Globe Capital Limited - Interim Results for six months period to 30 June 2018 PR Newswire

28 September 2018

Globe Capital Limited
("Globe Capital" or the "Company")

Interim Results for the six months period to 30 June 2018

Chairman’s Statement

Globe Capital Limited is pleased to announce its unaudited interim results for the 6 months period to 30 June 2018. Operational costs for the period amounted to £113k compared to £42k for the 6 months to June 2017.

During the period the company raised an additional £500,000 in equity, before costs to enable the commencement of the process of setting up of a new office in Business Bay, Dubai. Together with incorporating a new subsidiary; Vogel Marketing Services FZE in Ajman, United Arab Emirates. The company is continuing with the promotion of companies from the UK and EU within the gulf region.

The company continues to seek medium to long term investments in businesses that exhibit growth potential. The Company continues to intend to be an active investor in situations where the Company can make a clear contribution to the growth and development of the investment.

28th September 2018

David Barnett
Chairman


Globe Capital Limited
Statement of Comprehensive Income
Six months ended 30 June 2018


                                    6 months     6 months  Year ended
                                       ended        ended 31 December
                                30 June 2018 30 June 2017        2017

                                    GBP '000     GBP '000    GBP '000

Revenue                                    -            -           -

Other Income                               -            -           -

Gross Profit                               -            -           -

Administrative Expenses                (113)         (42)        (89)

Profit / (Loss) from Operations        (113)         (42)        (89)

Finance Costs                              -            -           -

Profit / (Loss) Before Taxation        (113)         (42)        (89)

Taxation                                   -            -           -

Other Comprehensive Loss                   -            -           -

Profit / (Loss) for the period         (113)         (42)        (89)

Earning / (Loss) per share

Basic & Diluted (pence)              (0.05)p      (0.02)p     (0.05)p



Globe Capital Limited
Balance Sheet as at 30 June 2018


                                                 30 June  30 June 31 December
                                                    2018     2017        2017

                                                GBP '000 GBP '000    GBP '000

Non-current assets

Property, plant and equipment                         21        -           -

Investments                                           14       14          14

Current assets

Prepayments                                           57        3           7

Cash and cash equivalents                            169        6          58

Other debtors and receivables                        126        -           -

Total Assets                                         387       23          79

Current Liabilities

Trade and other payables                             138       18         175

Accruals                                              44       23           -

Financial Liabilities - Borrowings                     -        -           -

Creditors: falling due after more than one year

Amounts due to directors                              11       23          32

Amounts due to a shareholder                           -       54          14

Total Liabilities                                    193      118         221

Net Assets                                           194     (95)       (142)

Shareholders' Equity

Share Capital                                        645      639         639

Reserves                                           (451)    (734)       (781)

Total Equity                                         194     (95)       (142)



Globe Capital Limited
Statement of Cash Flows
Period ended 30 June 2018


                                       6 months ended 6 months ended  Year ended
                                         30 June 2018   30 June 2017 31 December
                                                                            2017

                                             GBP '000       GBP '000    GBP '000

Profit/(Loss) before tax                        (113)           (42)        (89)

Adjustment:

Other income                                        -              -           -

Depreciation                                        -              -           -

Operating profit/(loss)                         (113)           (42)        (89)

Cash flows from operating activities

(Increase)/decrease in trade and other          (177)              4           -
receivables

Increase/(decrease) in trade and other              7              5       (143)
payables

Amounts due to Directors                         (21)             15          19

Share based payments                                               -           -

Cash utilised in operations                     (304)           (18)        (73)

Cash flows from investing activities

Bank interest received                              -              -           -

Purchase of tangible assets                      (21)              -           -

Net cash from investing activities                                 -           -

Cash flows from financing activities

Issue of new shares                               450              -           -

Amounts due to a shareholder                     (14)             19          21

Net cash from financing activities                                19          21

(Decrease)/increase in cash and cash              111              1          52
equivalents

Cash and cash equivalents at the                   58              5           6
beginning of the period

Cash and cash equivalents at end of               169              6          58
period

Cash at Bank C/F                                  169              6          58



The financial information set out above has not been reviewed or audited by the company's auditors.

Basic and diluted profit per share is calculated by dividing the loss for the period of £113,000 (2017: loss £42,000) by the weighted average number of ordinary shares of 222,586,419 (2017: 189,253,085).

The directors of Globe Capital Limited accept responsibility for this announcement.

For further information

Globe Capital Limited
David Barnett
Chairman
+1-855-280-6793

CORPORATE ADVISER AND CONTACT DETAILS:

Brian Stockbridge 
First Sentinel Corporate Finance 
Suite 12A 
55 Park Lane
Mayfair, London 
W1K 1NA 
Tel +44 (0) 207 183 7405 
E-mail: Brian@first-sentinel.com