STOCK EXCHANGE ANNOUNCEMENT
GBAT SECURITIES PLC
(FORMERLY GSCOT SECURITIES PLC)
PRELIMINARY ANNOUNCEMENT OF ANNUAL RESULTS
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THE DIRECTORS ANNOUNCE THE COMPANY'S UNAUDITED RESULTS FOR THE YEAR TO 31ST
JULY 2003 AS FOLLOWS:-
PROFIT AND LOSS ACCOUNT
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FOR THE YEAR ENDED 31st JULY 2003
YEAR TO 31ST JULY
2003 2002
£'000 £'000
INVESTMENT INCOME 16 15
ADMINISTRATIVE EXPENSES - (9)
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PROFIT ON ORDINARY ACTIVITIES BEFORE AND 16 6
AFTER TAXATION
NON-EQUITY APPROPRIATIONS (3,645) (3,352)
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RETAINED LOSS FOR THE YEAR (3,629) (3,346)
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EARNINGS PER ORDINARY SHARE 1,067p 400p
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
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FOR THE YEAR ENDED 31st JULY 2003
2003 2002
£'000 £'000
UNREALISED PROFIT/LOSS) ON LISTED 4 (6)
INVESTMENTS
UNREALISED LOSS ON UNLISTED (3,833) (15,152)
INVESTMENTS
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MOVEMENT FOR THE YEAR (3,829) (15,158)
RETAINED LOSS FOR THE YEAR (3,629) (3,346)
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TOTAL RECOGNISED LOSSES (7,458) (18,504)
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SUMMARISED BALANCE SHEET AT AT
------------------------- 31-7-03 31-7-02
£'000 £'000
FIXED ASSETS
Listed investment - 148
Unlisted investment - 16,498
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- 16,646
CURRENT ASSETS
Listed Investment 152 -
Unlisted investment 12,665 -
Debtors 203 203
Cash at bank 35 19
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NET ASSETS 13,055 16,868
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CAPITAL AND RESERVES
Called-up share capital 5 5
Share premium - 31,970
Special Reserve 31,970 -
Non Distributable reserve (19,004) (15,175)
Profit and loss account 84 68
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SHAREHOLDERS' FUNDS 13,055 16,868
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ATTRIBUTABLE TO:
Equity shareholders - -
Non equity shareholders:
Zero Dividend Preference 13,055 16,868
shares
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13,055 16,868
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NET ASSET VALUES PER
SHARE (AS PER ARTICLES):
Zero Dividend Preference £0.41 £0.53
shares
Ordinary shares nil Nil
THE RESULTS FOR THE YEAR TO 31ST JULY 2003 ARE UNAUDITED AND DO NOT CONSTITUTE
STATUTORY ACCOUNTS UNDER THE COMPANIES ACT 1985. STATUTORY ACCOUNTS FOR THE
YEAR TO 31ST JULY 2003, ON WHICH THE AUDITORS WILL REPORT, WILL BE DELIVERED TO
THE REGISTRAR OF COMPANIES IN DUE COURSE.
ANNUAL REPORT AND ACCOUNTS
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THE REPORT AND ACCOUNTS FOR THE YEAR TO 31ST JULY 2003 IS TO BE PUBLISHED AS AN
APPENDIX TO THE REPORT & ACCOUNTS OF GARTMORE BALANCED ASSETS TRUST PLC AND
WILL BE POSTED TO SHAREHOLDERS SHORTLY. COPIES WILL ALSO BE AVAILABLE FROM THE
REGISTERED OFFICE OF THE COMPANY: GARTMORE HOUSE, 8 FENCHURCH PLACE, LONDON
EC3M 4PB.
THE ANNUAL GENERAL MEETING FOR 2003 WILL BE HELD AT THE COMPANY'S REGISTERED
OFFICE ON MONDAY, 1ST DECEMBER 2003, AT 12.30 P.M
GARTMORE INVESTMENT LIMITED
SECRETARIES
23rd OCTOBER 2003