Belize City, Belize, 22 May 2008 – Cockleshell Limited (LondonAIM: CKL) (“Cockleshell” or the “Company”) reported net profit of $599,000 for the period 17 October 2007 (date of incorporation) to 31 March 2008, its first reported yearend since becoming listed on AIM in December 2007. Basic and diluted earnings per ordinary share for the period ended 31 March 2008 amounted to 1.34 cents.
Cockleshell was incorporated on 17 October 2007 with an authorised share capital comprising one billion ordinary shares of no par value. On incorporation, one ordinary share of no par value was allotted to its then parent company. On 19 October 2007, the Company allotted a further 44,857,463 ordinary shares of no par value.
On 15 November 2007, as part of a series of transactions, the Company received a cash contribution of $50 million.
On 15 November 2007, the authorised capital of the Company was converted into one billion ordinary shares of $0.01 each. At the same time, the entire issued 44,857,464 ordinary shares of no par value were converted into 44,857,464 ordinary shares of $0.01 each.
Further details are set out in the Company’s AIM Admission document dated 4 December 2007.
The Company continues its search for investment opportunities in line with its stated strategy which includes possible investment in either one or more businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Cockleshell management team.
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