COMPANY ANNOUNCEMENT GHM42
Date of Announcement 12 April 2010
Reference 42/2010
This is a company announcement being made by Grand Harbour Marina plc, the “Company” in compliance with Listing Rules 8.7.4, 8.7.21 and 9.35.2:
QUOTE
The Board of Directors of Grand Harbour Marina p.l.c. has today approved the financial statements for the period ended 31 December 2009 and resolved that they be submitted for the approval of the shareholders at the forthcoming Annual General Meeting.
A preliminary profits statement is being attached to this company announcement.
The Board of Directors is recommending the payment of a dividend amounting to €750,000 net of tax, representing a net dividend per ordinary share of €0.075, for the approval of the shareholders at the next Annual General Meeting.
The Board of Directors has also decided that the Annual General Meeting shall be held on the 30th June 2010. Shareholders on the Company’s Register at the Central Securities Depository of the Malta Stock Exchange as at close of business on 2 June 2010 will be entitled to receive the said dividend and will receive notice of the Annual General Meeting together with a copy of the Annual Report and Financial Statements. Pursuant to the Malta Stock Exchange Bye-Laws, the Register as at close of business on the 2 June 2010 will include trades undertaken up to and including 28 May 2010.
UNQUOTE
Signed
Louis de Gabriele
Company Secretary
Preliminary Statement of Annual Results
For the year ended 31 December 2009
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Condensed Statement of Comprehensive Income Condensed Statement of Financial Position 2009 2008 2009 2008
€ € € €
Revenue 2,053,407 2,496,987 ASSETS
Personnel expenses (316,988) (306,695)
Depreciation expense (343,850) (334,959) Non-current assets 8,583,560 8,806,916
Other expenses (1,583,817) (2,097,051) Current assets 2,591,628 3,060,855
------------ ----------- -------------- --------------
Results from operating activities (191,248) (241,718) Total assets 11,175,188 11,867,771
------------ ----------- ======== ========
Finance income 43,152 139,840 EQUITY
Finance costs (267,532) (296,779)
------------ --------- Total equity 5,386,886 4,563,673
Net finance costs (224,380) (156,939) ------------- -------------
----------- ----------
Loss before income tax (415,628) (398,657) LIABILITIES
----------- -----------
Non-current liabilities 3,260,147 3,362,752
Tax over-provided for in prior Current liabilities 2,528,155 3,941,346
periods 1,233,367 - ------------ --------------
Other income tax credit Total liabilities 5,788,302 7,304,098
(expense) / items 5,474 (12,191) ------------- --------------
------------ ------------ Total equity and liabilities 11,175,188 11,867,771
Income tax credit / (expense) 1,238,841 (12,191) ======== ========
------------ ------------
Profit / (loss) for the year 823,213 (410,848)
======= =======
Total comprehensive income
for the year 823,213 (410,848)
======= ========
Earnings / (loss) per share 0.08 (0.04)
===== =====
Condensed Statement of Changes in Equity
Share Statutory Retained
Total capital reserve earnings
€ € € €
Balance at 1 January 2008 6,974,521 2,329,370 20,888 4,624,263
------------ ------------ ---------- ------------
Total comprehensive income for the year
Profit or loss (410,848) - - (410,848)
------------ ------------ ---------- ------------
Transactions with owners, recorded directly in equity
Dividends paid (2,000,000) - - (2,000,000)
------------ ------------ ---------- ------------
Other movement in reserves for the year
Transfer from statutory reserve - - (20,888) 20,888
------------ ------------ ---------- ------------
Balance at 31 December 2008 4,563,673 2,329,370 - 2,234,303
======= ======= ====== =======
Balance at 1 January 2009 4,563,673 2,329,370 - 2,234,303
------------ ------------ ---------- ------------
Total comprehensive income for the year
Profit or loss 823,213 - - 823,213
------------ ------------ ---------- ------------
Balance at 31 December 2009 5,386,886 2,329,370 - 3,057,516
======= ======= ====== =======
Preliminary Statement of Annual Results
For the year ended 31 December 2009
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