Dale Capital Group Limited FY 2014 financial results

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Dale Capital Group Limited listed on the Stock Exchange of Mauritius has released its Full Year Results. Check out
insights into this company in their presentation which appears below.
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Dale Capital Group Limited FY 2014 financial results

  1. 1. DALE CAPITAL GROUP LIMITED AND ITS SUBSIDIARIES UNAUDITED ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2014 2014 2013 2014 2013 2014 2013 2014 2013 USD USD USD USD USD USD USD USD ASSETS Net cash flow from operating activities (309,749) (741,832) (14,677) (313,628) Non-current assets Net cash flow from investing activities 1,332,967 630,598 67,415 25,000 Property, plant and equipment - 9,605,677 - - Net cash flow from financing activities 31,425 529,048 (38,128) 310,683 Investment Property - 873,600 - - Net decrease 1,054,643 417,814 14,610 22,055 Intangible assets - - - - Cash and cash equivalents at beginning (1,083,539) (1,501,353) (43,547) (65,602) Investments in subsidiary - - 804,397 2,708,270 Cash and cash equivalents at end (28,896) (1,083,539) (28,937) (43,547) Investment in financial assets 1,155,600 1,123,200 - - Deferred taxation - - - STATEMENTS OF CHANGES IN EQUITY 1,155,600 11,602,477 804,397 2,708,270 THE GROUP THE COMPANY Current assets 578,609 1,087,222 351,598 1,576,613 Stated Capital Reserves Non-Controlling interest Total Stated Capital Reserves Total 1,734,209 12,689,699 1,155,995 4,284,883 USD USD USD USD USD USD USD EQUITY AND LIABILITIES Stated capital 1,318,315 21,818,315 1,318,315 21,818,315 Balance at 1st March 2012 21,818,315 (10,425,832) 5,204,546 16,597,029 21,818,315 (12,638,705) 9,179,610 Reserves (719,727) (22,118,431) (1,288,079) (20,446,361) Total Comprehensive loss for the period - (11,692,599) (3,217,685) (14,910,284) - (7,807,656) (7,807,656) Shareholders' interest 598,588 (300,116) 30,236 1,371,954 Balance at 28 February 2013 21,818,315 (22,118,431) 1,986,861 1,686,745 21,818,315 (20,446,361) 1,371,954 Non-controlling interest 1,986,861 - - Total equity 598,588 1,686,745 30,236 1,371,954 Non-current liabilities - - - - Balance at 1st March 2013 21,818,315 (22,118,431) 1,986,861 1,686,745 21,818,315 (20,446,361) 1,371,954 Current liabilities 1,135,621 11,002,954 1,125,759 2,912,929 Movement during theyear (20,500,000) 20,500,000 (1,848,784) (1,848,784) (20,500,000) 20,500,000 - 1,734,209 12,689,699 1,155,995 4,284,883 Total Comprehensive loss for the period 898,704 (138,077) 760,627 - (1,341,718) (1,341,718) Balance at 28 February 2014 1,318,315 (719,727) - 598,588 1,318,315 (1,288,079) 30,236 Net Asset Value per share : 0.03 (0.01) 0.001 0.06 Number of shares in issue* 23,416,696 23,416,696 23,416,696 23,416,696 2014 2012 2013 2012 CONTINUING ACTIVITIES USD USD USD USD REVENUE Investment Income 43,453 54,766 - - Turnover 287,019 2,691,604 - 2,932 330,472 2,746,370 - 2,932 Administrative expenses (227,072) (193,150) (38,247) (35,417) Operating expenses (480,186) (2,967,532) (123,333) (120,518) Loss from operations (376,786) (414,312) (161,580) (153,003) Finance costs (549,877) (890,166) (401,723) (122,673) Net loss on investments (778,415) (9,203,983) (778,415) (7,531,980) Loss for the year from continued operations (1,705,078) (10,508,461) (1,341,718) (7,807,656) Income tax income (6,237) (6,644) - - Disconinued Operations 2,727,259 - - - Loss for the period 1,015,944 (10,515,105) (1,341,718) (7,807,656) Other comprehensive income (255,317) (4,395,179) - - Total comprehensive loss for the period 760,627 (14,910,284) (1,341,718) (7,807,656) Loss attributable to: Shareholders of the parent 1,154,021 (7,297,420) (1,341,718) (7,807,656) Non-controlling interest (138,077) (3,217,685) - - Total comprehensive loss attributable to: Shareholders of the parent 898,704 (11,692,599) (1,341,718) (7,807,656) Non-controlling interest (138,077) (3,217,685) - - Loss per share continuing and discontinuing operations 0.05 (0.31) (0.06) (0.33) Loss per share continuing operations 0.05 (0.31) (0.06) (0.33) Dividend per share - - - - STATEMENTS OF CASH FLOWS THE COMPANYTHE GROUP THE GROUP THE COMPANY STATEMENTS OF FINANCIAL POSITION THE GROUP THE COMPANY Commentary of Directors Due to unforeseen circumstances it is anticipated that the year end audit will be completed by the 31st of July 2014. GPC S ecurities Ltd, have been unable to respect the 30 June 2014 deadline for the Proof of Funds. The Directors are in the interim publishing the unaudited abridged version of the Financial Statements . In the event of the transaction with GPC Securities not proceeding the directors intend to give notice for aspecial meeting of shareholders after completion of the publication of the audited results, when the future of the group will be decided. This communiqué is issued pursuant to Listing Rule 11.3 and the Securities Act 2005. The Board of Dale Capital Group Limited accepts full responsibility for the accuracy of the information. Foretenberry Corporate Services Ltd - Corporate Secretary 04 July 2014

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