Unaudited Financial Results to December 31 2019 PR Newswire

20 July 2020

CLEAN INVEST AFRICA PLC

("CIA" or the "Company")

UNAUDITED FINANCIAL RESULTS FOR THE PERIOD FROM 1 OCTOBER 2018 TO 31 DECEMBER 2019

Clean Invest Africa plc, the Aquis Stock Exchange Growth Market ("Aquis") quoted investment company, together with CoalTech Limited and Coal Agglomeration South Africa (Pty) Ltd (collectively the “Group”) focused on delivering an attractive return through acquiring stakes in clean energy companies, remediation/restoration technologies, waste-to-energy technologies and other clean energy related projects is pleased to present the unaudited combined financial results for the period from 1 October 2018 to 31 December 2019. Earlier today we have also published our latest trading update.

FINANCIALS

The unaudited combined financial results for the period 1 October 2018 to 31 December 2019 show a loss after taxation of GBP967,896.

Filippo Fantechi, Chief Executive Officer of Clean Invest Africa, commented:

“I am pleased to present the unaudited combined financial results of the Group.

I am pleased with the progress made in this initial period, notwithstanding the impacts on the Group’s business of the COVID-19 pandemic, and look forward to continuing to update shareholders on the progress of the Group and the exciting prospects ahead, some of which are developing reasonably fast. We continue to seek new investment opportunities and will advise shareholders as they come to fruition.“

Filippo Fantechi

Chief Executive Officer/Executive Director

20 July 2020

The Directors of the Company accept responsibility for the content of this announcement.

ENQUIRIES:

Company

Clean Invest Africa PLC

Filippo Fantechi - Chief Executive Officer/Executive Director

Telephone: +973 3 9696273

Corporate Adviser

Peterhouse Capital Limited

Guy Miller

Telephone: +44 20 7469 0930

CLEAN INVEST AFRICA PLC

COMBINED UNAUDITED INCOME STATEMENT

FOR THE PERIOD 1 OCTOBER 2018 TO 31 DECEMBER 2019


                                For the period ended 31 For the period ended 30
                                          December 2019          September 2018

                                              Unaudited                 Audited

                                                    GBP                     GBP

Revenue                                               -                       -

Cost of sales                                         -                       -

Gross profit                                          -                       -

Administrative expenses                       (973,885)               (204,415)

Operating loss                                (973,885)               (204,415)

Finance income                                        6                     337

Finance costs                                  (10,188)                       -

Loss before income tax                        (984,067)               (204,078)

Income tax                                            -                       -

Loss for the financial period                 (984,067)               (204,078)
attributable to the Company's
equity shareholders

Loss per share from operations

Basic and diluted loss per                     (0.0021)                (0.0015)
share (GBP)



CLEAN INVEST AFRICA PLC

COMBINED STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD 1 OCTOBER 2018 TO 31 DECEMBER 2019


                               For the period ended 31 For the period ended 30
                                         December 2019          September 2018

                                             Unaudited                 Audited

                                                   GBP                     GBP

Loss for the period                          (984,067)               (204,078)

Gain on translation to                          25,071                       -
presentation currency

Other comprehensive loss                       (8,900)                       -

Total comprehensive loss for                 (967,896)               (204,078)
the period
attributable to the Company's
equity
shareholders



CLEAN INVEST AFRICA PLC

COMBINED STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2019


                                            As at 31 December As at 30 September
                                                         2019               2018

                                                    Unaudited            Audited

                                                          GBP                GBP

Assets

Non-current assets

Tangible fixed assets                                 494,758                  -

Right-of-use assets                                    55,644                  -

Debtors: amounts falling due after more             3,431,989                  -
than one year

Investments                                        26,806,099            358,362

Total non-current                                  30,788,490            358,362
assets

Current assets

Trade and other                                       105,813              5,080
receivables

Inventories                                             8,766                  -

Cash and cash                                          13,231             68,602
equivalents

Total current assets                                  127,810             73,682

Total assets                                       30,916,300            432,044

Liabilities

Current liabilities

Trade and other                                     1,260,254             22,622
payables

Total current                                       1,260,254             22,622
liabilities

Net current                                       (1,132,444)             51,060
(liabilities)/assets

Non-current
liabilities

Creditors: amounts falling due after more           5,027,291                  -
than one year

Total non-current liabilities                       5,027,291                  -

Net assets                                         24,628,755            409,422

Equity

Capital and reserves attributable to equity
shareholders:

Share capital                                       2,844,413            402,750

Share premium                                      24,623,938            210,750

Accumulated loss                                  (2,839,596)          (204,078)

Total equity                                       24,628,755            409,422



CLEAN INVEST AFRICA PLC

COMBINED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDING 31 DECEMBER 2019


                             Share      Share Accumulated

                           capital    premium      losses Total Equity

                               GBP        GBP         GBP          GBP

For the period ended             -          -           -            -
18 September 2017

Issue of share capital     402,750    236,250           -      639,000

Cost of shares issued            -   (25,500)           -     (25,500)

Total comprehensive loss         -          -   (204,078)    (204,078)

for the period

For the period ended       402,750    210,750   (204,078)      409,422
30 September 2018

Issue of share capital   2,441,663 24,413,188           -   26,854,851

Pre-acquisition                  -          - (1,667,622)  (1,667,622)
accumulated losses

Total comprehensive loss         -          -   (967,896)    (967,896)
for the period

For the period ended     2,844,413 24,623,938 (2,839,596)   24,628,755
31 December 2019



CLEAN INVEST AFRICA PLC

COMBINED STATEMENTS OF CASH FLOWS

FOR THE PERIOD 1 OCTOBER 2018 TO 31 DECEMBER 2019


                                 For the period ended 31 For the period ended 30
                                           December 2019          September 2018

                                               Unaudited                 Audited

                                                     GBP                     GBP

Operating activities

Loss for the period before                     (967,896)               (204,078)
income tax

Add: Depreciation (non-cash)                       8,550
                                                                               -

Increase in right-of-use assets                 (64,194)                       -

Increase in debtors: amounts                 (3,431,989)                       -
falling due after
more than one year

Increase in trade and other                    (100,733)                 (5,080)
receivables

Increase in inventories                          (8,766)                       -

Increase in trade and other                    1,237,632                  22,622
payables

Increase in creditors: amounts                 5,027,291                       -
falling due after
more than one year

Net cash generated from/ (used                 1,699,895               (186,536)
in) operating
activities

Investing activities

Purchase of tangible fixed                     (494,758)                       -
assets

Purchase of investments                          (5,248)               (358,362)

Pre-acquisition accumulated                  (1,309,260)                       -
losses,
net of investments

Net cash used in investing                   (1,809,266)               (358,362)
activities

Financing activities

Proceeds from issue of shares                     54,000                 639,000

Issue costs                                            -                (25,500)

Net cash generated from                           54,000                 613,500
financing activities

Net (decrease)/ increase in                     (55,371)                  68,602
cash and cash
equivalents

Cash and cash equivalents at                      68,602                       -
beginning of
period

Cash and cash equivalents at                      13,231                  68,602
end of period