RNS Number : 8343I
Caplay PLC
25 November 2008
For immediate release
25 November 2008
Caplay Plc
("Caplay" or the "Company")
Audited Results for the Year Ended 31 May 2008
I am pleased to announce the audited results for the year ended 31 May 2008. As previously highlighted, the Board is pursuing a dual
strategy of identifying opportunities to increase shareholder value while also minimising costs.
The loss for the year amounted to �278,153. Of this loss, �114,493 relates to a reduction in value of the Company's investment in
Private Trading Systems Plc (formerly Private Treaty Markets Inc) ("PTS") and �141,937 relates to the costs incurred to date on the
investment in Textic Limited. As announced on 14 June 2007, the listing of PTS's shares was moved from the Nasdaq pink sheets' to the PLUS
market in the UK. PTS shares are currently suspended on PLUS awaiting the publication of its final results.
As at 31 October 2008, the Company's cash balances amounted to �506,000.
Following the year end, on 18 June 2008 Caplay announced that it had made a loan of �200,000 to Textic Limited ("Textic"), a computer
software company that specialises in the development, marketing and selling of "text-to-speech" technology for web and mobile phone use. In
addition to the loan, the shareholders of Textic granted Caplay an option to acquire the entire issued capital of Textic.
Textic, which was established in October 2004, is a computer software company that specialises in the development, marketing and selling
of advanced software that, through "text-to-speech" conversion, enables audio-based accessibility to the internet and mobile content.
Since making the loan, Textic has traded in line with the Board's expectations. In addition, on 22 October 2008 Textic announced the
first closing of a private third party equity funding round to raise �250,000. The fundraising was oversubscribed and Textic received
commitments totalling �286,000, of which �271,000 has now been received.
The Board remains hopeful that Textic will prove an attractive longer term investment for Caplay, however, until a final decision is
made on Textic, we will continue to look at other investment opportunities. In that regard, the recent turbulent economic and financial
climate is creating an improved environment to structure attractive deals for investment companies and the Board will continue to seek out
opportunities which meet the Company's investment criteria.
The Company is classified as an investing company under the AIM rules and accordingly, must either substantially implement its investing
strategy or else complete a reverse takeover on or before 31 March 2009, or otherwise its shares will be suspended from trading on AIM.
Anthony Fabrizi
CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 MAY 2008
2008 2007
� �
Administrative expenses (206,076) (168,735)
Other losses (114,493) (2,433,502)
******* *******
Operating loss - Continuing operations (320,569) (2,602,237)
Finance income 42,485 41,094
Finance costs (69) (39)
******* *******
Loss before taxation - (278,153) (2,561,182)
Continuing operations
Income tax expense - -
******* *******
Loss for the year attributable (278,153) (2,561,182)
to shareholders
***** ******
Loss per share - basic and diluted (0.10p) (0.91p)
***** ******
STATEMENT OF CHANGES IN SHAREHOLDER EQUITY
FOR THE YEAR ENDED 31 MAY 2008
Share capital Share premium Profit and loss account Total equity
account
The Group � � � �
At 1 June 2006 6,800,000 6,112,612 (9,289,080) 3,623,532
Loss for the year - - (2,561,182) (2,561,182)
******** ******** ******** ********
At 31 May 2007 6,800,000 6,112,612 (11,850,262) 1,062,350
Loss for the year - - (278,153) (242,903)
******** ******** ******** ********
At 31 May 2008 6,800,000 6,112,612 (12,128,415) 819,447
***** ***** ****** ******
CONSOLIDATED BALANCE SHEET
AS AT 31 MAY 2008
2008 2007
� � � �
ASSETS
Non current assets
Property, plant and equipment 1 594
Investments - 6,057
******** ********
1 6,651
Current assets
Trade and other receivables 13,960 16,132
Other financial assets at fair value through profit or loss 162,652 271,088
Cash and cash equivalents 742,288 846,658
******** ********
918,900 1,133,878
******** ********
Total assets 918,901 1,140,529
LIABILITIES
Current liabilities
Trade and other payables (134,704) (78,179)
******** ********
Total assets less current liabilities 784,197 1,062,350
******** *******
EQUITY
Called up share capital 6,800,000 6,800,000
Share premium account 6,112,612 6,112,612
Profit and loss account (12,128,415) (11,850,262)
******** ********
Total equity 784,197 1,062,350
******** *******
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2008
31 May 31 May
2008 2007
� � � �
Cashflows from operating
activities
Operating loss - Continuing operations (206,076) (168,735)
Depreciation of property, plant and 593 1,143
equipment
Decrease in trade and other receivables 2,172 79,971
Increase in trade and other payables 56,525 16,665
******* *******
Cash used in operations (146,786) (70,956)
Returns on investments and
servicing of finance
Interest received 42,485 41,094
Interest paid (69) (39)
******* *******
42,416 41,055
******* *******
Decrease in cash, cash (104,370) (29,901)
equivalents and bank overdraft -
continuing operations
Cash, cash equivalents and bank
overdraft - at beginning of year 846,658 876,559
******* *******
Cash, cash equivalents and bank
overdraft - at end of year 742,288 846,658
***** *****
.
Notes to the preliminary announcement
1 The results for the year ended 31 May 2008 have been prepared in accordance with International Financial Reporting Standards
("IFRS"), International Financial Reporting Interpretations Committee ("IFRIC") interpretations as adopted by the European Union and with
those parts of the Companies Act 1985 applicable to companies reporting under IFRS.
2 The financial information set out above does not constitute full accounts within the meaning of Section 240 of the Companies Act
1985 ('the Act'). Full accounts for the Group for the year, which received an unqualified auditors' report within the meaning of Section 235
of the Act and which will not contain a statement under Section 237 (2) or (3) of the Act, are being posted to shareholders today and will
be delivered to Companies House in due course.
3 The directors of the Company do not propose the payment of a dividend.
4 Earnings per ordinary share
The earnings and number of shares used in the calculation of earnings per ordinary share are set out below:
2008 2007
Basic:
Loss for the financial year �278,153 �2,561,182
Weighted average number of shares
280,000,000 280,000,000
Loss per share 0.10p 0.91p
***** *****
There was no dilutive effect from the warrants outstanding during the year.
5 Copies of this announcement and the Annual Report and Accounts are available from the Company Secretary at 25 Manchester Square,
London W1U 3PY and from Caplay's website, www.caplay-plc.co.uk.
6 For further information please contact:
Enquires:
Caplay PLC +44 20 7486 8985
Tony Fabrizi, Chairman
Nominated Advisor + 44 20 7628 3396
Michael Cornish, Beaumont Cornish Limited
This information is provided by RNS
The company news service from the London Stock Exchange
END
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