Business
Interim Results for the six months to 30 June 2013
Interim Results for the six months to 30 June 2013.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3149P Reabold Resources PLC 30 September 2013 \n \n\n30 September 2013\nREABOLD RESOURCES PLC\n (\"the Company\")\n \nInterim Results for six months ended 30 June 2013\n \nReabold Resources plc (AIM: RBD) the AIM quoted resources investment company announces its unaudited interim results for the six months ended 30 June 2013 (\"the Period\").\n \nFor further information, contact:\n \n\n\n\n\nReabold Resources plc\nJeremy Edelman (Executive Chairman)\nAnthony Samaha (Executive Director)\n \n\n\n \n+44 (0) 20 7460 2353\n \n \n\n\n\n\nBeaumont Cornish Limited\nRoland Cornish\n\n\n+44 (0) 20 7628 3396\n\n\n\n\n\n \n \n \nCHAIRMAN'S STATEMENT\n\n \nSince shareholders approved the Company's fundamental change of business to that of an investing company on 19 December 2012, the Board has been very active in the identification and evaluation of investment opportunities, primarily in natural resources. The Board's objective is to undertake an acquisition or acquisitions which constitute a reverse takeover under the AIM Rules prior to 19 December 2013. \n \nThe Board looks forward to reporting further in due course in respect to the investment objectives of the Company.\n \nThe loss of the Company for the 6 months ended 30 June 2013 was £86,000 (2012: loss of £2,232,000) in line with expectations. The net assets as at 30 June 2013 were a deficiency of £179,000 (2012: deficiency of £10,323,000). \n \nAs at 30 June 2013, the Company had cash of £33,000 and a further balance available to be drawn down under the Saltwind Enterprises Limited (\"Saltwind\") Loan Notes of circa £52,000. Post period end, the balance of these Loan Notes was drawn down. \n \nOn 13 August 2013, following the approval of the Shareholders of a waiver of Rule 9 of the Takeover Code, the Company received a conversion notice from Saltwind in respect of the whole principal amount of the unsecured Loan Notes of £260,000. Subsequently the Company issued Saltwind 104,000,000 New Ordinary Shares of 0.1 pence per share, which were admitted to trading on AIM on 22 August 2013.\n \nThe Board is moving forward positively with the implementation of the investment objective towards driving the creation of value for all stakeholders.\n...