Igraine Plc - Interim Results for the Half-Year to 30 June 2022
Announcement provided by
Igraine plc · KING23/09/2022 07:00
THE DIRECTORS OF IGRAINE PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 594/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. BY PUBLICATION OF THIS ANNOUNCEMENT, THE INFORMATION SET OUT WITHIN IT IS DEEMED NOW TO BE IN THE PUBLIC DOMAIN.
23 September 2022
Igraine Plc
(“Igraine” or “the Company”)
Interim Results for the Half-Year to 30 June 2022
Igraine plc, Directors Statement,
I am pleased to present the interim results for Igraine plc (AQSE: KING) for the period ending 30 June 2022 which has represented a period that has proved productive, and exciting. The financial statements below have been approved by the Board of Directors and have not been reviewed by the Company’s auditors.
The Company continues to monitor the development of its maiden investment with Excalibur under the Co-Investment Agreement. Results to date have been positive as the Excalibur team progress commercialisation discussions with the preference being that of a trade sale.
Independent of our investment in EML, the Company is acutely aware of the volatility in global financial markets and is actively engaged in commercial discussions with businesses and opportunities that have fundamentally strong offerings, but to date the opportunities have lacked viable access to traditional means of capital investment during these uncertain times.
On behalf of the Board
Steve Winfield
Executive Director
INTERIM INCOME STATEMENT (UNAUDITED)
For the period ended 30 June 2022
| Igraine plc | ||||
| 6 mths to | 6 mths to | |||
| 30 June | 30 June | |||
| 2022 | 2021 | |||
| £ GBP | £ GBP | |||
| Revenue | 0 | 0 | ||
| Cost of Sales | 0 | 0 | ||
| Gross Profit/(Loss) | 0 | 0 | ||
| Other Operating Income | 0 | 19,824 | ||
| Administrative Expenses | (128,223) | (152,785) | ||
| Loss before Investment Activities | (128,223) | (132,962) | ||
| (Loss) before Amortisation of Preference Shares | (128,223) | (132,962) | ||
| Profit/(Loss) before Taxation | (128,223) | (132,962) | ||
| Taxation Expense | 0 | 0 | ||
| Total Comprehensive Income attributable to Equity Holders of the Company | (128,223) | (132,962) | ||
STATEMENTS OF FINANCIAL POSITION (UNAUDITED)
As at 30 June 2022
| Igraine plc | |||
| As at | As at | ||
| 30 June | 30 June | ||
| 2021 | 2022 | ||
| £ GBP | £ GBP | ||
| Assets | |||
| Non-current assets | |||
| Property, plant and equipment | 2,089 | 1,048 | |
| Investments | 615,113 | 615,113 | |
| 617,202 | 616,161 | ||
| Current assets | |||
| Trade and other receivables | 148,302 | 1,450,284 | |
| Cash and cash equivalents | 765,723 | 88,459 | |
| 914,025 | 1,538,742 | ||
| Total assets | 1,531,227 | 2,154,903 | |
| Equity and liabilities | |||
| Equity | |||
| Issued share capital | 588,785 | 587,166 | |
| Share Premium | 1,946,995 | 166,268 | |
| Other reserves | 46,116 | - | |
| Retained earnings | (1,300,926) | (811,673) | |
| 1,280,970 | (58,240) | ||
| Non current liabilities | |||
| Loans and borrowings | 43,788 | 50,000 | |
| Current liabilities | |||
| Trade and other payables | 206,469 | 2,163,143 | |
| Total liabilities | 250,257 | 2,213,143 | |
| Total equity and liabilities | 1,531,227 | 2,154,903 | |
THE DIRECTORS OF THE COMPANY TAKE RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT.
Enquiries
Company:
Steve Winfield (Executive Director)
Simon Grant-Rennick (Non-Executive Director)
AQSE Growth Market Corporate Adviser
Peterhouse Capital Limited
Guy Miller / Mark Anwyl
Tel: +44 (0) 207 469 0930
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