Released: 14/09/2009
Part 2 : For preceding part double-click [nRn1N9686Y]
£'000 £'000 £'000 £'000 £'000 £'000
External revenue
DGM 5,548 1,930 - - - 7,478
AKTIV - 910 - - - 910
OTHER - 188 - - - 188
5,548 3,028 - - - 8,576
Segment result
DGM 347 (42) (385) (80)
AKTIV - 198 (145) 53
OTHER - (105) 54 (12) (742) (805)
347 51 54 (542) (742) (832)
Amortisation (137)
Depreciation (49)
Share based payment (22)
Interest (40)
Share of loss of associates (4)
Tax -
Total Loss for the period (1,084)
Six months to 30 June 2008 Australia Asia Pacific *Other Operating Central Costs Holding Company Costs Total
£'000 £'000 £'000 £'000 £'000 £'000
External revenue
DGM 5,426 627 - - - 6,053
AKTIV - 303 - - - 303
OTHER - 153 185 - - 338
5,426 1,083 185 - - 6,694
Segment result
DGM 708 (104) - (366) - 238
AKTIV - (39) - (78) - (117)
OTHER - (3) (58) (12) (465) (538)
708 (146) (58) (456) (465) (417)
Amortisation (137)
Depreciation (61)
Share based payment (160)
Interest 5
Share of loss of associates (49)
Tax -
Total Loss for the period (819)
4 REVENUE AND SEGMENTAL INFORMATION (Continued)
Year to 31 December 2008 Australia Asia Pacific *Other Operating Central Costs **Holding Company Costs Total
£'000 £'000 £'000 £'000 £'000 £'000
External revenue
DGM 11,391 1882 - - - 13,273
AKTIV - 895 - - - 895
OTHER - 163 369 - - 532
11,391 2,940 369 - - 14,700
Segment result
DGM 1,060 (147) - (768) - 145
AKTIV - 59 - (156) - (97)
OTHER - (91) (368) (25) (1,396) (1,880)
1,060 (179) (368) (949) (1,396) (1,832)
Amortisation (274)
Depreciation (148)
Share based payment (179)
Interest (21)
Share of loss of associates (343)
Tax (41)
Total Loss for the year (2,838)
* This relates to discontinued operations
** Holding Company Costs for the year ended 31 December 2008 includes £727,000
in leasehold and other provisions
5 SEASONAL FLUCTUATIONS
The business of Asia Digital Holdings Plc is subject to seasonal fluctuations,
with stronger demand for services in the second half of the year.
6 LOSS PER SHARE
The calculation for the basic loss per share is based upon the loss attributable
to ordinary shareholders divided by the weighted average number of shares in
issue during the period.
Reconciliation of the loss and weighted average number of shares used in the
calculations are set out below:
6 months 6 months Year to
to 30 Jun 09 to 30 Jun 08 to 31 Dec 08
Continuing operations
Loss after tax and attributable to ordinary shareholders (1,138) (743) (2,838)
(£'000)
Weighted average number of shares 453,768,684 453,768,684 453,768,684
Basic and diluted earnings per share (0.25p) (0.16p) (0.62p)
Discontinued operations
Profit/(Loss) after tax and attributable to ordinary 54 (76) -
shareholders (£'000)
Weighted average number of shares 453,768,684 453,768,684 453,768,684
Basic and diluted earnings per share 0.01p (0.02p) -
Total operations
Loss after tax and attributable to ordinary shareholders (1,084) (819) (2,838)
(£'000)
Weighted average number of shares 453,768,684 453,768,684 453,768,684
Basic and diluted earnings per share (0.24p) (0.18p) (0.62p)
In view of the loss for the period, options have no dilutive effect
7 SHARE BASED PAYMENTS
During the period 8,525,000 options (June 2008: 14,579,999) were issued at an
average fair value of 0.35 pence per share (June 2008: 0.54 pence).
The fair values of the options granted during the period ended 30 June 2009 were
determined using the binomial valuation model. The value of the options has been
adjusted for future dividends, assuming that they will be paid from 2013 at a
yield of 3%.
The model takes into account a volatility rate of 100% which has been derived
from historical experience. A weighted average risk free interest rate of 2.4%
has been applied. The share price at grant date was 0.60 pence and the weighted
average exercise price was 1.43 pence per share.
The options were granted in accordance with the Group's Enterprise Management
Incentive Scheme. The options have lives of 10 years and vest in three equal
tranches over the first three years of their lives provided the employees
continue to work for group. The expected lives of the options used in
application of the binomial model were 5 years for managerial staff and 4 years
for non-managerial staff.
The amount of employee remuneration expense for the 6 months ended 30 June 2009,
in respect of unvested share options granted in this period and earlier periods,
amounts to £21,665 (June 2008: £19,186).
8 LEASE COMMITMENTS PROVISION
There has been no movement in the period to 30 June 2009.
9 RELATED PARTY TRANSACTIONS
During the period the Group entered into the following related party
transactions. All transactions were made on an arm's length basis:
Howard Kennedy
Keith Lassman, Non-Executive Director and shareholder, is a partner of Howard
Kennedy, Solicitors. During the period, the Group paid £7,050 (2008: £3,590) in
respect of legal services provided to the Group. The balance due to Howard
Kennedy, Solicitors, at the period end was £21,772 (2008: £7,050)
DC Storm Limited
DC Storm Limited is an associated undertaking company. During the period the
Group was charged £45,000 (2008: £75,000) in respect of software licensing
provided to the Group. The balance due to DC Storm Limited at period end was
£Nil (2008: £Nil).
dealgroupmedia (UK) Limited
dealgroupmedia (UK) Limited is an associated undertaking company. During the
period the Group was charged £180,000 (2008: £180,000) in respect of technical
services provided to the Group. The Group also charged office rental and
software licensing of £75,640 (2008: £39,482) and £15,000 (2008: £15,000)
respectively.
Transactions involving major shareholder
An amount of £500,000 was raised by way of a convertible loan note which carries
a 15% coupon payable with principal on repayment. This has been issued to River
Don Limited, a company controlled by John Porter, a major shareholder in the
Group and also a director of an associated undertaking company.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR ILFSTARILLIA