("Veni Vidi Vici" or the "Company")
Interim Results for the six months ended 30 June 2019
Veni Vidi Vici announces its unaudited interim results for the six months ended 30 June 2019.
Overview
In
In December 2018 the Company completed its first investment, with the signing of the sale and purchase agreement with Goldfields
Pursuant to the terms of the SPA, Veni Vidi Vici and Goldfields have entered into a lock-in agreement whereby Goldfields has agreed to restrict its ability to sell the Consideration Shares for a period of three months.
In addition, the Company and Goldfields have entered into a joint venture agreement ("JVA") under which Veni Vidi Vici will be responsible for an initial expenditure fee of
Further updates will be provided over the coming period.
FINANCE REVIEW The loss for the period to 30
The interim accounts to
Director 15 October 2019
The directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
Unaudited Condensed Company Statement of Comprehensive Income
|
|
|
6 months to |
Period ended |
|
|
30 |
31 |
|
|
Unaudited |
Audited |
|
Notes |
£'000 |
£'000 |
Continuing operations |
|
|
|
Revenue |
|
|
|
Investment income |
|
- |
- |
Total gains on AFS investments |
|
- |
- |
|
|
|
|
Administrative costs |
|
(56) |
(78) |
Share based payments |
|
- |
(25) |
|
|
|
|
Operating (loss) |
|
(56) |
(103) |
|
|
|
|
Finance costs |
|
- |
- |
(Loss) before tax |
|
(56) |
(103) |
|
|
|
|
Taxation |
|
- |
- |
(Loss) for the period |
|
(56) |
(103) |
|
|
|
|
Other comprehensive income |
|
|
|
Translation exchange (loss)/gain |
|
- |
- |
Other comprehensive income for the period net of taxation |
|
- |
- |
Total Comprehensive Income for the year attributable to the owners of the parent company |
|
(56) |
(103) |
|
|
|
|
(Loss) per share: |
|
|
|
Basic and diluted (loss) per share (pence) |
2 |
(3.29) |
(10.96) |
Unaudited Condensed Company Statement of Financial Position
as at 30 June 201 9
|
|
|
31 |
|
|
Unaudited |
Audited |
|
Notes |
£'000 |
£'000 |
ASSETS |
|
|
|
Non-current assets |
|
|
|
Intangible assets |
|
136 |
136 |
|
|
136 |
136 |
|
|
|
|
Current assets |
|
|
|
Trade and other receivables |
|
2 |
6 |
Cash and cash equivalents |
|
384 |
450 |
|
|
386 |
456 |
|
|
|
|
Total assets |
|
522 |
592 |
|
|
|
|
LIABILITIES |
|
|
|
Current liabilities |
|
|
|
Trade and other payables |
|
(33) |
(42) |
Total current liabilities |
|
(33) |
(42) |
|
|
|
|
Total liabilities |
|
(33) |
(42) |
|
|
|
|
Net Assets |
|
489 |
550 |
|
|
|
|
EQUITY |
|
|
|
Equity attributable to equity holders of the parent |
|
|
|
Share capital |
|
- |
- |
Share premium account |
|
623 |
628 |
Share based payment reserve |
|
25 |
25 |
Retained earnings |
|
(159) |
(103) |
Total equity |
|
489 |
550 |
Unaudited Condensed Company Statement of Changes in Equity
for the six months ended 30 June 201 9
|
Share capital |
Share premium |
Share based payment reserve |
Retained earnings |
Total attributable to owners of parent |
Unaudited
|
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
Balance at |
- |
- |
- |
- |
- |
|
|
|
|
|
|
Loss for the period |
- |
- |
- |
(103) |
(103) |
Total comprehensive income for the period |
- |
- |
- |
(103) |
(103) |
|
|
|
|
|
|
Shares issued |
- |
723 |
|
|
723 |
Share issue costs |
|
(95) |
|
|
(95) |
Share options issued |
- |
- |
25 |
- |
25 |
Transactions with owners of the company |
- |
628 |
25 |
- |
653 |
|
|
|
|
|
|
Balance at 31 |
- |
628 |
25 |
(103) |
550 |
|
|
|
|
|
|
Loss for the period |
- |
- |
- |
(56) |
(56) |
Total comprehensive income for the period |
- |
- |
- |
(56) |
(56) |
|
|
|
|
|
|
Share Issue costs |
- |
(5) |
- |
- |
(5) |
Transactions with owners of the company |
- |
(5) |
- |
- |
(5) |
|
|
|
|
|
|
Balance at 30 |
- |
623 |
25 |
(159) |
489 |
Unaudited Condensed Company Statement of Cash Flows
for the six months ended 30 June 20 19
|
|
6 months to |
Year to |
|
|
|
|
|
|
Unaudited |
Audited |
|
|
£'000 |
£'000 |
Cash flows from operating activities |
|
|
|
Operating (loss) |
|
(56) |
(103) |
Adjustments for: |
|
|
|
Share based payment charge |
|
- |
25 |
Decrease/(increase) in trade and other receivables |
|
4 |
(6) |
(Decrease)/increase in trade and other payables |
|
(9) |
42 |
Net cash used in operating activities |
|
(61) |
(42) |
|
|
|
|
Investing activities |
|
|
|
Finance Costs |
|
- |
- |
Investment in intangible assets |
|
- |
(13) |
Net cash outflow in investing activities |
|
- |
(13) |
|
|
|
|
Financing activities |
|
|
|
Issue of share capital |
|
- |
600 |
Issue costs |
|
(5) |
(95) |
Net cash from financing activities |
|
(5) |
505 |
|
|
|
|
Net change in cash and cash equivalents |
|
(66) |
450 |
|
|
|
|
Cash and cash equivalents at beginning of period |
|
450 |
- |
Cash and cash equivalents at end of period |
|
384 |
450 |
Notes to the condensed interim financial statements
1. General Information
Basis of preparation and accounting
The financial information has been prepared on the historical cost basis. The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Chairman's Statement. This statement also includes a summary of the Company's financial position and its cash flows.
These condensed interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the
2. Earnings per share
The calculation of the basic earnings per share is based on the earnings attributable to ordinary shareholders divided by the weighted average number of shares in issue during the year. The calculation of diluted earnings per share is based on the basic earnings per share, adjusted to allow for the issue of shares and the post-tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.
Reconciliations of the earnings and weighted average number of shares used are set out below.
|
Six months to |
Period ended |
|
30 |
31 |
|
(Unaudited) |
(Audited) |
|
(£'000) |
(£'000) |
Net loss attributable to equity holders of the company |
(56) |
(103) |
|
|
|
Number of shares Weighted average number of ordinary Shares for the purposes of basic loss per share |
1,720,003 |
933,691 |
|
|
|
Basic and diluted loss per share (pence) |
(3.29) |
(10.96) |
3. Events after the reporting date
On
ISIN: | VGG9404A1030 |
Category Code: | MSCH |
LSE Ticker: | VVV |
LEI Code: | 213800OEUSH43X859D83 |
Sequence No.: | 23468 |
EQS News ID: | 890551 |
End of Announcement |
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