RNS Number:3429T
Azman PLC
28 October 2005


                                   AZMAN PLC

                         INTERIM REPORT FOR THE PERIOD
                       FROM INCORPORATION TO 31 JULY 2005

                              CHAIRMANS STATEMENT


Dear Shareholder

Since your Company was admitted to trading on AIM on 2 March 2005, your Board
has been evaluating a number of reversion candidates for your company and will
notify shareholders as and when a suitable target is achieved.

The Board are pleased to report that costs have been kept to the bare minimum
and that running costs for your company in the last six months excluding listing
costs are #15,067.

The Directors receive no remuneration at present.

28 October 2005



For further information contact

Leo Knifton, Chairman - 020 7251 3762

Nabarro Wells -  020 7710 7400








AZMAN PLC

PROFIT AND LOSS ACCOUNT TO 31ST JULY 2005

                                                                FROM
                                                            INCORPORATION
                                                                 TO
                                              NOTES        31st JULY 2005
                                                            (UNAUDITED)
                                                                  #

Other operating expenses                                      (15,067)

OPERATING LOSS                                                (15,067)

Bank interest receivable                                        3,714

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION                   (11,353)

Taxation                                                          0

RETAINED LOSS FOR THE FINANCIAL PERIOD                         (11,353)

Loss per ordinary share (pence) - Basic        3               (0.01p)
     
                                - Diluted      3               (0.01p)







AZMAN PLC

BALANCE SHEET AS AT 31 JULY 2005

                                                             31st JULY 2005
                                                              (UNAUDITED)
                                                                   #

CURRENT ASSETS

Debtors                                                          14,567
Cash at bank and in hand                                        456,663
                                                                471,230

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR                                                  (5,025)

NET ASSETS                                                      466,205

CAPITAL AND RESERVES

Called up share capital                                          121,750
Share premium account                                            355,808
Profit and loss account current year                            (11,353)

EQUITY SHAREHOLDERS FUNDS                                       466,205






AZMAN PLC

CASH FLOW STATEMENT
FOR THE PERIOD ENDED 31st JULY 2005


                                                                   FROM
                                                               INCORPORATION
                                                                   TO
                                                                31st JULY
                                                                   2005
                                                               (UNAUDITED)
                                                                     #

Net cash outflow from operating activities          4            (24,609)

Returns on investments and servicing of finance     5             3,714

CASH OUTFLOW BEFORE FINANCING                                    (20,895)

Financing                                           6            477,558

INCREASE IN CASH IN THE PERIOD                                   456,663





RECONCILIATION OF MOVEMENTS IN EQUITY SHAREHOLDERS' FUNDS FOR THE PERIOD ENDED
31st JULY 2005

                                                                   FROM
                                                               INCORPORATION
                                                                    TO
                                                              31st JULY 2005
                                                               (UNAUDITED)
                                                                    #

Loss for the period                                             (11,353)

Proceeds from issue of shares                                    535,000

Costs of share issue written off to share premium account       (57,442)

Net addition shareholders' funds                                 466,205

Opening equity shareholders' funds                                  -

Closing equity shareholders' funds                                466,205






AZMAN PLC

NOTES TO THE INTERIM REPORT

     
1    The company was incorporated on 13 January 2005 and was admitted to the 
     Alternative Investment Market (AIM) on 2 March 2005 when it commenced its
     business. The un-audited interim accounts for the period ended 31 July 2005 
     have been prepared on the basis of the accounting policies expected to 
     apply for the current financial period and also under the historical cost 
     convention and in accordance with applicable accounting standards. The 
     company will be required to adopt Financial Reporting Standard 19 "deferred 
     tax" in its statutory financial statements for the period ending 31 January 
     2006, but this is not expected to require material adjustments to the 
     current results.

     The financial information contained in this report does not constitute 
     statutory accounts for the company within the meaning of section 240 of the 
     Companies Act.

     This interim report for the period from incorporation to 31 July 2005 has 
     been approved by the Board.

2    The directors to not recommend the payment of a dividend

3    The basic earnings per share is based on the loss on ordinary activities 
     after taxation of the company attributable to ordinary shareholders on  
     121,750,000 ordinary shares in issue during the period

     The diluted earnings per share have been calculated in accordance with 
     FRS14 "Earnings per share". The existing warrants are exercisable at 0.1p 
     per share.
     
4    Reconciliation of operating loss to net cash outflow from operating 
     activities

     Operating loss                                      (15,067)

     Increase in creditors                                 5,025

     Increase in debtors                                 (14,567)

     Net cash flow from operating activities             (24,609)
     
5    Returns on investment and servicing of finance

     Bank interest                                         3,714

     Net cash outflow from returns on investments and 
     servicing of Finance                                  3,714
          
6    Financing

     Proceeds from share issue                            535,000

     Costs of AIM flotation and share issue              (57,442)

     Net cash inflow from financing                       477,558
     
7    This interim statement will be sent to all shareholders and is also 
     available from the company's registered office at Finsgate, 5-7 Cranwood
     Street, London, EC1V 9EE.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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