TIDMENF
RNS Number : 2863X
Enfis Group PLC
12 August 2009
12 August 2009
ENFIS GROUP
PLC
("Enfis" or "the Company")
Interim results for the six month period ended 30 June 2009 and Trading update
The market for high brightness LEDs was $5.1 billion in 2008. The lighting
sector (including architectural, retail display and entertainment lighting)
represented 9% of the market and was the fastest growing sector in 2008 with
year on year growth of 39%*.
Enfis, a leader in the design, development and manufacture of intelligent high
power light emitting diode (LED) arrays and smart light engines, produces
products which address these markets. The Company today announces its interim
results for the six months ended 30 June 2009.
Overview
Key highlights of the period were:
Ø Fundraising completed in April 2009 for approximately GBP2m gross of
associated expenses
Ø An increase of 35% in revenue on the same period last year
Ø Signed Gekko contract for studio lighting applications
Ø Established Enfis US to address the rapidly growing North American opportunity
Ø Continue to pursue a large pipeline of opportunities covering numerous areas
of SSL lighting applications
Ø Completing major Middle East project; expected to go live for global
showcasing in November 2009
Ø Major contract slippage against uncertain economic outlook for end customers.
Over GBP3.5m in revenue opportunities deferred to 2010
Shaun Oxenham, Chairman, commented:
"During the first half of 2009, Enfis has continued to pursue the large pipeline
of SSL opportunities reported in the full year results statement of March 2009.
Enfis has achieved a number of key goals including raising additional funds,
setting up Enfis US and signing further contracts. However, as a result of the
economic crisis during the first half of 2009, a number of projects have
experienced delays associated with funding confidence. Consequently, although
revenue was 35% higher than the same period for 2008, it was lower than
management expectations. As financing confidence returns, we expect these
delayed projects to result in orders in 2010.
Despite the slippage in revenue conversion the Company is still confident that
we have a significant revenue pipeline to exploit and expect more opportunities
to arise, particularly as we bring on line one of our global showcase lighting
projects in the Middle East, which is nearing completion and due for full
operation by November 2009. We are also confident in the contracts that have
already been signed and remain in force and which will set Enfis up well for
2010."
* Strategies in Light 2009
Enquiries
Enfis Group plc (www.enfis.com) Tel: +44 (0) 1792 485660
Shaun Oxenham, Chairman
Giles Davies, Chief Financial Officer
Threadneedle Communications Tel: +44 (0) 20 7653 9850
Graham Herring / Josh Royston
Noble & Company LimitedTel: +44 (0) 20 7763 2200
John Llewellyn-Lloyd / Sam Reynolds
About Enfis
Enfis is a global leader in the design, development and manufacture of
intelligent, high-power light emitting diode (LED) light engines and arrays
across a wide range of wavelengths. With global headquarters in the UK, and
carefully chosen specialist partners and distributors, its unique range of
plug-and-play, 'straight from the box' light engine solutions are manufactured
and sold around the world.
Using cutting-edge technology developed via an enviable academic heritage, Enfis
continues to lead the way in enabling smart, efficient solutions for Solid State
Lighting.
Chairman's Statement
Introduction
During the first half of 2009, Enfis has continued to pursue the large pipeline
of SSL opportunities reported in the full year results statement of March 2009.
Enfis has achieved a number of key goals including raising additional funds,
setting up Enfis US and signing further contracts. However, as a result of the
economic crisis during the first half of 2009, a number of projects have
experienced delays associated with funding confidence. Consequently, although
revenue was 35% higher than the same period for 2008, it was lower than
management expectations. As financing confidence returns, we expect these
delayed projects to result in orders in 2010. Despite the slippage in revenue
conversion the Company is still confident that we have a significant revenue
pipeline to exploit in the coming year and expect many more opportunities to
arise, particularly as we bring on line one of our global showcase lighting
projects in the Middle East, which is nearing completion and due for full
operation by November 2009. We are also confident in the contracts that have
already been signed and remain in force and which will set Enfis up well for
2010.
In light of these challenges and to respond to the changing needs of the Company
as focus turns to high volume production, we have recently made some high level
management changes to ensure even greater emphasis on contract conversion and
rapid revenue growth. We are confident that as project funding eases, the
challenge will be to manage accelerating revenue growth, Our customers have made
it clear that they are committed to use our leading edge light engine
technology.
We expect contracts that were forecast to close in Q2, to now be signed during
the second half of 2009 and in 2010 and to contribute to the 2010/11 revenues.
This will provide clear confidence to all that Enfis remains on track to become
cash generative and profitable in the near future and that our funding is
sufficient to take us through to full profitability.
Product Development
As detailed in the full year results, Enfis continues to drive improvements in
its current product set. The Company expects to complete and release several
important product developments in the second half of 2009 which will further
support its growth in 2010.
Financial Performance
Despite being on track at the end of the first quarter, revenue for the first
six months to 30 June 2009 was affected by project funding availability.
Nonetheless, several key objectives were achieved:
* Although less than anticipated, revenue has increased by 35% on the
corresponding period in 2008, in what are widely regarded as extremely
challenging trading conditions.
* Gross margin, at 35% for the period, has increased 5% on prior year.
* The administrative cost base has been reduced by 30% on the first half of 2008.
The reduction in the cost base has offset the lower than expected revenues and
management remains confident that current cash balances will be sufficient to
see the Company through to full profitability.
Outlook and trading update
We expect that conversion of sales in 2009 will remain difficult to forecast
until our customers can see greater confidence in the project funding
environment. In addition, many companies have delayed projects pending better
visibility of the general economic environment.
As a result of this we have seen major contract slippage and the board has
reviewed its 2009 revenue pipeline. The lack of signed contracts has caused the
board to conclude that at least GBP3.5m of revenue opportunities will now move
into 2010.
It is clear that we still have significant product advantages in the market and
we have taken actions to broaden the appeal of our product lines. It is also
becoming increasingly clear that political and environmental pressures will play
an increasingly important role in driving the SSL market. We have taken
structural steps to support conversion of key contracts to revenue. We remain
confident that our products will play a key role in the rapid adoption of solid
state lighting and look forward to seeing some of our high profile projects
which have been installed and tested go live later this year.
Shaun Oxenham
Chairman
12 August 2009
Consolidated income statement
for the six month period ended 30 June 2009
+-------+----------------+-------------+-------------+------------+
| | | 6 months | 6 months | Year ended |
| | | ended 30 | ended 30 | 31 |
| | | June 2009 | June | December |
| | | (unaudited) | 2008 | 2008 |
| | | | (unaudited) | (audited) |
+-------+----------------+-------------+-------------+------------+
| Notes | | GBP000 | GBP000 | GBP000 |
+-------+----------------+-------------+-------------+------------+
| | Revenue | 530 | 392 | 1,628 |
+-------+----------------+-------------+-------------+------------+
| | Cost of | (342) | (272) | (1,023) |
| | sales | | | |
+-------+----------------+-------------+-------------+------------+
| | Gross | 188 | 120 | 605 |
| | profit | | | |
+-------+----------------+-------------+-------------+------------+
| | Administrative | (881) | (1,247) | (2,608) |
| | expenses | | | |
+-------+----------------+-------------+-------------+------------+
| | Other income | 15 | 22 | 73 |
+-------+----------------+-------------+-------------+------------+
| | Operating | (678) | (1,105) | (1,930) |
| | loss for the | | | |
| | period | | | |
+-------+----------------+-------------+-------------+------------+
| | Net finance | (2) | 29 | 33 |
| | (cost)/income | | | |
+-------+----------------+-------------+-------------+------------+
| | Loss before | (680) | (1,076) | (1,898) |
| | taxation | | | |
+-------+----------------+-------------+-------------+------------+
| | Taxation | - | 284 | 556 |
+-------+----------------+-------------+-------------+------------+
| | Loss after | (680) | (792) | (1,342) |
| | taxation | | | |
+-------+----------------+-------------+-------------+------------+
Attributable to:
+----+-------------------+----------+----------+----------+
| | Equity holders of | (680) | (792) | (1,342) |
| | the company | | | |
+----+-------------------+----------+----------+----------+
| | | | | |
+----+-------------------+----------+----------+----------+
| | Earnings per | | | |
| | share for loss | | | |
| | attributable to | | | |
| | the equity | | | |
| | holders of the | | | |
| | Company | | | |
+----+-------------------+----------+----------+----------+
| | - basic and | (5.7p) | (8.5p) | (14.4p) |
| | diluted | | | |
+----+-------------------+----------+----------+----------+
| | | | | |
+----+-------------------+----------+----------+----------+
All activities above relate to the continuing operations of the group.
Consolidated balance sheet
As at 30 June 2009
+-------+---------------+-------------+-------------+------------+
| | | 30 June | 30 June | 31 |
| | | 2009 | 2008 | December |
| | | (unaudited) | (unaudited) | 2008 |
| | | | | (audited) |
+-------+---------------+-------------+-------------+------------+
| Notes | Assets | GBP000 | GBP000 | GBP000 |
+-------+---------------+-------------+-------------+------------+
| | Non-current | | | |
| | assets | | | |
+-------+---------------+-------------+-------------+------------+
| | Property, | 166 | 248 | 218 |
| | plant and | | | |
| | equipment | | | |
+-------+---------------+-------------+-------------+------------+
| | Intangible | 527 | 558 | 540 |
| | assets | | | |
+-------+---------------+-------------+-------------+------------+
| | | 693 | 806 | 758 |
+-------+---------------+-------------+-------------+------------+
| | Current | | | |
| | assets | | | |
+-------+---------------+-------------+-------------+------------+
| | Inventories | 369 | 288 | 351 |
+-------+---------------+-------------+-------------+------------+
| | Trade and | 487 | 426 | 218 |
| | other | | | |
| | receivables | | | |
+-------+---------------+-------------+-------------+------------+
| | Corporation | 271 | 284 | 271 |
| | tax | | | |
| | receivable | | | |
+-------+---------------+-------------+-------------+------------+
| | Cash and cash | 1,415 | 1,080 | 641 |
| | equivalents | | | |
+-------+---------------+-------------+-------------+------------+
| | | 2,543 | 2,078 | 1,482 |
+-------+---------------+-------------+-------------+------------+
| | Total assets | 3,236 | 2,884 | 2,240 |
+-------+---------------+-------------+-------------+------------+
| | | | | |
+-------+---------------+-------------+-------------+------------+
| | Capital and | | | |
| | reserves | | | |
| | attributable | | | |
| | to equity | | | |
| | holders of | | | |
| | the company | | | |
+-------+---------------+-------------+-------------+------------+
| | Ordinary | 1,498 | 938 | 938 |
| | shares | | | |
+-------+---------------+-------------+-------------+------------+
| | Share premium | 5,294 | 4,067 | 4,067 |
+-------+---------------+-------------+-------------+------------+
| | Share option | 185 | 102 | 144 |
| | reserve | | | |
+-------+---------------+-------------+-------------+------------+
| | Reverse | 2,284 | 2,284 | 2,284 |
| | acquisition | | | |
| | reserve | | | |
+-------+---------------+-------------+-------------+------------+
| | Retained | (6,447) | (5,217) | (5,767) |
| | losses | | | |
+-------+---------------+-------------+-------------+------------+
| 3 | Total equity | 2,814 | 2,174 | 1,666 |
+-------+---------------+-------------+-------------+------------+
| | | | | |
+-------+---------------+-------------+-------------+------------+
| | Liabilities | | | |
+-------+---------------+-------------+-------------+------------+
| | Non-current | | | |
| | liabilities | | | |
+-------+---------------+-------------+-------------+------------+
| | Deferred | 20 | 80 | 35 |
| | income | | | |
+-------+---------------+-------------+-------------+------------+
| | Borrowings | 43 | 80 | 58 |
+-------+---------------+-------------+-------------+------------+
| | | 63 | 160 | 93 |
+-------+---------------+-------------+-------------+------------+
| | Current | | | |
| | liabilities | | | |
+-------+---------------+-------------+-------------+------------+
| | Trade and | 321 | 500 | 433 |
| | other | | | |
| | payables | | | |
+-------+---------------+-------------+-------------+------------+
| | Borrowings | 38 | 50 | 48 |
+-------+---------------+-------------+-------------+------------+
| | | 359 | 550 | 481 |
+-------+---------------+-------------+-------------+------------+
| | Total | 422 | 710 | 574 |
| | liabilities | | | |
+-------+---------------+-------------+-------------+------------+
| | | | | |
+-------+---------------+-------------+-------------+------------+
| | Total equity | 3,236 | 2,884 | 2,240 |
| | and | | | |
| | liabilities | | | |
+-------+---------------+-------------+-------------+------------+
Consolidated cash flow statement
for the six month period ended 30 June 2009
+-------+--------------------+-------------+-------------+-----------+
| | | 6 months | 6 months | Year |
| | | ended 30 | ended 30 | ended 31 |
| | | June 2009 | June 2008 | December |
| | | (unaudited) | (unaudited) | 2008 |
| | | | | (audited) |
+-------+--------------------+-------------+-------------+-----------+
| Notes | | GBP000 | GBP000 | GBP000 |
+-------+--------------------+-------------+-------------+-----------+
| | | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Cash outflows from | | | |
| | operating | | | |
| | activities | | | |
+-------+--------------------+-------------+-------------+-----------+
| 2 | Cash used in | (939) | (1,184) | (1,812) |
| | operations | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Interest paid | (6) | (12) | (21) |
+-------+--------------------+-------------+-------------+-----------+
| | R&D tax credits | - | - | 284 |
| | received | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Net cash (used) in | (945) | (1,196) | (1,549) |
| | operating | | | |
| | activities | | | |
+-------+--------------------+-------------+-------------+-----------+
| | | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Cash flows from | | | |
| | investing | | | |
| | activities | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Purchase of | (1) | (47) | (59) |
| | property, plant | | | |
| | and equipment | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Purchase of | (45) | (218) | (316) |
| | intangible assets | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Receipt of | 0 | 7 | 42 |
| | government grants | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Interest received | 4 | 41 | 54 |
+-------+--------------------+-------------+-------------+-----------+
| | Net cash (used) | (43) | (217) | (278) |
| | from investing | | | |
| | activities | | | |
+-------+--------------------+-------------+-------------+-----------+
| | | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Cash flows from | | | |
| | financing | | | |
| | activities | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Proceeds from the | 1,787 | 527 | 527 |
| | issuance of | | | |
| | ordinary shares | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Proceeds from | - | - | - |
| | borrowings | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Repayments of | (15) | (15) | (30) |
| | borrowings | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Finance lease | (10) | (18) | (28) |
| | principal | | | |
| | repayments | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Net cash generated | 1,792 | 494 | 468 |
| | from financial | | | |
| | activities | | | |
+-------+--------------------+-------------+-------------+-----------+
| | | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Net (decrease) / | 774 | (919) | (1,358) |
| | increase in cash | | | |
| | and cash | | | |
| | equivalents | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Cash and cash | 641 | 1,999 | 1,999 |
| | equivalents at the | | | |
| | beginning of the | | | |
| | period | | | |
+-------+--------------------+-------------+-------------+-----------+
| | Cash and cash | 1,415 | 1,080 | 641 |
| | equivalents at the | | | |
| | end of the period | | | |
+-------+--------------------+-------------+-------------+-----------+
1 Basis of preparation
+--------------+
| This |
| condensed |
| consolidated |
| interim |
| financial |
| information |
| for the six |
| months ended |
| 30 June 2009 |
| has been |
| prepared in |
| accordance |
| with IAS 34, |
| 'Interim |
| financial |
| reporting' |
| as adopted |
| by the |
| European |
| Union. The |
| condensed |
| consolidated |
| interim |
| financial |
| information |
| should be |
| read in |
| conjunction |
| with the |
| annual |
| financial |
| statements |
| for the year |
| ended 31 |
| December |
| 2008, which |
| have been |
| prepared in |
| accordance |
| with IFRSs |
| as adopted |
| by the |
| European |
| Union. |
| The Company |
| is a limited |
| liability |
| company |
| incorporated |
| and |
| domiciled in |
| the UK. The |
| address of |
| its |
| registered |
| office is |
| Technium 2, |
| Kings Road, |
| Swansea |
| Waterfront, |
| Swansea, SA1 |
| 8PJ and the |
| registered |
| number of |
| the company |
| is 06133765. |
| The Company |
| has its |
| primary |
| listing on |
| AIM. |
| This |
| condensed |
| consolidated |
| interim |
| financial |
| information |
| was approved |
| for issue on |
| 12 August |
| 2009. |
| This |
| condensed |
| consolidated |
| interim |
| financial |
| information |
| does not |
| comprise |
| statutory |
| accounts |
| within the |
| meaning of |
| section 434 |
| of the |
| Companies |
| Act 2006. |
| Statutory |
| accounts for |
| the year |
| ended 31 |
| December |
| 2008 were |
| approved by |
| the Board of |
| directors |
| on 6 April |
| 2009 and |
| delivered to |
| the |
| Registrar of |
| Companies. |
| The report |
| of the |
| auditors on |
| those |
| accounts was |
| unqualified, |
| did not |
| contain an |
| emphasis of |
| matter |
| paragraph |
| and did not |
| contain any |
| statement |
| under |
| section 498 |
| of the |
| Companies |
| Act 2006. |
| This |
| condensed |
| consolidated |
| interim |
| financial |
| information |
| has not been |
| reviewed or |
| audited. |
+--------------+
2 Cash used in operations
+--------------------+-------------+-------------+------------+
| | 6 months | 6 months | Year |
| | ended 30 | ended 30 | ended 31 |
| | June 2009 | June | December |
| | (unaudited) | 2008 | 2008 |
| | | (unaudited) | (audited) |
+--------------------+-------------+-------------+------------+
| | GBP000 | GBP000 | GBP000 |
+--------------------+-------------+-------------+------------+
| | | | |
+--------------------+-------------+-------------+------------+
| Loss before income | (680) | (1,076) | (2,047) |
| tax | | | |
+--------------------+-------------+-------------+------------+
| Adjustments for: | | | |
+--------------------+-------------+-------------+------------+
| - Depreciation | 38 | 35 | 59 |
+--------------------+-------------+-------------+------------+
| - Amortisation - | 73 | 60 | 52 |
| intangibles | | | |
+--------------------+-------------+-------------+------------+
| - Write-off of | - | - | 49 |
| patents | | | |
+--------------------+-------------+-------------+------------+
| - Amortisation - | (15) | (23) | (137) |
| grants | | | |
+--------------------+-------------+-------------+------------+
| - Share based | 41 | 41 | 62 |
| payments | | | |
+--------------------+-------------+-------------+------------+
| - Government grant | - | - | 42 |
| income | | | |
+--------------------+-------------+-------------+------------+
| - Net finance | 2 | (29) | (33) |
| (income) | | | |
+--------------------+-------------+-------------+------------+
| Changes in working | | | |
| capital: | | | |
+--------------------+-------------+-------------+------------+
| - Inventories | (18) | (10) | (73) |
+--------------------+-------------+-------------+------------+
| - Trade and other | (222) | (213) | (7) |
| receivables | | | |
+--------------------+-------------+-------------+------------+
| - Trade and other | (159) | 31 | (62) |
| payables | | | |
+--------------------+-------------+-------------+------------+
| Cash used in | (939) | (1,184) | (1,812) |
| operations | | | |
+--------------------+-------------+-------------+------------+
3 Combined statement of movements in equity, shareholders funds' and
statement of movement on reserves (Group)
+--------------+----------+----------+----------+-------------+----------+----------+
| | Ordinary | Share | Share | Reverse | Retained | Total |
| | share | premium | option | acquisition | losses | |
| | capital | | reserve | reserve | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| At 1 January | 894 | 3,585 | 61 | 2284 | (4,425) | 2,399 |
| 2008 in | | | | | | |
| Enfis Group | | | | | | |
| Plc | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| Issue of new | 44 | 494 | - | - | - | 538 |
| shares | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| Expenses | - | (12) | - | - | - | (12) |
| incurred on | | | | | | |
| issue of new | | | | | | |
| shares | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| Loss for the | - | - | 41 | - | (792) | (751) |
| period | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| At 30 June | 938 | 4067 | 102 | 2,284 | (5,217) | 2,174 |
| 2008 in | | | | | | |
| Enfis Group | | | | | | |
| plc | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
+--------------+----------+----------+----------+-------------+----------+----------+
| | Ordinary | Share | Share | Reverse | Retained | Total |
| | share | premium | option | acquisition | losses | |
| | capital | | reserve | reserve | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 |
+--------------+----------+----------+----------+-------------+----------+----------+
| Balance at 1 | 894 | 3,585 | 62 | 2,284 | (4,425) | 2399 |
| January 2008 | | | | | | |
| in Enfis | | | | | | |
| Group Plc | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| Issue of new | 45 | 482 | - | - | - | 527 |
| shares | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| Loss for the | - | - | 82 | - | (1,342) | (1,260) |
| period | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| At 31 | 938 | 4,067 | 144 | 2,284 | (5,767) | 1,666 |
| December | | | | | | |
| 2008 in | | | | | | |
| Enfis Group | | | | | | |
| plc | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
+--------------+----------+----------+----------+-------------+----------+----------+
| | Ordinary | Share | Share | Reverse | Retained | Total |
| | | premium | option | acquisition | | |
| | share | | reserve | reserve | losses | |
| | capital | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| At 1 January | 938 | 4,067 | 144 | 2,284 | (5,767) | 1,666 |
| 2009 | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| Issue of new | 560 | 1,456 | - | - | - | 2,016 |
| shares | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| Expenses | - | (229) | - | - | - | (229) |
| incurred on | | | | | | |
| issue of new | | | | | | |
| shares | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| Loss for the | - | - | 41 | - | (680) | (639) |
| period | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
| At 30 June | 1,498 | 5,294 | 185 | 2,284 | (6,447) | 2,814 |
| 2009 | | | | | | |
+--------------+----------+----------+----------+-------------+----------+----------+
Share Issue
On 6 April 2009 Enfis Group plc issued 5,600,000 GBP0.1 new ordinary shares. The
placing represented approximately 37.4% of the company's issued shared capital
immediately following the placing. The placing generated gross proceeds of
GBP2,016,000.
This information is provided by RNS
The company news service from the London Stock Exchange
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IR EAPPFFSFNEFE
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