GUS Gusbourne Plc

    RNS Number : 6556H
  Shellproof Limited
  06 November 2008
   

    Shellproof Limited announces interim results for the period ended 30 September 2008

    Belize City, Belize, 6 November 2008 - Shellproof Limited (London-AIM: SHLP) ("Shellproof" or the "Company") reported net profit of
�33,000 for the period 3 March 2008 (date of incorporation) to 30 September 2008, its first reported results since becoming listed on AIM in
May 2008. Basic and diluted earnings per ordinary share for the period ended 30 September 2008 amounted to 0.41 pence.
    Shellproof was incorporated on 3 March 2008 with an authorised share capital of �50.0 million, comprising 100,000,000 ordinary shares of
50 pence each. On incorporation, one ordinary share was issued and allotted for cash which was held by Carlisle Group Limited ("Carlisle"),
its then parent company. On 14 March 2008, Carlisle subscribed for an additional 7,999,999 Shellproof Shares for a total cash subscription
consideration of �3,999,999.50. The Company placed the proceeds into a UK sterling interest bearing deposit account earning interest at
market rates. As part of a series of transactions, in March 2008, Carlisle declared a dividend which was satisfied by the transfer of the
Company's ordinary shares.
    The Company's accounting reference date is 31 March. The first audited financial statements of Shellproof will be prepared under IFRS
for the period from 3 March 2008 (being the date of incorporation) to 31 March 2009. Further details of the Company are set out in the
Company's AIM Admission document dated 25 April 2008 and available on the Company's website. 
    The Company will continue its search for investment opportunities in line with its stated strategy which includes possible investment in
either one or more private or publicly owned investment vehicles in the business and consumer services sectors predominantly in Western
Europe, including the United Kingdom, and other English speaking countries.

    For further information contact:

    Shellproof Limited                
    Belize +501 223 5989                
    UK +44 (0)20 7248 6700

    Note: This and other press releases are available at the Company's web site:
http://www.shellprooflimited.com. 


 Shellproof Limited
 Summarised income statement (unaudited) for the period               �000
 3 March 2008 to 30 September 2008
 Financial - interest income                                           88 
 Administrative expenses                                              (55)
 Net profit before and after taxation                                  33 
 Earnings per ordinary share (basic and diluted) (in pence)          0.41 
 Number of ordinary shares at period end                         8,000,000

 Summarised balance sheet (unaudited) at 30 September 2008            �000
 Current assets
 Cash and cash equivalents                                          4,067 
 Current liabilities
 Other payables                                                       (34)
 Net assets                                                         4,033 

 Shareholders' equity
 Share capital                                                      4,000 
 Retained earnings                                                     33 
 Total shareholders' equity                                         4,033 

 Summarised statement of cash flows (unaudited) for the period        �000
 3 March 2008 to 30 September 2008
 Operating activities                                             
 Net cash generated from operating activities                           67
 Financing activities
 Proceeds from issue of ordinary share capital                       4,000
                                                                    
 Increase in cash for the period and at period end                   4,067

    Notes to the unaudited financial information
    The Company is not subject to taxation as a result of its status as an International Business Company under the laws of Belize, its
country of incorporation.

    -ENDS-

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