DGAP-News: Mingo Bay Properties PLC: Audited Financials
(firmenpresse) - Mingo Bay Properties PLC / Final Results
22.06.2010 09:00
Dissemination of a Corporate News, transmitted by
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MINGO BAY PROPERTIES PLC, announces December 31st, 2009 Audited Financials
and reports EUR1.23 per share net Shareholders equity.
London, June 22, 2010 9:00am (GMT) Mingo Bay Properties PLC ('Mingo Bay')
CEO, Paul Self reports 'I am pleased to announce the release of our 2009
year end audited financial statements. We were very productive during our
2009 organization a year in which we successfully acquired 40.3 acres of
debt free beautiful ocean front land in the Dominican Republic. We see this
as a signature development and intend to break ground on the first phase
during 2010. In February 2010, through a strategic investment in 1 Beach
St. Development LLC, we were able to bring two upscale Mexico resorts
properties into our portfolio, also of key importance, significant industry
expertise in sales, marketing and resort operations. Mingo Bay is well
positioned, at a unique time within our industry, for expansion of our
resort portfolio. We look forward to continued sales, earnings growth and
acquisitions during 2010'.
Mingo Bay Properties PLC, during its 2009 organizational period had an
Operating Loss of EUR716,765 or EUR0.03 per share resulting from legal,
accounting, regulatory filings and other organizational related cost. Mingo
Bay strategic acquisitions during 2009 yielded a significant year end
increase in Net Shareholder Equity of EUR36,053,000 or EUR1.23 per share.
The 2009 year-end audited consolidated financial statements of Mingo Bay
Properties PLC, can be viewed under the Investor Relations section of our
web site at www.MingoBayPLC.com.
About Mingo Bay
Mingo Bay Properties PLC, ('Mingo Bay') is a United Kingdom registered
public company with its shares listed on the Frankfurt Stock Exchange
(ISIN: GB00B2NPLL36, WKN: A0NBLU). The 'Company' refers collectively to
Mingo Bay, its subsidiaries, joint ventures, affiliates and partners. We
are an international company specializing in an upscale, ocean front,
resort experience in intimate settings. Our focus is tropical beaches in
exotic locations, with affordable transportation access. Our concept is
unique; ocean-front, boutique-style, vacation ownership interests. The
'company' refers collectively to Mingo Bay Properties Plc., its
subsidiaries, affiliates, partners and joint ventures.
Our internationalism is reflected in being a United Kingdom public company,
listed on the Frankfurt Stock Exchange (FSE), with resorts and developments
in Mexico and the Caribbean, and a growth strategy that focuses on tropical
locations.
Disclaimer:
This press release contains forward-looking statements based on beliefs of
Mingo Bay management. When used in this press release, words such as
'anticipate', 'believe', 'estimate', 'expect', 'intend', 'plan' and
'project' are intended to identify forward-looking statements. Such
statements reflect the views of Mingo Bay Properties PLC as of the date
made with respect to future events and are subject to risks and
uncertainties. Many factors could cause actual results to be materially
different from those projected here, including, among others, changes in
general economic and business conditions, changes in currency exchange
rates and interest rates, introduction of competing products, lack of
acceptance of new products or services and changes in business strategy.
Mingo Bay Properties PLC disclaims any intention or obligation to update
these forward-looking statements.
Registered Office in England&Wales: For Information Contact:
Mingo Bay Properties PLC Email: IR(at)MingoBayPLC.com
2nd Floor, Vintners Place, Web: www.MingoBay.com
68 Upper Thames Street,
London EC4V 3BJ,
United Kingdom
UK Company No. 04996793
Aragon Labs PLCAragon Labs PLC
Consolidated Balance Sheet
31 December 2009
Balance Sheet EUR EUR
FIXED ASSETS
Land 31,976,169
CURRENT ASSETS
Debitors 3,735
Marketable Securities 2,442,630
Cash at bank 7,145
2,453,510
CREDITORS
Amounts falling due within on year 385,976
NET CURRENT ASSETS 2,067,533
TOTAL ASSETS LESS CURRENT LIABILITIES 34,043,702
CREDITORS
Amounts falling due after more than one year 165,042
NET ASSETS 33,878,661
CAPITAL AND RESERVES
Called up share capital 305,857
Share Premium 34,289,853
Profit and Loss account -717,049
SHAREHOLDERS' Funds 33,878,661
NOTE TO THE AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDNIG 31 DECEMBER 2009
20. POST BALANCE SHEET EVENTS
On February 10, 2010 the Board resolved that the Company name be change to
Mingo Bay Properties Plc., to better reflect and focus on the development
and sale of resort properties, including land in the Dominican Republic and
other resort based real estate investments that could increase shareholder
value. Mingo Bay does not intend to pursue any acquisition opportunities in
the health are industry.
On 1 February, 2010 Dr, Jose Pineda was appoint to the Board of Directors.
Dr, Pineda was a joint seller of Villas Punta Ballena CxA.
On 17 February 2010, Ming Bay acquired a 50% Common Stock interest in 1
Beach Street Development LLC,. Loccated in Tampa, Florida. Purchase
consideration was secured promissory note in the amonth of£2.5 million
(USD4 million) and 2.5 million shares of Mingo Bay Properties Plc. I Beach
Street Development is a resort hospitality company specializing in resort
real estate sales, is based in Florida USA and has two report properties in
Mexico and is negotiating for a third.
22.06.2010 09:00 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------Unternehmensinformation / Kurzprofil:
Datum: 22.06.2010 - 09:00 Uhr
Sprache: Deutsch
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