Business
Half-yearly report
Half-yearly report.
About this update from Tern Plc
[{"type":"text","content":"\n THE CORE BUSINESS PLC\n (\"Core\" or the \"Company\")\n\n Unaudited Half-Yearly Report For The Six Months Ended 30 November 2009\n\n17 March 2010\n\nCHAIRMAN'S STATEMENT\n\nFinancial Results\n\nThe accounts for the period to 30 November 2009 show a loss of £217,550; loss\nper share was 0.09p per share.\n\nBusiness Review\n\nIn September 2009 the directors requested the suspension of dealings in the\nexisting ordinary shares on AIM when the directors became aware that trading\nlevels had decreased to a significant extent, as a result of which the group's\nliabilities exceeded its assets.\n\nAmirose International Limited was placed in a creditors voluntary liquidation\non 25 January 2010.\n\nThe Board has been approached by Alfred Henry Corporate Finance, together with\nTrafalgar Capital Specialised Investment Fund, the Company's largest secured\ncreditor, with proposals under which the Company is to be used as an investing\ncompany quoted on AIM and the creditors are to be offered new ordinary shares\nin satisfaction of amounts owed to them by the Company in order to eliminate\nthe Company's indebtedness and liabilities and provide it with the requisite\nsolvency to conduct a company voluntary arrangement (\"CVA\"), to seek a return\nto trading on AIM and to fund the associated working capital requirements. The\nobjective would be to enable creditors and shareholders to recover some value\nby holding shares in an AIM quoted investment company.\n\nOutlook\n\nAssuming the proposals are implemented, the strategy of the proposed directors\nwill be to seek suitable acquisition opportunities in the natural resources\nsector on a worldwide basis\n\nOn behalf of the board\n\nStirling Murray\nChief Executive\n\n\nChange of Name of Nominated Adviser\n\nThe Company's Nominated Adviser, Blomfield Corporate Finance Limited, has\nchanged its name to Religare Capital Markets (UK) Limited - trading as Religare\nCapital Markets.\n\n\n\nFor further information, please contact:\n\nThe Core Business PLC www.thecorebusiness.co.uk\nStirling Murray, Chief Executive 020 8559 8244\n\nReligare Capital Markets (Nomad)\nNick Harriss 020 7444 0800\n\nAntony Batty & Company LLP (CVA Nominee)\nAntony Batty 020 7831 1234\n\n\n\nStatement of Comprehensive Income\nfor the six months ended 30 November 2009\n\n\n\n Six Six\n months to months Year\n 30 30 end...