Greener House Investments plc
Interim results for the period ended 30 November 2007
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 maiden interim results since being admitted to PLUS on
29 October 2007.
Six months highlights
- £471,500 raised by private placing
- Company actively seeking reverse take-over candidates
- Loss for the period £8,287
Jonathan Metliss, Chairman, commented: "We know that it is attractive to have a
SPAC with cash resources available as a means to go public in the current
environment. We have set high acquisition criteria and are seeking a suitable
acquisition target which we hope to identify soon."
20 February 2008
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 its
first interim results in respect of the period from the company's establishment
on 8 May 2007 to 30 November 2007.
The Company raised £471,500 in private placings before admission of its share
capital to trading on the PLUS Market on 29 October 2007.
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 20 propositions including
medical devices, medical services, imaging, aesthetic treatments, exploitation
of intellectual property, care provision, property, and employment agency.
However none has so far met all of the acquisition criteria nor been
sufficiently attractive in the opinion of the directors to be acquired.
A number of potential acquisitions remain under consideration and the directors
and their advisers are actively seeking other opportunities. The directors will
inform the shareholders when an opportunity is identified which the directors
consider to be acceptable.
In the period ended 30 November 2007 the Company earned no revenues and the net
loss for the period amounted to £8,287. The net assets at that date were
£390,017 with cash and cash equivalents of £423,992. The Company retains its
cash resources on treasury fund deposits pending implementation of an
acquisition.
Jonathan Metliss
Chairman
20 February 2008.
Greener House Investments plc
Interim results from incorporation on 8 May 2007 to 30 November 2007
Unaudited
Period ended
30 November
2007
£
Turnover -
Operating expenses 13,110
________
Operating loss (13,110)
Interest receivable less payable 4,823
________
Loss before tax and retained (8,287)
for the period ________
Balance Sheet as at 30 November 2007
Unaudited
as at
30 November
2007
£
ASSETS
Current assets
Cash and cash equivalents 423,992
Prepayments 1,036
________
425,028
Current liabilities
Trade creditors due within 1 year 35,011
________
390,017
________
EQUITY
Capital and reserves
Share capital (Note 1) 100,025
Share premium (Note 2) 289,279
Profit & loss account (8,287)
________
Shareholders' funds 390,017
________
Notes to the accounts:
(1) Share capital
Authorised: 250,000,000 Ordinary shares of 0.1p each £250,000
Issued: 100,025,000 Ordinary shares of 0.1p each £100,025
(2) Share premium account
Premium on share capital £371,475
Less share issue costs £73,196
________
£298,279
________
(3)The above financial information for the period ended 30 November 2007 has
not been audited or reviewed by the Company's auditors as the Company has
not made any investments and there has been no significant change to the
accounts published in the admission document dated 15 October 2007.