Business
Preliminary Results and Notic
Preliminary Results and Notic.
About this update from Marechale Capital Plc
[{"type":"text","content":"\n RNS Number : 2160Y St Helen's Capital PLC 28 August 2009 \n \nSt Helen's Capital Plc\n(\"St Helen's Capital\" or the \"Company\")\n\nUnaudited Preliminary Results, Proposed Disposal of Business,\nAdoption of Investing Policy and Notice of General Meeting\nfor the year ended 31 March 2009\n\nSt Helen's Capital (AIM: SHCP.L) today announces its unaudited preliminary results for the year ended 31st March 2009.\n\nChairman's Statement\n\nWhen I reported St Helen's Capital's interim results in December 2008, I was hopeful that market conditions would improve. Unfortunately, and despite the fact that the main global equities markets in larger companies have since staged a rally, smaller quoted companies have generally remained out of favour with both institutional and private investors.\n\nAgainst the backdrop of a general global economic downturn, St Helen's Capital has not completed any fund raisings for its publicly quoted clients during the reporting period, which reflects the lack of confidence in the prospects for smaller quoted companies. \n\nWhilst the Company has had some recent success in securing new client mandates and completing equity fund raisings, all of these have been \"off market\" or pre-IPO situations, and have generally involved raising small amounts of capital. As a result, little revenue has been generated and the Company has been, and continues to be, loss making on a month by month basis.\n\nSt Helen's Capital has a portfolio of existing clients generating regular retainer revenues, although a number of these have either terminated the services of St Helen's Capital, delisted from AIM or PLUS or simply ceased to trade altogether. As a result, the level of annual retainer fees has declined; again, this is partially a symptom of the general market malaise and, in some cases, a reflection of the fact that St Helen's Capital is not an integrated broking house with a NOMAD function. AIM listed companies need the services of a NOMAD at all times, and it is particularly the case that the broking function is a secondary consideration for companies,...