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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Otaq Plc | LSE:OTAQ | London | Ordinary Share | GB00BK6JQ137 | ORD 15P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.00 | 4.00 | 6.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
TIDMHERT
RNS Number : 7435T
Hertsford Capital PLC
22 March 2019
22(nd) March 2019
HERTSFORD CAPITAL PLC
("Hertsford" or "the Company")
Interim Report for the period ended 31 December 2018
Hertsford (ticker: HERT) announces its unaudited interim financial results for the period ended 31 December 2018.
Period highlights
-- On 26 November 2018, the Company was admitted to the standard segment of the Official List and to trading on the London Stock Exchange's Main Market
-- Raised GBP3 million cash (gross) through the listing of 32 million new ordinary shares
Harry Hyman, Chairman of Hertsford said: "We continue to consider a number of investment opportunities and will update the market with developments when appropriate."
For information please contact:
Hertsford Capital www.hertsford-capital.com plc Rodger Sargent via Walbrook PR Walbrook PR Ltd Tel: 020 7933 8780 or hertsford@walbrookpr.com Paul Cornelius Mob: 07866 384 707 Sam Allen Mob: 07884 664 686
CHAIRMAN'S STATEMENT
Introduction
I am pleased to present the unaudited interim results for the period ended 31(st) December 2018. Hertsford floated on to the standard listing of the official list on the London Stock Exchange on 26 November 2018. The Company was created to acquire a company or business in the technology sector.
During this interim period, Hertsford recorded a loss of GBP18,101 being the minimal running costs of the company. As the directors draw no salary, the ongoing costs are only minor administrative and listing expenses. Current assets at period end were over GBP2.8 million.
Outlook
We continue to consider a number of investment opportunities and will update the market with developments when appropriate.
Harry Hyman
Chairman
22(nd) March 2019
INTERIM STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD FROM 22 JUNE 2018 TO 31 DECEMBER 2018
Notes GBP Revenue 2 - ------------------- Gross profit - General & administrative expenses (19,301) ------------------- Loss from operations before interest (19,301) Interest income 1,200 -------------------- Loss before tax (18,101) Tax - --------------------- Retained Loss after tax for the period (18,101) ============= Retained loss attributable to: Owners of the company (18,101) ------------------- Loss for period (18,101) ============= Total comprehensive loss attributable to: Owners of the company (18,101) --------------------- Total comprehensive loss for the period (18,101) ============= Loss per share Basic and diluted 3 (0.23p) =============
INTERIM STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2018
Notes GBP ASSETS Current assets Cash and cash equivalents 2,880,814 Debtor 1,200 ----------------------- TOTAL ASSETS 2,882,014 ============ EQUITY Share capital 4 960,000 Share premium reserve 1,924,485 Retained loss (18,101) ------------------------ TOTAL EQUITY 2,866,384 ============ CURRENT LIABILITIES Trade and other payables (15,360) ---------------------- TOTAL EQUITY AND LIABILITIES 2,855,384 ============
INTERIM STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD FROM 22 JUNE 2018 TO 31 DECEMBER 2018
Share Share premium Retained Total capital account loss equity GBP GBP GBP GBP As at 22 June 2018 - - - - Loss for the period - - (18,101) (18,101) Total comprehensive - - - - income for the period -------- ------------ --------- ---------- Share capital issued (net of transaction costs) 960,000 1,924,485 - 2,884,485 Balance at 31 December 2018 960,000 1,924,485 (18,101) 2,866,384 ======== ============ ========= ==========
INTERIM STATEMENT OF CASH FLOW
FOR THE PERIOD FROM 22 JUNE 2018 TO 31 DECEMBER 2018
Cash flow from operating activities Loss for the period (18,101) ------------------------- Operating cash flows before movements in working capital (18,101) Interest income (1,200) Increase in payables 15,630 ---------------------- Net cash outflow from operating activities (3,671) Cash flow from investing activities - ------------------------ Net cash flow from investing activities - Cash flow from financing activities Net proceeds from issue of share capital 2,884,485 ------------------------ Net cash flow from financing activities 2,884,485 Net cash inflow for the period 2,880,814 ---------------------- Cash and cash equivalents at start of - period ----------------------- Cash and cash equivalents at end of period 2,880,814 ============
NOTES TO THE UNAUDITED INTERIM REPORT
FOR THE PERIODED 31 DECEMBER 2018
1. BASIS OF PREPARATION
The interim financial statements have been prepared on a going concern basis and in accordance with the recognition and measurement principles of International Financial Reporting Standards adopted for use in the European Union ("IFRS").
The interim financial statements for the period ended 31 December 2018 have not been audited and do not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006.
This Interim Financial Report was approved by the Board of Directors on 22(nd) March 2019.
Statement of compliance
These condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard ('IAS') 34 - Interim Financial Reporting as adopted by the European Union. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements.
2. ACCOUNTING POLICIES
The interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union. The interim financial statements have been prepared using the measurement bases specified by IFRS for each type of asset, liability, income and expense. The measurement bases are more fully described in the accounting policies below.
Going Concern
The directors have assessed the Company's position as at 31 December 2018 and consider it appropriate to prepare the financial statements on a going concern basis. There are cash reserves of over GBP2.8m which the directors consider sufficient to ensure that the Company will be able to continue to meet its commitments as they fall due for at least twelve months from the date of approval of this interim financial report.
Expenses
All expenses are accounted for on an accruals basis and are presented through the Statement of Comprehensive Income.
Taxation
Current taxation is the taxation currently payable on taxable profit for the period.
Trade and other receivables
Trade and other receivables are recognised and carried at original invoice value less an allowance for any uncollectible amounts. An estimate for doubtful debts is made when collection of the full amount is no longer probable. Bad debts are written off when identified.
Cash and Cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits, together with other short-term, highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value.
Trade payables
Trade payables are initially measured at fair value and are subsequently measured at amortised cost, using the effective interest rate method.
Financial instruments
The Company's financial assets comprise cash and cash equivalents.
The Company's financial liabilities comprise trade payables. Financial liabilities are obligations to pay cash or other financial assets and are recognised when the Company becomes a party to the contractual provisions of the instruments.
Equity
Equity comprises the following:
"Share capital" represents the nominal value of equity shares.
"Share premium" represents the excess over nominal value of the fair value of consideration received for equity shares, net of expenses of the share issue.
"Retained losses" represents cumulative net gains and losses recognised in the Statement of Comprehensive Income
2. TURNOVER AND SEGMENTAL ANALYSIS
All of the Company's activity and income and expenses in the period ended 31 December 2018 were incurred in the United Kingdom, and relate to Hertsford's ongoing investment activities.
3. LOSS PER SHARE
The calculation of the basis and diluted earnings per share is based on the following data:
Earnings Net loss for the period attributable to equity holders of the company (18,101) Number of shares Weighted average number of ordinary shares in issue 7,751,741
The denominator for the purpose of calculating the basic earnings per share has been adjusted to reflect all capital raisings.
4. SHARE CAPITAL Number of Nominal value Premium (net of transaction costs) shares GBP GBP a) Issued and Fully Paid: 22 June 2018 2 GBP0.03 - 23 July 2018 1,666,666 GBP50,000 - 1 November 2018 333,333 GBP10,000 - 21 November 2018 30,000,000 GBP900,000 GBP1,924,485 ----------------------------- -------------------------- -------------------------- As at 31 December 2018 32,000,001 GBP960,000 GBP1,924,485 ============== ============ ============ The nominal value of the shares is GBP0.03. During the period the Company issued share 32,000,001 Ordinary Shares for consideration of GBP3,060,000. The Company incurred share issue costs of GBP175,515 which have been deducted from the share premium account. 5. AVAILABILITY OF INTERIM RESULTS
Copies of the Interim Results for the period to 31 December 2018 are available from the Company's registered address and will be available on the Company's website, later today.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
IR SEMFFEFUSESD
(END) Dow Jones Newswires
March 22, 2019 07:22 ET (11:22 GMT)
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