Final Results and Notice of AGM

Westside Investments plc, the AIM listed investment vehicle, announces its results for the year ended 31 December 2014 and gives notice of its Annual General Meeting to be held at the Hellenic Centre 16/18 Paddington Street, London W1U 5AS on 27 July 2015 at 11.00am.

Chairman's Statement and Chief Executive's Review

For the year ended 31 December 2014 we are reporting a pre tax profit of £16,590 (2013: loss £379,742). The profit for the year is after impairment provisions of nil (2013 - £137,524).

Westside's net cash balances as at 31 December 2014 were £709,332 (2013: £412,388). The Directors are not recommending the payment of a dividend.

In 2013, we announced the intention to develop a new "free to view online platform" to offer children a multi sports information and news service linked to the skill sets programme already operated within our existing programme of sports coaching in schools.

During 2014, we continued our programme to develop the UltimatePlayer.me brand and we expect in 2015 to secure definitive progress during the second half of the year.

Pantheon Leisure Plc ("Pantheon")

Westside holds 85.87% of the issued share capital of Pantheon which in turn owns 100% of the operating business of Pantheon's sport and leisure division.

Pantheon's sports and leisure division comprises two trading companies, Sport in Schools Limited ('ESS'), also known as The Elms Sport in Schools, and Football Partners Limited ('FPL') - also known as The Elms Small Sided Football.

Pantheon as a group made a profit of £400,562 for the 12 months ended 31 December 2014 as a result of its trading operations and sale of investments. (2013: £34,416)

Sport in Schools Limited ('ESS' - Elms Sport in Schools)

On a turnover of £1,240,527 (2013 - £1,233,336), ESS has contributed a divisional profit of £115,649 as compared with £97,630 last year.

ESS specialises in the delivery of primary school sport - covering The National Curriculum during the day and The Extended Day before and after school hours (breakfast, lunchtime and after-school clubs).

The majority of the breakfast and lunchtime clubs are provided and paid for by the school, whilst the majority of after-school clubs are paid for by parents.

Holiday camps are a successful area for ESS where we provide sports tuition during the school holidays. The majority of the camps are paid for by parents, whilst a few are paid for by the school.

The ESS directors have developed bespoke skill sets which have been adopted with great enthusiasm by our full time and part time coaches. They coach 21,000 children each week and on average coach between 12 to 25 hours a week. All our coaches are highly qualified (minimum level 2), DBS checked, Child protection vetted and are rigorously trained by ESS in all the main disciplines required by the National Curriculum. The management of ESS constantly monitors and assesses the level of performance of our coaches throughout the school year.

We continue to recognise the performance of the children through our specialised league tables dedicated to each school which operates under our new brand of Ultimate Player.

We are enthusiastic about the further development of the Ultimate Player brand as we launch UltimatePlayer.me and tap into the ESS platform which is already established and continues to grow.

UltimatePlayer.me

As referred to earlier in the Statement, since late 2013 we have been developing UltimatePlayer.me as a new "free to view online platform" dedicated to bring to children an ability to measure their own individual skill sets.

We have invested considerable time and money in this programme and the second stage of the programme is expected to launch during the second half of 2015.

We have adopted procedures to ensure that UltimatePlayer.me will comply as far as we are able and as far is possible with best practise to protect the children visiting UltimatePlayer.me. This, of course, includes privacy over any personal information registered children entrust us with.

Our intention is that the Ultimate Player programme should provide an innovative, secure, interactive and exciting online platform that will stimulate interest in sport, fitness and statistics. As we fulfil our intentions and objectives we are confident that UltimatePlayer.me will establish a significant value as the brand becomes recognised and revenues are generated from specific enterprises wanting to advertise or act as sponsors.

As a result of the development programme over the last 24 months, we believe that in the second half of this year and into 2016 we shall see the breakthrough and establishment of UltimatePlayer.me.

Football Partners Limited ('FPL')

Our 5-a-side football operation enjoys full FA accreditation and its activities (conducted through FPL) continue to be influenced by a difficult market and the loss of a key venue. Turnover (net of corporate fees) decreased by 8% to £405,116 and this resulted in an operating loss of £164,901.

Westside Mining Plc ('Mining')

Mining is a joint venture owned 50:50 with Mr Bruce Rowan. In view of a less than buoyant market its directors elected to delay any investment in the mining, commodity and natural resource sectors.

Reverse Take-Over Investments Plc ('RTI')

The investments held by RTI are as follows:

Messaging International Plc ('Messaging')

RTI and Westside continue to hold a total of some 4.5 million ordinary shares representing approximately 3.9% of the issued share capital.

Aeorema Communications Plc ('Aeorema')

At 31 December 2014, RTI held 300,000 ordinary shares representing some 3.47% of the issued share of Aeorema, now reduced to 30,000 ordinary shares following a disposal of shares in May 2015.

Outlook

We continue to be encouraged by the success of the sports tuition activities of ESS and consider that its potential represents a significant opportunity for growth.

As anticipated in last year's report, the more comprehensive second phase and pilot launch of the UltimatePlayer.me programme will take place during the second half of 2015. It will be innovative, secure and exciting as it provides the skill sets package for registered children. The objective of the programme will be to encourage children to improve their fitness levels and sporting skills.

We are confident that SIS and UltimatePlayer.me working together and taken together will represent the growth and future value to shareholders of Westside Investments Plc. At the time of the pilot launch of UltimatePlayer.me, Westside will consider changing its corporate name to reflect the increasing emphasis of the group on sports related activities.

We look forward to updating shareholders on progress.
Richard Owen
Chairman

Geoffrey Simmonds
Chief Executive Officer

11 June 2015

To download the Final Report in PDF format please click here

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