TIDMCIA 
 
CLEAN INVEST AFRICA PLC 
 
             ("Clean Invest Africa", the "Group" or the "Company") 
 
         AUDITED RESULTS FOR THE FINANCIAL YEARED 31 DECEMBER 2021 
 
 
REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS 
 
Principal activity 
 
The Group's primary strategy is to identify investment opportunities and 
acquisitions in clean energy projects/companies or alternative technologies 
that are used in a socially and environmentally responsible way on a global 
basis, with the intention of building a diversified portfolio of assets. 
 
The subsidiaries of the Company, CoalTech Limited ("CoalTech"), a company 
registered in  the United Kingdom with registered number 11368750, and Coal 
Agglomeration South Africa (Pty) Ltd. ("CASA"), a company registered in South 
Africa with registered number 2015/439393/07, and CoalTech's subsidiaries Coal 
Tech LLC, a company registered in the United States of America with registered 
number 5685936, Coaltech S. à r.l., a company registered in Grand Duchy of 
Luxembourg with registered number B238812, and associates CoalTech Poland Sp. z 
o.o., a company registered in the Republic of Poland with registered number 
0000719690 and CoalTech Far East Pte. Ltd., a company registered in the 
Republic of Singapore with registration number 202120135R (collectively 
referred as "CoalTech Group"), are primarily engaged in agglomerating coal 
fines waste (coal dust) into coal pellets through the commercialisation of the 
Group's proprietary binding technology. 
 
Review of business and future developments 
 
The Group's subsidiary in South Africa, CASA, is preparing to start full 
commercial production activity at the Bulpan plant in quarter 3 of 2022. This 
may have a significant positive impact on the profitability and the cash flow 
of the business. 
 
The Directors are pleased to report that on 3 February 2022, the Company has 
successfully raised additional £100,000 to support the continuing growth of the 
Group. A total of 20,000,000 ordinary shares of 0.25p nominal value each have 
been placed with investors at 0.5p per share. For every two Placing Share 
issued, one warrant was granted, exercisable at 1.5p, valid for a period of 
three (3) years from the date of admission of the Placing Shares to the AQSE 
Growth Market. Further, should the placees validly exercise the 1.5p warrants 
in full, these will be replaced by a further one warrant, exercisable at 3p, 
for every two Placing Shares, valid for three years from grant. The shares were 
issued on 8 February 2022. On 11 March 2022, the Company has successfully 
raised an additional £100,000 to support the continuing growth of the Group. A 
total of 20,000,000 ordinary shares of 0.25p nominal value each have been 
placed with investors at 0.5p per share. For every two Placing Share issued, 
one warrant was granted, exercisable at 1.5p, valid for a period of three (3) 
years from the date of admission of the Placing Shares to the AQSE Growth 
Market. Further, should the placees validly exercise the 1.5p warrants in full, 
these will be replaced by a further one warrant, exercisable at 3p, for every 
two Placing Shares, valid for three years from grant. The shares were issued on 
18 March 2022. 
 
The financial results of the Group for the year ended 31 December 2021 show a 
loss after taxation of £1,157,655 (2020: loss of £1,168,834) while the 
Company's financial results for the year ended show a loss after taxation of £ 
298,061 (2020: loss of £279,566). 
 
Since re-admission to AQSE Growth Market and further to the SPA, the Company 
currently owns 100% of CoalTech and 75% of CASA. The final tranche of the 
Consideration Shares of 13,291,745 Ordinary Shares in respect of CASA are ready 
to be issued to the remaining South African Resident Sellers once the necessary 
approvals from the South African Reserve Bank ("SARB") have been granted. This 
would finally mark the formal closure of this transaction. 
 
On 30 March 2022, the Company and Contax Partners Inc. (beneficially owned by 
Filippo Fantechi) and Shaikh Mohamed Abdulla Khalifa AlKhalifa, (together the 
Lenders) ("Directors") agreed to settle the Facility Agreement as set out in 
paragraph 8.13, Part VI of its Admission Document dated 14 June 2019. As at 31 
December 2018, the Company had a loan facility agreement with the Lenders with 
an outstanding balance of US$5,758,598 and it was provided that the balance 
would increase by any further amounts that are advanced to CoalTech, as agreed 
by the parties. As at 31 December 2021, the final balance has increased to 
US$6,847,324 or approximately £5,231,238. The Company and the Lenders have 
agreed that the balance outstanding be renegotiated to a total amount of £ 
5,000,000 and that all debt currently owed to the Lenders be fully and 
immediately settled by the issuance of a convertible loan note ("CLN"), with a 
zero percent coupon for a 5-year term and repayable only in Ordinary shares of 
the Company at a price of 1p per share. 
 
Further, the CLN comprises an amount of £2,718,342 for Contax Partners Inc and 
£2,281,658 for Shaikh Mohamed Abdulla Khalifa AlKhalifa. Either of the Lenders 
can request an immediate conversion, subject only to them not impacting the 
waiver granted by the Takeover Panel, approved by Shareholders at the General 
Meeting held on 4 July 2019 (further details of which are set out in paragraph 
15 of Part I of the Admission Document). The waiver waives the obligations on 
the Concert Party or any member thereof to make a general offer under Rule 9 of 
the Takeover Code which may arise because of the transaction contemplated by 
the Admission Document. All conversion shares issued under the CLN shall be 
subject to a 12-month lock-in period and thereafter to an orderly market 
agreement for a further period of 12 months. Contax Partners notified the 
immediate conversion of all of their CLN, on 31 March 2022, in an amount of £ 
2,718,342 and accordingly the Company issued 271,834,235 new Ordinary Shares to 
Contax Partners Inc. The Contax Partners CLN terminated on the issue of these 
new Ordinary Shares on 8 April 2022. Shaikh Mohamed Abdulla Khalifa AlKhalifa 
notified the immediate conversion of an amount of £1,750,000, on 31 March 2022, 
and accordingly the Company issued 175,000,000 new Ordinary Shares to Shaikh 
Mohamed Abdulla Khalifa AlKhalifa. After conversion to Shaikh Mohamed Abdulla 
Khalifa AlKhalifa on 8 April 2022, the CLN remains at £531,658 or equivalent to 
53,165,765 new Ordinary Shares. 
 
The outbreak of the Corona Virus (COVID-19) in early 2020 and the ongoing 
effects of the virus, have had a negative effect on the development and, 
possibly, finalisation of the various initiatives which were reported during 
2021 (as on all businesses worldwide) due to the various emergency measures 
implemented by each country. In particular, the COVID-19 pandemic has impacted 
the Group's progress on business opportunities in India, Australia, Colombia 
and Italy, as well as obviously South Africa where the Group's subsidiary, 
CASA, is operating. The operation of the Group's subsidiary, CASA, mainly 
taking place at the Bulpan facility in Mpumalanga, South Africa, during the 
year was also affected causing delays in the various test work programs and 
commercial production projects that had been planned. 
 
Outlook 
 
The Directors are pleased with the progress made in this initial period, 
notwithstanding to the continuous impacts on the Group's business of the 
COVID-19 pandemic and look forward to continuing to update shareholders on the 
progress of the Group and the exciting prospects ahead, some of which are 
developing reasonably fast. We continue to seek new investment opportunities 
and will advise shareholders as they come to fruition. 
 
The Directors do not recommend the payment of a dividend for the period to 31 
December 2021. 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
                                   -S - 
 
Certain information contained in this announcement would have been deemed 
inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 
until the release of this announcement. 
 
ENQUIRIES : 
 
Clean Invest Africa plc 
 
Filippo Fantechi (Executive Director) +973 3969 6273 
 
Shaikh Mohamed Abdulla Khalifa AlKhalifa (Non-Executive Chairman) +973 3969 
2299 
 
Peterhouse Capital Limited 
 
Corporate Adviser +44 20 7469 0930 Guy Miller/Mark Anwyl 
 
 
 
Consolidated Statement of Profit or Loss 
 
for the year ended 31 December 2021 
 
                                                              2021           2020 
 
                                                                 £              £ 
 
CONTINUING OPERATIONS 
 
Revenue                                                     68,602            444 
 
Cost of sales                                            (251,562)              - 
 
GROSS (LOSS)/PROFIT                                      (182,960)            444 
 
Other operating income                                       2,409            869 
 
Fair value of share options and warrants                         -       (21,374) 
 
Operating costs                                          (867,892)    (1,105,496) 
 
Foreign exchange revaluation on amounts due to a          (92,773)       (32,256) 
related party 
 
OPERATING LOSS                                         (1,141,216)    (1,157,813) 
 
Finance costs                                             (16,439)       (11,025) 
 
Finance income                                                   -              4 
 
LOSS BEFORE INCOME TAX                                 (1,157,655)    (1,168,834) 
 
Income tax                                                       -              - 
 
LOSS FOR THE YEAR                                      (1,157,655)    (1,168,834) 
 
Loss attributable to: 
 
Owners of the parent                                   (1,157,655)    (1,168,834) 
 
Earnings per share expressed 
 
in pence per share: 
 
Basic and diluted                                           (0.10)         (0.10) 
 
Clean Invest Africa Plc (Registered number: 10967142) 
 
Consolidated Statement of Profit or Loss and Other Comprehensive Income 
 
for the year ended 31 December 2021 
 
                                                         2021          2020 
 
                                                            £             £ 
 
LOSS FOR THE YEAR                                 (1,157,655)   (1,168,834) 
 
OTHER COMPREHENSIVE INCOME 
 
Currency translation differences                       64,358        91,548 
 
TOTAL COMPREHENSIVE INCOME FOR THE YEAR           (1,093,297)   (1,077,286) 
 
Total comprehensive income attributable to: 
 
Owners of the parent                              (1,093,297)   (1,077,286) 
 
 
 
Consolidated Statement of Financial Position 
 
31 December 2021 
 
                                                              2021            2020 
 
                                                                 £               £ 
 
ASSETS 
 
NON-CURRENT ASSETS 
 
Right-of-use assets                                         25,230          20,966 
 
Property, plant and equipment                              409,498         477,044 
 
Investments                                                 11,653           5,247 
 
                                                           446,381         503,257 
 
CURRENT ASSETS 
 
Inventories                                                  7,120           7,679 
 
Trade and other receivables                              3,575,497       3,517,327 
 
Cash and cash equivalents                                   31,253          13,864 
 
                                                         3,613,870       3,538,870 
 
TOTAL ASSETS                                             4,060,251       4,042,127 
 
EQUITY 
 
SHAREHOLDERS' EQUITY 
 
Called up share capital                                  3,000,526       2,949,388 
 
Share premium                                           24,990,187      24,938,863 
 
Shares to be issued                                        332,294         332,294 
 
Convertible loans                                          215,000         155,000 
 
Share-based payment reserve                              3,243,556       3,243,556 
 
Currency translation reserve                               238,947         174,589 
 
Reserve takeover reserve                              (23,050,570)    (23,050,570) 
 
Accumulated losses                                    (12,569,852)    (11,412,197) 
 
TOTAL EQUITY                                           (3,599,912)     (2,669,077) 
 
LIABILITIES 
 
NON-CURRENT LIABILITIES 
 
Lease liabilities                                           12,765          17,269 
 
CURRENT LIABILITIES 
 
Trade and other payables                                 7,630,790       6,685,967 
 
Lease liabilities                                           16,608           7,968 
 
                                                         7,647,398       6,693,935 
 
TOTAL LIABILITIES                                        7,660,163       6,711,204 
 
TOTAL EQUITY AND LIABILITIES                             4,060,251       4,042,127 
 
 
 
 
.................................................... 
F Fantechi - Director 
 
The financial statements were approved by the Board of Directors and authorised 
for issue on 29 June 2022 and were signed on its behalf by: 
 
 
 
 
Company Statement of Financial Position 
 
31 December 2021 
 
                                                        2021            2020 
 
                                                           £               £ 
 
ASSETS 
 
NON-CURRENT ASSETS 
 
Investments                                        4,744,225       4,744,225 
 
                                                   4,744,225       4,744,225 
 
CURRENT ASSETS 
 
Trade and other receivables                          246,292         235,714 
 
Cash and cash equivalents                             14,068           1,496 
 
                                                     260,360         237,210 
 
TOTAL ASSETS                                       5,004,585       4,981,435 
 
EQUITY 
 
SHAREHOLDERS' EQUITY 
 
Called up share capital                            3,000,526       2,949,388 
 
Share premium                                     24,990,187      24,938,863 
 
Shares to be issued                                  332,294         332,294 
 
Convertible loans                                    215,000         155,000 
 
Share-based payment reserve                        3,243,556       3,243,556 
 
Accumulated losses                              (27,191,528)    (26,893,467) 
 
TOTAL EQUITY                                       4,590,035       4,725,634 
 
LIABILITIES 
 
CURRENT LIABILITIES 
 
Trade and other payables                             414,550         255,801 
 
TOTAL LIABILITIES                                    414,550         255,801 
 
TOTAL EQUITY AND LIABILITIES                       5,004,585       4,981,435 
 
A separate income statement for the parent entity has not been presented, as 
permitted by section 408 of the Companies Act 2006. The loss for the parent 
company for the year was £298,061 (2020: loss of £279,566). 
 
The financial statements were approved by the Board of Directors and authorised 
for issue on 29 June 2022 and were signed on its behalf by: 
 
                 .................................................... 
 
F Fantechi 
 
Director 
 
 
 
Clean Invest Africa Plc (Registered number: 10967142) 
 
Consolidated Statement of Changes in Equity 
 
for the year ended 31 December 2021 
 
GBP                          Share      Share  Shares to Convertible Share-based       Reverse      Currency   Accumulated         Total 
                           capital    premium  be issued       loans     payment      takeover   Translation        losses        equity 
                                                                         reserve       reserve       reserve 
 
1 January 2021           2,949,388 24,938,863    332,294     155,000   3,243,556  (23,050,570)       174,589  (11,412,197)   (2,669,077) 
 
Loss for the year                -          -          -           -           -             -             -   (1,157,655)   (1,157,655) 
 
Other comprehensive 
income: 
 
Currency translation             -          -          -                       -             -        64,358             -        64,358 
differences                                                        - 
 
Total comprehensive              -          -          -           -           -             -        64,358   (1,157,655)   (1,093,297) 
income 
 
Shares issued during the    51,138     51,324          -                       -             -             -             -       102,462 
year                                                               - 
 
Interest bearing loans           -          -          -      60,000           -             -             -             -        60,000 
and 
borrowings during the 
year 
 
Total transactions with     51,138     51,324          -      60,000           -             -             -             -       162,462 
owners recognised in 
equity 
 
31 December 2021         3,000,526 24,990,187    332,294     215,000   3,243,556  (23,050,570)       238,947  (12,569,852)   (3,599,912) 
 
 
 
Consolidated Statement of Changes in Equity 
 
for the year ended 31 December 2021 
 
GBP               Share      Share  Shares Convertible Share-based      Reverse    Currency  Accumulated       Total 
                capital    premium   to be       loans     payment     takeover translation       losses      equity 
                                    issued                 reserve      reserve     reserve 
 
1 January     2,844,413 24,623,938 332,294     134,388   3,222,182 (23,050,570)      83,041 (10,243,363) (2,053,677) 
2020 
 
Loss for the          -          -       -           -           -            -           -  (1,168,834) (1,168,834) 
year 
 
Other 
comprehensive 
income: 
 
Currency              -          -       -                       -            -      91,548            -      91,548 
translation                                          - 
differences 
 
Total                 -          -       -           -           -            -      91,548  (1,168,834) (1,077,286) 
comprehensive 
income 
 
Shares issued   104,975    314,925       -                       -            -           -            -     419,900 
during the                                           - 
year 
 
Share-based           -          -       -           -      21,374            -           -            -      21,374 
payment 
 
Interest              -          -       -      20,612           -            -           -            -      20,612 
bearing loans 
and 
borrowings 
during the 
year 
 
Total           104,975    314,925       -      20,612      21,374            -           -            -     461,886 
transactions 
with owners 
recognised in 
equity 
 
31 December   2,949,388 24,938,863 332,294     155,000   3,243,556 (23,050,570)     174,589 (11,412,197) (2,669,077) 
2020 
 
 
 
Company Statement of Changes in Equity 
 
for the year ended 31 December 2021 
 
GBP                  Share      Share  Shares Convertible Share-based  Accumulated      Total 
                   capital    premium   to be       loans     payment       losses     equity 
                                       issued                 reserve 
 
1 January 2021   2,949,388 24,938,863 332,294     155,000   3,243,556 (26,893,467)  4,725,634 
 
Loss for the             -          -       -           -           -    (298,061)  (298,061) 
year 
 
Other                    -          -       -                       -            -          - 
comprehensive                                           - 
income 
 
Total                    -          -       -           -           -    (298,061)  (298,061) 
comprehensive 
income 
 
Interest bearing         -          -       -      60,000           -            -     60,000 
loans and 
borrowings 
 
Shares issued by    51,138     51,324       -                       -            -    102,462 
the Company                                             - 
during the year 
 
Total               51,138     51,324       -      60,000           -            -    162,462 
transactions 
with owners 
recognised in 
equity 
 
31 December 2021 3,000,526 24,990,187 332,294     215,000   3,243,556 (27,191,528)  4,590,035 
 
1 January 2020   2,844,413 24,623,938 332,294     134,388   3,222,182 (26,613,901)  4,543,314 
 
Loss for the             -          -       -           -           -    (279,566)  (279,566) 
year 
 
Other                    -          -       -                       -            -          - 
comprehensive                                           - 
income 
 
Total                    -          -       -           -           -    (279,566)  (279,566) 
comprehensive 
income 
 
Interest bearing         -          -       -      20,612           -            -     20,612 
loans and 
borrowings 
 
Shares issued by   104,975    314,925       -                       -            -    419,900 
the Company                                             - 
during the year 
 
Share-based              -          -       -           -      21,374            -     21,374 
payment 
 
Total              104,975    314,925       -      20,612      21,374            -    461,886 
transactions 
with owners 
recognised in 
equity 
 
31 December 2020 2,949,388 24,938,863 332,294     155,000   3,243,556 (26,893,467)  4,725,634 
 
 
 
 
Consolidated Statement of Cash Flows 
 
for the year ended 31 December 2021 
 
                                                            2021            2020 
 
                                                               £               £ 
 
Cash flows from operating activities 
 
Cash generated from operations                         (190,903)       (276,198) 
 
Exchange gains                                            64,802          25,803 
 
Finance costs                                           (17,088)         (2,737) 
 
Net cash outflow from operating activities             (143,189)       (253,132) 
 
Cash flows from investing activities 
 
Purchase of property, plant and equipment                      -         (8,488) 
 
Interest received                                              -               4 
 
Net cash outflow from investing activities                     -         (8,484) 
 
Cash flows from financing activities 
 
Payment of lease liabilities                            (11,031)         (6,259) 
 
Proceeds from issue of shares                            102,462         150,000 
 
Funding received from related parties                     69,147         157,923 
 
Payment of related party borrowings                            -        (39,415) 
 
Net cash inflow from financing activities                160,578         262,249 
 
Increase in cash and cash equivalents                     17,389             633 
 
Cash and cash equivalents at beginning of year            13,864          13,231 
 
Cash and cash equivalents at end of year                  31,253          13,864 
 
 
 
Company Statement of Cash Flows 
 
for the year ended 31 December 2021 
 
                                                             2021            2020 
 
                                                                £               £ 
 
Cash flows from operating activities 
 
Cash used in operations                                  (76,083)       (154,512) 
 
Interest paid                                            (13,807)               - 
 
Net cash from operating activities                       (89,890)       (154,512) 
 
Cash flows from investing activities 
 
Interest received                                               -               4 
 
Net cash from investing activities                              -               4 
 
Cash flows from financing activities 
 
Share issue                                               102,462         150,000 
 
Net cash from financing activities                        102,462         150,000 
 
Increase/(decrease) in cash and cash equivalents           12,572         (4,508) 
 
Cash and cash equivalents at beginning of year              1,496           6,004 
 
Cash and cash equivalents at end of year                   14,068           1,496 
 
 
 
END 
 
 

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June 30, 2022 11:30 ET (15:30 GMT)

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