We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Vertu Capital Limited | LSE:VCBC | London | Ordinary Share | KYG9341F1081 | ORD GBP0.01 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.30 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMVCBC
RNS Number : 1777Q
Vertu Capital Limited
08 September 2017
VERTU CAPITAL LIMITED
DIRECTOR'S STATEMENT
FOR THE SIX MONTHSED 30 JUNE 2017
I have pleasure in presenting the condensed financial statements of Vertu Capital Limited (the "Company" or "Vertu") for the period from 1 January 2017 to 30 June 2017.
During the financial period, the Company reported a net loss of GBP58,362 (0.06p per share). As at 30 June 2017, the Company had cash in bank balance of GBP509,677.
As reported earlier in 2016, the Company had entered into a non-binding letter of intent for the proposed acquisition of the entire issued share capital of VCB Malaysia Berhad, a company incorporated in Malaysia, for consideration of GBP350,000 payable in cash on completion. The proposed acquisition is conditional, inter alia, on satisfactory due diligence, shareholder approvals, execution of the transaction and subsequent re-admission of the Company to trading on the Main Market of the London Stock Exchange on completion. While discussions regarding the proposed acquisition continue with UK Listing Authority ('UKLA'), there can be no certainty that any transaction will occur. Should the proposed transaction be complete it would constitute a reverse takeover requiring compliance with the relevant provisions in the Listing Rules.
The Board looks forward to receiving feedback for approval from the UKLA for the said acquisition and will provide further updates to the shareholders in due course.
Responsibility Statement
The Directors are responsible for preparing the Condensed Financial Statements in accordance with the Disclosure and Transparency Rules of the United Kingdom's Financial Conduct Authority ('DTR') and with International Accounting Standard 34 on Interim Financial Reporting (IAS 34).
The Directors confirm that, to the best of their knowledge, this condensed consolidated interim report has been prepared in accordance with IAS 34 as adopted by the European Union. The interim report includes a fair review of the information required by DTR 4.2.7 and DTR 4.2.8, namely:
-- an indication of important events that have occurred during the first six months and their impact on the condensed set of financial statements, and a description of the principal risks and uncertainties for the remaining six months of the financial year; and
-- material related-party transactions in the first six months and any material changes in the related-party transactions described in the last annual report.
Kiat Wai Du
Non-Executive Chairman
8 September, 2017
CONDENSED STATEMENT OF COMPREHESIVE INCOME
FOR THE SIX MONTHSED 30 JUNE 2017
Hot Features
Premium
6 months 6 months
period period
ended ended
30 June 30 June
2017 2016
Notes GBP GBP
(Unaudited) (Unaudited)
INCOME - -
------------ ------------
Operating expenses (58,362) (118,855)
------------ ------------
OPERATING LOSS/LOSS BEFORE
TAXATION (58,362) (118,885)
Income tax expense 3 - -
------------ ------------
LOSS FOR THE PERIOD ATTRIBUTABLE
TO EQUITY HOLDERS OF THE
COMPANY (58,362) (118,885)
OTHER COMPREHENSIVE INCOME
Other comprehensive income - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD (58,362) (118,885)
Basic and diluted loss (0.06) (0.12)
per share (pence) 4 p p
============ ============
CONDENSED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2017
As at As at As at
30 June 30 June 31 December
2017 2016 2016
Notes GBP GBP GBP
(Unaudited) (Unaudited) (Audited)
CURRENT ASSETS
Prepayments - - 6,068
Cash and cash equivalents 509,677 687,453 553,035
------------
509,677 687,453 559,103
CURRENT LIABILITIES
Other payables 38,634 78,339 47,198
Amount owing to directors 17,500 - -
------------ ------------ -------------
56,134 78,339 511,905
------------ ------------ -------------
NET ASSETS 453,543 609,114 511,905
============ ============ =============
EQUITY ATTRIBUTABLE
TO EQUITY HOLDERS
OF THE COMPANY
Stated capital 5 1,000,000 1,000,000 1,000,000
Retained earnings (546,467) (390,886) (488,095)
------------ -------------
TOTAL EQUITY 453,543 609,114 511,905
============ ============ =============
CONDENSED STATEMENT OF CASH FLOWS
FOR THE SIX MONTHSED 30 JUNE 2017
6 months 6 months
period period
ended ended
30 June 30 June
2017 2016
Notes GBP GBP
(Unaudited) (Unaudited)
Cash flow from operating
activities
Operating loss (58,362) (118,885)
------------ ------------
Changes in working capital
Other receivables 6,068 6,349
Other payables (8,564) 34,747
Amount owing to directors 17,500 (23,043)
------------ ------------
15,004 18,053
------------ ------------
Net cash flow from operating
activities (43,358) (100,832)
------------ ------------
Cash flow from financing
activities
Issue of share capital - -
------------ ------------
Net cash flow from financing - -
activities
Net increase in cash and
cash equivalents (43,358) (100,832)
Cash and cash equivalents
at beginning of period 553,035 788,285
------------ ------------
Cash and cash equivalents
at end of period 509,677 687,453
============ ============
STATEMENT OF CHANGES IN EQUITY (UNAUDITED)
FOR THE SIX MONTHSED 30 JUNE 2017
Period from 1 January 2017 to 30 June 2017 (unaudited)
Stated Retained Total
capital earnings
GBP GBP GBP
As at 1 January 2017 1,000,000 (488,095) 511,905
Loss for the period (58,362) (58,362)
---------- ---------- ---------
Total comprehensive
loss for the period (58,362) (58,362)
---------- ---------- ---------
As at 30 June 2017 1,000,000 (546,457) 453,543
========== ========== =========
Period from 1 January 2016 to 30 June 2016 (unaudited)
Share Retained Total
capital earnings
GBP GBP GBP
As at 1 January 2016 1,000,000 (272,001) 727,999
Loss for the period (118,885) (118,885)
---------- ---------- ----------
Total comprehensive
loss for the period (118,885) (118,885)
---------- ---------- ----------
As at 30 June 2016 1,000,000 (390,886) 609,114
========== ========== ==========
For the year ended 31 December 2016 (audited)
Stated Retained Total
capital earnings
GBP GBP GBP
As at 1 January 2016 1,000,000 (272,001) 727,999
---------- ---------- ----------
Loss for the period (216,094) (216,094)
---------- ---------- ----------
Total comprehensive
loss for the period (216,094) (216,094)
---------- ---------- ----------
As at 31 December 2016 1,000,000 (488,095) 511,905
========== ========== ==========
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
1. GENERAL INFORMATION
The Company was incorporated in the Cayman Islands on 12 September 2014 as an exempted company with limited liability under the Companies Law. The registered office of the Company is at the offices of Offshore Incorporations (Cayman) Limited, Floor 4, Willow House, Cricket Square, PO Box 2804, Grand Cayman KY1-1112, Cayman Islands.
The Company's Ordinary shares are currently admitted to a standard listing on the Official List and to trading on the London Stock Exchange.
The Company's nature of operations is to act as a special purpose acquisition company.
2. ACCOUNTING POLICIES
Basis of preparation
The condensed interim financial information for the six month period ended 30 June 2017 has been prepared in accordance with IAS 34 Interim Financial Reporting. It is unaudited and does not constitute statutory financial statements. The comparative interim financial information covers the period ended 30 June 2016.
The condensed interim financial information has been prepared on a basis consistent with, and on the basis of, the accounting policies set out in the audited financial statements of the Company for the year ended 31 December 2016, which have been prepared in accordance with IFRSs as adopted by the European Union.
The condensed interim financial information is presented in British Pound Sterling ("GBP").
Going concern
The condensed interim financial statements have been prepared on a going concern basis, which assumes that the Company will continue to be able to meet its liabilities as they fall due for the foreseeable future
3. INCOME TAX EXPENSE
The Company is regarded as resident for the tax purposes in Cayman Islands.
No tax is applicable to the Company for the period ended 30 June 2017. As a consequence no tax charge arise and no deferred income tax asset has been recognised in respect of losses.
4. LOSS PER SHARE
Basic loss per ordinary share is calculated by dividing the loss attributable to equity holders of the company by the weighted average number of ordinary shares in issue during the period. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. There are currently no dilutive potential ordinary shares.
Loss per share attributed to ordinary shareholders
6 months 6 months
period period
ended ended
30 June 30 June
2017 2016
Loss for the year (GBP) (58,362) (118,885)
Weighted average number
of shares (Unit) 100,000,000 100,000,000
Loss per share (Pence) (0.06)p (0.12)p
5. STATED CAPITAL & RESERVES
As at As at
30 June 30 June
2017 2016
GBP GBP
Allotted, called up and
fully paid
100,000,000 Ordinary shares
of GBP0.01 each 1,000,000 1,000,000
6. DIRECTORS EMOLUMENTS
During the period to 30 June 2017 there were no staff costs as no staff were employed by the Company, other than the directors. Aggregate directors' fees for the period were GBP17,500.
7. RELATED PARTY TRANSACTIONS
Key management are considered to be the directors, whose emoluments are disclosed in note 6.
During the period the Company did not enter into any material transactions with related parties.
As at As at
30 June 2017 30 June
2016
GBP GBP
Amount due to directors 17,500 -
8. SEASONAL OR CYCLICAL FACTORS
There are no seasonal factors that materially affect the operations of any company in the Group.
9. SUBSEQUENT EVENTS
There are no subsequent events requiring disclosure in these financial statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR SSUSDAFWSEDU
(END) Dow Jones Newswires
September 08, 2017 02:00 ET (06:00 GMT)
1 Year Vertu Capital Chart |
1 Month Vertu Capital Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
