Business
Annual Report and Accounts
Annual Report and Accounts.
About this update from Harena Rare Earths Plc
[{"type":"text","content":"\n Crescent Hydropolis Resorts PLC\n30 June 2006\n\nFor immediate release\n\n\n\nStock Exchange Announcement\n\n\n\n30th June 2006\n\n\n\nCRESCENT HYDROPOLIS RESORTS PLC\nFINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2005\n\nCOMPANY AND INVESTOR INFORMATION\n\n\n\n\nDirectors Mr Joachim Hauser Executive Chairman\n\n Mr Mansoor Ijaz Chief Executive\n\n Mr Joachim Kundt Non-Executive Director\n\n Mr David Harris Non-Executive Director\n\n Mr Richard Armstrong Non-Executive Director\n\n\n\n\nCompany Number 113151C\n\n\n\nRegistered Office 15-19 Athol Street\n Douglas IM1 1LB\n Isle of Man\n\n\n\nNominated Adviser and Broker Nabarro Wells & Co. Limited\n Saddlers House\n Gutter Lane\n London EC2V 6HS\n\n\nAuditors Chantrey Vellacott DFK LLP\n Russell Square House\n 10-12 Russell Square\n London WC1B 5LF\n\n\n\nBankers HSBC Bank PLC\n 70 Pall Mall\n London SW1Y 5EZ\n\n\n\nSolicitors McClure Naismith\n Pountney Hill House\n 6 Laurence Pountney Hill\n London EC4R 0BL\n\nRegistrars Neville Registrars\n 18 Laurel Lane\n Halesowen\n West Midlands BD6 3DA\n\n\n ANNUAL REPORT\n\n Chairman's Statement\n\n\nCrescent Hydropolis Resorts PLC (CHR), the world's leading developer of\nultra-luxury underwater resort hotels and casinos under the Hydropolis design\nconcept first conceived and developed by the German architect and CHR's\nexecutive chairman, Joachim Hauser, announces its annual results for the period\nended 31 December 2005. The Company had €2.639.556 in cash as at 31 December.\n\nThe main items of expenditure in the annual accounts relate to development costs\nassociated with the architectural, design, engineering and feasibility studies\nof CHR's proposed Hydropolis projects at Qingdao, China and Dubai, United Arab\nEmirates, as well as early stage development costs for a proposed Hydropolis\ncasino/resort project in Monaco. Other items of expenditure included the costs\nof admission and the reimbursement of certain expenses incurred prior to\nadmission. Since admission, additional funds have been raised through private\nplacings and deployed to fund the aforementioned working capital costs.\n\nI am pleased to report that your Company succeeded in obtaining the first\ngovernment approvals for a deepwater Hydropolis project in Qingdao, China, on\nChina's Yellow Sea coastline, in April 2006. Planning for this important\npr...