GLOBE CAPITAL LIMITED - Final Results PR Newswire

                                                                  17 June 2014

                            Globe Capital Limited
                      ("Globe Capital" or the "Company")

              Annual Results for the year ended 31 December 2013

Globe Capital has pleasure in announcing its Annual Results for year ended 31
December 2013.

Chairman's statement

I am pleased to report the final audited consolidated results for
the twelve months ended 31 December 2013 of Globe Capital Limited ("the
Company").

The Company name was changed to Globe Capital Limited on 31 May
2013.

Financial performance

The turnover for the year was £800 (2012 £391,665) and the loss was
£141,930 (2012: profit of £122,392). The loss per share was 0.60 pence (2012:
earnings per share of 3.33 pence).

At a General Meeting held on 31 May 2013, the shareholders approved
resolutions to restructure the Company as an Investment Company. The Company
raised £207,000 by way of an Open Offer.

At a General Meeting held on 8 November 2013, the Company raised £199,000 by
way of an Open Offer.

Review of operations

The Company continues to seek investment proposals. It is examining
a number of medium term opportunities but will not commit its funds unless the
investee business is already profitable. The continuing growth of the Chinese
consumer market is expected to create potential applicants over the coming
months.

Corporate governance

The Company runs both Audit and Remuneration Committees and holds
monthly board meetings. It places great emphasis on ensuring a prudent cash
position at all times. The Directors believe that because of the low
overheads, the Company is not currently at risk of failing as a going concern.

The Company's shares are traded on both the ISDX Growth Market and the GXG
Main Quote Market.

Board changes

During the year under review, three directors, Nicholas Littlewood,
Jack Law and Stanley Tse, left the Company. I would like to thank them all for
their support during a period of significant change.

We have welcomed David Hirst and Daemon Wong. Their experience and
local knowledge is proving of great value to the business.

Future prospects

Your directors are seeking longer term growth investment
opportunities in order to create shareholder value. There are improvements in
the global economic outlook and so we are hopeful that we will be able to
report increased progress in the coming months.

Tony Drury
Chairman
17 June 2014



Globe Capital Limited (Formerly known as Ford Eagle Group Limited)

Consolidated statement of profit or loss and other comprehensive income

For the year ended 31 December 2013

                                                       2013       2012
                                                        GBP        GBP

Turnover                                                800    391,665

Other income                                              2     16,758

Gain on disposal of subsidiaries                    221,637          -

Fair value (loss)/gain of financial
instruments at fair value
through profit or loss                            (142,200)    104,800

Administrative expenses                           (213,369)  (375,329)

Finance costs                                       (8,800)   (13,613)


(Loss)/profit before income tax                   (141,930)    124,281

Income tax
                                                -          -

(Loss)/profit for the year                        (141,930)    124,281


Other comprehensive (expense)/income, net of
income tax

Items that will not be reclassified to profit
or loss

- Release of foreign currency translation
reserve upon disposal of foreign operations         (3,359)          -


Items may be subsequently reclassified to
profit or loss

- Exchange differences on translating foreign         1,270    (1,889)
operations


Other comprehensive expense, net of income tax      (2,089)    (1,889)


Total comprehensive (loss)/income for the year    (144,019)    122,392

                                                      Pence      Pence

Basic and diluted (loss)/earnings per share           (0.60 )     3.33



Globe Capital Limited (Formerly known as Ford Eagle Group Limited)

Consolidated statement of financial position:

As at 31 December 2013

                                                       2013       2012
                                                        GBP        GBP
Non-current assets

Property, plant and equipment                        50,676          -

Available-for-sale financial assets                       -     36,331

                                                     50,676     36,331

Current assets

Financial assets at fair value through profit or loss     -    424,800

Trade and other receivables                           1,625      3,578

Cash and cash equivalents                           199,148     80,341

                                                    200,773    508,719


Current liabilities

Financial liabilities at fair value through               -    106,200
profit or loss

Other payables                                       22,417      7,558

Unsecured loan                                            -     39,900

                                                     22,417    355,061


Net current assets                                  178,356    391,392


Total assets less current liabilities               236,232    427,723

Non-current liabilities

Unsecured loan                                            -     79,800

Loans from related parties                                -    344,908

                                                          -    424,708


Net assets/(liabilities)                            229,032   (33,316)


Capital and reserves

Share capital                                       626,966    414,660

Share premium and reserves                        (397,934)  (447,976)

Shareholders' funds/(capital deficiency)            229,032   (33,316)



Globe Capital Limited (Formerly known as Ford Eagle Group Limited)

Consolidated statement of changes in equity

For the year ended 31 December 2013

                                                                Foreign
                              Share    Share  Accumulated      currency
                            capital  premium       losses   translation      Total
                                GBP      GBP          GBP           GBP        GBP

As at 1 January 2011        320,550  147,393    (768,794)         3,978  (296,873)

Issue of shares              94,110   47,055            -             -    141,165

Comprehensive income

Profit for the year               -        -      124,281             -    124,281

Other comprehensive expense

Exchange differences on

translating foreign

operations                        -        -            -       (1,889)    (1,889)

Total comprehensive income        -        -      124,281       (1,889)    122,392
for the year

As at 31 December 2012      414,660  194,448    (644,513)         2,089   (33,316)

Issue of shares             212,306  194,061            -             -    406,367

Comprehensive income

Loss for the year                 -        -    (141,930)             -  (141,930)

Other comprehensive
income/(expense)

Exchange differences on

translating foreign operations    -        -            -         1,270      1,270

Release of foreign currency

translation reserve upon

disposal of foreign operations    -        -            -       (3,359)    (3,359)

Total comprehensive loss          -        -    (141,930)       (2,089)  (144,019)
for the year

As at 31 December 2013      626,966  388,509    (786,443)             -    229,032



Globe Capital Limited (Formerly known as Ford Eagle Group Limited)

Consolidated statement of cash flows

For the year ended 31 December 2013

                                                        2013       2012
                                                         GBP        GBP
Cash flows from operating activities

(Loss)/profit before income tax                    (141,930)    124,281

Adjustments for :-

Bank interest income                                     (2)       (33)

Gain on disposal of subsidiaries                   (221,637)          -

Depreciation                                          12,200          -

Loss on disposal of property, plant and equipment          -     18,757

Impairment of available-for-sale financial assets          -     47,834

Service income received in form of financial assets        -  (320,000)

Provision of staff costs recorded as financial             -    106,200
liabilities

Fair value loss/(gain) of financial

instruments at fair value
through profit or loss                               142,200  (104,800)

Waiver of accrued charges recorded as sundry income        -   (16,200)

Staff costs satisfied by issue of shares                   -     42,000

Interest on unsecured loans                            8,800     12,502


Operating loss before working capital changes      (200,369)   (89,459)

Changes in working capital :-

Trade and other receivables                          (1,694)      1,104

Other payables                                       44,441    (20,438)

Accrued charges satisfied by issue of shares               -     15,000


Net cash used in operating activities              (157,622)   (93,793)

Cash flows from investing activities

Disposal of subsidiaries                            (93,302)          -

Bank interest received                                     2         33

Payment for purchase of property, plant and         (62,876)          -
equipment


Net cash (used in)/generated from investing        (156,176)         33
activities

Cash flows from financing activities

Proceeds from issuance of shares                     406,367          -

Proceeds from unsecured loans                         80,300          -

(Repayment of)/proceed from loans from related      (46,562)     39,465
parties

Advance from other payables                                -    138,852

Repayment of other payables                                -   (19,152)

Interest paid                                        (8,800)   (12,502)


Net cash generated from financing activities         431,305    146,663


Net increase in cash and cash equivalents            117,507     52,903

Cash and cash equivalents at beginning of the year    80,341     29,259

Effect of foreign exchange rates, net                  1,300    (1,821)


Cash and cash equivalents at end of the year         199,148     80,341



The directors of Globe Capital Limited accept responsibility for this
announcement.

For further information:

Globe Capital Limited
Tony Drury, Non-Executive Chairman
+ 44 (0)79737 37284 (UK)

Alexander David Securities Limited - Corporate Adviser
David Scott
+44 (0)20 7448 9820