Gledhow Investments plc: Audited Results to 30 September 2021 and Notice of AGM

Gledhow Investments plc (GDH) Gledhow Investments plc: Audited Results to 30 September 2021 and Notice of AGM 21-Jan-2022 / 11:00 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.

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21 January 2022

Gledhow Investments plc

("Gledhow" or the "Company")

AQSE: GDH Audited Final Results to 30 September 2021 Notice of Annual General Meeting

Director Statement:

I have pleasure in presenting your company's Annual Report and Financial Statements for the year ended 30 September 2021.

Your directors continue to follow the same investment strategy, namely to invest in small to medium sized undervalued or fast growing companies, with the investment objective of achieving long term capital growth in excess of the FTSE All Share Index.

The Company had cash of GBP524,643 at the year-end (2020: GBP382,396). The pre-tax profit was GBP841,890 (2020: pre-tax profit of GBP507,686).

During the year, the Company did an equity issue to raise GBP GBP850,000. The placees also received one Subscriber Warrant for every two Ordinary Shares subscribed for, with an exercise price of GBP0.03 per share. The Subscriber Warrants can be exercised at any time following the General Meeting, that was held on 21 July 2021, for a period of 18 months.

The Company has continued to build up positions in AIM, LSE and Aquis Exchange traded companies, including those companies at early stages of development, and some pre-IPO investments. Of the companies in the portfolio at the year end, the Company held approximately 38% in AQSE Growth Market companies, approximately 55% in AIM and LSE quoted/listed companies, and a small percentage in private companies, having invested on a pre-IPO basis. The Directors caution that there is a historically perceived lack of liquidity generally in AQSE Growth Market traded companies and that these investments may not be readily realisable into cash.

The Company was not impacted by the Covid-19 pandemic during the year.

The Company does not recommend the payment of a dividend for the year end to 30 September 2021.

The Notice of Annual General Meeting is set out at the back of the annual report and accounts and can be found at the end of this announcement.

The Directors of the Company accept responsibility for the contents of this announcement. G R Miller

Managing Director

21 January 2022

Enquiries:

Guy Miller: + 44 (0) 7220 9795 (Gledhow Investments plc) Statement of Comprehensive Income for the year ended 30 September 2021

                                           2021      2020 
 
                                           GBP         GBP 
Turnover                                   1,909,593 1,689,884 
Cost of sales                              (948,341) (1,115,439) 
 
Gross profit 
                                           961,252   574,445 
Administrative expenses                    (119,362) (66,759) 
 
Profit before taxation 
                                           841,890   507,686 
Taxation                                   (159,959) (96,460) 
 
Profit for the financial year 
                                           681,931   411,226 
Total comprehensive income for the year    681,931   411,226 
Basic profit per share (pence)             1.05p     0.84p 
Diluted profit per share (pence)           1.01p     0.83p 

The income statement has been prepared on the basis that all operations are continuing operations. Statement of Financial Position as at 30 September 2021

 
                                                               2020      2020 
 
                                                               GBP         GBP 
Current assets 
Investments held for resale                                    2,356,250 1,089,389 
Debtors                                                        108,456   4,080 
Cash at bank and in hand                                       524,643   382,396 
 
 
                                                               2,989,349 1,475,865 
Creditors: amounts falling due within one year                 (212,713) (180,160) 
 
Net current assets and total assets less current liabilities 
                                                               2,776,636 1,295,705 
Capital and reserves 
Called up share capital                                        975,714   490,000 
Share premium account                                          384,408   71,122 
Profit and loss account                                        1,366,546 640,513 
Other reserve                                                  49,968    94,070 
 
Shareholders' funds - equity interests 
                                                               2,776,636 1,295,705 

The financial statements were approved by the Board and authorised for issue on 21 January 2022. G R Miller

Director

Company No. 03848331 Statement of Changes in Equity for the year ended 30 September 2021

 
                                                                             Profit and loss 
                                                     Share        Share      reserve               Other 
                                                     capital      premium                          reserve 
                                                                             GBP                                Total 
                                                     GBP            GBP                                GBP 
                                               Notes                                                          GBP 
Balance at 1 October 2019                            490,000      71,122     229,287               94,070     884,479 
Year ended 30 September 2020: 
 
Profit for the year                                  -            -          411,226               -          411,226 
 
 
Total comprehensive income for the year 
                                                     -                       411,226 
                                                                  -                                -          411,226 
Credit to equity for equity settled share 
based payments 
                                                     -            -          -                     -          - 
 
Balance at 30 September 2020                         490,000                 640,513 
                                                                  71,122                           94,070     1,295,705 
 
Year ended 30 September 2021: 
 
Profit for the year                                  -                       681,931 
                                                                  -                                -          681,931 
 
 
Total comprehensive income for the year 
                                                     -                       681,931 
                                                                  -                                -          681,931 
 
Credit to equity for equity settled share 
based payments 
                                               14    -                       - 
                                                                  -                                -          - 
Transfer of share-based payment reserve on 
lapsed warrants 
                                                     -            -          44,102                (44,102)   - 
 
Share issue                                    13    485,714                 - 
                                                                  364,286                          -          850,000 
Share issue expenses                                 -            (51,000)   -                     -          (51,000) 
 
Balance at 30 September 2021                         975,714                 1,366,546 
                                                                  384,408                          49,968     2,776,636 

Statement of Cash Flows for the year ended 30 September 2021

 
                                                             2021        2020 
 
                                                       Notes GBP           GBP 
Cash flows from operating activities 
Cash used in operations                                15    (254,684)   (2,364) 
Taxation paid                                                (96,460)    (18,398) 
 
Net cash outflow from operating activities 
                                                             (351,144)   (20,762) 
Investing activities 
Proceeds from disposal of investments                        1,909,593   1,689,883 
Purchase of investments                                      (2,215,202) (1,411,565) 
Dividends received                                           -           - 
 
Net cash (used in)/generated from investing activities 
                                                             (305,609)   278,318 
Financing activities 
Net proceeds from issue of shares                            799,000     - 
 
Net cash generated from financing activities 
                                                             799,000     - 
 
Net increase in cash and cash equivalents 
                                                             142,247     257,556 
Cash and cash equivalents at beginning of year               382,396     124,840 
 
Cash and cash equivalents at end of year 
                                                             524,643     382,396 
Relating to: 
 
Cash at bank and in hand                                     524,643     382,396 

Notice of Annual General Meeting

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January 21, 2022 06:00 ET (11:00 GMT)