Greener House Investments plc
Interim results for the six months ended 30 November 2008
Greener House Investments plc (PLUS: GHIP) ("GHI" or the "Company"), a special
purpose acquisition company established to make an acquisition in the healthcare
industry, announces its interim results for the six months ended 30 November
2008.
Six months highlights
- Loss for the period GBP10,359
- Company continues to seek reverse take-over candidates
Jonathan Metliss, Chairman, commented: "We have kept the expenses as low as
possible while we continue to seek an attractive reverse take-over candidate
which meets our target criteria."
6 April 2009
Enquiries:
Greener House Investments plc 020 7451 7050
Jonathan Metliss, Chairman
Daniel Stewart & Co Plc
Stewart Dick 020 7776 6550
The directors of Greener House Investments plc take responsibility for this announcement.
Greener House Investments plc
Chairman's Statement
Greener House Investments plc (PLUS: GHIP) ("GHI" or the "Company") presents the
interim results in respect of the six months ended 30 November 2008.
GHI is a special purpose acquisition company established to acquire a company or
business in the healthcare sector.
The directors are seeking a suitable acquisition in exchange for the issue of
shares of GHI in a single transaction, thus effecting a reverse takeover and
giving to the acquired company a PLUS Markets listing and control of GHI's cash
resources.
The acquisition criteria are that the target should be operating in the
healthcare sector, entirely or principally in the UK, revenue generating,
profitable, capable of substantial growth, and with an acceptable risk profile.
So far the directors have considered in excess of 30 propositions including
medical devices, clinical services, software, health foods and restaurants and
corporate services. However none has so far met all of the acquisition criteria
nor been sufficiently attractive in the opinion of the directors to be acquired.
The directors and their advisers continue actively to seek and consider other
opportunities. The directors will inform the shareholders when an opportunity is
identified which the directors consider to be acceptable. In the meantime we
have kept expenses as low as possible while we continue to seek an attractive
take-over candidate which meets our criteria.
In the period ended 30 November 2008 the Company earned no revenues(8 May 2007
to 30 November 2007: Nil) and the net loss for the period amounted to GBP10,359
(2007 net loss GBP8,287). The net assets at 30 November 2008 were GBP368,740 with
cash and cash equivalents of GBP377,427. The Company retains its cash resources on
treasury fund deposits pending implementation of an acquisition.
Jonathan Metliss
Chairman
6 April 2009.
Greener House Investments plc
Interim results for the six months ended 30 November 2008
Six From Twelve months
months incorporation ended
ended 8 May 2007 to 31 May
30 November 30 November 2008
2008 2007 (Audited)
(Unaudited) (Unaudited)
GBP GBP GBP
Turnover - - -
Operating expenses 19,520 13,110 31,916
_______ _______ _______
Operating loss (19,520) (13,110) (31,916)
Interest receivable less 9,160 4,823 12,711
payable _______ _______ _______
Loss before tax and (10,359) (8,287) (19,205)
retained for the period _______ _______ _______
Balance Sheet as at 30 November 2008
As at As at As at
30 November 30 November 31 May
2008 2007 2008
(Unaudited) (Unaudited) (Audited)
GBP GBP GBP
ASSETS
Current assets
Cash and cash equivalents 377,427 423,992 383,260
Prepayments 1,337 1,036 4,064
_______ _______ _______
378,764 425,028 387,324
_______ _______ _______
Current liabilities
Trade creditors due within 10,024 35,011 8,225
1 year _______ _______ _______
368,740 390,017 379,099
_______ _______ _______
EQUITY
Capital and reserves
Share capital (Note 1) 100,025 100,025 100,025
Share premium (Note 2) 298,279 298,279 298,279
Profit & loss account (29,564) (8,287) (19,205)
_______ _______ _______
Shareholders' funds 368,740 390,017 379,099
_______ _______ _______
Notes to the accounts:
(1) Share capital
Authorised: 250,000,000 Ordinary shares of 0.1p each GBP250,000
Issued: 100,025,000 Ordinary shares of 0.1p each GBP100,025
(2) Share premium account
Premium on share capital GBP371,475
Less share issue costs GBP73,196
________
GBP298,279
________
(3)The above financial information for the period ended 30 November 2008 has
not been audited or reviewed by the Company's auditors as the Company has
not made any investments.