QUESTE COMMUNICATIONS LIMITED — Interim / Quarterly Report 2014

Jul 13, 2014

Current Month Year to Date Current Month Year to Date June 14 12 months June 14 12 months

Company Consolidated

Month Ended 30 June 2014

June 2014 Monthly Cash Flow Report

Name of entity:

QUESTE COMMUNICATIONS LTD and controlled entity

ACN or ARBN
081 688 164

Consolidated statement of cash flows

				Cash flows related to operating activities
--	--	--	--	--------------------------------------------	--

		$' 000	$' 000	$' 000	$' 000
	Cash flows related to operating activities
1.1	Receipts from customers	-	-	14	217
1.2	Payments for
	staff costs(a)	95	(153)	26	(608)
	advertising and marketing(b)	-	-	-	-
	research and development(c)	-	-	-	-
	leased assets(d)	-	-	-	-
	other working capital(e)	11	(206)	(45)	(761)
1.3	Dividends received	-	18	-	223
1.4	Interest and other items of a similar nature received	2	21	3	72
1.5	Interest and other costs of finance paid	-	-	-	-
1 61.6	Income taxes (paid)/refundIncome taxes	-	-	-	-
1.7	Other (provide details if material)	-	-	-	-
	Net operating cash flows	108	(320)	(2)	(857)

Notes:

The Company currently has a 58.90% (31 May 2014: 58.68%) interest in ASX listed investment company, Orion Equities Limited ("OEQ"). OEQ is a controlled entity of the Company under the Accounting Standards. Therefore, the Consolidated columns in this Monthly Cash Flow Report takes into account the cash flows of the Company and its controlled entity, including OEQ.

The Company's interest in OEQ increased during the month as a consequence of OEQ cancelling 58,861 shares bought-back pursuant to an on-market share buy-back.

			Company		Consolidated
		Current Month	Year to Date	Current Month	Year to Date
		June 14	12 months	June 14	12 months
		$' 000	$' 000	$' 000	$' 000
1.8	Net operating cash flows (carried forward)	108	(320)	(2)	(857)
	Cash flows related to investing activities
1.9	Payment for acquisition of:
	businesses (item 5)(a)	-	-	-	-
	equity investments(b)	(250)	(250)	(500)	(500)
	(c)intellectual property	-	-	-	-
	(d)physical non-current assets	-	(10)	-	(28)
	other non-current assets			-	-
	(e)	-	-
1.10	Proceeds from disposal of:
	businesses (item 5)(a)	-	-	-	-
	equity investments(b)	-	-	-	-
	intellectual property(c)	-	-	-	-
	physical non-current assets(d)	-	-	-	-
	other non-current assets(e)	-	-	-	-
1.11	Loans to other entities	-	-	-	-
1.12	Loans repaid by other entities	-	-	-	-
1.13	Other (provide details if material)
	- Distribution of capital return from equity investment	-	17	-	223
	Net investing cash flows	(250)	(243)	(500)	(305)
1.14	Total operating and investing cash flows	(142)	(563)	(502)	(1,162)
	Cash flows related to financing activities
1.15	Proceeds from issues of shares, options, etc.	-	-	-	-
1.16	Proceeds from sale of forfeited shares	-	-	-	-
1.17	Proceeds from borrowings	-	-	-	-
1.18	Repayment of borrowings	-	-	-	-
1.19	Dividends paid	-	-	-	-
1.20	Other (provide details if material)
	- Proceeds from calls on Partly Paid Shares	185	185	185	185
	- QUE Off-Market Share Buy Back	(1)	(109)	(1)	(109)
	- OEQ On-Market Share Buy Back	-	-	-	(493)
	Net financing cash flows	184	76	184	(417)
	Net increase (decrease) in cash held	42	(487)	(318)	(1,579)
1.21	Cash at beginning of month/year to date	545	1,073	1,507	2,766
1.22	Exchange rate adjustments to item 1.20	-	1	-	2
1.23	Cash at end of month	587	587	1,189	1,189

related entities Payments to related entities of the entity and associates of the Payments to directors of the entity and associates of the directors

		Current Month
		June 14
		$' 000
1.24	Aggregate amount of payments to the parties included in item 1.2	44
1.25	Aggregate amount of loans to the parties included in item 1.11	-

1.26 Explanation necessary for an understanding of the transactions

Payments for Staff costs (in Item 1.24) includes:
(1) $12,287 Attributable to the Company; and
(2) $31,256 Attributable to Controlled Entity, OEQ.

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

None.

2 2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity 2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting has an interest

None.

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

		Amt available	Amount used
		$' 000	$' 000
3.1	Loan facilities	-	-
3.2	Credit standby arrangements	-	-

Reconciliation of cash		Company		Consolidated
Reconciliation of cash at the end of the month (as shown in		Current	Previous	Current	Previous
	the consolidated statement of cash flows) to the related	Month	Month	Month	Month
items in the accounts is as follows:		$' 000	$' 000	$' 000	$' 000
4.1	Cash on hand and at bank	566	325	1,118	587
4.2	Deposits at call	21	220	71	920
4.3	Bank overdraft	-	-	-	-
4.4	Other (Bank Bills)	-	-	-	-
	Total: cash at end of month (item 1.23)	587	545	1,189	1,507

Acquisitions and disposals of business entities

	Name of entity
--	----------------	--	--

• Place of incorporation or registration
• Consideration for acquisition or disposal
• Total net assets
• Nature of business

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Law (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.
• 2 This statement does give a true and fair view of the matters disclosed.

Victor Ho Company Secretary

		(Item 1.9(a))		(Item 1.10(a))
5.1	Name of entity	-	-	-	-
5.2	Place of incorporation or registration	-	-	-	-
5.3	Consideration for acquisition or disposal	-	-	-	-
5.4	Total net assets	-	-	-	-
5.5	Nature of business	-	-	-	-

Acquisitions Disposals

Date: 14 July 2014

The Company currently holds the following listed share investments and investments in unlisted managed funds:

	No Shares/Units	% Interest	Last Bid Price	Market Value
Shares in Orion Equities Limited (OEQ)	9,367,653	58.90 %	$0.260	$2,435,590
Shares in Bentley Capital Limited (BEL)	1,740,625	2.36 %	$0.145	$252,391
Shares (Other)	-	-	-	$4,176
Units in unlisted managed fund	154,902	-	$1.613	$249,880
				$2,942,037

The above investments are regarded as liquid assets to supplement the Company's cash reserves.