AI Terminal
Evrima Plc
Earnings Release • Sep 27, 2024
10302_rns_2024-09-27_c8c8056c-0437-43e7-8160-a786d43ed6c3.html
Earnings Release
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information
Evrima Plc - Interim Results for the Six Months Ended 30 June 2024
PR Newswire
LONDON, United Kingdom, September 27
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY EVRIMA PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
27 September 2024
Evrima PLC (“Evrima” or the “Company”)
AQSE: EVA
Interim Results for the Six Months Ended 30 June 2024
Evrima, an investment issuer with a primary focus on the commodities, mineral exploration, and development sectors, is pleased to announce its unaudited interim financial results for the six-month period ending 30 June 2024.
As at 30 June 2024, Evrima continued to hold a broad and varied portfolio of investments, spanning both listed and private entities. These investments reflect the Company’s dedication to seeking out opportunities that align with its focus on high-growth potential in the commodities and exploration industries.
The listed portion of Evrima’s investment portfolio is composed of carefully selected public companies, chosen to leverage the Company’s ability to respond to evolving global market trends. These listed investments are aligned with Evrima’s objective of maximising shareholder returns through calculated engagement with market movements and economic shifts.
In tandem, Evrima remains actively involved in identifying and supporting privately owned companies that demonstrate significant potential for expansion and long-term success. Each private investment is subjected to thorough due diligence and is chosen based on its alignment with Evrima’s strategic goals for value creation and long-term profitability.
The Company remains committed to a hands-on approach in managing its investments, continuously evaluating performance and adapting to the broader economic and geopolitical environment. Evrima’s strategy is built on a foundation of adaptability, aiming to optimise returns while mitigating risks associated with market volatility.
Evrima is dedicated to maintaining a well-balanced portfolio, with a continued focus on capitalising on emerging opportunities and favourable conditions within its core sectors. The Company remains vigilant in monitoring the progress of its investments, ensuring that it can respond swiftly and effectively to market dynamics.
The Company will continue to keep shareholders updated on any material developments regarding its portfolio in forthcoming announcements.
The half-yearly financial report has not been audited or reviewed by the Company’s auditors.
The Directors of the Company, who have issued this RIS announcement after due and careful enquiry, accept responsibility for its content.
*REGULATORY ANNOUNCEMENT ENDS*
*Enquiries:*
Company:
Burns Singh Tennent-Bhohi (CEO & Director)
Simon Grant-Rennick (Executive Chairman)
Novum Securities Limited (Corporate Adviser):
David Coffman / George Duxberry: + 44 (0) 20 7399 9400
Peterhouse Capital Limited (Corporate Stockbroker):
Lucy Williams: +44 (0) 20 7469 0930
| Statement of comprehensive income for the six months ended 30 June 2024 | |||||||
| 6 months ended | Year ended | 6 months ended | |||||
| 30 June | 31 December | 30 June | |||||
| 2024 | 2023 | 2023 | |||||
| (unaudited) | (audited) | (unaudited) | |||||
| £ | £ | £ | |||||
| Turnover | - | - | - | ||||
| Administrative expenses | (127,923) | (271,998) | (140,151) | ||||
| Operating profit/(loss) | (127,923) | (271,998) | (140,151) | ||||
| Other operating income | 26,282 | 29,981 | 5,000 | ||||
| Operating loss | (101,641) | (242,017) | (135,151) | ||||
| Fair value movement | (107,357) | (555,075) | (189,811) | ||||
| Profit/(loss) for the year from continuing operations | (208,998) | (797,092) | (324,962) | ||||
| Interest payable | (65) | (11,304) | - | ||||
| Loss before taxation | (209,063) | (808,396) | (324,962) | ||||
| Tax on loss | - | 54,780 | - | ||||
| Loss for the financial year | (209,063) | (753,616) | (324,962) | ||||
| Basic earning per share - in pence | (0.005) | (1.910) | (0.001) | ||||
| Diluted earning per share - in pence | (0.005) | (1.910) | (0.001) | ||||
| Statement of financial position as at 30 June 2024 | |||||||
| 6 months ended | Year ended | 6 months ended | |||||
| 30 June | 31 December | 30 June | |||||
| 2024 | 2023 | 2023 | |||||
| (unaudited) | (audited) | (unaudited) | |||||
| Notes | £ | £ | £ | ||||
| Fixed assets | |||||||
| Investments | 1 | 302,075 | 546,525 | 870,973 | |||
| Current assets | |||||||
| Investments | 1 | 462,457 | 474,086 | 741,630 | |||
| Debtors | 73,766 | 25,360 | 32,353 | ||||
| Cash at bank | 5,131 | 6,886 | 172 | ||||
| Total current assets | 541,354 | 506,332 | 774,155 | ||||
| Current liabilities | |||||||
| Creditors falling due within one year | 31,194 | 31,559 | 140,395 | ||||
| Total current creditors | 31,194 | 31,559 | 140,395 | ||||
| Net current assets | 510,160 | 474,773 | 633,760 | ||||
| Total assets less current liabilities | 812,235 | 1,021,298 | 1,504,733 | ||||
| Provisions for liabilities | - | - | (54,780) | ||||
| Net assets | 812,235 | 1,021,298 | 1,449,953 | ||||
| Capital & reserves | |||||||
| Share capital | 244,068 | 244,068 | 244,068 | ||||
| Share premium | 1,360,029 | 1,360,029 | 1,360,029 | ||||
| Other reserves | 44,100 | 44,100 | 44,100 | ||||
| Retained earnings | (835,962) | (626,899) | (198,244) | ||||
| Total capital & reserves | 812,235 | 1,021,298 | 1,449,953 | ||||
| Statement of changes in equity as at 30 June 2024 | |||||||
| Share capital |
Share Premium | Share based payment reserve | Retained earnings | Total owner's equity | |||
| £ | £ | £ | £ | £ | |||
| Balance at 1 January 2023 | 244,068 | 1,360,029 | 44,100 | 126,717 | 1,774,914 | ||
| Profit for the period | - | - | - | (753,616) | (753,616) | ||
| Balance at 31 December 2023 | 244,068 | 1,360,029 | 44,100 | (626,899) | 1,021,298 | ||
| Profit for the period | - | - | - | (209,063) | (209,063) | ||
| Balance at 30 June 2024 | 244,068 | 1,360,029 | 44,100 | (835,962) | 812,235 |
Notes to the statement of financial position
| 1. | Investments | |||||
| Listed investments | ||||||
| Company | Shares held | Share price a | ||||
| Premium Nickel Resources Limited | 405,000 | CAD$ 0.830 | ||||
| Coinsilium Group Plc | 300,000 | US$ 0.020 | ||||
| Tertiary Minerals Plc | 10,000,000 | GBP£ 0.093 | ||||
| Rover Crital Minerals Corp | 100,000 | CAD$ 0.025 | ||||
| Katoro Gold Plc | 20,000,000 | GBP£ 0.105 | ||||
| Unlisted investments | ||||||
| Company | Shares held | Share price b | ||||
| Kalahari Key Mineral Exploration Pty | 3,802 | GBP£ 18.928 | ||||
| Eastport Ventures Inc | 4,026,902 | CAD$ 0.200 | ||||
| 1. The listed investments share price was the quoted price at the close of trading on 30 June 2024 | ||||||
| 2. The unlisted investments share price is a fair value assessment on 30 June 2024 | ||||||
