Gledhow Investments PLC Final Results and Notice of AGM

 
TIDMGDH 
 
GLEDHOW INVESTMENTS PLC 
 
Final Results for the Financial Year ended 30 September 2015 
 
Date: December 15, 2015    Gledhow Investments plc is pleased to announce its 
results for the year ended 30 September 2015. These results and the following 
statement have been extracted from the audited financial statements of the 
Company. The annual  report and accounts will be mailed to shareholders later 
today. 
 
I have pleasure in presenting your company's Annual Report and Financial 
Statements for the year ended 30 September 2015. 
 
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. 
 
During the year, no new investments were made. We had cash of GBP247,224 at the 
year-end (2014: GBP239,099). The pre-tax loss was GBP129,395 primarily due a fall 
in the value of our shareholdings in a number of natural resources companies 
including Pires Investments plc, Stellar Resources plc, Ascent Resources plc 
and Wishbone Gold plc (2014: pre-tax loss of GBP144,471). 
 
On 1 September 2015, Bruce Rowan resigned for health reasons.  I was appointed 
to the board on the same date. 
 
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 take 
opportunistic investments in small to medium sized undervalued companies as 
they arise. 
 
B L Miller 
Managing Director 
14 December 2015 
 
 
                                                                     2015       2014 
Profit and Loss Account for the year ended 30                         GBP        GBP 
September 2015 
 
 
Turnover                                                           43,745     49,829 
 
Cost of sales                                                   (126,333)  (145,045) 
 
Gross loss                                                       (82,588)   (95,216) 
 
Administrative expenses                                          (46,807)   (49,297) 
 
Operating loss                                                  (129,395)  (144,513) 
 
Interest receivable and similar income                                  -         42 
 
Loss on ordinary activities before taxation                     (129,395)  (144,471) 
 
Taxation                                                                -          - 
 
Loss for the year                                               (129,395)  (144,471) 
 
Basic loss per share (pence)                                      (0.26p)    (0.29p) 
 
Diluted loss per share (pence)                                    (0.26p)    (0.29p) 
 
The Company's operation in the year continued unchanged; no operations were 
discontinued or acquired. 
 
There are no recognised gains and losses other than those passing through the 
profit and loss account. 
 
 
 
Balance Sheet as at 30 September 2015                            2015        2014 
 
Current assets                                                    GBP         GBP 
 
Stock                                                         265,502     391,834 
 
Debtors                                                             -       6,898 
 
Cash at bank and in hand                                      247,224     239,099 
 
                                                              512,726     637,831 
 
Creditors: amounts falling due within                                    (11,841) 
one year                                                     (16,131) 
 
Net current assets and total assets                                       625,990 
less                                                          496,595 
current liabilities 
 
Capital and reserves 
 
Called up share capital                                       490,000     490,000 
 
Share premium account                                          71,122      71,122 
 
Profit and loss account                                     (108,629)      20,766 
 
Other reserve                                                  44,102      44,102 
 
Shareholders' funds - equity interests                        496,595     625,990 
 
The financial statements were approved by the Board and authorised for issue on 
14 December 2015. 
 
B L Miller 
Director 
 
Company No. 03848331 
 
 
 
 
Cash Flow Statement for the year ended 30                            2015       2014 
September 2015 
 
                                                                      GBP        GBP 
 
Net cash inflow/(outflow) from operating                            8,125    (6,984) 
activities 
 
Taxation                                                                -          - 
 
Net cash inflow/(outflow) before management of                               (6,984) 
liquid resources and financing                                      8,125 
 
Increase/(decrease) in cash in the year                             8,125    (6,984) 
 
 
 
 
Notice of Annual General Meeting 
 
Notice is hereby given that the Annual General Meeting of Gledhow Investments 
plc ("the Company") will be held at 3.00 pm on 9 February 2016 at 1st Floor, 3 
Crawford Place, London W1H 4LB for the following purposes: 
 
ORDINARY BUSINESS 
 
 1. To receive the Directors' Report and audited financial statements of the 
    Company for the year ended 30 September 2015. 
 2. To re-elect G. Melamet as a director of the Company. 
 3. To re-elect B L Miller as director of the Company. 
 4. To re-appoint UHY Hacker Young as auditors of the Company and to authorise 
    the directors to fix their remuneration. 
 
SPECIAL BUSINESS 
 
5.           To consider and, if thought fit, pass the following resolution 
which will be proposed as an ordinary resolution: 
 
          That the directors be generally and unconditionally authorised under 
section 551 of the Companies Act 2006 (the Act) to allot shares in the Company 
and to grant rights to subscribe for or to convert any security into shares in 
the Company on and subject to such terms as the directors may determine up to a 
total nominal amount of GBP510,000, such authority shall expire at the conclusion 
of the next annual general meeting of the Company after the date of the passing 
of this resolution unless renewed, varied or revoked by the Company in general 
meeting. The directors shall be entitled, under this authority, to make at any 
time prior to the expiry of this authority any offer or agreement which would 
or might require relevant securities to be allotted after the expiry of this 
authority. 
 
          To consider and, if thought fit, pass the following resolutions as 
special resolutions: 
 
6.       That, subject to the passing of resolution 5 in this notice, the 
directors be empowered under section 570 of the Companies Act 2006 ("the Act") 
to allot equity securities (within the meaning of section 560 of the Act) for 
cash under the authority given by resolution 5 in this notice as if sub-section 
561(1) of the Act did not apply to such allotment, provided that this power 
shall be limited: 
 
(a)           to the allotment of equity securities in connection with an offer 
of such securities to holders of ordinary shares where the equity securities 
for which ordinary shares are respectively entitled to subscribe are 
proportionate (as nearly as may be) to the respective numbers of ordinary 
shares held by them, but subject to such exclusions or other arrangements as 
the directors may deem necessary or expedient in relation to fractional 
entitlements or any legal or practical problems under the laws of any overseas 
territory or the requirements of any regulatory body or stock exchange; and 
 
(b)           to the allotment (otherwise than under sub-paragraph (a) above) 
of equity securities for cash up to a total nominal value of GBP510,000; 
 
and shall expire on the date of the next annual general meeting of the Company, 
or if earlier, 15 months after the date of passing this resolution, save that 
the Company may before such expiry make an offer or agreement which would or 
might require equity securities to be allotted after such expiry and the Board 
may allot equity securities under such offer or agreement as if the power 
conferred by this resolution had not expired. 
 
7.       That the Company be generally and unconditionally authorised to make 
market purchases within the meaning of section 693(4) of Companies Act 2006 
(the Act) of its ordinary shares of 1p each in the capital of the Company 
("shares") on such terms and in such manner as the directors may from time to 
time determine, provided that: 
 
(a)           the maximum number of shares authorised to be purchased is 
7,350,000 being the number representing 15% of the issued ordinary share 
capital of the Company at the date of the meeting; 
 
(b)           the minimum price (exclusive of expenses) which may be paid per 
share is 1p (being the nominal value per share) and the maximum price which may 
be paid per share is an amount equal to 20% higher than the average of the 
middle market quotations per share as derived from the ISDX Growth Market for 
the fifteen business days immediately preceding the day on which the shares are 
purchased; 
 
(c)           the authority shall expire at the conclusion of the next annual 
general meeting of the Company; and 
 
(d)           the Company may make a contract to purchase shares under the 
authority before the expiry of the authority, and may make a purchase of shares 
under such contract even though the authority has ended. 
 
By Order of the 
Board 
Registered Office: 
Brett Miller 
                                                                            39 
Cheval Place 
Secretary 
 
London SW71EW 
Dated:         14 December 2016 
 
Notes: 
 
1.        Shareholders, their duly appointed representatives or proxies are 
entitled to attend, speak and vote at the AGM. A shareholder can appoint the 
Chairman of the meeting or anyone else as their proxy and their proxy need not 

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December 15, 2015 06:00 ET (11:00 GMT)