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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Davictus Plc | LSE:DVT | London | Ordinary Share | JE00BYY5RQ34 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.25 | 3.50 | 5.00 | 4.25 | 4.25 | 4.25 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Eating Places | 411k | 229k | 0.0172 | 2.47 | 567.38k |
TIDMDVT
RNS Number : 7987P
daVictus plc
05 September 2017
daVictus plc
("daVictus" or the "Company")
Interim results for the 6 months ended 30 June 2017
Director's Statement
I am pleased to report the condensed financial statements of Davictus PLC (the "Company" or "Davictus") for the six months ended 30 June 2017.
For the first half of 2017, the Directors have actively discussed with potential target companies in the food and beverages ("F&B") sector - which operate in or own Western food and beverage F&B eatery franchises in South East Asia and/or the Far East, however, none of which has met the necessary criteria for selection to date.
While we continue our efforts to identify targets for acquisition, the Company has sufficient funds for general corporate purposes and pre-acquisition activities, including on-going costs and expenses such as Directors' fees and salaries, due diligence costs and other costs of sourcing, reviewing and to pursue potential acquisitions.
We are encouraged by both business opportunities and positive start we have made to the current year and we would always remain optimistic in respect of target acquisition.
During the reporting period, the Company reported a net loss of 54,010.
As at 30 June 2017, the Company had cash in bank of GBP569,953.
There are a number of potential risks and uncertainties which may have material impact on the Company's performance over the remaining six months of the financial year and could cause actual results to differ materially from expected and historical results. The directors do not consider any changes on the principal risks and uncertainties since the publication of the annual report for the year ended 31 December 2016, which contained a detailed explanation of the risks relevant to the Company, is also available at http://www.davictus.co.uk.
The Board looks forward to providing further updates to the shareholders in due course.
Responsibility Statement
The Directors are responsible for preparing the Condensed Financial Statements in accordance with the Disclosure and Transparency Rules of the United Kingdom's Financial Conduct Authority ('DTR') and with International Accounting Standard 34 on Interim Financial Reporting (IAS 34).
The directors confirm that, to the best of their knowledge, this condensed consolidated half-yearly report has been prepared in accordance with IAS 34, as adopted by the European Union. The interim management report includes a fair review of the information required by DTR 4.2.7 and DTR 4.2.8, namely:
-- an indication of important events that have occurred during the first six months and their impact on the condensed set of financial statements, 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 first six months and any material changes in the related-party transactions described in the last annual report.
Director
5 September, 2017
CONDENSED STATEMENT OF COMPREHESIVE INCOME (UNAUDITED)
FOR THE SIX MONTHSED 30 JUNE 2017
Notes 6 months 6 months period period ended ended 30 June 30 June 2017 2016 GBP GBP (Unaudited) (Unaudited) ------------ ------------ INCOME - - ------------ ------------ - - Interest income - 238 Operating expenses (54,010) (193,376) ------------ ------------ OPERATING PROFIT/LOSS BEFORE TAXATION (54,010) (193,138) Income tax expense 3 - - ------------ ------------ LOSS FOR THE PERIOD ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY (54,010) (193,138) Basic and diluted loss per (0.48) (3.21) share (pence) 4 p p ============ ============
CONDENSED STATEMENT OF FINANCIAL POSITION (UNAUDITED)AS AT 30 JUNE 2017
Notes As at As at As at 30 June 30 June 31 December 2017 2016 2016 GBP GBP GBP (Unaudited) (Unaudited) Audited CURRENT ASSETS Other receivables - - Cash and cash equivalents 569,953 721,112 632,220 ------------- 569,953 721,112 632,220 CURRENT LIABILITIES Other payables 14,779 10,470 23,354 Amount owing to 318 - - directors ----------------- ------------ ------------- 15,097 10,470 23,354 ----------------- ------------ ------------- NET ASSETS 554,856 710,642 608,866 ================= ============ ============= EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY Stated capital 5 1,053,400 1,125,000 1,053,400 Retained earnings (498,544) (414,358) (444,534) ----------------- ------------ ------------- TOTAL EQUITY 554,856 710,642 608,866 ================= ============ =============
CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED)
FOR THE SIX MONTHSED 30 JUNE 2017
6 months 6 months period period ended ended 30 June 30 June 2017 2016 GBP GBP (Unaudited) (Unaudited) Cash flow from operating activities Operating loss (54,010) (193,138) ------------------- ------------ Changes in working capital (8,257) (101,500) ------------------- ------------ Net cash flow from operating activities (62,267) (294,638) ------------------- ------------ Cash flow from financing activities Issue of share capital - 1,000,000 ------------------- ------------ Net cash flow from financing activities (62,267) 1,000,000 ------------ Net increase in cash and cash equivalents (62,267) 705,362 Cash and cash equivalents at beginning of period 632,220 15,750 ------------------- ------------ Cash and cash equivalents at end of period 569,953 721,112 =================== ============
STATEMENT OF CHANGES IN EQUITY (UNAUDITED)
FOR THE SIX MONTHSED 30 JUNE 2017
Period from 1 January 2017 to 30 June 2017
Stated Retained Total capital earnings GBP GBP GBP As at 1 January 2017 1,053,400 (444,534) 608,866 Loss for the period - (54,010) (54,010) ------------ ------------ ---------- Total comprehensive loss for the period - (54,010) (54,010) ------------ ------------ ---------- As at 30 June 2017 1,053,400 (498,544) 554,856 ============ ============ ========== Period from 1 January 2016 to 30 June 2016 Stated Retained Total capital earnings GBP GBP GBP As at 1 January 2016 125,000 (221,220) (96,220) Loss for the period - (193,138) (193,138) ------------ ------------ ---------- Total comprehensive loss for the period - (193,138) (193,138) ------------ ------------ ----------
Issue of ordinary shares 1,000,000 - 1,000,000 As at 30 June 2016 1,125,000 (414,358) 710,642 ============ ============ ==========
For the year ended 31 December 2016
Stated Retained Total capital earnings GBP GBP GBP As at 1 January 2016 125,000 (221,220) (96,220) Loss for the period - (223,314) (223,314) ---------- ---------- ---------- Total comprehensive loss for the period - (223,314) (223,314) ---------- ---------- ---------- Issue of ordinary shares 1,000,000 - 1,000,000 Share issuance costs (71,600) - (71,600) As at 31 December 2016 1,053,400 (444,534) 608,866 ========== ========== ==========
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30 JUNE 2017
1. GENERAL INFORMATION
The Company was incorporated and registered in Jersey as a public company limited by shares on 5 February 2015 under the companies (Jersey) Law 1991 and registered number 117716. The registered office of the Company is at the offices of 43/45 La Motte Street St Helier Jersey JE4 8SD.
2. ACCOUNTING POLICIES
Basis of preparation
The condensed interim financial information for the six month period ended 30 June 2017 has been prepared in accordance with IAS 34 Interim Financial Reporting. It is unaudited and does not constitute statutory financial statements. The comparative interim financial information covers the period ended 30 June 2016.
The condensed interim financial information has been prepared on a basis consistent with, and on the basis of, the accounting policies set out in the audited financial statements of the Company for the year ended 31 December 2016, which have been prepared in accordance with IFRSs as adopted by the European Union.
The condensed interim financial information is presented in British Pound Sterling ("GBP").
Going concern
The condensed interim financial information has been prepared on a going concern basis, which assumes that the Company will continue to be able to meet its liabilities as they fall due for the foreseeable future.
3. INCOME TAX EXPENSE
The Company is not a "Financial Services Company" registered under the relevant Jersey laws; or a specified utility company and therefore it is subject to Jersey income tax at the general rate of 0 per cent. If the Company derives any income from Jersey property, including development of land or quarrying, such income will be subject to tax at the rate of 20 per cent. It is not expected that the Company will derive any such income.
4. LOSS PER SHARE
Basic loss per ordinary share is calculated by dividing the loss attributable to equity holders of the company by the weighted average number of ordinary shares in issue during the period. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. There are currently no dilutive potential ordinary shares.
6 months 6 months period period ended ended 30 June 30 June 2016 2017 Loss for the year (GBP) (54,010) (193,138) Weighted average number of shares (Unit) 11,250,000 6,007,576 Loss per share (Pence) (0.48)p (3.21)p 5. STATED CAPITAL & RESERVES As at As at As at 30 June 31 December 30 June 2017 2016 2016 GBP GBP GBP Allotted, called up and fully paid (Ordinary shares of GBP0.01 each) 1,053,400 1,053,400 1,125,000
On 29 January 2016, the Company issued 10,000,000 Ordinary shares of GBP0.01 each at a price of 10 pence per share as part of the Initial Public Offering of the Company's shares.
6. RELATED PARTY TRANSACTION
The directors are considered to be the key management personnel. Details concerning Directors remuneration can be found below:
6 months 6 months period period ended ended 30 June 30 June 2017 2016 GBP GBP Robert Pincock Fee 7,500 7,500 Abd Hadi Bin Abd Majid Fee 5,000 5,000 Maurice James Malcolm Groat Fee 2,000 1,667 --------- --------- 14,500 14,167 --------- --------- 7. SEASONAL OR CYCLICAL FACTORS
There are no seasonal factors that materially affect the operations of any company in the Group.
8. SUBSEQUENT EVENTS
There are no subsequent events requiring disclosure in these financial statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR LIFSFAVIEIID
(END) Dow Jones Newswires
September 05, 2017 02:41 ET (06:41 GMT)
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