Shefa Yamim (A.T.M.) Ltd Annual Financial Report - DTR 6.3.5 Disclosure (6192X)
April 30 2019 - 9:47AM
UK Regulatory
TIDMSEFA
RNS Number : 6192X
Shefa Yamim (A.T.M.) Ltd
30 April 2019
B"H
30 April 2019
Shefa Yamim (A.T.M.) Ltd
("Shefa Yamim" or the "Company")
Annual Financial Report - DTR 6.3.5 Disclosure
Following the release on 14 March 2019 of the Company's Final
Results Announcement for the financial year ended 31 December 2018,
Shefa Yamim announces that the 2018 Annual Report and Accounts have
been published today. These documents have been made publicly
available on the Shefa Yamim website (www.shefayamim). The annual
report can be found in the Investor section under Articles and
Documents. The direct link is
http://www.shefayamim.com/Articles-and-Documents
A copy of the 2018 Annual Report and Accounts will shortly be
available for inspection at the UK Listing Authority's National
Storage Mechanism website: http://www.morningstar.co.uk/uk/NSM.
The primary purpose of this announcement is to inform the market
about the publication of the Company's Annual Report and Accounts
for the year ended 31 December 2018 (the "2018 Annual Report and
Accounts").
The information below, which is extracted from the 2018 Annual
Report and Accounts, is included solely for the purpose of
complying with DTR 6.3.5 and the requirements it imposes on issuers
as to how to make public annual financial reports. It should be
read in conjunction with the Company's Final Results Announcement.
Together these constitute the material required by DTR 6.3.4 to be
communicated to the media in unedited full text through a
Regulatory Information Service. This material is not a substitute
for reading the full 2018 Annual Report and Accounts. References to
page numbers and notes to the accounts set out in the Appendices
below refer to page numbers and notes to the accounts in the
Company's 2018 Annual Report and Accounts.
The Final Results Announcement includes an indication of the
important events that occurred during the year and a condensed set
of the financial statements.
The Company's auditor has reported on the accounts and its
reports are unqualified. The Independent Auditor's Report on the
Company's financial statements is set out in full on page 28 of the
2018 Annual Report and Accounts.
APPENDIX A - DIRECTORS' RESPONSIBILITY STATEMENT
The 2018 Annual Report and Accounts contain a responsibility
statement in compliance with paragraph 4.1.12 of the DTR. The
directors' responsibility statement is set out on pages 14-15 of
the 2018 Annual Report and Accounts for the Company.
APPENDIX B - PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties are set out on page 11 of
the 2018 Annual Report and Accounts. The full and unedited text
relating to these disclosures are set out below:
The Company is currently at an early stage of mining at the
Kishon Mid Reach Project. The Company currently has no cash
producing properties and therefore no positive cash flow. The
Company will continue to have negative operating cash flow until
commercial production is reached.
The ability of the Company to continue its activities as a going
concern depends to a greater extent on its ability to continue to
raise capital and/or loans. As there has been no previous attempt
to mine for precious stones in Israel, there is a risk as with all
exploration companies that the Company would require additional
funding to complete the exploration plans.
- Ends -
Enquiries
Shefa Yamim (A.T. M.) Ltd
Avi Taub, Chief Executive Officer
www.shefayamim.com +44 20 7618 9100
----------------------------
VSA Capital Limited - Financial Adviser
and Broker
----------------------------
Andrew Raca +44 20 3005 5000
----------------------------
SI Capital Limited - Broker
----------------------------
Greg Mahoney, Nick Emerson and Jon +44 20 3871 4038 / +44 1483
Levinson 413500
----------------------------
Luther Pendragon
----------------------------
Harry Chathli, Alexis Gore, Rachel
So +44 20 7618 9100
----------------------------
Notes to Editors
About Shefa Yamim (A.T.M.)
Shefa Yamim (LSE: SEFA) is a multi-commodity explorer of
precious stones operating in Northern Israel. Exploration activity
is managed by professionally skilled and technically competent
personnel and is accompanied by an international team of geological
experts with decades of proven experience in their fields.
All exploration activities are conducted under international
standards and the internationally recognised SAMREC 2016 Code.
Furthermore, its permits, granted to it by the Commissioner of
Mines, extend over an area of approximately 600,000 Dunam (60,000
hectares) that includes the Kishon River, the volcanic bodies on
Mount Carmel, the Zevulun and Yizre'el valleys and their margins -
Menashe Hills, Tivon-Alonim Hills, and Nazareth range. The Company
upholds environmental values and protects the nature in the areas
where it operates, cooperating fully with all authorities.
Shefa Yamim is currently focused on developing a "Mine to
Market" strategy, which includes exploration, mining, designing and
selling its jewellery pieces containing gemstones from the Holy
Land. As part of this strategy, the Company is collaborating with
award-winning jewellery designer, Yossi Harari, who has created a
unique 24k gold, "Heaven on Earth" jewellery collection with Shefa
Yamim's rare gemstones. www.shefayamim.com
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
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