Apollo:
Six-month results 2008 – Appointment of Board members – Buyback
Pursuant to
the CSE and SEC Regulations and in order to fully inform the shareholders and
the investing public in general, the Board of Directors of Apollo Investment
Fund Plc announces that at the meeting held on Thursday, July 17, 2008, it
decided the following:
1.
Six-month results 2008
The Board
of Directors examined and approved the unaudited results for the six months
ended June 30, 2008, pursuant to the CSE and SEC Regulations.
The
results, which have been prepared pursuant to the International Accounting
Standard 34, are attached. Copies will
not be posted to the shareholders but will be available free of charge at the
office of Laiki EDAK and Fund Management Ltd, 39-41 Evagorou Avenue, Ettita
Court, 1066 Nicosia, tel. 22718522, Mrs. Maria Hadjipetrou. The results will be published in newspaper
“Phileleftheros” on Tuesday, July 22, 2008.
2.
Appointment of new Board members
The Board
of Directors appointed Messrs. Akis Pegasiou and Neoclis Thomas (Non Executive
– Independent) as new Board members.
3. Buyback
of Own Shares
The Board
of Directors announces the termination of the closed period and the re-start of
the buyback program.
|
|
|
Six months ended June 30 |
|
|
|
|
2008 € |
2007 € |
|
|
|
|
|
|
Income |
|
|
|
|
Dividends receivable |
|
540.453 |
581.594 |
|
Credit interests |
|
277.619 |
148.970 |
|
(Loss)/Profit from sale and
revaluation of financial assets |
|
(11.549.520) |
6.811.570 |
|
|
|
_________ |
_________ |
|
|
|
(10.731.448) |
7.542.134 |
|
|
|
|
|
|
Administrative expenses |
|
(199.176) |
(228.971) |
|
Exchange (loss)/profit |
|
(6.779) |
1.637 |
|
Tax interests |
|
(1.613) |
(17.300) |
|
|
|
_________ |
_________ |
|
(Loss)/Profit from operations before taxation |
|
(10.939.016) |
7.297.500 |
|
Taxation |
|
(54.354) |
377.854 |
|
Tax (payable)/receivable |
|
|
|
|
|
|
_________ |
_________ |
|
Net (loss)/profit for the period |
|
(10.993.370) |
7.675.354 |
|
|
|
========= |
========= |
|
|
|
|
|
|
(Loss)/Earnings per share (cent) |
|
(21,05) |
15,89 |
|
|
|
========= |
========= |
Balance sheet as at June 30, 2008
|
|
|
30 June 2008 € |
31 December
2007 € |
|
ASSETS |
|
|
|
|
Current assets |
|
|
|
|
Prepayments and other debtors |
|
349.197 |
6.479 |
|
Financial assets assessed in fair value via the results |
|
28.742.569 |
40.417.827 |
|
Tax receivable |
|
- |
12.295 |
|
Cash and cash equivalents |
|
5.064.053 |
6.631.907 |
|
|
|
___________ |
___________ |
|
Total assets |
|
34.155.819 |
47.068.508 |
|
|
|
=========== |
=========== |
|
Equity and
liabilities |
|
|
|
|
Capital and reserves |
|
|
|
|
Share capital |
|
22.067.029 |
20.547.537 |
|
Share premium |
|
665.310 |
665.310 |
|
Own shares |
|
- |
(99.516) |
|
Difference from redenomination of share capital in euros |
|
155.727 |
- |
|
Retained profits |
|
11.135.032 |
25.773.855 |
|
|
|
___________ |
___________ |
|
|
|
34.023.098 |
46.887.186 |
|
|
|
___________ |
___________ |
|
Short-term liabilities |
|
|
|
|
Creditors and accruals |
|
70.294 |
127.006 |
|
Current tax liabilities |
|
62.427 |
54.316 |
|
|
|
___________ |
___________ |
|
Total liabilities |
|
132.721 |
181.322 |
|
|
|
___________ |
___________ |
|
Total equity and liabilities |
|
34.155.819 |
47.068.508 |
|
|
|
=========== |
=========== |