Gledhow Investments plc: Interim Results to 31 March 2022 (1365545)

Gledhow Investments plc (GDH) Gledhow Investments plc: Interim Results to 31 March 2022 01-Jun-2022 / 07:00 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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Gledhow Investments plc

("Gledhow" or the "Company") First Half Results to 31 March 2022

Date: 1 June 2022 Results

Gledhow is pleased to announce its half year results ("interim results") for the current financial year. The period covered is from 1 October 2021 to 31 March 2022. These are unaudited interim results.

The Company continues to pursue its investment strategy which has the objective of achieving long-term capital growth.

The Company had cash of GBP 215,980 at the period end. The Company made a pre-tax loss of GBP 292,825 which included net unrealised losses on investments of GBP 434,968.

Despite the uncertain economic environment, the Company is in a strong position, thanks to its strong cash position, and we look forward to being able to make opportunistic investments in small to medium sized undervalued companies as they arise.

Risks in Relation to COVID-19

Whilst the full impact of the global pandemic is yet to be felt by businesses worldwide, it is likely to have a negative impact on the business prospects generally and small companies in particular. Likewise, the impact of the war in Ukraine, global supply chain issues and inflation heighten the risks for smaller companies in general. This has impacted on share prices, including some shares held by the Company. There remains the risk that the Company's investments might be further negatively impacted and might not realise the carrying values on sale.

Post Year-End Update

Since announcing the Company's audited results in January 2022, the Company continues to hold 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 as at the end of May 2022, the Company holds approximately 34% in AQSE Growth Market companies, and the remainder in AIM and LSE quoted/listed companies, and a small percentage in private companies, invested on a pre-IPO basis. The Directors continue to 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.

In the portfolio, there are some investee companies in the midst of undertaking reverse takeover or other corporate activity, and it is hoped that these companies will be successful in completing such transactions, allowing Gledhow to monetise its positions into cash.

The directors of the issuer accept responsibility for the contents of this announcement.

For further information please contact:

Guy Miller 020 7220 9795 (Gledhow Investments plc)

Profit and Loss Account

for the six months ended 31 March 2022 Continuing operations

                                                                        Six months to 31 March  Six months to 31 March 
                                                                        2022                    2021 
                                                                        GBP                       GBP 
Turnover 
 
 
Proceeds from sale of investments                                       512,207                 1,231,869 
Cost of sales (including unrealised gains and losses on investments     (775,517)               123,972 
held for resale) 
 
Gross (loss)/profit                                                     (263,310)               1,355,841 
 
Administrative expenses                                                 (29,515)                (53,126) 
 
(Loss)/profit on ordinary activities before tax                         (292,825)               1,302,715 
Taxation                                                                55,637                  (247,516) 
 
(Loss)/profit for the period                                            (237,188)               1,055,199 
 
(Loss)/earnings per share - Basic (pence)                               (0.25)                  2.15 

Balance Sheet as at 31 March 2022

                                                2022      2021 
                                                GBP         GBP 
Current assets 
Investments held for resale                     2,209,760 2,336,511 
Debtors                                         54,080    4,080 
Cash at bank and in hand                        215,980   374,005 
 
                                                2,479,820 2,714,596 
 
Creditors: amounts falling due within one year 
                                                (114,507) (363,692) 
 
 
Net current assets and total assets 
                                                2,365,313 2,350,904 
less current liabilities 
 
Capital and reserves 
 
 
Called up share capital                         975,714   490,000 
Share premium account                           384,408   71,122 
Profit and loss account                         955,223   1,695,712 
Other reserve                                   49,968    94,070 
 
 
Shareholders' funds 
                                                2,365,313 2,350,904 
- equity interests 
 Notes 

1. The interim results together with the related notes set out below have been approved by the board of directors of Gledhow Investments plc.

2. The Company's strategy is to make short to medium term investments in small to medium sized quoted or unquoted companies.

3. The financial results detailed above are unaudited, and have been reviewed by the auditors of the Company.

4. Called up share capital includes 9,949,084 Ordinary Shares of 1p each held as treasury shares by the Company.

5. Earnings per share - Basic

The earnings per share for the six months ended 31 March 2022 is calculated on the loss on ordinary activities after tax of GBP237,188 (2021: profit of GBP1,055,199) divided by the weighted average number of 95,658,143 (2021: 49,000,000) ordinary shares of 1p each in issue (which excludes the treasury shares held by the Company) during the period.

6. The financial information in this report does not constitute Statutory Accounts within the meaning of Section 434 of the Companies Act 2006. The financial statements for the year ended 30 September 2021 have been delivered to the Registrar of Companies and the auditors' report on those financial statements was unqualified and did not contain a statement made under Section 498(2) or Section 498(3) of the Companies Act 2006.

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ISIN:           GB0008842717 
Category Code:  MSCM 
TIDM:           GDH 
Sequence No.:   165313 
EQS News ID:    1365545 
 
End of Announcement  EQS News Service 
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