10 Dec 2013 07:00
Healthcare Investment Opportunities plc
Unaudited Statement of Comprehensive Income
for the six months to 30 September 2013
Healthcare Investment Opportunities plc (AIM: HIO), an investment company focusing on the healthcare sector, is pleased to announce its inaugural set of unaudited interim results for the six month period ended 30 September 2013. These have been posted to shareholders today and are available on the Company's website at www.healthcareinvestmentopps.co.uk.
Commenting on the results, David Evans, Chairman of Healthcare Investment Opportunities plc said:
"Since HIO listed on AIM in April 2013, both the board and myself have been actively reviewing acquisition opportunities, and have looked at over 30 opportunities in this time. We are delighted that the proposed acquisition of Collbio Limited was announced earlier this morning and are confident that the acquisition will be value enhancing for shareholders if the transaction is approved at the general meeting scheduled for 27 December 2013."
Enquiries:
Healthcare Investment Opportunities Plc | |
David Evans, Chairman
| Tel: 07740 084 452 |
Zeus Capital (Nominated Adviser and Broker) | |
Corporate Finance Ross Andrews John Depasquale | Tel: 0161 831 1512 |
Institutional Sales John Goold Dominic Wilson |
Tel: 020 7533 7727 Tel: 020 7533 7721 |
Walbrook PR Ltd | Tel: 020 7933 8780 or hio@walbrookpr.com |
Paul McManus Mike Wort | Mob: 07980 541 893 |
Unaudited Statement of Comprehensive Income
6 months to 30 September 2013 | ||
£ | ||
Continuing operations | ||
Administrative expenses | (62,631) | |
OPERATING LOSS | (62,631) | |
Interest receivable and similar income | - | |
LOSS BEFORE TAXATION | (62,631) | |
Tax on loss on ordinary activities | - | |
LOSS FOR THE PERIOD | (62,631) | |
Other comprehensive income, net of tax | - | |
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE PARENT | (62,631) |
LOSS PER ORDINARY SHARE (PENCE) | ||
Basic | (Note 2) | (0.15)p |
Diluted | (Note 2) | (0.15)p |
Unaudited Statement of Changes in Equity
for the six month period to 30th September, 2013
Share | ||||
Share | premium | Retained | Total | |
capital | account | earnings | Equity | |
£ | £ | £ | £ | |
(Loss) for the six month period | - | - | (62,631) | (62,631) |
Funds raised | 405,000 | 3,645,000 | - | 4,050,000 |
Issue expenses | - | (360,060) | - | (360,060) |
At 30th September, 2013 | 405,000 | 3,284,940 | (62,631) | 3,627,309 |
Unaudited Statement of Financial Position
as at 30th September 2013
£ As at 30 September 2013 | ||
ASSETS | ||
Current assets | ||
Cash and cash equivalents | 3,632,309 | |
3,632,309 | ||
TOTAL ASSETS | 3,632,309 | |
LIABILITIES | ||
Current liabilities | ||
Trade and other payables | 5,000 | |
NET CURRENT ASSETS | 3,627,309 | |
NET ASSETS | 3,627,309 | |
TOTAL EQUITY | ||
Called up share capital | 405,000 | |
Share premium account | 3,284,940 | |
Retained earnings | (62,631) | |
3,627,309 |
Unaudited Cash Flow Statement
for the six month period to
30th September 2013
6 months | ||
30 September 2013 | ||
£ | ||
Cash flows from operating activities | ||
Operating (loss) for the period | (62,631) | |
Increase in trade and other payables | 5,000 | |
Cash generated from operations | (57,631) | |
Income taxes received | - | |
Net cash used in operating activities | (57,631) | |
Cash flows from financing activities | ||
Proceeds from issue of share capital | 4,050,000 | |
Expenses of share issue | (360,060) | |
Net cash generated from financing activities | 3,689,940 | |
Net increase in cash and cash equivalents | 3,632,309 | |
Cash and cash equivalents at end of the period | 3,632,309 | |
Notes to the Interim Financial Statements
for the period to 30th September, 2013
1 Basis of preparation
The interim financial statements have been prepared in accordance with the AIM rules and on the basis of all International Financial Reporting Standards ("IFRS") as adopted by the European Union that are expected to be applicable to the Company's statutory accounts for the year ended 31st March 2014. The interim financial statements are unaudited and were approved by the Directors on 9 December 2013. The information set out herein is abbreviated and does not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006.
The Company has not applied IAS 34, Interim Financial Reporting, which is not mandatory for UK Groups, in the preparation of these interim financial statements.
The Company is a limited liability company incorporated and domiciled in England & Wales and whose shares are quoted on AIM, a market operated by The London Stock Exchange. The financial information of Healthcare Investment Opportunities plc is presented in Pounds Sterling (£), which is also the functional currency of the Company.
2 Loss per share
Basic loss per share, from continuing operations, is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year.
The calculations of earnings per share are based on the following losses and numbers of shares.
6 months to
30 September 2013
Loss after taxation (62,631)
Weighted average number of shares 40,500,000
Basic earnings per share (0.15)p
At 30th September, 2013 the Company had 40,500,000 Ordinary Shares of 1p in issue.
The loss for the period and the weighted average number of ordinary shares for calculating the diluted earnings per share for the six months ended 30 September 2013 are identical to those used for the basic earnings per share.
3 Interim results
These results were approved by the Board of Directors on 9 December 2013.