Interim Management Report
For the six month period ended 30 September 2017

The Company was incorporated in the Isle of Man under the Laws with registered number 013301V on 1 March 2016.  All of the Company's Ordinary Shares were admitted to the London Stock Exchange's Main Market and commenced trading on 15 February 2017.

The Company expects to focus on acquiring an exploration or production company or business in the natural resources sector with either all or a substantial portion of its operations in South East Asia, Africa, and the Middle East.

Results for the period and distributions

The total comprehensive loss attributable to the equity holders of the Company for the period was  £88,801 (31 March 2017: £199,789).

Principal risks and uncertainties

The Company's activities expose it to a variety of financial risks: market risk, credit risk, and liquidity risk. The Company's principal financial instruments comprise cash balances, accounts payable and accounts receivable arising in the normal course of its operations.

The Company's objectives when managing capital are to safeguard the Company's ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.

As at 30 September 2017, there is no significant exposure to liquidity or price risk the only credit risk applicable is over the cash balance which is held with a reputable bank.

Directors

The following directors have held office during the period:

Corporate Governance

As a company with a Standard Listing, the Company is not required to comply with the provisions of the Corporate Governance Code. Although, the Company does not comply with the UK Corporate Governance Code, the Company intends to adopt corporate governance procedures as are appropriate for the size and nature of the Company and the size and composition of the Board. These corporate governance procedures have been selected with due regard to for the provisions of the Corporate Governance Code insofar as is appropriate.

Statement of directors' responsibilities

The Directors confirm that, to the best of their knowledge, this condensed consolidated interim financial information have been prepared in accordance with IAS 34 as adopted by the European Union and that the interim management report herein includes a fair review of the information required by DTR 4.2.7 and DTR 4.2.8 namely

·    an indication of important events that have occurred during the first six months and the impact on the Interim Report, and a description required by the principal risks and uncertainties for the remaining six months of the financial year; and

·    material related party transactions in the first six months and any material changes in the related party transactions described in the last annual report.

Director
04 December 2017

There was no other comprehensive income for the six month period ended 30 September 2017.

The accompanying notes below form an integral part of the financial statements.

Statement of Financial Position as at 30 September 2017

The accompanying notes below form an integral part of the financial statements.

The financial statements were approved and authorised for issue by the Board of Directors on 04 December 2017 and were signed on its behalf by:

Cameron Pearce                                   Sam Quinn

Director                                                Director

Statement of Changes in Equity
for the six month period ended 30 September 2017

Statement of Cash Flows
for the six month period ended 30 September 2017

The accompanying notes below form an integral part of the financial statements.

Notes to the Financial Statements
for the six month period ended 30 September 2017

1.   General information

Emmerson plc (the "Company") is a company incorporated and domiciled in the Isle of Man.

The principal activities of the Company are described in Directors' report.  The Company had no employees during the period other that Directors.

2.   Basis of preparation

2.1     Statement of compliance

These financial statements have been prepared in accordance with and comply with International Financial Reporting Standards ("IFRS") as adopted by the European Union, International Financial Reporting Interpretations Committee ("IFRIC") interpretations and the Isle of Man Companies Act 2006.

2.2     Basis of preparation

The financial statements have been prepared on a historical cost basis.

2.3     Going concern

The Company's business activities, together with the factors likely to affect its future development, performance and positions are set out in the Chairman's Statement.

The Company is an investment company, and currently has no income stream until a suitable acquisition is identified, it is therefore dependent on its cash reserves to fund ongoing costs.

The Directors have reviewed the Company's ongoing activities including its future intentions in respect of acquisitions and having regard to the Company's existing working capital position and its ability to potentially raise finance, if required, the Directors are of the opinion that the Group has adequate resources to enable it to continue in existence for a period of at least 12 months from the date of these financial statements.

2.4     Use of estimates and judgments

The preparation of financial statements in accordance with the standards and interpretations noted in section 2.1 above requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.  The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 4.

2.5     Future changes in accounting policies

At the date of authorisation of this financial information, the directors have reviewed the Standards in issue by the International Accounting Standards Board ("IASB") and IFRIC, which are effective for annual accounting periods ending on or after the stated effective date. In their view, none of these standards would have a material impact on the financial reporting of the Company.

The directors do not expect that the adoption of these standards will have a material impact on the financial statements of the company except that IFRS 9 will impact both the measurement and disclosures of financial instruments.

3.   Administrative fee and other expenses

The company did not employ any staff during the period other than Directors. The Directors are the only members of Key Management and their remuneration related solely to short term employee benefits.

4.   Loss per share

The calculation of the basic and diluted loss per share is based on the following data:

There are no potentially dilutive shares in issue.

5.   Stated capital

The Ordinary Shares issued by the Company have a no par value and each Ordinary Share carries one vote on a poll vote.

6.   Financial instruments

Financial liabilities held at amortised cost are made up of trade and other payables of £3,609 (March 2017: £8,351) and accruals of £7,680 (March 2017: £28,400).

7.   Events after the reporting date

There were no significant subsequent events.