REG - Obtala Resources Ltd - Half Yearly Report <Origin Href="QuoteRef">OBT.L</Origin> - Part 2

WoodboisAnnouncement

29/10/2014 15:01

- Part 2: For the preceding part double click  ID:nRSc7840Sa 

      (2,337)          
 At 31 December 2013                               38,215                       (2,297)     35,918           
 Profit for the period                             (219)                        -           (219)            
 Purchase of own shares                            -                            -                            
 Dilution of interest in subsidiary (see note 13)  (1,172)                      -           (1,172)          
 At 30 June 2014                                   36,804                       (2,297)     34,507           
 
 
Own shares held by the Trust represent the cost of Obtala Resources Limited
shares purchased in the market and through subscription and held by the Obtala
Resources Limited Employee Share Trust jointly with a number of the Group's
employees. At 30 June 2014 4,350,000 shares were held by the trust (June 2013:
4,350,000 December 13: 4,350,000) 
 
11. DEEMED PARTIAL DISPOSAL OF SUBSIDIARY UNDERTAKING 
 
In the six months to 30 June 2014 the Company's listed subsidiary Paragon
Diamonds Limited ("Paragon") issued 7,000,000 new shares to non-controlling
interests raising cash proceeds of £50,000 and issued 35,471,510 new ordinary
shares in order to acquire the remaining shares in a subsidiary of Paragon. 
 
This diluted Obtala's interest in Paragon to xx.x% and created a deemed
disposal for the Group resulting in a loss recognised in equity of £1.3
million. 
 
12. NON-CONTROLLING INTEREST 
 
                                                                            £'000   
 At 1 January 2013                                                          17,546  
 Non-controlling interests in net assets on partial disposal (see note 12)  2,782   
 Non-controlling interests in share of losses post acquisition              (465)   
 Non-controlling interests in foreign exchange gains                        364     
 At 30 June 2013                                                            20,227  
 Non-controlling interests in net assets on partial disposal (see note 12)          
 Non-controlling interests in share of losses post acquisition                      
 Non-controlling interests in foreign exchange gains                                
 At 31 December 2013                                                        41,436  
 Non-controlling interests in net assets on partial disposal (see note 12)  3,174   
 Non-controlling interests in share of losses post acquisition              (151)   
 Non-controlling interests in foreign exchange gains                        (281)   
 At 30 June 2014                                                            44,177  
                                                                                    
 
 
13.  INTERIM FINANCIAL REPORT 
 
A copy of this interim report will be distributed to shareholders and is also
available on the Company's website at www.obtalaresources.com 
 
This information is provided by RNS
The company news service from the London Stock Exchange