Early Equity Plc - Interim Results PR Newswire

9th April 2018

EARLY EQUITY PLC

("Early Equity" or the "Company")

Interim Results

Executive Director’s Statement

I am pleased to present the unaudited interim results for the Company for the  six month period ended 28th February 2018.

Results and Review of Business

The loss for the period was GBP109,865 (2017: GBP66,791) representing a loss per share of 0.01p (2017: 0.01p). Although the accounts show a loss for the period, the Company raised a total of £705,000 cash in the period and significantly increased the balance sheet.

The value of our investment portfolio increased to GBP 1,013,769 (2017: GBP 594,436) due to further investments. Following our announcement on the 14th August 2017 (pre-review period) in which we announced the acquisition of a 4% stake in Early Infinity holdings Sdn Bhd (‘EI Holdings’), on the 8th November 2017 the Company announced additional investment in Yicom Global Sdn Bhd (‘Yicom’), where we acquired an additional 15% by way of share swap, raising our total stake to 47.14%.

On the 15th December 2017 we announced investments of £60,000 in Truspine Technologies Limited and £35,000 in Farina Investments Limited by way of subsrciption.

Post Balance Sheet Events

There have been no material events, transactions or developments within the post balance sheet period.

Outlook

The Company is pleased to report that Yicom has continued to increase its network and sales volumes. The growth is represented by increased sales in Malaysia and also by EI Holdings expanding their global network of sales agents. EI Holdings are now operational in Malaysia, Singapore, Taiwan, Indonesia, Thailand and Japan.

The Company continues to seek further acquisitions that meet its investment criteria and intend to raise additional monies in the future to fund suitable investment opportunities.

The Company's investment strategy is to invest in early stage, small to medium high-growth enterprises around the world. The Directors will continue to evaluate suitable investments opportunities.

On behalf of the Board, I would like to take this opportunity to thank shareholders and professional advisers for their continued support of the Company.

Chua Siew Lian

Executive Director

CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR SIX MONTHS TO 28 FEBRUARY 2018


                                                 6 months to      6 months to
                                               28 February 2018 29 February 2017

CONTINUING OPERATIONS                                GBP              GBP

TURNOVER/DIVIDEND INCOME                            16,014             -

OTHER INCOME                                          -                -

ADMINISTRATIVE EXPENSES                            (88,348)         (49,820)

OTHER OPERATING EXPENSES                           (34,342)         (16,331)

FINANCE COSTS                                      (3,189)           (640)

(LOSS) BEFORE TAX                                 (109,865)         (66,791)

INCOME TAX                                                             -

(LOSS) FOR THE YEAR / PERIOD                      (109,865)         (66,791)

OTHER COMPREHENSIVE INCOME / (LOSS)

Loss on fair value changes of                         -                -
available-for-sale financial assets

Reclassification of fair value gain on                -                -
disposal
of available-for-sale financial assets

OTHER COMPREHENSIVE INCOME / (LOSS) FOR THE           -                -
YEAR / PERIOD

TOTAL COMPREHENSIVE LOSS FOR THE YEAR / PERIOD    (109,865)         (66,791)

BASIC AND DILUTED LOSS PER SHARE                   (0.01)p          (0.01)p

                                                 6 months to      6 months to
CONSOLIDATED STATEMENT OF FINANCIAL POSITION   28 February 2018 29 February 2017
AS AT 28 FEBRUARY 2017

                                                     GBP              GBP

INVESTMENTS

Available-for-sale financial assets               1,013,769         594,436

CURRENT ASSETS

Trade and other receivables                         6,127            6,086

Cash and cash equivalents                          428,837           46,927

Other Recievables                                   98,361             -

                                                   533,325           53,013

CURRENT LIABILITIES

Trade and other payables                             100            (8,450)

Accrued Expenses                                    5,250

                                                   (5,350)          (8,450)

NET CURRENT ASSETS / (LIABILITIES)                 527,975           44,563

NET ASSETS                                        1,541,744         638,999

REPRESSENTING:-

Share capital                                      972,123          809,623

Share premium                                     1,496,090         683,590

                                                  2,468,213        1,493,213

Fair value reserve                                 133,364           49,031

Accumulated losses                               (1,059,833)       (903,245)

SHAREHOLDERS FUNDS                                1,541,744         638,999



The interim financial information for the six months ended 28 February 2018 is neither audited nor reviewed, but has been prepared in accordance with the accounting policies set out in the Company's annual report and accounts for the year ended 31 August 2017.

The Directors of the Company accept responsibility for the announcement.

--ENDS-

Enquiries:

Early Equity Plc

Greg Collier

Tel: +44 (0)78 3018 2501

NEX EXCHANGE CORPORATE ADVISER:

Alexander David Securities Limited

David Scott –Corporate Finance

James Dewhurst – Institutional Sales 

Telephone: +44 (0) 20 7448 9820

http://www.ad-securities.com

49 Queen Victoria Street, London EC4N 4SA