(“Ananda” or the “Company”)
Business Review, Development and Performance
The Company was admitted to trading on the NEX Exchange Growth Market on
Since 2018, the Directors have pursued their primary objective of creating long term value for Shareholders through the acquisition of strategic stakes in companies which the Directors believe have potential for substantial growth. In accordance with this policy, Ananda has, to date, invested by way of a convertible loan note
The regulatory framework surrounding medicinal cannabis has changed rapidly in the
After the period end of
Contemporaneously, the Shareholders approved the raising of £400,000 of new capital. Some of those subscription proceeds will be advanced by the Company to Tiamat to fund the Home Office Licence application process, with the balance being used by Ananda for general working capital purposes.
The Company is very much in its early stages with its investments not yet generating any revenue. The Company has had no revenue for the year, apart from £4,061 of interest, and incurred a loss of £364,268.
Statement of Comprehensive Income
2019 GBP Administrative expenses (368,299) Interest received 4,061 Loss from operations (364,238) Taxation - Total loss for the period (364,238)
Earnings per share Basic and diluted earnings per share (pence) (0.11p)
There was no other comprehensive income in the period.
Statement of Financial Position
2019 GBP Fixed assets Investments 460,000 460,000 Current assets Loan Notes 159,185 Debtors 18,191 Cash at bank and in hand 141,254 318,630 Creditors: amounts falling due within one year. 17,528 Net current assets 301,102 Total assets less current liabilities 761,102 Capital and reserves Share capital 658,333 Share premium 467,007 Retained earnings (364,238) Total equity and liabilities 761,102
The financial statements were approved and authorised for issue by the Board and were signed on its behalf by:
The financial information set out in this announcement does not constitute statutory accounts. This financial information has been extracted from the audited full accounts of the Company for the period from the Company’s incorporation on
The Company does not declare a dividend for the period.
The directors of the Company accept responsibility for the contents of this announcement.
Ananda Developments plc+44 (0)20 7520 9266 CEO firstname.lastname@example.org Melissa SturgessInvestor Relations Jeremy Sturgess-Smith Peterhouse Capital Limited+44 (0)20 7469 0930 Corporate Finance Fungai Ndoro Mark AnwylCorporate Broker Lucy Williams Duncan Vasey Stanford Capital Partners Limited+44 (0)20 3815 8880 Corporate Broker John Howes Patrick Claridge Celicourt CommunicationsMark Antelme Ollie Mills
Notes to editors
Ananda Developments invests in the developing market for medical or therapeutic Cannabis derivatives, or related products, including but not limited to nutraceuticals, dietary supplements and cosmetic products which contain Cannabis or hemp derived cannabinoids. The Directors believe that this market is growing due to an increasing number of states in the
A copy of the Company’s Admission Document is available at www.anandadevelopments.com/wp-content/uploads/2019/03/ANANDA-DEVELOPMENTS-Admission-Document-29.06.2018-FINAL-clean.pdf
Ananda’s investment strategy is to invest in companies, projects or products that are progressing medical or therapeutic Cannabis research and development, or seeking to produce or cultivate Cannabis in any jurisdiction in which it is legal to do so, or are developing or have already developed, products that contain Cannabis derived cannabinoids and require funding to progress work plans or commercialise products.