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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Clean Invest Africa Plc | AQSE:CIA | Aquis Stock Exchange | Ordinary Share | GB00BF52QX07 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.045 | 0.04 | 0.06 | 0.05 | 0.045 | 0.045 | 0.00 | 15:29:32 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMCIA 02 October 2023 CLEAN INVEST AFRICA PLC ("CIA" or the "Company" or the "Group") INTERIM CONSOLIDATED FINANCIAL RESULTS FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2023 CHIEF EXECUTIVE OFFICER STATEMENT I am pleased to present the interim financial results of the Group for the period 1 January 2023 to 30 June 2023. The Group has made excellent progress in the first 6 months of the year, continuing the development of key business opportunites with the addition of some new exciting prospects, which are developing reasonably fast and will contribute to meeting the year end target. Project CLAPS ("Clean Land And Power System") in Italy has officially started on 1 August 2023, with CoalTech Limited working alongside its Italian partner ISS International S.p.A and ("CLAPS") in the development of a highly innovative solution that will be demonstrated by the mobile agglomeration plant prototype for the conversion of coal dust into pellets, as the ultimate deliverables of this initiative. The mobile test unit, fully automated, will include a fines preparation section, a transformation section into pellets and a drying section in order to obtain a final product that can be used at industrial scale as a green technology. The Group's subsidiary in South Africa, Coal Agglomeration South Africa (Pty) Ltd ("CASA"), has started regular production of pellets following the finalisation of the supply agreement with one of the leading collieries in the country. The first 250 tons of pellets, in 15kg bags, are currently distributed to the market, under the CASA trademark, Chisa'Mina. CASA is busy developing a robust supply chain that will enable reaching different areas through a network of selected distributors, that can support the next phase of the project, which will see ramping up production up to a target output of 4,000 tons per month at full production with a significant positive impact on the profitability and the cash flow of the business. CASA is also currently working on a revised proposal for the development of a dedicated ilmenite pelletising plant which is currently under negotiation with a leading mining company in South Africa Advanced discussion are also ongoing for projects in Kentucky, Poland, Indonesia and Colombia and further announcements will be made in due course as this opportunity materialises. We are pleased to report that during the first 6 months of the year, the Company has successfully raised £90,000 to support the continuing growth of the Group. Furthermore, the Company issued unsecured Convertible Loan Note amounting to £260,300. In addition to the above funding update, CIA continues its work with Reyl & Cie ("REYL"), a subsidiary of Intesa SanPaolo Group, with significant ESG commitment together with a world-class position in Social Impact and strong focus on climate business, to structure the issuance of one or several tranches of a Shariah compliant trust certificate (the "Trust Certificates" or "Sukuk"). The Company and its subsidiary, CoalTech Limited ("CoalTech") looks forward with optimism, based upon the potential of an extensive and solid pipeline of opportunities. It is worth reiterating that the strategy of CoalTech is to secure long term, large scale customer relationships with whom it would develop one or more full scale plants and with long term offtake arrangements. Securing one such customer would be transformative, with any such project likely to have a capital project value well in excess of $10 million and involve the processing of large scale fines deposit or tailings, typically over one million tonnes. Different arrangements with clients will result in ongoing revenue streams through profit share and royalty agreements for CIA. FINANCIALS The Group's interim consolidated financial results for the period 1 January 2023 to 30 June 2023 show a loss after taxation of £330,126. The financial information for the six months period ended 30 June 2023 has not been reviewed by the Company's external auditors. OUTLOOK The Directors are pleased with the progress made in this period and look forward to continuing to update shareholders on the progress of the Group and the potentially exciting prospects ahead, some of which are developing at speed. Such prospects are of course conditional upon and dependant upon the Company raising further funding. We continue to seek new investment funding and we will advise shareholders as these opportunities develop. Filippo Fantechi Chief Executive Officer 29 September 2023 The Directors of the Company accept responsibility for the content of this announcement. ENQUIRIES: Company Clean Invest Africa PLC Filippo Fantechi - Chief Executive Officer Telephone: +973 39696273 Corporate Adviser Peterhouse Capital Limited Guy Miller Telephone: +44 20 7220 9795 CLEAN INVEST AFRICA PLC CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2023 For the 6 For the months period year ended ended 30-Jun-23 31-Dec-22 (Unaudited) (Audited) £ £ Continuing operations Revenue - 29,760 Cost of sales (63,588) (129,444) Gross loss (63,588) (99,684) Other operating income - 392,759 Administrative expenses (254,743) (281,697) Operating loss (318,331) 11,378 Finance costs (11,795) (24,251) Impairment loss - (5,564) Net foreign exchange revaluation - (144,881) Loss before income tax (330,126) (163,318) Income tax - - Loss for the financial period/year (330,126) (163,318) attributable to the Company's equity shareholders Other comprehensive income Loss for the period/year (330,126) (163,318) Currency translation differences 121,952 (214,291) Total comprehensive loss for the period (208,174) (377,609) Basic and diluted loss per share (GBP) (0.0002) (0.0001) The accompanying notes form an integral part of these interim financial statements. CLEAN INVEST AFRICA PLC CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2023 As at As at 30-Jun-23 31-Dec-22 (Unaudited) (Audited) £ £ Assets Non-current assets Tangible fixed 326,735 394,113 assets Right-of-use assets 97,438 122,553 Investments 6,406 11,653 Total Non-current 430,579 528,319 assets Current assets Inventories 9,124 - Trade and other 75,552 88,877 receivables Amounts due from 3,708,595 3,894,561 related parties Cash & cash 12,706 80,222 equivalents Total current assets 3,805,977 4,063,660 Total assets 4,236,556 4,591,979 Equity and liabilities Equity attributable to the owners of the Company Share capital 4,534,658 4,534,658 Share premium 28,624,597 28,579,597 Share capital 377,294 332,294 reserve Share-based payment 3,243,556 3,243,556 Financial 715,044 746,658 liabilities Interest bearing loans and borrowings Reverse takeover (23,050,570) (23,050,570) reserve Foreign currency 146,608 24,656 translation reserve Accumulated losses (13,063,296) (12,733,170) Total equity 1,527,891 1,677,679 Liabilities Current liabilities Trade and other 2,572,728 2,550,972 payables Current portion of 8,041 8,848 lease liabilities Amounts due to 26,528 232,188 related parties Total current 2,607,297 2,792,008 liabilities Non-current liabilities Non-current portion 101,368 122,292 of lease liabilities Total non-current 101,368 122,292 liabilities Total liabilities 2,708,665 2,914,300 Total equity and 4,236,556 4,591,979 liabilities The accompanying notes form an integral part of these interim financial statements. CLEAN INVEST AFRICA PLC COMPANY STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2023 As at As at 30-Jun-23 31-Dec-22 (Unaudited) (Audited) £ £ Assets Non-current assets Investments 4,744,225 4,744,225 Current assets Trade and other receivables 5,511,669 5,417,776 Cash & cash equivalents 11,299 76,227 Total current assets 5,522,968 5,494,003 Total assets 10,267,193 10,238,228 Equity and liabilities Equity attributable to the owners of the Company Share capital 4,534,658 4,534,658 Share premium 28,624,597 28,579,597 Share capital reserve 377,294 332,294
Convertible loans 715,044 746,658 Share-based payment 3,243,556 3,243,556 Accumulated losses (27,617,928) (27,497,661) Total equity 9,877,221 9,939,102 Current liabilities Trade and other payables 389,972 299,126 Total equity and liabilities 10,267,193 10,238,228 A separate income statement for the parent entity has not been presented, as permitted by section 408 of the Companies Act 2006. The loss for the parent company for the 6 months period ended 30 June 2023 was £120,267 (2022: loss of £306,133). The accompanying notes form an integral part of these interim financial statements. CLEAN INVEST AFRICA PLC CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDING 30 JUNE 2023 Share Share Share Warrant Reverse Financial Foreign Accumulated Total capital premium capital reserve takeover liabilities currency losses Equity reserve reserve translation reserve As at 1 January 2022 3,000,526 24,990,187 332,294 3,243,556 (23,050,570) 215,000 238,947 (12,569,852) (3,599,912) Transactions with owners, recorded directly in equity: Shares issued during 1,534,132 3,589,410 - - - - - - 5,123,542 the year Financial liabilities - - - - 531,658 - - 531,658 Interest bearing loans and borrowings Total comprehensive - - - - - - (214,291) (163,318) (377,609) loss As at 31 December 4,534,658 28,579,597 332,294 3,243,556 (23,050,570) 746,658 24,656 (12,733,170) 1,677,679 2022 Transactions with owners, recorded directly in equity: Shares to be issued 45,000 45,000 - - - - - 90,000 during the period Financial liabilities - - - - (31,614) - (31,614) Interest bearing loans and borrowings, net Total comprehensive - - - - - - 121,952 (330,126) (208,174) loss As at 30 June 2023 4,534,658 28,624,597 377,294 3,243,556 (23,050,570) 715,044 146,608 (13,063,296) 1,527,891 The accompanying notes form an integral part of these interim financial statements. CLEAN INVEST AFRICA PLC COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDING 30 JUNE 2023 Share Share Share Convertible Warrant Accumulated Total capital premium capital loans reserve losses Equity reserve As at 1 3,000,526 24,990,187 332,294 215,000 3,243,556 (27,191,528) 4,590,035 January 2022 Shares issued 1,534,132 3,589,410 - - - - 5,123,542 during the year Financial - - - 531,658 - - 531,658 liabilities Interest bearing loans and borrowings Total - - - - - (306,133) (306,133) comprehensive income/(loss) As at 31 4,534,658 28,579,597 332,294 746,658 3,243,556 (27,497,661) 9,939,102 December 2022 Shares to be - 45,000 45,000 - - - 90,000 issued during the period Financial - - - (31,614) - - (31,614) liabilities Interest bearing loans and borrowings Total - - - - - (120,267) (120,267) comprehensive income/(loss) Balance as at 4,534,658 28,624,597 377,294 715,044 3,243,556 (27,617,928) 9,877,221 30 June 2023 The accompanying notes form an integral part of these interim financial statements. CLEAN INVEST AFRICA PLC NOTES TO THE FINANCIAL STATEMENTS FOR THE SIX MONTHS PERIOD ENDED 30 JUNE 2023 1. Company information Clean Invest Africa plc (the "Company") is a public limited company which is listed on the Aquis Stock Exchange Growth Market and is incorporated and domiciled in the United Kingdom. The consolidated entity (the "Group") consists of the Company and the entities it controlled at the end of the six months period ended 30 June 2023. Principal activity The Company's primary strategy is to identify investment opportunities and acquisitions in clean energy projects/companies or alternative technologies that are used in a socially and environmentally responsible way on a global basis, with the intention of building a diversified portfolio of assets. The subsidiaries of the Company, CoalTech Limited ("CoalTech"), a company registered in the United Kingdom with registered number 11368750, and Coal Agglomeration South Africa (Pty) Ltd. ("CASA"), a company registered in South Africa with registered number 2015/439393/07 and CoalTech's subsidiary Coal Tech LLC, a company registered in the United States of America with registered number 5685936 (collectively referred as "CoalTech Group"), are primarily engaged in agglomerating coal fines waste (coal dust) into coal pellets through the commercialization of the Group's proprietary binding technology. 2. Basis of preparation The interim consolidated financial statements of the Group and the interim financial statements of the Company (the "interim financial statements") have been prepared in accordance with International Financial Reporting Standards (IFRS) and IFRIC interpretations (IFRS IC) as adopted by the European Union and the Companies Act 2006 applicable to companies reporting under IFRS. The interim financial statements are for the six months period ended 30 June 2023 and are presented in Sterling (£) which is the Company's presentation currency. The financial information for the six months period ended 30 June 2023 have not been reviewed by the Company's external auditors or audited. The interim consolidated financial statements of the Group and the interim financial statements of the Company have been prepared using going concern assumption under the historical cost convention. The Directors believe the Group has or has access to sufficient funds to continue as a going concern for at least 12 months from the end of the reporting period. 3. Dividend No dividends will be distributed for the six-month period ended 30 June 2023. 4. Earnings per share Basic and diluted For the 6 months For the year period ended 30 June ended 31 December 2023 2022 (Unaudited) (Audited) Total loss from (£330,126) (£163,318) continuing operations attributable to equity holders of the Company Weighted average 1,813,863,402 1,640,154,968 number of ordinary shares in issue Basic earnings per (0.02p) (0.01p) share from continuing operations 5. Events after the reporting period There were no significant events subsequent to 30 June 2023 and occurring before the date of signing of the interim financial statements that would have a significant impact on these annual financial statements. This information was brought to you by Cision http://news.cision.com END
(END) Dow Jones Newswires
October 02, 2023 02:00 ET (06:00 GMT)
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