Interim Results to
The past six months has continued to be a period in which there has been continued momentum. There have been a number of positive aspects during the period including the performance of All Star and investee company, NQ Minerals Plc (“NQ”).
Following on from previous years, the Board has continued to be alert to potential suitable transactions for the Company that would either alter or transform the current position of the Company. With respect to our investee company, NQ Minerals Plc in which All Star still holds its position, there has been various announcements that have been covered in the Company’s quarterly updates released on
Since the updates released by All Star, NQ have released various RNS announcements in relation to the
Shareholders and the market in general will have noted that there have not been any further quarterly updates by All Star since
There were no equity issuances by the Company during the period under review.
The Board is pleased with the continued progress over the past six months including recording a profit for the period. The Company still maintains a 5,519,545 shareholding in NQ at the end of the period, which has proven to be a valuable asset.
As previously stated, All Star firmly intends to leverage this shareholding to refinance its balance sheet and cash position in due course.
The Board awaits further developments with NQ including its keenly awaited move onto the ’s AIM market and first production from
All Stars’ continued strategy is to review potential opportunities to ensure that a suitable transaction is secured to complete the transition of the Company.
The financial results for the period from
The basic profit per share was 0.006p and is a reversal on the same period last year.
The Company is carefully managing its working capital position and may raise capital in future.
The Company’s current assets of £588,554 is roughly the same as last year. The Company’s net asset value is dependent on the future performance of NQ, until such time the Company either disposes of its interest in NQ or undertakes a transaction.
The overall performance during the period further rewards the confidence and belief in the prospects of All Star and the Company looks forward to making further announcements in due course.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
SIX MONTHS ENDED
Unaudited Audited Unaudited 6 month period ended year ended 6 month period ended 30 June 2018 31 December 2017 30 June 2017 GBP GBP GBP Revenue - - - Administrative (51,943) (149,026) (70,457) expenses Finance costs (13,000) (26,000) (13,000) Fair value 137,989 - - movement: Available for sale asset PROFIT/(LOSS) 73,046 (175,026) (83,457) BEFORE TAX Income tax expense - - - PROFIT/(LOSS) FOR 73,046 (175,026) (83,457) THE PERIOD/YEAR Attributable to: Equity holder of 73,046 (175,026) (83,457) the parent PROFIT/(LOSS) PER SHARE Basic & diluted 0.006 (0.02) (
0.01) (penceper share)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unaudited Audited Unaudited at 30 June 2018 At 31 December 2017 At 30 June 2017 GBP GBP GBP CURRENT ASSETS Trade and other - - - receivables Cash and cash equivalents 9,001 39,086 18,738 Available for sale 579,553 441,564 579,552 financial asset 588,554 480,650 598,290 TOTAL ASSETS 588,554 480,650 598,290 EQUITY PLUS NON-CONTROLLING INTEREST ISSUED SHARE CAPITAL AND RESERVES Share capital 428,433 428,433 415,769 Share premium 1,773,610 1,773,610 1,681,774 Reserves 748,050 748,050 886,038 Retained profits (2,819,948) (2,892,994) (2,801,425) Foreign exchange - - - SUBSCRIBED CAPITAL 130,145 57,099 182,156 TOTAL EQUITY 130,145 57,099 182,156 CURRENT LIABILITIES Trade and other payables 458,409 423,551 416,134 TOTAL EQUITY AND 588,554 480,650 598,290 LIABILITIES
1. The financial information for both the six months ended
2. Basic profit/(loss) per share has been calculated using the weighted average number of shares of 1,130,474,743 (31.12.17: 1,061,759,149: ; 30.6.17: 819,645,074). The weighted average number of shares including dilutive instruments does not affect the diluted earnings per share calculation.
3. The Directors of the issuer accept full responsibility for this announcement.