31 October 2019

BWA GROUP PLC

(“BWA” or the “Company”)

Audited Results for the year ended 30 April 2019

REVIEW OF BUSINESS

As shareholders will be aware the company completed a significant transaction on 30 September 2019 with the acquisition of Kings of the North Corp.  No effects of this acquisition are included in this review.

In the period to 30 April 2019, the objective of the Company had been to find a suitable candidate for a reverse take-over and, in the meantime, to invest in smaller opportunities that may arise.

In the period under review your directors continued to nurture the two early stage investments in which the Company already has a direct interest, namely Prepaid Card Services Limited, formerly Prego International Limited, and the combined BWA Resources (UK) Limited/Mineralfields Group Limited development in Cameroon.   Both investments are held as Available-For-Sale as it is the intention to realise their value as soon as practicable.

The Cameroon activity has continued with its negotiations to obtain mining licences in that country.  Regrettably, progress has been very slow and it is little comfort that almost no licences for any mining activities have been awarded in Cameroon in the last year.  The total value attributed to the Cameroon activity at 30 April 2019, including loans made to Mineralfields and BWA Resources, was £453,961.  The additional mining expertise available to BWA following the acquisition of KOTN will be helpful in exploring opportunities in Cameroon.

Prepaid Card Services Limited, formerly Prego International Limited, (Prego), is a programme manager for the issuance of Prepaid Master- and Visa-Cards, targeted at migrant workers in the Far East and Europe, with an initial concentration in the case of Europe on Norway and the Scandinavian countries.  Prego's development has been considerably slower than we originally hoped but we are working to produce an acceptable result for our shareholders.   Prego's stated intention remains to list its shares on a stock market at the earliest opportunity, possibly by means of a takeover.  The Company's investment in Prego is valued at £314,365 which is the price at which BWA last sold a small part of its holding.

The Board is hopeful that these two investments will yield a return over the medium term having obtained the additional finance they require, obtained market listings or been the subject of trade sales.

KEY PERFORMANCE INDICATOR

The key performance indicator of the company is the valuation of its investment portfolio.  At 30 April 2019 the value of the company's portfolio was £608,169 (2018: £610,046).

For further information please contact:

BWA Group PLC

Richard Battersby (Non-Executive Chairman)

07836 238 172

Vilhjalmur Thor Vilhjalmsson (Chief Executive Officer)

00 354 869 7296

Peterhouse Capital Limited

Mark Anwyl

020 7469 0930

INCOME STATEMENT FOR THE YEAR ENDED 30 APRIL 2019

                                                  2019      2018

                                                    £        £

TURNOVER                                            -        -

Administrative expenses                          110,876   62,232

                                                 110,876   62,232

Other operating income                              -       891

OPERATING LOSS                                  (110,876) (61,341)

Interest receivable and similar income             48        10

                                                (110,828) (61,331)

Interest payable and similar expenses           (32,577)  (7,510)

LOSS BEFORE TAXATION                            (143,405) (68,841)

Tax on loss                                         -        -

LOSS FOR THE FINANCIAL YEAR                     (143,405) (68,841)

Earnings per share expressed in pence per share

Basic                                             -0.12    -0.06

Diluted                                           -0.12    -0.06

OTHER COMPREHENSIVE INCOME  FOR THE YEAR ENDED 30 APRIL 2019

                                                             2019      2018

                                                               £        £

LOSS FOR THE YEAR                                          (143,405) (68,841)

OTHER COMPREHENSIVE INCOME

Unrealised gain/(loss) on revaluation of investments        (1,877)  (8,226)

Income tax relating to other comprehensive income              -        -

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX
                                                            (1,877)  (8,226)

TOTAL COMPREHENSIVE LOSS FOR THE YEAR                      (145,282) (77,067)

BALANCE SHEET 30 APRIL 2019

                                              2019                 2018

                                          £          £         £         £

FIXED ASSETS

Available-for-sale investments                    608,169             610,046

CURRENT ASSETS

Debtors                                160,748              160,701

Cash at bank                           12,302                76,345

                                       173,050              237,046

CREDITORS

Amounts falling due within one year   (140,151)             (82,742)

NET CURRENT ASSETS                                32,899              154,304

TOTAL ASSETS LESS CURRENT LIABILITIES
                                                  641,068             764,350

CAPITAL AND RESERVES

Called up share capital                           602,659             602,659

Share premium                                     12,663              12,663

A-F-S revaluation reserve                         607,778             609,655

Capital redemption reserve                        288,625             288,625

Equity reserve                                    247,364             225,364

Retained earnings                               (1,118,021)          (974,616)

SHAREHOLDERS' FUNDS                               641,068             764,350

The Company’s audited accounts for the year ended 30 April 2019 contain the following statement by the Company’s auditors:

“Emphasis of matter

We draw your attention to note 3 of the financial statements, which describes the uncertainties regarding the valuation of unquoted investments.  Our opinion is not modified in this respect.”

The Directors do not recommend the payment of a dividend.

The information above has been extracted from BWA’s audited accounts for the year ended 30 April 2019.

The Directors of BWA are responsible for the contents of this announcement.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.