TIDMMST
RNS Number : 3784J
Mid-States PLC
30 March 2010
PRESS RELEASE
30 March 2010
MID-STATES PLC
Unaudited Results for the Six Months Ended 31 December 2009
Mid-States PLC, a leading environmental technology group today reports its
unaudited results for the six months ended 31 December 2009.
Summary
· Orders for 679 ADs received in the six months ended 31 December 2009
· Includes significant orders from distributors in Spain, Norway and the
Middle East
· Over 600 ADs in use in UK hospitals
· Order intake is expected to exceed 400 in the quarterending 31 March 2010
· Order intake for the financial year now exceeds 1,000 units
· New wall mounted AD completed and further derivatives of the AD in
development
· Increased investment in sales and marketing resources
Javier Segura, Chief Executive of Mid-States commented:
"On this, the first anniversary of my joining the Group, I am pleased to be
reporting on the start of the commercial success of our technology. We are
already achieving sales traction in multiple geographies and sectors. Our task
now is to develop and replicate this success to bring the technology towards its
full commercial potential."
For further information:
Mid-States PLC Tel: +44 (0) 20 7603 1515
Andrew Tonks, Finance Director
Panmure Gordon (UK) Limited Tel: +44 (0) 20 7459 3600
Andrew Godber
Chairman and Managing Director's Report
Introduction
The Board is pleased to announce its results of the Company for the half year
ended 31 December 2009 and to take this opportunity to comment on the continued
progress in its air disinfection business and its groundbreaking air
disinfection device, the AD.
Business update
The Board believes that the new business strategy adopted last year, its
strengthened management team and the heightened awareness of viral threats
(including swine 'flu), have been significant factors in the progress of the air
disinfection business. The AD will kill influenza viruses including H1N1 in
rooms and other enclosed spaces, in the same way but at a higher rate than they
are killed in the open air. Using the AD will mean that enclosed rooms, which
are the highest risk areas, become at least as safe as the open air.
Orders received in the six months ended 31 December 2009 for the Company's AD
air disinfection device totalled 679. This comprised larger orders from
distributors in Spain, Norway and the Middle East together and other relatively
low volume sales to potential new distributors as the Company seeks to establish
sales channels in new markets, both in the UK and internationally.
In addition, there are now over 600 AD in use in UK hospitals, successfully and
demonstrably playing a key role in the ongoing fight against viral and bacterial
pathogens. The successful outcomes achieved at hospitals such as Hereford
Hospitals Trust and the selection of the AD as one of the winners of the NHS
Smart Solutions programme will continue to generate interest from the healthcare
market.
Other achievements include the completion of a new wall mounted AD. Further
derivatives of the AD are in the development pipeline.
Having successfully established the AD into the UK hospital market, the strategy
of the Group is to achieve further penetration of that market and of hospital
markets in other selected countries, including India, the Middle East and
certain countries in Europe including Spain. The investment in additional sales
and marketing resources made in 2009 will be increased in 2010 to drive the
sales, marketing and product development plans.
Financial Results for the Period
These interim condensed consolidated statements are prepared under International
Financial Reporting Standards (IFRS).
In the six months ended 31 December 2009, the Group's continuing activities
achieved revenues of GBP0.2 million (2008: GBP0.2 million) and the loss for the
period from continuing operations was GBP1.1 million (2008: loss of GBP1.0
million). The basic and diluted loss per share (continuing operations) was 0.90
pence (2008: loss of 1.17 pence).
Net cash outflow for the six months ended 31 December 2009 was GBP1.3 million
(2008: GBP0.1 million inflow; this included the net funds of GBP1.1 million
raised from the placing of shares in July 2008). Net cash used in operating
activities was GBP1.2 million (2008: GBP1.0 million). At 31 December 2009, the
Group had net cash balances of GBP0.9 million (2008: GBP0.4 million).
Chairman and Managing Director's Report
Continued
Current trading and prospects
With the foundation of a successful entry of the AD into the UK hospital market,
the Group is working to improve revenues which, whilst encouraging, have been
relatively low due to the time necessary to select the right distributor, and
launch and establishment of the AD in each particular market or sector.
Nevertheless in the quarter ending 31 March 2010, order intake is expected to
exceed 400 AD, which represents the highest quarterly figure yet for the air
disinfection business, and year to date order intake now exceeds 1,000 AD.
The addition of new distribution partners in new territories and markets in 2010
is expected to provide significantly increasing revenues over the following
years. The Company is presently working with a number of distributors in
different market sectors and territories around the world. For example, we have
recently commenced a partnership with a distributor in India and we believe this
could be a significant market for the AD, both in healthcare and other markets.
To continue and accelerate the progress made in the last year, and to assist in
realising the full potential of the air disinfection technology including
through additional sales and marketing resources and the development of further
variants of the AD, the directors have instituted measures to generate more cash
and secure additional finance, including through the continued support of its
major shareholders.
We look forward to reporting on further progress at the time of the announcement
of the Group's annual results for the year ending 30 June 2010.
John Bateson, Chairman
Javier Segura, Managing Director
29 March, 2010
Condensed consolidated interim statement of comprehensive income
+----------------------------+---+-----------+-----------+----------+
| | | Six | Six | Year to |
| | | months | months | 30 June |
| | | to | to | 2009 |
| | | 31 | 31 | audited |
| | | December | December | GBP'000 |
| | | 2009 | 2008 | |
| | | unaudited | unaudited | |
| | | GBP'000 | GBP'000 | |
+----------------------------+---+-----------+-----------+----------+
| Continuing operations | | | | |
+----------------------------+---+-----------+-----------+----------+
| Revenue | | 193 | 230 | 336 |
+----------------------------+---+-----------+-----------+----------+
| Cost of sales | | (101) | (137) | (296) |
+----------------------------+---+-----------+-----------+----------+
| Gross profit | | 92 | 93 | 40 |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| Distribution expenses | | (7) | (2) | - |
+----------------------------+---+-----------+-----------+----------+
| Administrative expenses | | (1,170) | (1,120) | (2,449) |
+----------------------------+---+-----------+-----------+----------+
| Results from operating | | (1,085) | (1,029) | (2,409) |
| activities | | | | |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| Finance income | | - | 10 | 10 |
+----------------------------+---+-----------+-----------+----------+
| Net finance income | | - | 10 | 10 |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| Loss before income tax | | (1,085) | (1,019) | (2,399) |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| Income tax income | | 17 | 17 | 33 |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| Loss from continuing | | (1,068) | (1,002) | (2,366) |
| operations | | | | |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| Discontinued operations | | | | |
+----------------------------+---+-----------+-----------+----------+
| (Loss)/profit from | | - | (628) | 789 |
| discontinued operations | | | | |
| (net of income tax) | | | | |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| Loss for the period | | (1,068) | (1,630) | (1,577) |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| Total comprehensive | | (1,068) | (1,630) | (1,577) |
| expense for the period | | | | |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
| Loss per share (continuing | | (0.90)p | (1.17)p | (2.53)p |
| operations) | | | | |
+----------------------------+---+-----------+-----------+----------+
| Loss per share (total | | (0.90)p | (1.90)p | (1.69)p |
| operations) | | | | |
+----------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------+---+-----------+-----------+----------+
Condensed consolidated interim statement of financial position
+----------------------------------+---+-----------+-----------+----------+
| | | 31 | 31 | 30 June |
| | | December | December | 2009 |
| | | 2009 | 2008 | audited |
| | | unaudited | unaudited | GBP'000 |
| | | GBP'000 | GBP'000 | |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Assets | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Property, plant and equipment | | 168 | 141 | 129 |
+----------------------------------+---+-----------+-----------+----------+
| Goodwill | | 1,115 | 1,115 | 1,115 |
+----------------------------------+---+-----------+-----------+----------+
| Other intangible assets | | 719 | 837 | 778 |
+----------------------------------+---+-----------+-----------+----------+
| Total non-current assets | | 2,002 | 2,093 | 2,022 |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Inventories | | 187 | 559 | 280 |
+----------------------------------+---+-----------+-----------+----------+
| Trade and other receivables | | 119 | 621 | 14 |
+----------------------------------+---+-----------+-----------+----------+
| Other current assets | | 24 | 13 | 51 |
+----------------------------------+---+-----------+-----------+----------+
| Cash and cash equivalents | | 927 | 369 | 2,230 |
+----------------------------------+---+-----------+-----------+----------+
| Total current assets | | 1,257 | 1,562 | 2,575 |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Total assets | | 3,259 | 3,655 | 4,597 |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Equity | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Share capital | | 1,161 | 859 | 1,161 |
+----------------------------------+---+-----------+-----------+----------+
| Share premium | | 4,543 | 1,956 | 4,543 |
+----------------------------------+---+-----------+-----------+----------+
| Share based payments reserve | | 67 | 65 | 67 |
+----------------------------------+---+-----------+-----------+----------+
| Capital redemption reserve | | 253 | 253 | 253 |
+----------------------------------+---+-----------+-----------+----------+
| Merger reserve | | 3,250 | 3,250 | 3,250 |
+----------------------------------+---+-----------+-----------+----------+
| Retained earnings | | (6,647) | (5,632) | (5,579) |
+----------------------------------+---+-----------+-----------+----------+
| Total equity attributable to | | 2,627 | 751 | 3,695 |
| equity holders of the Company | | | | |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Total equity | | 2,627 | 751 | 3,695 |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Liabilities | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Loans | | - | 100 | - |
+----------------------------------+---+-----------+-----------+----------+
| Deferred tax liabilities | | 198 | 231 | 215 |
+----------------------------------+---+-----------+-----------+----------+
| Long-term provisions | | - | 696 | - |
+----------------------------------+---+-----------+-----------+----------+
| Total non-current liabilities | | 198 | 1,027 | 215 |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| Trade and other payables | | 117 | 622 | 124 |
+----------------------------------+---+-----------+-----------+----------+
| Other creditors and accruals | | 233 | 589 | 463 |
+----------------------------------+---+-----------+-----------+----------+
| Deferred income | | 9 | 227 | 16 |
+----------------------------------+---+-----------+-----------+----------+
| Short-term provisions | | 75 | 439 | 84 |
+----------------------------------+---+-----------+-----------+----------+
| Total current liabilities | | 434 | 1,877 | 687 |
+----------------------------------+---+-----------+-----------+----------+
| Total liabilities | | 632 | 2,904 | 902 |
+----------------------------------+---+-----------+-----------+----------+
| Total equity and liabilities | | 3,259 | 3,655 | 4,597 |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
| | | | | |
+----------------------------------+---+-----------+-----------+----------+
Condensed consolidated interim statement of changes in equity
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | Share | | | | | | | | |
| | capital | | Share | | | | | | |
| | | | based | Capital | | | | Non- | |
| | | Share | payment | redemption | Merger | Retained | Total | controlling | Total |
| | | premium | reserve | reserve | reserve | earnings | | interest | equity |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| 1 July | 1,161 | 4,543 | 67 | 253 | 3,250 | (5,579) | 3,695 | - | 3,695 |
| 2009 | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| Loss for | - | - | - | - | - | (1,068) | (1,068) | - | (1,068) |
| the period | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | 1,161 | 4,543 | 67 | 253 | 3,250 | (6,647) | 2,627 | - | 2,627 |
| 31 | | | | | | | | | |
| December | | | | | | | | | |
| 2009 | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| 1 July | 787 | 906 | 51 | 253 | 3,250 | (4,002) | 1,245 | - | 1,245 |
| 2008 | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| Loss for | - | - | - | - | - | (1,630) | (1,630) | - | (1,630) |
| the period | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| Issue of | 72 | 1,050 | - | - | - | - | 1,122 | - | 1,122 |
| new shares | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| Share-based | - | - | 14 | - | - | - | 14 | - | 14 |
| payment | | | | | | | | | |
| transactions | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | 859 | 1,956 | 65 | 253 | 3,250 | (5,632) | 751 | - | 751 |
| 31 | | | | | | | | | |
| December | | | | | | | | | |
| 2008 | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| |
+----------------------------------------------------------------------------------------------------------------+
| 1 July | 787 | 906 | 51 | 253 | 3,250 | (4,002) | 1,245 | - | 1,245 |
| 2008 | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| Loss for | - | - | - | - | - | (1,577) | (1,577) | - | (1,577) |
| the period | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| Issue of | 374 | 3,637 | - | - | - | - | 4,011 | - | 4,011 |
| new shares | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| Share-based | - | - | 16 | - | - | - | 16 | - | 16 |
| payment | | | | | | | | | |
| transactions | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | 1,161 | 4,543 | 67 | 253 | 3,250 | (5,579) | 3,695 | - | 3,695 |
| 30 June | | | | | | | | | |
| 2009 | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
| | | | | | | | | | |
+--------------+---------+---------+---------+------------+---------+----------+---------+-------------+---------+
Condensed consolidated interim statement of cash flows
+-------------------------------+-----------+-----------+----------+
| | Six | Six | Year to |
| | months | months | 30 June |
| | to | to | 2009 |
| | 31 | 31 | audited |
| | December | December | GBP'000 |
| | 2009 | 2008 | |
| | unaudited | unaudited | |
| | GBP'000 | GBP'000 | |
+-------------------------------+-----------+-----------+----------+
| | | | |
+-------------------------------+-----------+-----------+----------+
| Cash flows from operating | | | |
| activities | | | |
| | | | |
+-------------------------------+-----------+-----------+----------+
| Loss for the period | (1,068) | (1,630) | (2,366) |
+-------------------------------+-----------+-----------+----------+
| Adjustments for: | | | |
+-------------------------------+-----------+-----------+----------+
| Depreciation | 33 | 19 | 21 |
+-------------------------------+-----------+-----------+----------+
| Amortisation of intangible | 59 | 59 | 118 |
| assets | | | |
+-------------------------------+-----------+-----------+----------+
| Share based payments | - | 14 | 16 |
+-------------------------------+-----------+-----------+----------+
| | (976) | (1,538) | (2,211) |
+-------------------------------+-----------+-----------+----------+
| Change in inventories | 93 | 55 | (278) |
+-------------------------------+-----------+-----------+----------+
| Change in trade and other | (105) | 932 | 297 |
| receivables | | | |
+-------------------------------+-----------+-----------+----------+
| Change in trade and other | (225) | (525) | (59) |
| payables | | | |
+-------------------------------+-----------+-----------+----------+
| Change in provisions | (9) | 57 | - |
+-------------------------------+-----------+-----------+----------+
| Change in deferred income | 7 | - | (33) |
+-------------------------------+-----------+-----------+----------+
| | (1,215) | (1,019) | (2,284) |
+-------------------------------+-----------+-----------+----------+
| Interest income | - | (10) | (10) |
+-------------------------------+-----------+-----------+----------+
| Net cash (used in) operating | (1,215) | (1,029) | (2,294) |
| activities | | | |
+-------------------------------+-----------+-----------+----------+
| | | | |
+-------------------------------+-----------+-----------+----------+
| Cash flows from investing | | | |
| activities | | | |
+-------------------------------+-----------+-----------+----------+
| Interest received | - | 10 | 10 |
+-------------------------------+-----------+-----------+----------+
| Purchase of property, plant | (88) | (12) | (2) |
| and equipment | | | |
+-------------------------------+-----------+-----------+----------+
| Net cash (used in)/from | (88) | (2) | 8 |
| investing activities | | | |
+-------------------------------+-----------+-----------+----------+
| | | | |
+-------------------------------+-----------+-----------+----------+
| Cash flows from financing | | | |
| activities | | | |
+-------------------------------+-----------+-----------+----------+
| Proceeds from issue of share | - | 1,122 | 4,011 |
| capital | | | |
+-------------------------------+-----------+-----------+----------+
| Capital element of finance | - | (3) | - |
| lease | | | |
+-------------------------------+-----------+-----------+----------+
| Net cash from financing | - | 1,119 | 4,011 |
| activities | | | |
+-------------------------------+-----------+-----------+----------+
| | | | |
+-------------------------------+-----------+-----------+----------+
| Net (decrease)/ increase/ in | (1,303) | 88 | 1,725 |
| cash and cash equivalents | | | |
+-------------------------------+-----------+-----------+----------+
| Cash and cash equivalents at | 2,230 | 281 | 505 |
| beginning of period | | | |
+-------------------------------+-----------+-----------+----------+
| | | | |
+-------------------------------+-----------+-----------+----------+
| Cash and cash equivalents at | 927 | 369 | 2,230 |
| end of the period | | | |
+-------------------------------+-----------+-----------+----------+
Notes to the condensed consolidated interim financial statements
1 Nature of operations and general information
Mid-States PLC and subsidiaries' ('the Group') principal activities are in the
area of environmental technology, focussing in particular on its innovative air
disinfection products.
Mid-States PLC is the Group's ultimate parent company. It is incorporated and
domiciled in Great Britain. Mid-States PLC's shares are listed on the
Alternative Investment Market of the London Stock Exchange.
Mid-States PLC consolidated interim financial statements are presented in Pounds
Sterling.
These consolidated condensed interim financial statements have been approved for
issue by the Board of Directors on 29 March 2010.
The financial information set out in this interim report does not constitute
statutory accounts as defined in Section 434 of the Companies Act 2006. The
Group's statutory financial statements for the year ended 30 June 2009, prepared
under International Financial Reporting Standards (IFRS), have been filed with
the Registrar of Companies. The auditor's report on those financial statements
was unqualified and did not contain statements under Section 498(2) or Section
498(3) of the Companies Act 2006.
2 Basis of preparation
The condensed consolidated interim financial statements for the six months ended
31 December 2009 have been prepared in accordance with the accounting policies
which will be applied in the year end financial statements to 30 June 2010.
These accounting policies are drawn up in accordance with International
Accounting Standards (IAS) and International Financial Reporting Standards
(IFRS) as issued by the International Accounting Standards Board and as adopted
for use in the European Union that are effective at 31 December 2009. This
interim report is condensed with respect to IFRS requirements. As permitted,
this interim report has been prepared in accordance with AIM rules for companies
and not in accordance with IAS 34 "Interim Financial Reporting".
The condensed consolidated interim financial statements are unaudited and have
not been subject to review. They do not include all the information and
disclosures required in the annual financial statements, and therefore should be
read in conjunction with the Group's annual financial statements as at 30 June
2009. These financial statements have been prepared under the historical cost
convention. The accounting policies have been applied consistently throughout
the Group for the purposes of preparation of these condensed consolidated
interim financial statements.
Changes in accounting policy
In the current financial year, the Group has adopted International Financial
Reporting Standard 8 "Operating Segments" and International Accounting Standards
1 "Presentation of Financial Statements" (revised).
IAS 1 (revised) requires changes in presentation in the primary statements but
does not affect the financial position or profits and losses of the group.
Notes to the condensed consolidated interim financial statements
Continued
3 Loss per share
The calculation of the basic loss per share is based on the loss attributable to
ordinary shareholders divided by the weighted average number of shares in issue
during the year. The calculation of diluted earnings per share is based on the
basic earnings per share, adjusted to allow for the issue of shares and the post
tax effect of dividends and/or interest, on the assumed conversion of all
dilutive options and other dilutive potential ordinary shares.
+----------------------------------+-------------+------------+------------+
| | Six | Six | Year to |
| | months | months | 30 June |
| | to | to | 2009 |
| | 31 | 31 | unaudited |
| | December | December | |
| | 2009 | 2008 | |
| | unaudited | unaudited | |
+----------------------------------+-------------+------------+------------+
| | GBP'000 | GBP'000 | GBP'000 |
+----------------------------------+-------------+------------+------------+
| Loss per share | | | |
+----------------------------------+-------------+------------+------------+
| Loss for the period (continuing | (1,068) | (1,002) | (2,366) |
| operations) | | | |
+----------------------------------+-------------+------------+------------+
| Loss for the period (total | (1,068) | (1,630) | (1,577) |
| operations) | | | |
+----------------------------------+-------------+------------+------------+
| | | | |
+----------------------------------+-------------+------------+------------+
| Weighted average number of | | | |
| shares | | | |
+----------------------------------+-------------+------------+------------+
| For the purposes of basic loss | 116,082,412 | 85,726,920 | 93,432,152 |
| per share | | | |
+----------------------------------+-------------+------------+------------+
| For the purposes of diluted loss | 116,082,412 | 85,726,920 | 93,432,152 |
| per share | | | |
+----------------------------------+-------------+------------+------------+
| | | | |
+----------------------------------+-------------+------------+------------+
| Basic and diluted loss per share | (0.90)p | (1.17)p | (2.53)p |
| (continuing operations) | | | |
+----------------------------------+-------------+------------+------------+
| Basic and diluted loss per share | (0.90)p | (1.90)p | (2.53)p |
| (total operations) | | | |
+----------------------------------+-------------+------------+------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR KKCDPABKDKNB
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