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Final Results

  Download PDF - Tuesday 8th January 2013 at 07:00am

ALPHA PROSPECTS PLC
("Alpha" or the "Company")

FINAL RESULTS

The Chairman presents his statement for the period.

I am pleased to present the financial results for Alpha Prospects Plc for the 12 month period ending 31 August 2012.

The total comprehensive loss for the 12 month period is GBP505,694 (2011 - GBP 472,637). Of this GBP215,747 (2011: GBP261,295), related to write downs in the value of the Company's investment share portfolio and GBP125,000 (2011: GBP125,000) related to write downs against loan receivables. Net assets during the year increased by over GBP1 million following the issue of shares in consideration for investments acquired.

In last year's statement the Board announced that it was going to continue to look for investment opportunities and expected to announce further investments in 2012. I am delighted to report that this was the case. During the year, the Company made two significant investments, namely, Coleridge Resources Inc. in the US ("Coleridge"), and RAM Active Media plc ("RAM") in the UK. Alpha also acquired an investment in Alpha Prospects Australia Pty Ltd in Tasmania.

Coleridge is a company with coal rights in Kentucky scanning a large acreage. Alpha acquired 25% of Coleridge for shares in Alpha in March of this year.

In June, Alpha acquired an 11% stake in RAM for a 5% stake in Alpha. RAM is a digital media holding company quoted on AIM with a market cap of over GBP3 million.

Alpha has also identified a number of exciting opportunities in the energy and resource sectors and the Board hopes that these opportunities will come to fruition during 2013.

Following the Company's year-end, Alpha has agreed, subject to certain conditions being satisfied, to subscribe for a 2 million shares in Tasmania Oil and Gas Ltd, a new joint venture Company, for a consideration to be satisfied by the issue of 33,333,333 shares in Alpha.

Finally, on behalf of the Board I would like to take this opportunity of thanking the Company's professional advisers for their support and assistance throughout the year.

Steven Freudmann

Chairman

Alpha Prospects Plc Report and Financial Statements Year Ended 31 August 2012

The Directors of the issuer accept responsibility for this announcement.

Enquiries:

ALPHA PROSPECTS PLC Christopher Foster +44 20 7518 4300
PETERHOUSE CORPORATE FINANCE LIMITED Eran Zucker / Fungai Ndoro +44 20 7469 0932