Announcements List

Name	Date	Description
Name	Date	Description
DJ Result Of Gm	08/08/2018	TIDMWENP 8 August 2018 GB00B2334P26 Welney Plc (“Welney” or the “Company”) Result of GM The resolutions to elect Mark Jackson and Mark Chapman as directors of the Company were voted against by the shareholders. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976… Read More TIDMWENP 8 August 2018 GB00B2334P26 Welney Plc ("Welney" or the "Company") Result of GM The resolutions to elect Mark Jackson and Mark Chapman as directors of the Company were voted against by the shareholders. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976 664813 NEX EXCHANGE CORPORATE ADVISER: Alexander David Securities Limited David Scott -- Corporate Finance James Dewhurst -- Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA Read Less
Press Release: Notice of General Meeting	16/07/2018	16 July 2018 GB00B2334P26 Welney Plc (“Welney” or the “Company”) Notice of General Meeting The Company is pleased to announce that a circular containing a notice of General Meeting has been sent to shareholders. The General Meeting will consider resolution to vote on the election of Mark Jackson and Mark Chapman as directors of the… Read More 16 July 2018 GB00B2334P26 Welney Plc ("Welney" or the "Company") Notice of General Meeting The Company is pleased to announce that a circular containing a notice of General Meeting has been sent to shareholders. The General Meeting will consider resolution to vote on the election of Mark Jackson and Mark Chapman as directors of the Company. The notice of General Meeting will be available on the Company's website at www.welneyplc.co.uk. The General Meeting will take place at 10:30 a.m. on 8 August 2018, at The Barn, Tednambury Farm, Tednmabury, Spellbrook, Herts CM23 4BD. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976 664813 NEX EXCHANGE CORPORATE ADVISER: Alexander David Securities Limited David Scott -- Corporate Finance James Dewhurst -- Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA Read Less
DJ Interim Results For The Six Months Period To 31 December 2017	29/03/2018	TIDMWENP 31(st) March 2018 Welney Plc (“Welney” or the “Company”) Interim Results for the six months period to 31 December 2017 Chairman’s Statement Welney Plc is pleased to announce its unaudited interim results for the 6 months period to 31 December 2017. Operational costs for the period amounted to GBP37k for the 6 months to… Read More TIDMWENP 31(st) March 2018 Welney Plc ("Welney" or the "Company") Interim Results for the six months period to 31 December 2017 Chairman's Statement Welney Plc is pleased to announce its unaudited interim results for the 6 months period to 31 December 2017. Operational costs for the period amounted to GBP37k for the 6 months to December 2017 compared to GBP36k for the 6 months to December 2016 and continue to keep costs to a minimum whilst it continues to look for investment opportunities. The Board continues to review a number potential acquisitions and proposals which is reliant on new investment being achieved by virtue of equity or loan capital. The company continues to be supported by loans arranged by the company's directors. Further announcements will be made in due course. Darren Edmonston Chairman Welney Plc Unaudited Profit and Loss Account Six months ended 31 December 2017 6 months ended 31(st) 6 months ended 31(st) Dec 2017 Dec 2016 GBP '000 GBP '000 Revenue - - Other Income - - Gross Profit - - Administrative Expenses (32,394) (30,556) Operating (Loss) (32,394) (30,556) Interest payable (4,724) (5,830) Profit / (Loss) on ordinary activities (37,118) (36,386) Welney Plc Balance Sheet as at 31 December 2017 6 months ended 31(st) Dec 6 months ended 31(st) 2017 Dec 2016 GBP '000 GBP '000 Current assets Trade and other receivables - - Debtors 11,346 16,950 Cash and cash equivalents - - Investments 1,567 1,567 Total Assets 12,913 18,517 Current Liabilities Trade and other payables (37,455) (16,343) Net Current Assets (24,542) 2,174 Long term Liabilities (209,250) (159,585) Net (Liabilities) (233,792) (157,411) Shareholders' Equity Share Capital 1,545,511 1,545,511 Share Premium Reserve 1,562,336 1,562,336 Loan note Reserve 10,714 10,714 Share option Reserve - 132,240 Reserves (3,352,353) (3,408,122) Shareholders' deficit (233,792) (157,411) The financial information set out above has not been reviewed or audited by the company's auditors. The directors of Welney Plc accept responsibility for this announcement. For further information: Welney Plc Darren Edmonston +44 (0) 1279 635511 CORPORATE ADVISER AND CONTACT DETAILS: Alexander David Securities Limited David Scott Telephone: +44 (0) 20 7448 9820 49 Queen Victoria Street EC4N 4SA This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Home Read Less
DJ Audited Annual Results For The Year Ended 30 June 2017	30/11/2017	TIDMWENP 30th November 2017 Welney Plc (“Welney” or the “Company”) Audited Annual Results for the year ended 30 June 2017 Welney Plc Plc (NEX: WENP), are delighted to report its audited annual results for the twelve months ended 30 June 2017. Chairman’s statement The Board is pleased to present the results for Welney plc for… Read More TIDMWENP 30th November 2017 Welney Plc ("Welney" or the "Company") Audited Annual Results for the year ended 30 June 2017 Welney Plc Plc (NEX: WENP), are delighted to report its audited annual results for the twelve months ended 30 June 2017. Chairman's statement The Board is pleased to present the results for Welney plc for the year ended 30 June 2017. During the year I have looked to keep the company's operating costs to a minimum whilst I continue to review several different proposals to take the Company forward, which at this stage none of which have been suitable. There are still a couple of proposals being considered and I have been involved in a number of discussions in enabling the Company to raise additional funding, all of which continue to be ongoing. Separately the board are currently in discussions with several other parties both for investment into and out of the company. The Company's investment in GACR the Nasdaq listed Company continues to perform poorly and it continues to be very illiquid. The Company continues to investigate proposals for our subsidiary company Metro Environmental Ltd and will pursue this strategy once further funding is forthcoming. Semsa International FZC ("Semsa"), the loan note holders, continues to support the Company by way of the loan note within the financial statements. The directors are now pleased to report that the loan note holders "Semsa" have agreed to not call in the loans outstanding for at least another 12 months. In addition, the company has confirmation of further support in relation to the future ongoing costs of the company from its shareholder's. I hope to be able to report further developments to shareholders at the AGM, in the meantime the directors will keep costs to a minimum. Performance Overview The financial year to 30 June 2017 has continued to be challenging with the board continuing to review the ability to raise additional investment and as a consequence this year continues to be hampered by cash constraints. Financial Results The Company's loss for the year from continuing and total operations was GBP75,649 (2016: GBP75,588). The directors do not recommend the payment of a dividend (2016:nil). Significant Accounting Policies Going concern The Group meets its day to day financing through its cash reserves, equity or debt financing in the form of shareholders' loans and new share issues. As at 30 June 2017 the Company has net current liabilities of GBP24,515, a deficit in shareholders funds of GBP196,674 and no cash at bank. Since the year end a further GBP11,000 has been received via loans to support the ongoing costs of the company. The directors have prepared cash flow forecasts for the period to 30 June 2018 which assume no unnecessary costs or expenditure. On the basis of these forecasts, the fact that the loan note holders have agreed in writing to not call in the loans for at least the next 12 months from the date of this report, and that the directors have agreed not to take any salary or fees until such time as there is sufficient cash reserves in the business, the Company is expected to continue to operate within its available financial facilities for at least the next 12 months. The going concern basis is dependent upon the Company meeting its forecasts for 2017/18. These forecasts show that further finance will need to be raised for the Company to continue, which may not be forthcoming. Whilst the directors remain confident that the Company will continue as a going concern, this is dependent on their ability to secure the necessary funding to take the Company forward and there can be no certainty in this respect. Nevertheless, after making due and careful enquires and considering all uncertainties, the Directors believe the Company will continue in operational existence for the foreseeable future. For this reason the Directors continue to adopt the going concern basis in preparing the annual report and financial statements. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate. Please review the Company's annual report for full details. Darren Edmonston Chairman Welney Plc 30 November 2017 The directors of Welney Plc accept responsibility for this announcement. COMPANY CONTACT DETAILS: Darren Edmonston Tel: + 44 1279 635511 NEX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Institutional Sales Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA WELNEY PLC STATEMENT OF PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 2017 2017 2016 GBP GBP Administrative expenses (66,339) (65,729) Operating loss (66,339) (65,729) Interest payable and similar charges (9,310) (9,859) Loss on ordinary activities before taxation (75,649) (75,588) Tax on loss on ordinary activities - - Loss for the year (75,649) (75,588) Basic and diluted loss per share (0.005)p (0.005)p WELNEY PLC STATEMENT OF BALANCE SHEET FOR THE YEAR ENDED 30 JUNE 2017 2017 2016 GBP GBP GBP GBP Fixed assets Investments 1,567 1,567 Current assets Debtors 14,848 15,094 Cash at bank and in hand - 52 14,848 15,146 Creditors: amounts falling due within one year (39,363) (37,738) Net current liabilities lliabilities/(assets) (24,515) (22,592) Total assets less current liabilities (22,948) (21,025) Creditors: amounts falling due after more than one year (173,726) (100,000) (196,674) (121,025) Capital and reserves Called up share capital 1,545,511 1,545,511 Share premium account 1,562,336 1,562,336 Loan note holders reserve 10,714 10,714 Share option reserve - 132,240 Profit and loss account (3,315,235) (3,371,826) Shareholders' funds (196,674) (121,025) WELNEY PLC STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2017 Share capital 2017 2016 GBP GBP Allotted, called up and fully paid 1,545,511,000 Ordinary shares of 0.1p each 1,545,511 1,545,511 Statement of movements on reserves Share Profit premium Other reserves and loss account (see below) account GBP GBP GBP Balance at 1 July 2016 1,562,336 142,954 (3,371,826) Loss for the year - - (75,649) Reclassification of share option reserve to 132,240 to the retained earnings Balance at 30 June 2017 1,562,336 142,954 (3,315,235) WELNEY PLC STATEMENT OF CASH FLOW FOR THE YEAR ENDED 30 JUNE 2017 2017 2016 GBP GBP GBP GBP Cash flows from operating activities (18,952) (2,980) Financial activities Loans received from other related parties relatedarties 18,900 - Net cash generated from financing activities 18,900 - Net decrease in cash and cash equivalents (52) (2,980) Cash and cash equivalents at beginning ofo 52 3,032 - 52 Cash and cash equivalents at end of year Welney Plc This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Read Less
DJ Change Of Registered Address	14/06/2017	TIDMWENP 14 June 2017 GB00B2334P26 Welney Plc (“Welney” or the “Company”) Change of Registered Address Welney Plc announces that the Company has changed its registered address to The Barn, Tednambury Farm, Tednambury, Spellbrook, Herts CM23 4BD with immediate effect. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren… Read More TIDMWENP 14 June 2017 GB00B2334P26 Welney Plc ("Welney" or the "Company") Change of Registered Address Welney Plc announces that the Company has changed its registered address to The Barn, Tednambury Farm, Tednambury, Spellbrook, Herts CM23 4BD with immediate effect. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976 664813 NEX EXCHANGE CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Read Less
DJ Interim Results For The Six Months Period To 31 December 2016	31/03/2017	TIDMWENP 31(st) March 2017 Welney Plc (“Welney” or the “Company”) Interim Results for the six months period to 31 December 2016 Chairman’s Statement Welney Plc is pleased to announce its unaudited interim results for the 6 months period to 31 December 2016. Operational costs for the period amounted to GBP36k for the 6 months to… Read More TIDMWENP 31(st) March 2017 Welney Plc ("Welney" or the "Company") Interim Results for the six months period to 31 December 2016 Chairman's Statement Welney Plc is pleased to announce its unaudited interim results for the 6 months period to 31 December 2016. Operational costs for the period amounted to GBP36k for the 6 months to December 2016 compared to GBP22k for the 6 months to December 2015. The Company continues to keep costs to a minimum whilst it continues to look for investment opportunities. The Board continues to review a number potential acquisitions and proposals which is reliant on new investment being achieved by virtue of equity or loan capital. The company continues to be supported by loans arranged by the company's directors. Further announcements will be made in due course. Darren Edmonston Chairman Welney Plc Unaudited Profit and Loss Account Six months ended 31 December 2016 6 months ended 31(st) 6 months ended 31(st) Dec 2016 Dec 2015 GBP '000 GBP '000 Revenue - - Other Income - - Gross Profit - - Administrative Expenses (30,556) (21,709) Operating (Loss) (30,556) (21,709) Interest payable (5,830) (5,526) Profit / (Loss) on ordinary activities (36,386) (27,235) Welney Plc Balance Sheet as at 31 December 2016 6 months ended 31(st) Dec 6 months ended 31(st) 2016 Dec 2015 GBP '000 GBP '000 Current assets Trade and other receivables - 71,700 Debtors 16,950 - Cash and cash equivalents - 59 Investments 1,567 2,675 Total Assets 18,517 74,434 Current Liabilities Trade and other payables (16,343) (51,439) Net Current Assets 2,174 22,995 Long term Liabilities (159,585) (95,397) Net (Liabilities) (157,411) (72,402) Shareholders' Equity Share Capital 1,545,511 1,545,511 Share Premium Reserve 1,562,336 1,562,336q Loan note Reserve 10,714 10,714 Share option Reserve 132,240 132,240 Reserves (3,408,212) (3,323,203) Shareholders' deficit (1574,411) (72,402) The financial information set out above has not been reviewed or audited by the company's auditors. The directors of Welney Plc accept responsibility for this announcement. For further information: Welney Plc Darren Edmonston +44 (0) 1279 635511 CORPORATE ADVISER AND CONTACT DETAILS: Alexander David Securities Limited David Scott Telephone: +44 (0) 20 7448 9820 49 Queen Victoria Street EC4N 4SA This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Read Less
DJ Results Of Gm And Agm	13/02/2017	TIDMWENP 13 February 2017 GB00B2334P26 Welney Plc (“Welney” or the “Company”) Results of GM and AGM AGM Welney is pleased to announce that at the Company’s Annual General Meeting (“AGM”) held today, all of the resolutions proposed, as set out in the AGM Notice, were duly passed. GM The resolution to elect Mark Jackson as… Read More TIDMWENP 13 February 2017 GB00B2334P26 Welney Plc ("Welney" or the "Company") Results of GM and AGM AGM Welney is pleased to announce that at the Company's Annual General Meeting ("AGM") held today, all of the resolutions proposed, as set out in the AGM Notice, were duly passed. GM The resolution to elect Mark Jackson as director was voted against by the shareholders. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976 664813 NEX EXCHANGE CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Read Less
DJ Notice Of Annual General Meeting	19/01/2017	TIDMWENP THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in any doubt as to what action you should take, you are recommended to seek your own financial advice from your stockbroker or other independent adviser authorised under the Financial Services and Markets Act 2000. If you have recently sold or transferred… Read More TIDMWENP THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in any doubt as to what action you should take, you are recommended to seek your own financial advice from your stockbroker or other independent adviser authorised under the Financial Services and Markets Act 2000. If you have recently sold or transferred all of your shares in Welney plc, please forward this document, together with the accompanying documents, as soon as possible either to the purchaser or transferee or to the person who arranged the sale or transfer so they can pass these documents to the person who now holds the shares. WELNEY PLC (Incorporated in England and Wales with Registered Number 05660908) Directors: Darren Edmonston (Chairman) Cameron Luck To the Shareholders of Welney PLC Dear Shareholder ANNUAL GENERAL MEETING - 11.00 a.m. on 13th February 2017 I am pleased to enclose the notice of the Company's Annual General Meeting, to be held at 11.00 a.m. on 13th February 2017. The ordinary business of the Annual General Meeting will be to receive and adopt the accounts of the Company to 30 June 2016, to re-appoint the auditors, and to re-elect directors. You will find set out at the end of this document a notice convening the AGM to be held at Manor of Groves, High Wych, Sawbridgeworth, Hertfordshire, CM21 0JU. . 1. ACTION TO BE TAKEN A Form of Proxy is enclosed, for use at the AGM. Whether or not you intend to be present at the AGM, you are asked to complete, sign and return the Form of Proxy to the Company's registrars, Share Registrars Ltd, The Courtyard, 17 West Street, Farnham, Surrey GU9 7DR, as soon as possible but in any event, so as to arrive no later than 11.00 a.m. on 9th February 2017. The completion and return of a Form of Proxy will not preclude you from attending the AGM and voting in person should you wish to do so. Accordingly, whether or not you intend to attend the AGM in person, you are urged to complete and return the Form of Proxy as soon as possible. 2. RECOMMENDATIONS The Directors consider that the resolutions to be proposed at the AGM are in the best interests of the Company and Shareholders as a whole. Accordingly, the Directors unanimously recommend Shareholders to vote in favour of the resolutions to be proposed at the AGM. Yours faithfully Darren Edmonston Chairman WELNEY PLC (Incorporated in England and Wales with Registered Number 05660908) Notice of Annual General Meeting Notice is hereby given that the Annual General Meeting ("Meeting") of Welney plc ("Company") will be held at the offices of Manor of Groves, High Wych, Sawbridgeworth, Hertfordshire, CM21 0JU on 13th February 2017. You will be asked to consider and vote on the resolutions below. Resolutions 1 to 3 will be proposed as ordinary resolutions. ORDINARY RESOLUTIONS 1. To receive and adopt the Annual Report and Accounts for the year ended 30 June 2016 together with the directors' report and auditors' report on those accounts. 2. To re-appoint Welbeck Associates as auditors of the Company to hold office until the conclusion of the next general meeting at which the accounts are laid before the members and to authorise the directors to fix their remuneration. 3. To re-appoint as a Director Cameron Luck, who retires in accordance with Article 106 of the Articles of Association of the Company. By Order of the Board Dated 18 January 2017 Notes: 1. To be entitled to attend and vote at the meeting (and for the purpose of the determination by the Company of the number of votes that may be cast), shareholders must be entered in the register of members of the Company at 11:00 a.m. on 9 February 2017 (or, in the event of any adjournment, at 11:00 a.m. on the day which is two days before the date fixed for the adjourned meeting). Changes to the register of members after the relevant deadline will be disregarded in determining the rights of any person to attend and vote at the meeting. 2. A member entitled to attend the meeting is entitled to appoint another person as his proxy to exercise all or any of his rights to attend and to speak and vote at the meeting. A member may appoint more than one proxy in relation to the meeting provided that each proxy is appointed to exercise the rights attached to a different share or shares held by the member. A proxy need not be a member of the Company. Appointing a proxy will not prevent a member from attending and voting at the meeting in person. 3. A form of proxy for use in relation to the meeting is enclosed. To be valid, the form of proxy and any power of attorney or other authority under which it is signed (or a notarially certified copy of such power or authority) must be deposited with the company secretary not less than 48 hours before the time appointed for the holding of the meeting or any adjourned meeting. 4. As at 4 January 2017 (being the latest practicable date prior to the publication of this notice), the Company's issued share capital consisted of 1,545,511,405 ordinary shares of 0.1p each. Each ordinary share carries the right to one vote at a general meeting of the Company and, therefore, the total number of voting rights in the Company was as at 4 January 2017. Proxy Form For use at the Annual General Meeting of the Company to be held at Manor of Groves, High Wych, Sawbridgeworth, Hertfordshire, CM21 0JU on 13th February 2017 at 11.00 a.m. Before completing this form, please read the explanatory notes below. I /We being a member of the Company appoint the Chairman of the meeting or (see note 4) as my/our proxy to attend, speak and vote on my/our behalf at the Annual General Meeting of the Company to be held at 11.00 am. on 13th February 2017 and at any adjournment of the meeting. I/We direct my/our proxy to vote on the following resolutions as I/we have indicated by marking the appropriate box with an 'X'. If no indication is given, my/our proxy will vote or abstain from voting at his or her discretion and I/we authorise my/our proxy to vote (or abstain from voting) as he or she thinks fit in relation to any other matter which is properly put before the meeting (including any motion to amend any resolution or to adjourn the Annual General Meeting). RESOLUTIONS For Against Vote withheld 1. To receive the Company's annual report and accounts for the 12-month period ending 31 December 2015 (ordinary resolution) 2. To reappoint Welbeck Associates as auditors to the Company (ordinary resolution) 3. To reappoint Cameron Luck as a director of the Company (ordinary resolution) PLEASE SIGN WHERE INDICATED AND THEN COMPLETE THE REQUESTED DETAILS BELOW IN BLOCK CAPITALS ......................... .............. Signature of shareholder or common seal/signature Date of duly authorised officer/attorney of corporate shareholder ...................... ..................... Print name of signatory Print name of shareholder where signed on behalf of a shareholder Notes to the proxy form 1. The full text of each resolution to be proposed at the Annual General Meeting is set out in the Notice of Annual General Meeting contained in the circular to shareholders of the Company dated 18 January 2017. Shareholders should read the resolutions set out in the Notice of Annual General Meeting together with the explanation of the resolutions set out in Part I of the Circular. 2. As a member of the Company you are entitled to appoint a proxy to exercise all or any of your rights to attend, speak and vote (on a show of hands and on a poll) at a general meeting of the Company. 3. Appointment of a proxy does not preclude you from attending the meeting and voting in person. 4. A proxy does not need to be a member of the Company but must attend the meeting to represent you. To appoint as your proxy a person other than the Chairman of the meeting, insert their full name in the box. If you sign and return this proxy form with no name inserted in the box, the Chairman of the meeting will be deemed to be your proxy. Where you appoint as your proxy someone other than the Chairman, you are responsible for ensuring that they attend the meeting and are aware of your voting intentions. 5. You may appoint more than one proxy provided each proxy is appointed to exercise rights attached to different shares. You may not appoint more than one proxy to exercise rights attached to any one share. 6. To direct your proxy how to vote on the resolutions mark the appropriate box with an 'X'. To abstain from voting on a resolution, select the relevant "Vote withheld" box. A vote withheld is not a vote in law, which means that the vote will not be counted in the calculation of votes for or against the resolution. If no voting indication is given, your proxy will vote or abstain from voting at his or her discretion. Your proxy will vote (or abstain from voting) as he or she thinks fit in relation to any other matter which is properly put before the meeting (including any motion to amend any resolution or to adjourn the Annual General Meeting). 7. To appoint a proxy using this form, the form must be: -- completed and signed; -- sent or delivered to, Share Registrars Limited, at Suite E, The Courtyard, 17 West Street, Farnham, Surrey GU9 7DR or by e-mail to proxies@shareregistrars.uk.com or fax: 01252 719232 and -- received by the Registrar no later than 11.00 a.m. on 9th February 2017. 8. In the case of a member which is a company, this proxy form must be executed under its common seal or signed on its behalf by an officer of the company or an attorney for the company. 9. Any power of attorney or any other authority under which this proxy form is signed (or a duly certified copy of such power or authority) must be included with the proxy form. 10. In the case of joint holders, where more than one of the joint holder's purports to appoint a proxy, only the appointment submitted by the most senior holder will be accepted. Seniority is determined by the order in which the names of the joint holders appear in the Company's register of members in respect of the joint holding (the first-named being the most senior). 11. If you submit more than one valid proxy appointment, the appointment received last before the latest time for the receipt of proxies will take precedence. 12. In order to revoke a proxy instruction you will need to inform the Company by sending a signed hard copy notice clearly stating your intention to revoke your proxy appointment to Share Registrars Limited, at The Courtyard, 17 West Street, Farnham, Surrey GU9 7DR. In the case of a member which is a company, the revocation notice must be executed under its common seal or signed on its behalf by an officer of the company or an attorney for the company. Any power of attorney or any other authority under which the revocation notice is signed (or a duly certified copy of such power or authority) must be included with the revocation notice. In either case, the revocation notice must be received by the Company no later than 11. 00 a.m. on 9th February 2017. If you attempt to revoke your proxy appointment but the revocation is received after the time specified, your proxy appointment will remain valid. This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Read Less
DJ Correction: Clarification Announcement On Notice Of General Meeting	19/01/2017	TIDMWENP This is a correction of the announcement from 09:55 19.01.2017 GMT. Reason for the correction: 19 January 2017 GB00B2334P26 Welney Plc (“Welney” or the “Company”) Clarification announcement on Notice of General Meeting The announcement released by Welney Plc on 16 January 2017, erroneously stated that the General Meeting would take place at 10:30 a.m…. Read More TIDMWENP This is a correction of the announcement from 09:55 19.01.2017 GMT. Reason for the correction: 19 January 2017 GB00B2334P26 Welney Plc ("Welney" or the "Company") Clarification announcement on Notice of General Meeting The announcement released by Welney Plc on 16 January 2017, erroneously stated that the General Meeting would take place at 10:30 a.m. on 8 February 2017. The Company would like to clarify that the announcement disclosed is as follows: The General Meeting will take place at 10:30 a.m. on 13 February 2017 at Manor of Groves Hotel, Golf & Country Club, High Wych, Sawbridgeworth, Hertfordshire, CM21 0JU. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976 664813 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Read Less
DJ Notice Of Gm	19/01/2017	TIDMWENP THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF SHAREHOLDERS. IF SHAREHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 IMMEDIATELY. If you have sold or otherwise transferred all of your ordinary shares of… Read More TIDMWENP THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF SHAREHOLDERS. IF SHAREHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 IMMEDIATELY. If you have sold or otherwise transferred all of your ordinary shares of 0.1p each in Welney PLC ("the Company"), please send this document, together with the accompanying Form of Proxy to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee. If you have sold only part of your holding of ordinary shares of 0.1p of Welney PLC, please contact your stockbroker, bank or other agent through whom the sale was effected immediately. WELNEY PLC (THE "COMPANY") (Incorporated in England and Wales under the Companies Act 2006 with Registered Number 05840813) NOTICE OF GENERAL MEETING NOTICE IS HEREBY GIVEN that a general meeting of the Company will be held at Manor of Groves Hotel, Golf & Country Club, High Wych, Sawbridgeworth, Hertfordshire, CM21 0JU on 13 February 2017 at 10:30 a.m for the purpose of considering and, if thought fit, passing the following resolution which will be proposed as an ordinary resolution: ORDINARY BUSINESS 1. To elect Mark Jackson as a director of the Company. Date: 18th January 2017 By Order of the Board Registered Office: ........... 2nd Flr, Cambridge House, Director Cambridge Road, Harlow, CM20 2EQ, United Kingdom APPENDIX DIRECTOR BIOGRAPHY Mark Jackson, aged 53 Mark Jackson has been a chartered accountant for over 20 years, and now runs his own audit and accountancy practice in Hull, advising clients on business and taxation issues. He is a director of Hellenic Capital PLC, Ventura Finance Limited, Quetzal Securities Limited, Quetzal Capital Limited, Humberside Accountancy Courses Limited and Small Company Reporting Limited. He was previously a director of Lombard Capital PLC. Notes: 1. To be entitled to attend and vote at the meeting (and for the purpose of the determination by the Company of the number of votes that may be cast), shareholders must be entered in the register of members of the Company at 10:30 a.m. on 9 February 2017 (or, in the event of any adjournment, at 10:30 a.m. on the day which is two days before the date fixed for the adjourned meeting). Changes to the register of members after the relevant deadline will be disregarded in determining the rights of any person to attend and vote at the meeting. 2. A member entitled to attend the meeting is entitled to appoint another person as his proxy to exercise all or any of his rights to attend and to speak and vote at the meeting. A member may appoint more than one proxy in relation to the meeting provided that each proxy is appointed to exercise the rights attached to a different share or shares held by the member. A proxy need not be a member of the Company. Appointing a proxy will not prevent a member from attending and voting at the meeting in person. 3. A form of proxy for use in relation to the meeting is enclosed. To be valid, the form of proxy and any power of attorney or other authority under which it is signed (or a notarially certified copy of such power or authority) must be deposited with the company secretary not less than 48 hours before the time appointed for the holding of the meeting or any adjourned meeting. 4. As at 4 January 2017 (being the latest practicable date prior to the publication of this notice), the Company's issued share capital consisted of 1,545,511,405 ordinary shares of 0.1p each. Each ordinary share carries the right to one vote at a general meeting of the Company and, therefore, the total number of voting rights in the Company was as at 4 January 2017. Explanatory notes to the Notice of General Meeting: Resolution 1 - Appointment of director Biographical details of Mark Jackson can be found in the Appendix to the Notice. FORM OF PROXY WELNEY PLC For use at the General Meeting to be held at Manor of Groves Hotel, Golf & Country Club, High Wych, Sawbridgeworth, Hertfordshire, CM21 0JU at 10:30 a.m. on 13 February 2017. I/We ..................................... (name in full in block capitals) of ....................................... (full postal address in block capitals) ......................................... being (a) member(s) of Welney Plc (the "Company") hereby appoint the chairman of the meeting (See note 3 below) ... ..................... as my/our proxy to vote for me/us on my/our behalf at the Annual General Meeting of the Company at 10:30 a.m. on 13 February 2017 and at any adjournment of the meeting. This form of proxy relates to the resolutions referred to below and to any other business transacted at the meeting. I/We instruct my/our proxy to vote as follows: Resolution For Against Abstain To elect Mark Jackson as Director of the Company Please indicate how you wish your proxy to vote by inserting "X" in the appropriate box. If no indication is given, your proxy will be deemed to have the authority to vote or abstain at his/her discretion on the resolution above and on any other business transacted at the meeting. Dated.............2017 Signature .................... NOTES 1. To be valid this form, together with any power of attorney or other written authority under which it is signed, or an office or notarially certified copy or a copy certified in accordance with the Powers of Attorney Act 1971 of such power or written authority must be completed, signed and deposited at Share Registrars offices, The Courtyard, 17 West Street, Farnham, Surrey, GU9 7DR, or sent by e-mail proxies@shareregistrars.uk.com or fax 01252 719232, by no later than 48 hours (not including non-working days) before the time appointed for the holding of the meeting or adjourned meeting. 2. A corporation must execute this form either under its common seal or under the hand of two directors or one director and the secretary or under the hand of an officer or attorney duly authorised in writing. 3. The appointment of the Chairman as proxy has been included for convenience. If you wish to appoint any other person as proxy delete the words "the chairman of the meeting" and add the name and address of the proxy appointed. A proxy need not be a member of the Company. If you complete the proxy form but do not delete the words "the chairman of the meeting" and you do not appoint a proxy, the chairman shall be entitled to vote as proxy. 4. Any alteration to this form must be initialled. 5. Returning the form of proxy will not prevent you from attending the meeting and voting in person. This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Read Less
DJ Welney Plc : Statement Re [insert appropriate text]	19/01/2017	TIDMWENP 19 January 2017 GB00B2334P26 Welney Plc (“Welney” or the “Company”) Clarification announcement on Notice of General Meeting The announcement released by Welney Plc on 16 January 2017, erroneously stated that the General Meeting would take place at 10:30 a.m. on 8 February 2017. The Company would like to clarify that the announcement disclosed is… Read More TIDMWENP 19 January 2017 GB00B2334P26 Welney Plc ("Welney" or the "Company") Clarification announcement on Notice of General Meeting The announcement released by Welney Plc on 16 January 2017, erroneously stated that the General Meeting would take place at 10:30 a.m. on 8 February 2017. The Company would like to clarify that the announcement disclosed is as follows: The General Meeting will take place at 10:30 a.m. on 13 February 2017 at Manor of Groves Hotel, Golf & Country Club, High Wych, Sawbridgeworth, Hertfordshire, CM21 0JU. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976 664813 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Read Less
DJ Notice Of General Meeting	16/01/2017	TIDMWENP 16 January 2017 GB00B2334P26 Welney Plc (“Welney” or the “Company”) Notice of General Meeting The Company is pleased to announce that a circular containing a notice of General Meeting will be sent to shareholders today. The General Meeting will consider resolution to vote on the election of Mark Jackson as director of the Company…. Read More TIDMWENP 16 January 2017 GB00B2334P26 Welney Plc ("Welney" or the "Company") Notice of General Meeting The Company is pleased to announce that a circular containing a notice of General Meeting will be sent to shareholders today. The General Meeting will consider resolution to vote on the election of Mark Jackson as director of the Company. The notice of General Meeting will be available on the Company's website at www.welneyplc.co.uk. The General Meeting will take place at 10:30 a.m. on 8 February 2017 at Manor of Groves Hotel, Golf & Country Club, High Wych, Sawbridgeworth, Hertfordshire, CM21 0JU. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976 664813 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire Read Less
DJ Welney plc Audited Annual Results for the year ended 30 June 2016	30/11/2016	TIDMWENP Audited Annual Results for the year ended 30 June 2016 30th November 2016 Welney Plc (“Welney” or the “Company”) Audited Annual Results for the year ended 30 June 2016 Welney Plc (ISDX: WENP), are delighted to report its audited annual results for the twelve months ended 30 June 2016. Chairman’s statement The Board is… Read More TIDMWENP Audited Annual Results for the year ended 30 June 2016 30th November 2016 Welney Plc ("Welney" or the "Company") Audited Annual Results for the year ended 30 June 2016 Welney Plc (ISDX: WENP), are delighted to report its audited annual results for the twelve months ended 30 June 2016. Chairman's statement The Board is pleased to present the results for Welney Plc for the year ended 30 June 2016. Since my appointment late April 2016, I have reviewed several different proposals to take the Company forward, which I am continuing to review and have been involved in a number of discussions in enabling the company to raise additional funding, all of which continue to be ongoing. The Company also appointed a new Corporate Advisor, namely Alexander David Securities, and I am working closely with them on a number of possible investments. Separately the board are currently in discussions with several other parties both for investment into and out of the Company. The Company's investment in GACR the Nasdaq listed company has performed badly and it is very illiquid despite the strength of the US dollar. The Directors are now pleased to report that loan note holders Semsa International FZC ("Semsa") have agreed to not call in the loans outstanding for at least another 12 months. I hope to be able to report further developments to shareholders at the AGM, in the meantime the directors will keep costs to a minimum. Performance Overview The financial year to 30 June 2016 has continued to be challenging with the board continuing to review the ability to raise additional investment and as a consequence this year continues to be hampered by cash constraints. Financial Results The Company's loss for the year from continuing and total operations was GBP75,588 (2015:GBP7,807). The directors do not recommend the payment of a dividend (2015:nil). Darren Edmonston Chairman Welney Plc 30 November 2016 The Independent Auditor's Report contained within the financial statements for the year ended 30 June 2016 referenced Emphasis of matter and referred to the following paragraph within Accounting Policies notes to the Financial Statements. Going concern The Company meets its day to day financing through its cash reserves, shareholders' loans and share issues. As at 30 June 2016 the Company has net current liabilities of GBP22,592 a deficit in shareholders' funds of GBP121,025 and cash at bank of only GBP52. It also incurred a loss of GBP75,588 (2015:GBP7,807). There has been no additional funding received since year end. The directors have prepared cash flow forecasts for the period to 30 June 2018 which assume no unnecessary costs or expenditure. On the basis of these forecasts, the fact that the loan note holders have agreed in writing to not call in the loans for at least the next 12 months from the date of this report, and that the Directors have agreed not to draw any salary or fees until such time as the Company has sufficient cash resources, the Company is expected to continue to operate within its available financial facilities for at least the next 12 months. The going concern basis is dependent upon the Company meeting its forecasts for 2016/2017. These forecasts show that further finance will need to be raised for the Company to continue which may not be forthcoming. Whilst the directors remain confident that the Company will continue as a going concern, this is dependent on their ability to secure the necessary funding to take the Company forward and there can be no certainty in this respect. Nevertheless, after making due and careful enquires and considering all uncertainties, the Directors believe the company will continue in operational existence for the foreseeable future. For this reason the Directors continue to adopt the going concern basis in preparing the annual report and financial statements. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate. Please review the Company's Annual Report for full details. The directors of Welney Plc accept responsibility for this announcement. COMPANY CONTACT DETAILS: Darren Edmonston Tel: + 44 1279 635511 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Institutional Sales Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA WELNEY PLC STATEMENT OF PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 2016 2016 2015 GBP GBP Administrative expenses (65,729) (56,952) Reversal of impairment of Investments - 50,000 ---------- ---------- Operating loss (65,729) (6,952) Interest payable and similar charges (9,859) (855) ---------- ---------- Loss on ordinary activities before taxation (75,588) (7,807) Tax on loss on ordinary activities - - ---------- ---------- Loss for the year (75,588) (7,807) ---------- ---------- ---------- ---------- Basic and diluted loss per share (0.004)p (0.001)p WELNEY PLC STATEMENT OF BALANCE SHEET FOR THE YEAR ENDED 30 JUNE 2016 2016 2015 GBP GBP GBP GBP Fixed assets Investments 1,567 2,675 Current assets Debtors 15,094 105,850 Cash at bank and in hand 52 3,032 ---------- ---------- 15,146 108,882 Creditors: amounts falling due within one year (37,738) (66,853) ---------- ---------- Net current liabilities/(assets) (22,592) 42,029 ---------- ---------- Total assets less current liabilities (21,025) 44,704 Creditors: amounts falling due after more than one year (100,000) (90,141) ---------- ---------- (121,025) (45,437) ---------- ---------- ---------- ---------- Capital and reserves Called up share capital 1,545,511 1,545,511 Share premium account 1,562,336 1,562,336 Loan note holders reserve 10,714 10,714 Share option reserve 132,240 132,240 Profit and loss account (3,371,826) (3,296,238) ---------------- ----------------- Shareholders' funds (121,025) (45,437) ---------------- ----------------- ---------------- ----------------- WELNEY PLC STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2016 Share capital 2016 2015 GBP GBP Allotted, called up and fully paid 1,545,511,000 Ordinary shares of 0.1p each 1,545,511 1,545,511 ------------ ------------ ------------ ------------ Statement of movements on reserves Share Other Profit premium reserves (MORE TO FOLLOW) Dow Jones Newswires November 30, 2016 13:19 ET (18:19 GMT) DJ Welney plc Audited Annual Results for the year -2- account and loss GBP GBP GBP Balance at 1 July 2015 1,562,336 142,954 (3,296,238) Loss for the year - - (75,588) ------------ ------------ ------------ Balance at 30 June 2016 1,562,336 142,954 (3,371,826) ------------ ------------ ------------ ------------ ------------ ------------ WELNEY PLC STATEMENT OF CASH FLOW FOR THE YEAR ENDED 30 JUNE 2016 2016 2015 Notes GBP GBP GBP GBP Net cash outflow from operating activities 18 (2,980) (147,141) Returns on investments and Servicing of finance Interest paid (9,859) - ---------- ---------- (9,859) - Financial investment Disposal of investment - 50,000 ---------- ---------- Net cash (outflow)/inflow for capital expenditure - 50,000 ---------- ---------- Net cash outflow before management of liquid resources and financing (12,839) (97,141) Financing Increase long term loans 9,859 100,000 ---------- ---------- Net cash inflow from financing (9,859) 100,000 ---------- ---------- Decrease in cash in the year 19, 20 (2,980) 2,859 ---------- ---------- ---------- ---------- Welney plc Read Less
DJ Welney plc Shareholding Notification	16/11/2016	TIDMWENP Shareholding Notification 16 November 2016 Welney Plc (“Welney” or the “Company”) Shareholding Notification Welney Plc is pleased to announce that Mr. Mark Jackson has notified the Company that Ventura Finance Limited, a company of which Mr. Mark Jackson is the controlling shareholder has purchased a further 21,000,000 shares in Welney. He previously owned 55,000,000… Read More TIDMWENP Shareholding Notification 16 November 2016 Welney Plc ("Welney" or the "Company") Shareholding Notification Welney Plc is pleased to announce that Mr. Mark Jackson has notified the Company that Ventura Finance Limited, a company of which Mr. Mark Jackson is the controlling shareholder has purchased a further 21,000,000 shares in Welney. He previously owned 55,000,000 shares in the Company through Ventura Finance Limited and 80,000,00 through Quetzal Securities Limited, a company of which Mr Mark Jackson is the controlling shareholder. As a result, through Ventura Finance Limited and Quetzal Securities Limited, Mr Mark Jackson owns 156,000,000 shares, which represents an interest of 10.05% in the shares of the Company. The directors of Welney Plc accept responsibility for this announcement. For further information, please contact: Darren Edmonston, Director Tel: + 44 07976 664813 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA Welney plc Read Less
DJ Welney plc Shareholding Notification	28/10/2016	TIDMWENP Shareholding Notification 28 October 2016 Welney Plc (“Welney” or the “Company”) Shareholding Notification Welney Plc is pleased to announce that Mr. Mark Jackson has notified the Company that Ventura Finance Limited, a company of which Mr. Mark Jackson is the controlling shareholder has purchased a further 55,000,000 shares in Welney. Mr Mark Jackson is… Read More TIDMWENP Shareholding Notification 28 October 2016 Welney Plc ("Welney" or the "Company") Shareholding Notification Welney Plc is pleased to announce that Mr. Mark Jackson has notified the Company that Ventura Finance Limited, a company of which Mr. Mark Jackson is the controlling shareholder has purchased a further 55,000,000 shares in Welney. Mr Mark Jackson is also the controlling shareholder of Quetzal Securities Limited, which already owns 80,000,000 shares in the Company, taking his shareholding to 135,000,000 shares. As a result, through Ventura Finance Limited and Quetzal Securities Limited, Mr Mark Jackson has an interest of 8.7% in the shares of the Company. The directors of Welney Plc accept responsibility for this announcement. For further information, please contact: Darren Edmonston, Director Tel: + 44 07976 664813 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA Welney plc Read Less
DJ Welney plc Shareholding Notification	22/08/2016	TIDMWENP Shareholding Notification 22 August 2016 Welney Plc (“Welney” or the “Company”) Shareholding Notification Welney Plc is pleased to announce that Mr. Mark Jackson has notified the Company that Quetzal Securities Limited, a company of which Mr. Mark Jackson is the controlling shareholder has purchased a further 30,000,000 shares in Welney. Taking his shareholding to… Read More TIDMWENP Shareholding Notification 22 August 2016 Welney Plc ("Welney" or the "Company") Shareholding Notification Welney Plc is pleased to announce that Mr. Mark Jackson has notified the Company that Quetzal Securities Limited, a company of which Mr. Mark Jackson is the controlling shareholder has purchased a further 30,000,000 shares in Welney. Taking his shareholding to 80,000,000 shares. As a result, Quetzal Securities Limited has an interest of 5.18% in the shares of the Company. The directors of Welney Plc accept responsibility for this announcement. For further information, please contact: Darren Edmonston, Director Tel: + 44 07976 664813 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA Welney plc Read Less
DJ Welney plc Shareholding Notification	22/07/2016	TIDMWENP Shareholding Notification 22 July 2016 GB00B2334P26 Welney Plc (“Welney” or the “Company”) Shareholding Notification Welney Plc is pleased to announce that Mr Mark Jackson has notified the Company that Quetzal Securities Limited, a company of which Mr Mark Jackson is the controlling shareholder has purchased 50,000,000 shares in Welney. As a result, Quetzal Securities… Read More TIDMWENP Shareholding Notification 22 July 2016 GB00B2334P26 Welney Plc ("Welney" or the "Company") Shareholding Notification Welney Plc is pleased to announce that Mr Mark Jackson has notified the Company that Quetzal Securities Limited, a company of which Mr Mark Jackson is the controlling shareholder has purchased 50,000,000 shares in Welney. As a result, Quetzal Securities Limited has an interest of 3.2% in the shares of the Company. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976 664813 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Corporate Broking Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA Welney plc Read Less
DJ Welney plc Change of Directorate and of Corporate Adviser	21/04/2016	TIDMWENP Change of Directorate and of Corporate Adviser 21 April 2016 GB00B2334P26 Welney PLC (“Welney” or “the Company”) Directorate change and Change of Corporate Adviser Directorate change The Board of Directors wishes to announce that Luca Tenuta has stepped down from the role of Director with immediate effect. The Company would like to thank Mr… Read More TIDMWENP Change of Directorate and of Corporate Adviser 21 April 2016 GB00B2334P26 Welney PLC ("Welney" or "the Company") Directorate change and Change of Corporate Adviser Directorate change The Board of Directors wishes to announce that Luca Tenuta has stepped down from the role of Director with immediate effect. The Company would like to thank Mr Tenuta for his time and contribution to the Company over his term. The Board has also appointed Darren Edmonston as Director, with immediate effect. Change of Corporate Advisor Welney Plc is also pleased to announce the appointment of Alexander David Securities Limited as the Company's Corporate Adviser with immediate effect. The directors of Welney Plc accept responsibility for this announcement. For further information please contact: Darren Edmonston Tel: + 44 07976 664813 ISDX CORPORATE ADVISER: Alexander David Securities Limited David Scott - Corporate Finance James Dewhurst - Institutional Sales Telephone: +44 (0) 20 7448 9820 http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA Welney plc Read Less
DJ Welney plc Interim results for the six month period ended 31 December 2015	31/03/2016	TIDMWENP Interim results for the six month period ended 31 December 2015 Welney Plc (“Welney” or the “Company”) INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2015 Chairman’s Statement I am pleased to present the interim results of the Company for the six months ended 31 December 2015. The last six months have… Read More TIDMWENP Interim results for the six month period ended 31 December 2015 Welney Plc ("Welney" or the "Company") INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2015 Chairman's Statement I am pleased to present the interim results of the Company for the six months ended 31 December 2015. The last six months have been a time for consolidation, the directors are exploring a number of proposals to be presented to our shareholders shortly. The companies investment in GACR the Nasdaq listed company remains stable. The companies subsidary Metro Environmental Ltd has two options one with an Environment Agency approved tyre recycling business Mitre Rubber Ltd and another with a specialist cleaning company Cleanbrite Facilitation Ltd. The Directors remain in talks with both companies to ascertain the viability of proceeding with these options. The Company is also in discussions for a new investment, and will report on this to shareholders at the AGM in the meantime the Directors will keep costs to a minimum. Luca Tenuta Chairman UNAUDITED PROFIT AND LOSS ACCOUNT FOR THE 6 MONTHS ENDING 31st DECEMBER 2015 6 months to 6 months to 31/12/2015 31/12/2014 GBP GBP Turnover - - Cost of Sales - - ---------- ---------- Gross Profit - - Administrative Expenses (21,709) (11,642) ---------- ---------- Operating loss (21,709) (11,642) Interest payable and similar charges (5,256) - ---------- ---------- Loss on ordinary activities (26,965) (11,642) Profit and loss reserve brought forward (3,296,238) (3,288,431) ---------- ---------- Profit and loss reserve carried forward (3,323,203) (3,300,073) ========== ========== UNAUDITED BALANCE SHEET AS AT 31st DECEMBER 2015 As At As At 31/12/2015 31/12/2014 GBP GBP Current Assets Stocks - - Debtors 71,700 1,950 Cash at Bank 59 23 Investment 2,675 2,675 74,434 4,648 ---------- ---------- Creditors - Within One Year (51,439) (64,634) ---------- ---------- Net Current Assets/(liabilities) 22,995 (59,986) Long term liabilities (95,397) - ---------- ---------- Net (liabilities)/assets (72,402) (59,986) ========== ========== Capital and reserves Called up share capital 1,545,511 1,545,511 Share Premium Reserve 1,562,336 1,562,336 Loan note Reserve 10,714 - Share option reserve 132,240 132,240 Profit and loss reserve (3,323,203) (3,300,073) ---------- ---------- Shareholders' deficit (72,402) (59,986) ========== ========== The financial information contained in the interim statement has not been audited or reviewed by the Company's auditors and does not constitute statutory accounts. The directors of the Company accept responsibility for the contents of this announcement. --ENDS-- Enquiries: Welney Plc Luca Tenuta Tel: 07830 182501 Welney plc Read Less
DJ Welney plc Statement re Final Accounts	22/12/2015	TIDMWENP Statement re Final Accounts Welney PLC Final accounts The Directors of Welney plc (“Welney” or the “Company”) announce that the financial statements for the year ended 30 June 2015 have now been signed off and will be posted to shareholders. The Independent Auditor’s Report contained within the financial statements for the year ended 30… Read More TIDMWENP Statement re Final Accounts Welney PLC Final accounts The Directors of Welney plc ("Welney" or the "Company") announce that the financial statements for the year ended 30 June 2015 have now been signed off and will be posted to shareholders. The Independent Auditor's Report contained within the financial statements for the year ended 30 June 2015 contained the following paragraph "Emphasis of matter - Going concern In forming our modified opinion on the financial statements we have considered the adequacy of the disclosure made in note 1 to the financial statements concerning the Company's ability to continue as a going concern. The Company incurred a net loss of GBP 7,807 during the year ended 30 June 2015 and, at that date, the Company has net current liabilities of GBP 45,537. These conditions, along with the other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Company was unable to continue as a going concern." Please review the Company's Annual Report for full details. The Directors of the Company accept responsibility for this announcement. Luca Tenuta Welney Plc Tel: +44 (0) 7900 242 769 Nick Michaels and Jon Isaacs Alfred Henry Corporate Finance Limited www.alfredhenry.com Tel: +44 (0) 20 7251 3762 Date 22 December 2015 Welney plc Read Less
DJ Welney plc Final Results – Year ended 30 June 2015	30/11/2015	TIDMWENP Final Results – Year ended 30 June 2015 WELNEY PLC (“Welney” or the “Company”) Unaudited Final Results Chairman’s Statement The Directors have spent considerable time resolving the Company’s problems with a view to stabilising the Company and providing a platform which could provide an opportunity for future growth. The recent year has seen a… Read More TIDMWENP Final Results - Year ended 30 June 2015 WELNEY PLC ("Welney" or the "Company") Unaudited Final Results Chairman's Statement The Directors have spent considerable time resolving the Company's problems with a view to stabilising the Company and providing a platform which could provide an opportunity for future growth. The recent year has seen a good deal of change in the company with the sale of our stake in Aircraft Recycling and one of the subsidiary companies Blaze and Barney. Leaving Metro Environmental Ltd and a small shareholding of GACR the Nasdaq listed company which held a stake in Powabyke our former electric bike business. Metro Environmental has two options one with an Environment Agency approved tyre recycling business Mitre Rubber Ltd and another with a specialist cleaning company Cleanbrite Facilitation Ltd. The Directors are currently in talks with both companies to ascertain the viability of proceeding with these options. The Board is also looking at other business to business opportunities and will revert to shareholders in due course. The Company is also in discussions with various parties to secure new investment, in the meantime the Directors will keep costs to a minimum. Luca Tenuta Chairman Welney plc 30 November 2015 PROFIT AND LOSS ACCOUNT for the year ended 30 June 2015 2015 2014 GBP GBP Administrative expenses (56,952) (75,278) Loss on disposal of investment - (218,669) Reversal of impairment/(impairment) of investment 50,000 (1,025,575) ------- --------- Operating loss (6,952) (1,319,522) Interest charge (855) - Reversal of interest charge - 11,179 ------- --------- Loss on ordinary activities before taxation (7,807) (1,308,343) Tax on loss on ordinary activities - - ------- --------- Loss for the year (7,807) (1,308,343) ======= ========= Earnings per share (pence) Basic and diluted loss per share (0.001)p (0.108)p The profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the profit and loss account. BALANCE SHEET as at 30 June 2015 2015 2014 GBP GBP Fixed assets Investments 2,675 2,675 ------- ------- 2,675 2,675 Current assets Debtors 105,850 5,850 Cash at bank and in hand 3,032 173 ------- -------- 108,882 6,023 Creditors: Amounts falling due within one year (66,853) (57,042) ------- -------- Net current assets/(liabilities) 42,029 (51,019) ======= ======== Creditors greater than one year Convertible loan notes (90,141) - ------- -------- Net liabilities (45,437) (48,344) ======= ======== Capital and reserves Called up share capital 1,545,511 1,545,511 Share premium 1,562,336 1,562,336 Loan note holders reserve 10,714 - Share option reserve 132,240 132,240 Profit and loss account (3,296,238) (3,288,431) --------- --------- Shareholders' deficit (45,437) (48,344) ========= ========= The financial information contained in this announcement has not been audited. The Company does not declare a dividend for the period. --ENDS-- The Directors of the Company accept responsibility for this announcement. Enquiries: Welney Plc Luca Tenuta Tel: 078 3018 2501 Alfred Henry Corporate Finance Limited Nick Michaels and Jon Isaacs www.alfredhenry.com Tel: +44 (0) 20 7251 3762 Welney plc Read Less
DJ Welney plc Change of directors and corporate advisor	25/06/2015	TIDMWENP Change of directors and corporate advisor Welney PLC Change of directors and appointment of corporate advisor The Directors of Welney plc (“Welney” or the “Company”) are pleased to announce the appointment today of Luca Tenuta as Chairman of the company. Mr. Tenuta, has over fifteen years of finance industry experience. He has worked in… Read More TIDMWENP Change of directors and corporate advisor Welney PLC Change of directors and appointment of corporate advisor The Directors of Welney plc ("Welney" or the "Company") are pleased to announce the appointment today of Luca Tenuta as Chairman of the company. Mr. Tenuta, has over fifteen years of finance industry experience. He has worked in London for San Paolo IMI, Credit Suisse and Old Park Lane Capital. Additionally, he has served on the boards of European and US public companies. Presently based in Monaco, Mr. Tenuta advises family offices located in the principality on private equity, venture capital and listed investments. Mr. Tenuta is currently Chairman of Ecovista plc, an isdx-quoted company. Fluent in Italian, English and Spanish, he holds an MA in Economics and Finance from Sapienza University in Rome. Mr Tenuta has held the following directorships during the past five years: Director Current directorships: Previous directorships: Luca Tenuta Hydrovista Ltd Worldwide Natural Resources plc Solar EV Ltd 8475514 Ltd Ecovista plc White Star Leisure plc Futura Partners (UK) Ltd 39 Sutherland Avenue Management Company Ltd Purely Financial Group Ltd Coal Fines Resources SA Ltd ECR Minerals plc Ten Brothers Ltd White Star Energy (UK) Ltd Payeasy Solutions UK Ltd Allura Ltd Lexentron Ltd Thames Bank Group Ltd Luca Tentua was a director of Creative Entertainment Group plc until 31 December 2009. On 22 July 2010 a court order was implemented to put the company into liquidation. The loss to creditors is unknown at this stage. There are no other matters which are required to be announced pursuant to Paragraph 21 of Appendix 1 of the ISDX Growth Market "Rules for Issuers". The Directors also wish to announce the resignation of Mark Chapman who is leaving the board to pursue other interest. The Board wish to thank Mark for his service to the Company over the last couple years. Finally the directors wish to announce the appointment of Alfred Henry Corporate Limited as corporate advisors to the Company. The Directors of the Company accept responsibility for this announcement. Luca Tenuta Welney Plc Tel: +44 (0) 7900 242 769 Nick Michaels and Jon Isaacs Alfred Henry Corporate Finance Limited www.alfredhenry.com Tel: +44 (0) 20 7251 3762 Date 25 June 2015 Welney plc Read Less
DJ Welney Plc Welney Plc : Completion Of Disposal; Shareholding In The Company	18/06/2015	TIDMWENP Welney Plc (“Welney” or the “Company”) Completion of Disposal; Shareholding in the Company On 2 June 2015, Welney announced that the Company was in advanced discussions regarding the proposed disposal of its interests in Aircraft Recycling Ltd (“ARL”) and Blaze and Barney Ltd (“B&B”) (the “Disposal”). The Directors of Welney are pleased to announce… Read More TIDMWENP Welney Plc ("Welney" or the "Company") Completion of Disposal; Shareholding in the Company On 2 June 2015, Welney announced that the Company was in advanced discussions regarding the proposed disposal of its interests in Aircraft Recycling Ltd ("ARL") and Blaze and Barney Ltd ("B&B") (the "Disposal"). The Directors of Welney are pleased to announce that the Disposal has now been completed. The Company acquired a 30% interest ARL and the issued share capital of B&B, whose sole business was the operation of a horizontal baling machine for recycling, in February 2014. The total consideration for these acquisition involved the payment of GBP 230,000 in cash to the vendors of the businesses (the "Vendors") and the issue of 234,500,000 ordinary shares in the Company at an agreed value of GBP 58,625. As previously announced, it became clear to the Directors towards the end of 2014 that the operation of the baling machine was not going to be commercially viable for the Company. At around the same time, the Directors became aware that the funds required to develop ARL's recycling business could not be raised. In addition, the contract that ARL was expected to fulfil with a major airline was never started. The Directors therefore resolved to dispose of the Company's interests in ARL and B&B and focus the Company's business on the recycling of rubber and plastics. In connection with the Disposal: -- Hugs General Trading LLC ("HGT") has acquired the 234,500,000 ordinary shares in the Company originally issued to the Vendors; following this acquisition, HGT is interested in shares representing 15.17 per cent of the Company's issued share capital and the Vendors no longer have any interest in the Company; and -- The Vendors have agreed to acquire B&B and the Company's interest in ARL for a consideration of GBP 50,000 which has been paid to the Company in cash. The proceeds of the Disposal will be used as additional working capital for the Company. Welney also announces that Peterhouse Corporate Finance Limited has given notice of its intention to resign as the Company's ISDX Corporate Adviser, such notice to expire on 30 June 2015. The Company is in discussions with a replacement ISDX Corporate Adviser and expects to make a further announcement in due course. The Directors of the Company accept responsibility for the contents of this announcement. --ENDS-- Enquiries: Welney Plc Cameron Luck Tel: +353 (0)861734543 Peterhouse Corporate Finance Limited Fungai Ndoro and Mark Anwyl Tel: 020 7469 0930 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire HUG#1929521 (END) Dow Jones Newswires June 18, 2015 04:00 ET (08:00 GMT) Read Less
DJ Welney Plc Statement Re Update Re: Suspension	02/06/2015	TIDMWENP Welney Plc (“Welney” or the “Company”) Update re: Suspension Following the announcement of the Company’s final and interim results earlier today, the Board of Welney is pleased to announce that trading in the Company’s ordinary shares is expected to resume today, at 12noon. The directors of the Company accept responsibility for the contents of… Read More TIDMWENP Welney Plc ("Welney" or the "Company") Update re: Suspension Following the announcement of the Company's final and interim results earlier today, the Board of Welney is pleased to announce that trading in the Company's ordinary shares is expected to resume today, at 12noon. The directors of the Company accept responsibility for the contents of this announcement. --ENDS-- Enquiries: Welney Plc Cameron Luck Tel: +353 (0)861734543 Peterhouse Corporate Finance Limited Fungai Ndoro and Mark Anwyl Tel: 020 7469 0930 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire HUG#1925638 Read Less
DJ Welney Plc Welney Plc : Half-yearly Report	02/06/2015	TIDMWENP Welney Plc (“Welney” or the “Company”) INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2014 Chairman’s Statement I present the interim results of the Company for the six months ended 31 December 2014. As stated in the Company’s final results to 30 June 2014, released earlier today, the Company has secured new… Read More TIDMWENP Welney Plc ("Welney" or the "Company") INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2014 Chairman's Statement I present the interim results of the Company for the six months ended 31 December 2014. As stated in the Company's final results to 30 June 2014, released earlier today, the Company has secured new investment of GBP100,000 and is in discussions with regards to the sale of Aircraft Recycling Limited and Blaze and Barney Limited. The Directors plan to focus the Company's business on the recycling of rubber and plastics, with initial focus on the recycling of tyres. The Directors expect to be in a position to update shareholders on further developments in the near future. Cameron Luck Chairman UNAUDITED PROFIT AND LOSS ACCOUNT FOR THE 6 MONTHS ENDING 31st DECEMBER 2014 6 months to 6 months to 31/12/2014 31/12/2013 Turnover - 64,163 Cost of Sales - (44,325) Gross Profit - 19,838 Administrative Expenses (11,642) (40,802) Operating loss (11,642) (20,964) Interest payable and similar charges - (1,717) Loss on ordinary activities (11,642) (22,681) Profit and loss reserve brought forward (3,288,431) (2,629,553) Profit and loss reserve carried forward (3,300,073) (2,652,234) UNAUDITED BALANCE SHEET AS AT 31st DECEMBER 2014 As At As At 31/12/2014 31/12/2013 Fixed Assets Intangible assets - 21,542 Tangible Assets - 4,293 - 25,835 Current Assets Stocks - 5,500 Debtors 1,950 216,328 Cash at Bank 23 120,205 Investment 2,675 677,000 4,648 1,019,034 Creditors - Within One Year (64,634) (219,992) Net Current Assets (59,986) 799,042 Long term liabilities - (652,093) Net (liabilities)/assets (59,986) 172,783 Capital and reserves Called up share capital 1,545,511 1,111,911 Share Premium Reserve 1,562,336 1,319,687 Loan note Reserve - 393,419 Share option reserve 132,240 - Profit and loss reserve (3,300,073) (2,652,234) Shareholders' (deficit)/funds (59,986) 172,783 The financial information contained in the interim statement has not been audited or reviewed by the Company's auditors and does not constitute statutory accounts. The directors of the Company accept responsibility for the contents of this announcement. --ENDS-- Enquiries: Welney Plc Cameron Luck Tel: +353 (0)861734543 Peterhouse Corporate Finance Limited Fungai Ndoro and Mark Anwyl Tel: 020 7469 0930 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire HUG#1925633 Read Less
DJ Welney Plc Welney Plc : Final Results	02/06/2015	TIDMWENP Welney Plc (“Welney” or the “Company”) Audited Final Results Chairman’s Statement The Board is pleased to present the results of Welney plc for the year ended 30 June 2014. The recent year has been particularly challenging for the Company and circumstances have forced the Directors to review the Company’s previous investments and strategic focus… Read More TIDMWENP Welney Plc ("Welney" or the "Company") Audited Final Results Chairman's Statement The Board is pleased to present the results of Welney plc for the year ended 30 June 2014. The recent year has been particularly challenging for the Company and circumstances have forced the Directors to review the Company's previous investments and strategic focus as a matter of some urgency. As a result of that review, the Directors are planning to dispose of the Company's initial investments in the recycling sector and have raised additional funds to allow the Company to continue with its strategy of investing in the recycling industry, although focused now on the recycling of rubber and plastics. The background to today's announcement is as follows: On 7 February 2014, the Company announced that it had acquired (i) an interest of 30% in Aircraft Recycling Ltd ("ARL") and (ii) the issued share capital of Blaze and Barney Ltd ("B&B"), whose sole business is the operation of a horizontal baling machine for recycling. The total consideration for these transactions involved the payment of GBP280,000 in cash to the vendors (the "Vendors") and the issue of 234,500,000 ordinary shares in the Company at an agreed value of GBP586,250. In May 2014, to reflect its focus on recycling, the Company disposed of the majority of its interest in Powabyke in settlement of amounts due to various creditors of the Company. Following this settlement, the Company was debt free and, the Directors believed, well placed to capitalise on the opportunities presented by ARL and B&B. In this context, also in May 2014, the Company announced that it was finalising contracts for utilisation of B&B's baling machine which would generate cash flow for the Company. The baling machine was fully operational by October 2014 and the Directors were still optimistic at that time that contracts would be signed and that revenues would be generated for the Company. However, it became clear to the Directors towards the end of 2014 that the operation of the baling machine was not going to be commercially viable for the Company. At around the same time, the Directors became aware that the funds required to develop ARL's recycling business could not be raised. In addition, the contract that ARL was expected to fulfil with a major airline was never started. In light of this and the poor operational performance at B&B, on 1 December 2014, the Directors requested that trading in the Company's shares be suspended while the Company resolved its operational and financial issues. The Directors have spent considerable time attempting to resolve the Company's problems with a view to stabilising the Company and providing a platform which could provide an opportunity for future growth in the recycling industry. The Directors are now pleased to report that Semsa International FZC ("Semsa") has subscribed for GBP100,000 of 6% Convertible Unsecured Loan Notes 2016 (the "Loan Notes") of the Company. Subject to the approval of the Company's shareholders at a general meeting that will be convened as soon as possible, the Loan Notes will be convertible into a total of 100,000,000 ordinary shares in the Company, representing 6.08% per cent of the Company's issued share capital as enlarged by conversion. For every ordinary share converted, Semsa will be entitled to one warrant to subscribe for ordinary shares in the Company at a price of 0.5p per share. The proceeds from the subscription for the Loan Notes will enable the Company to discharge its liabilities and provide the working capital required for it to continue to seek opportunities in the recycling and waste management sector. As mentioned above, the Directors now plan to focus the Company's business on the recycling of rubber and plastics, with an initial focus on the recycling of tyres. To this end, the Company is in advance discussions regarding the disposal of ARL and B&B. The Directors expect to update shareholders on developments in this area shortly. Mark Chapman Chairman PROFIT AND LOSS ACCOUNT for the year ended 30 June 2014 2014 2013 GBP GBP (Restated) Administrative expenses (75,278) (85,085) (Loss)/gain on disposal of investments (218,669) 150,000 Impairment of investments (1,025,575) (123,000) Provision for amounts due from subsidiary - (196,986) Operating loss (1,319,522) (255,071) Reversal of interest charge 11,179 - Interest payable and similar charges - (27,991) Loss on ordinary activities before taxation (1,308,343) (283,062) Tax on loss on ordinary activities - - Loss for the year (1,308,343) (283,062) Earnings per share Basic and diluted loss per share (0.108)p (0.032)p The financial statements for the year ended 30 June 2013 were prepared on a consolidated basis, so the comparative figures have been restated to reflect the results of the Company only. The profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the profit and loss account. BALANCE SHEET as at 30 June 2014 . 2014 2013 GBP GBP Fixed assets Investment in subsidiaries - 315,000 Other investments 2,675 162,000 2,675 477,000 Current assets Debtors 5,850 5,850 Cash at bank and in hand 173 33 6,023 5,883 Creditors: Amounts falling due within one year (57,042) (147,955) Net current liabilities (51,019) (142,072) Creditors greater than one year: Convertible loan notes - (200,040) Net assets/(liabilities) (48,344) 134,888 Capital and reserves Called up share capital 1,545,511 911,011 Share premium 1,562,336 1,010,586 Loan note holders reserve - 61,139 Share option reserve 132,240 132,240 Profit and loss account (3,288,431) (1,980,088) Shareholders' funds/(deficit) (48,344) 134,888 The financial statements were approved by the Board of Directors on 29 May 2015 Emphasis of matter - Going concern In forming their modified opinion on the financial statements, the auditors, Welbeck Associates, have considered the adequacy of the disclosure made in note 1 to the financial statements concerning the Company's ability to continue as a going concern. The Company incurred a net loss of GBP1,308,343 during the year ended 30 June 2014 and, at that date, the Company has net current liabilities of GBP51,019. These conditions, along with the other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Company was unable to continue as a going concern.Please review the Company's Annual Report for full details. The financial information contained in this announcement been extracted from the Company's Annual Report for the year ended 30 June 2014. The Company does not declare a dividend for the period. The directors of the Company accept responsibility for the contents of this announcement. --ENDS-- Enquiries: Welney Plc Cameron Luck Tel: +353 (0)861734543 Peterhouse Corporate Finance Limited Fungai Ndoro and Mark Anwyl Tel: 020 7469 0930 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire HUG#1925630 Read Less
AGM Statement	30/12/2014	AGM Statement Metroelectric Plc METROELECTRIC PLC – RESULT OF ANNUAL GENERAL MEETING AND GENERAL MEETING The Directors are pleased to announce that all of the resolutions put to shareholders were duly passed at the Annual General Meeting and General Meeting held earlier today. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric… Read More AGM Statement Metroelectric Plc METROELECTRIC PLC - RESULT OF ANNUAL GENERAL MEETING AND GENERAL MEETING The Directors are pleased to announce that all of the resolutions put to shareholders were duly passed at the Annual General Meeting and General Meeting held earlier today. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
DJ Welney Plc Welney Plc : Trading Statement	30/10/2014	TIDMWENP WELNEY PLC (“Welney” or the “Company”) Trading Statement During the period, the baler operated by Blaze & Barney Limited (“Blaze & Barney”) has commenced operations and it is expected that commercial production will commence before the end of this year. The Board is currently reviewing matters with regard to obtaining long term contracts, in… Read More TIDMWENP WELNEY PLC ("Welney" or the "Company") Trading Statement During the period, the baler operated by Blaze & Barney Limited ("Blaze & Barney") has commenced operations and it is expected that commercial production will commence before the end of this year. The Board is currently reviewing matters with regard to obtaining long term contracts, in order to strengthen Blaze & Barney's position in the marketplace and create a stable revenue stream. Aircraft Recycling UK Limited ("ARL"), a company in which Welney has a 30% interest, has yet to commence trading. The directors of ARL are renegotiating terms of a contract signed with a major airline, with a view to future, mutually beneficial collaborations. ARL is also examining a number of options to finance its operations. The Company is committed to supporting ARL as its seeks additional funds in order for ARL to investigate opportunities and purchase scrap aircraft for the purpose of re-use and recycling initiatives. The Directors of the Company accept responsibility for this announcement. -ENDS- Enquiries: Welney PLC Mark Chapman Tel: 0744 984 2717 Peterhouse Corporate Finance Limited Fungai Ndoro and Mark Anwyl Tel: 0207 469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Welney Plc via Globenewswire HUG#1867263 Read Less
Statement Re Director Resignation	31/07/2014	TIDMMETP WELNEY PLC (“Welney” or the “Company”) Resignation of Director Welney announces that Gregory Collier (“Greg”) has stepped down from the board of the Company in order to pursue other commitments. Greg’s resignation is effective immediately. The Directors would like to thank Greg for all his work during his time on the Board and would… Read More TIDMMETP WELNEY PLC ("Welney" or the "Company") Resignation of Director Welney announces that Gregory Collier ("Greg") has stepped down from the board of the Company in order to pursue other commitments. Greg's resignation is effective immediately. The Directors would like to thank Greg for all his work during his time on the Board and would like to wish him all the best with his future ventures. The Directors of the Company accept responsibility for this announcement. ENDS Enquiries: Welney PLC Mark Chapman 07449 842717 Peterhouse Corporate Finance Limited Fungai Ndoro and Mark Anwyl Tel: 0207 469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Read Less
Change Of Name	05/06/2014	Welney Plc (“Welney” or the “Company”) formerly Metroelectric Plc Change of Name Further to the approval by Shareholders at the Company’s General Meeting held on 30 April 2014, the Board is pleased to announce that the Company’s name has been changed to Welney Plc. The Company’s new ticker symbol is: WENP. The Company’s change of… Read More Welney Plc ("Welney" or the "Company") formerly Metroelectric Plc Change of Name Further to the approval by Shareholders at the Company's General Meeting held on 30 April 2014, the Board is pleased to announce that the Company's name has been changed to Welney Plc. The Company's new ticker symbol is: WENP. The Company's change of name will be effective from 7.00am on 6 June 2014. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Welney Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Limited Fungai Ndoro and Mark Anwyl Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Globenewswire Read Less
Trading Statement	30/05/2014	TIDMMETP Metroelectric (“Metroelectric” or the “Company”) Trading Statement The Company is pleased to announce a trading statement for the quarter from to 30 April 2014. During the period, Metroelectric acquired a 30% interest in Aircraft Recycling Limited (“ARL”) and also acquired Blaze and Barney Limited, a company set up to operate a Harris horizontal baling… Read More TIDMMETP Metroelectric ("Metroelectric" or the "Company") Trading Statement The Company is pleased to announce a trading statement for the quarter from to 30 April 2014. During the period, Metroelectric acquired a 30% interest in Aircraft Recycling Limited ("ARL") and also acquired Blaze and Barney Limited, a company set up to operate a Harris horizontal baling machine, a grinder used in the recycling industry. Recent efforts have been focussed on the installation and commissioning of the machine at Kiveton in Yorkshire. On 30 April 2014, a general meeting of the Company approved the settlement of certain outstanding debts, amounting to a total of GBP133,052.75, in exchange for the transfer to the creditors, of most of the Company's holding of ordinary shares in Powabyke EV Limited. This has resulted in a substantially reduced debt position. Metroelectric is now finalising contracts with a number of parties interested in utilising its baling machine, the result of which would generate cash flow for the Company. The Directors continue to explore various opportunities in the recycling industry and will look to raise additional capital in due course, in order to take advantage of these. The Directors of the Company accept responsibility for this announcement. --ENDS- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Limited Fungai Ndoro and Mark Anwyl Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Globenewswire Read Less
Result Of The General Meeting	30/04/2014	TIDMMETP 30 April 2014 Metroelectric PLC (“Metroelectric” or the “Company”) Result of the General Meeting The Board of Metroelectric Plc is pleased to announce that at the Company’s General Meeting held earlier today, all the resolutions were duly passed. The Directors of the Company accept responsibility for this announcement. –ENDS– Enquiries: Metroelectric Plc Greg Collier… Read More TIDMMETP 30 April 2014 Metroelectric PLC ("Metroelectric" or the "Company") Result of the General Meeting The Board of Metroelectric Plc is pleased to announce that at the Company's General Meeting held earlier today, all the resolutions were duly passed. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Limited Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Read Less
Statement Re Notice Of General Meeting	04/04/2014	TIDMMETP METROELECTRIC PLC (“Metroelectric” or the “Company”) Notice of General Meeting Metroelectric announces that notice has been sent to Shareholders convening a General Meeting of the Company to be held at 11 a.m. on, 30 April 2014 at 31 Lombard Street, London, EC3V 9BQ. A summary of the resolutions to be proposed at the meeting… Read More TIDMMETP METROELECTRIC PLC ("Metroelectric" or the "Company") Notice of General Meeting Metroelectric announces that notice has been sent to Shareholders convening a General Meeting of the Company to be held at 11 a.m. on, 30 April 2014 at 31 Lombard Street, London, EC3V 9BQ. A summary of the resolutions to be proposed at the meeting is set out below: Resolution 1 will be proposed as an ordinary resolution, seeks approval for the Debt Conversion; Resolution 2 will be proposed as an ordinary resolution, seeks approval for the proposed new Investment Strategy; and Resolution 3 will be proposed as a special resolution, seeks approval to change the name of the Company to Welney Plc. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Limited Fungai Ndoro and Eran Zucker Tel: 020 7469 0934 The text below has been extracted without material adjustment from the circular that has been posted to Shareholders today (the "Circular"). Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to them in the Circular. Introduction I am writing this letter to provide Shareholders with the background to and the reasons for the proposed Debt Conversion, the adoption of the Investment Strategy and the change of name and to explain why I believe these proposals to be in the best interests of the Company and Shareholders as a whole and why Shareholders should vote in favour of the Resolutions at the General Meeting. Greg Collier and Mark Chapman, both of whom are Directors, are interested in the Debt Conversion as creditors of the Company. Accordingly, they will not be recommending the resolution relating to the Debt Conversion. The Company is proposing to transfer its interest in Powabyke to satisfy certain of the Company's outstanding creditors, to formally adopt a new Investment Strategy and to change the Company's name to reflect this new strategy. Background to the Proposals Metrocapital Information Plc was admitted to trading on the PLUS market (now the ISDX Growth Market) in July 2007, as an investment vehicle looking to make investments in the media and information sector. On 26 November 2007, the name of the Company was changed to 'Metroelectric Plc' and the scope of the business changed to allow the Company to invest or trade in the eco-friendly products and technologies sector. On 22 December 2009, the Company announced the acquisition of 100% of the shares ofPowabyke Acquisition Limited (now Powabyke EV Limited), the owner of a leading electric powered bicycle businesses, for a consideration of GBP983,997 which was satisfied, at the time, by a cash payment of GBP120,000 and the allotment and issue of 107,999,640 Ordinary Shares. The Board at the time believed that as Powabyke was an established, cash generative business, it would provide Metroelectric significant returns which would more than justify the initial investment made by the Company. The Company's annual results for the twelve months to 30 June 2013, showed an operating loss for the period of GBP188,435 (2012: loss GBP255,302). The direct contribution to the revenue of the Company attributable to the Powabyke operation during this period was a loss of GBP118,571 (2012: loss GBP123,633). These results reflect the performance of Powabyke since Metroelectric's initial investment in 2009. Although Powabyke has taken various steps to increase its profitability over the years since Metroelectric invested in the company, the operations of Powabyke have not generated sufficient profits to provide Metroelectric with meaningful returns in relation to the investment in the business over the years. Over the past year in particular, Powabyke has faced considerably difficult trading conditions due to a number of factors including the fact that Powabyke did not have the funds necessary to take advantage of various opportunities including those arising from exploiting economies of scale. As a result, Powabyke has lost its competitive position within the electric vehicle market and is facing challenges raising additional funds to provide the working capital required to enable the brand to gain a meaningful share of the electric vehicle market. The management of Powabyke have been reviewing various fundraising options for the company and conditional upon the approval of the Proposals, they intend on focusing on finding alternative sources of finance for Powabyke. Following the conclusion of Metroelectric's financial year, 30 June 2012, the Board has been evaluating the investment portfolio of the Company and looking at ways to optimise the performance of its investments in a manner that will generate meaningful returns for Metroelectric Shareholders. To this end, on 5 November 2012, the Company announced that it had sold a 30% stake in Powabyke to the Green Automotive Company Corporation ("GACR"). More recently, Metroelectric has further diversified its investment portfolio by acquiring a 30% stake in Aircraft Recycling Limited, a company which has recently won a 36 month contract with a major airline to breakdown and recycle the airline's redundant aircraft and 100% of Blaze and Barney Ltd, a company which was setup to operate a Harris Horizontal baling machine. At the same time, the Directors have explored several options with regards to its 70% stake in Powabyke and concluded that the costs associated with continually supporting Powabyke, substantially outweigh the benefits. The Board has therefore concluded that it would be in the Company's best interests to release the Company's interest in Powabyke. They believe that the Debt Conversion, which will have the effect of significantly reducing the Company's debt position and strengthening the balance sheet position of the Company, is the best way of achieving this. The Board believes that Metroelectric would be more strongly supported by returns generated from the other investments made by the Company. It is the Board's belief that Powabyke would be able to raise additional cash to finance its operations as a private company and the management of Powabyke is currently looking at various funding options. Terms of the Debt Conversion The Board has reached agreements with certain creditors of the Company to settle their outstanding debts, amounting to a total of GBP133,052.75. The Debt Settlement would result in a substantially reduced debt position, which will be reflected in the Company's future results. The Debt Conversion involves the writing-off of outstanding amounts due to the Creditors, for which the Company will transfer ordinary shares in Powabyke. As part of the Debt Conversion, Peterhouse Corporate Finance Limited, the Company's ISDX Corporate Adviser, will be given shares in Powabyke in proportion to its outstanding debt. Completion of the Debt Conversion and the transfer of the relevant ordinary shares in Powabyke to the Creditors shall take place within 48 hours after the passing of the resolution of the Company approving the proposals for the Debt Conversion. The terms of the Debt Conversion are calculated on the basis that the underlying value to be placed on Powabyke would be GBP215,471. The Independent Director considers that such a valuation basis is equitable in the circumstances. Mark Chapman, Non-Executive Director of the Company, is currently owed GBP20,500 in outstanding fees and expenses, by the Company. As part of the Debt Conversion, Mr. Chapman has agreed to convert his entire debt of GBP20,500, into 9,054 ordinary shares of Powabyke. Gregory Collier, Executive Director of Metroelectric, is the sole director of Powabyke. Mr. Collier is currently owed GBP76,237.58 relating to outstanding fees and loans advanced to Metroelectric. As part of the Proposals, Mr. Collier has agreed to convert his entire debt of GBP76,237.58 into 33,678 ordinary shares of Powabyke. Following the Debt Conversion, Metroelectric will continue to hold 4,222 ordinary shares representing 4.69 per cent. of the shares in Powabyke. Proposed Investment Strategy The Directors are seeking to broaden the Company's activities to focus on investment in waste and recycling management opportunities, in addition to eco-friendly products and technologies. The Company aims to focus on opportunities in the fields of Recycling and Waste to Energy, initially in the UK; the Board may consider opportunities outside of the UK if they believe that these will enhance the value of the Company's portfolio. The Directors feel that the new emphasis will enable the Company to create and realise sustainable value in order to maximise value for its shareholders. The criteria set out above are not intended to be exhaustive and the Directors may make an investment which does not fulfil any or all of the investment criteria if they believe it is in the best interests of Shareholders as a whole to proceed with such an investment. Metroelectric will seek investment opportunities which can be developed through the investment of capital or where part of or all of the consideration could be satisfied by the issue of Ordinary Shares or other securities in the Company. The Directors feel that their combined experience in investment valuation as well as in the environmental and 'green' sectors, gives the Board the necessary management and investment experience to make investments that fit the Company's strategy, to improve the net asset value of the Company's portfolio of investments. The Company intends to be an active investor in situations where the Company can make a clear contribution to the progress and development of the investment. To this end, where the Directors believe that an (MORE TO FOLLOW) Dow Jones Newswires April 04, 2014 05:39 ET (09:39 GMT) investee company could significantly benefit from the expertise and input of the Directors, then the Directors would seek representation on the board of the investee company. In respect of other, more substantial investment opportunities, the Directors expect that the Company will be more of a passive investor. Proposed Change of Name Subject to Shareholders' approval of the Proposals, it is proposed that the name of the Company be changed to Welney Plc. Action to be taken Shareholders will find a Form of Proxy enclosed for use at the General Meeting. Whether or not you intend to be present at the General Meeting, you are requested to complete and return the Form of Proxy in accordance with the instructions printed thereon as soon as possible. To be valid, completed Forms of Proxy must be received by the Company's registrars, Share Registrars, not later than at 11.00 a.m. on 28 April 2014, being 2 business days before the time appointed for holding the General Meeting. You are entitled to appoint a proxy to attend and to exercise all or any of your rights to vote and to speak at the General Meeting instead of you. Completion of the Form of Proxy will not preclude you from attending and voting at the General Meeting in person if you so wish. Your attention is drawn to the notes to the Form of Proxy. Recommendation The Directors consider the Proposals to be in the best interests of the Company and the Shareholders as a whole. For the reasons set out above, Greg Collier and Mark Chapman are not giving a recommendation on Resolution 1, to approve the Debt Conversion. I, as the Independent Director, however, recommend that you vote in favour of Resolution 1 and all the Directors recommend that you vote in favour of Resolutions 2 and 3. The Board intends to vote in favour of all of the Resolutions in respect of their direct and indirect shareholdings totalling 4,100,000 shares representing approximately 0.27 per cent. of the issued share capital of the Company. Yours faithfully, Cameron Luck Chief Executive Officer This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Read Less
Half-yearly Report	27/03/2014	TIDMMETP Metroelectric Plc (“Metroelectric” or the “Company”) INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2013 Chairman’s Statement I am pleased to present the interim results of the Company for the six months ended 31 December 2013. On the 24 September 2013 we announced the appointment of Cameron Luck to the Board of… Read More TIDMMETP Metroelectric Plc ("Metroelectric" or the "Company") INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2013 Chairman's Statement I am pleased to present the interim results of the Company for the six months ended 31 December 2013. On the 24 September 2013 we announced the appointment of Cameron Luck to the Board of the Company as an Executive Director. Cameron has over 24 years' experience in waste and recycling management and is using his expertise to identify opportunities for the Company in the environmental sector, particularly in the fields of Recycling and Waste to Energy. Since Cameron's appointment, a total of GBP350,000 has been raised by way of subscription to allow the Company to invest in these areas and on 5 December 2013 the Company announced it had acquired an option over a 10% interest in Aircraft Recycling Limited ("ARL") (the "Option"), a company set up to dismantle and recycle redundant aircraft and is currently preparing to undertake its first contract with a major international airline. On 7 February 2014 Metroelectric announced that the Company had exercised the Option and also acquired a further 20% interest in ARL, bringing Metroelecric's total holding in ARL to 30%. At the same time, the Company announced that it had acquired Blaze & Barney Limited, a company operating a large baling machine for compacting materials, such as plastics and metals. Sales within Powabyke, remained disappointing during the reporting period and underlined the Board's intention to move away from the Company's historic focus on electric vehicles. Greg Collier Chairman UNAUDITED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDING 31st DECEMBER 2013 6 months to 6 months to 31/12/2013 31/12/2012 Turnover 64,163 87,893 Cost of Sales (44,325) (86,532) Gross Profit 19,838 1,361 Administrative Expenses (40,802) (97,041) Operating loss (20,964) (95,680) Interest payable and similar charges (1,717) Profit on sale of investment 165,000 Profit/(Loss) on Ordinary activities (22,681) 69,320 Profit and loss reserve brought forward (2,629,553) (1,819,796) Profit and loss reserve (2,652,234) (1,750,476) UNAUDITED BALANCE SHEET AS AT 31st DECEMBER 2013 As At As At 31/12/2013 31/12/2012 Fixed Assets Intangible assets 21,542 275,917 Tangible Assets 4,293 10,892 25,835 286,809 Current Assets Stocks 5,500 40,270 Debtors 216,328 193,480 Cash at Bank 120,205 14,255 Investment 677,000 300,000 1,019,034 548,005 Creditors - Within One Year (219,992) (517,461) Net Current Assets 799,042 (30,544) Long term liabilities (652,093) (300,521) Net assets / liabilities 172,783 (16,832) Capital and reserves Called up share capital 1,111,911 602,011 Share Premium Reserve 1,319,687 1,010,586 Loan note Reserve 393,419 22,471 Share option reserve 132,240 Profit and loss reserve (2,652,234) (1,750,476) Shareholders' funds 172,783 16,832 The financial information contained in the interim statement has not been audited or reviewed by the Company's auditors and does not constitute statutory accounts. The directors of the Company accept responsibility for the contents of this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Limited Fungai Ndoro and Eran Zucker Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Globenewswire Read Less
Statement Re Investments And Issue Of Equity	07/02/2014	TIDMMETP Metroelectric PLC (“Metroelectric” or the “Company”) Investments and Issue of Equity Further to Metroelectric’s announcement of 5 December 2013, the Company is pleased to confirm that it has now exercised its option to buy 10% of the issued share capital of Aircraft Recycling Ltd “(ARL”), the Thetford-based recycler of decommissioned aircraft for a cash… Read More TIDMMETP Metroelectric PLC ("Metroelectric" or the "Company") Investments and Issue of Equity Further to Metroelectric's announcement of 5 December 2013, the Company is pleased to confirm that it has now exercised its option to buy 10% of the issued share capital of Aircraft Recycling Ltd "(ARL"), the Thetford-based recycler of decommissioned aircraft for a cash payment of GBP150,000. In addition to this acquisition, the Company has also agreed to purchase a further 20% of ARL from the company's two existing shareholders, Mr Norman Villis and Venus Holdings LLC. The consideration for this acquisition will be satisfied by the issue of 80,000,000 new ordinary shares in Metroelectric, at a price of 0.25p per share, to each of Mr Villis and Venus Holdings LLC. Venus Holdings LLC is a company controlled by Mr Jahangir Mehn. In addition to the interest in ARL, Metroelectric is pleased to announce that it has agreed to buy the entire issued share capital of Blaze and Barney Ltd ("BBL"). BBL's sole business is the operation of a Harris horizontal baling machine from its base in Kiverton, South Yorkshire; this machine will be used by ARL as part of its aircraft recycling activities. The purchase will be satisfied by GBP80,000 in cash and the issue of 74,500,000 new ordinary shares in Metroelectric at a price of 0.25p per share to BBL's owner, Mr Andrew Villis. Following the issue of shares as referred to above, both Mr Norman Villis and Venus Holdings LLC are each interested in 80,000,000 ordinary shares of Metroelectric, representing 5.18% of the enlarged issued share capital of the Company. Mr Andrew Villis is interested in 74,500,000 ordinary shares of Metroelectric, representing 4.82% of the enlarged issued share capital of the Company. Cameron Luck, a Director of the Company, commented: "With these investments now complete, 'New' Metroelectric has moved even further away from its historic focus on the electric vehicles sector. Shareholders can now look forward to further news on this re-positioning in the very near future". In accordance with the FCA's Disclosure and Transparency Rules, the Board of Metroelectric confirms that following the above allotment, the Company has 1,545,511,405 ordinary shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in the company under the FCA's Disclosure and Transparency Rules. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Limited Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Globenewswire Read Less
AGM Statement	06/02/2014	TIDMMEPT Metroelectric Plc (“Metroelectric” or “the Company”) Result of the AGM The Board of Metroelectric Plc is pleased to announce that at the Company’s Annual General Meeting held earlier today, all the resolutions were duly passed. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Rivington… Read More TIDMMEPT Metroelectric Plc ("Metroelectric" or "the Company") Result of the AGM The Board of Metroelectric Plc is pleased to announce that at the Company's Annual General Meeting held earlier today, all the resolutions were duly passed. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Tel: 020 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Total Voting Rights	31/01/2014	TIDMMETP Metroelectric PLC (“Metroelectric” or the “Company”) Total Voting Rights In accordance with the FCA’s Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 1,311,011,405 ordinary shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they… Read More TIDMMETP Metroelectric PLC ("Metroelectric" or the "Company") Total Voting Rights In accordance with the FCA's Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 1,311,011,405 ordinary shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Limited Eran Zucker and Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Globenewswire Read Less
Result Of Agm	17/01/2014	TIDMMETP Metroelectric Plc (“Metroelectric” or the “Company”) Result of the AGM The Board of Metroelectric Plc is pleased to announce that at the Company’s Annual General Meeting held earlier today, all of the resolutions were duly passed. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501… Read More TIDMMETP Metroelectric Plc ("Metroelectric" or the "Company") Result of the AGM The Board of Metroelectric Plc is pleased to announce that at the Company's Annual General Meeting held earlier today, all of the resolutions were duly passed. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Read Less
Notice Of Agm	08/01/2014	TIDMMETP METROELECTRIC PLC (“Metroelectric” or the “Company”) Notice of AGM Metroelectric announces that notice has been sent convening the Annual General Meeting of the Company to be held at 11.00am on 17 January 2014, at 31 Lombard Street, London, EC3V 9BQ. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg… Read More TIDMMETP METROELECTRIC PLC ("Metroelectric" or the "Company") Notice of AGM Metroelectric announces that notice has been sent convening the Annual General Meeting of the Company to be held at 11.00am on 17 January 2014, at 31 Lombard Street, London, EC3V 9BQ. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0932 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Read Less
Issue Of Equity	03/01/2014	TIDMMETP Metroelectric PLC (“Metroelectric” or the “Company”) Issue of Equity Metroelectric announces that it has received notice from Gatcombe Holdings Limited (“Gatcombe”) to convert their remaining GBP200,000 nominal of unsecured convertible loan notes. As a result, the Company has issued 200,000,000 ordinary shares in the Company at the conversion price of 0.1 pence per share…. Read More TIDMMETP Metroelectric PLC ("Metroelectric" or the "Company") Issue of Equity Metroelectric announces that it has received notice from Gatcombe Holdings Limited ("Gatcombe") to convert their remaining GBP200,000 nominal of unsecured convertible loan notes. As a result, the Company has issued 200,000,000 ordinary shares in the Company at the conversion price of 0.1 pence per share. Gatcombe now holds a total of 250,000,000 ordinary shares representing 19.07% of the enlarged issued share capital of the Company. In accordance with the FCA's Disclosure and Transparency Rules, the Board of Metroelectric confirms that following the above allotment, the Company has 1,311,011,405 ordinary shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Limited Eran Zucker and Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Read Less
Issue Of Equity	31/12/2013	TIDMMETP METROELECTRIC PLC (“Metroelectric” or the “Company”) Issue of Equity & Total Voting Rights Metroelectric is pleased to announce that the Company has raised GBP250,000 by way of a subscription for 100,000,000 new ordinary shares at a price of 0.25p pence per share by the Focus Play Retirement Benefit Scheme. The ordinary shares are registered… Read More TIDMMETP METROELECTRIC PLC ("Metroelectric" or the "Company") Issue of Equity & Total Voting Rights Metroelectric is pleased to announce that the Company has raised GBP250,000 by way of a subscription for 100,000,000 new ordinary shares at a price of 0.25p pence per share by the Focus Play Retirement Benefit Scheme. The ordinary shares are registered in the name of Gleeson Bessent Trustee Services Limited. As a result of this allotment, the Focus Play Retirement Benefit Scheme is interested in 100,000,000 ordinary shares representing 9.00% of the enlarged issued share capital of the Company. In accordance with the FCA's Disclosure and Transparency Rules, the Board of Metroelectric confirms that following the above allotment, the Company has 1,111,011,405 ordinary shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in Imperial under the FSA's Disclosure and Transparency Rules. The Directors of the Company accept responsibility for this announcement. ENDS Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Globenewswire Read Less
Issue Of Equity	17/12/2013	TIDMMETP Metroelectric PLC (“Metroelectric” or the “Company”) Issue of Equity Metroelectric announces that following receipt of a notice from Gatcombe Holdings Limited (“Gatcombe”) to convert GBP50,000 nominal of unsecured convertible loan notes, the Company has issued 50,000,000 ordinary shares in the Company at the conversion price of 0.1 pence per share. As a result of… Read More TIDMMETP Metroelectric PLC ("Metroelectric" or the "Company") Issue of Equity Metroelectric announces that following receipt of a notice from Gatcombe Holdings Limited ("Gatcombe") to convert GBP50,000 nominal of unsecured convertible loan notes, the Company has issued 50,000,000 ordinary shares in the Company at the conversion price of 0.1 pence per share. As a result of this allotment, Gatcombe holds a total of 50,000,000 ordinary shares representing 5.02% of the enlarged issued share capital of the Company. In accordance with the FCA's Disclosure and Transparency Rules, the Board of Metroelectric confirms that following the above allotment, the Company has 1,011,011,405 ordinary shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Limited Eran Zucker and Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Globenewswire Read Less
Statement Re Market Update	05/12/2013	TIDMMETP METROELECTRIC PLC (“Metroelectric” or the “Company”) Market Update Metroelectric is pleased to announce that is has acquired an option over a 10% interest in Aircraft Recycling Limited (‘ARL’). ARL has recently won a 36 month contract with a major airline to breakdown and recycle the airline’s redundant aircraft. This work will be carried out… Read More TIDMMETP METROELECTRIC PLC ("Metroelectric" or the "Company") Market Update Metroelectric is pleased to announce that is has acquired an option over a 10% interest in Aircraft Recycling Limited ('ARL'). ARL has recently won a 36 month contract with a major airline to breakdown and recycle the airline's redundant aircraft. This work will be carried out at ARL's existing facility at Norwich International Airport. In consideration for the granting of the option, Metroelectric has paid a cash fee of GBP50,000 to ARL. The option gives Metroelectric the right to acquire a 10% interest in ARL for a further consideration of GBP150,000. The option period expires on the 1st November 2014. Following the signing of the option agreement, Cameron Luck, a director of the Company, has been appointed as a director of ARL. Cameron Luck, a director of Metroelectric, commented: "I am delighted to have secured this agreement and be appointed to the board of ARL. I am confident we can work with ARL to secure other lucrative contracts within the aircraft sector benefitting from ARL's aviation contacts and my environmental/recycling knowledge." The Directors of the Company accept responsibility for this announcement. --ENDS- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Ltd Eran Zucker Tel: 020 7469 0934 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Globenewswire Read Less
Statement Re Unaudited Final Results	29/11/2013	TIDMMETP METROELECTRIC PLC (“Metroelectric” or the “Company”) Unaudited Final Results Chairman’s Statement The Board is pleased to present the results of Metroelectric plc (“the Company”) for the year ended 30(th) June 2013. RESULTS During the period for the year to 30 June 2013, the Company made a loss of GBP217,697 (2012: GBP295,527). The loss per… Read More TIDMMETP METROELECTRIC PLC ("Metroelectric" or the "Company") Unaudited Final Results Chairman's Statement The Board is pleased to present the results of Metroelectric plc ("the Company") for the year ended 30(th) June 2013. RESULTS During the period for the year to 30 June 2013, the Company made a loss of GBP217,697 (2012: GBP295,527). The loss per ordinary share for the year was 0.021p (2012: 0.061p). Sales have continued to be slow, primarily hampered by cash restraint. Product development has also continued to be limited by the Company's cash position during the year. On the 2(nd) August 2012 the company announced the conversion of all the loan notes outstanding at the time (totalling GBP309,000). Whilst this cleared most of the outstanding debt it left the company with limited cash reserves and on the 7(th) November 2012 we raised a further GBP250,000 by issue of convertible loan notes. On the 5(th) November 2012, Metroelectric announced it has sold a 30% stake in Powabyke EV Ltd, its trading subsidiary to the Green Automotive Company Corporation ("GACR"), for 1,050,000 GACR ordinary shares. GACR shares are traded on the OTC Market Tier--OTC Pink Current under the ticker "GACR". The Company still retains these shares. POST BALANCE SHEET EVENTS Whilst Metroelectric has made some progress in its main business, the retailing of electric bicycles, the Company continues to be constrained by cash, limiting the Directors' ability to drive forward the Company's current business plan. On the 28(th) September 2013 the Company was pleased to announce the appointment of a new Executive Director, Cameron Luck. With over 24 years' experience in waste and recycling, Cameron will help to broaden the Company's activities encompassing other eco-friendly products and technologies, particularly in the fields of Recycling and Waste to Energy. The Company simultaneously announced the need to raise additional capital and on 30(th) October 2013 a GBP100,000 was raised by issue of new shares. Greg Collier Chairman Metroelectric plc 30 November 2013 thshares are traded on the OTC Market Tier--OTC Pink Current under the ticker "GACR". The Company still retains these shares. CONSOLIDATED PROFIT AND LOSS ACCOUNT for the year ended 30 June 2013 2013 2012 GBP GBP Turnover 137,792 226,619 Cost of sales (143,968) (248,295) Gross loss (6,176) (21,676) Research and development credit 27,113 - Administrative expenses (236,372) (233,626) Gain on disposal of investment 150,000 - Provision for diminution in value of investment (123,000) - Operating loss (188,435) (255,302) Interest payable and similar charges (29,262) (40,225) Loss on ordinary activities before taxation (217,697) (295,527) Tax on loss on ordinary activities - - Loss for the year (217,697) (295,527) Attributable to: Owners of the parent company (182,125) (295,527) Minority interests (35,572) - (217,697) (295,527) Earnings per share (pence) Basic and diluted loss per share (0.021)p (0.061)p CONSOLIDATED BALANCE SHEET as at 30 June 2013 . 2013 2012 GBP GBP Fixed assets Goodwill 311,924 421,917 Other intangible fixed assets 10,892 13,840 Investments 162,000 - 484,816 435,757 Current assets Stocks 3,964 64,653 Debtors 77,966 27,448 Cash at bank and in hand 20,018 399 101,948 92,500 Creditors: Amounts falling due within one year (278,437) (386,224) Net current liabilities (166,489) (293,724) Creditors greater than one year: Convertible loan notes (208,373) (194,521) Net liabilities/(assets) 99,954 (52,488) Capital and reserves Called up share capital 911,011 602,011 Share premium 1,010,586 1,010,586 Loan note holders reserve 61,139 22,471 Share option reserve 132,240 132,240 Profit and loss account (1,979,450) (1,819,796) Shareholders funds/(deficit) 135,526 (52,488) Minority interest (35,572) - (99,954) (52,488) The financial information contained in this announcement has not been audited. The financial information contained in these results has been reviewed by the Company's auditor. The Company does not declare a dividend for the period. --ENDS-- The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Ltd Eran Zucker Tel: 020 7469 0932 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Globenewswire Read Less
Issue Of Equity	30/10/2013	TIDMMETP METROELECTRIC PLC (“Metroelectric” or the “Company”) Issue of Equity Metroelectric is pleased to announce that the Company has raised GBP100,000 by way of a subscription for 50,000,000 new ordinary shares in the Company at a price of 0.2p pence per share. The shares were subscribed by Manilva Investments Limited, which is now interested in… Read More TIDMMETP METROELECTRIC PLC ("Metroelectric" or the "Company") Issue of Equity Metroelectric is pleased to announce that the Company has raised GBP100,000 by way of a subscription for 50,000,000 new ordinary shares in the Company at a price of 0.2p pence per share. The shares were subscribed by Manilva Investments Limited, which is now interested in 50,000,000 ordinary shares, representing 5.21% of the issued share capital of the Company. As announced on 24 September 2013, the funds raised will be used for working capital and to identify opportunities for the Company in the environmental sector, in order to widen its business remit. Following the issue of the shares above, Metroelectric has a total of 961,011,405 ordinary shares in issue. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in Imperial under the FSA's Disclosure and Transparency Rules. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Limited Eran Zucker Tel: 020 7469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement Re Trading Update And Directorate Change	24/09/2013	TIDMMETP 24 September 2013 METROELECTRIC PLC (“Metroelectric” or the “Company”) Trading Update and Directorate Change Metroelectric is making some progress in its main business, the retailing of electric bicycles, but the Company continues to be constrained by cash, limiting the Directors’ ability to drive forward the Company’s current business plan. As a result, the Directors… Read More TIDMMETP 24 September 2013 METROELECTRIC PLC ("Metroelectric" or the "Company") Trading Update and Directorate Change Metroelectric is making some progress in its main business, the retailing of electric bicycles, but the Company continues to be constrained by cash, limiting the Directors' ability to drive forward the Company's current business plan. As a result, the Directors are seeking to broaden the Company's activities to encompass other eco-friendly products and technologies. As a first step in this initiative, Metroelectric is pleased to announce the appointment of Cameron Luck to the Board of the Company as an Executive Director. Cameron has over 24 years' experience in waste and recycling management and will use his expertise to identify opportunities for the Company in the environmental sector, particularly in the fields of Recycling and Waste to Energy. To the extent that appropriate investment opportunities are identified, shareholders should be aware that the Company will need to raise additional capital. In addition to the directorship of the Company, Cameron Luck holds or has held the following directorships or has been a partner in the following partnerships within the five years prior to the date of this announcement. Current Directorships Past Directorships Clear Future Polymers Limited Camshron Environmental Limited Irecycle Limited In addition, Mr Luck was a director of Cameron House Holdings Ltd a company which never traded and was dormant when dissolved in September 2009 Railuck Environmental Solutions Limited from which Mr Luck resigned in October 2002 entered into a creditors voluntary liquidation in March 2004; and Greenloc Waste Equipment Limited, where Mr Luck ceased to be a director on the dissolving of the Company in April 2006, entered into a creditors voluntary liquidation in September 2004. Both companies are now dissolved. Save as aforesaid, no additional information relating to Mr Luck falls to be disclosed pursuant to Rule 70 and paragraph 21 of Appendix 1 of the ISDX Growth Market - Rules for Issuers. The Directors of the Company accept responsibility for this announcement. --ENDS- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Limited Eran Zucker Tel: 020 7469 0932 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Trading Statement	30/04/2013	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Trading Statement The Company is pleased to announce a trading statement for the period from 1 January 2013 to 31 March 2013. During the three month period, the Board of Metroelectric has been finalising the development and manufacture of the new Powabyke X-byke range. We are pleased that… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Trading Statement The Company is pleased to announce a trading statement for the period from 1 January 2013 to 31 March 2013. During the three month period, the Board of Metroelectric has been finalising the development and manufacture of the new Powabyke X-byke range. We are pleased that the new designs (gents and ladies) will be ready for shipment to the UK by early May when the first container of 200 units will be dispatched. In addition, our partners Wonder EV recently exhibited the new range of Powabyke at the Canton Fair, Guangzhou in China. This has attracted a lot of international interest in the brand that we are now following up. Whilst the Company continues to be constrained by cash, limiting our ability to fully implement our business plan, the Board is confident that the Company is now moving in the right direction. The Directors of the Company accept responsibility for this announcement. --ENDS- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Ltd Eran Zucker and Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Half-yearly report	28/03/2013	TIDMMEPT Metroelectric Plc (“Metroelectric” or the “Company”) INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31(st) DECEMBER 2012 Chairman’s Statement I am pleased to present the interim results for the Company for the six months ended 31st December 2012. Turnover during the period was ÂGBP87,893. The Directors believe that the sales of the Company continued… Read More TIDMMEPT Metroelectric Plc ("Metroelectric" or the "Company") INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31(st) DECEMBER 2012 Chairman's Statement I am pleased to present the interim results for the Company for the six months ended 31st December 2012. Turnover during the period was ÂGBP87,893. The Directors believe that the sales of the Company continued to be affected by the dull and wet summer/autumn in the UK and the general uncertain economic environment. Furthermore, lack of sufficient working capital has constrained our ability to order sufficient stock and restricted our ability to fully implement our business plan. However development and manufacture of the new range of Powabyke, the "Xbyke", is underway and the Directors expect delivery of units to the UK to occur during the summer. The Xbyke features include improved battery capacity with an integrated control box, increasing efficiency and reducing external wiring. On 5 November 2012, Metroelectric announced that it had sold a 30% stake in Powabyke EV Ltd, its trading subsidiary, to the Green Automotive Company Corporation ("GACR"), for 1,050,000 GACR ordinary shares. GACR shares are traded on the OTC Market Tier--OTC Pink Current under the ticker "GACR". With a presence in the USA, we hope to work with GACR to develop business opportunities in that country. The Company is currently seeking further funds and expects to be in a position to notify Shareholders of the result of such efforts in the near future. Greg Collier Chairman UNAUDITED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDING 31st DECEMBER 2012 6 months to 6 months to 31/12/2012 31/12/2011 Turnover 87,893 130,100 Cost of Sales (86,532) (128,127) Gross Profit 1,361 1,973 Administrative Expenses (97,041) (133,021) Operating loss (95,680) (131,048) Interest payable and similar charges (30,711) Profit on sale of investment 165,000 Profit on Ordinary activities 69,920 (161,759) Profit and loss reserve brought forward (1,819,796) (1,524,269) Profit and loss reserve (1,750,476) (1,686,028) UNAUDITED BALANCE SHEET AS AT 31st DECEMBER 2012 As At As At 31/12/2012 31/12/2011 Fixed Assets Intangible assets 275,917 445,317 Tangible Assets 10,892 8,790 286,809 454,107 Current Assets Stocks 40,270 133,121 Debtors 193,480 160,546 Cash at Bank 14,255 759 Investment 300,000 0 548,005 294,426 Creditors - Within One Year (517,461) (599,602) Net Current Assets 30,544 (305,176) Long term liabilities (300,521) (190,151) Net assets / liabilities 16,832 (41,220) Capital and reserves Called up share capital 602,011 479,511 Share Premium Reserve 1,010,586 1,010,586 Loan note Reserve 22,471 22,471 Share option reserve 132,240 132,240 Profit and loss reserve (1,750,476) (1,686,028) Shareholders' funds 16,832 (41,220) The financial information contained in the interim statement has not been audited or reviewed by the Company's auditors and does not constitute statutory accounts. The directors of the Company accept responsibility for the contents of this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Ltd Eran Zucker and Fungai Ndoro Tel: 020 7469 0932 end_of_the_skype_highlighting This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Result of AGM	04/01/2013	TIDMMEPT Metroelectric Plc (“Metroelectric” or the “Company”) Result of the AGM The Board of Metroelectric Plc is pleased to announce that at the Company’s General Meeting held earlier today, all the resolutions were duly passed. The Company also confirms that the General Meeting of the Company convened today for the purpose of considering, in accordance… Read More TIDMMEPT Metroelectric Plc ("Metroelectric" or the "Company") Result of the AGM The Board of Metroelectric Plc is pleased to announce that at the Company's General Meeting held earlier today, all the resolutions were duly passed. The Company also confirms that the General Meeting of the Company convened today for the purpose of considering, in accordance with section 656 of the Companies Act 2006, whether any, and if so what, steps should be taken to deal with the situation that the net assets of the Company being less than half of its called- up share capital, has been duly held. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0932 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Notice of AGM and GM	07/12/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Notice of AGM and GM Metroelectric announces that notice has been sent convening the Annual General Meeting of the Company to be held at 10.30am on 4 January 2013, at 31 Lombard Street, London, EC3V 9BQ. In addition the Company announces that notice has been sent to Shareholders… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Notice of AGM and GM Metroelectric announces that notice has been sent convening the Annual General Meeting of the Company to be held at 10.30am on 4 January 2013, at 31 Lombard Street, London, EC3V 9BQ. In addition the Company announces that notice has been sent to Shareholders convening a General Meeting of the Company to be held at 11.00am, on 4 January 2013, at 31 Lombard Street, London, EC3V 9BQ. The General Meeting of the Company is being convened for the purpose of considering, in accordance with Section 656 of the Act, whether any, and, if so, what steps should be taken to deal with the situation of the net assets of the Company representing less than half of its called-up share capital The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0932 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Unaudited Final Results	30/11/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Unaudited Final Results Chairman’s Statement The Board is pleased to present the results of Metroelectric plc for the year ended 30(th) June 2012. During the reporting period, the Company made a loss for the year to 30 June 2012 of ÂGBP295,527 (2011: ÂGBP1,277,427). The loss per ordinary share… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Unaudited Final Results Chairman's Statement The Board is pleased to present the results of Metroelectric plc for the year ended 30(th) June 2012. During the reporting period, the Company made a loss for the year to 30 June 2012 of ÂGBP295,527 (2011: ÂGBP1,277,427). The loss per ordinary share for the year was 0.061p (2011: 0.342p). Sales have been significantly affected by difficult economic conditions and an exceptionally dull and wet summer in the UK.. Product development has also been limited by the Company's cash position during the year. The Board has worked tirelessly during the year to consolidate the Company's debt position, the results of which will only fully be reflected in next year's results. Following Paul Rewrie's departure from the Board in January, the Company has undertaken a review of its financial position and has taken steps to improve the Company's balance sheet. The steps taken to streamline the business' fixed costs have significantly reduced the loss before taxation to ÂGBP295,527, compared to ÂGBP1,277,427(loss) in the previous year. POST BALANCE SHEET EVENTS On 17th July 2012 the Company announced that it has entered into an initial five year, exclusive agreement with Jinhua Xiongying Electric Vehicle Manufacturer Ltd ("Jinhua") to distribute its electric bikes, trikes and folding bikes in the UK and Eire. Jinhua manufacture a wide range of innovative electric bikes, currently known as eRolling Bikes. On the 2(nd) August 2012 the Company announced it had settled ÂGBP309,000 of convertible loan notes, issued by the Company, into equity, clearing the majority of the long term debt of the Company. On the 5(th) November 2012, Metroelectric sold a 30% stake in Powabyke EV Ltd, its trading subsidiary, to the Green Automotive Company Corporation ("GACR"), for 1,050,000 GACR ordinary shares. GACR shares are traded on the OTC Market Tier--OTC Pink Current under the ticker "GACR". At the same time, the Company also signed a management contract with Liberty Electric Cars Ltd ("Liberty"), a wholly owned subsidiary of GACR, for the UK distribution of the Metroelectric's range of electric bikes under the Powabyke and eRolling brand. Under the agreement, Liberty assumes full responsibility for the distribution, management and control of the Powabyke business in the UK and Eire. Consequently, the heads of term agreement between the Company and Eveport Limited was terminated. On 7 November 2012, Metroelectric acquired Eveport Ltd and assumed control of client management and accounting systems which will assist in the distribution of Powabyke products. On the 7(th) November 2012 the Company raised ÂGBP250,000 through the issuance of convertible loan notes. These funds will be used to settle outstanding liabilities of the Company and to provide working capital going forward. The Board sees the restructuring of the Company's financial position during the past year as an essential part of the process of getting Metroelectric back to profitability. We continue to actively seek new partners to represent the Powabyke brand worldwide. The Board will continue to work hard to strengthen the balance sheet of the Company and further develop the Powabyke brand in the hope of creating value for Shareholders in the future. Greg Collier Chairman Metroelectric plc 30 November 2012 CONSOLIDATED PROFIT AND LOSS ACCOUNT for the year ended 30 June 2012 2012 2011 ÂGBP ÂGBP Turnover 226,619 613,127 Cost of sales (248,295) (630,937) Gross loss (21,676) (17,810) EU grant income - 13,189 Distribution costs - - Administrative expenses (233,626) (644,240) Loss on disposal of fixed assets - - Impairment of goodwill - (432,396) Operating loss (255,302) (1,081,257) Interest payable and similar charges (40,225) (196,170) Loss on ordinary activities before taxation (295,527) (1,277,427) Tax on loss on ordinary activities - - Loss for the year (295,527) (1,277,427) Earnings per share (pence) Basic and diluted loss per share (0.061)p (0.342)p CONSOLIDATED BALANCE SHEET as at 30 June 2012 . 2012 2011 ÂGBP ÂGBP Fixed assets Goodwill 421,917 443,917 Other intangible fixed assets 13,840 16,264 -------------- -------------- 435,757 460,181 Current assets Stocks 64,653 115,875 Debtors 27,448 352,945 Cash at bank and in hand 399 15,098 -------------- -------------- 92,500 483,918 Creditors: Amounts falling due within one year (386,224) (733,409) -------------- -------------- Net current liabilities (293,724) (249,491) Creditors greater than one year: Convertible loan notes (194,521) (190,151) -------------- -------------- Net liabilities/(assets) (52,488) 20,539 -------------- -------------- Capital and reserves Called up share capital 602,011 379,511 Share premium 1,010,586 1,010,586 Loan note holders reserve 22,471 22,471 Share option reserve 132,240 132,240 Profit and loss account (1,819,796) (1,524,269) -------------- -------------- Shareholders' deficit/ (funds) (52,488) 20,539 -------------- -------------- In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 1 to the financial statements concerning the Group's ability to continue as a going concern. The Group incurred a net loss of ÂGBP295,527 during the year ended 30(th) June 2012 and, at that date, the Group has net liabilities of ÂGBP52,488 and net current liabilities of ÂGBP293,724. These conditions, along with the other matters explained in note 1 to the financial statements, contained in the full accounts, indicate the existence of a material uncertainty which may cast significant doubt about the Group's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern. The financial information contained in this announcement has not been audited. The financial information contained in these results has been reviewed by the Company's auditor.. The Company does not declare a dividend for the period. --ENDS-- The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0932 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Issue of Convertible Loan Notes	07/11/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Issue of Convertible Loan Notes Metroelectric is pleased to announce that the Company has issued ÂGBP250,000 unsecured, convertible loan notes (“Loan Notes”) to Gatcombe Holdings Limited a company owned by Edward D’Angelo. The Loan Notes are convertible at a price of 0.1 pence per share and are exercisable… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Issue of Convertible Loan Notes Metroelectric is pleased to announce that the Company has issued ÂGBP250,000 unsecured, convertible loan notes ("Loan Notes") to Gatcombe Holdings Limited a company owned by Edward D'Angelo. The Loan Notes are convertible at a price of 0.1 pence per share and are exercisable at any time up to 26(th) October 2015. The annual interest payable on the Loan Notes is 5% per annum. The majority of the funds raised will be used to settle outstanding debts and the rest to provide the Company working capital. In addition, Metroelectric is pleased to announce that Powabyke EV Ltd (Powabyke"), the Company's subsidiary has acquired Eveport Ltd for a sum of ÂGBP10,000 in cash. As part of this acquisition, Powabyke EV ltd will be assuming control of client management and accounting systems which will assist in the distribution of Powabyke products. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0932 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Market Update	05/11/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Market Update Metroelectric is pleased to announce it has sold a 30% stake in Powabyke EV Ltd, its wholly owned subsidiary to the Green Automotive Company Corporation (“GACR”), for 1,050,000 GACR ordinary shares. The GACR shares were had a price of USD 0.44 on the last practical day… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Market Update Metroelectric is pleased to announce it has sold a 30% stake in Powabyke EV Ltd, its wholly owned subsidiary to the Green Automotive Company Corporation ("GACR"), for 1,050,000 GACR ordinary shares. The GACR shares were had a price of USD 0.44 on the last practical day before the signing of the agreement. The Company is also pleased to announce that it has signed a management contract with Liberty Electric Cars Ltd ("Liberty"), a wholly owned subsidiary of GACR for the UK distribution of the Metroelectric's range of electric bikes under the Powabyke and eRolling brand. Under the agreement, Liberty will assume full responsibility for the UK & Eire, distribution, management and control of the Powabyke business. Consequently, the heads of term agreement between the Company and Eveport Limited, setting out the terms of an exclusive license in the UK for a period of 5 years, has been terminated. Liberty Electric Cars Limited currently designs, develops, manufacturers and markets electric vehicle technologies for use in its own converted vehicles and for sale to Original Equipment Manufacturers for incorporation into their production. It provides a full after-market program to electric vehicle users to ensure the longevity of their vehicles and has partnership arrangements in other European countries. Greg Collier, Chairman of Metroelectric, commented: "We have been in dialogue with Liberty for a long time as our respective companies have followed a parallel path in the same industry. Utilising the sales and marketing resource of Liberty makes complete sense to us and we hope this partnership will flourish as our range of products grows. I hope our relationship will develop enabling further collaboration in the future." The Directors of the Company accept responsibility for this announcement. =-ENDS- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE [HUG#1654813] Read Less
Statement re Trading Statement	31/10/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Trading Statement The Company is pleased to announce a trading statement for the period from 1 July to 30 September 2012. On 17 July 2012, Metroelectric entered into a five year, exclusive agreement with Jinhua Xiongying Electric Vehicle Manufacturer Ltd to distribute its electric bikes, trikes and folding… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Trading Statement The Company is pleased to announce a trading statement for the period from 1 July to 30 September 2012. On 17 July 2012, Metroelectric entered into a five year, exclusive agreement with Jinhua Xiongying Electric Vehicle Manufacturer Ltd to distribute its electric bikes, trikes and folding bikes throughout the UK and Eire. During the three months to 30 September 2012, the Board of Metroelectric has been focused on improving the Company's long term balance sheet position. To this end, on 2 August 2012, Metroelectric announced that various holders of convertible loan notes issued by the Company had converted loan notes, valued at over ÂGBP300,000, into equity in the Company. As a result, the Company does not have any outstanding convertible loan notes. The Board continues to seek methods of restructuring debts and liabilities so as to improve the financial position of the Company going forward. Metroelectric has received assurances from one of the major shareholders of the Company, who has committed to support the Company in the event that any unforeseen financial liabilities arise. The Board hopes to secure further funding in the near future, enabling the Directors to focus on building the Powabyke brand and improving the distribution channels of its products. The Directors of the Company accept responsibility for this announcement. --ENDS- Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Holding(s) in Company	20/09/2012	19(th) September 2012 METROELECTRIC PLC (“Metroelectric” or the “Company”) Holding(s) in Company On 17 September 2012, the Company was notified that joint holders Martin Collins and Clare Collins disposed of shares in Metroelectric, on 14 September 2012. As a result, Martin Collins and Clare Collins hold 72,935,000 ordinary shares in the Company, representing 8.01% of… Read More 19(th) September 2012 METROELECTRIC PLC ("Metroelectric" or the "Company") Holding(s) in Company On 17 September 2012, the Company was notified that joint holders Martin Collins and Clare Collins disposed of shares in Metroelectric, on 14 September 2012. As a result, Martin Collins and Clare Collins hold 72,935,000 ordinary shares in the Company, representing 8.01% of the issued share capital of the Company. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 0783 018 2501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Holding(s) in Company	05/09/2012	TIDMMEPT 5 September 2012 METROELECTRIC PLC (“Metroelectric” or the “Company”) Holding(s) in Company On 3(rd) September 2012, the Company was notified that joint holders Martin Collins and Clare Collins disposed of shares in Metroelectric on 29 August 2012. As a result, Martin Collins and Clare Collins hold 88,935,000 ordinary shares in the Company, representing 9.76%… Read More TIDMMEPT 5 September 2012 METROELECTRIC PLC ("Metroelectric" or the "Company") Holding(s) in Company On 3(rd) September 2012, the Company was notified that joint holders Martin Collins and Clare Collins disposed of shares in Metroelectric on 29 August 2012. As a result, Martin Collins and Clare Collins hold 88,935,000 ordinary shares in the Company, representing 9.76% of the issued share capital of the Company. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 0783 018 2501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Total voting rights	31/08/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Total Voting Rights In accordance with the FSA’s Disclosure and Transparency Rules, the Board of Metroelectric Plc confirms that the Company has 911,011,405 shares of 0.1p in issue carrying voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Total Voting Rights In accordance with the FSA's Disclosure and Transparency Rules, the Board of Metroelectric Plc confirms that the Company has 911,011,405 shares of 0.1p in issue carrying voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FSA's Disclosure and Transparency Rules. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Loan Settlement, Issue of Equity and Total Voting Rights	02/08/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Loan Settlement, Issue of Equity and Total Voting Rights Metroelectric today announces that it has issued a total of 309,000,000 ordinary shares of 0.1p following full conversion of all outstanding convertible loan notes issued by the Company amounting to a total of ÂGBP309,000. The conversion of these loan… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Loan Settlement, Issue of Equity and Total Voting Rights Metroelectric today announces that it has issued a total of 309,000,000 ordinary shares of 0.1p following full conversion of all outstanding convertible loan notes issued by the Company amounting to a total of ÂGBP309,000. The conversion of these loan notes has resulted in the following holdings of ordinary shares in the Company: +------------------+-------------+---------------+---------------+-------------+ \|Name: \|Loan notes \|Number of \|Total holding \|Resultant \| \| \|converted \|ordinary shares\|following \|holdings: \| \| \|(ÂGBP): \|issued at \|conversion: \| \| \| \| \|0.1pence: \| \| \| +------------------+-------------+---------------+---------------+-------------+ \|Pictou Limited \|106,000 \|106,000,000 \|106,000,000 \|11.63% \| +------------------+-------------+---------------+---------------+-------------+ \|Mayfair \|133,000 \|133,000,000 \|186,555,817 \|20.48% \| \|International FCZ \| \| \| \| \| +------------------+-------------+---------------+---------------+-------------+ \|Manilva \|70,000 \|70,000,000 \|82,500,000 \|9.05% \| \|Investments Ltd \| \| \| \| \| +------------------+-------------+---------------+---------------+-------------+ Following the conversion of the above loan notes, the Company no longer has any convertible loan notes outstanding. The Company has also been notified that Union MedTech Plc no longer holds a disclosable interest in the Company. In accordance with the FSA's Disclosure and Transparency Rules, the Board of Metroelectric Plc confirms that the Company has 911,011,405 shares of 0.1p in issue carrying voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FSA's Disclosure and Transparency Rules. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Exclusive Electric Bike Distribution Agreement	17/07/2012	TIDMMEPT Metroelectric Plc (“Metroelectric” or the “Company”) Exclusive Electric Bike Distribution Agreement Metroelectric Plc a leader in the manufacture and distribution of electric bicycles and other electric personal transport, is pleased to announce that it has entered into an initial five year, exclusive agreement with Jinhua Xiongying Electric Vehicle Manufacturer Ltd (“Jinhua”) to distribute its… Read More TIDMMEPT Metroelectric Plc ("Metroelectric" or the "Company") Exclusive Electric Bike Distribution Agreement Metroelectric Plc a leader in the manufacture and distribution of electric bicycles and other electric personal transport, is pleased to announce that it has entered into an initial five year, exclusive agreement with Jinhua Xiongying Electric Vehicle Manufacturer Ltd ("Jinhua") to distribute its electric bikes, trikes and folding bikes in the UK and Eire. Jinhua manufacture a wide range of innovative electric bikes, currently known as eRolling Bikes. The agreement is subject to minimum sales achievement and gives Metroelectric exclusive distribution rights within the territory for all stock manufactured by Jinhua. eRolling Bikes currently have a showroom in the UK and stock available for immediate delivery. Metroelectric will market the range of bikes through their established base of Powabyke dealers. Further information will soon be available on the Company's website. Greg Collier, Chief Executive, Metroelectric, commented: "The range of eRolling bikes will complement our current Powabyke brand and we are excited to now offer a wider variety of electric bikes in a growing market. Each brand has their own unique selling points and the availability of a complete range should benefit Powabyke and eRolling bikes, helping the Company develop its distribution base." The Directors of the Company accept responsibility for this announcement --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance Eran Zucker/Fungai Ndoro Tel: 020 7469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Name Change of Corporate Adviser	11/07/2012	TIDMMETP METROELECTRIC PLC (“Metroelectric” or the “Company”) NAME CHANGE OF CORPORATE ADVISER Metroelectric Plc announces with immediate effect that its PLUS Corporate Adviser has changed its name from Rivington Street Corporate Finance Limited to Peterhouse Corporate Finance Limited (“PCF”). PCF’s new address is 31 Lombard Street, London, EC3V 9BQ. Directors of the Company accept responsibility… Read More TIDMMETP METROELECTRIC PLC ("Metroelectric" or the "Company") NAME CHANGE OF CORPORATE ADVISER Metroelectric Plc announces with immediate effect that its PLUS Corporate Adviser has changed its name from Rivington Street Corporate Finance Limited to Peterhouse Corporate Finance Limited ("PCF"). PCF's new address is 31 Lombard Street, London, EC3V 9BQ. Directors of the Company accept responsibility for the content of this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 0783 018 2501 Peterhouse Corporate Finance Limited Fungai Ndoro / Eran Zucker Tel: 020 7469 0932 Read Less
Holding(s) in Company	03/07/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Holding(s) in Company On 25(th) June 2012, the Company was notified that following an acquisition of shares in the Company, Mayfair International FZC now holds a total of 53,555,817 ordinary shares in Metroelectric PLC representing 8.9% of the issued share capital of the Company. The Directors of the… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Holding(s) in Company On 25(th) June 2012, the Company was notified that following an acquisition of shares in the Company, Mayfair International FZC now holds a total of 53,555,817 ordinary shares in Metroelectric PLC representing 8.9% of the issued share capital of the Company. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 0783 018 2501 Rivington Street Corporate Finance Ltd Eran Zucker/Fungai Ndoro Tel: 0207 469 0934 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Interim Results for Period Ended 31 December 2011	30/04/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) INTERIM RESULTS FOR THE PERIOD ENDED 31(st) DECEMBER 2011 Chairman’s Statement I am pleased to present the interim results for the Company for the period up to 31st December 2011. The steps we have taken to streamline operations, as detailed in my previous statement, have significantly reduced our… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") INTERIM RESULTS FOR THE PERIOD ENDED 31(st) DECEMBER 2011 Chairman's Statement I am pleased to present the interim results for the Company for the period up to 31st December 2011. The steps we have taken to streamline operations, as detailed in my previous statement, have significantly reduced our fixed costs with a minimal effect to our sales capacity. Whilst we still have considerable work ahead of us, the Directors are confident that the business will return to profitability. The warranty issues associated with Powabyke, identified in our last results have been addressed and further product improvements will be introduced to the brand within the next few months. In addition we expect to expand the range of products. Since August 2011, the Company has raised ÂGBP230,000 and received the first payment of an EU grant of ÂGBP85,000. From these proceeds, the Company repaid ÂGBP200,000 of debt, including outstanding interest. In December 2011, the Company announced that it had signed non-binding Heads of Terms with Eveport Limited for a for an exclusive UK licensing agreement. Whilst the agreement has not been finalised, we have been working closely with Eveport Limited and expect to ratify the position in the near future. We are actively seeking international partners to represent the Powabyke brand overseas. Powabykes are now available in Ireland, Sweden, Denmark, Holland and China. The Company's commitment to the emerging electric vehicle market remains strong and we are increasingly convinced that this is a growth sector for both leisure activities and commuting. As such, the Board continues to pursue a number of associated opportunities. I am pleased to report that since the beginning of the year, Powabyke rate of sales are increasing in-line with seasonal expectations. Greg Collier Chairman UNAUDITED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDING 31st DECEMBER 2011 6 months to 6 months to 31/12/2011 31/12/2010 Turnover 130,100 350,252 Cost of sales 128,127 (172,191) Gross profit 1,973 158,061 Administrative expenses (133,021) (156,350) Operating loss (131,048) 1,711 Interest payable and (30,711) (34,432) similar charges Loss on ordinary activities (161,759) (36,143) Profit and loss reserve (1,524,269) (246,842) brought forward Profit and loss reserve (1,686,028) (282,985) UNAUDITED BALANCE SHEET AS AT 31st DECEMBER 2011 As at As at 31/12/2011 31/12/2010 Fixed Assets Intangible assets 445,317 883,962 Tangible assets 8,790 42,275 454,107 926,237 Current Assets Stocks 133,121 202,840 Debtors 160,546 209,207 Cash at bank 759 61,654 294,426 473,701 Creditors - Within one year (599,602) (121,826) Net current assets (305,176) 351,875 Long term liabilities (190,151) (261,000) Net assets/liabilities (41,220) 1,017,112 Capital and reserves Called up share capital 479,511 369,100 Share premium reserve 1,010,586 930,997 Loan note reserve 22,471 - Share option reserve 132,240 - Profit and loss reserve (1,686,028) (282,985) Shareholders' funds (41,220) 1,017,112 The financial information contained in the interim statement has not been reviewed by the Company's auditors and does not constitute statutory accounts. The directors of the Company accept responsibility for the announcement. --ENDS- Enquiries: METROELECTRIC PLC Mark Chapman +44 148 389 4627 RIVINGTON STREET CORPORATE FINANCE Fungai Ndoro/ Eran Zucker +44 207 562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Total voting rights	29/02/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Total Voting Rights In accordance with the FSA’s Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 602,011,405 shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Total Voting Rights In accordance with the FSA's Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 602,011,405 shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in the Company under the FSA's Disclosure and Transparency Rules. The directors of the issuer accept responsibility of this announcement. --ENDS-- Enquiries: Metroelectric Plc +44 078 30 182501 Greg Collier Rivington Street Corporate Finance Ltd +44 020 7562 3373 Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Holding(s) in Company	23/02/2012	TIDMMEPT 23(rd) February 2012 METROELECTRIC PLC (“Metroelectric” or the “Company”) Holding(s) in Company The Company was notified on 23(rd) February 2012 that the entire holding of 25,000,000 ordinary shares and an option over 35,000,000 ordinary shares, exercisable at 0.8 pence per share, owned by Qihang Equipment Limited (formerly China Wonder Limited) (“Qihang”) have been transferred… Read More TIDMMEPT 23(rd) February 2012 METROELECTRIC PLC ("Metroelectric" or the "Company") Holding(s) in Company The Company was notified on 23(rd) February 2012 that the entire holding of 25,000,000 ordinary shares and an option over 35,000,000 ordinary shares, exercisable at 0.8 pence per share, owned by Qihang Equipment Limited (formerly China Wonder Limited) ("Qihang") have been transferred to Wonder Employee Capital Limited ("WECL") in full and final satisfaction of a loan of ÂGBP200,000 received by the Qihang from WECL in 2009. The holding represents 4.15% of the issued share capital of the Company. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Rivington Street Corporate Finance Ltd Fungai Ndoro/ Eran Zucker Tel: 020 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Notice of AGM	10/01/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Notice of AGM Metroelectric plc announces that it has written to shareholders convening the Annual General Meeting (“AGM”) to be held at the offices of Rivington Street Corporate Finance, 3rd Floor, 3 London Wall Buildings, London, EC2M 5SY on 1st February 2012 at 10.30 am. The directors of… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Notice of AGM Metroelectric plc announces that it has written to shareholders convening the Annual General Meeting ("AGM") to be held at the offices of Rivington Street Corporate Finance, 3rd Floor, 3 London Wall Buildings, London, EC2M 5SY on 1st February 2012 at 10.30 am. The directors of the Company accept responsibility for the announcement. --ENDS- Enquiries: Metroelectric Plc Tel: 078 30 182501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Directorate change	06/01/2012	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Directorate Change Metroelectric Plc (the “Company”) announces that Paul Rewrie has stepped down from his position as Director of Metroelectric PLC and its 100% owned subsidiary Powabyke EV Ltd, to focus on a new project he has been offered outside the electric vehicle business. Metroelectric plc and the… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Directorate Change Metroelectric Plc (the "Company") announces that Paul Rewrie has stepped down from his position as Director of Metroelectric PLC and its 100% owned subsidiary Powabyke EV Ltd, to focus on a new project he has been offered outside the electric vehicle business. Metroelectric plc and the management team wish Paul Rewrie success in his new role. The Directors of the Company accept responsibility for this announcement. --ENDS-- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Tel: 020 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Final Results	03/01/2012	TIDMMEPT Metroelectric Plc : Final Results Chairman’s Statement for the year ended 30 June 2011 INTRODUCTION The Board is pleased to present the results of Metroelectric plc (“the Company”) for the year ended 30(th) June 2011. The Company was established by the Directors as a PLUS Markets Investment Vehicle initially seeking acquisition targets in the… Read More TIDMMEPT Metroelectric Plc : Final Results Chairman's Statement for the year ended 30 June 2011 INTRODUCTION The Board is pleased to present the results of Metroelectric plc ("the Company") for the year ended 30(th) June 2011. The Company was established by the Directors as a PLUS Markets Investment Vehicle initially seeking acquisition targets in the information sector. In 2009 the company purchased Powabyke EV Limited and the trading group is now a supplier and distributor of electric vehicles. RESULTS The Company made a loss for the year to 30 June 2011 of ÂGBP1,277,427 (2010: ÂGBP51,018) The loss per ordinary share for the year was 0.342p (2010: 0.017p) REVIEW The year to 30th June 2011 was a difficult trading period for Powabyke EV, mainly due to problems with the supply chain and cost and quality issues with a former supplier. These problems resulted in a high level of returns and products which could not be resold resulting in stock having to be written off. These issues contributed to a significant decrease in margins, which have resulted in a negative gross margin and an operating loss before impairment charges of ÂGBP648,861 (2010: ÂGBP27,732). Due to the underperformance of Powabyke EV Ltd the directors have reviewed the goodwill in the consolidated accounts which relates to the on-going value of its investment in its trading subsidiary. Although significant losses were incurred during the year the positive cash and profit projections of Powabyke for 2012 indicate that it still has a positive value. The directors have decided that the carrying value of goodwill should be written down to reflect the reduced value of its investment in Powabyke and this has resulted in a goodwill impairment charge of ÂGBP432,696 in the annual accounts. In August 2010 we successfully introduced the new Mk2 range of X-Byke's. The aesthetic and technical improvements of these bikes are significant as they offer both increased performance and greater reliability. In February 2011, we reintroduced the Powatryke (our electric tricycle) which has made significant inroads into the tricycle market. In July 2010 we announced a distribution agreement with Wonder EV to distribute its electric cars in the UK and Eire. The Directors continue to believe that Powabyke provides the Company with a unique opportunity to build a major presence in the European electric bicycles and tricycles market. We continue to actively seek international partners to represent the Powabyke brand overseas. POST BALANCE SHEET EVENTS As a result of difficult market conditions and on-going supply issues during the period, the Company has taken significant steps to streamline its operations, including reducing both management and staff numbers, combining the warehouse into the office and renegotiating more favourable terms with suppliers. The financial benefits from our product development are not reflected in these figures but the Directors believe that the Company is now well positioned moving forward and we expect our gross margin to improve. The Company's commitment to the emerging electric vehicle market remains strong and we are increasingly convinced that this is a growth sector for both leisure activities and commuting. As such, the Board continues to pursue a number of associated opportunities. Since August 2011 the company has raised ÂGBP230,000 and received the first payment from the EU grant (ÂGBP85,000). From these proceeds the company repaid ÂGBP200,000 of debt, including outstanding interest, and has agreement from the convertible term loan holders to extend the period of repayment. In December 2011, the company announced that it had signed non binding heads of terms concerning a UK licence agreement with Eveport Limited, which would allow the Directors to concentrate on looking for new opportunities within the eco- friendly area and also develop the international Powabyke market. The company will receive a licence fee and ongoing royalty payments but will not incur any of the related selling or marketing costs, this will result in cost savings for the group and increased profitability. Greg Collier Chairman Metroelectric plc 31 December 2011 CONSOLIDATED PROFIT AND LOSS ACCOUNT for the year ended 30 June 2011 2011 2010 ÂGBP ÂGBP Turnover 613,127 404,778 Cost of sales (630,937) (197,117) --------------- ------------ Gross profit/(loss) (17,810) 207,661 EU grant income 13,189 97,560 Distribution costs - (6,144) Administrative expenses (644,240) (324,034) Loss on disposal of fixed assets - (2,775) Impairment of goodwill (432,396) - --------------- ------------ Operating loss (1,081,257) (27,732) Interest payable and similar charges (196,170) (23,286) --------------- ------------ Loss on ordinary activities before taxation (1,277,427) (51,018) Tax on loss on ordinary activities - --------------- ------------ Loss for the year (1,277,427) (51,018) --------------- ------------ Earnings per share (pence) * Basic and diluted earnings per share (0.342)p (0.017)p The consolidated profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the consolidated profit and loss account. The Company has elected to take the exemption under section 408 of the Companies Act 2006 to not present the Parent Company profit and loss account. The loss for the Parent Company for the period was ÂGBP1,344,606 (2010: ÂGBP79,372). CONSOLIDATED BALANCE SHEET as at 30 June 2011 . 2011 2010 ÂGBP ÂGBP Fixed assets Goodwill 443,917 887,313 Other intangible fixed assets 16,264 6,700 Tangible assets - 6,230 -------------- ------------ 460,181 900,243 Current assets Stocks 115,875 179,325 Debtors 352,945 305,925 Cash at bank and in hand 15,098 47,932 -------------- ------------ 483,918 533,182 Creditors: Amounts falling due within one year (733,409) (209,170) -------------- ------------ Net current assets/(liabilities) (249,491) 324,012 Creditors greater than one year: Convertible loan notes (190,151) (171,000) -------------- ------------ Net assets/(liabilities) 20,539 1,053,255 -------------- ------------ Capital and reserves Called up share capital 379,511 369,100 Share premium 1,010,586 930,997 Loan note holders reserve 22,471 - Share option reserve 132,240 - Profit and loss account (1,524,269) (246,842) -------------- ------------ Shareholders' funds/(deficit) 20,539 1,053,255 -------------- ------------ The financial statements were approved by the Board of Directors on 31 December 2011 and were signed on its behalf by: P Rewrie Director Company registration number - 05840813 (England and Wales) NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2011 The Directors do not proposed to pay a dividend for the period. The financial information contained in this announcement has been extracted from the Company's audited accounts GOING CONCERN The financial statements have been prepared on a going concern basis, notwithstanding the trading losses incurred since incorporation. The Group meets its day to day financing through its cash reserves and shareholders' loans. As at 30 June 2011 the Group has a total of ÂGBP15,098 in cash reserves. However, its Creditors less than one year are ÂGBP733,409 and it has net current liabilities of ÂGBP249,491. Since the year end, an additional ÂGBP230,000 has been raised through a mixture of short term unsecured loans and additional equity. In addition, just over ÂGBP200,000 of the short term funding including interest has been repaid since the year end and it has agreement from the convertible loan note holders to extend the period of repayment. (MORE TO FOLLOW) Dow Jones Newswires January 03, 2012 04:48 ET (09:48 GMT) The Directors have prepared cash flow forecasts for the period to 31 December 2012 which assumes increased sales and no unnecessary costs or expenditure. On the basis of these forecasts and the additional funding detailed in the preceding paragraph the Group is expected to continue to operate within its available financial facilities for at least the next 12 months. The going concern basis is dependent upon the company meeting its forecasts for 2012 and if it does not meet these forecasts further finance will need to be raised which may not be forthcoming. The forecasts assume a certain level of trading which independent of the Eveport licence arrangement. Whilst the Directors remain confident of continuing as a going concern, this is dependent on their ability to renew short term finance facilities and to operate with their budget and there can be no certainty in this respect. Nevertheless, after making due and careful enquiries and considering all uncertainties the Directors believe the company will continue in operational existence for the foreseeable future. For this reason the Directors continue to adopt the going concern basis in preparing the annual report and financial statements. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate. --END- The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier +44 78 30 182501 Rivington Street Corporate Finance Ltd Eran Zucker +44 20 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Shareholder Notification	15/12/2011	TIDMMEPT 15(th) December 2011 METROELECTRIC PLC (“Metroelectric” or the “Company”) Shareholder Notification The Company was notified that on 14(th) December 2011, Bridge Hall Stockbrokers Ltd acquired shares in Metroelectric PLC and now holds 50,000,000 ordinary shares representing 10.43% of the issued share capital of the Company. The Directors of the Company accept responsibility for this… Read More TIDMMEPT 15(th) December 2011 METROELECTRIC PLC ("Metroelectric" or the "Company") Shareholder Notification The Company was notified that on 14(th) December 2011, Bridge Hall Stockbrokers Ltd acquired shares in Metroelectric PLC and now holds 50,000,000 ordinary shares representing 10.43% of the issued share capital of the Company. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier +44 78 30 182501 Rivington Street Corporate Finance Ltd Eran Zucker +44 20 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Notice of Loan Receipt	08/12/2011	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Notice of Loan Receipt The Company announces that it has today received a ÂGBP106,000 loan from Pictou Limited repayable in March 2012 and secured over the assets of the Company. The interest payable on this loan is 6% for the period. The Directors of the Company accept responsibility… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Notice of Loan Receipt The Company announces that it has today received a ÂGBP106,000 loan from Pictou Limited repayable in March 2012 and secured over the assets of the Company. The interest payable on this loan is 6% for the period. The Directors of the Company accept responsibility for the announcement. --ENDS- Enquiries: Metroelectric Plc Greg Collier +44 78 30 182501 Rivington Street Corporate Finance Ltd Eran Zucker +44 20 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Total voting rights	01/12/2011	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Total Voting Rights In accordance with the FSA’s Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 479,511,405 shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Total Voting Rights In accordance with the FSA's Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 479,511,405 shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in the Company under the FSA's Disclosure and Transparency Rules. The directors of the issuer accept responsibility of this announcement. --ENDS-- Enquiries: Metroelectric Plc +44 078 30 182501 Greg Collier Rivington Street Corporate Finance Ltd +44 020 7562 3373 Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Issue af Equity and Heads of Terms	01/12/2011	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Issue of Equity and Heads of Terms Metroelectric is pleased to announce that the Company has raised ÂGBP100,000 for working capital purposes, by way of a subscription for 100,000,000 new ordinary shares at a price of 0.1p pence per share to new and existing investors. In addition the… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Issue of Equity and Heads of Terms Metroelectric is pleased to announce that the Company has raised ÂGBP100,000 for working capital purposes, by way of a subscription for 100,000,000 new ordinary shares at a price of 0.1p pence per share to new and existing investors. In addition the Company has agreed heads of terms for an exclusive UK licensing agreement with Eveport Limited for all of Powabyke's products. The agreement, if signed, will give Eveport an exclusive license in the UK for a period of 5 years with the right to extend this period and covers all IP and products. The Company will announce details of the agreement once the final terms have been agreed. Following the issue of the shares above, Metroelectric has a total of Â· ordinary shares in issue. The directors of the Company accept responsibility for the announcement. --ENDS- Enquiries: Metroelectric Plc Greg Collier +44 78 30 182501 Rivington Street Corporate Finance Ltd Eran Zucker +44 20 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Unaudited Final Results	30/11/2011	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) UNAUDITED RESULTS FOR THE TWELVE MONTH PERIOD ENDED 30th JUNE 2011 Chairman’s Statement I am pleased to present the final results for the Company up to 30(th) June 2011. During this period we successfully introduced the new Mk2 range of X-Byke’s. The aesthetic and technical improvements are significant… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") UNAUDITED RESULTS FOR THE TWELVE MONTH PERIOD ENDED 30th JUNE 2011 Chairman's Statement I am pleased to present the final results for the Company up to 30(th) June 2011. During this period we successfully introduced the new Mk2 range of X-Byke's. The aesthetic and technical improvements are significant in terms of performance and reliability. In February we reintroduced the Powatryke (our electric tricycle). Post Balance Sheet Events As a result of difficult market conditions and ongoing supply issues during the period, the Company has made significant steps to streamline its operations, including management changes, combining the office and the warehouse of the Company, and the renegotiating of terms with suppliers. In July 2010 we announced a distribution agreement with Wonder EV to distribute its electric cars in the UK and Eire. Unfortunately we still await delivery of the first cars due to be supplied as part of this deal. The Directors continue to believe that Powabyke provides the Company with a unique opportunity to build a major presence in the European electric bicycles and tricycles market. We continue to actively seek international partners to represent the Powabyke brand overseas. The financial benefits from our product development are not reflected in these figures but the Directors believe that the Company is now well positioned moving forward and we expect our gross margin to improve. The Company's commitment to the emerging electric vehicle market remains strong and we are increasingly convinced that this is a growth sector for both leisure activities and commuting. As such, the Board continues to pursue a number of associated opportunities. Greg Collier Chairman METROELECTRIC PLC Metroelectric PLC Unaudited Profit and Loss Account for the Year Ended 30 June 2011 2011 2010 ÂGBP Turnover 696,460 404,778 Cost of sales (503,579) (197,117) Gross profit/(loss) 192,881 207,661 Administrative expenses (459,210) (330,178) EU Grant Income 97,560 Loss on disposal of Assets (2,775) Operating profit/(loss) (266,329) (27,732) Interest payable and similar charges (97,156) (23,286) Profit/(loss) on ordinary activities before (363,485) (51,018) taxation Profit/(loss) for the financial year (363,485) (51,018) Earnings per share (0.00095) (0.017) Metroelectric PLC Unaudited Balance Sheet as at 30(th) June 2011 2011 2009 Note ÂGBP ÂGBP ÂGBP ÂGBP Fixed assets Intangible assets 3 872,749 887,313 Tangible assets 4 11,380 12,930 884,129 900,243 Current assets Stocks 143,855 179,325 Debtors 5 393,831 305,925 Cash at bank and in hand 5,718 47,932 543,404 533,182 Creditors: Amounts falling 6 (447,372) (209,170) due within one year Net current 96,032 324,012 assets/(liabilities) Total assets less current 980,161 576,231 liabilities Creditors: Amounts falling 7 (201,000) (171,000) due after more than one year Net assets/(liabilities) 779,161 1,053,255 Capital and reserves Called up share capital 379,511 369,100 Share premium reserve 8 1,009,977 930,997 Profit and loss reserve 8 (610,327) (246,842) Shareholders' 779,161 1,053,255 funds/(deficit) 1 Accounting policies Basis of preparation Basis of accounting The report has been prepared using accounting policies that the Group and its subsidiary undertaking have adopted and were used for the accounting period o 30th June 2011. The information does not constitute statutory accounts within the meaning of section 435 of the Companies Act 2006. The financial statements are prepared under the historical cost convention. Turnover Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Amortisation Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows: Depreciation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Plant and machinery 25% straight line basis Fixtures and fittings 25% straight line basis Goodwill Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities. Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable. Stock Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Financial instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The Final Results has not been audited and the financial information contained in these results has not been agreed with an auditor. The Directors do not propose to pay a dividend for the year ended 30 June 2011. --ENDS- Enquiries: METROELECTRIC PLC Greg Collier +44 78 3018 2501 RIVINGTON STREET CORPORATE FINANCE Eran Zucker +44 20 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re New Distribution Agreement	17/09/2011	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) New Distribution Agreement Metroelectric is pleased to announce that Powabyke EV Ltd, its wholly owned subsidiary has signed a distribution agreement with ‘Powabyke Denmark’, which was set up as part of Powabyke’s expansion into other European territories. The agreement will run for a minimum of one year and… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") New Distribution Agreement Metroelectric is pleased to announce that Powabyke EV Ltd, its wholly owned subsidiary has signed a distribution agreement with 'Powabyke Denmark', which was set up as part of Powabyke's expansion into other European territories. The agreement will run for a minimum of one year and gives Powabyke Denmark exclusive distribution rights within Denmark. The agreement is renewable annually subject to achieving minimum sales agreed. Cycling has long been a national pastime for Denmark and the country boasts some 10,000 km of scenic cycle routes. With this in mind there are ambitious sales targets for the brand of electric battery powered bicycles in the region. Thomas Justesen, a Copenhagen-based businessman will oversee Powabyke Denmark stated: "The electric cycle market in Denmark is growing fast. I believe that Powabyke Denmark will be able to achieve a substantial market share within a few years as the well-designed X-byke range will be welcomed by Danish customers. This target will be reached by progressive sales and marketing efforts." Powabyke's Managing Director Nick Child remarked: "We have been in discussions with Thomas for a few months now and his organisation impressed us and certainly has the ability to distribute the new Mk2 Powabyke range into the expanding Danish Market. On the launch of Powabyke's Mk2 X-byke range, the widening distribution of the brand is perfect timing. We are very pleased that the Powabyke X-byke was chosen as a suitable product for the demanding and design conscious Danish market. We have already started shipping product for 2011. The Scandinavian markets are an important part of our export strategy for this year and with distribution in Sweden already underway and now Denmark, we are pleased with the progress." The directors of the Company accept responsibility for the announcement. --ENDS- Enquiries: Metroelectric Plc Tel: 078 30 182501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 end_of_the_skype_highlighting Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE [HUG#1480292] Read Less
Statement re New Distribution Agreement	13/04/2011	TIDMMEPT 13/04/11 New Distribution Agreement Metroelectric (the “Company”) is pleased to announce that Powabyke EV Ltd. its wholly owned subsidiary has signed a distribution agreement with Elmonet B.V. to represent Powabyke throughout the Netherlands. The agreement will run for a minimum of one year and gives Elmonet B.V. exclusive distribution rights within the Netherlands. The… Read More TIDMMEPT 13/04/11 New Distribution Agreement Metroelectric (the "Company") is pleased to announce that Powabyke EV Ltd. its wholly owned subsidiary has signed a distribution agreement with Elmonet B.V. to represent Powabyke throughout the Netherlands. The agreement will run for a minimum of one year and gives Elmonet B.V. exclusive distribution rights within the Netherlands. The agreement is renewable annually subject to achieving minimum agreed sales. Elmonet distributes a range of electric vehicles in the Netherlands including cars, vans, scooters and now with the new partnership with Powabyke, electric bikes. Powabyke MD, Nick Child commented: "Elmonet have put a lot of thought into their approach and strategy for selling Powabykes and for maintaining the reputation of the brand which we have established over a long period of time. The Netherlands is the perfect territory for e-bikes to thrive in . Elmonet is part of the 1bn euro Autobink group and we are both impressed with their operation and flattered that they chose the Powabyke range of e-bike to distribute" "When Powabykes begin to appear on the streets in the country they will get noticed and I have every reason to believe that Elmonet will go from success to sucess with every order." Richard Knoop, General Manager of Elmonet B.V. commented on the new partnership: "If you look at the current Dutch market we are selling 150,000 electric bikes a year in the Netherlands and so the number has increased to a huge degree in the last few years. Whilst the Netherlands is a small country, in cities, working locations are close together so that offers the opportunity to use the electric bike for travelling to work, across town and for getting back home. Powabyke has proven itself in the last ten years and the bikes are reliable, look stylish, competitive, and you can change the parts between different models, so in terms of after sales the product is very simple and cost effective." The company continues to search for new opportunities for overseas distribution. The directors of the Company accept responsibility for the announcement --ENDS-- Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker - ENDS - About Elmonet ELMONET stands for Electric Mobility Netherlands and is located in Amsterdam Zuidoost (www.elmonet.nl) ELMONET has specialised in electric mobility since 2009 Elmonet is 100% owned by Autobinck Holding N.V. AutoBinck is a leading player in the European automotive market. With annual sales of 1 bn Euros through 40 operating companies with 1,700 employees working in seven countries in Benelux and Central Europe, AutoBinck offers a full service and funding capability to many of the automotive industry's leading brands. (www.autobinck.com) This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Holding(s) in Company	07/04/2011	TIDMMEPT METROELECTRIC PLC Holding in Company Metroelectric Plc (the “Company”), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, was notified that following a recent sale of shares in the Company, Bridge Hall Stockbrokers Limited (“Bridge Hall”) no longer has a notifiable interest in the Company. =-ENDS– The Directors of the… Read More TIDMMEPT METROELECTRIC PLC Holding in Company Metroelectric Plc (the "Company"), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, was notified that following a recent sale of shares in the Company, Bridge Hall Stockbrokers Limited ("Bridge Hall") no longer has a notifiable interest in the Company. =-ENDS-- The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re New Distribution Agreement	05/04/2011	TIDMMEPT 05/04/11 Metroelectric Plc (“Metroelectric” or the “Company”) New Distribution Agreement Metroelectric is pleased to announce that Powabyke EV Ltd (“Powabyke”) its wholly owned subsidiary has signed a distribution agreement with The Brandsco Plc to represent Powabyke in the United States of America (“USA”). The agreement will run for an initial period of fifteen years… Read More TIDMMEPT 05/04/11 Metroelectric Plc ("Metroelectric" or the "Company") New Distribution Agreement Metroelectric is pleased to announce that Powabyke EV Ltd ("Powabyke") its wholly owned subsidiary has signed a distribution agreement with The Brandsco Plc to represent Powabyke in the United States of America ("USA"). The agreement will run for an initial period of fifteen years and gives The Brandsco Plc exclusive distribution rights within the USA. The agreement includes an immediate, up front exclusivity fee of ÂGBP100,000 for the rights. The agreement is subject to The Brandsco Plc achieving minimum agreed sales. Marcus Cassidy, the CEO of The Brandsco Plc commented, "Extensive research has convinced us that Powabyke will be well received in the USA. We are delighted to represent the Powabyke brand and the new Xbyke clearly represents exceptional value for money. Powabyke will stand out amongst the current electric bike offerings and we intend to emphasise the British theme by introducing the Union Flag to the branding." Powabyke are well established in the UK with a network of approximately 400 dealers and over 30,000 electric bikes sold. Greg Collier, Metroelectric Chairman said, "It is encouraging that The Brandsco Plc a company that the Directors believe has presented the strength of their international marketing connections in both the UK an the USA, has committed a substantial premium to back their confidence in Powabyke." Nick Child, Powabyke MD said of the partnership, "We are delighted to secure such a key territory for Powabyke. Last year we presented at the Las Vegas Show and the American public and trade loved our new Xbykes. Electric bikes are increasing in popularity worldwide, particularly in USA, as oil prices continue to rise and people look at alternative means of transport. There is a massive opportunity for Powabyke in the USA and we are confident The Brandsco Plc will achieve success there." The directors of the Company accept responsibility for the announcement --ENDS-- Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Half-yearly report	31/03/2011	TIDMMEPT METROELECTRIC PLC INTERIM RESULTS FOR THE PERIOD ENDED 31st DECEMBER 2010 Chairman’s Statement I am pleased to present the interim results for the Company up to 31st December 2010. During this period we successfully introduced the new Mk2 range of X-Bykes. The aesthetic and technical improvements are significant in terms of performance and reliability…. Read More TIDMMEPT METROELECTRIC PLC INTERIM RESULTS FOR THE PERIOD ENDED 31st DECEMBER 2010 Chairman's Statement I am pleased to present the interim results for the Company up to 31st December 2010. During this period we successfully introduced the new Mk2 range of X-Bykes. The aesthetic and technical improvements are significant in terms of performance and reliability. The bikes are receiving good reviews from our trade customers along with valuable PR from the UK press. Due to the seasonal timing of the launch, the financial benefits are not reflected in these figures but we are now well positioned moving forward and our gross margin is expected to improve significantly going forward. December saw the launch of our online accessories store 'Powashop'. Dealers and end users are now able to purchase parts at advantageous prices with next day delivery. This new 24/7 facility has been well received - with the added benefits to the Company of increased margins, instant payment and reduced overheads. We continue to actively seek international partners to represent the Powabyke brand in new markets. Powabykes are now being distributed in Ireland, Sweden, Denmark and China with further deals to be announced soon. In July 2010 we signed an agreement with Wonder EV Company to distribute its electric cars in the UK and the Republic of Ireland. Wonder EV Company is part of China based Wonder Group, which through its subsidiary, the AIM listed China Wonder, is a significant shareholder in Metroelectric. Technical refinements have delayed the arrival of the cars but we eagerly anticipate their arrival within the first half of this year. The Company remains committed to the emerging electric vehicle market and are pursuing a number of associated opportunities. Further announcements are expected soon. Greg Collier Chairman METROELECTRIC PLC Consolidated Profit and Loss Account for the 6 months Period ended 31 December 2010 Unaudited for the 6 months ended Unaudited for the 6 31 December 2010 months ended 31 ÂGBP December 2009 ÂGBP Turnover 350,252 49,963 Cost of sales (172,191) (31,899) ----------- ----------- Gross profit/(loss) 158.061 18,064 Administrative expenses (156,350) (44,638) ----------- ----------- ----------- ----------- Operating loss 1,711 (26,574) Interest payable and (34,432) (2,168 ) similar charges ----------- ----------- Loss on ordinary (36,143) (28,742) activities before taxation ----------- ----------- Loss for the financial (36,143) (28,742) period Profit and loss reserve (246,842) (195,824) brought forward ----------- ----------- Profit and loss reserve (282,985) (224,566) carried forward The profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the profit and loss account Consolidated Balance Sheet as at 31 December 2010 Unaudited as at 31 December Unaudited as at 31 December 2010 2009 ÂGBP ÂGBP ÂGBP ÂGBP Fixed assets Intangible assets 883,962 935,820 Tangible assets 42,275 7,780 ------------ ----------- 926,237 943,600 Current assets Stocks 202,840 94,749 Debtors 209,207 278,305 Cash at bank and in 61,654 16,598 hand ----------- ----------- 473,701 389,652 Creditors: Amounts (121,826) (266,721) falling due within one year ----------- ----------- Net current 351,875 122,931 assets/(liabilities) ------------ ----------- Long term (0 ) liabilities (261,000) ----------- ---- Net 1,017,112 1,066,531 assets/(liabilities) Capital and reserves Called up share 369,100 360,100 capital Share premium 930,997 930,997 reserve Profit and loss (282,985) (224,566) reserve ------------ ----------- Shareholders' 1,017,112 1,066,531 funds/(deficit) The directors of the Company accept responsibility for the announcement. --ENDS-- Metroelectric PLC Greg Collier Tel: 07830 182501 Rivington Street Corporate Finance Eran Zucker Tel: 020 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Total voting rights	28/02/2011	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Total Voting Rights In accordance with the FSA’s Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 379,511,405 shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Total Voting Rights In accordance with the FSA's Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 379,511,405 shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in the Company under the FSA's Disclosure and Transparency Rules. The directors of the issuer accept responsibility of this announcement. --ENDS-- Enquiries: Metroelectric Plc Tel: 078 30 182501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Result of AGM	16/02/2011	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Result of AGM The Board of Metroelectric Plc is pleased to announce that at the Company’s General Meeting held earlier today, all the resolutions were duly passed. The directors of the Company accept responsibility for the announcement. –ENDS- Enquiries: Metroelectric Plc Tel: 078 30 182501 Greg Collier Rivington… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Result of AGM The Board of Metroelectric Plc is pleased to announce that at the Company's General Meeting held earlier today, all the resolutions were duly passed. The directors of the Company accept responsibility for the announcement. --ENDS- Enquiries: Metroelectric Plc Tel: 078 30 182501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 end_of_the_skype_highlighting Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re Subscription	04/02/2011	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) Subscription Metroelectric is pleased to announce that, on 3rd February 2011, following further demand from institutional investors, the Company has raised an additional ÂGBP80,000 for working capital purposes, by way of a subscription for 9,411,765 new ordinary shares at a price of 0.85p pence per share. Simultaneously, investors… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") Subscription Metroelectric is pleased to announce that, on 3rd February 2011, following further demand from institutional investors, the Company has raised an additional ÂGBP80,000 for working capital purposes, by way of a subscription for 9,411,765 new ordinary shares at a price of 0.85p pence per share. Simultaneously, investors have been issued with a warrant to subscribe for one new ordinary share of 0.1p each for every share subscribed for, exercisable any point up to December 2012 at an exercise price at 0.85p Greg Collier, chairman of Metroelectric Plc commented; "We are absolutely delighted by the support we continue to receive from quality professional and institutional investors. With our increased cash resources resulting from this subsrdcription, we will be able to further accelerate our previously stated growth plans. Over the last nine months, our Powabyke business has announced major moves into markets as diverse as China, Denmark, Ireland and Sweden, as demand for its new mark-2 xbyke continues to accelerate. Shareholders can look forward to further expansion news at Powabyke over the next few months following this capital raise". Following the issue of the shares above, Metroelectric has a total of 379,511,405 ordinary shares in issue. The directors of the Company accept responsibility for the announcement. --ENDS- Enquiries: Metroelectric Plc Tel: 078 30 182501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE [HUG#1485332] Read Less
Statement re Audited Results for the Period ended 30th June 2010	17/01/2011	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) AUDITED RESULTS FOR THE PERIOD ENDED 30th JUNE 2010 On 30 November 2010 the Company issued an announcement outlining its unaudited results for the year ended 30th June 2010. The auditors have now completed and signed off the year end accounts and the Company has made the following… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") AUDITED RESULTS FOR THE PERIOD ENDED 30th JUNE 2010 On 30 November 2010 the Company issued an announcement outlining its unaudited results for the year ended 30th June 2010. The auditors have now completed and signed off the year end accounts and the Company has made the following two adjustments. The first adjustment is to write down the goodwill of the Company over a 20 year period and the second is to make a provision against the EU grant as it is receivable after 30 June 2011 and the proportion provided for is contingent on the completion of the project. Neither adjustment has affected the operating profit of Powabyke EV Limited. However, the adjusted net loss disclosed in the audited accounts is now ÂGBP51,018 vs a profit ÂGBP20,555 reported in the unaudited results statement. AUDITED RESULTS FOR THE PERIOD ENDED 30th JUNE 2010 Chairman's Statement The Board is pleased to present the audited Final Results for Metroelectric Plc ("the Company"), for the year ended 30th June 2010. The Company was established by the Directors as a PLUS Markets Investment vehicle initially seeking acquisition targets in the information sector. The Company continues to look for areas to invest or trade in the 'eco-friendly' products and technologies sector, being a continued area of growth in accordance with the change in scope of business made in 2007. The Company Loss of (ÂGBP51,018 )after amortisation of goodwill (ÂGBP56,735 loss: 2009).The loss per ordinary share amounted to (0.017p) in the period (0.32p loss: 2009) REVIEW This accounting period covered our recent acquisition of Powabyke Acquisition Limited ('Powabyke'), owner of one of the UK's leading electric powered bicycle businesses, for approximately ÂGBP1 million. The associated costs of the transaction have been accounted for within these results. Powabyke is an established business and its acquisition has made a positive contribution enabling the group to nearly break even before finance costs and amortisation of goodwill. After overcoming initial supply problems with existing suppliers, I am very pleased to confirm that our new mark-2 xbyke, which we introduced in September, has been extremely well received by the trade. We have introduced major aesthetic improvements to the design and managed to keep the suggested retail price (SRP) unchanged. We are currently busy re-stocking dealers with sample stock, giving us good store presence which will allow us to benefit from the seasonal uplift in the New Year. In April we announced that Powabyke Sverige AB had signed an exclusive distribution agreement to represent our brand in Sweden. We expect to make further announcements relating to other overseas territories in the near future. Powabyke sales and development of the Powabyke brand are our priority. In July we announced that we entered into an initial three year exclusive, agreement with Wonder EV Company to distribute its electric cars in the UK and the Republic of Ireland (Eire). Wonder EV Company is part of China based Wonder Group which through its subsidiary, the AIM listed China Wonder, is a significant shareholder in Metroelectric. We are looking forward to taking delivery of the first cars in the early part of 2011. We are also in advanced negotiations with other electric vehicle (EV) manufacturers to represent them in the UK. 2011 will see significant growth in the EV sector and we are strategically placed to benefit from this emerging market. Greg Collier Chairman Metroelectric PLC audited Profit and Loss Account for the Year Ended 30 June 2010 Year Ended June Year Ended June 2010 2009 ÂGBP ÂGBP Turnover 404.778 - Cost of sales (197,117) (262) Gross profit/(loss) 207,661 (262) Administrative expenses (324,034) (56,473) Distribution expenses (6,144) 0 EU Income 97,560 Loss on Sale of Fixed asset (2,775) Operating profit/(loss) (27,232) (56,735) Interest payable and similar charges (23,286) - Profit/(loss) on ordinary activities before (51,018) (56,735) taxation Profit/(loss) for the financial year (51,018) (56,735) Earnings per share (pence) Basic and diluted earnings per share (0.017)p (0.032)p The consolidated profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the consolidated profit and loss account. The Company has elected to take the exemption under section 408 of the Companies Act 2006 to not present the Parent Company profit and loss The loss for the Parent Company for the period was ÂGBP79,372 (2008: ÂGBP54,514). Metroelectric PLC audited Balance Sheet as at 30th June 2010 30 June 2010 30 June 2009 ÂGBP ÂGBP ÂGBP ÂGBP Fixed assets Goodwill 887,313 Other intangible fixed 6,700 - assets Tangible assets 6,230 2,775 900,243 2,775 Current assets Stocks 179.325 15,983 Debtors 305,925 5,627 Cash at bank and in 47,932 4,955 hand 533,182 26,565 Creditors: Amounts (209,170) (30,164) falling due within one year Net current 342,012 (3,599) assets/(liabilities) Total assets less 1,242,255 (824) current liabilities Creditors: Amounts (171,000) - falling due after more than one year Net 1,053,255 (824) assets/(liabilities) Capital and reserves Called up share capital 369,100 195,000 Share premium reserve 930,997 - Profit and loss reserve (246,842) (195,824) Shareholders' 1,053,255 (824) funds/(deficit) Earnings per share (0.017) (0.0028) These Final Results have been audited by the Company's auditor. The Directors do not propose to pay a dividend for the year ended 30 June 2010. The directors of the issuer accept responsibility for this announcement. --ENDS- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Tel: 020 7562 3373 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Statement re New Distribution Agreement	13/12/2010	TIDMMEPT 13/12/10 Metroelectric Plc (“Metroelectric”) New Distribution Agreement Metroelectric is pleased to announce that Powabyke EV Ltd. its wholly owned subsidiary has signed a distribution agreement with Green Machines, the largest distributor of zero-emission electric vehicles in Ireland. The agreement will run for a minimum of one year and gives Green Machines exclusive distribution rights… Read More TIDMMEPT 13/12/10 Metroelectric Plc ("Metroelectric") New Distribution Agreement Metroelectric is pleased to announce that Powabyke EV Ltd. its wholly owned subsidiary has signed a distribution agreement with Green Machines, the largest distributor of zero-emission electric vehicles in Ireland. The agreement will run for a minimum of one year and gives Green Machines exclusive distribution rights within Southern Ireland. The agreement is renewable annually subject to achieving minimum sales agreed. Robert Nolan, MD of Green Machines commented: "Green Machines are delighted to become the exclusive distributor for Powabyke in Ireland. We have always tried to bring the best electric vehicle technology to the Irish market and we believe that Powabyke's reputation makes them the best electric bike manufacturer in their class. We are proud to be able to include Powabyke in our range of world- class electric vehicles." Powabyke are well established in the UK with a network of approximately 400 dealers and over 30,000 e-bikes sold. The company is looking for distribution options throughout Europe and internationally to continue growth. Green Machines' alliance with Powabyke means that the electric bikes will now be widely available in Ireland. Nick Child, Powabyke Managing Director commented on the partnership, "I am delighted that Green Machines have chosen to distribute the new range of X-Bykes in Ireland, which is an important market for us." "We have already shipped products to Ireland and Robert and his team are busy building up a reputable dealer network. We are confident that they can properly market our products with their comprehensive after-sales dealer support team." In addition, as announced on 3 December 2010, the Company approved the grant of 30,000,000 share options, to certain directors and employees on 30 November 2010. Following the price appreciation of Metroelectric shares since the grant of these options, the Directors feel it necessary to review the terms of these Options. The Company will inform the market of the amended terms as soon as practically possible. The directors of the Company accept responsibility for the announcement. --ENDS-- Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE [HUG#1471811] Read Less
Statement re New Distribution Agreement and Granting of Share Options	03/12/2010	TIDMMEPT Metroelectric Plc (‘Metroelectric’ or ‘the Company’) New Distribution Agreement and Granting of Share Options Metroelectric is pleased to announce that Powabyke EV Ltd., its wholly owned subsidiary has signed an exclusive distribution agreement with Jinzhou Wonder EV Tech Co. Ltd, for the License to manufacture and sell the Company’s electric bicycles throughout the People’s… Read More TIDMMEPT Metroelectric Plc ('Metroelectric' or 'the Company') New Distribution Agreement and Granting of Share Options Metroelectric is pleased to announce that Powabyke EV Ltd., its wholly owned subsidiary has signed an exclusive distribution agreement with Jinzhou Wonder EV Tech Co. Ltd, for the License to manufacture and sell the Company's electric bicycles throughout the People's Republic of China (excluding the Shanghai Province). The agreement can be terminated by either party giving six months written notice. Jinzhou Wonder EV Tech Co Ltd is a member of The Wonder Group of Companies. Greg Collier commented:"'To have the Powabyke brand represented in a country with an expanding economy and a population of 1.4 billion, which is so closely associated with cycling, is an exciting proposition. The Wonder Group is well resourced and we are confident that together we will successfully develop the Chinese market. We also believe that the agreement will indirectly help protect us from any future copyright infringement in the region." Metroelectric is actively seeking further international partners to represent the Powabyke brand worldwide. Additionally, on 30 November the Board approved the grant of share options to certain directors and employees of the Company. Share options have been granted over 30,000,000 Ordinary Shares at an exercise price of 0.5 pence per share ("Options"), exercisable for up to five years from the vesting start date. 25% of the Options shall vest at the end of each quarter of employment such that all Options shall be vested one year after the date of grant. The allocation of Options to directors is as follows: Number of Options Issued and Held Mr Greg Collier Director 10,000,000 Mr Paul Rewrie Director 10,000,000 Mr Mark Chapman Director 5,000,000 Mr Nick Child Director* 5,000,000 *Nick Child is Managing Director of Powabyke EV Ltd (wholly owned subsidiary of Metroelectric). The directors of the Company accept responsibility for the announcement. --ENDS-- Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker [HUG#1468699] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE (END) Dow Jones Newswires Read Less
Final Results	30/11/2010	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or the “Company”) UNAUDITED RESULTS FOR THE PERIOD ENDED 30th JUNE 2010 Chairman’s Statement The Board is pleased to announce the Unaudited Final Results for Metroelectric Plc, for the year ended 30th June 2010. The Company was established by the Directors to make acquisitions in the electric vehicle sector. The Company… Read More TIDMMEPT METROELECTRIC PLC ("Metroelectric" or the "Company") UNAUDITED RESULTS FOR THE PERIOD ENDED 30th JUNE 2010 Chairman's Statement The Board is pleased to announce the Unaudited Final Results for Metroelectric Plc, for the year ended 30th June 2010. The Company was established by the Directors to make acquisitions in the electric vehicle sector. The Company continues to look to invest or trade in the 'eco-friendly' products and technologies sector, as these are areas of continued growth. During the period, the Company achieved a profit of ÂGBP20,555 (ÂGBP56,735 loss: 2009).Earnings per ordinary share amounted to 0.006p in the period (0.28p loss: 2009) This accounting period covered our recent acquisition of Powabyke Acquisition Limited ('Powabyke'), owner of one of the UK's leading electric powered bicycle businesses, for approximately ÂGBP1 million, satisfied by a cash payment of ÂGBP120,000 and the allotment and issue of 107,999,640 new ordinary shares of 0.1p each in the capital of Metroelectric ("Ordinary Shares"). The associated costs of the transaction have been accounted within these results. Powabyke is an established, cash-generative business and the transaction has brought immediate cash-flows which enabled us to achieve near term profitability. After overcoming initial supply problems with existing suppliers, I am very pleased to confirm that our new mark-2 xbyke, which we introduced in September, has been extremely well received by the trade. We have introduced major aesthetic improvements to the design and managed to keep the suggested retail price (SRP) unchanged. We are currently busy re-stocking dealers with sample stock, giving us good store presence which will allow us to benefit from the seasonal uplift in the New Year. In April we announced that Powabyke Sverige AB had signed an exclusive distribution agreement to represent our brand in Sweden. We expect to make further announcements relating to other overseas territories in the near future. Powabyke sales and development of the Powabyke brand are our priority. POST BALANCE-SHEET EVENTS In July we announced that we entered into an initial three year exclusive, agreement with Wonder EV Company to distribute its electric cars in the UK and the Republic of Ireland (Eire). Wonder EV Company is part of China based Wonder Group which through its subsidiary, the AIM listed China Wonder, is a significant shareholder in Metroelectric. We are looking forward to taking delivery of the first cars in the early part of 2011. We are also in advanced negotiations with other electric vehicle (EV) manufacturers to represent them in the UK. 2011 will see significant growth in the EV sector and we are strategically placed to benefit from this emerging market. Greg Collier Chairman Metroelectric PLC Unaudited Profit and Loss Account for the Year Ended 30 June 2010 Note Year Ended June Year Ended June 2010 2009 ÂGBP ÂGBP Turnover 546,153 - Cost of sales (228,471) (262) Gross profit/(loss) 317,682 (262) Administrative expenses (271,567) (56,473) Operating profit/(loss) 46,115 (56,735) Interest payable and similar charges (25,560) - Profit/(loss) on ordinary activities 20,555 (56,735) before taxation Profit/(loss) for the financial year 20,555 (56,735) Profit and loss reserve brought forward (195,824) (139,088) Profit and loss reserve carried forward (175,269) (195,823) Metroelectric PLC Unaudited Balance Sheet as at 30th June 2010 30 June 2010 30 June 2009 ÂGBP ÂGBP ÂGBP ÂGBP Fixed assets Intangible assets 867,292 - Tangible assets 16,837 2,775 884,129 2,775 Current assets Stocks 198,104 15,983 Debtors 296,190 5,627 Cash at bank and in 47,962 4,955 hand 542,256 26,565 Creditors: Amounts (130,557) (30,163) falling due within one year Net current 411,699 (3,598) assets/(liabilities) Total assets less 1,295,828 (823) current liabilities Creditors: Amounts (180,000) - falling due after more than one year Net 1,115,828 (823) assets/(liabilities) Capital and reserves Called up share capital 360,100 195,000 Share premium reserve 930,997 - Profit and loss reserve (175,269) (195,823) Shareholders' 1,115,828 (823) funds/(deficit) Earnings per share 0.00006 (0.0028) Accounting policies 1. Basis of preparation The report has been prepared using accounting policies that the Group and its subsidiary undertaking have adopted and were used for the accounting period to 30th June 2010. The information does not constitute statutory accounts within the meaning of section 435 of the Companies Act 2006. The financial statements are prepared under the historical cost convention. 2. Turnover Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. 3. Amortisation Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows: 4. Depreciation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Plant and machinery 25% straight line basis Fixtures and fittings 25% straight line basis 5. Goodwill Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities. Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable. 6. Stock Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. 7. Financial instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The Final Results has not been audited and the financial information contained in these results has not been agreed with an auditor. The Directors do not propose to pay a dividend for the year ended 30 June 2010. The directors of the issuer accept responsibility for this announcement. --ENDS- Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Tel: 020 7562 3373 [HUG#1467258] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Total voting rights	30/09/2010	TIDMMEPT 30 September 2010 METROELECTRIC PLC (“Metroelectric” or the “Company”) In accordance with the FSA’s Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 370,099,640 shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will… Read More TIDMMEPT 30 September 2010 METROELECTRIC PLC (“Metroelectric” or the “Company”) In accordance with the FSA’s Disclosure and Transparency Rules, the Board of Metroelectric confirms that the Company has 370,099,640 shares of 0.1p in issue carrying voting rights. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, Metroelectric under the FSA’s Disclosure and Transparency Rules. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Tel: 020 7562 3373 [HUG#1447945] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Issue of Equity	16/09/2010	TIDMMEPT 16 September 2010 METROELECTRIC PLC (“Metroelectric” or the “Company”) On 16th September 2010, Metroelectric plc issued 1,000,000 (one million) new Ordinary Shares of 0.1p each to Mark Chapman a non-executive Director of the Company. The shares were purchased at 1p each and will be held in his SIPP. The new shares issued will rank… Read More TIDMMEPT 16 September 2010 METROELECTRIC PLC (“Metroelectric” or the “Company”) On 16th September 2010, Metroelectric plc issued 1,000,000 (one million) new Ordinary Shares of 0.1p each to Mark Chapman a non-executive Director of the Company. The shares were purchased at 1p each and will be held in his SIPP. The new shares issued will rank pari passu with the existing Ordinary Shares of the Company. Following the issue of these shares, the enlarged issued share capital of the Company is 370,099,640 Ordinary Shares. Mark Chapman now directly holds 1,000,000 Ordinary Shares, representing 0.2% of the issued share capital. Mark is also the Chairman and minority shareholder of China Wonder Limited, the AIM listed company, which holds 25,000,000 shares in Metroelectric, representing 6.75% of the issued share capital of the Company. The Directors’ total shareholding is now 12,225,000 shares, representing 3.30% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Tel: 020 7562 3373 [HUG#1444860] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metroelectric Plc via Thomson Reuters ONE Read Less
Holding(s) in Company	20/08/2010	TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, was notified on August 16th 2010 that following a recent sale, David Marks has disposed of 25,000,000 shares in the Company, representing 6.77% of the issued share capital and no longer has a notifiable interest… Read More TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, was notified on August 16th 2010 that following a recent sale, David Marks has disposed of 25,000,000 shares in the Company, representing 6.77% of the issued share capital and no longer has a notifiable interest in the Company. On the same day, the Company has also been informed that Bridge Hall Stockbrokers Limited (“Bridge Hall”) has acquired 25,000,000 shares representing 6.77% of the issued share capital in the Company. Greg Collier, Chairman of the Company, comments: “We welcome Bridge Hall becoming an investor in Metroelectric, an investment which we understand is strategic and long-term in nature. Your Board believes that the confidence shown by Bridge Hall in your company through this investment is a reflection of the growing interest in the Metroelectric business amongst UK retail and private client investors. =-ENDS– The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker Read Less
Statement re New Distribution Agreement	21/07/2010	TIDMMEPT 21 July 2010 Metroelectric Plc Electric Vehicles – distribution agreement Metroelectric Plc (“Metroelectric” or the “Company) a leader in the manufacture and distribution of electric bicycles and other electric personal transport, is pleased to announce that it has entered into an initial three year exclusive, agreement with Wonder EV Company to distribute its electric… Read More TIDMMEPT 21 July 2010 Metroelectric Plc Electric Vehicles – distribution agreement Metroelectric Plc (“Metroelectric” or the “Company) a leader in the manufacture and distribution of electric bicycles and other electric personal transport, is pleased to announce that it has entered into an initial three year exclusive, agreement with Wonder EV Company to distribute its electric cars in the UK and Eire. Wonder EV Company is part of China based Wonder Group which through its subsidiary, the AIM listed China Wonder, is a significant shareholder in Metroelectric. The first model currently known as the Wonder EV is a contemporary designed two seater, capable of 50 mph and a range of up to 120 miles between charges from a standard domestic socket. It has successfully undergone in house crash testing and the process of EC homologation is currently underway. The agreement was formed at the Beijing EV motor show last week, where the Wonder EV production model was unveiled for the first time. The Company hopes to receive marketing demonstrator vehicles in the UK by the end of this summer and retail stock by January 2011. The Wonder EV will be competitively priced, with leasing options making it an attractive proposition as a second car to any household. At the signing ceremony, filmed by Chinese TV, The Wonder Group also exhibited a four door, five seater electric taxi and an electric coach. Greg Collier, Chief Executive, Metroelectric, commented: “We are currently the UK leader in electric bikes via our Powabyke brand which has achieved sales momentum allowing us to focus on a widening of operations into other forms of electric transport which we view as being an area of substantial potential growth. Electric vehicles are exempt from many vehicle related charges such as parking in a growing number of boroughs, congestion charges and road tax. Other personal savings are found in the forms of reduced car insurance due to the low risk classifications and income tax allowances from ownership of such vehicles. This is in addition to the ecological benefits of zero emissions at source. “At the show we also provisionally agreed terms with The Wonder Group to represent the Powabyke brand (wholly owned by Metroelectric) in China and to also assist us to find partners in other Asian countries. The Wonder Group is a respected company in China and recognised as a major supplier to the worldwide automobile industry. “We are excited that a company of their stature will help build the Powabyke brand in a country with a rapidly expanding economy and population estimated at 1.4 billion. The Wonder group will manufacture, under license, the stock for the Chinese market. “We expect to make a further announcement on the completion of this agreement soon.” The Directors of the Company accept responsibility for this announcement Enquiries: Metroelectric Plc Greg Collier, Tel: 07830 182501 Rivington Street Corporate Finance Eran Zucker, Tel: 020 7562 3373 China Wonder Ltd Mark Chapman, Tel: 01483 894627 Read Less
Statement re New Distribution Agreement & Interests in Securities	27/04/2010	TIDMMEPT 27/04/10 New Distribution Agreement and Interests in Securities Metroelectric is pleased to announce that Powabyke EV Ltd. its wholly owned subsidiary has signed a distribution agreement with Powabyke Sverige AB (“PSAB”) of Sweden. The agreement will run for a minimum of one year and gives PSAB exclusive distribution rights within Sweden. The agreement is… Read More TIDMMEPT 27/04/10 New Distribution Agreement and Interests in Securities Metroelectric is pleased to announce that Powabyke EV Ltd. its wholly owned subsidiary has signed a distribution agreement with Powabyke Sverige AB (“PSAB”) of Sweden. The agreement will run for a minimum of one year and gives PSAB exclusive distribution rights within Sweden. The agreement is renewable annually subject to achieving minimum agreed sales. PSAB first consignment has been ordered and payment received. Powabyke Sverige AB is an independent company and not a subsidiary of Metroelectric plc or Powabyke EV Ltd. Powabyke Sverige AB is headed by Henrik Olander who brings ten years of experience in consumer electronics and retail gained from senior marketing and sales director positions at Black & Decker and LEGO. Henrick said, “I have been interested in electric bikes for a while and have thoroughly researched the products available. I believe that Powabykes are by far the best on the market. The company has developed a quality product that meets the tight legislation that we have in Sweden”. Powabyke Sverige AB is looking forward to receiving their first consignment of bikes. This is first international distribution agreement Metroelectric have signed and the Company is actively seeking further international partners to represent the Powabyke brand worldwide. Metroelectric would also like to announce that it was notified on April 26(th) 2010 that, following a recent sale, Crossfield Investments Ltd has now decreased its stake in the Company to 12,554,338 shares, representing 3.4% of the issued share capital. The directors of the Company accept responsibility for the announcement –ENDS– Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 8099 0571 Eran Zucker END [HUG#1408732] Read Less
Statement re Trading Statement	23/04/2010	TIDMMEPT METROELECTRIC PLC (“Metroelectric” or “the Company”) TRADING STATEMENT FOR THE PERIOD ENDED 31st MARCH 2010 Further to the Interim Results announcement made earlier today, the Company is delighted to publish a trading statement for the period 1st July 2009 up to 31st March 2010. Total sales for the period of ÂGBP195,663 resulted in a… Read More TIDMMEPT METROELECTRIC PLC (“Metroelectric” or “the Company”) TRADING STATEMENT FOR THE PERIOD ENDED 31st MARCH 2010 Further to the Interim Results announcement made earlier today, the Company is delighted to publish a trading statement for the period 1st July 2009 up to 31st March 2010. Total sales for the period of ÂGBP195,663 resulted in a trading profit for the first time since the Company’s inception. This period includes all the associated costs of the recent Powabyke acquisition and as such, the management team is encouraged that the Company has managed to post a profit in such a short time. Sales of the Powabyke range are increasing and the Company’s growing status at the forefront of eco-friendly transportation, an area the management team believes to be of major growth potential, puts the Company in a strong position, moving forward. These interim figures have not been reviewed by the company auditors. Greg Collier Chairman The directors of the Company accept responsibility for the announcement. =-ENDS– Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 8099 0571 Eran Zucker Read Less
Statement re Interim Results	23/04/2010	TIDMMEPT METROELECTRIC PLC INTERIM RESULTS FOR THE PERIOD ENDED 31st DECEMBER 2009 Chairman’s Statement I am pleased to present the interim results for the company up to 31st December 2009. This accounting period covered our recent acquisition of Powabyke Acquisition Limited (‘Powabyke’), owner of one of the UK’s leading electric powered bicycle businesses, for approximately… Read More TIDMMEPT METROELECTRIC PLC INTERIM RESULTS FOR THE PERIOD ENDED 31st DECEMBER 2009 Chairman’s Statement I am pleased to present the interim results for the company up to 31st December 2009. This accounting period covered our recent acquisition of Powabyke Acquisition Limited (‘Powabyke’), owner of one of the UK’s leading electric powered bicycle businesses, for approximately ÂGBP1 million. The associated costs of the transaction have been accounted within these interim results. Powabyke is an established, cash-generative business and the transaction has brought immediate cashflow which will enable us to achieve near term profitability. I am very pleased to confirm that our order book is expanding and demand for our popular x-byke is exceeding expectations. In addition, we are developing interest from overseas distributors. We are also designing new bikes and trikes to complement our existing range. Powabyke sales and development of the Powabyke brand are our priority. In addition, we are pleased to be working closely with our new partners, China Wonder Ltd (part of the Wonder Auto Technology Group) who are developing a range of electric vehicles that we are looking forward to representing in Europe. We hope to be in a position to make a further announcement in the near future. Greg Collier Chairman UNAUDITED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDING 31st DECEMBER 2009 +———————–+——————+—————–+—————–+ \| \|Unaudited for the \| Audited for the \|Unaudited for the\| \| \| 6 months ended \| Year ended \| 6 months ended \| \| \| \| \| \| \| \| 31 December 2009 \| 30 June 2009 \|31 December 2008 \| \| \| \| \| \| \| \| ÂGBP \| ÂGBP \| \| +———————–+——————+—————–+—————–+ \|Turnover \| 49,963\| -\| \| +———————–+——————+—————–+—————–+ \|Cost of sales \| (31,899)\| (262)\| \| +———————–+——————+—————–+—————–+ \|Gross profit/(loss \| 18,064\| (262)\| \| +———————–+——————+—————–+—————–+ \|Administrative expenses\| (44,638)\| (56,473)\| \| \| \| \| \| (26,041) \| +———————–+——————+—————–+—————–+ \|Operating loss \| (26,574)\| (56,735)\| \| +———————–+——————+—————–+—————–+ \|Interest payable and \| (2,168)\| -\| \| \|similar charges \| \| \| \| +———————–+——————+—————–+—————–+ \|Loss on ordinary \| (28,742)\| (56,735)\| \| \|activities before \| \| \| (26,041) \| \|taxation \| \| \| \| +———————–+——————+—————–+—————–+ \|Loss for the financial \| (28,742)\| (56,735)\| \| \|period \| \| \| (26,041) \| +———————–+——————+—————–+—————–+ \|Profit and loss reserve\| (195,824)\| (139,088)\| \| \|brought forward \| \| \| (113,047) \| +———————–+——————+—————–+—————–+ \|Profit and loss reserve\| (224,566)\| (195,823)\| \| \|carried forward \| \| \| (139,088) \| +———————–+——————+—————–+—————–+ The profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the profit and loss account. UNAUDITED BALANCE SHEET AS AT 31st DECEMBER 2009 +——————–+——————–+——————-+——————–+ \| \|Unaudited as at 31 \|Audited as at 30 \|Unaudited as at 31 \| \| \|December 2009 \|June 2009 \|December 2008 \| +——————–+———+———-+———+———+———+———-+ \| \| ÂGBP\| ÂGBP \| ÂGBP\| ÂGBP\| ÂGBP\| ÂGBP \| +——————–+———+———-+———+———+———+———-+ \|Fixed assets \| \| \| \| \| \| \| +——————–+———+———-+———+———+———+———-+ \|Intangible assets \| \| 935,820\| \| -\| \| \| +——————–+———+———-+———+———+———+———-+ \|Tangible assets \| \| 7,780\| \| 2,775\| \| \| +——————–+———+———-+———+———+———+———-+ \| \| \| 943,600\| \| 2,775\| \| \| +——————–+———+———-+———+———+———+———-+ \|Current assets \| \| \| \| \| \| \| +——————–+———+———-+———+———+———+———-+ \|Stocks \| 94,749\| \| 15,983\| \| \| \| \| \| \| \| \| \| 5,000 \| \| +——————–+———+———-+———+———+———+———-+ \|Debtors \| 278,305\| \| 5,627\| \| \| \| \| \| \| \| \| \| 2,300 \| \| +——————–+———+———-+———+———+———+———-+ \|Cash at bank and in \| 16,598\| \| 4,955\| \| \| \| \|hand \| \| \| \| \| 22,600 \| \| +——————–+———+———-+———+———+———+———-+ \| \| 389,652\| \| 26,565\| \| \| \| \| \| \| \| \| \| 29,900 \| \| +——————–+———+———-+———+———+———+———-+ \|Creditors: Amounts \| \| \| \| \| \| \| \|falling due within \| \| \| (30,163)\| \| \| \| \|one year \| \| \| \| \| \| \| \| \|(266,721)\| \| \| \| \| \| \| \| \| \| \| \| (20,300)\| \| +——————–+———+———-+———+———+———+———-+ \|Net current \| \| 122,931\| \| \| \| \| \|assets/(liabilities)\| \| \| \| (3,598) \| \|9,870 \| +——————–+———+———-+———+———+———+———-+ \|Net \| \| 1,066,531\| \| \| \| 9,870\| \|assets/(liabilities)\| \| \| \|(823) \| \| \| +——————–+———+———-+———+———+———+———-+ \|Capital and reserves\| \| \| \| \| \| \| +——————–+———+———-+———+———+———+———-+ \|Called up share \| \| 360,100\| \| 195,000\| \| 175,000\| \|capital \| \| \| \| \| \| \| +——————–+———+———-+———+———+———+———-+ \|Share premium \| \| 930,997\| \| -\| \| \| \|reserve \| \| \| \| \| \| \| +——————–+———+———-+———+———+———+———-+ \|Profit and loss \| \| (224,566)\| \|(195,823)\| \| (165,130)\| \|reserve \| \| \| \| \| \| \| +——————–+———+———-+———+———+———+———-+ \|Shareholders’ \| \| 1,066,531\| \| \| \| \| \|funds/(deficit) \| \| \| \|(823) \| \|9,870 \| +——————–+———+———-+———+———+———+———-+ Notes 1. The financial information set out in this announcement does not constitute statutory accounts. This financial information has not been reviewed by the Company’s auditors. The directors of the Company accept responsibility for the announcement. –ENDS- Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 8099 0571 Eran Zucker [HUG#1407453] Read Less
Directorate change	19/04/2010	TIDMMEPT 19/04/2010 Metroelectric Plc Directorate change Metroelectric Plc (the “Company”), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, announces that Adrian Gleave is to resign from his position as Director on 23(rd) April 2010, to focus on a new project he has been offered outside the electric vehicle business. Adrian… Read More TIDMMEPT 19/04/2010 Metroelectric Plc Directorate change Metroelectric Plc (the “Company”), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, announces that Adrian Gleave is to resign from his position as Director on 23(rd) April 2010, to focus on a new project he has been offered outside the electric vehicle business. Adrian assisted on the recent target acqusition of Powabyke, the UK’s leading brand of electrically assisted bicycles and leaves the company in a significantly stronger position than when he joined in 2008. Now the board team has been strengthened with the recent appointments of Paul Rewrie as a Director and Mark Chapman as Non-executive Director. Metroelectric plc and the management team wish Adrian Gleave success in his new role. –ENDS– The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker [HUG#1405121] Read Less
Statement re Interests in Securities	22/03/2010	TIDMMEPT 22/03/10 METROELECTRIC PLC Interests in Securities Metroelectric Plc (the “Company”), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, was notified on March 19th 2010 that, following a recent sale, Crossfield Investments Ltd has now decreased its stake in the Company to 19,907,047 shares, representing 5.39% of the issued share… Read More TIDMMEPT 22/03/10 METROELECTRIC PLC Interests in Securities Metroelectric Plc (the “Company”), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, was notified on March 19th 2010 that, following a recent sale, Crossfield Investments Ltd has now decreased its stake in the Company to 19,907,047 shares, representing 5.39% of the issued share capital. The Directors of the Company accept responsibility for this announcement. –ENDS– Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker [HUG#1396075] Read Less
Fund raising and trading update	16/03/2010	TIDMMEPT 16 March 2010 Metroelectric Plc (“Metroelectric” or “the Company”) Fund raising and trading update Metroelectric plc,the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, announces that it has raised ÂGBP173,250 before expenses, via a placing (‘the Placing’) by Rivington Street Corporate Finance to institutional and other investors. The Placing has… Read More TIDMMEPT 16 March 2010 Metroelectric Plc (“Metroelectric” or “the Company”) Fund raising and trading update Metroelectric plc,the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, announces that it has raised ÂGBP173,250 before expenses, via a placing (‘the Placing’) by Rivington Street Corporate Finance to institutional and other investors. The Placing has been done via the issuance of a new 12% Convertible Loan Note, redeemable in December 2012, and convertible into new ordinary shares of Metroelectric at a price of 1.50p per share. The funding will be used to support the Company’s growing portfolio of electric vehicles, and, in particular, will be used to help the Company’s subsidiary Powabyke meet the recent, rapid growth in demand for its range of electric bicycles. Powabyke, purchased by Metroelectric in December 2009, has enjoyed a particularly strong start to 2010, with a very healthy order book and a strong pipeline of new product developments. Nick Child, Director of Powabyke, comments; “The injection of this additional growth capital into the group will enable Powabyke to meet the growing demand for its existing range, and to enable us to forge ahead with plans for new models of electric bikes and our planned expansion into new markets. In the coming weeks we are expecting to be able to conclude a major export distribution deal for our new X Bike in Scandinavia and the appointment of at least two major UK high street retailers to stock the Powabyke range. These are very exciting times for us.” Greg Collier, chairman of Metroelectric Plc comments on developments at Powabyke; “We are absolutely delighted by the excellent performance of Powabyke since its acquisition in December. Powabyke is already beginning to realise its obvious, huge, potential as it builds on its existing strong following of enthusiastic customers. We see this further funding as an opportunity to fast-track the launch of new products and to support international expansion, and we look forward to being able to deliver to our shareholders,demonstrable evidence of the results of this investment within the near future”. The Company also announces that it has issued 9,000,000 (nine million) new ordinary shares of 0.1p each in the Company (`Ordinary Shares’) pursuant to the exercise of warrants at a price of 0.1p by Crossfield Investments Ltd. Following the exercise of these warrants, issued at the time of the Company’s IPO, there are no other outstanding IPO warrants. The new shares will rank pari passu with the existing Ordinary Shares of 0.1p each in the Company. Following the exercise of warrants, the enlarged issued share capital of the Company is369,099,640 (three hundred and sixty nine million, ninety nine thousand and six hundred and forty) Ordinary Shares. The Directors’ total shareholding remains at 11,225,000 shares representing 3.04% of the issued share capital. The Directors of the Company accept responsibility for this announcement. -ENDS – Notes for Editors Powabyke is one of the UK’s largest manufacturers of electric bikes. Since it was set up in 1999 it has sold more than 30,000 bikes through a nationwide network of around 300 dealers. Powabyke has a removable battery that is charged-up like a mobile phone, so it is easy to recharge as required. According to WorkWiseUK the average daily commute is 8.7 miles and takes 54 minutes. Customers who have bought Powabyke have found that not only is the journey faster by bike but also as they get used to being ‘back in the saddle’ they gradually build up their fitness and use the assistance of the electric motor less and less. Enquiries: Metroelectric Plc Tel: +44 (0) 78 3018 2501 Greg Collier Powabyke (http://www.powabyke.com ) Tel + 44 (0) 1225 44 37 37 Nick Child Holdsworth Associates (PR consultants) Tel: +44 (0)1954 202789 Rachel Holdsworth/Alison JackEmail: Alison@holdsworth-associates.co.uk Rivington Street Corporate Finance Ltd Tel: + 44 (0) 20 7562 3373 Eran Zucker [HUG#1394420] Read Less
Appointment of New Directors	22/01/2010	TIDMMEPT 22/01/10 METROELECTRIC PLC (“Metroelectric” or the “Company”) APPOINTMENT OF NEW DIRECTORS Metroelectric plc, the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, is pleased to announce today the appointment of Mark Chapman to the board as a Non-Executive Director and Paul Rewrie to the Board as an Executive Director with… Read More TIDMMEPT 22/01/10 METROELECTRIC PLC (“Metroelectric” or the “Company”) APPOINTMENT OF NEW DIRECTORS Metroelectric plc, the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, is pleased to announce today the appointment of Mark Chapman to the board as a Non-Executive Director and Paul Rewrie to the Board as an Executive Director with immediate effect. MARK CHAPMAN Mark Chapman, aged 57 years has been involved in investing in the Far East for 15 years. In 1994 he won the Micropal Award as the Far East Fund Manager of the year and in the same year his investment team at Chartfield Investment Management Limited won the Micropal Smaller Company Award. From 1995 until 1999 he was a Director of Powerhouse Resources Inc. which constructed and commissioned a Power Station in Guandong Province China. In 1997 he was one of the founders of LMM Limited which, in October 2000 was reorganised and introduced to AIM as Cyberchina Holdings plc, now CYC Holdings plc. In addition to his role as Investment Manager of CYC, Mark Chapman is a director of a number of private and publicly quoted companies. He is also Chief Executive of Sinovation plc, a company in which CCM has an investment and which owns ultra sonic data input proprietary information sourced from China. Mark is currently Chairman of China Wonder Limited, the first Chinese company admitted to AIM. Mark Chapman has held the following directorships during the past five years: Current Directorships / Past Directorships Partnerships China Wonder Ltd Community Assets Ltd Community properties Ltd Distinctive Hotels Ltd Distinctive Leisure plc China Capital Ltd Distinctive Leisure Properties Ltd Vincom Commodities plc. Distinctive Inns Ltd Textbet plc Khamthai Ltd Vertical Sports plc Medicals Direct Group Ltd Sinovation plc Powerhouse resources Inc. Tower Acquisitions Ltd Emerging Utilities Ltd Sandburg Foods Ltd Sonross plc Vault plc( formerly Oakhill Enterprises plc) The Sandwich Bank and Crust Company plc Ransat plc Sinovation(London)Ltd Xience Ltd Sweet China Ltd Crown Trent China Ltd Cathay Corporate Managers Ltd Mark Chapman was a Director of Britpower UK Ltd and its subsidiaries from 1994-1995.These were project companies bidding for NFFO contracts. Following the failure to be awarded any contracts the companies were wound up in November 1995.There was a deficiency of ÂGBP113,248.18 Mark Chapman was a Director of Powerhouse Resources Inc when it was placed in Liquidation, there was a shortfall to creditors of (US)$1,846,720.96. Mark Chapman was a Director of the operating subsidiary of Powerhouse Resources, Emerging Utilities Ltd, this was subject to a creditors voluntary liquidation, there was a shortfall of ÂGBP1 million. Mark Chapman was a Director of Distinctive Public Houses Ltd from October 1997 to June 1999 when the company was sold to a third party. Distinctive Public Houses Ltd subsequently went in compulsory liquidation in November 1999. Mark Chapman was a Director of Tom O’Hawk Toys Ltd from May 1994 to June 1996 when he resigned. Tom O’Hawk Toys subsequently went into compulsory liquidation in April 1998 Mark Chapman was a Director of Peak Minerals plc from January 1995 to July 1995 when he resigned. Peak Minerals plc went into administrative receivership in February 1996. Mark Chapman was a Director of Hammerhead Company Ltd which went into compulsory liquidation in April 1989.There was a shortfall to creditors of ÂGBP1 million. Mark Chapman was a Director of Crown Trent China Ltd which was subject of a Creditors voluntary liquidation in 2007. There was a shortfall of ÂGBP300000. Mark Chapman was a Director of Ransat plc, which was subject of compulsory liquidation in 2007. There was a shortfall of ÂGBP3 million Mark Chapman was a Director of Cathay Corporate Managers Ltd which was subject to a creditors liquidation in 2007, there was a shortfall of ÂGBP200000. PAUL REWRIE Paul Rewrie, aged 48 years has been a Chartered Management Accountant for 20 years. He formed Oxford and Cambridge Independent Advisers Limited in 1992 and sold it via trade sale in 2003. Paul has been a Finance Director and Company Secretary for various companies including Peel Homes and Caspian Homes Limited. Paul has been involved in fundraising via private and public offerings and trade sales. Paul Rewrie, holds or has held the following directorships or has been a partner in the following partnerships within the five years prior to the date of this announcement. Current Directorships / Partnerships Past Directorships Biostability (UK) Limited BGG Associates Limited Commercial Tyre Services Limited D R Studios Limited Sizzle Design Limited High Barn Limited Blueriver Property Development Limited Dot2shop Limited Paul Rewrie Limited OX & Cam Limited Asset Bridging & Funding Plc Cambridge Biostability Limited Commercial Tyre Solutions Limited Dot 2 Limited Alcon Informatics Limited Cambridge Energy Resources Limited Powabyke Acquisition Limited In-Solve Plc Paul Rewrie is a director of Deep Red Games Limited, which went into Voluntary Creditors Liquidation on 10 February 2008. Mark Chapman is a Director and a shareholder of China Wonder Ltd which holds 25,000,000 shares, representing 6.94% of the issued share capital of Metroelectric. Paul Rewrie is a Director of In-Solve Plc which holds 12,500,000 shares, representing 3.47% of the issued share capital of Metroelectric. Following these appointments the Directors’ total direct shareholding is 11,225,000 shares representing 3.1% of the issued share capital of the Company. The Directors of the issuer accept responsibility for this announcement. —ENDS— Enquiries: Metroelectric Plc Tel: 078 3018 2501 Greg Collier Rivington Street Corporate Finance Ltd Tel: 020 7562 3373 Eran Zucker [HUG#1376145] Read Less
Holding(s) in Company	07/01/2010	TIDMMEPT 07/01/10 METROELECTRIC PLC Holding(s) in Company Metroelectric Plc (the “Company”), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, was notified on January 4th 2010 that, following a recent sale, Crossfield Investments Ltd has now decreased its stake in the Company to 27,199,221 shares, representing 7.55% of the issued share… Read More TIDMMEPT 07/01/10 METROELECTRIC PLC Holding(s) in Company Metroelectric Plc (the “Company”), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, was notified on January 4th 2010 that, following a recent sale, Crossfield Investments Ltd has now decreased its stake in the Company to 27,199,221 shares, representing 7.55% of the issued share capital. –ENDS– The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric PlcTel:Â 078 3018 2501 Greg Collier Rivington Street Corporate Finance LtdTel:Â 020 7562 3373 Eran Zucker [HUG#1371201] (END) Dow Jones Newswires January 07, 2010 07:32 ET (12:32 GMT) Read Less
Total voting rights	31/12/2009	TIDMMEPT 30 December 2009 MetroelectricPlc (?Metroelectric? or ?the Company?) Total Voting Rights In accordance with the FSA’s Disclosure and Transparency Rules, Metroelectric Plc confirms that as of 30 December 2009 the Company has360,099,640 ordinary shares in issue. The Directors of the Company are responsible for the contents of this announcement. Enquiries: Metroelectric Plc Greg Collier… Read More TIDMMEPT 30 December 2009 MetroelectricPlc (?Metroelectric? or ?the Company?) Total Voting Rights In accordance with the FSA’s Disclosure and Transparency Rules, Metroelectric Plc confirms that as of 30 December 2009 the Company has360,099,640 ordinary shares in issue. The Directors of the Company are responsible for the contents of this announcement. Enquiries: Metroelectric Plc Greg Collier Â Tel: Â 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Â Tel: 020 7562 3373 Notes to Editors: Metroelectric: Metroelectric offers one of the most environmentally-friendly and economical ways to navigate the city, with a variety of vehicles; Electric Cars, Electric Vans and Electric Scooters. Its vehicles provide a genuine alternative to driving the CO2 emitting petrol or diesel car. Its electric vehicles requireNo Road Tax or Congestion Charges and users benefit from Free Parking and Zero Emissions. [HUG#1369342] (END) Dow Jones Newswires Read Less
Result of AGM	30/12/2009	TIDMMEPT 30 December 2009 MetroelectricPlc (?Metroelectric? or ?the Company?) Result of the AGM The Â Board of Metroelectric Plc is pleased to announcethat at the Company?s General Meeting held earlier today, all the resolutions were duly passed. The Directors of the Company are responsible for the contents of this announcement. Enquiries: Metroelectric Plc Greg Collier… Read More TIDMMEPT 30 December 2009 MetroelectricPlc (?Metroelectric? or ?the Company?) Result of the AGM The Â Board of Metroelectric Plc is pleased to announcethat at the Company?s General Meeting held earlier today, all the resolutions were duly passed. The Directors of the Company are responsible for the contents of this announcement. Enquiries: Metroelectric Plc Greg Collier Â Tel: Â 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Â Tel: 020 7562 3373 Notes to Editors: Metroelectric: Metroelectric offers one of the most environmentally-friendly and economical ways to navigate the city, with a variety of vehicles; Electric Cars, Electric Vans and Electric Scooters. Its vehicles provide a genuine alternative to driving the CO2 emitting petrol or diesel car. Its electric vehicles requireNo Road Tax or Congestion Charges and users benefit from Free Parking and Zero Emissions. [HUG#1369335] Read Less
Issue of Equity	22/12/2009	TIDMMEPT 22 December 2009 Metroelectric plc Issue of Equity and Total Voting Rights The directors of Metroelectric wish to announce the following changes to substantial shareholdings over 3% as a result of the issue of equity to China Wonder and the vendors of Powabyke. In addition to the shares issued for the acquisition, Greg Collier,… Read More TIDMMEPT 22 December 2009 Metroelectric plc Issue of Equity and Total Voting Rights The directors of Metroelectric wish to announce the following changes to substantial shareholdings over 3% as a result of the issue of equity to China Wonder and the vendors of Powabyke. In addition to the shares issued for the acquisition, Greg Collier, director of Metroelectric has been issued 2.1 million shares as an introductory fee for introducing and completing the transaction. As a result, the directors hold 0.86% of the equity. +———————————–+—————-+——————–+ \|Name of Shareholder \|Number of Shares\|% of Enlarged Equity\| +———————————–+—————-+——————–+ \|Pathway One Plc \|12,500,000 \|3.47% \| +———————————–+—————-+——————–+ \|Africa Oil Plc \|12,500,000 \|3.47% \| +———————————–+—————-+——————–+ \|Worship Street Investments Limited \|39,500,000 \|10.97% \| +———————————–+—————-+——————–+ \|David Marks \|31,244,100 \|8.68% \| +———————————–+—————-+——————–+ \|Crossfield Investments Limited \|33,356,443 \|9.26% \| +———————————–+—————-+——————–+ \|Rel SA \|18,000,000 \|5.00% \| +———————————–+—————-+——————–+ \|European Pension Management Limited\|13,000,000 \|3.61% \| +———————————–+—————-+——————–+ The total number of shares in issue is 360,099,640. The Directors of the issuer accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Â Tel: Â 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Â Tel: 020 7562 3373 Notes to Editors: Metroelectric: Metroelectric offers one of the most environmentally-friendly and economical ways to navigate the city, with a variety of vehicles; Electric Cars, Electric Vans and Electric Scooters. Its vehicles provide a genuine alternative to driving the CO2 emitting petrol or diesel car. Its electric vehicles requireNo Road Tax or Congestion Charges and users benefit from Free Parking and Zero Emissions. [HUG#1366613] Read Less
Acquisition of UK’s leading electric bicycle manufacturer	22/12/2009	TIDMMEPT Metroelectric plc Acquisition of the UK?s leading electric bicycle manufacturer. Brings prospect of immediate cashflow as product range broadened The Directors of Metroelectric plc (?Metroelectric? or ?the Company?), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, today announced the acquisition of Powabyke Acquisition Limited (?Powabyke?), owner of one of… Read More TIDMMEPT Metroelectric plc Acquisition of the UK?s leading electric bicycle manufacturer. Brings prospect of immediate cashflow as product range broadened The Directors of Metroelectric plc (?Metroelectric? or ?the Company?), the PLUS listed investment company with a growing portfolio of environmentally friendly vehicles, today announced the acquisition of Powabyke Acquisition Limited (?Powabyke?), owner of one of the UK?s leading electric powered bicycle businesses, for approximately ÂGBP1 million. Powabyke is an established, cash-generative business and the transaction brings the prospect of immediate cashflows which, the directors believe, will further drive Metroelectric towards its goal of achieving near term profitability. In addition, the transaction substantially broadens Metroelectric?s product offering, and positions the Company at the forefront of one of the fastest growing niches of the international electric powered vehicle marketplace (nb industry experts expect Europe to buy 2.5 million electric bikes in 2009, up 355% from 550,000 in 2008). Acquisition details Under the terms of the acquisition, Metroelectric will acquire 100% of the issued share capital of Powabyke for ÂGBP983,997, to be satisfied by a cash payment of ÂGBP120,000 andthe allotment and issue of 107,999,640 new ordinary shares of 0.1p each in the capital of Metroelectric (?Ordinary Shares?). Dealings in these new Ordinary Shares are expected to commence on 29th December 2009. Funding for the cash component of the consideration has been derived from the proceeds of a ÂGBP200,000 cash subscription into Metroelectric, separately announced this morning. As a result of this cash subscription,25,000,000 new ordinary shares in Metroelectric have been issued to China Wonder Limited, an associate of Wonder Auto Technology Group (?WATG?) based in Jinzhou, China. WATG (listed on NASDAQ) is a major worldwide supplier to the automobile industry and is currently developing a range of electric vehicles. MetroelectricÂ expects to beÂ working closely withÂ WATG on the development of Powabyke?s operations, as it seeks to further expand its business in the key Chinese market. Both the sellers and China Wonder Limited are subject to orderly market arrangements for a 12 month period from the first day of dealings in the consideration and subscription shares. Background Since its founding in 1999, Powabyke has sold over 30,000 own branded electric bicycles through a nationwide network of around 300 dealers including bike shops and motor accessory retailers. In its last full financial year, the Company generated gross profits of ÂGBP177,000 on sales of ÂGBP653,000. Powabyke was bought out of administration and recapitalised in October 2009 by a group of corporate and individual investors. In line withMetroelectric?s stated strategy ? which includes production of a range of electric cars, scooters and vans – Powabyke provides cost effective environmentally friendly low emission alternatives to traditional modes of transport. The Directors of Metroelectric believe that the two businesses are highly complementary and a combination will offer the enlarged company the opportunity to harness the market expertise and long-established sourcing and distribution proficiency of Powabyke to help further develop Metroelectric into one of Europe?s largest independent specialist electric vehicle producers. Commenting on the acquisition, Greg Collier, Chairman of Metroelectric says: ?We are delighted to have completed this acquisition. Powabyke, with its strong cash generation and growing order book, will provide a strong revenue stream to help drive future expansion and development of Metroelectric. Together with the investment into Metroelectric, also announced today, by the Wonder Group, this acquisition provides a unique opportunity for us to further grow our operations and we very much look forward to developing our brands and updating the market in the coming months.? The Directors of the issuer accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Â Tel: Â 07830 182501 Rivington Street Corporate Finance Ltd Eran Zucker Â Tel: 020 7562 3373 Notes to Editors: Metroelectric: Metroelectric offers one of the most environmentally-friendly and economical ways to navigate the city, with a variety of vehicles; Electric Cars, Electric Vans and Electric Scooters. Its vehicles provide a genuine alternative to driving the CO2 emitting petrol or diesel car. Its electric vehicles requireNo Road Tax or Congestion Charges and users benefit from Free Parking and Zero Emissions. Powabyke: Powabyke’s purpose-designed electric bikes offer all the benefits of traditional cycling – the freedom, the convenience, the practicality – but with an important difference: none of the effort. That’s because you pedal only when you want to. The rest of the time, users can let the 200 watt motor take the strain. Powabyke?s market bikes in the UK and exports to over 14 different countries and its brand is recognised from the USA to China. [HUG#1366104] Read Less
Investment by leading chinese vehicle parts group	22/12/2009	TIDMMEPT Metroelectric plc (?Metroelectric? or ?the Company?) Investment by leading Chinese vehicle parts group Metroelectric plc (?Metroelectric? or ?the Company?), the PLUS quoted investment company with a growing portfolio of environmentally friendly vehicles, today announces thatChina Wonder Limited, the specialist engineering company based in Jinzhou in China, has agreed to invest ÂGBP200,000 in the Company,… Read More TIDMMEPT Metroelectric plc (?Metroelectric? or ?the Company?) Investment by leading Chinese vehicle parts group Metroelectric plc (?Metroelectric? or ?the Company?), the PLUS quoted investment company with a growing portfolio of environmentally friendly vehicles, today announces thatChina Wonder Limited, the specialist engineering company based in Jinzhou in China, has agreed to invest ÂGBP200,000 in the Company, by way of a subscription for 25,000,000 new ordinary shares of 0.1 pence each at a price of 0.8 pence per share (the ?Investment?). Â In addition, China Wonder Limited has been granted an option to subscribe for a further 50 million new ordinary shares in Metroelectric at a price of 0.8 pence per share. Dealings in the new ordinary shares are expected to commence on29 December 2009. Metroelectric has also today announced that it has agreed to acquire the business and assets of Powabyke Acquisition Limited (?Powabyke?), owner of one of the UK?s leading electric powered bicycle businesses, for ÂGBP983,997, which will be satisfied by a cash payment of ÂGBP120,000 and the allotment and issue of 107,999,640 new ordinary shares of 0.1p each in the capital of Metroelectric at 0.8 pence per share (the ?Acquisition?). Â A proportion of the investment made by China Wonder Limited will go towards payment of the cash consideration for the Powabyke acquisition. China Wonder Limited is an associate of Wonder Auto Technology Group (?WATG?), a NASDAQ listed major worldwide supplier to the automobile industry. WATG is currently developing a range of electric vehicles and the parties look forward to working closelyon the development of Powabyke?s operations, as it seeks to further expand its business in the key Chinese market. Both the China Wonder and the Powabyke vendors are subject to orderly market arrangements for a 12 month period from the first day of dealings in the investment and consideration shares. Commenting on the investment, Greg Collier, Chairman of Metroelectric says: ?Coupled with the announcement today of our acquisition of Powabyke, the investment into Metroelectric by the Wonder Group, represents a major transformation of the Company. We are delighted to have secured the endorsement of our strategy and growth ambitions, from such a globally renowned vehicle parts supplier, and we look forward to developing a long and mutually beneficial relationship with the Wonder Group, as together we seek to develop a major presence in the global electric vehicle marketplace. ? For further information, please contact: Greg Collier Metroelectric plc Tel: Â Â Â 07830 182 501 Eran Zucker Â Rivington Street Corporate Finance Ltd Tel: Â Â Â 020 7562 3373 Read Less
Holding(s) in Company	12/12/2009	Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 2,160,000 shares. Their holding in the Company is now 45,019,172 shares, representing 25.73% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange… Read More Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the "Company") today received notification that Crossfield Investments Ltd has sold 2,160,000 shares. Their holding in the Company is now 45,019,172 shares, representing 25.73% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
AGM Statement	03/12/2009	TIDMMEPT Metroelectric plc NOTICE OF ANNUAL GENERAL MEETING Metroelectric plc (“Company”) announces that it has written to shareholders convening the Annual General Meeting (AGM) to be held at the offices of Fasken Martineau LLP, 17 Hanover Square, London W1S 1HU on 30 December 2009 at 10.30 am. At the AGM the shareholders will consider and,… Read More TIDMMEPT Metroelectric plc NOTICE OF ANNUAL GENERAL MEETING Metroelectric plc (“Company”) announces that it has written to shareholders convening the Annual General Meeting (AGM) to be held at the offices of Fasken Martineau LLP, 17 Hanover Square, London W1S 1HU on 30 December 2009 at 10.30 am. At the AGM the shareholders will consider and, if thought fit, pass the following resolutions: 1. To receive and adopt the Directors’ Report and Accounts for the year ended 30 June 2009. 2. To re-appoint White and Company Chartered Accountants as auditors to hold office until conclusion of the next meeting at which the accounts are laid before the Company at remuneration to be determined by the directors. 3. To re-elect Adrian Gleave as a director retiring pursuant to Article 118 of the Company’s Articles of Association Notes 1. Copies of the notice of meeting and the accompanying circular, together with the Directors’ report and financial statements for the period from incorporation to 30 June 2009 will, for a period of one month from the date of this announcement be available for inspection free of charge during usual business hours at the registered office of the Company, c/o Fasken Martineau LLP, 17 Hanover Square, London W1S 1HU. 2. Shareholders are entitled to appoint one or more proxy or proxies to attend the meeting, speak and vote on their behalf. A proxy need not be a member of the Company. Appointment of a proxy will not preclude the appointing shareholder from attending the meeting. 3. To be valid, proxies should be correctly completed and received at the Company’s registrar, Share Registrars Limited at Suite E, First Floor, 9 Lion and Lamb Yard, Farnham, Surrey GU9 7LL, not later than 10.30 am on Monday 28 December 2009. 4. Further information regarding proxies is set out in the letter sent to shareholders today. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Notice of Results	30/11/2009	TIDMMEPT METROELECTRIC PLC ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2009 CHAIRMAN’S STATEMENT On behalf of the Board of Directors of Metroelectric plc, I have pleasure in presenting the results of the Group for the financial year ended 30 June 2009. Overview Metroelectric plc is an investment vehicle set up primarily to invest… Read More TIDMMEPT METROELECTRIC PLC ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2009 CHAIRMAN’S STATEMENT On behalf of the Board of Directors of Metroelectric plc, I have pleasure in presenting the results of the Group for the financial year ended 30 June 2009. Overview Metroelectric plc is an investment vehicle set up primarily to invest or acquire businesses or companies within the information sector. The Company continues to look for areas to invest or trade in the eco-friendly products and technologies sector, being a continued area of growth in accordance with the change in scope of business made in 2007. Results The Company achieved a loss for the year up to 30 June 2009 of GBP56,735 (2008: GBP136,980) largely as a result of listing and administration expenses. Loss per ordinary share amounted to GBP0.032 (2008: GBP0.078) in the period. On the 12th February 2009 the Group announced that it had reached an agreement to exclusively distribute an electric vehicle known as Crossrider in the UK/Eire. Crossrider is particularly suited to delivery use and has good ATV (all terrain vehicle) capabilities. In June the first demonstrator arrived and further vehicles since, these have been presented to a number of key organisations. Sales are expected to be imminent and the company looks forward to making future announcements in connection with this expectation. In addition, we are in negotiations with a number of other electric vehicle manufacturers in Europe and the Far East. The Group continues to be aware of its need to generate income and still maintains that it will only commit to a product that is viable. The Group continues to actively pursue potential investments and suitable acquisition targets in this sector. Cash and going concern As at 30 June 2009 the Group had cash resources of GBP4,955. The high costs associated with the company’s investment strategy have resulted in a high level of losses being incurred since incorporation, although the fund raising and other financing activities have enabled the Group to operate at the current trading levels. This situation is however not sustainable in the longer term hence the Board is considering various methods to increase the company’s cash resources by either entering into the distribution agreement with respect to the Crossrider vehicles, and/or a fund raising exercise. Additionally the expenses of running the Group in the coming year are expected to be significantly reduced as the Group does not expect to incur the level of professional fees it has faced in the last two years and it has also been able to reduce its overheads in the light of the change in direction. It is on this basis that the Directors consider it appropriate to prepare the Group’s Financial Statements on the going concern basis. Future outlook The Directors are confident that they will find a number of opportunities in the present financial climate which the company will be able to take advantage of. G Collier Chairman 30 November 2009 METROELECTRIC PLC ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2009 CONSOLIDATED PROFIT AND LOSS ACCOUNT 2009 2008 GBP GBP Turnover – – Cost of Sales (262) – ———— ———— Gross Loss (262) – Administrative expenses (56,473) (136,980) ———— ———— Operating loss (56,735) (136,980) Interest paid – – ———– ———– Loss on ordinary activities (56,735) (136,980) before taxation Tax on loss on ordinary – – activities ———– ———– Loss for the year (56,735) (136,980) ====== ====== Earnings Per Share (pence) – Basic earnings per share (0.032) (0.078) – Diluted earnings per share (0.027) (0.061) The consolidated profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the consolidated profit and loss account. The Company has elected to take the exemption under section 408 of the Companies Act 2006 to not present the Parent Company profit and loss account. The loss for the Parent Company for the period was GBP54,514 (2008: GBP136,980). METROELECTRIC PLC ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2009 BALANCE SHEETS AS AT 30 JUNE 2009 Group Company Group Company 2009 2009 2008 2008 GBP GBP GBP GBP Fixed assets Tangible 2,775 – – – assets Investments – 6 – – ————- ———— ————- ———— 2,775 6 – – Current assets Stocks 15,983 5,000 5,000 5,000 Debtors 5,627 14,494 10,182 10,182 Cash at bank 4,955 – 40,878 40,878 and in hand ————- ———— ————- ———— 26,565 19,494 56,060 56,060 Creditors: amounts falling due within one year (30,164) (18,103) (20,148) (20,148) ————- ———— ————- ———— Net current (3,599) 1,391 35,912 35,912 assets ————- ———— ————- ———— Total assets (824) 1,397 35,912 35,912 less current liabilities ======= ======= ======= ======= Capital and reserves Share capital 195,000 195,000 175,000 175,000 Share premium – – – – Profit and (195,824) (193,603) (139,088) (139,088) loss account ————- ———— ————- ———— Shareholders (824) 1,397 35,912 35,912 funds ======= ======= ======= ======= METROELECTRIC PLC ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2009 CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2009 Group Company Group Company 2009 2009 2008 2008 GBP GBP GBP GBP Net cash outflow from operating activities (52,223) (60,872) (110,186) (110,186) Cash flows from investing activities Purchase of fixed (3,700) – – – assets ————- ————- ————- ————- Net cash outflow from acquisitions and disposals (3,700) – – – Acquisitions and disposals Purchase of – (6) – – subsidiary undertakings ————- ————- ————- ————- Net cash outflow – (6) – – for acquisitions and disposals ————- ————- ————- ————- Net cash outflow (55,923) (60,878) before management of liquid resources and financing (110,186) (110,186) Financing Proceeds from issue 20,000 20,000 – – of shares Share issue – – – – expenses ————- ————- ————- ————- Net (35,923) (40,878) (decrease)/increase in cash (110,186) (110,186) Cash at beginning 40,878 40,878 of year 151,064 151,064 ————- ————- ————- ————- Cash at end of year 4,955 – 40,878 40,878 ======= ======= ======= ======= NOTES TO THE FINANCIAL STATEMENTS 1 GENERAL INFORMATION Metroelectric PLC is a public limited liability company incorporated in England and Wales under the Companies Act 1985 with the registration number 05840813 and quoted on the PLUS-quoted market. The address of the registered office is disclosed on page 1 of the financial statements. The principal activity of the company is disclosed on page 4. 2 ACCOUNTING POLICIES Basis of preparation The consolidated financial statements are prepared under the historical cost convention. The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated). The financial statements are prepared on a going concern basis which assumes that the Group’s directors will offer their continued financial support. Going concern The financial statements have been prepared on a going concern basis, notwithstanding the trading losses incurred since incorporation. The Group meets its day to day financing through its cash reserves. As at 30 June 2009 the company has a total of GBP4,955 in cash reserves. (MORE TO FOLLOW) Dow Jones Newswires Read Less
Notice of Results -3-	30/11/2009	Share capital Authorised 2009 2008 Group and company GBP GBP 10,000,000,000 ordinary shares of GBP0.001 each 10,000,000 10,000,000 ======= ======= Allotted, issued and fully paid 2009 2008 GBP GBP Ordinary shares of GBP0.001 each 195,000 175,000 ======= ======= The movement in the number of issued shares for the year was as follows: 2009 2008 No…. Read More Share capital Authorised 2009 2008 Group and company GBP GBP 10,000,000,000 ordinary shares of GBP0.001 each 10,000,000 10,000,000 ======= ======= Allotted, issued and fully paid 2009 2008 GBP GBP Ordinary shares of GBP0.001 each 195,000 175,000 ======= ======= The movement in the number of issued shares for the year was as follows: 2009 2008 No. No. Balance at 1 June 175,000,000 175,000,000 Shares issued 20,000,000 – ————— ————— Balance at 30 June 195,000,000 175,000,000 ======== ======== Persuant to a warrant instrument dated 6 November 2006 the company has granted warrants over 50,000,000 ordinary GBP0.001 shares. The warrants entitle the registered owners to subscribe for ordinary GBP0.001 shares at ay time up to 6 November 2009. On 21 April 2009 the company issued 10,000,000 new ordinary shares of GBP0.001 per share at par, pursuant to a warrant agreement. On 8 June 2009 a further 10,000,000 new ordinary shares of GBP0.001 each were issued at par under the warrant agreement. As disclosed at note 21 all warrants under the aforementioned agreement have now been issued. 10 Statement of movements on profit and loss account Group Company Group Company 2009 2009 2008 2008 GBP GBP GBP GBP Balance at (139,089) (139,089) (1) (1) beginning of year Loss for the (56,735) (54,514) (139,088) (139,088) year ————- ————- ————- ————- Balance at (195,824) (193,603) (139,089) (139,089) end of year ======= ======= ======= ======= 11 Reconciliation of movement in shareholders funds Group Company Group Company 2009 2009 2008 2008 GBP GBP GBP GBP Loss for the (56,735) (54,514) (139,088) (139,088) financial year Proceeds from 20,000 20,000 – – issue of shares ————- ————- ————- ————- Net depletion (36,735) (34,514) (139,088) (139,088) in shareholders’ funds Opening 35,911 35,911 174,999 174,999 shareholders’ funds ————- ————- ————- ————- Closing (824) 1,397 35,911 35,911 shareholders’ funds ======= ======= ======= ======= 12 Events after the balance sheet date On 1 October 2009 the company issued 25,000,000 ordinary shares of GBP0.001 each at par pursuant to the warrant agreement disclosed at note 9. On 6 November 2009 the company issued 5,000,000 ordinary shares of GBP0.001 each at par pursuant to the warrant agreement disclosed at note 9. As at 6 November 2009 the warrant agreement disclosed at note 9 has been satisfied in full. 13 Approval of Audited Accounts The financial information set out above, does not constitute full accounts within the meaning of Section 240 of the Companies Act 1985 (‘the Act’), were approved by the Board of Directors on 30th November 2009. The audited accounts for the Company for the year, received an unqualified auditors’ report within the meaning of Section 235 of the Act. Read Less
Notice of Results -2-	30/11/2009	The Directors have prepared cashflow forecasts for the period to 31 December 2010 which assume increased sales resulting from the Crossrider range and no unnecessary costs or expenditure. On the basis of these forecasts the Group is expected to continue to operate within its financial facilities for at least the next 12 months. Whilst the… Read More The Directors have prepared cashflow forecasts for the period to 31 December 2010 which assume increased sales resulting from the Crossrider range and no unnecessary costs or expenditure. On the basis of these forecasts the Group is expected to continue to operate within its financial facilities for at least the next 12 months. Whilst the Directors remain confident of continuing to operate within their current means there can be no certainty in this respect. Nevertheless, after making due and careful enquiries and considering all uncertainties the Directors believe the company will continue in operational existence for the forseeable future. For this reason the Directors continue to adopt the going concern basis in preparing the annual report and financial statements. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate. Consolidation Subsidiaries are entities that are directly or indirectly controlled by the Group. Control exists where the Group has the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. The purchase method of accounting is used to account for the acquisition of subsidiaries by the Group. The cost of an acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the acquisition. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at the fair values at the acquisition date, irrespective of the extent of any minority interest. The excess of the cost of acquisition over the fair value of the Group’s share of the identifiable net assets acquired is recorded as goodwill. All intra-group balances, transactions, income and expenses and profits and losses resulting from intra-group transactions that are recognised in assets, are eliminated in full. The financial statements of the subsidiaries are prepared for the same reporting year as the Parent Company, using consistent accounting policies. The financial statements have been prepared under historical cost convention. The entities that have been consolidated within these financial statements include: Entity name Principal activity Domicile Ownership Metro Cars Limited Supply and distribution of England 100% electric motor vehicles Metro Vans Limited Dormant England 100% Park Electric Dormant England 100% Limited Foreign currency Transactions in foreign currencies are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. Revenue recognition Revenue represents the amounts derived from the sale of goods during the year stated net of Value Added Tax. Sales are recognised in the profit and loss account and recorded as sales upon the delivery of goods to customers. Segmental reporting A business segment is a group of assets and operations engaged in providing products or services that are subject to risks and returns that are different from those of other business segments. A geographical segment is engaged in providing products or services within a particular economic environment that are subject to risks and returns that are different from those of segments operating in other economic segments. Research and development Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the Group is expected to benefit. Investments Fixed asset investments are stated at cost less provision for diminution in value. Stock Stock is valued at the lower of cost and net realisable value. Fixed assets Fixed assets are stated at cost, excluding the costs of day to day servicing, less accumulated depreciation and accumulated impairment in value. Such costs include the cost of replacing part of the asset when that cost is incurred, if the recognition criteria are met. Depreciation is calculated on a straight-line basis over the useful life of the assets, which are as follows: Vehicles and machinery – 4 years Fixed assets are derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the profit and loss account in the year the asset is derecognised. Taxation The charge for taxation is based on the results for the year adjusted for items which are tax exempt or are not tax deductible. Tax is calculated using rates that have been enacted or substantively enacted by the balance sheet date. Deferred taxation Deferred taxation is provided on the comprehensive basis computed as the difference between the tax base and carrying amounts of assets and liabilities. Deferred tax liabilities are recognised for all taxable temporary differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which the deductible temporary difference can be utilised. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the assets is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the balance sheet date. 3 Operating loss Operating loss is stated after charging: 2009 2008 GBP GBP Directors’ emoluments Emoluments for qualifying services 24,000 23,000 Auditors’ remuneration – audit services 4,025 300 Depreciation of owned assets 925 – Adviser and listing fees 16,627 38,446 4 Taxation 2009 2008 GBP GBP Current tax charge – – ———— ———— – – ======= ======= No provision for tax has been made as the Group has an estimated tax loss of GBP198,598 (2008: GBP139,088). The deferred tax asset arising on these losses has not been provided as the directors cannot satisfy themselves that the losses will be relieved within the next 12 months. 5 Earnings per share The calculation of basic loss per Ordinary Share of GBP0.032 (2008: GBP0.078) each is based upon the losses after taxation for the year of GBP56,735 (2008: GBP139,980) and the weighted average number of Ordinary Shares in issue during the year of 177,575,342 (2008: 175,000,000). The calculation of diluted earnings per Ordinary Share is based upon the losses after taxation for the year of GBP56,735 (2008: GBP139,980). Reconciliation between the shares used in calculating Basic and Diluted earnings per Ordinary Share is as follows: 2009 2008 GBP GBP Average shares used in basis 177,575,342 175,000,000 earnings per share calculation Potential Ordinary Shares 30,000,000 50,000,000 outstanding —————- —————- 207,575,342 225,000,000 ========= ========= 6 Dividends The directors propose no dividend to be paid for the year (2008: GBPnil). 7 Debtors Group Company Group Company 2009 2009 2008 2008 GBP GBP GBP GBP Amounts owed – 9,623 – – by subsidiary undertakings Other debtors 6 – 4,361 4,361 VAT 750 – – – recoverable Prepayments 4,871 4,871 5,821 5,821 ————- ————- ————- ————- 5,627 14,494 10,182 10,182 ======= ======= ======= ======= 8 Creditors: amounts falling due within one year Group Company Group Company 2009 2009 2008 2008 GBP GBP GBP GBP Trade 13,668 1,607 17,950 17,950 creditors Other 758 758 758 758 creditors Accruals and 15,738 15,738 1,440 1,440 deferred income ————- ————- ————- ————- 30,164 18,103 20,148 20,148 ======= ======= ======= ======= Read Less
Holding(s) in Company	09/11/2009	TIDMMEPT METROELECTRIC PLC On 6th November 2009, Metroelectric issued 25,000,000 (twenty five million) new ordinary shares of 0.1p each in the Company (`Ordinary Shares’) pursuant to the exercise of warrants at a price of 0.1p by Crossfield Investments Ltd. The new shares will be issued, allotted and will rank pari passu with the existing Ordinary… Read More TIDMMEPT METROELECTRIC PLC On 6th November 2009, Metroelectric issued 25,000,000 (twenty five million) new ordinary shares of 0.1p each in the Company (`Ordinary Shares’) pursuant to the exercise of warrants at a price of 0.1p by Crossfield Investments Ltd. The new shares will be issued, allotted and will rank pari passu with the existing Ordinary Shares of 0.1p each in the Company. Following the exercise of warrants, the enlarged issued share capital of the Company is 225,000,000 (two hundred and twenty five million) Ordinary Shares. The director’s shareholding is now 0.44% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Read Less
Holding(s) in Company	01/10/2009	TIDMMEPT METROELECTRIC PLC On 1st October 2009, Metroelectric issued 5,000,000 (five million) new ordinary shares of 0.1p each in the Company (`Ordinary Shares’) pursuant to the exercise of warrants at a price of 0.1p by 1st Nominee Ltd. The new shares will be issued, allotted and will rank pari passu with the existing Ordinary Shares… Read More TIDMMEPT METROELECTRIC PLC On 1st October 2009, Metroelectric issued 5,000,000 (five million) new ordinary shares of 0.1p each in the Company (`Ordinary Shares’) pursuant to the exercise of warrants at a price of 0.1p by 1st Nominee Ltd. The new shares will be issued, allotted and will rank pari passu with the existing Ordinary Shares of 0.1p each in the Company. Following the exercise of warrants, the enlarged issued share capital of the Company is 200,000,000 (two hundred million) Ordinary Shares. The director’s shareholding is now 0.5% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Product Launch	12/06/2009	TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) is pleased to announce that the first demonstrator Crossrider has arrived in the UK. The company is looking forward to marketing this 100% electric, road legal ATV (all terrain vehicle). A network of dealerships will be appointed to provide sales & service support for the vehicles. For further… Read More TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) is pleased to announce that the first demonstrator Crossrider has arrived in the UK. The company is looking forward to marketing this 100% electric, road legal ATV (all terrain vehicle). A network of dealerships will be appointed to provide sales & service support for the vehicles. For further Crossrider details, please visit: www.crossrider.co.uk The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Holding(s) in Company	11/06/2009	TIDMMEPT METROELECTRIC PLC On 8th June 2009, Metroelectric issued 10,000,000 (ten million) new ordinary shares of 0.1p each in the Company (`Ordinary Shares’) pursuant to the exercise of warrants at a price of 0.1p by 1st Nominee Ltd. The new shares will be issued, allotted and will rank pari passu with the existing Ordinary Shares… Read More TIDMMEPT METROELECTRIC PLC On 8th June 2009, Metroelectric issued 10,000,000 (ten million) new ordinary shares of 0.1p each in the Company (`Ordinary Shares’) pursuant to the exercise of warrants at a price of 0.1p by 1st Nominee Ltd. The new shares will be issued, allotted and will rank pari passu with the existing Ordinary Shares of 0.1p each in the Company. Following the exercise of warrants, the enlarged issued share capital of the Company is 195,000,000 (one hundred and ninety five million) Ordinary Shares. The director’s shareholding is now 0.51% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Disposal	29/05/2009	TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 1,180,000 shares. Their holding in the Company is now 33,442,443 shares, representing 18.07% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance… Read More TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 1,180,000 shares. Their holding in the Company is now 33,442,443 shares, representing 18.07% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Result of Meeting	13/05/2009	TIDMMEPT METROELECTRIC PLC At a board meeting on the 12th May 2009, Metroelectric plc (‘The Company’) granted options to Greg Collier to subscribe for up to 4,625,000 Ordinary Shares of 0.1p each (“Ordinary Shares”) at a strike price of 1p. The Company granted options to Adrian Gleave to subscribe for up to 4,625,000 Ordinary Shares… Read More TIDMMEPT METROELECTRIC PLC At a board meeting on the 12th May 2009, Metroelectric plc (‘The Company’) granted options to Greg Collier to subscribe for up to 4,625,000 Ordinary Shares of 0.1p each (“Ordinary Shares”) at a strike price of 1p. The Company granted options to Adrian Gleave to subscribe for up to 4,625,000 Ordinary Shares at a strike price of 1p. The options referred to above, together with 1,000,000 Ordinary Shares owned by Mr Collier, represents the only interests of the two directors Messrs Collier and Gleave in shares of the company. The Company also granted options to Orange Corporate Finance Ltd to subscribe for up to 9,250,000 Ordinary Shares at a strike price of 1.25p. Each of the options referred to above lapses on 12th May 2012 or, if earlier, six months after the date the grantee ceases to be a director of the Company (or, in the case of Orange Corporate Finance, a corporate adviser to the Company). The Directors of the Company accept responsibility for this announcement. Enquiries Metroelectric plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Holding(s) in Company	28/04/2009	TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 67,557 shares. Their holding in the Company is now 34,622,443 shares, representing 18.71% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance… Read More TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 67,557 shares. Their holding in the Company is now 34,622,443 shares, representing 18.71% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Issue of Equity	21/04/2009	TIDMMEPT METROELECTRIC PLC On 21st April 2009, Metroelectric issued 10,000,000 (ten million) new ordinary shares of 0.1p each in the Company (`Ordinary Shares’) pursuant to the exercise of warrants at a price of 0.1p by 1st Nominee Ltd. The new shares will be issued, allotted and will rank pari passu with the existing Ordinary Shares… Read More TIDMMEPT METROELECTRIC PLC On 21st April 2009, Metroelectric issued 10,000,000 (ten million) new ordinary shares of 0.1p each in the Company (`Ordinary Shares’) pursuant to the exercise of warrants at a price of 0.1p by 1st Nominee Ltd. The new shares will be issued, allotted and will rank pari passu with the existing Ordinary Shares of 0.1p each in the Company. Following the issue of these shares, the enlarged issued share capital of the Company is 185,000,000 (one hundred and eighty five million) Ordinary Shares. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Holding(s) in Company	08/04/2009	TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 9,310,000 shares. Their holding in the Company is now 34,690,000 shares, representing 19.82% of the issued share capital. The Company also received notification that Ashwillow Ltd has sold their entire holding. The Directors of the Company accept responsibility for… Read More TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 9,310,000 shares. Their holding in the Company is now 34,690,000 shares, representing 19.82% of the issued share capital. The Company also received notification that Ashwillow Ltd has sold their entire holding. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Holding(s) in Company	08/04/2009	TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 9,310,000 shares. Their holding in the Company is now 34,690,000 shares, representing 19.82% of the issued share capital. The Company also received notification that Ashwillow Ltd has sold their entire holding. The Directors of the Company accept responsibility for… Read More TIDMMEPT METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 9,310,000 shares. Their holding in the Company is now 34,690,000 shares, representing 19.82% of the issued share capital. The Company also received notification that Ashwillow Ltd has sold their entire holding. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Half-yearly report	31/03/2009	TIDMMEPT METROELECTRIC PLC INTERIM RESULTS Chairman’s Statement I am pleased to present the interim results for the company up to 31st December 2008. These interim figures have not been reviewed by the company auditors. As recently announced Metroelectric are proceeding with the distribution of the Comarth Crossrider and this will be marketed through the company… Read More TIDMMEPT METROELECTRIC PLC INTERIM RESULTS Chairman’s Statement I am pleased to present the interim results for the company up to 31st December 2008. These interim figures have not been reviewed by the company auditors. As recently announced Metroelectric are proceeding with the distribution of the Comarth Crossrider and this will be marketed through the company website imminently. The company expects to raise a small amount of new funds through warrant holders exercising their rights. We hope to be in a position to make a further announcement in the near future. Greg Collier Chairman METROELECTRIC PLC UNAUDITED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31 DECEMBER 2008 Unaudited for the Audited for the 6 months ended 31 period ended 30 December 2008 June 2008 GBP GBP Administrative expenses (26,041) (136,980) ————– ————– Loss on ordinary activities before taxation (26,041) (136,980) Tax on loss on ordinary activities – – ————– ————– Loss for the period (26,041) (136,980) The profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the profit and loss account. METROELECTRIC PLC UNAUDITED BALANCE SHEET AS AT 31 DECEMBER 2008 Unaudited as at Audited as at 30th June 31 December 2008 2008 GBP GBP GBP GBP Current assets Stocks 5,000 5,000 Debtors 2,300 10,182 Cash at bank and in hand 22,600 40,878 ————– ————– 29,900 56,060 Creditors: amounts falling due within one year (20,030) (20,148) ————– ————– Total assets less current liabilities 9,870 35,912 Capital and reserves Called up share capital 175,000 175,000 Profit and loss account (165,130) (139,088) ————– ————– Shareholders’ funds 9,870 35,912 The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Re Contract	12/02/2009	Re Contract METROELECTRIC PLC The company is pleased to announce that through its wholly owned subsidiary Metrocars Ltd., it has agreed a deal to exclusively distribute an electric vehicle known as ‘Crossrider’ in the UK and Eire. The car is EC approved for road use, assembled in Spain and is also suited for off road… Read More Re Contract METROELECTRIC PLC The company is pleased to announce that through its wholly owned subsidiary Metrocars Ltd., it has agreed a deal to exclusively distribute an electric vehicle known as 'Crossrider' in the UK and Eire. The car is EC approved for road use, assembled in Spain and is also suited for off road conditions. Demonstration vehicles are on order and we look forward to their arrival in the UK soon. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Re Agreement	12/02/2009	Re Agreement METROELECTRIC PLC The company is pleased to announce that through its wholly owned subsidiary Metrocars Ltd., it has agreed a deal to exclusively distribute an electric vehicle known as ‘Crossrider’ in the UK and Eire. The car is EC approved for road use, assembled in Spain and is also suited for off road… Read More Re Agreement METROELECTRIC PLC The company is pleased to announce that through its wholly owned subsidiary Metrocars Ltd., it has agreed a deal to exclusively distribute an electric vehicle known as 'Crossrider' in the UK and Eire. The car is EC approved for road use, assembled in Spain and is also suited for off road conditions. Demonstration vehicles are on order and we look forward to their arrival in the UK soon. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Holding(s) in Company	08/01/2009	Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 1,340,000 shares. Their holding in the Company is now 47,179,172 shares, representing 26.96% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange… Read More Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the "Company") today received notification that Crossfield Investments Ltd has sold 1,340,000 shares. Their holding in the Company is now 47,179,172 shares, representing 26.96% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Holding(s) in Company	06/01/2009	Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 1,000,000 shares. Their holding in the Company is now 48,519,172 shares, representing 27.73% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange… Read More Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the "Company") today received notification that Crossfield Investments Ltd has sold 1,000,000 shares. Their holding in the Company is now 48,519,172 shares, representing 27.73% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Holding(s) in Company	30/12/2008	Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 1,650.000 shares. Their holding in the Company is now 49,519,172 shares, representing 28.3% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange… Read More Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the "Company") today received notification that Crossfield Investments Ltd has sold 1,650.000 shares. Their holding in the Company is now 49,519,172 shares, representing 28.3% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
AGM Statement	08/12/2008	AGM Statement Metroelectric plc Announcements and details relating to the AGM and GM Metroelectric plc NOTICE OF ANNUAL GENERAL MEETING AND GENERAL MEETING Metroelectric plc (“Company”) announces that it has written to shareholders convening the Annual General Meeting (AGM) and General Meeting (GM) to be held at the offices of Fasken Martineau LLP, 17 Hanover… Read More AGM Statement Metroelectric plc Announcements and details relating to the AGM and GM Metroelectric plc NOTICE OF ANNUAL GENERAL MEETING AND GENERAL MEETING Metroelectric plc ("Company") announces that it has written to shareholders convening the Annual General Meeting (AGM) and General Meeting (GM) to be held at the offices of Fasken Martineau LLP, 17 Hanover Square, London W1S 1HU on 30 December 2008 at 10.30 am for considering the following business:- AS ORDINARY BUSINESS OF ANNUAL GENERAL MEETING Considering and if thought fit passing the following resolutions which will be proposed as ordinary resolutions: 1. To receive and adopt the Directors' Report and Accounts for the year ended 30 June 2008. 2. To reappoint C J Driscoll as auditors to hold office until conclusion of the next meeting at which the accounts are laid before the Company at remuneration to be determined by the directors. 3. To re-elect Greg Collier as a director retiring pursuant to Article 118 of the Company's Articles of Association. 4. To re-elect Adrian Gleave as a director retiring pursuant to Article 96 of the Company's Articles of Association. GENERAL MEETING In accordance with s142 Companies Act 1985 the Directors are required to convene a meeting of shareholders as the Company's net assets are less than half its paid-up share capital as set out in the Company's accounts and to consider whether any, and if so what, steps should be taken to deal with the situation. The Directors' intentions with regard to the Company's future are set out in the Chairman's Statement forming part of the Accounts. The Directors do not consider any further steps are necessary beyond following the strategy described in that statement. Notes 1. Copies of the notice of meeting and the accompanying circular, together with the Directors' report and financial statements for the period from incorporation to 30 June 2008 will, for a period of one month from the date of this announcement be available for inspection free of charge during usual business hours at the registered office of the Company, c/o Fasken Martineau LLP, 17 Hanover Square, London W1S 1HU. 2. Shareholders are entitled to appoint one or more proxy or proxies to attend the meeting, speak and vote on their behalf. A proxy need not be a member of the Company. Appointment of a proxy will not preclude the appointing shareholder from attending the meeting. 3. To be valid, proxies should be correctly completed and received at the Company's registrar, Share Registrars Limited at Suite E, First Floor, 9 Lion and Lamb Yard, Farnham, Surrey GU9 7LL, not later than 10.30 am on Sunday 28 December 2008. 4. Further information regarding proxies is set out in the letter sent to shareholders today. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Holding(s) in Company	08/12/2008	Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that Crossfield Investments Ltd has sold 1,330,828 shares. Their holding in the Company is now 51,169,172 shares, representing 29.24% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange… Read More Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the "Company") today received notification that Crossfield Investments Ltd has sold 1,330,828 shares. Their holding in the Company is now 51,169,172 shares, representing 29.24% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Annual report & accounts	28/11/2008	Annual report & accounts METROELECTRIC PLC AUDITED RESULTS FOR THE PERIOD ENDED 30th JUNE 2008 Chairman’s Statement INTRODUCTION The Board is pleased to present the results for Metroelectric plc (“the Company”) for the year ended 30th June 2008. The Company was established by the Directors as a PLUS Markets Investment Vehicle seeking acquisition targets in… Read More Annual report & accounts METROELECTRIC PLC AUDITED RESULTS FOR THE PERIOD ENDED 30th JUNE 2008 Chairman's Statement INTRODUCTION The Board is pleased to present the results for Metroelectric plc ("the Company") for the year ended 30th June 2008. The Company was established by the Directors as a PLUS Markets Investment Vehicle seeking acquisition targets in the information sector. On the 26th November 2007 a resolution to change the name of the company to Metroelectric plc (previously Metrocapital Information plc) was passed and the scope of the business changed to allow the Company to invest or trade in the eco-friendly products and technologies sector. The Directors believe this to be an area of growth. RESULTS The Company achieved a loss for the year up to 30 June 2008 of -ú136,980 largely as a result of listing and administration expenses. Loss per ordinary share amounted to 0.078p in the period REVIEW On the 21st July 2008 the Company announced that it had signed a letter of intent with a German car company to exclusively distribute their electric vehicle in the UK/Eire and discussions are continuing. In addition, we are in negotiations with a number of other electric vehicle manufacturers in Europe and the Far East and expect to make a further announcement shortly. The Company is aware of its need to generate income but will only commit to product that is viable. The Company continues to actively pursue potential investments and suitable acquisition targets in this sector. The Board is continuing to evaluate further possibilities and will keep shareholders informed of any developments. Greg Collier Chairman 28th November 2008 Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 METROELECTRIC PLC PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 2008 Period Period ended ended 30 June 30 June 2008 2007 Notes -ú -ú Administrative expenses (136,980) (2,108) -------------- -------------- Loss on ordinary activities 2 (136,980) (2,108) before taxation Tax on loss on ordinary 3 - - activities -------------- -------------- Loss for the year 7 (136,980) (2,108) -------------- -------------- Basic and diluted loss per (0.078)p (0.0012)p share (Pence) -------------- -------------- The profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the profit and loss account. METROELECTRIC PLC BALANCE SHEET AS AT 30 JUNE 2008 2008 2007 Notes -ú -ú -ú -ú Current assets Stocks 5,000 - Debtors 6 10,182 23,625 Cash at bank and in hand 40,878 151,064 -------------- -------------- 56,060 174,689 Creditors: amounts falling due within one year 7 (20,148) (1,797) -------------- -------------- Total assets less current liabilities 35,912 172,892 -------------- -------------- Capital and reserves Called up share capital 8 175,000 175,000 Profit and loss account 9 (139,088) (2,108) -------------- -------------- Shareholders' funds 10 35,912 172,892 -------------- -------------- METROELECTRIC PLC CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2008 Period Period ended ended 30 June 30 June 2008 2007 -ú -ú -ú -ú Net cash outflow from operating activities (110,186) (23,936) -------------- -------------- Net cash outflow before management of liquid resources and financing (110,186) (23,936) Financing Issue of ordinary share capital - 175,000 Net cash (outflow)/inflow from financing - 175,000 -------------- -------------- (Decrease)/increase in cash in the year (110,186) 151,064 -------------- -------------- NOTES TO THE CASH FLOW STATEMENT Reconciliation of operating loss to net cash 1 outflow from operating activities 2008 2007 -ú -ú Operating loss (136,980) (2,108) (Increase)/decrease in stocks (5,000) - Decrease/(increase) in debtors 13,443 (23,625) Increase in creditors within one year 18,351 1,797 -------------- ------------- Net cash outflow from operating activities (110,186) (23,936) -------------- ------------- Other non- Analysis of net cash 30 June 2 funds 1 July 2007 Cash flow changes 2008 -ú -ú -ú -ú Net cash: Cash at bank and in hand 151,064 (110,186) - 40,878 -------------- -------------- -------------- -------------- Bank deposits - - - - Net funds 151,064 (110,186) - 40,878 -------------- -------------- -------------- -------------- Reconciliation of net cash flow to movement in 3 net funds 2008 2007 -ú -ú (Decrease)/increase in cash in the year (110,186) 151,064 -------------- -------------- Movement in net funds in the year (110,186) 151,064 Opening net funds 151,064 - -------------- -------------- Closing net funds 40,878 151,064 -------------- -------------- NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2008 1 Accounting policies 1.1 Accounting convention The financial statements are prepared under the historical cost convention. 1.2 Compliance with accounting standards The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated). 2 Operating loss 2008 2007 -ú -ú Operating loss is stated after charging: Auditors' remuneration 300 294 Directors' emoluments 23,000 - -------------- -------------- 3 Taxation 2008 2007 Current tax charge - - -------------- -------------- Factors affecting the tax charge for the year Loss on ordinary activities (136,980) (2,108) before taxation -------------- -------------- 4 Dividends The directors have not voted a dividend during the year. 5 Loss per share 2008 2007 Weighted average ordinary shares in issue during the 175,000,000 175,000,000 period Loss attributable to 0.078p 0.0012p shareholders: Continuing operations -------------- -------------- The calculation of loss per ordinary share is based on the loss after tax and the weighted average number of ordinary shares in issue during the period. Given the Company's loss for the period, the diluted loss per share is the same as the basic loss per share. 6 Debtors 2008 2007 -ú -ú Other debtors and prepayments 10,182 23,625 -------------- -------------- Creditors: amounts falling due 7 within one year 2008 2007 -ú -ú Trade Creditors 17,950 - Other creditors 2,198 1,797 -------------- -------------- 20,148 1,797 -------------- -------------- 8 Share capital 2008 2007 -ú -ú Authorised 10,000,000,000 Ordinary shares of 0.001p each 10,000,000 10,000,000 -------------- -------------- Allotted, called up and fully paid 175,000,000 Ordinary shares of 0.001p each 175,000 175,000 -------------- -------------- 9 Statement of movements on profit and loss account Profit and loss account -ú Balance at 1 July 2007 (2,108) Loss for the year (136,980) -------------- Balance at 30 June 2008 (139,088) -------------- Reconciliation of movements in 10 shareholders' funds 2008 2007 -ú -ú Loss for the financial year (136,980) (2,108) Proceeds from issue of shares - 175,000 -------------- -------------- Net (depletion in)/addition to shareholders' funds (136,980) 172,892 Opening shareholders' funds 172,892 - -------------- -------------- Closing shareholders' funds 35,912 172,892 -------------- -------------- 11 Approval of Audited Accounts The financial information set out above, does not constitute full accounts within the meaning of Section 240 of the Companies Act 1985 ('the Act'), were approved by the Board of Directors on 27th November 2008. The audited accounts for the Company for the year, received an unqualified auditors' report within the meaning of Section 235 of the Act. Read Less
Holding(s) in Company	13/11/2008	Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the “Company”) today received notification that European Pension Management Ltd acquired 8,538,943 shares. Mr. S. Jones is the beneficiary of the pension fund and this holding represents 4.879% of the issued share capital. The company also received notification that Gordon Maclean has sold 9,940,000 shares. This represents his… Read More Holding(s) in Company METROELECTRIC PLC Metroelectric Plc (the "Company") today received notification that European Pension Management Ltd acquired 8,538,943 shares. Mr. S. Jones is the beneficiary of the pension fund and this holding represents 4.879% of the issued share capital. The company also received notification that Gordon Maclean has sold 9,940,000 shares. This represents his entire holding in the company. The company also received notification that Ashwillow Ltd has sold 20,000,000 shares. Their holding in the company is now 22,500,000 shares, representing 12.857% of the issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Director/PDMR Shareholding	24/09/2008	Director/PDMR Shareholding METROELECTRIC PLC Correction – Directors Dealings Further to yesterday’s announcement, the transaction price was at 1p per share and the date of the transaction was 23rd September 2008. The full amended announcement is below. The Board of Metroelectric PLC (‘the company’) announces that Greg Collier, Chairman purchased 1,000,000 ordinary shares in the company… Read More Director/PDMR Shareholding METROELECTRIC PLC Correction - Directors Dealings Further to yesterday's announcement, the transaction price was at 1p per share and the date of the transaction was 23rd September 2008. The full amended announcement is below. The Board of Metroelectric PLC ('the company') announces that Greg Collier, Chairman purchased 1,000,000 ordinary shares in the company at 1p per share on 23rd September 2008. The total number of shares in issue is 175,000,000 and this purchase represents 0.57% per cent of the total shares in issue. The Directors' shareholding is now 1,000,000 shares representing 0.57% of the total shares in issue. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Director/PDMR Shareholding	23/09/2008	Director/PDMR Shareholding DIRECTORS HOLDINGS The Board of Metroelectric PLC (‘the company’) announces that Greg Collier, Chairman has purchased 1,000,000 ordinary shares in the company. The total number of shares in issue is 175,000,000 and this purchase represents 0.57% per cent of the total shares in issue. The Directors’ shareholding is now 1,000,000 shares representing 0.57%… Read More Director/PDMR Shareholding DIRECTORS HOLDINGS The Board of Metroelectric PLC ('the company') announces that Greg Collier, Chairman has purchased 1,000,000 ordinary shares in the company. The total number of shares in issue is 175,000,000 and this purchase represents 0.57% per cent of the total shares in issue. The Directors' shareholding is now 1,000,000 shares representing 0.57% of the total shares in issue. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Letter of Intent Signed	18/07/2008	Letter of Intent Signed METROELECTRIC PLC The company is pleased to announce that it has signed a letter of intent with a German Car Manufacturer to exclusively distribute their EEC approved electric cars in the UK and Eire. Contract formalities are to be finalised in the next 21 days. We expect to have a demonstrator… Read More Letter of Intent Signed METROELECTRIC PLC The company is pleased to announce that it has signed a letter of intent with a German Car Manufacturer to exclusively distribute their EEC approved electric cars in the UK and Eire. Contract formalities are to be finalised in the next 21 days. We expect to have a demonstrator car in the UK shortly and production models available from fourth quarter 2008. A further announcement will be made in due course. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0203 301 3356 Read Less
Disposal	23/05/2008	Disposal METROELECTRIC PLC The company has become aware that Mr. R. De Mendonca, sold his entire shareholding of 10,000,000 shares on the 28th of March 2008. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read More Disposal METROELECTRIC PLC The company has become aware that Mr. R. De Mendonca, sold his entire shareholding of 10,000,000 shares on the 28th of March 2008. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read Less
Statement re Share Price Movement	23/05/2008	Statement re Share Price Movement METROELECTRIC PLC The company is aware of recent price movements but knows of no reason for the fall in share price. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read More Statement re Share Price Movement METROELECTRIC PLC The company is aware of recent price movements but knows of no reason for the fall in share price. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read Less
Directorate change	09/05/2008	Directorate change METROELECTRIC PLC -á The Directors of Metroelectric are pleased to announce the appointment of Adrian Gleave to the board. Adrian (aged 37 years) created Intent21 Ltd in 2000, which developed into a high speed wholesale IP services and computer consumables supplier to the SME market. It is also a distributor for Linux based… Read More Directorate change METROELECTRIC PLC -á The Directors of Metroelectric are pleased to announce the appointment of Adrian Gleave to the board. Adrian (aged 37 years) created Intent21 Ltd in 2000, which developed into a high speed wholesale IP services and computer consumables supplier to the SME market. It is also a distributor for Linux based server software in the Middle East.-á Adrian is currently selling Intent21 Ltd to a NASDAQ quoted company and has been invited onto the board. In addition Adrian manages a residential property portfolio. The Board look forward to working with Adrian, including product development and maximising marketing opportunities for the Company. Due to unforeseen health problems Tim Walker has had to resign as Chairman. The company wish to thank Tim for his assistance and wish him well in the future. -á Greg Collier has agreed to act as Chairman. -á The Directors of the Company accept responsibility for this announcement. -á Enquiries: -á Metroelectric Plc -á Greg Collier -á Tel:-á 07830 182501 -á Orange Corporate Finance Ltd -á John Bridges -á Tel:-á 0207 312 6530 Read Less
Notice of Results	31/03/2008	Notice of Results METROELECTRIC PLC – INTERIM RESULTS Chairman’s Statement I am pleased to present the interim results for the company up to 31st December 2007. The company is now established to acquire and/or invest in the field of eco-friendly products and technologies. We are currently making progress in the area of electric vehicles. We… Read More Notice of Results METROELECTRIC PLC - INTERIM RESULTS Chairman's Statement I am pleased to present the interim results for the company up to 31st December 2007. The company is now established to acquire and/or invest in the field of eco-friendly products and technologies. We are currently making progress in the area of electric vehicles. We anticipate this sector to be an area of major growth as in our opinion, electric propulsion appears to be the most likely successor to the combustion engine. As electric vehicle technology is in its infancy, we are researching the market and ensuring the correct safety, EEC/UK legislation is met before we commit to a number of opportunities that we have developed. We hope to be in a position to make a further announcement in the near future. Metroelectric PLC was admitted to the PLUS market on 23rd July 2007 and the associated administrative costs are reflected in these figures. Tim Walker Chairman METROELECTRIC PLC UNAUDITED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31 DECEMBER 2007 Unaudited for the 6 Audited for the months ended 31 period ended 30th December 2007 June 2007 -ú -ú Turnover - - Administrative expenses (96,901) (2,108) -------------- -------------- Loss on ordinary activities before taxation (96,901) (2,108) Tax on loss on ordinary activities - - -------------- -------------- Loss for the period (96,901) (2,108) The profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the profit and loss account. METROELECTRIC PLC UNAUDITED BALANCE SHEET AS AT 31 DECEMBER 2007 Unaudited As At 31 As At 30 December 2007 June 2007 Notes -ú -ú Current assets Debtors 5,483 23,625 Cash at bank and in hand 72,081 151,064 -------------- -------------- 77,564 174,689 Creditors: amounts falling due within one year (1,573) (1,797) -------------- -------------- Total assets less current liabilities 75,991 172,892 Capital and reserves Called up share capital 175,000 175,000 Profit and loss account (99,009) (2,108) -------------- -------------- Shareholders' funds 75,991 172,892 The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read Less
Holding(s) in Company	07/03/2008	Holding(s) in Company METROELECTRIC PLC SHAREHOLDINGS IN THE COMPANY On 5th March 2008, Metroelectric Plc (the “Company”) received notification that European Pension Management Ltd acquired 12,000,000 shares. Mr D. Cope is the beneficiary of the pension fund, with 6.85% of the issued share capital. On 5th March 2008, Metroelectric Plc (the “Company”) received notification that… Read More Holding(s) in Company METROELECTRIC PLC SHAREHOLDINGS IN THE COMPANY On 5th March 2008, Metroelectric Plc (the "Company") received notification that European Pension Management Ltd acquired 12,000,000 shares. Mr D. Cope is the beneficiary of the pension fund, with 6.85% of the issued share capital. On 5th March 2008, Metroelectric Plc (the "Company") received notification that Mark More O'Ferrall has sold 20,000,000 shares. This represents his entire holding in the company. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 - ---END OF MESSAGE--- Read Less
Chairmans Statement	05/12/2007	METROELECTRIC PLC AUDITED RESULTS FOR THE PERIOD ENDED 30th JUNE 2007 CHAIRMAN’S STATEMENT I duly report the maiden results for the period ended 30 June 2007 of Metroelectric plc (“Metroelectric” or “the Company”), which was incorporated on 8th of June 2006. The company made a loss of GBP2,108.00. The company was listed on 23rd of… Read More METROELECTRIC PLC AUDITED RESULTS FOR THE PERIOD ENDED 30th JUNE 2007 CHAIRMAN'S STATEMENT I duly report the maiden results for the period ended 30 June 2007 of Metroelectric plc ("Metroelectric" or "the Company"), which was incorporated on 8th of June 2006. The company made a loss of GBP2,108.00. The company was listed on 23rd of July 2007 under the name Metrocapital Information plc. On 26th November 2007, the shareholders voted at a General Meeting to approve that the name of the Company be changed to Metroelectric plc and the scope of the business be changed to allow the Company to invest or trade in the eco-friendly products and technologies sector. The Company continues to actively pursue potential investments and suitable acquisition targets in this sector and also is in discussion with a number of Chinese electric vehicle manufacturers to become the European sole distributor for various electric vehicles. Chairman Tim Walker The Directors of the Company accept responsibility for this announcement. METROELECTRIC PLC CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 2007 2007 GBP Administrative expenses (2,108) ------- LOSS ON ORDINARYACTIVITES BEFORE TAXATION (2,108) Tax on loss on ordinary activities - ------- LOSS FOR THE PERIOD (2,108) ------- The profit and loss account has been prepared on the basis that all operations are continuing operations. There are no recognised gains and losses other than those passing through the profit and loss account. METROELECTRIC PLC BALANCE SHEET AS AT 30 JUNE 2007 2007 GBP GBP CURRENT ASSETS Debtors 23,625 Cash at bank and in hand 151,064 ------- 174,689 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (1,797) ------- TOTAL ASSETS LESS CURRENT LIABILITIES 172,892 ------- CAPITAL AND RESERVES Called up share capital 175,000 Profit and loss account (2,108) ------- SHAREHOLDER'S FUNDS 172,892 ------- Note: The information contained in the announcement is an abridged version of the Company's audited consolidated accounts. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read Less
Notice of Annual General Meeting	05/12/2007	Metroelectric plc Announcements and details relating to the AGM Metroelectric plc NOTICE OF ANNUAL GENERAL MEETING Metroelectric plc (“Company”) announces that it has written to shareholders convening the Annual General Meeting (AGM) to be held at the offices of Fasken Martineau Stringer Saul LLP, 17 Hanover Square, London W1S 1HU on 28 December 2007 at… Read More Metroelectric plc Announcements and details relating to the AGM Metroelectric plc NOTICE OF ANNUAL GENERAL MEETING Metroelectric plc ("Company") announces that it has written to shareholders convening the Annual General Meeting (AGM) to be held at the offices of Fasken Martineau Stringer Saul LLP, 17 Hanover Square, London W1S 1HU on 28 December 2007 at 11.00 am for considering the following business:- AS ORDINARY BUSINESS Considering and if thought fit passing the following resolutions which will be proposed as ordinary resolutions: 1. To receive and adopt the Directors' Report and Accounts for the period from incorporation to 30 June 2007. 2. To appoint C J Driscoll as auditors to hold office until conclusion of the next meeting at which the accounts are laid before the Company at a remuneration to be determined by the directors. AS SPECIAL BUSINESS Considering and if thought fit passing the following resolutions which will be proposed as to resolution 3 as a special resolution and as to resolutions 4 and 5 as ordinary resolutions 3. THAT: (a) The Articles of Association of the Company be and are hereby amended as follows: (i) By the insertion of a new article 120A as follows: "120A The directors may appoint a person who is willing to act to be a director, either to fill a vacancy or as an additional director, provided that the appointment does not cause the number of directors to exceed any number fixed by or in accordance with the articles as the maximum number of directors. A director so appointed shall hold office only until the next following annual general meeting and shall not be taken into account in determining the directors who are to retire by rotation at the meeting. If not reappointed at such annual general meeting, he shall vacate office at the conclusion thereof." (ii) By the deletion of the following sentence from Article 128: "Until otherwise determined, three persons present in person or by his alternate shall constitute a quorum." and the insertion in its place of the following: "Until otherwise determined, two persons present in person or by his alternate shall constitute a quorum; Provided Always that if by virtue of these Articles only one director shall be capable of being included in the quorum than that director shall himself constitute a quorum." (b) all steps taken by the boards of directors from time to time be and they are hereby ratified and confirmed to the extent that such actions may be defective by reason of the lack of a quorate board meeting or of any defects in the appointments of such directors. 4. That the appointment of Timothy Walker as a director of the Company be and is hereby approved ratified and confirmed and that the Company hereby approves ratifies and confirms all steps taken by the said Timothy Walker as a director notwithstanding any defect in his appointment. 5. That the appointment of Greg Collier as a director of the Company be and is hereby approved ratified and confirmed and that the Company hereby approves ratifies and confirms all steps taken by the said Greg Collier as a director notwithstanding any defect in his appointment. By Order of the Board First Nominees Secretaries Limited Secretary Dated 4 December 2007 Notes 1. Copies of the notice of meeting and the accompanying circular, together with the Directors' report and financial statements for the period from incorporation to 30 June 2007 will, for a period of one month from the date of this announcement be available for inspection free of charge during usual business hours at the registered office of the Company, c/o Fasken Martineau Stringer Saul LLP, 17 Hanover Square, London W1S 1HU. 2. Shareholders are entitled to appoint one or more proxy or proxies to attend the meeting, speak and vote on their behalf. A proxy need not be a member of the Company. Appointment of a proxy will not preclude the appointing shareholder from attending the meeting. 3. To be valid, proxies should be correctly completed and received at the Company's registrar, Share Registrars Limited at Craven House, West Street, Farnham, Surrey GU9 7EN, not later than 11.00 am on Monday 24 December 2007. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read Less
RESULT OF GENERAL MEETING	27/11/2007	METROELECTRIC PLC (formerly Metrocapital Information Plc) RESULT OF GENERAL MEETING (“GM”) The Directors are pleased to announce that at the GM held at 11 am on November 26, 2007, a special resolution was passed to change the Company name from Metrocapital Information Plc to Metroelectric Plc. The change of name has become effective today. All… Read More METROELECTRIC PLC (formerly Metrocapital Information Plc) RESULT OF GENERAL MEETING ("GM") The Directors are pleased to announce that at the GM held at 11 am on November 26, 2007, a special resolution was passed to change the Company name from Metrocapital Information Plc to Metroelectric Plc. The change of name has become effective today. All other resolutions were duly passed. The Directors of the Company accept responsibility for this announcement. Enquiries: Metroelectric Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read Less
NOTICE OF GENERAL MEETING	02/11/2007	Metrocapital Information Plc NOTICE OF GENERAL MEETING Metrocapital Information Plc (“Company”) announces that it has written to shareholders convening a General Meeting (GM) to be held at the offices of Orange Corporate Finance, 10 Orange Street, Haymarket, London WC2H 7DQ on 26 November 2007 at 11 am. The Directors are seeking shareholder approval that: … Read More Metrocapital Information Plc NOTICE OF GENERAL MEETING Metrocapital Information Plc ("Company") announces that it has written to shareholders convening a General Meeting (GM) to be held at the offices of Orange Corporate Finance, 10 Orange Street, Haymarket, London WC2H 7DQ on 26 November 2007 at 11 am. The Directors are seeking shareholder approval that: The name of the Company be changed to Metroelectric plc. *The scope of the business be changed to allow the Company to invest or trade in the eco-friendly products and technologies sector. One example might be that of electric vehicles. Recent technology has enabled electric vehicles to offer an alternative to the combustion engine whilst reducing the carbon footprint. Additionally, latest battery technology has increased performance, given greater mileage and reduced charging times. The Directors believe this to be an area of growth. No other business will be transacted at the GM. The Directors of the Company accept responsibility for this announcement. Enquiries: Metrocapital Information Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read Less
Reduction in Shareholding	24/10/2007	METROCAPITAL INFORMATION PLC HOLDINGS IN COMPANY Ashwillow Ltd. has advised the Board of Metrocapital Information Plc that it has sold 7,500,000 ordinary shares in the Company. Accordingly, Ashwillow Ltd. now holds 42,500,000 ordinary shares in the company, representing 24.29% of the total issued share capital. The Directors of the Company accept responsibility for this announcement…. Read More METROCAPITAL INFORMATION PLC HOLDINGS IN COMPANY Ashwillow Ltd. has advised the Board of Metrocapital Information Plc that it has sold 7,500,000 ordinary shares in the Company. Accordingly, Ashwillow Ltd. now holds 42,500,000 ordinary shares in the company, representing 24.29% of the total issued share capital. The Directors of the Company accept responsibility for this announcement. Enquiries: Metrocapital Information Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read Less
APPOINTMENT OF PLUS CORPORATE ADVISER	04/10/2007	Metrocapital Information Plc APPOINTMENT OF PLUS CORPORATE ADVISER The Board of Metrocapital Information Plc (“Company”) is pleased to announce the appointment of Orange Corporate Finance Ltd as the Company’s PLUS Corporate Adviser with immediate effect. The Directors of the Company accept responsibility for this announcement. Enquiries: Metrocapital Information Plc Greg Collier Tel: 07830 182501 Orange… Read More Metrocapital Information Plc APPOINTMENT OF PLUS CORPORATE ADVISER The Board of Metrocapital Information Plc ("Company") is pleased to announce the appointment of Orange Corporate Finance Ltd as the Company's PLUS Corporate Adviser with immediate effect. The Directors of the Company accept responsibility for this announcement. Enquiries: Metrocapital Information Plc Greg Collier Tel: 07830 182501 Orange Corporate Finance Ltd John Bridges Tel: 0207 312 6530 Read Less
Change of Directors and Resignation of Advisor	13/09/2007	Newstrack Announcements * September 2007 METROCAPITAL INFORMATION PLC CHANGE OF DIRECTORS AND RESIGNATION OF CORPORATE ADVISOR Metrocapital Information plc (“Metrocapital” or “the Company”) wishes to announce that Gregory Collier and Timothy Walker have been appointed to the board of directors. Greg (age 46) has been involved in running businesses for the last 28 years in… Read More Newstrack Announcements * September 2007 METROCAPITAL INFORMATION PLC CHANGE OF DIRECTORS AND RESIGNATION OF CORPORATE ADVISOR Metrocapital Information plc ("Metrocapital" or "the Company") wishes to announce that Gregory Collier and Timothy Walker have been appointed to the board of directors. Greg (age 46) has been involved in running businesses for the last 28 years in contract cleaning, catering, leisure, restaurant and property. More recently he has been involved in building a toy distribution business. Greg brings knowledge of international trade, marketing, wholesale distribution and business management. Greg has held the following directorships during the past five years: PRESENT PREVIOUS Quick Marketing Ltd Winterway Investments Limited Iver Heath Properties Ltd Chessington Limited Red Robin Properties Ltd Rick Properties Ltd RQP Ltd Corplus Ltd Quick Toys And Games Plc Tim (age 56) who will become Chairman of the company has over 25 years experience in the city of London, initially with stockbrokers Shaw and Co, seventeen years with Merrill Lynch and two years with GNI. Tim brings a wealth of experience and connections, Apart from his current directorships he also runs the Dubai Thoroughbred Racing Partnership. Tim has held the following directorships during the past five years: PRESENT PREVIOUS Alphaworx plc None G J West Limited There are no other matters which are required to be announced pursuant to Paragraph 18 of Appendix 1 of the PLUS Markets "Rules for Issuers". Subsequent to the appointment of Greg Collier and Timothy Walker the two incumbent directors, Gordon Maclean and Jonathon De Mendonca, have resigned as directors of the Company to pursue their own business interests. We wish to thank both Gordon and Jonathon for their assistance in obtaining admission of the Company's securities to PLUS Markets. As a result of the change of board Alfred Henry Corporate Finance Limited have resigned as Corporate Advisor to the Company. We expect to make an announcement imminently regarding the appointment of a new Corporate Advisor. The new Directors of the Issuer accept responsibility for this announcement. FOR FURTHER INFORMATION PLEASE CONTACT: Gregory Collier, Director Metrocapital Information Plc Tel: 07830-182501 Read Less
Reduction in Shareholding	08/08/2007	Newstrack Announcements 8 August 2008 METROCAPITAL INFORMATION PLC Share Sale by Substantial Shareholder Ashwillow Limited Transaction Type: Sale Number of Shares: 2,500,000 Date of transaction: 25 July 2007 Date Received Notification: 26 July 2007 Number of Shares now held: 50,000,000 Percentage Holding: 28.6% The Directors of the Issuer accept responsibility for this announcement. FOR FURTHER… Read More Newstrack Announcements 8 August 2008 METROCAPITAL INFORMATION PLC Share Sale by Substantial Shareholder Ashwillow Limited Transaction Type: Sale Number of Shares: 2,500,000 Date of transaction: 25 July 2007 Date Received Notification: 26 July 2007 Number of Shares now held: 50,000,000 Percentage Holding: 28.6% The Directors of the Issuer accept responsibility for this announcement. FOR FURTHER INFORMATION PLEASE CONTACT: Gordon Maclean, Director Metrocapital Information Plc Tel: 0870 365 8000 Jon Isaacs Alfred Henry Corporate Finance Limited Tel: 020 7251 3762 Read Less
Start of Trading on PLUS Markets	23/07/2007	METROCAPITAL INFORMATION PLC ADMISSION ANNOUNCEMENT The Directors of Metrocapital Information Plc (“the Company”) are pleased to announce that the Company’s shares have commenced trading on PLUS Markets (“PLUS”) today. The Company is classified under Section 87 of the FTSE Global Classification System, Speciality and Other Finance. Metrocapital Information plc is a company established by the… Read More METROCAPITAL INFORMATION PLC ADMISSION ANNOUNCEMENT The Directors of Metrocapital Information Plc ("the Company") are pleased to announce that the Company's shares have commenced trading on PLUS Markets ("PLUS") today. The Company is classified under Section 87 of the FTSE Global Classification System, Speciality and Other Finance. Metrocapital Information plc is a company established by the Directors as a PLUS Markets Investment Vehicle. The Directors believe that there are a number of potentially attractive investment opportunities in the information and communications sector and have therefore obtained a PLUS Markets listing for this new investment company that will look to make acquisitions in the sector. The Company has admitted its entire issued share capital of 175,000,000 Ordinary shares of GBP 0.001, each of which were issued at par to the current shareholders to raise funds of GBP175,000. Pursuant to a warrant instrument dated 6 November 2006, the Company has granted Warrants to the following persons: Name Number of Warrants REL SA 25,000,000 David Gordon MacLean 10,000,000 Richard James Armstrong 2,500,000 Rudolph de Mendonca 10,000,000 Jonathon James Bellew de Mendonca 2,500,000 Jonathon de Mendonca and the Company have agreed that his directors fees for the first twelve months following Admission (GBP9,000) are to be satisfied by the issue to him of 9,000,000 Warrants. The warrants entitle the registered holder to subscribe for one Ordinary Share at 0.1p at any time up to the third anniversary of Admission. INVESTMENT STRATEGY The Directors' investment criteria are that: - the acquisition opportunity will be in the business of the information and communications industry; - the target should be profitable or have significant asset value and may have opportunities for consolidation or further development. The Directors will, on an exceptional basis, also consider loss-making targets where, in the Directors' opinion, there is a clear opportunity to develop a profitable and attractive business; and - the owners of the business should accept part or all of the consideration for any acquisition in new Ordinary Shares or other securities to be issued by the Company. While the Directors expect to concentrate their efforts in the UK, a broader range of potential targets may be considered should appropriate opportunities arise. The acquisition of the business is expected to be made by way of a reverse takeover, at which time the Company will, as soon as possible, send an explanatory circular to its shareholders. The circular will contain all information reasonably required to carry out an informed assessment of the financial position and prospects of the Company as enlarged by the acquisition, such that there is a reasonable basis for shareholders to exercise voting rights. The Company will obtain the consent of its shareholders at general meeting as a condition of the transaction. It is likely under these circumstances that the Directors will request PLUS suspend trading in the Company's securities pending the publication of the explanatory circular. It is the intention that the day-to-day management of the business that is acquired by the Company will remain in the hands of existing management. Once the first acquisition is complete the Directors will consider whether further acquisitions are likely to result in synergies and a subsequent increase in shareholder value. The Directors have considerable collective experience of identifying, investing in and acquiring growth companies and extensive contacts both in the information and communications industry and in the financial community. They will use this experience and their contact base to identify appropriate targets, carry out due diligence and negotiate the acquisition, bringing in external consultants and professional advisers, where appropriate, to assist in the process. Where possible, the Directors intend to seek appropriate indemnities from the vendors of relevant targets, for the circumstances in which costs are incurred on potential transactions which do not ultimately complete. If the Company fails to complete an acquisition as outlined above within two years from the date of Admission a resolution will be proposed for a members' voluntary liquidation of the Company (pursuant to Part IV of the Insolvency Act 1986 (as amended)) and funds shall be returned (after payment of the expenses and liabilities of the Company) to Shareholders pro rata to their respective shareholdings. REASONS FOR THE INTRODUCTION TO PLUS MARKETS The Directors believe that the benefits of introducing the Company to trading on PLUS Markets include: * the ability to enter into negotiations with vendors of businesses or companies, to whom the issue of publicly traded shares as consideration is potentially more attractive than the issue of shares in an equivalent private company for which no trading facility exists; * the ability to raise further funds in the future, either to enable a proposed acquisition to be completed and/or to raise additional working capital or developmental capital for the Company once the acquisition has been completed; and * the ability should the Directors so decide to attract high quality directors and employees by offering share options. The Directors consider that the ability to grant options over PLUS Markets traded shares is potentially more attractive to directors and employees that the grant of options over unquoted shares. Operating costs will be maintained at the minimum level consistent with the Company's status as a publicly quoted company. The Company will not acquire premises of its own or engage any full-time employees before making an acquisition. The Company may seek additional resources once targets have been identified (including, to the extent necessary, in respect of professional fees associated with acquiring such targets) although the intention is for as much of the consideration as possible to be settled in shares of the Company. The Board will keep Shareholders informed of the Company's developments and where appropriate will seek Shareholder approval for any major transaction. The Directors intend, upon the Company making a successful acquisition, to re- consider the constitution of the Board and to make any necessary changes in order to meet the needs of the Company going forward. THE DIRECTORS Brief biographical details of the Directors are set out below: DAVID GORDON MACLEAN (CHAIRMAN - AGED 42) Gordon MacLean has spent over 13 years in investment banking with a number of leading companies including Swiss Bank Corporation, Smith New Court (now part of Merrill Lynch) and Robert Fleming & Co. He specialised in the Scandinavian equities market and has been involved in several high-profile share issues and corporate transactions. Between 1997 and 2000 he was head of sales, covering the UK, European, North American and Middle Eastern markets for Den Danske Bank in London. More recently he co-founded two UK based businesses, providing property related services to the telecommunications industry; TelcoSolutions Limited and Six-AM Limited, and co-founded E-Face Limited, which specialises in non-surgical cosmetic procedures. He was also a director of Griffin Group plc being actively involved during its move from PLUS Markets to AIM. From May 2004 to May 2006 he was a director of Braemar Group plc (formerly Metrocapital plc) and was actively involved in the reversal of both Griffin Group plc and Braemar Group plc into two separate AIM listed vehicles. Gordon has experience in the information and communication sector which has included raising money for TelcoSolutions Limited and Six-AM Limited, companies which deal in the housing of telecom and IT operations and back-up services, and for Matchday Media which is involved in the installation of screen-based videos and the television transmission of information and advertising in Premiership football stadia. Gordon has also worked on the funding of a magazine/publishing project. In recent years he has experience of and has been instrumental in the introduction of private and institutional investors into AIM and PLUS transactions, as well as for private transactions, most recently in relation to the reversal of Metrocapital plc (now called Braemar Group plc) into an AIM listed vehicle, and a number of other public and private company transactions and equity fundraisings ranging from GBP300k to GBP400m. JONATHON JAMES BELLEW DE MENDONCA (INVESTMENT DIRECTOR - AGED 27) Jonathon gained his undergraduate degree in physiology from King's College, University of London in 2002. After graduation he worked for Merchant Capital plc as a researcher and corporate finance adviser. In March 2005 he moved to AON Corporation ("AON"), the largest global reinsurance broker and the second largest global insurance broker, where he specialises in corporate analysis in relation to their property and casualty business as well as being AON's senior analyst for life and health business. In this role Jonathon serves as an adviser to AON's International Market Security Committee and is a voting member of and adviser to AON's International Market Security Sub-Committee for life and health business. Jonathon is also director of Puzzlenut Limited, an internet-based entertainment company offering a range of puzzles and games. In his previous role within corporate finance, he was involved in the admissions to AIM and placingc for of a number of companies including BWA Group plc, Weatherly International plc, Synigence plc & Merchant House Group plc. These transactions ranged in value from GBP250k to GBP5m. The Directors have considerable collective experience of identifying, investing in and acquiring growth companies and extensive contacts both in the information and communication industry and in the financial community. They will use this experience and their contact base to identify appropriate targets, carry out due diligence and negotiate acquisitions, bringing in external consultants and advisers, where appropriate. SHAREHOLDERS WITH OVER 3% OF THE ISSUED SHARE CAPITAL SHAREHOLDER NUMBER OF ORDINARY SHARES %AGE AshWillow Limited * 52,500,000 30.0% Crossfields Investments Limited 52,500,000 30.0% REL SA * 25,000,000 14.3% Mark More O'Ferrall 20,000,000 11.4% David Gordon MacLean 10,000,000 5.7% Rudolph de Mendonca 10,000,000 5.7% * The entire issued share capital of AshWillow Limited is registered in the name of Terry Chambers The entire issued share capital of Crossfields Investments Limited is registered in the name of Maxwell Eagle * The entire issued share capital of REL SA is registered in the name of Shrikant Ruparel DIRECTOR INTERESTS SHAREHOLDER NUMBER OF ORDINARY SHARES %AGE David Gordon MacLean 10,000,000 5.7% Jonathon James Bellew de Mendonca 2,500,000 1.4% RISK FACTORS In addition to the usual risks associated with investing in small, high growth businesses, the Company faces the following specific risks: (i) The Company's success will depend on the retention of its Directors and any future management team, and on its ability to continue to attract and retain highly skilled and qualified personnel. There can be no assurance that the Company will retain the services of any of its Directors, or attract or retain any senior managers or skilled employees. (ii) PLUS Markets is not the same as AIM or the Official List and the Ordinary Shares are not listed or traded on any stock exchange. Notwithstanding the fact that an application will be made for the Ordinary Shares to be traded off exchange through PLUS Markets this should not be taken as implying that there will be a "liquid" market in the Ordinary Shares. An investment in the Ordinary Shares may thus be difficult to realise. The value of the Ordinary Shares may go down as well as up. Investors may therefore realise less than their original investment, or sustain a total loss of their investment. The market price of the Ordinary Shares may not reflect the underlying value of the Company's net assets or operations. (iii)Continued membership of PLUS Markets is entirely at the discretion of PLUS Markets plc. (iv) The Company's Ordinary Shares are intended for capital growth and therefore may not be suitable as a short-term investment. Investors may therefore not realise their original investment at all, or within the time-frame they had originally anticipated. (v) Any changes to the regulatory environment, in particular the PLUS Markets Rules regarding companies such as Metrocapital Information could, for example, affect the ability of the Company to maintain a trading facility on PLUS Markets. (vi) If the Company has not undertaken an acquisition within 24 months of the start of trading on PLUS Markets, there is no guarantee that the Company can maintain a PLUS Markets trading facility. (vii)It is the Company's intention to issue Ordinary Shares to satisfy all or part of any consideration payable on an acquisition, but vendors of suitable companies or businesses may not be prepared to accept shares traded on PLUS Markets or may not be prepared to accept Ordinary Shares at the quoted market price. If that is the case is may be necessary to raise additional funds to carry out an acquisition. There is no guarantee that the Company will be able to raise additional funds. DIRECTORS' CURRENT AND PAST DIRECTORSHIPS DIRECTOR CURRENT DIRECTORSHIPS: PREVIOUS DIRECTORSHIPS: David Gordon MacLean Jumpstartup Limited Braemar Group plc Metrocapital Associates Limited Griffin Group plc Metrocapital Engineering plc Match Day Media Limited Metrocapital Finance Limited Oval (2001) Limited Metrocapital Limited Oval (2007) Limited Metrocapital Media plc Rusbrook Limited Metrocapital Tech plc Six-AM Limited Minlay Limited Stratford Capital Limited Oval (2087) Limited Techcreation plc Jonathon James Bellew de Mendonca Alphaworx plc Internet Incubations Limited Belisarius Limited Internet I.P.O.S. Limited Camvaxx Limited Metrocapital Engineering plc Metrocapital Media plc Metrocapital Tech plc Puzzlenut Limited Puzzlenut (Administration) Limited Puzzlenut (Adultzone) Limited Puzzlenut.com (Holdings) Limited Puzzlenut (Kidzone) Limited Puzzlenut (Teenzone) Limited Safevaxx Limited Stageworx plc Voipnetwork Limited Wannabeapuzzlemillioniare Limited CORPORATE ADVISER & CONTACT DETAILS Alfred Henry Corporate Finance Limited is acting as the Corporate Advisor for the Company, and can be contacted at: Finsgate 5-7 Cranwood Street London EC1V 9EE Email: sjs@alfredhenry.com Telephone: +44 (0)20 7251 3762 The Directors of the Company accept responsibility for this announcement. 23 July 2007 Read Less

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