TIDMAUCT
RNS Number : 6143P
Auctus Growth Plc
11 October 2019
AUCTUS GROWTH PLC ('Auctus', the 'Company)
INTERIM REPORT AND UNAUDITED INTERIM FINANCIAL INFORMATION
FOR THE SIX MONTHSED 30 JUNE 2019
Dear Shareholder,
I present the Chairman's report for the financial period ending
30 June 2019, where the Company reported a net loss of GBP19,388
(0.73p per share) and as at 30 June 2019 had liquid cash balances
of GBP911,712.
Within the Chairman's Statement accompanying the full year
accounts ending 31 December 2018, I referred to a potential
transaction that was under due diligence at that time.
Unfortunately, I am disappointed to report that this transaction
could not be concluded principally due to disagreement over the
valuation as well as over some other key terms.
The harsh reality is that in a competitive marketplace either
the quality of opportunities being introduced or the lack finance
attached to deals has led to a number of failed processes which has
been very frustrating and disappointing for management and
shareholders alike.
However, the Board continues to actively evaluate a number a
potential transactions across a variety of different sectors. At
this time no formal agreement has been entered into by the Company
however the Board remains focused on delivering a transaction that
brings both value and growth potential to the Shareholders of
Auctus Growth in the near term.
Costs continue to be prudently monitored and are in line with
the previously announced budget of GBP50,000 per annum (the
majority of which is comprised of FCA costs, audit and registrar
costs.) The Directors continue to draw no salary or fees from the
Company.
Finally, the Board would like to thank Shareholders for their
continued patience and support. Further updates will be provided in
due course in regard to the future plans for the Company.
Malcolm Burne
Chairman
Date: 11 October 2019
1.1.18 to Year ended
1.1.9 to 30.6.19 30.6.18 31.12.18
(unaudited) (unaudited) (audited)
GBP GBP GBP
NET TRADING INCOME - - -
-
Other operating expenses (19,388) (16,459) (47,708)
------------ ------------ --------------
Total operating expenses (19,388) (12,573) (47,708)
------------ ------------ -------------
OPERATING LOSS (19,388) (12,573) (47,708)
Finance income - - -
------------ -------------- -------------
LOSS BEFORE TAXATION (19,388) (12,573) (12,573)
Income tax expense - - -
------------ ------------ -------------
LOSS FOR THE PERIOD ATTRIBUTABLE
TO EQUITY HOLDERS OF THE COMPANY (19,388) (12,573) (47,708)
======= ======= =======
Earnings per share (pence) - basic
and fully diluted (0.73)p (0.47)p (1.79p)
======= ======= =======
At 30.6.19 At 30.6.18 At 31.12.18
(unaudited) (unaudited) (audited)
GBP GBP GBP
CURRENT ASSETS
Trade and other receivables 2,180 7,133 10,188
Cash and cash equivalents 911,712 961,971 920,262
------------- ------------- -------------
913.892 969,104 930,450
CURRENT LIABILITIES
Trade and other payables (20,330) (21,019) (17,500)
------------- ------------- ------------
NET CURRENT ASSETS 893,562 948,085 912,950
------------- ------------- -------------
NET ASSETS 893,562 948,085 912,950
======== ======== =======
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS
OF THE COMPANY
Share capital 266,900 266,900 266,900
Share premium account 994,271 994,271 994,271
Share-based payment reserve - - -
Retained earnings (367,609) (313,086) (348,221)
------------- ------------- -------------
TOTAL EQUITY 893,562 948,085 912,950
=======
======== ======== ========
Net asset value per share (basic) 33.48p 35.52p 34.86p
======== ======== ======
1.1.18 to
1.1.19 to 30.6.19 1.1.18 to 30.6.18 31.12.18
(unaudited) (unaudited) (audited)
GBP GBP GBP
Net cash outflow from
operating activities (8,550) (9,610) (51,319)
---------------- ---------------- ----------------
Cash flows from
financing activities
Share issue proceeds - - -
Share issue costs - - -
----------------- ----------------- --------------
(8,550) (9,610) (51,319)
------------------ ------------------ -------------
Cash flows from
investing activities
Finance income - - -
------------------- ------------------- -------------
Net
(decrease)/increase
in cash and cash
equivalents (8,550) (9,610) (51,319)
Cash and cash
equivalents at
beginning of period 920,262 971,581 971,581
------------------- ------------------- -------------
Cash and cash
equivalents at end
of period 911,712 961,971 920,262
=========== =========== =======
Share capital Share premium Share Retained Total
-based payment earnings
reserve
GBP GBP GBP GBP GBP
At 1 January 2018 266,900 994,271 - (300,513) 960,658
Loss for period ended
30 June 2018 - - - (12,573) (12,573)
________ ________ _________ _________ _________
At 30 June 2018 266,900 994,271 - (313,086) 948,085
Loss for period ended
31 December 2018 - - - (35,135) (35,135)
Transfer on expiry of - -
share options - - -
________ ________ _________ _________ _________
At 31 December 2018 266,900 994,271 - (348,221) 912,950
Loss for period ended
30 June 2019 - - - (19,388) (19,388)
________ ________ _________ _________ _________
At 30 June 2019 266,900 994,271 - (367,609) 893,562
======= ======= ======= ======= =======
1. GENERAL
The interim financial information for the six month period ended
30 June 2019 are unaudited and were approved by the Directors of
the Company on 11 October 2019 . The condensed financial
information set out above does not constitute statutory accounts
within the meaning of Section 434 of the Companies Act 2006.
The financial information contained in this report in respect of
the annual financial statements for the period ended 31 December
2018 has been extracted from the report and financial statements
for that period which have been filed with the Registrar of
Companies. The report of the auditors on those accounts did not
contain a statement under section 498(2) or (3) of the Companies
Act 2006 and was not qualified.
The interim financial information is unaudited and has not been
reviewed by the auditors.
The Company's operations are not subject to seasonality or
cyclicality.
No dividend has been declared or paid in this interim
period.
2. ACCOUNTING POLICIES
The principal accounting policies and methods of computation
have remained unchanged from those used in the preparation of the
Company's 2018 annual financial statements and are expected to be
used for the Company's 2019 annual financial statements.
3. CASH FLOWS FROM OPERATING ACTIVITIES
1.1.19 to 1.1.19 to
30.6.19 30.6.19 1.1.18 to 31.12.18
GBP GBP GBP
Loss before taxation (19,388) (12,573) (47,708)
Adjustments for:
Finance income - - -
-------------------- -------------------- --------------------
(19,388) (12,573) (47,708)
Decrease/(increase) in receivables 8,008 (229) (3,284)
Increase/ (Decrease) in payables 2,830 3,192 (327)
-------------------- -------------------- --------------------
Net cash (outflows)/inflows from
operating activities (8,550) (9,610) (51,319)
============= ============= =============
4. EARNINGS PER SHARE
Basic earnings per share is calculated by dividing the earnings
attributable to ordinary shareholders by the weighted average
number of ordinary shares outstanding during the period. Diluted
earnings per share is calculated using the weighted average number
of shares adjusted to assume the conversion of all dilutive
potential ordinary shares.
Basic Earnings per share Earnings Weighted average Per-share
number of shares amount
GBP No. (pence)
Earnings per share attributed
to ordinary shareholders (19,388) 2,668,999 (0.73)p
========= ============ =========
The Company has made a loss and, accordingly the effect of the
share options is anti-dilutive.
5. NET ASSET VALUE PER SHARE
The "basic" net asset value per share figures are calculated on
the basis of the net assets attributable to equity shareholders
divided by the number of ordinary shares in issue at the relevant
dates of 2,668,999 (30 June 2018: 2,668,999; 31 December 2018:
2,668,999).
6. SHARE CAPITAL
Allotted, called up and fully paid:
At 30.6.19 At 30.6.18 At 31.12.18
GBP GBP GBP
2,668,999 Ordinary shares
of GBP0.10
each 266,900 266,900 266,900
=================================== =================================== ===================================
7. COPIES OF INTERIM REPORT
Copies of the interim report are available to the public free of
charge from the Company at 5th Floor, 15 Whitehall, London,
England, SW1A 2DD during normal office hours, Saturdays and Sundays
excepted, for 14 days from today and are available on the website
at www.auctusgrowthplc.co.uk.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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