TIDMCODX
RNS Number : 1613O
Codex Acquisitions PLC
29 September 2023
29 September 2023
Codex Acquisitions plc
("Codex" or the " Company ")
Unaudited Half-Year Results for the Six Months Ended 30 June
2023
Codex Acquisitions plc (LON:CODX) announces its unaudited
interim results for the six months to 30 June 2023.
- Ends -
For further information please contact:
Codex Acquisitions plc Julio Perez
info@codexplc.com
+44 (0)20 8682 0582
About Codex Acquisitions plc
Codex Acquisitions plc is a special purpose acquisition company
(SPAC) seeking suitable acquisition targets in the clean and
renewable energy sector.
Codex Acquisitions plc is actively seeking to partner with
sector-leading companies in the renewable energy sector, and
believes that renewable energy investments is an asset class where
it is possible to achieve attractive long-term investment yield
whilst making a major contribution to lower global carbon
emissions.
Codex Acquisitions plc is seeking to deliver not only financial
performance, but a positive contribution to society, benefitting
all stakeholders and fostering long-term sustainable growth.
Environmental Social and Governance (ESG) considerations are
important factors that will guide the Company when selecting
possible investment opportunities.
The Company is supported by its financial adviser, Codex Capital
Partners Limited.
For further information on the Company, please visit
www.codexplc.com , with the Company's Prospectus to be found at
http://www.codexplc.com/investors-2 .
Forward-looking statements
Certain statements in this announcement constitute
"forward-looking statements". Forward-looking statements include
statements concerning the plans, objectives, goals, strategies and
future operations and performance of the Company and the
assumptions underlying these forward-looking statements. The
Company uses the words "anticipates", "estimates", "expects",
"believes", "intends", "plans", "may", "will", "should", and any
similar expressions to identify forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the
Company's actual results, performances or achievements to be
materially different from any future results, performances or
achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous
assumptions regarding present and future business strategies and
the environment in which the Company will operate in the future.
These forward-looking statements speak only as at the date of this
announcement. The Company is not obliged, and does not intend, to
update or to revise any forward-looking statements, whether as a
result of new information, future events or otherwise except to the
extent required by any applicable law or regulation. All subsequent
written or oral forward-looking statements attributable to the
Company, or persons acting on behalf of the Company, are expressly
qualified in their entirety by the cautionary statements contained
throughout this announcement. As a result of these risks,
uncertainties and assumptions, a prospective investor should not
place undue reliance on these forward-looking statements.
CHAIRMAN'S STATEMENT
I am pleased to announce the Company's interim results for the
period ended 30 June 2023.
Financial review
The Company incurred a loss of GBP29,000 in the period
(GBP206,000 for the period 11 October 2021 to 30 June 2022). The
majority of this comprises the expenditure relating to maintaining
the Company's listing on the standard segment of the Official List
of the Financial Conduct Authority (a "Standard Listing") and to
trading on the main market for listed securities of London Stock
Exchange plc ("Main Market").
The Company had a cash position of GBP604,000 as at 30 June 2023
(GBP654,000 at 30 June 2022). The Company had a basic loss per
share of 0.003p.
Outlook
The Company's near-term goal remains focused on evaluating
opportunities to acquire and to ultimately undertake one or more
acquisitions in the clean and renewable energy sector.
On behalf of the board of directors of the Company (the "Board"
or "Directors"), I would like to take this opportunity to thank our
staff and advisers for their hard work as well as our shareholders
for their continued support.
We look forward to updating shareholders on our progress in due
course.
James Lawson-Brown
Chairman
STATEMENT OF DIRECTORS' RESPONSIBILITIES IN RESPECT OF THE
CONDENSED INTERIM REPORT AND CONDENSED FINANCIAL STATEMENTS
The Directors, being James Lawson-Brown, Julio Perez and Kate
Osborne (all statutory non-executive), confirm that the condensed
interim financial information has been prepared in accordance with
International Accounting Standard 34, 'Interim Financial
Reporting', as adopted by the UK and that the Interim Report
includes a fair review of the information required by DTR 4.2.7R
and DTR 4.2.8R, namely: an indication of important events that have
occurred during the period and their impact on the condensed
interim financial information, and a description of the principal
risks and uncertainties for the remaining six months of the
financial year; and material related-party transactions in the
period.
By order of the Board
Julio Perez
Director
STATEMENT OF COMPREHENSIVE INCOME
6 months 11 October
ended 30 June 2021 to 30
June
Notes 2023 2022
(Unaudited) (Unaudited)
GBP GBP
Administrative expenses 5 (29,352) (206,444)
---------------------------------- ------ --------------- ------------
Finance costs - -
Loss before taxation (29,352) (206,444)
Income tax expense - -
Loss for the period attributable
to equity holders of the parent
company (29,352) (206,444)
---------------------------------- ------ --------------- ------------
Total comprehensive loss for
the period (29,352) (206,444)
Earnings per share
Earnings per share attributable
to the equity holders (pence) (0.003) (0.2)
STATEMENT OF FINANCIAL
POSITION
At 30 At 30
June June
2023 2022
(Unaudited) (Unaudited)
Notes GBP GBP
----------------------------------- ------ ------------ ------------
Assets
Current assets
Cash and cash equivalents 604,751 653,586
----------------------------------- ------ ------------ ------------
Total current assets 604,751 653,586
----------------------------------- ------ ------------ ------------
Total assets 604,751 653,586
----------------------------------- ------ ------------ ------------
Liabilities
Current liabilities
Trade and other payables 51,540 10,030
----------------------------------- ------ ------------ ------------
Total current liabilities 51,540 10,030
----------------------------------- ------ ------------ ------------
Total liabilities 51,540 10,030
----------------------------------- ------ ------------ ------------
Capital and reserves attributable
to shareholders
Share capital 4 850,000 850,000
Accumulated losses (296,789) (206,444)
----------------------------------- ------ ------------ ------------
Total capital and reserves 553,211 643,556
----------------------------------- ------ ------------ ------------
Total equity and liabilities 553,211 653,586
----------------------------------- ------ ------------ ------------
The statement of changes in equity of the Company for the period
ended 30 June 2023 is stated below:
STATEMENT OF CHANGES IN EQUITY
Share capital Accumulated
losses Total
GBP GBP GBP
-------------------------------- -------------- ------------ ----------
At 01 January 2022 (unaudited) 50,000 (30,250) 19,685
Loss for the period - (176,193) (176,193)
-------------------------------- -------------- ------------ ----------
Total comprehensive loss for
the period - (176,193) (176,193)
Issue of shares 800,000 - 800,000
-------------------------------- -------------- ------------ ----------
At 30 June 2022 (unaudited) 850,000 (206,444) 643,556
-------------------------------- -------------- ------------ ----------
At 01 January 2023 (unaudited) 850,000 (267,437) 643,556
Loss for the period - (29,352) (29,352)
-------------------------------- -------------- ------------ ----------
Total comprehensive loss for
the period - (29,352) (29,352)
Issue of shares - - -
-------------------------------- -------------- ------------ ----------
At 30 June 2023 (unaudited) 850,000 (296,789) 553,211
-------------------------------- -------------- ------------ ----------
For the period ended to 30 June 2023
STATEMENT OF CASH FLOWS
Period Period
ended 30 ended 30
June June
Notes 2023 2022
GBP GBP
Cash flow from operating activities
Loss for the period (29,352) (206,444)
Adjustments for:
Decrease in trade and other receivables - -
Increase in trade and other payables 7,142 10,030
Share based payments - -
Net cash outflow from operating
activities (22,210) (196,414)
Cash flow from financing activities
Proceeds on the issue of shares - 800,000
Net cash inflow from financing
activities - 800,000
Net Increase in cash and cash
equivalents (22,210) 603,586
Cash and cash equivalents at the
beginning of the period 626,961 50,000
Cash and cash equivalents at the
end of the period 604,751 653,586
-------------------------------------------------- ---------- ----------
NOTES TO THE COMPANY FINANCIAL INFORMATION
1. General information and basis of preparation
The principal activity of the Company is to identify potential
companies, businesses or asset(s) in the clean and renewable energy
sector that will increase shareholder value. The Company is
domiciled in the United Kingdom and incorporated and registered in
England and Wales as a public limited company. The Company's
registered office is 9(th) Floor, 107 Cheapside, London EC2V 6DN,
United Kingdom. The Company's registered number is 13672588.
2. Accounting policies
Basis of preparation
The Financial Statements of the Company have been prepared in
accordance with UK-adopted international accounting standards. The
Financial Statements have been prepared under the historical cost
convention unless otherwise stated. The Financial Statements are
prepared in pounds Sterling and presented to the nearest pound.
The preparation of the Company financial statements in
conformity with UK-adopted international accounting standards
requires the use of certain critical accounting estimates. It also
requires the Directors to exercise their judgment in the process of
applying the Company's accounting policies.
In the opinion of the management, the interim unaudited
financial information includes all adjustments considered necessary
for fair and consistent presentation of this financial
information.
Going concern
The Company financial statements have been prepared on a going
concern basis as the Directors have assessed the Company's ability
to continue in operational existence for the foreseeable future.
The operations are currently being financed by issuances of new
equity. The Company is reliant on the continuing support from its
shareholders and the expected support of future shareholders. The
Company financial statements do not include the adjustments that
would result if the Company were not to continue as a going
concern.
2. Segmental analysis
In the opinion of the Directors, the Company is primarily
organised into a single operating segment. This is consistent with
the Company's internal reporting to the chief operating decision
maker. Separate segmental disclosures have therefore not been
included.
3. Loss per share
Basic loss per share is based on the net loss for the period of
GBP29,352 attributable to equity holders related to the weighted
average number of ordinary shares in issue during the period of
8,500,000.
The following reflects the loss and share data used in the basic
loss per share computations:
For six months
ended
30 June 2023
Unaudited
Loss after tax (GBP) (29,352)
Number of ordinary shares of
GBP0.10 in issue 8,500,000
Loss per share - basic (pence) (0.003)
4. Share capital
Issued equity share capital
For six months
ended
30 June 2023
Unaudited
Number GBP
Issued and fully paid
Ordinary shares of GBP0.10 each 8,500,000 850,000
The Company was incorporated on 11 October 2021, on which date
the issued share capital was
GBP50,000 divided into 500,000 shares of nominal value GBP0.10
each.
Conditional on admission to a Standard Listing and to trading on
the Main Market of the Company's entire share capital on 9 March
2022, the Company issued 8,000,000 Ordinary Shares at a price of
10p each to raise gross cash subscription receipts of
GBP800,000.
5. Administrative expenses
For the
period ended
30 June
2023
Unaudited
GBP
------------------------------------ ------------------------
This is stated after charging:
Auditor's remuneration
-audit of the Company 5,000
-non-audit services -
Directors' remuneration -
Legal, professional and consultancy
fees 24,352
Other expenses -
-------------------------------------- ------------------------
6. Post balance sheet events
There were no significant events subsequent to the balance sheet
date.
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END
IR FIFITAIIAFIV
(END) Dow Jones Newswires
September 29, 2023 04:05 ET (08:05 GMT)
Codex Acquisitions (LSE:CODX)
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