GLOBE CAPITAL LIMITED - Trading Statement Update Q1 2016 PR Newswire

30 June 2016

Globe Capital Limited  

("Globe Capital" or “the Company”)

Trading Statement Update Q1 2016

Globe Capital is pleased to publish a trading statement for the first quarter ending 31 March 2016.

Key Highlights:

    --  Raised £100,500 in new equity

    --  First investment in Sterling Craig

    --  Realigned investment focus towards the retail sector and menwear.

Review of Business and Key Developments:

During the period under review, the Company has kept costs at a minimum level with operating expenses for the period at £57,000. Net assets amounted to £14,000 with cash of £19,000.

In January 2016, the Company raised £100,500 in new equity with proceeds used to support the Company’s working capital requirements.

The Company has realigned its investment focus towards the retail sector with a particular emphasis on menswear. In line with the new investment focus, the Company acquired a 25% stake in Sterling Craig Ltd for £12,500 in cash. Sterling Craig is an online retailer and provides an opportunity for the Company to enter the men’s retail fashion business.

In January 2016, Wong Xinyan left the Company while I was appointed your Chairman.

The Directors are presently reviewing a number of investment opportunities and expects to raise additional funds in the near future to support working capital requirements and investment plans.

David Barnett

30 June 2016

The directors of Globe Capital Ltd accept responsibility for this announcement.

For further information:

Globe Capital Limited
Christopher Neo, Company Secretary
+44 (0)20 3286 6388

Alexander David Securities Limited
David Scott – Corporate Finance
James Dewhurst – Institutional Sales 
Telephone: +44 (0) 20 7448 9820

49 Queen Victoria Street, London EC4N 4SA