Quarterly Report
21 Januar 2008 - 8:00AM
UK Regulatory
RNS Number:0680M
Investika Ltd
21 January 2008
21 January 2008
INVESTIKA LTD
('the Company')
Please find enclosed the Company's ASX Appendix 4C announcement relating to its
quarterly cash flow report required under ASX rules
Enquires to:
Chrisilios Kyriakou, Chief Executive Officer
Investika Ltd
Telephone: 020 7514 1480
James Joyce / Sarang Shah
WH Ireland Limited
Telephone: 020 7220 1666
Appendix 4C
Quarterly report
for entities admitted
on the basis of commitments
Introduced 31/3/2000. Amended 30/9/2001, 24/10/2005.
Name of entity
INVESTIKA LTD
ABN Quarter ended ("current quarter")
45 000 673 423 31 DECEMBER 2007
Consolidated statement of cash flows
Current quarter Year to date
(12.months)
Cash flows related to operating activities $A'000
$A'000
1.1 Receipts from customers - 188
1.2 Payments for (a) staff costs (270) (776)
(b) advertising - -
and marketing
(c) research - -
and development
(d) leased - -
assets
(e) other working capital (1,516) (3,709)
1.3 Dividends received - -
1.4 Interest and other items of a similar nature 6 70
received
1.5 Interest and other costs of finance paid (39) (39)
1.6 Income taxes paid - -
1.7 Other (provide details if material)
- Audit, tax, legal and professional
fees and annual report (152) (330)
- Internet and communication charges (8) (21)
- Rent & Office (26) (77)
- Other operating expenses (90) (267)
- Recovery of working capital advanced - 2,460
Net operating cash flows (2,095) (2,501)
Current quarter Year to date
(12.months)
$A'000 $A'000
1.8 Net operating cash flows (carried forward) (2,095) (2,501)
Cash flows related to investing activities
1.9 Payment for acquisition of:
(a) businesses (item 5) - -
(b) equity investments (963) (1,264)
(c) intellectual property - -
(d) physical non-current assets - (2)
(e) other non-current assets - -
1.10 Proceeds from disposal of:
(a) businesses (item 5) - -
(b) equity investments - 914
(c) intellectual property - -
(d) physical non-current assets - -
(e) other non-current assets - -
1.11 Loans to other entities (1,674) (3,427)
1.12 Loans repaid by other entities - 23
1.13 Other (provide details if material) 3,302 3,302
Net investing cash flows 665 (454)
1.14 Total operating and investing cash flows (1,430) (2,955)
Cash flows related to financing activities
1.15 Proceeds from issues of shares, options, etc. - -
1.16 Proceeds from sale of forfeited shares - -
1.17 Proceeds from borrowings 3,200 3,200
1.18 Repayment of borrowings - -
1.19 Dividends paid - -
1.20 Other (provide details if material) - -
Net financing cash flows
3,200 3,200
Net increase (decrease) in cash held 1,770 245
1.21 Cash at beginning of quarter/year to date 529 2,054
1.22 Exchange rate adjustments to item 1.13 (55) (55)
1.23 Cash at end of quarter
2,244 2,244
Included in item 1.2 (e) 'payments for other working capital' for the quarter
are payments of $1,440,000 in respect of the Company's share of development
expenditure in respect of the Chile copper project and $76,000 in respect of the
Company's development expenditure on the Belitung zinc project.
Included in item 1.9(b) 'payment for acquisition of equity investments' for the
quarter is the purchase of additional shares in Tarquin Resources plc at a cost
of $963,000.
Item 1.13 relates to cash acquired following Tarquin Resources plc and Belitung
Zinc Corporation plc becoming subsidiaries on 22 November 2007.
Item 1.17 relates to a short-term unsecured loan from Capma Pty Ltd, a company
in which Mr C Kyriakou, a Director, has an interest.
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related
entities
Current quarter
$A'000
1.24 Aggregate amount of payments to the parties included in item 1.2 118
1.25 Aggregate amount of loans to the parties included in item 1.11 1,674
1.26 Explanation necessary for an understanding of the transactions
1.24 Relates to Directors' Remuneration and Rent paid.
1.25 Relates to a short-term loan advanced to Tarquin Resources plc, which company is the
Company's Joint Venture Partner developing the Chile copper project, prior to that company
becoming a subsidiary of the Company.
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on consolidated
assets and liabilities but did not involve cash flows
On 22 November 2007, the Company allotted 2,316,987 Ordinary Shares, with a deemed value of
$10,195,000 to acquire further shares in Tarquin Resources plc and Belitung Zinc Corporation plc with
the effect that both of those companies became subsidiaries of the Company on that day.
2.2 Details of outlays made by other entities to establish or increase their share in businesses in which
the reporting entity has an interest
None.
Financing facilities available
Add notes as necessary for an understanding of the position. (See AASB 1026
paragraph 12.2).
Amount available Amount used
$A'000 $A'000
3.1 Loan facilities Nil Nil
3.2 Credit standby arrangements Nil Nil
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as Current quarter Previous quarter
shown in the consolidated statement of cash flows)
to the related items in the accounts is as follows. $A'000 $A'000
4.1 Cash on hand and at bank 458 143
4.2 Deposits at call 1,612 214
4.3 Bank overdraft -
4.4 Other (US$ account) 174 172
Total: cash at end of quarter (item 1.23) 2,244 529
Acquisitions and disposals of business entities
Acquisitions Disposals
(Item 1.9(a)) (Item 1.10(a))
5.1 Name of entity Tarquin Resources plc /Belitung
Zinc Corporation plc
5.2 Place of incorporation Both incorporated in UK
or registration
5.3 Consideration for 2,316,987 Ordinary Shares, with a
acquisition or disposal deemed value of $10,195,000
5.4 Total net assets $10,195,000
5.5 Nature of business Mining exploration and development
Compliance statement
1 This statement has been prepared under accounting policies which comply
with accounting standards as defined in the Corporations Act.
2 This statement does give a true and fair view of the matters disclosed.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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