REG - Microgen PLC - Interim Results <Origin Href="QuoteRef">MCGN.L</Origin> - Part 2

Aptitude SoftwareAnnouncement

06/09/2014 18:34

- Part 2: For the preceding part double click  ID:nRSU7887Ma 

   298                                    293                                  
 
 
Provisions have been analysed between current and non-current as follows: 
 
                Unauditedsix monthsended30 Jun 2014    Unauditedsix monthsended30 Jun 2013  
                £000                                   £000                                 
 Current        32                                     38                                   
 Non-current    266                                    255                                  
                                                                                            
 At 30 June     298                                    293                                  
 
 
13.       Share capital 
 
 Six months ended 30 June 2014                         Number of shares  (thousands)  Ordinary shares£000  Share premium£000  Total£000  
 Opening balance as at 1 January 2014                  74,499                         3,724                12,037             15,761     
 Proceeds from shares issued - employee share schemes  61                             3                    3                  6          
 Closing balance as at 30 June 2014 (unaudited)        74,560                         3,727                12,040             15,767     
                                                                                                                                         
 Six months ended 30 June 2013                         Number of shares  (thousands)  Ordinary shares£000  Share premium£000  Total£000  
 Opening balance as at 1 January 2013                  81,582                         4,078                11,885             15,963     
 Proceeds from shares issued - employee share schemes  1,010                          51                   130                181        
 Closing balance as at 30 June 2013 (unaudited)        82,592                         4,129                12,015             16,144     
 
 
Employee share option scheme: options exercised during the six month period
ended 30 June 2014 resulted in 60,917 shares being issued (30 June 2013:
1,010,060), with exercise proceeds of £6,000 (30 June 2013: £181,000). The
related weighted average share price at the time of exercise was £1.20 (30
June 2013: £1.19) per share. 
 
14.       Related party transactions 
 
Transactions between the Company and its subsidiaries, which are related
parties, have been eliminated on consolidation. There were no other related
party transactions during the six month period ended 30 June 2014 (30 June
2013: £nil), as defined by International Accounting Standard No 24 'Related
Party Disclosures', except for key management compensation. 
 
The related party transactions for the year ended 31 December 2013 as defined
by International Accounting Standard No 24 'Related Party Disclosures' are
disclosed in note 29 of the Microgen plc Annual Report for the year ended 31
December 2013. 
 
15.       Statement of directors' responsibilities 
 
The directors confirm that these condensed interim financial statements have
been prepared in accordance with International Accounting Standard 34,
'Interim Financial Reporting', as adopted by the European Union and that the
interim management report includes a fair review of the information required
by DTR 4.2.7 and DTR 4.2.8, namely: 
 
-                 an indication of important events that have occurred during
the first six months and their impact on the condensed set of financial
statements, and a description of the principal risks and uncertainties for the
remaining six months of the financial year; and 
 
-                 material related-party transactions in the first six months
and any material changes in the related-party transactions described in the
last annual report. 
 
The directors of Microgen plc are listed in the Microgen plc Annual Report for
31 December 2013. A list of current directors is maintained on the Microgen
plc website: www.microgen.com 
 
Copies of this statement are being posted to shareholders and will also be
available on the investor relations page of our website (www.microgen.com). 
Further copies are available from the Company Secretary at Old Change House,
128 Queen Victoria Street, London, England, EC4V 4BJ. 
 
By order of the Board 
 
P Wood 
 
18 July 2014 
 
Group Finance Director 
 
Independent review report to Microgen plc 
 
Report on the condensed consolidated interim financial statements 
 
Our conclusion 
 
We have reviewed the condensed consolidated interim financial statements,
defined below, in the interim report of Microgen plc for the six months ended
30 June 2014. Based on our review, nothing has come to our attention that
causes us to believe that the condensed consolidated interim financial
statements are not prepared, in all material respects, in accordance with
International Accounting Standard 34 as adopted by the European Union and the
Disclosure and Transparency Rules of the United Kingdom's Financial Conduct
Authority. 
 
This conclusion is to be read in the context of what we say in the remainder
of this report. 
 
What we have reviewed 
 
The condensed consolidated interim financial statements, which are prepared by
Microgen plc, comprise: 
 
·    the condensed consolidated interim balance sheet as at 30 June 2014; 
 
·    the condensed consolidated interim income statement and interim statement
of comprehensive income for the period then ended; 
 
·    the condensed consolidated interim statements of cash flow for the period
then ended; 
 
·    the condensed consolidated interim statement of changes in equity for the
period then ended; and 
 
·    the explanatory notes to the condensed consolidated interim financial
statements. 
 
As disclosed in note 2, the financial reporting framework that has been
applied in the preparation of the full annual financial statements of the
group is applicable law and International Financial Reporting Standards
(IFRSs) as adopted by the European Union. 
 
The condensed consolidated interim financial statements included in the
interim report have been prepared in accordance with International Accounting
Standard 34, 'Interim Financial Reporting', as adopted by the European Union
and the Disclosure and Transparency Rules of the United Kingdom's Financial
Conduct Authority. 
 
What a review of condensed consolidated interim financial statements involves 
 
We conducted our review in accordance with International Standard on Review
Engagements (UK and Ireland) 2410, 'Review of Interim Financial Information
Performed by the Independent Auditor of the Entity' issued by the Auditing
Practices Board for use in the United Kingdom. A review of interim financial
information consists of making enquiries, primarily of persons responsible for
financial and accounting matters, and applying analytical and other review
procedures. 
 
A review is substantially less in scope than an audit conducted in accordance
with International Standards on Auditing (UK and Ireland) and, consequently,
does not enable us to obtain assurance that we would become aware of all
significant matters that might be identified in an audit. Accordingly, we do
not express an audit opinion. 
 
We have read the other information contained in the interim report and
considered whether it contains any apparent misstatements or material
inconsistencies with the information in the condensed consolidated interim
financial statements. 
 
Responsibilities for the condensed consolidated interim financial statements
and the review 
 
Our responsibilities and those of the directors 
 
The interim report, including the condensed consolidated interim financial
statements, is the responsibility of, and has been approved by, the directors.
The directors are responsible for preparing the interim report in accordance
with the Disclosure and Transparency Rules of the United Kingdom's Financial
Conduct Authority. 
 
Our responsibility is to express to the company a conclusion on the condensed
consolidated interim financial statements in the interim report based on our
review. This report, including the conclusion, has been prepared for and only
for the company for the purpose of complying with the Disclosure and
Transparency Rules of the Financial Conduct Authority and for no other
purpose. We do not, in giving this conclusion, accept or assume responsibility
for any other purpose or to any other person to whom this report is shown or
into whose hands it may come save where expressly agreed by our prior consent
in writing. The maintenance and integrity of the Microgen plc website is the
responsibility of the directors; the work carried out by the auditors does not
involve consideration of these matters and, accordingly, the auditors accept
no responsibility for any changes that may have occurred to the financial
statements since they were initially presented on the website. 
 
Legislation in the United Kingdom governing the preparation and dissemination
of financial statements may differ from legislation in other jurisdictions. 
 
PricewaterhouseCoopers LLP 
 
Chartered Accountants 
 
18 July 2014 
 
Uxbridge 
 
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