(“Feedback”, the “Company” or the “Group”)
Interim Report for the six months ended 30 November 2013
The Company became an Investing Company (as defined by the AIM Rules for Companies) on 1 June 2013 focussed on investing in the technology sector. The Company’s detailed Investing Policy is available on the Company’s website (feedbackplc:8888). The Directors are endeavouring to implement the Company’s investment policy by identifying a suitable acquisition that will be effected by means of a reverse takeover.
Results for the six months ended 30 November 2013 show a loss of £136,000 (30 November 2012: loss £298,000). This loss represents the costs of maintaining the company’s listing on AIM and activities related to implementing the Investing Policy. At 30 November 2013 the net tangible assets of the company were £625,000.
These net assets include the proceeds from the disposal of the Company’s freehold property. This disposal was the subject of a circular to shareholders dated 11 July 2013, and was approved at a General Meeting held on 29 July 2013.
The Board believes that the Company’s cash reserve is sufficient to meet its immediate requirements and also to pursue the Company’s Investing Policy.
The Board has commenced the assessment of various potential projects in the technology sector in accordance with its Investing Policy. While no such projects have yet come to fruition, the Board is confident of moving forward on a project in the near future.
Chairman and Chief Executive
For further information contact:
Nick Shepheard Tel: 020 3289 7747
Sanlam Securities UK Limited (Nominated adviser)
Simon Clements/Catherine Miles Tel: 020 7628 2200