Igraine Plc - Interim Results for the Half-Year to 30 June 2022 PR Newswire

THE DIRECTORS OF IGRAINE PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 594/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. BY PUBLICATION OF THIS ANNOUNCEMENT, THE INFORMATION SET OUT WITHIN IT IS DEEMED NOW TO BE IN THE PUBLIC DOMAIN.

23 September 2022

Igraine Plc
(“Igraine” or “the Company”)

Interim Results for the Half-Year to 30 June 2022

Igraine plc, Directors Statement,

I am pleased to present the interim results for Igraine plc (AQSE: KING) for the period ending 30 June 2022 which has represented a period that has proved productive, and exciting. The financial statements below have been approved by the Board of Directors and have not been reviewed by the Company’s auditors.

The Company continues to monitor the development of its maiden investment with Excalibur under the Co-Investment Agreement. Results to date have been positive as the Excalibur team progress commercialisation discussions with the preference being that of a trade sale.

Independent of our investment in EML, the Company is acutely aware of the volatility in global financial markets and is actively engaged in commercial discussions with businesses and opportunities that have fundamentally strong offerings, but to date the opportunities have lacked viable access to traditional means of capital investment during these uncertain times.

On behalf of the Board
Steve Winfield
Executive Director

INTERIM INCOME STATEMENT (UNAUDITED)
For the period ended 30 June 2022

Igraine plc
6 mths to 6 mths to
30 June 30 June
2022 2021
£ GBP £ GBP
Revenue 0 0
Cost of Sales 0 0
Gross Profit/(Loss) 0 0
Other Operating Income 0 19,824
Administrative Expenses (128,223)                       (152,785)
Loss before Investment Activities (128,223) (132,962)
(Loss) before Amortisation of Preference Shares (128,223) (132,962)
Profit/(Loss) before Taxation (128,223) (132,962)
Taxation Expense 0 0
Total Comprehensive Income attributable to Equity Holders of the Company (128,223) (132,962)

STATEMENTS OF FINANCIAL POSITION (UNAUDITED)
As at 30 June 2022

Igraine plc
As at As at
30 June 30 June
2021 2022
£ GBP £ GBP
Assets
Non-current assets
Property, plant and equipment 2,089 1,048
Investments 615,113 615,113
617,202 616,161
Current assets
Trade and other receivables 148,302 1,450,284
Cash and cash equivalents 765,723 88,459
914,025 1,538,742
Total assets                  1,531,227                   2,154,903
Equity and liabilities
Equity
Issued share capital 588,785 587,166
Share Premium 1,946,995 166,268
Other reserves 46,116 -
Retained earnings (1,300,926) (811,673)
1,280,970 (58,240)
Non current liabilities
Loans and borrowings 43,788 50,000
Current liabilities
Trade and other payables 206,469 2,163,143
Total liabilities 250,257 2,213,143
Total equity and liabilities               1,531,227               2,154,903

THE DIRECTORS OF THE COMPANY TAKE RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT.

Enquiries

Company:
Steve Winfield (Executive Director)
Simon Grant-Rennick (Non-Executive Director)

AQSE Growth Market Corporate Adviser
Peterhouse Capital Limited
Guy Miller / Mark Anwyl
Tel: +44 (0) 207 469 0930