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ALL IPO PLC (ALP)

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Friday 28 September, 2007

ALL IPO PLC

Preliminary Statement

ALL IPO PLC
28 September 2007

                                  ALL IPO PLC
                          ('ALL IPO' or 'the Company')


              Preliminary Results for the Year Ended 30 June 2007


ALL IPO today announces preliminary results for the year ended 30 June 2007.


Chief Executive's Statement

We have made steady progress during the past year with the flow of IPOs being
made available to the private investor via the ALL IPO platform increasing, with
66 investment documents available on the website during the year to 30 June 2007
(2006: 14).  Despite our active lobbying of both the government and the broking
community, mainstream IPOs have not, as yet, been made available in any number.
The City still remains unsure of the private investor and so almost all of this
years larger IPOs have precluded private investors from the flotation process.
We plan to continue to press brokers to allow more IPOs to be made available to
the private investor and feel we have already achieved some gains in this area.
This effort is building the flow of IPOs for our customers and our participation
in Vector Hospitality, Bramdean Alternatives Limited and Money Supermarket.com
during tough market conditions affirms the tantalising possibilities of private
investor participation in large IPOs. However, winning proper access for private
investors in IPOs will not happen over night.

ALL IPO is now a member of The London Stock Exchange and as such can act as a
stock broker.  We feel this status could open up opportunities in areas that the
business has not previously focused on. We are looking to generate new revenue
streams which can run alongside our continuing development of the IPO platform,
to take the business forward.  New products will be brought on line during the
next year and this will help cover the Company's modest overhead.


Financial review

Although not reflected in the numbers ALL IPO has made very steady progress
during the past year. Whilst actual numbers remain small, our turnover has
increased considerably, we have reduced our loss after tax by 7% and have
reduced our loss per share by 20%, as detailed below:


                            Year to          Year to           
                            30 June          30 June
                               2007             2006           Change     Change
                              £'000            £'000            £'000          %

Turnover                         54                1               53      5,300
Loss after tax                  978            1,049               71          7
Loss per share                 3.5p             4.4p             0.9p         20



Strategy

We plan to continue with the ALL IPO strategy of building a flow of IPOs for our
customers and this is leading to more products and promises of participation in
large offerings. However, while there has been progress, there is no doubt that
there is more work to be done.  Looking to the future, and ways of expanding our
business model, ALL IPO has broad permissions from the Financial Services
Authority regarding the activities it can carry out.  Combining these
permissions with our large customer base has exciting prospects, so we have been
evaluating other products that the Company can develop. This has seen the
release of the discretionary investment management service with Redmayne Bentley
which will produce additional revenue sources in 2008. To add shareholder value,
we have also looked at opportunities that leverage the Company's PLC status and
regulatory umbrella. We have had a number of interesting discussions with other
parties but none have become compelling enough to take forward. We will continue
with this process in order to find a prospect which is the right fit. We feel
that while maintaining a tight focus on IPOs, we should also be open to a
broader picture of opportunities covered by our status as a member of The Stock
Exchange, stockbroker and FSA regulated firm. Having adjusted the Company's cost
base since the year end we have time to build our business to cover its modest
costs and explore other opportunities. We remain believers in the ALL IPO
concept and feel the last year's progress whilst slower than hoped shows
promise.


Operating costs

Our costs have remained reasonably static although since the year end we have
reduced our staffing overhead. In the past year we also had to bear £375,000
amortisation costs and £88,000 depreciation costs totalling £463,000 which
represents 42% of our total administrative expenses for the year.


Research and development

The company continues to invest in new and untried technologies which will
follow through into the quality and design of our products. We believe continued
investment in our research and development is fundamental to the growth of the
business.


Environmental policy

In terms of people we are a small team, however, our products can help other
organisations reduce the amount of paperwork required to carry out their
business and thus their environmental impact. The management hope that this will
be recognised and will continue to look for ways to develop the Company's
environmental policy during the year. It is our objective to persistently
improve our performance in this area.


Summary of key performance indicators

The directors have monitored the progress of the overall company strategy and
the individual strategic elements by reference to certain financial and
non-financial key performance indicators, as outlined below:


                                    2007                  2007                   2006                   2006
                                  Actual                Target                 Actual                 Target

Increase in registered users         58%                   50%     n/a (nil at start)     n/a (nil at start)

Website Traffic - hits per
month averaged over year           0.77m                  0.5m                  0.27m                  0.25m
                              
IPOs made available                   66                    50                     14                     12


Future developments for the business/future outlook

ALL IPO will continue to try and make as many IPOs available to the private
investor as we can or are allowed to. However we also recognise that we have to
find other ways to support the business while this work continues, so we have
embarked on the development of new products that we feel complement our skill
and our customers' needs. One of the first products to be tested and launched
will be our KYC (Know Your Customer) service. Many of you that have registered
with us will have been through this without even realising what was going on
behind the scenes. KYC is something that most accountants, auditors, bankers -
in fact most businesses in the financial sector have to do. It normally takes a
week or so and would involve a possible customer sending in bank statements,
utility bills or a copy of their passport. This is a costly and time consuming
process, whereas the ALL IPO KYC service is on line and takes a few seconds to
run all the required tests, eliminating the usual protracted process.


Principal risks and uncertainties

The management of the business and the nature of the Company's strategy are
subject to a number of risks. The directors are of the opinion that a thorough
risk management process is adopted which involves the formal review of all the
risks identified below. Where possible, processes are in place to monitor and
mitigate such risks.  We have set out below the principal risks facing the
business.


Economic downturn

The success of the world's stock markets could affect the business and many
global factors can affect a stock market from war to human error. This in turn
can affect consumer spending power and the desire to invest in new businesses.
In response to this risk, senior management aim to keep abreast of economic
conditions around the world.  Not only should senior management be aware of it
likewise so should our customers and members. In cases of severe economic
downturn, marketing and pricing strategies will be modified to reflect the new
market conditions and as noted above new product lines which are less dependent
on IPOs are being developed.


High proportion of fixed overheads and variable revenues

A large proportion of the Company's overheads are reasonably fixed. There is the
risk that any significant reductions in revenue may lead to the inability to
cover such costs. Management closely monitors fixed overheads against budget on
a monthly basis and cost-saving exercises are implemented when there is an
anticipated decline in revenues.


Product obsolescence

Due to the nature of the market in which the company operates, products are
subject to technological advances and as a result obsolescence. The directors
are committed to the Research and Development strategy in place, and are
confident that the company is able to react effectively to the developments
within the market.

The Company's staff are a very important part of the business and without their
hard work we would not have achieved what we have so far today.  I would like to
thank our staff for their extremely hard work over the course of the year ended
30 June 2007.  We have made progress in a tough trading environment and I am
grateful to both them and the support of our shareholders.



Clem Chambers
Chief Executive
28th September 2007





Further information:
Francesca De Franco, 020 7070 0932 or [email protected]


Fiona Kindness, Director, Grant Thornton UK LLP (Nominated Adviser) 
- 020 7728 3414



ALL IPO PLC
Profit and Loss Account
for the year ended 30 June 2007

                                                              2007         2006
                                                Notes        £'000        £'000
                                                                    As restated

Turnover                                                        54           1

Administrative expenses                                     (1,104)     (1,059)

Operating loss                                              (1,050)     (1,058)

Net interest                                                    15           9

Loss on ordinary activities before taxation                 (1,035)     (1,049)

Tax on loss on ordinary activities                              57           -

Loss on ordinary activities after taxation                    (978)     (1,049)



Basic and diluted loss per ordinary share       
from total and continuing operations                2         (3.5p)      (4.4p)




All operations are continuing.

There were no recognised gains or losses other than the loss for the financial
year.




ALL IPO PLC
Balance Sheet
at 30 June 2007

                                                              2007         2006
                                                Notes        £'000        £'000
                                                                    As restated


Fixed assets
Tangible fixed assets                                          295         308
Investments                                                  3,000       3,375

                                                             3,295       3,683
Current assets
Debtors                                                        141          31
Cash at bank and in hand                                       320         957

                                                               461         988

Creditors: amounts falling due within                       
one year                                                      (322)       (238)

Net current assets                                             139         750

Total assets less current liabilities                        3,434       4,433



Capital and reserves
Called up share capital                                        725         725
Share premium account                                        3,145       3,145
Merger reserve                                               3,600       3,600
Option valuation reserve                                       287         308
Profit and loss account                                     (4,323)     (3,345)

Shareholders' funds                                3         3,434       4,433




The financial statements were approved by the Board of Directors on 28 September
2007.




ALL IPO PLC
Cash Flow Statement
for the year ended 30 June 2007

                                                              2007         2006
                                                Notes        £'000        £'000


Net cash outflow from operating activities        4           (577)       (393)

Returns on investment and servicing of
finance
Net interest                                                    15           9

Capital expenditure and financial investment
Purchase of tangible fixed assets                              (75)       (143)

Net cash outflow before financing                             (637)       (527)



Financing
Issue of shares                                                  -       1,000
Share issue costs                                                -        (107)
Loan from parent undertaking                                     -           -

Net cash inflow from financing                                   -         893

(Decrease) / increase in cash                   5, 6          (637)        366




ALL IPO PLC
Notes for the year ended 30 June 2007


1.     General

The financial information herein does not constitute statutory accounts as
defined in section 240 of the Companies Act 1985.  The financial information has
been extracted from the Company's 2007 statutory financial statements upon which
the auditors reported on 28 September 2007.  Their opinion does not include any
statement under section 237 of the Companies Act 1985.

The financial statements have been prepared in accordance with applicable United
Kingdom Accounting Standards and under the historical cost convention.  The
principal accounting policies have remained unchanged since the previous year
except for the adoption of FRS 20 'Share based payments'.

The Company has adopted FRS20 with effect from 1 July 2006. FRS20 requires the
recognition of a charge to the profit and loss account for all applicable share
based payments, including share options. The Company has equity-settled share
based payments but no cash-settled share based payments. All share based
payments awards granted after 7 November 2002 which had not vested prior to 1
July 2006 are recognised in the financial statements at their fair value at the
date of grant.

As vesting periods and non-market based vesting conditions apply, the expense is
allocated over the vesting period, based on the best available estimate of share
options expected to vest. Estimates are revised subsequently if there is any
indication that the number of share options expected to vest differs from
previous estimates. Any cumulative adjustment prior to vesting is recognised in
the current period. All equity-settled share based payments are ultimately
recognised as an expense in the profit and loss account with a corresponding
credit to the option valuation reserve.

The adoption of FRS20 requires a prior period adjustment to be made for awards
granted before 1 July 2006. This has created an opening balance within the
option valuation reserve at 1 July 2006 of £308,000 and reduced the profit and
loss account reserve by an equal amount. In addition, the re-stated loss after
tax for the year ended 30 June 2006 has increased by £177,000.

Copies of the annual report are being posted to shareholders and copies will be
available from the company's registered office at Suite 27, Essex Technology
Centre, The Gables, Fyfield Road, Ongar, Essex, CM5 0GA.



2.     Loss per ordinary share

                                                       2007                                   2006
                                                     Number         Loss         Loss        Number        Loss
                                          Loss    of shares    per share                  of shares   per share
                                                                          As restated                        As
                                                                                                       restated
                                         £'000         '000            p        £'000          '000           p

Loss for the year                         (978)                                (1,049)
Weighted average number of shares                    27,846                                   23,960
Loss per share                                                     (3.5p)                                 (4.4p)


The options are anti-dilutive for both years due to the losses incurred.





3.     Reconciliation of movements in shareholders' funds

                                                              2007         2006
                                                             £'000        £'000
                                                                    As restated

Loss for the financial year                                   (978)     (1,049)
Recognition of equity settled share based
payments in the year (FRS20)                                   (21)        177
Receipts from issues of shares                                   -       1,000
Share issue costs                                                -        (107)

Net (decrease) /increase in shareholders' funds               (999)         21
Shareholders' funds at 1 July 2006                           4,433       4,412

Shareholders' funds at 30 June 2007                          3,434       4,433



4.     Reconciliation of operating loss to net cash outflow from
       operating activities

                                                              2007         2006
                                                             £'000        £'000
                                                                    As restated

Operating loss                                              (1,050)     (1,058)
Depreciation                                                    88          64
Recognition of equity settled share based payments
in the year (FSR20)                                            (21)        177
Amount written off investment                                  375         375
Increase in debtors                                            (53)        (11)
Increase in creditors                                           84          60

Net cash outflow from operating activities                    (577)       (393)



5.     Reconciliation of net cash flow to movement in net funds


                                                              2007         2006
                                                             £'000        £'000

(Decrease) / increase in cash for the year                    (637)        366
Net funds at 1 July 2006                                       957         591

Net funds at 30 June 2007                                      320         957



6.     Analysis of movements in net funds

                             At 1 July 2006      Cash flow      At 30 June 2007
                                      £'000          £'000                £'000

Cash in hand and at bank                957           (637)                320





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