We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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% | 0.095 | 0.07 | 0.12 | 0.095 | 0.095 | 0.095 | 0.00 | 06:55:38 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMCIA CLEAN INVEST AFRICA PLC ("Clean Invest Africa", the "Group" or the "Company") AUDITED RESULTS FOR THE FINANCIAL YEARED 31 DECEMBER 2021 REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS Principal activity The Group'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 subsidiaries Coal Tech LLC, a company registered in the United States of America with registered number 5685936, Coaltech S. à r.l., a company registered in Grand Duchy of Luxembourg with registered number B238812, and associates CoalTech Poland Sp. z o.o., a company registered in the Republic of Poland with registered number 0000719690 and CoalTech Far East Pte. Ltd., a company registered in the Republic of Singapore with registration number 202120135R (collectively referred as "CoalTech Group"), are primarily engaged in agglomerating coal fines waste (coal dust) into coal pellets through the commercialisation of the Group's proprietary binding technology. Review of business and future developments The Group's subsidiary in South Africa, CASA, is preparing to start full commercial production activity at the Bulpan plant in quarter 3 of 2022. This may have a significant positive impact on the profitability and the cash flow of the business. The Directors are pleased to report that on 3 February 2022, the Company has successfully raised additional £100,000 to support the continuing growth of the Group. A total of 20,000,000 ordinary shares of 0.25p nominal value each have been placed with investors at 0.5p per share. For every two Placing Share issued, one warrant was granted, exercisable at 1.5p, valid for a period of three (3) years from the date of admission of the Placing Shares to the AQSE Growth Market. Further, should the placees validly exercise the 1.5p warrants in full, these will be replaced by a further one warrant, exercisable at 3p, for every two Placing Shares, valid for three years from grant. The shares were issued on 8 February 2022. On 11 March 2022, the Company has successfully raised an additional £100,000 to support the continuing growth of the Group. A total of 20,000,000 ordinary shares of 0.25p nominal value each have been placed with investors at 0.5p per share. For every two Placing Share issued, one warrant was granted, exercisable at 1.5p, valid for a period of three (3) years from the date of admission of the Placing Shares to the AQSE Growth Market. Further, should the placees validly exercise the 1.5p warrants in full, these will be replaced by a further one warrant, exercisable at 3p, for every two Placing Shares, valid for three years from grant. The shares were issued on 18 March 2022. The financial results of the Group for the year ended 31 December 2021 show a loss after taxation of £1,157,655 (2020: loss of £1,168,834) while the Company's financial results for the year ended show a loss after taxation of £ 298,061 (2020: loss of £279,566). Since re-admission to AQSE Growth Market and further to the SPA, the Company currently owns 100% of CoalTech and 75% of CASA. The final tranche of the Consideration Shares of 13,291,745 Ordinary Shares in respect of CASA are ready to be issued to the remaining South African Resident Sellers once the necessary approvals from the South African Reserve Bank ("SARB") have been granted. This would finally mark the formal closure of this transaction. On 30 March 2022, the Company and Contax Partners Inc. (beneficially owned by Filippo Fantechi) and Shaikh Mohamed Abdulla Khalifa AlKhalifa, (together the Lenders) ("Directors") agreed to settle the Facility Agreement as set out in paragraph 8.13, Part VI of its Admission Document dated 14 June 2019. As at 31 December 2018, the Company had a loan facility agreement with the Lenders with an outstanding balance of US$5,758,598 and it was provided that the balance would increase by any further amounts that are advanced to CoalTech, as agreed by the parties. As at 31 December 2021, the final balance has increased to US$6,847,324 or approximately £5,231,238. The Company and the Lenders have agreed that the balance outstanding be renegotiated to a total amount of £ 5,000,000 and that all debt currently owed to the Lenders be fully and immediately settled by the issuance of a convertible loan note ("CLN"), with a zero percent coupon for a 5-year term and repayable only in Ordinary shares of the Company at a price of 1p per share. Further, the CLN comprises an amount of £2,718,342 for Contax Partners Inc and £2,281,658 for Shaikh Mohamed Abdulla Khalifa AlKhalifa. Either of the Lenders can request an immediate conversion, subject only to them not impacting the waiver granted by the Takeover Panel, approved by Shareholders at the General Meeting held on 4 July 2019 (further details of which are set out in paragraph 15 of Part I of the Admission Document). The waiver waives the obligations on the Concert Party or any member thereof to make a general offer under Rule 9 of the Takeover Code which may arise because of the transaction contemplated by the Admission Document. All conversion shares issued under the CLN shall be subject to a 12-month lock-in period and thereafter to an orderly market agreement for a further period of 12 months. Contax Partners notified the immediate conversion of all of their CLN, on 31 March 2022, in an amount of £ 2,718,342 and accordingly the Company issued 271,834,235 new Ordinary Shares to Contax Partners Inc. The Contax Partners CLN terminated on the issue of these new Ordinary Shares on 8 April 2022. Shaikh Mohamed Abdulla Khalifa AlKhalifa notified the immediate conversion of an amount of £1,750,000, on 31 March 2022, and accordingly the Company issued 175,000,000 new Ordinary Shares to Shaikh Mohamed Abdulla Khalifa AlKhalifa. After conversion to Shaikh Mohamed Abdulla Khalifa AlKhalifa on 8 April 2022, the CLN remains at £531,658 or equivalent to 53,165,765 new Ordinary Shares. The outbreak of the Corona Virus (COVID-19) in early 2020 and the ongoing effects of the virus, have had a negative effect on the development and, possibly, finalisation of the various initiatives which were reported during 2021 (as on all businesses worldwide) due to the various emergency measures implemented by each country. In particular, the COVID-19 pandemic has impacted the Group's progress on business opportunities in India, Australia, Colombia and Italy, as well as obviously South Africa where the Group's subsidiary, CASA, is operating. The operation of the Group's subsidiary, CASA, mainly taking place at the Bulpan facility in Mpumalanga, South Africa, during the year was also affected causing delays in the various test work programs and commercial production projects that had been planned. Outlook The Directors are pleased with the progress made in this initial period, notwithstanding to the continuous impacts on the Group's business of the COVID-19 pandemic and look forward to continuing to update shareholders on the progress of the Group and the exciting prospects ahead, some of which are developing reasonably fast. We continue to seek new investment opportunities and will advise shareholders as they come to fruition. The Directors do not recommend the payment of a dividend for the period to 31 December 2021. The Directors of the Company accept responsibility for the contents of this announcement. -S - Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement. ENQUIRIES : Clean Invest Africa plc Filippo Fantechi (Executive Director) +973 3969 6273 Shaikh Mohamed Abdulla Khalifa AlKhalifa (Non-Executive Chairman) +973 3969 2299 Peterhouse Capital Limited Corporate Adviser +44 20 7469 0930 Guy Miller/Mark Anwyl Consolidated Statement of Profit or Loss for the year ended 31 December 2021 2021 2020 £ £ CONTINUING OPERATIONS Revenue 68,602 444 Cost of sales (251,562) - GROSS (LOSS)/PROFIT (182,960) 444 Other operating income 2,409 869 Fair value of share options and warrants - (21,374) Operating costs (867,892) (1,105,496) Foreign exchange revaluation on amounts due to a (92,773) (32,256) related party OPERATING LOSS (1,141,216) (1,157,813) Finance costs (16,439) (11,025) Finance income - 4 LOSS BEFORE INCOME TAX (1,157,655) (1,168,834) Income tax - - LOSS FOR THE YEAR (1,157,655) (1,168,834) Loss attributable to: Owners of the parent (1,157,655) (1,168,834) Earnings per share expressed in pence per share:
Basic and diluted (0.10) (0.10) Clean Invest Africa Plc (Registered number: 10967142) Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2021 2021 2020 £ £ LOSS FOR THE YEAR (1,157,655) (1,168,834) OTHER COMPREHENSIVE INCOME Currency translation differences 64,358 91,548 TOTAL COMPREHENSIVE INCOME FOR THE YEAR (1,093,297) (1,077,286) Total comprehensive income attributable to: Owners of the parent (1,093,297) (1,077,286) Consolidated Statement of Financial Position 31 December 2021 2021 2020 £ £ ASSETS NON-CURRENT ASSETS Right-of-use assets 25,230 20,966 Property, plant and equipment 409,498 477,044 Investments 11,653 5,247 446,381 503,257 CURRENT ASSETS Inventories 7,120 7,679 Trade and other receivables 3,575,497 3,517,327 Cash and cash equivalents 31,253 13,864 3,613,870 3,538,870 TOTAL ASSETS 4,060,251 4,042,127 EQUITY SHAREHOLDERS' EQUITY Called up share capital 3,000,526 2,949,388 Share premium 24,990,187 24,938,863 Shares to be issued 332,294 332,294 Convertible loans 215,000 155,000 Share-based payment reserve 3,243,556 3,243,556 Currency translation reserve 238,947 174,589 Reserve takeover reserve (23,050,570) (23,050,570) Accumulated losses (12,569,852) (11,412,197) TOTAL EQUITY (3,599,912) (2,669,077) LIABILITIES NON-CURRENT LIABILITIES Lease liabilities 12,765 17,269 CURRENT LIABILITIES Trade and other payables 7,630,790 6,685,967 Lease liabilities 16,608 7,968 7,647,398 6,693,935 TOTAL LIABILITIES 7,660,163 6,711,204 TOTAL EQUITY AND LIABILITIES 4,060,251 4,042,127 .................................................... F Fantechi - Director The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2022 and were signed on its behalf by: Company Statement of Financial Position 31 December 2021 2021 2020 £ £ ASSETS NON-CURRENT ASSETS Investments 4,744,225 4,744,225 4,744,225 4,744,225 CURRENT ASSETS Trade and other receivables 246,292 235,714 Cash and cash equivalents 14,068 1,496 260,360 237,210 TOTAL ASSETS 5,004,585 4,981,435 EQUITY SHAREHOLDERS' EQUITY Called up share capital 3,000,526 2,949,388 Share premium 24,990,187 24,938,863 Shares to be issued 332,294 332,294 Convertible loans 215,000 155,000 Share-based payment reserve 3,243,556 3,243,556 Accumulated losses (27,191,528) (26,893,467) TOTAL EQUITY 4,590,035 4,725,634 LIABILITIES CURRENT LIABILITIES Trade and other payables 414,550 255,801 TOTAL LIABILITIES 414,550 255,801 TOTAL EQUITY AND LIABILITIES 5,004,585 4,981,435 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 year was £298,061 (2020: loss of £279,566). The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2022 and were signed on its behalf by: .................................................... F Fantechi Director Clean Invest Africa Plc (Registered number: 10967142) Consolidated Statement of Changes in Equity for the year ended 31 December 2021 GBP Share Share Shares to Convertible Share-based Reverse Currency Accumulated Total capital premium be issued loans payment takeover Translation losses equity reserve reserve reserve 1 January 2021 2,949,388 24,938,863 332,294 155,000 3,243,556 (23,050,570) 174,589 (11,412,197) (2,669,077) Loss for the year - - - - - - - (1,157,655) (1,157,655) Other comprehensive income: Currency translation - - - - - 64,358 - 64,358 differences - Total comprehensive - - - - - - 64,358 (1,157,655) (1,093,297) income Shares issued during the 51,138 51,324 - - - - - 102,462 year - Interest bearing loans - - - 60,000 - - - - 60,000 and borrowings during the year Total transactions with 51,138 51,324 - 60,000 - - - - 162,462 owners recognised in equity 31 December 2021 3,000,526 24,990,187 332,294 215,000 3,243,556 (23,050,570) 238,947 (12,569,852) (3,599,912) Consolidated Statement of Changes in Equity for the year ended 31 December 2021 GBP Share Share Shares Convertible Share-based Reverse Currency Accumulated Total capital premium to be loans payment takeover translation losses equity issued reserve reserve reserve 1 January 2,844,413 24,623,938 332,294 134,388 3,222,182 (23,050,570) 83,041 (10,243,363) (2,053,677) 2020 Loss for the - - - - - - - (1,168,834) (1,168,834) year Other comprehensive income: Currency - - - - - 91,548 - 91,548 translation - differences Total - - - - - - 91,548 (1,168,834) (1,077,286) comprehensive income Shares issued 104,975 314,925 - - - - - 419,900 during the - year Share-based - - - - 21,374 - - - 21,374 payment Interest - - - 20,612 - - - - 20,612 bearing loans and borrowings during the year Total 104,975 314,925 - 20,612 21,374 - - - 461,886 transactions with owners recognised in equity 31 December 2,949,388 24,938,863 332,294 155,000 3,243,556 (23,050,570) 174,589 (11,412,197) (2,669,077) 2020 Company Statement of Changes in Equity for the year ended 31 December 2021 GBP Share Share Shares Convertible Share-based Accumulated Total capital premium to be loans payment losses equity issued reserve 1 January 2021 2,949,388 24,938,863 332,294 155,000 3,243,556 (26,893,467) 4,725,634 Loss for the - - - - - (298,061) (298,061) year Other - - - - - - comprehensive - income Total - - - - - (298,061) (298,061) comprehensive income
Interest bearing - - - 60,000 - - 60,000 loans and borrowings Shares issued by 51,138 51,324 - - - 102,462 the Company - during the year Total 51,138 51,324 - 60,000 - - 162,462 transactions with owners recognised in equity 31 December 2021 3,000,526 24,990,187 332,294 215,000 3,243,556 (27,191,528) 4,590,035 1 January 2020 2,844,413 24,623,938 332,294 134,388 3,222,182 (26,613,901) 4,543,314 Loss for the - - - - - (279,566) (279,566) year Other - - - - - - comprehensive - income Total - - - - - (279,566) (279,566) comprehensive income Interest bearing - - - 20,612 - - 20,612 loans and borrowings Shares issued by 104,975 314,925 - - - 419,900 the Company - during the year Share-based - - - - 21,374 - 21,374 payment Total 104,975 314,925 - 20,612 21,374 - 461,886 transactions with owners recognised in equity 31 December 2020 2,949,388 24,938,863 332,294 155,000 3,243,556 (26,893,467) 4,725,634 Consolidated Statement of Cash Flows for the year ended 31 December 2021 2021 2020 £ £ Cash flows from operating activities Cash generated from operations (190,903) (276,198) Exchange gains 64,802 25,803 Finance costs (17,088) (2,737) Net cash outflow from operating activities (143,189) (253,132) Cash flows from investing activities Purchase of property, plant and equipment - (8,488) Interest received - 4 Net cash outflow from investing activities - (8,484) Cash flows from financing activities Payment of lease liabilities (11,031) (6,259) Proceeds from issue of shares 102,462 150,000 Funding received from related parties 69,147 157,923 Payment of related party borrowings - (39,415) Net cash inflow from financing activities 160,578 262,249 Increase in cash and cash equivalents 17,389 633 Cash and cash equivalents at beginning of year 13,864 13,231 Cash and cash equivalents at end of year 31,253 13,864 Company Statement of Cash Flows for the year ended 31 December 2021 2021 2020 £ £ Cash flows from operating activities Cash used in operations (76,083) (154,512) Interest paid (13,807) - Net cash from operating activities (89,890) (154,512) Cash flows from investing activities Interest received - 4 Net cash from investing activities - 4 Cash flows from financing activities Share issue 102,462 150,000 Net cash from financing activities 102,462 150,000 Increase/(decrease) in cash and cash equivalents 12,572 (4,508) Cash and cash equivalents at beginning of year 1,496 6,004 Cash and cash equivalents at end of year 14,068 1,496 END
(END) Dow Jones Newswires
June 30, 2022 11:30 ET (15:30 GMT)
1 Year Clean Invest Africa Chart |
1 Month Clean Invest Africa 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