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Share Name Share Symbol Market Type Share ISIN Share Description
Codex Acquisitions Plc LSE:CODX London Ordinary Share GB00BNVRHQ51 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 12.50 10.00 15.00 12.50 12.50 12.50 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial - - - - 1

Codex Acquisitions PLC Half-year Report

03/10/2022 7:00am

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TIDMCODX

RNS Number : 4558B

Codex Acquisitions PLC

03 October 2022

3 October 2022

Codex Acquisitions plc

(the " Company ")

Unaudited interim results for the period from 11 October 2021 to 30 June 2022

Codex Acquisitions plc (LON:CODX) announces its unaudited interim results for the period from the date of incorporation on 11 October 2021 to 30 June 2022.

- Ends -

For further information please contact:

 
 Codex Acquisitions plc    Julio Perez 
                            +44 (0)20 8682 0582 
 

About Codex Acquisitions plc

Codex Acquisitions plc is a special purpose acquisition company (SPAC) seeking suitable acquisition targets in the clean and renewable energy sector.

Codex Acquisitions plc is actively seeking to partner with sector-leading companies in the renewable energy sector, and believes that renewable energy investments is an asset class where it is possible to achieve attractive long-term investment yield whilst making a major contribution to lower global carbon emissions.

Codex Acquisitions plc is seeking to deliver not only financial performance, but a positive contribution to society, benefitting all stakeholders and fostering long-term sustainable growth. Environmental Social and Governance (ESG) considerations are important factors that will guide the Company when selecting possible investment opportunities.

The Company is supported by its financial adviser, Codex Capital Partners Limited.

For further information on the Company, please visit www.codexplc.com , with the Company's Prospectus to be found at http://www.codexplc.com/investors-2 .

Forward-looking statements

Certain statements in this announcement constitute "forward-looking statements". Forward-looking statements include statements concerning the plans, objectives, goals, strategies and future operations and performance of the Company and the assumptions underlying these forward-looking statements. The Company uses the words "anticipates", "estimates", "expects", "believes", "intends", "plans", "may", "will", "should", and any similar expressions to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the Company's actual results, performances or achievements to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Company is not obliged, and does not intend, to update or to revise any forward-looking statements, whether as a result of new information, future events or otherwise except to the extent required by any applicable law or regulation. All subsequent written or oral forward-looking statements attributable to the Company, or persons acting on behalf of the Company, are expressly qualified in their entirety by the cautionary statements contained throughout this announcement. As a result of these risks, uncertainties and assumptions, a prospective investor should not place undue reliance on these forward-looking statements.

CHAIRMAN'S STATEMENT

I am pleased to announce the Company's interim results for the period from the date of incorporation on 11 October 2021 to 30 June 2022.

Financial review

The Company incurred a loss of GBP206,000 in the period. The majority of this comprises the expenditure relating to the admission of the Company's entire share capital to listing on the standard segment of the Official List of the Financial Conduct Authority (a "Standard Listing") and to trading on the main market for listed securities of London Stock Exchange plc ("Main Market") on 9 March 2022.

The Company had a cash position of GBP654,000 as at 30 June 2022. The Company had a basic loss per share of 2p.

Outlook

The Company's near-term goal remains focused on evaluating opportunities to acquire and to ultimately undertake one or more acquisitions in the clean and renewable energy sector.

On behalf of the board of directors of the Company (the "Board" or "Directors"), I would like to take this opportunity to thank our staff and advisers for their hard work as well as our shareholders for their continued support.

We look forward to updating shareholders on our progress in due course.

James Lawson-Brown

Chairman

STATEMENT OF DIRECTORS' RESPONSIBILITIES IN RESPECT OF THE CONDENSED INTERIM REPORT AND CONDENSED FINANCIAL STATEMENTS

The Directors, being James Lawson-Brown, Julio Perez and Kate Osborne (all statutory non-executive), confirm that the condensed interim financial information has been prepared in accordance with International Accounting Standard 34, 'Interim Financial Reporting', as adopted by the UK and that the Interim Report includes a fair review of the information required by DTR 4.2.7R and DTR 4.2.8R, namely: an indication of important events that have occurred during the period and their impact on the condensed interim financial information, 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 period.

By order of the Board

Julio Perez

Director

 
 
 
  STATEMENT OF COMPREHENSIVE INCOME 
                                                                                  11 October 
                                                                                     2021 to 
                                                                                     30 June 
                                                                                        2022 
                                                                                 (Unaudited) 
                                                                        Notes            GBP 
-----------------------------------  ---------------  --------------  -------  ------------- 
 
 
  Administrative expenses                                                 5        (206,444) 
--------------------------------------------------------------------  -------  ------------- 
 
  Finance costs                                                                            - 
-----------------------------------  ---------------  --------------  -------  ------------- 
 
  Loss before taxation                                                             (206,444) 
Income tax expense                                                                         - 
-----------------------------------  ---------------  --------------  -------  ------------- 
 
 
  Loss for the period attributable 
  to equity 
holders of the parent company                                                      (206,444) 
--------------------------------------------------------------------  -------  ------------- 
 
  Total comprehensive loss 
  for the period                                                                   (206,444) 
--------------------------------------------------------------------  -------  ------------- 
 
  Earnings per share 
Earnings per share attributable 
 to the equity holders (pence)                                                         (0.2) 
--------------------------------------------------------------------  -------  ------------- 
 
 
STATEMENT OF FINANCIAL POSITION 
                                                                        At 30 
                                                                         June 
                                                                         2022 
                                                                  (Unaudited) 
                                                         Notes            GBP 
------------------------------------  ----------  ---  -------  ------------- 
 
  Assets 
Current assets 
Cash and cash equivalents                                             653,586 
-----------------------------------------------------  -------  ------------- 
Total current assets                                                  653,586 
-----------------------------------------------------  -------  ------------- 
Total assets                                                          653,586 
-----------------------------------------------------  -------  ------------- 
 
  Liabilities 
Current liabilities 
Trade and other payables                                               10,030 
-----------------------------------------------------  -------  ------------- 
Total current liabilities                                              10,030 
-----------------------------------------------------  -------  ------------- 
Total liabilities                                                      10,030 
-----------------------------------------------------  -------  ------------- 
 
  Capital and reserves attributable 
  to shareholders 
Share capital                                             4           850,000 
Accumulated losses                                                  (206,444) 
-----------------------------------------------------  -------  ------------- 
Total capital and reserves                                            643,556 
-----------------------------------------------------  -------  ------------- 
Total equity and liabilities                                          653,586 
-----------------------------------------------------  -------  ------------- 
 

The statement of changes in equity of the Company from the date of incorporation on 11 October 2021 to 30 June 2022 is stated below:

 
STATEMENT OF CHANGES IN EQUITY 
                                                 Share capital  Accumulated 
                                                                     losses      Total 
                                                           GBP          GBP        GBP 
-----------------------------------------  -------------------  -----------  --------- 
 At 11 October 2021 (unaudited)                         50,000            -     50,000 
 Loss for the period                                         -    (206,444)  (206,444) 
 Total comprehensive loss for the period                     -    (206,444)  (206,444) 
 Issue of shares                                       800,000            -    800,000 
-----------------------------------------  -------------------  -----------  --------- 
 At 30 June 2022 (unaudited)                           850,000    (206,444)    643,556 
-----------------------------------------  -------------------  -----------  --------- 
 

For the period from 11 October 2021 to 30 June 2022

 
STATEMENT OF CASH FLOWS 
                                                                          Period 
                                                                        ended 30 
                                                                       June 2022 
                                                   Notes               Unaudited 
                                                                             GBP 
--------------------------------------------  -----------  --------------------- 
Cash flow from operating activities 
 Loss before taxation                                                  (206,444) 
Operating cash flows before working 
 capital changes                                                       (206,444) 
---------------------------------------------------------  --------------------- 
Changes in working capital: 
 (Increase)/decrease in receivable                                             - 
Increase in payables                                                      10,030 
---------------------------------------------------------  --------------------- 
 
  Net cash used in operating activities                                (196,414) 
---------------------------------------------------------  --------------------- 
 
  Financing activities 
  Issue of ordinary shares                                               850,000 
Net cash flow from financing activities                                  850,000 
---------------------------------------------------------  --------------------- 
 
  Net Increase in cash and cash equivalents 
  in the period                                                          653,586 
 
  Total cash and cash equivalents at 
  the end of the period                                                  653,586 
---------------------------------------------------------  --------------------- 
 

NOTES TO THE COMPANY FINANCIAL INFORMATION

   1.   General information and basis of preparation 

The principal activity of the Company is to identify potential companies, businesses or asset(s) in the clean and renewable energy sector that will increase shareholder value. The Company is domiciled in the United Kingdom and incorporated and registered in England and Wales as a public limited company. The Company's registered office is 9(th) Floor, 107 Cheapside, London EC2V 6DN, United Kingdom. The Company's registered number is 13672588.

   2.   Accounting policies 

Basis of preparation

The Financial Statements of the Company have been prepared in accordance with UK-adopted international accounting standards. The Financial Statements have been prepared under the historical cost convention unless otherwise stated. The Financial Statements are prepared in pounds Sterling and presented to the nearest pound.

The preparation of the Company financial statements in conformity with UK-adopted international accounting standards requires the use of certain critical accounting estimates. It also requires the Directors to exercise their judgment in the process of applying the Company's accounting policies.

In the opinion of the management, the interim unaudited financial information includes all adjustments considered necessary for fair and consistent presentation of this financial information.

Going concern

The Company financial statements have been prepared on a going concern basis as the Directors have assessed the Company's ability to continue in operational existence for the foreseeable future. The operations are currently being financed by issuances of new equity. The Company is reliant on the continuing support from its shareholders and the expected support of future shareholders. The Company financial statements do not include the adjustments that would result if the Company were not to continue as a going concern.

   2.   Segmental analysis 

In the opinion of the Directors, the Company is primarily organised into a single operating segment. This is consistent with the Company's internal reporting to the chief operating decision maker. Separate segmental disclosures have therefore not been included.

   3.   Loss per share 

Basic loss per share is based on the net loss for the period of GBP206,444 attributable to equity holders related to the weighted average number of ordinary shares in issue during the period of 8,500,000.

The following reflects the loss and share data used in the basic loss per share computations:

 
 
                       For six months 
                                ended 
                         30 June 2021 
                            Unaudited 
------------------------------------- 
 
  Loss after tax (206,444) 
  Number of ordinary shares of 
  GBP0.10 in issue 8,500,000 
 Loss per share - basic (pence) (0.2) 
------------------------------------- 
 
   4.      Share capital 

Issued equity share capital

At 30 June 2022

Unaudited

      Number                       GBP 

________________________________________________________________________________________

Issued and fully paid

Ordinary Shares of GBP0.10 each 8,500,000 850,000

The Company was incorporated on 11 October 2021, on which date the issued share capital was

GBP50,000 divided into 500,000 shares of nominal value GBP0.10 each.

Conditional on admission to a Standard Listing and to trading on the Main Market of the Company's entire share capital on 9 March 2022, the Company issued 8,000,000 Ordinary Shares at a price of 10p each to raise gross cash subscription receipts of GBP800,000.

 
 
  5. Administrative expenses 
                                                   For the 
                                                    period ended 
                                                         30 June 
                                                            2022 
                                                       Unaudited 
                                                             GBP 
------------------------------------    ------------------------ 
 
  This is stated after charging: 
Auditor's remuneration 
-audit of the Company                                     25,000 
-non-audit services                                            - 
Directors' remuneration                                        - 
Legal, professional and consultancy 
 fees                                                    125,250 
Other expenses                                            56,194 
--------------------------------------  ------------------------ 
 
  6. Post balance sheet events 
 

There were no significant events subsequent to the balance sheet date.

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END

IR FFFLLIFLFIIF

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October 03, 2022 02:00 ET (06:00 GMT)

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