Mingo Bay Properties PLC
Mingo Bay Properties PLC: Audited Financials
Mingo Bay Properties PLC / Final Results 22.06.2010 09:00 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- 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@MingoBayPLC.com 2nd Floor, Vintners Place, Web: www.MingoBay.com 68 Upper Thames Street, London EC4V 3BJ, United Kingdom UK Company No. 04996793Aragon 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 33,878,661Aragon Labs PLC 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 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found