REG - Water Intelligence - Final Results <Origin Href="QuoteRef">WATRI.L</Origin> - Part 2

Water IntelligenceAnnouncement

16/07/2015 09:50

- Part 2: For the preceding part double click  ID:nRSH4696Pa 

During the year the Company had the following transactions with its subsidiary
companies: 
 
QN 
 
                                                      $         
 Balance at 31 December 2013                          391,588   
 Net loans to subsidiary                              (22,998)  
 VAT transferred under group registration             46,576    
 Other expenses recharged and exchange differences    13,598    
 Balance at 31 December 2014                          428,764   
 
 
ALD 
 
                                                      $          
 Balance at 31 December 2013                          (955,113)  
 Loans to WI                                          (200,000)  
 Loans transferred to ALDH*                           1,000,000  
 Other expenses recharged and exchange differences    (61,002)   
 Balance at 31 December 2014                          (216,115)  
 
 
ALDHC 
 
                 $            
 Loans to WI*    (1,000,000)  
 
 
*During 2014, ALDHC paid ALD $1,000,000 on behalf of Water Intelligence as
repayment for amounts the ALD advanced to Water Intelligence in previous and
current years. 
 
11  Subsequent events 
 
On 17 February 2015, the Group reacquired a significant amount of territory
from its Miami franchisee, through its wholly owned subsidiary, ALD. 
 
On 25 March 2015, the Group announced the completion of its reacquisition of
its New York franchisee, also through ALD, with the issuance of 50,000
ordinary shares of 1p each in the Group to the former owner. The 50,000 shares
were admitted to AIM on the 30 March 2015, with a total of 10,617,650 ordinary
shares in issue following admission. As the issuance of these shares was part
of the purchase agreement dated 24 February 2014, the increase in share
capital has been accrued as deferred consideration at year end. 
 
On 6 May 2015, the Group reacquired its Detroit / Eastern Michigan franchisee
through its wholly-owned subsidiary ALD.  Such acquisition will be accretive
to sales for 2015. 
 
On 5 June 2015, the Group granted of 317,500 Share Options to the Executive
Chairman and David Silverstone, both directors of the Company, and to certain
Employees, all with an exercise price of 45p. 100,000 of these Share Options
relate to the Executive Chairman's compensation and an additional 50,000 of
these Share Options relate to the Executive Chairman's personnel guarantee of
the loan with Liberty Bank in 2014. 40,000 of these Share Options relate to
compensation payable to David Silverstone. Therefore the total Share Options
outstanding at the date of this report is 1,052,000. 
 
Current trading is referred to in the Chairman's Statement. 
 
12     Annual General Meeting 
 
The AGM of the Company will be held at the office of CMS Advisory Group
Limited, 201 Temple Chambers, 3-7 Temple Avenue, London, EC4Y 0DT at 11 a.m.
on 30 June 2015. 
 
13     Publication of announcement and the report and accounts 
 
A copy of this announcement will be available at the Company's registered
office (201 Temple Chambers, 3-7 Tempe Avenue, London, EC4Y 0DT) 14 days from
the date of this announcement and on its website -
www.waterintelligence.co.uk. This announcement is not being sent to
shareholders. The Annual Report will be posted to shareholders in the near
future and will be made available on the website 
 
This information is provided by RNS
The company news service from the London Stock Exchange