Business
Interim Results to 30 June 2017
Interim Results to 30 June 2017.
About this update from Panther Metals Plc
[{"type":"text","content":"\n \n LONDON NUSANTARA PLANTATIONS PLC\n\n(“London Nusantara†or the “Companyâ€)\n\nUNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017\n\nCHIEF EXECUTIVE OFFICER’S STATEMENT\n\nI am pleased to announce our fourth interim financial results since the Company’s successful flotation on the NEX Exchange Growth Market on 30 June 2014. On 29 May 2017, the company completed its disposal of its initial investment in 404 hectares of land for an annualised gross return of 8.1%.\n\nCurrently we are targeting to acquire an equity interest in oil palm estates and mills that are revenue generating. We are expanding our investment search geographically to include parts of Sumatera and Kalimantan, Indonesia where a number of opportunities have arisen. The Company intends to fund these acquisitions by raising capital through a mixture of debt and equity coupled with a collaboration or joint-venture strategy with a suitable partner.\n\nFINANCIALS\n\nThe interim results for the six months ended 30 June 2017 show a consolidated loss of £53,822 mainly due to the costs associated with maintaining the listing status, which is made up of administrative fees, retainers to advisors and operational expenditure.\n\nOn the 5th of July 2017, Mr Hussin Abdul Jalil our Non Executive Director submitted his resignation from the Board of Directors of LNP due to medical reasons. No new appointments have been made since his resignation. The CEO will take on the role as the plantation specialist given his exposure in the industry for more than 15 years.\n\nThe financial information for the six months ended 30 June 2017 has not been audited, but has been reviewed by the Company’s auditors, UHY Hacker Young LLP.\n\nM Subramaniam\n\nChief Executive Officer\n\n29 September 2017\n\nThe Directors of the Company accept responsibility for the contents of this announcement.\n\nFor further information please contact:\n\nThe Company\n\nLONDON NUSANTARA PLANTATIONS PLC\n\nManichelvam Subramaniam, Chief Executive Officer +60 3 2727 1889 \n\nSimon Rothschild, Non-executive Director +44 7703 167 065\n\nNEX Exchange Corporate Adviser +44 (0)20 7469 0930\n\nPETERHOUSE CORPORATE FINANCE LIMITED\n\nMark Anwyl/Guy Miller\n\nCONSOLIDATED STATEMENT OF COMPREHENSIVE INCOM...