Interim Results for the six months ended 30 June 2020 (1095545)
16 7월 2020 - 9:03PM
UK Regulatory
Veni Vidi Vici Limited (VVV)
Interim Results for the six months ended 30 June 2020
16-Jul-2020 / 13:03 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
VENI VIDI VICI LIMITED
("Veni Vidi Vici" or the "Company")
Interim Results for the six months ended 30 June 2020
Veni Vidi Vici announces its unaudited interim results for the six months
ended 30 June 2020.
Overview
The Company completed its first investment, with the signing of the sale and
purchase agreement with Goldfields Consolidated Pty Ltd for a 51 % beneficial
interest in the Shangri La gold, copper and silver project in late 2018.
The Shangri La Project is a gold-copper-silver project comprising a
polymetallic hydrothermal quartz vein type deposit covering an area of 10
hectares. The Shangri La Project is located 10 kilometres west of Kununurra,
the central town of the Northeast Kimberley region in Western Australia.
The Company and Goldfields have also entered into a joint venture agreement
("JVA") under which VVV will be responsible for an initial expenditure fee of
A$300,000 over three years from the commencement of the JVA. Goldfields will
manage the joint venture ("JV") and be entitled to a 10% management fee of
expenses incurred by the JV.
During the period, the Company was advised that limited work was undertaken on
the Shangri la project, mainly desk studies. We anticipate further work to
occur during 2020. In addition, Mr Gordon resigned as a director in June 2020.
The Company continues to monitor covid-19 effects on the Company. We believe
this will have limited affect on any future work anticipated on our West
Australia project as there are very few cases in this state and interruptions
are somewhat less.
FINANCE REVIEW
The loss for the period to 30 June 2020 was GBP133,000 (30 June 2019 - GBP 56,000
and 31 December 2019 - GBP107,000 loss) which mainly related to share based
payments, regulatory costs and other corporate overheads. The total revenue
for the period was nil. At 30 June 2020, Company had cash balances of GBP339,000
(30 June 2019 - GBP 384,000 and 31 December 2019 - GBP354,000).
The interim accounts to 30 June 2020 have not been reviewed by the Company's
auditors.
Donald Strang
Director
16 July 2020
The directors of the Company accept responsibility for the contents of this
announcement.
For further information please contact:
The Company
Donald Strang +44 (0) 78 7958 4153
AQSE Growth Market Corporate Adviser:
Peterhouse Capital Limited +44 (0) 20 7469 0936
Guy Miller/Mark Anwyl
Unaudited Condensed Company Statement of Comprehensive Income
for the six months ended 30 June 2020
******************************************************************************
*********************
6 months to 6 months to Year ended
30 June 30 June 31 December
2020 2019 2019
Unaudited Unaudited Audited
Notes GBP'000 GBP'000 GBP'000
Continuing operations
Revenue
Investment income - - -
Total gains on AFS - - -
investments
Administrative costs (64) (56) (107)
Share based payments (69) - -
Operating (loss) (133) (56) (107)
Finance costs - -
(Loss) before tax (133) (56) (107)
Taxation - -
(Loss) for the period (133) (56) (107)
Other comprehensive
income
Translation exchange - - -
(loss)/gain
Other comprehensive - - -
income for the period
net of taxation
Total Comprehensive (133) (56) (107)
Income for the year
attributable to the
owners of the parent
company
(Loss) per share:
Basic and diluted 2 (7.68) (3.29) (6.25)
(loss) per share
(pence)
Unaudited Condensed Company Statement of Financial Position
as at 30 June 2020
******************************************************************************
30 June 30 June 31 December 2019
2020 2019
Unaudited Unaudited Audited
Notes GBP'000 GBP'000 GBP'000
ASSETS
Non-current assets
Intangible assets 136 136 136
136 136 136
Current assets
Trade and other - 2 18
receivables
Cash and cash 339 384 354
equivalents
339 386 372
Total assets 475 522 508
LIABILITIES
Current liabilities
Trade and other (81) (33) (70)
payables
Total current (81) (33) (70)
liabilities
Total liabilities (81) (33) (70)
Net Assets 394 489 438
EQUITY
Equity attributable
to equity holders of
the parent
Share capital - - -
Share premium account 643 623 623
Share based payment 94 25 25
reserve
Retained earnings (343) (159) (210)
Total equity 394 489 438
Unaudited Condensed Company Statement of Changes in Equity
for the six months ended 30 June 2020
******************************************************************************
******************
Share Share Share Retained Total
based
payment
reserve
capital premium earnings attributable
to owners
of parent
Audited GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 31 December - 628 25 (103) 550
2018
(Loss) for the - - - (107) (107)
period
Total - - - (107) (107)
Comprehensive
Income
Share issue - (5) - - (5)
costs
Total - (5) - - (5)
contributions by
and
distributions to
owners of the
Company
At 31 December - 623 25 (210) 428
2019
Unaudited
At 31 December - 628 25 (103) 550
2018
Loss for the - - - (56) (56)
period
Total - - - (56) (56)
comprehensive
income for the
period
Share Issue - (5) - - (5)
costs
Transactions - (5) - - (5)
with owners of
the company
Balance at 30 - 623 25 (159) 489
June 2019
Unaudited
At 31 December - 623 25 (210) 438
2019
Loss for the - - - (133) (153)
period
Total - - - (133) (153)
comprehensive
income for the
period
Shares issued - 20 - - 40
Share issue - - - - -
costs
Share options - - 69 - 69
issued
Transactions - 20 69 - 109
with owners of
the company
Balance at 30 - 643 94 (343) 394
June 2020
Unaudited Condensed Company Statement of Cash Flows
for the six months ended 30 June 2019
******************************************************************************
***********
6 months 6 months to Year to
to
30 June 30 June 31 December
2019
2020 2019
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Cash flows from operating
activities
Operating (loss) (133) (56) (107)
Adjustments for:
Share based payment charge 69 - -
Decrease/(increase) in 18 4 (12)
trade and other
receivables
(Decrease)/increase in 11 (9) 28
trade and other payables
Net cash used in operating (35) (61) (91)
activities
Investing activities
Finance Costs - - -
Investment in intangible - - -
assets
Net cash outflow in - - -
investing activities
Financing activities
Issue of share capital 20 - -
Issue costs - (5) (5)
Net cash from financing 20 (5) (5)
activities
Net change in cash and (15) (66) (96)
cash equivalents
Cash and cash equivalents 354 450 450
at beginning of period
Cash and cash equivalents 339 384 354
at end of period
Notes to the condensed interim financial statements
****************************************************
1. General Information
Basis of preparation and accounting
The financial information has been prepared on the historical cost basis. The
Company's business activities, together with the factors likely to affect its
future development, performance and position are set out in the Chairman's
Statement. This statement also includes a summary of the Company's financial
position and its cash flows.
These condensed interim financial statements have been prepared in accordance
with International Financial Reporting Standards (IFRS) as adopted by the
European Union with the exception of International Accounting Standard ('IAS')
34 - Interim Financial Reporting. Accordingly the interim financial statements
do not include all of the information or disclosures required in the annual
financial statements and should be read in conjunction with the Company's 2019
annual financial statements.
2. Earnings per share
The calculation of the basic earnings per share is based on the earnings
attributable to ordinary shareholders divided by the weighted average number
of shares in issue during the year. The calculation of diluted earnings per
share is based on the basic earnings per share, adjusted to allow for the
issue of shares and the post-tax effect of dividends and/or interest, on the
assumed conversion of all dilutive options and other dilutive potential
ordinary shares.
Reconciliations of the earnings and weighted average number of shares used are
set out below.
Six months to Six months to Year ended
30 June 30 June 31 December
2020 2019 2019
(Unaudited) (Unaudited) (Audited)
(GBP'000) (GBP'000) (GBP'000)
Net loss attributable (133) (56) (107)
to equity holders of
the company
Number of shares 1,725,498 1,720,003 1,720,003
Weighted average
number of ordinary
Shares for the
purposes of basic loss
per share
Basic and diluted loss (7.68) (3.29) (6.25)
per share (pence)
3. Events after the reporting date
There are no events after the end of the reporting date to disclose.
ISIN: VGG9404A1030
Category Code: MSCM
TIDM: VVV
LEI Code: 213800OEUSH43X859D83
Sequence No.: 76254
EQS News ID: 1095545
End of Announcement EQS News Service
(END) Dow Jones Newswires
July 16, 2020 08:03 ET (12:03 GMT)
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