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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Globe Capital Limited | AQSE:GCAP | Aquis Stock Exchange | Ordinary Share | KYG394391158 | Ordinary shares |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.275 | 0.25 | 0.30 | 0.275 | 0.275 | 0.275 | 0.00 | 06:57:47 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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Globe Capital Limited
("Globe Capital" or the "Company")
Audited Annual Results for the year ended 31 December 2016
Globe Capital Limited (NEX: GCAP) is pleased to announce its audited annual
results for year ended 31 December 2016.
Chairman's Statement
I am pleased to report the final audited results for the year ended 31 December
2016 of Globe Capital Limited ("the Company").
Financial performance
The turnover for the year was nil (2015: nil) and the loss was GBP124,394 (2015:
GBP129,184). The loss per share was 0.07 pence (2015: 0.17 pence). In the past
year, the Directors have kept operational costs at a minimum.
Review of operations
The Company's investment strategy is to seek medium-to-long term investments in
businesses that exhibit growth potential. The Company intends to be an active
investor in situations where the Company can make a clear contribution to the
growth and development of the investment.
At the start of the year, the Company raised GBP100k in new equity and realigned
its investment focus towards the retail sector with an emphasis on menswear.
Following which, the Company made its maiden investment with a 25% interest in
Sterling Craig Limited, a UK based online retailer for men's fashion.
The Company's shares are traded on the NEX Exchange Growth Market.
Board changes
During the year under review, Wong Xinyan left the Company. I would like to
thank him all for his past service to the Company.
I am pleased to join the board and hope my experience and local knowledge
continue to prove to be of great value to the business.
Future prospects
The company is actively seeking investments to enhance shareholder value. We
are maintaining a tight control of the Company's resources, which we consider
adequate to support current levels of expenditure. The cash resources remain
adequate for the current level activity but will be reviewed once further
investment opportunities present themselves.
The Directors are presented with opportunities on an ongoing basis from an
extensive network of introducers. The company continues to focus on the retail
sector, although the board will also look at other global opportunities if they
present good shareholder value potential. The company continues to look at the
menswear business in particular.
Several target investments have been identified and the company is currently
talking to potential investors with the aim of raising further capital in order
to complete the next stage of our investment strategy.
I hope to be able to give further news of these developments in the near
future.
David Barnett
Chairman
31 May 2017
The directors of Globe Capital Limited accept responsibility for this
announcement.
For further information:
Globe Capital Limited
Christopher Neo, Company Secretary
+44 (0)20 3286 6388
http://www.globecapitalltd.com/
NEX EXCHANGE CORPORATE ADVISER:
Alexander David Securities Limited
David Scott - Corporate Finance
James Dewhurst - Institutional Sales
Telephone: +44 (0) 20 7448 9820
http://www.ad-securities.com
49 Queen Victoria Street, London EC4N 4SA
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2016
Audited Audited
Year ended Year ended
31 December 31 December
2016 2015
GBP GBP
Revenue -
-
Other Income - 2
Administrative Expenses (124,394) (129,186)
Profit / (Loss) Before Income Tax (124,394) (129,184)
Income Tax -
-
Profit / (Loss) for the period attributable to (124,394) (129,184)
equity holders
Earnings / (Loss) per share (0.07p) (0.17p)
Basic & Diluted (pence)
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2016
Audited Audited
Year ended Year ended
31 December 31 December
2016 2015
GBP GBP
Non-current Assets
Property, plant and equipment - 5,631
Investment in a subsidiary 1,250
Investment in an associate 12,500 -
Total Non-current Assets 13,750 5,631
Current assets
Trade and other receivables 6,996 51
Cash and cash equivalents 5,382 10,266
Total Current Assets 12,378 10,317
Current Liabilities
Trade and other payables 19,771 65,211
Net Current Liabilities (7,393) (54,894)
Net Assets 6,357 (49,263)
Non-current liabilities
Accruals 11,532 -
Amounts due to directors 13,137 -
Amount due to a shareholder 35,000 -
59,669 -
Net Liabilities (53,312) (49,263)
Shareholders' Equity
Called Up Share Capital 638,428 626,966
Retained Earnings (676,229)
(691,740)
Total Equity (53,312) (49,263)
GLOBE CAPITAL LIMITED
CONSOLIDATED STATEMENT OF CASH FLOW
FOR THE YEAR ENDED 31 DECEMBER 2016
Audited Audited
Year ended Year ended
31 December 31 December
2016 2015
GBP GBP
Profit/(Loss) before tax (124,394) (129,184)
Adjustment:
Other income - (2)
Depreciation 5,631 22,522
Operating profit/(loss) (118,763) (106,664)
Cash flows from operating activities
(Increase)/decrease in trade and other receivables (6,945) 521
Increase/(decrease) in trade and other payables (33,908) 56,996
Amounts due to directors 13,137 -
Cash utilised in operations (146,479) (49,147)
Cash flows from investing activities
Acquisition of a subsidiary (1,250) -
Acquisition of an associate (12,500) -
Bank interest received - 2
Net cash (used in) from investing activities (13,750) 2
Cash flows from financing activities
Proceeds from issuance of shares 120,345 -
Amount due to a shareholder 35,000 -
Net cash from financing activities 155,345 -
Net decrease in cash and cash equivalents (4,884) (49,145)
Cash and cash equivalents at the beginning of the 10,266 59,411
period
Cash and cash equivalents at end of period 5,382 10,266
END
(END) Dow Jones Newswires
May 31, 2017 10:58 ET (14:58 GMT)
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