Igraine Plc Interim Results for the Half-Year to 30 June 2023

 
TIDMKING 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulation 
(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) 
Regulations 2019. Upon the publication of this announcement via a regulatory 
information service, this inside information is now considered to be in the 
public domain. 
 
29 September 2022 
 
Igraine Plc 
 
("Igraine" or "the Company") 
 
Interim Results for the Half-Year to 30 June 2023 
 
Igraine plc, Directors Statement, 
 
We are pleased to present the interim results for Igraine plc (AQUIS: KING) for 
the period ending 30 June 2023. This reporting period has unfolded in a 
challenging economic environment, but we are encouraged by the positive 
developments in our ongoing discussions and commercialisation efforts. 
 
Despite the economic headwinds, our maiden investment with Excalibur Medicines 
Ltd ("EML") continues to progress positively. Igraine owns a 2% interest in EML 
that was awarded the exclusive commercial rights to and owns the patents on a 
drug, AZD1656, which is being developed as a potential therapeutic for diabetics 
suffering from COVID-19. The Excalibur team is actively engaged in 
commercialisation discussions, with a preference for a potential trade sale. The 
Company will update the market in due course. 
 
Additionally, recognising the volatility in global financial markets, we remain 
vigilant and proactive. We are actively exploring opportunities with businesses 
that offer fundamentally strong value propositions. 
 
The interim financial results have not been reviewed by the Company's auditor. 
 
On behalf of the Board 
 
Steve Winfield 
 
Executive Director 
 
INTERIM INCOME STATEMENT (UNAUDITED) 
 
For the period ended 30 June 2023 
 
                                           Igraine plc 
                                      6 mths to    6 mths to 
                                        30 June      30 June 
                                           2023         2022 
                                          £ GBP        £ GBP 
 
Revenue                                       -            - 
Cost of Sales                                 -            - 
 
Gross Profit/(Loss)                           -            - 
 
Other Operating Income                        -            - 
Loss on revaluation of investments     (43,049)            - 
Administrative Expenses                (82,020)    (128,223) 
 
Loss before Investment Activities     (125,069)    (128,223) 
 
Interest income                           2,479            - 
 
(Loss) before Amortisation of         (122,590)    (128,223) 
Preference Shares 
 
Profit/(Loss) before Taxation         (122,590)    (128,223) 
 
Taxation Expense                              -            - 
 
Total Comprehensive Income            (122,590)    (128,223) 
attributable to Equity Holders of 
the Company 
 
 
 
 
 
STATEMENTS OF FINANCIAL POSITION (UNAUDITED) 
 
As at 30 June 2023 
 
                                     Igraine plc 
                                  As at                          As at 
                                30 June                        30 June 
                                   2023                           2022 
                                  £ GBP                          £ GBP 
 
Assets 
Non-current 
assets 
Property,                             -                          2,089 
plant and 
equipment 
Investments                     818,013                        615,113 
                                818,013                        617,202 
 
Current assets 
Trade and                       118,625                        148,302 
other 
receivables 
Cash and cash                   226,174                        765,723 
equivalents 
                                344,799                        914,025 
 
Total assets                  1,162,812                      1,531,227 
 
Equity and 
liabilities 
Equity 
Issued share                    588,785                        588,785 
capital 
Share Premium                 1,946,995                      1,946,995 
Other reserves                   46,116                         46,116 
Retained                    (1,640,657)                    (1,300,926) 
earnings 
                                941,239                      1,280,970 
Non current 
liabilities 
Loans and                        24,946                         43,788 
borrowings 
 
Current 
liabilities 
Trade and                       196,627                        206,469 
other payables 
 
Total                           221,573                        250,257 
liabilities 
 
Total equity                  1,162,812                      1,531,227 
and 
liabilities 
 
THE DIRECTORS OF THE COMPANY TAKE RESPONSIBILITY FOR THE CONTENTS OF THIS 
ANNOUNCEMENT 
 
Enquiries 
 
Company: 
 
Simon Grant-Rennick (Executive Director) 
 
Steve Winfield (Executive Director) 
 
Aquis Growth Market Corporate Adviser 
 
Peterhouse Capital Limited 
 
Guy Miller / Mark Anwyl 
 
Tel: [phone] 
 
 
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END 
 
 

(END) Dow Jones Newswires

September 29, 2023 02:00 ET (06:00 GMT)