Hot Rocks Investments plc: FINAL RESULTS TO 31 MARCH 2019 AND NOTICE OF AGM DGAP

Hot Rocks Investments plc (HRIP)
Hot Rocks Investments plc: FINAL RESULTS TO 31 MARCH 2019 AND NOTICE OF AGM

05-Sep-2019 / 12:48 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


HOT ROCKS INVESTMENTS PLC

(the "Company")

 

AUDITED FINAL RESULTS TO 31 MARCH 2019 AND NOTICE OF AGM

 

CHAIRMAN'S STATEMENT

 

I hereby present the financial results for the Company for the year ended 31 March 2019.  The Company is an active investor primarily in junior natural resources companies. 

 

The Company made a pre-tax loss of £35,376 for the year, compared to a pre-tax loss of £219,298 in the prior year. The Company will not be paying a dividend at this stage (2018: £Nil).

 

Cash and cash equivalents as at the year end of 31 March 2019 were £46,745 (2018: £16,710).

 

It has been quite a difficult period for small cap exploration companies and we have seen some significant fluctuations in the valuations of our investments during the period, both up and down.

 

We are generally pleased with performance and are working on a number of new projects to continue to add value to the portfolio.

 

We currently hold stakes in the following entities:

 

  • Bermele plc (LSE:BERM)
  • Bidstack Group plc (AIM:BIDS)
  • Block Energy plc (AIM: BLOE)
  • Brazil Tungsten Holdings Limited
  • Copper Bay plc
  • Elephant Oil Limited
  • Impact Oil & Gas Limited
  • Mafula Energy Limited
  • MedGold Resources Corp (TSXV:MED)
  • Minergy Limited
  • New Horizon Oil & Gas Limited (trading as T5)
  • Predator Oil & Gas Holdings plc (LSE:PRD)
  • Rift Resources Limited
  • Royal Road Minerals Limited (previously Tigris Resources) (TSXV:RYR)
  • TAG Oil (TSX:TAO)

The Board of Directors will continue to introduce further equity positions to the Company to enable additional diversification of the portfolio. It is anticipated that these will continue to be primarily within the natural resources sector.

 

Notice of AGM

Notice is hereby given that the AGM of the Company will be held at the offices of Shakespeare Martineau at 60 Gracechurch Street, London, EC3V 0HR on 30 September 2019 at 11.30am. The notice of AGM will shortly be available on the Company's website, together with the audited report and accounts.

 

Brian Rowbotham

Non-Executive Chairman

 

The Directors of the issuer are responsible for the content of this announcement.

For further information please contact:

Hot Rocks Investments plc

Gavin Burnell: 0207 264 4444

 

Peterhouse Capital Limited

Guy Miller: 020 7220 9796
HOT ROCKS INVESTMENTS PLC                                STATEMENT OF COMPREHENSIVE INCOME

 YEAR ENDED 31 MARCH 2019

 

 

 

Note

2019

2018

Continuing Operations

 

£

£

 

 

 

 

Revenue

 

-

-

 

 

 

 

Foreign exchange gain/(loss) on financial assets at fair value through profit and loss

 

20,897

(20,656)

Operating expenses

 

(50,060)

(48,369)

Share based payments expense

 

-

(115,600)

Movement in fair value of financial assets through profit and loss

 

(31,796)

(52,604)

Other gains - sale of financial assets at fair value through profit and loss

 

35,572

17,922

Impairment

 

(10,000)

-

 

 

_______

_______

 

 

 

 

Operating Loss

 

(35,387)

(219,307)

 

Finance income

 

 

11

 

9

 

 

_______

_______

 

 

 

 

Loss before Income Tax

 

(35,376)

(219,298)

 

 

 

 

Income tax expense

 

-

-

 

 

_______

_______

 

 

 

 

Loss for the Year attributable to equity holders

 

(35,376)

(219,298)

 

 

_______

_______

 

 

 

 

Other Comprehensive Income

 

 

 

 

 

 

 

Items that may be Reclassified Subsequently to

 Profit or Loss

 

 

 

 

 

 

 

Fair value change in value on available-for-sale financial assets

 

-

78,469

 

 

_______

_______

 

 

 

 

Total Comprehensive (loss) for the Year attributable to equity holders

 

(35,376)

(140,829)

 

 

_______

_______

 

 

 

 

Earnings Per Share - Basic and Diluted (expressed in pence per share)

 

(0.0)

(0.1)

 

 

_______

_______

 

 

 

 

 

 

 

 

 

 

 


HOT ROCKS INVESTMENTS PLC STATEMENT OF FINANCIAL POSITION

REGISTERED NUMBER 06163193 AT 31 MARCH 2019

 

 

 

Note

As at

31 March

2019

As at

31 March

2018

 

 

£

£

Assets

 

 

 

 

 

 

 

Non-Current Assets

 

 

 

 

 

 

 

Financial assets at fair value through profit and loss

 

421,521

811,206

 

 

_______

_______

 

 

 

 

 

 

421,521

811,206

 

 

_______

_______

 

 

 

 

Current Assets

 

 

 

 

 

 

 

Financial assets at fair value through profit and loss

 

348,714

-

Cash and cash equivalents

 

46,745

16,710

 

 

_______

_______

 

 

395,459

16,710

 

 

 

 

Total Assets

 

816,980

827,916

 

 

_______

_______

 

 

 

 

Equity and Liabilities

 

 

 

 

 

 

 

 

 

 

 

Equity Attributable to Shareholders

 

 

 

 

 

 

 

Ordinary shares

 

173,602

173,602

Share premium account

 

1,174,631

1,174,631

Share options and warrants reserve

 

115,600

115,600

Other reserves

 

-

144,678

Retained loss

 

(776,871)

(886,173)

 

 

_______

_______

 

 

 

 

 

 

686,962

722,338

 

 

 

 

Current Liabilities

 

 

 

 

 

 

 

Trade and other payables

 

130,018

105,578

 

 

_______

_______

 

 

 

 

Total Equity and Liabilities

 

816,980

827,916

 

 

_______

_______

 

 


HOT ROCKS INVESTMENTS PLC STATEMENT OF CHANGES IN EQUITY

 YEAR ENDED 31 MARCH 2019

 

 

 

 

Attributable to Equity Shareholders

 

 

 Ordinary
 shares

 £

 Share  premium

 £

 Share options and warrants reserve

 £

 Other  reserves

 £

 Retained  loss

 £

 Total

 £

 

 

 

 

 

 

 

 

Balance as at 1 April 2017

 

173,602

______

1,174,631

________

-

______

66,209

_______

(666,875)

 _______

747,567

________

Loss for the year

 

-

-

-

-

(219,298)

(219,298)

 

 

 

 

 

 

 

 

 

 

 

 

Total Comprehensive Income

-

-

-

-

(219,298)

(219,298)

 

 

______

______

______

_______

_______

_______

 

 

 

 

 

 

 

 

Fair value change on available for sale financial assets

 

-

-

-

78,469

-

78,469

Warrants issued in the year

 

-

 

______

-

 

______

115,600

 

______

-

 

_______

-

 

_______

115,600

 

_______

Total Transactions with Owners

 

-

-

115,600

78,469

-

194,069

 

 

 ______

______

 ______

  _______

 _______

________

 

 

 

 

 

 

 

 

Balance as at 31 March 2018 and 1 April 2018

 

173,602

______

1,174,631

________

115,600

______

144,678

_______

(886,173)

 _______

722,338

________

 

 

 

 

 

 

 

 

Reclassification on implementation of IFRS 9

 

-

-

-

(144,678)

144,678

-

 

 

 

 

 

 

 

 

Loss for the year

 

-

-

-

-

(35,376)

(35,376)

 

 

______

______

______

_______

_______

_______

 

Total Comprehensive Income

-

-

-

-

-

-

 

 

______

______

______

_______

_______

_______

Total Transactions with

 

 

 

 

 

 

 

 Owners

 

-

-

-

-

-

-

 

 

 ______

______

 ______

  _______

 _______

________

Recycling of share options

 

-

-

-

-

-

-

 

 

 

 

 

 

 

 

Balance as at 31 March 2019

 

173,602

______

1,174,631

________

115,600

______

-

_______

(776,871)

 _______

686,962

________

 

 

 

 

 

 

 

 

 

 

 

 

HOT ROCKS INVESTMENTS PLC STATEMENT OF CASH FLOWS

 YEAR ENDED 31 MARCH 2019

 

 

 

 

2019

2018

 

 

£

£

 

 

 

 

Cash Flows from Operating Activities

 

 

 

(Loss) before income tax

 

(35,376)

(219,298)

Finance income

 

(11)

(9)

Unrealised foreign exchange loss/(gain)

 

(20,897)

20,656

Impairment

 

10,000

-

Share based payments

 

-

115,600

Gain on disposal of financial assets through profit and loss

 

(35,572)

(17,922)

Movement in fair value of financial assets through profit and loss

 

31,796

52,604

Decrease in other receivables

 

-

720

(Decrease)/Increase in trade and other payables

 

24,337

4,082

 

 

_______

_______

 

 

 

 

Cash Used in Operations

 

(25,723)

(43,567)

Interest paid

 

-

-

Income tax paid

 

-

-

 

 

_______

_______

 

 

 

 

Net Cash Used in Operations

 

(25,723)

(43,567)

 

 

_______

_______

 

 

 

 

Cash Flows from Investing Activities

 

 

 

Purchases of financial assets through profit and loss

 

(62,340)

(5,869)

Proceeds from disposal of financial assets through profit and loss

 

118,098

53,930

 

 

_______

_______

 

 

 

 

Net Cash Generated from Investing Activities

 

55,758

_______

48,061

_______

 

 

 

 

 

 

 

 

Increase/(decrease) in Cash and Cash Equivalents

 

30,035

4,494

 

 

 

 

Cash and cash equivalents at the beginning of the year

 

16,710

12,216

 

 

_______

_______

 

 

 

 

Cash and Cash Equivalents at the End of the Year

 

46,745

16,710

 

 

_______

_______

 

 

 

 

 

 

 

 

 



ISIN: GB00B1WV3198
Category Code: MSCH
LSE Ticker: HRIP
Sequence No.: 19119
EQS News ID: 869175

 
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