Pharma C Investments - Annual Financial Report
Announcement provided by
Meme Vault Plc · MEME30/06/2022 14:23

30 June 2022
Pharma C Investments Plc
("Pharma C" or the "Company")
Audited Annual Results for the year ended 31 December 2021
Pharma C Investments Plc is pleased to report its audited annual results for the twelve months ended 31 December 2021.
Pharma C Investments Plc Chairman's Statement
Dear Shareholder,
I am pleased to provide my first Chairman's statement since the Company was admitted to the Access Segment of the Aquis Stock Exchange's ("AQSE") Growth Market on 26 May 2021 following a placing of
The Company's investment strategy is to identify investment opportunities in companies that provide ancillary products and services which serve the global Medicinal Cannabis sector, (with a particular focus on the
Performance
In Nov 2021, the company invested
Product Earth is held every August at the National Agricultural Exhibition Arena (NAEC) near
Post Balance Sheet Events
In April 2022, the company invested
Celadon Pharmaceuticals grows indoor hydroponic premium medical cannabis flower for the
On 30 June 2022, Pharma C announced that it had raised
Outlook
Pharma C's Directors are pleased with the operational progress made by the first two investments in the portfolio and continue to assess the market for further investment opportunities.
The Directors strongly believe that the market sector which the Company is focused upon investing in is going through a very exciting, transitional period. At the same time, they also believe that the Company is well placed to deploy funds in line with the Company's stated aims and that the investments in Product Earth and Celadon demonstrate the exciting opportunities available for investment.
I would like to take this opportunity to thank shareholders for their support as we work toward creating value in the years ahead. The Board views the future with much optimism: the long-term drivers in the medical cannabis industry remain extremely positive. We are excited to be involved in the start of a new industry which can positively impact the lives of so many people and will continue to keep shareholders abreast of our progress in the months ahead.
Sharon Segal
Chair of Pharma C Investments Plc
The Directors of Pharma C Investments plc take responsibility for this announcement.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
For further information please visit the Company's website at www.pharmacinvestments.com or contact the following:
Gavin Sathianathan, Investment Strategy Director, Pharma C Investments
gavin@pharmacinvestments.com
David Coffman / Lucy Bowden
Novum Securities
(AQSE Corporate Adviser)
Tel: +44 207 399 9400
Statement of comprehensive income for the year ended to 31 December 2021
_________________________________________________________________________________
|
|
Year ended |
Year ended |
|
|
31 December |
31 December |
|
|
2021 |
2020 |
|
Note |
£'000 |
£'000 |
|
|
|
|
|
|
|
|
Unrealised gain/(loss) on financial investments |
|
- |
- |
Realised gain/(loss) on financial investments |
|
- |
- |
Impairment gain/loss on financial investments |
|
- |
- |
|
|
|
|
Administration expenses |
5 |
517 |
92 |
|
|
|
|
Operating profit(loss) |
5 |
(517) |
(92) |
|
|
|
|
Other Income |
|
- |
|
|
|
|
|
Profit/(Loss) before taxation |
|
(517) |
(92) |
|
|
|
|
Taxation |
7 |
- |
- |
|
|
|
|
|
|
|
|
Profit/(Loss) for the period |
|
(517) |
(92) |
|
|
|
|
Other comprehensive income |
|
|
|
|
|
- |
- |
Other comprehensive income for the period net of taxation |
|
- |
- |
|
|
|
|
Total comprehensive income for the year |
|
(517) |
(92) |
|
|
|
|
Earnings per share |
|
|
|
Basic (pence) |
8 |
(0.24)- |
(0.09)- |
Diluted (pence) |
8 |
(0.24)- |
(0.09) |
|
|
|
|
Statement of financial position at 31 December 2021
_________________________________________________________________________________
|
|
31 December |
31 December |
|
|
2021 |
2020 |
|
Note |
£'000 |
£'000 |
Current assets |
|
|
|
Financial Investments |
13 |
275 |
- |
Trade and other receivables |
10 |
20 |
7 |
Cash and cash equivalents |
|
247 |
8 |
|
|
542 |
15 |
|
|
|
|
Total assets |
|
542 |
15 |
|
|
|
|
Current liabilities |
|
|
|
Trade and other payables |
11 |
(71) |
(37) |
|
|
(71) |
(37) |
|
|
|
|
Net current assets |
|
471 |
(22) |
|
|
|
|
Net assets |
|
471 |
(22) |
|
|
|
|
|
|
|
|
Equity |
|
|
|
Share Capital |
12 |
674 |
247 |
Share premium account |
|
583 |
- |
Retained earnings |
|
(786) |
(269) |
|
|
471 |
(22) |
The financial statements of Pharma C Investments plc (registered number 11540119) were approved by the Board of Directors and authorised for issue on 30 June 2022 and were signed on its behalf by:
Sharon Segal
Chair
Statement of changes in equity for the year ended to 31 December 2021
________________________________________________________________________________
|
Share Capital
|
Share Premium
|
Share based payment reserve |
Retained earnings |
Total |
|
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
At 31 December 2019 |
247 |
- |
- |
(177) |
70 |
|
|
|
|
|
|
(Loss) for the period |
- |
- |
- |
(92) |
(92) |
Other comprehensive income |
- |
- |
- |
- |
- |
Total Comprehensive Income |
- |
- |
- |
(92) |
(92) |
Transactions with owners: |
|
|
|
|
|
Shares issued |
- |
- |
- |
- |
- |
Share issue costs |
- |
- |
- |
- |
- |
Total transactions with owners |
- |
- |
- |
- |
- |
|
|
|
|
|
|
At 31 December 2020 |
247 |
- |
- |
(269) |
(22) |
|
|
|
|
|
|
Loss for the period |
|
|
|
(517) |
(517) |
Other comprehensive income |
- |
- |
- |
- |
- |
Total Comprehensive Income |
|
|
|
(517) |
(517) |
Transactions with owners: |
|
|
|
|
|
Shares issued |
427 |
643 |
- |
- |
1,070 |
Share issue costs |
- |
(60) |
- |
- |
(60) |
Total transactions with owners |
427 |
583 |
- |
- |
1,010 |
|
|
|
|
|
|
At 31 December 2021 |
674 |
583 |
- |
(786) |
471 |
Statement of cash flows for the year ended 31 December 2021
_________________________________________________________________________________
|
|
Year ended |
Year ended |
|
|
31 December |
31 December |
|
|
2021 |
2020 |
|
|
£'000 |
£'000 |
Cash flows from operating activities |
|
|
|
(loss) before tax Share based payments |
|
(517) |
(92) 50 |
Decrease/(Increase) in trade and other receivables |
|
(13) |
(1) |
(Decrease)/Increase in trade and other payables |
|
34 |
7 |
|
|
|
|
Net cash outflow in operating activities |
|
(496) |
(36) |
|
|
|
|
|
|
|
|
Investing activities |
|
|
|
Receipts on sale of investments |
|
- |
- |
Payments on purchase of investments |
|
(275) |
- |
|
|
|
|
Net cash inflow/(outflow) in investing activities |
|
(275) |
- |
|
|
|
|
|
|
|
|
Financing activities |
|
|
|
Issue of share capital |
|
1,070 |
- |
Issue costs |
|
(60) |
- |
|
|
|
|
Net cash (outflow)/inflow from financing activities |
|
1,010 |
- |
|
|
|
|
Net (decrease)/increase in cash and cash equivalents |
|
239 |
(36) |
|
|
|
|
Cash and cash equivalents at beginning of period |
|
8 |
44 |
|
|
|
|
Cash and cash equivalents at end of period |
|
247 |
8 |
This financial information has been extracted from the audited financial statements of the Company for the year ended 31 December 2021. The financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS).
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