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WEBIS HOLDINGS PLC
Report Publication Announcement • Nov 29, 2021
8017_rns_2021-11-29_a26f08c4-0628-4b71-b8bb-3d324aab8c73.html
Report Publication Announcement
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National Storage Mechanism | Additional information 
RNS Number : 7991T
Webis Holdings PLC
29 November 2021
7.00am 29 November 2021
Webis Holdings plc
("Webis" or the "Company")
Delay in publication of the Annual Report and Consolidated Financial Statements for the year ended 31 May 2021
The board of Webis hereby notifies shareholders that the completion of the audit of the accounts for the Company, for the year ended 31 May 2021 (the "Accounts") are delayed due to a Covid-19 related issue. Unfortunately, the completion of an annual report from Deloitte USA reviewing the activities of AmTote - the third-party wagering hub provider to Watch&Wager LLC - is delayed as a result of the pandemic. Our auditors, KPMG, are obliged under standard IFRS audit procedures to use this report to provide the verification required to complete the audit by 30 November 2021. The Board is confident that the verification is merely a matter of procedure only and will occasion no change to the Accounts which are anticipated to contain an unqualified audit report. Accordingly, the Company has agreed with AIM an extension to 28 February 2022 for the publication deadline of its Accounts. Every effort is being made to complete the Accounts as soon as possible and they will be published via RNS thereafter.
Meanwhile, the board of Webis provides the following trading update for the year-ended 31 May 2021 which anticipates a US$ 1.1 million uplift in profitability over the previous year: -
Consolidated Statement of Comprehensive Income
For the year ended 31 May 2021
| Unaudited 2021 US$000 |
2020 US$000 |
|||
|---|---|---|---|---|
| Amounts wagered | 132,149 | 105,325 | ||
| Revenue | 55,668 | 43,436 | ||
| Cost of sales | (49,757) | (38,820) | ||
| Betting duty paid | (114) | (83) | ||
| Gross profit | 5,797 | 4,533 | ||
| Operating costs | (5,314) | (4,908) | ||
| Impairment movement on trade receivables | 7 | (18) | ||
| Re-organisational and other costs | - | (28) | ||
| Other gains / (losses) | 2 | (29) | ||
| Government grant | 272 | 48 | ||
| Other income | 185 | 212 | ||
| Operating profit / (loss) | 949 | (190) | ||
| Finance costs | (125) | (94) | ||
| Profit / (loss) before income tax | 824 | (284) | ||
| Income tax expense | - | - | ||
| Profit / (loss) for the year | 824 | (284) | ||
| Other comprehensive income: | ||||
| Items that may be subsequently reclassified to profit or loss: | ||||
| Currency translation differences on disposal of foreign subsidiaries | - | - | ||
| Other comprehensive profit / (loss) for the year | - | - | ||
| Total comprehensive profit / (loss) for the year | 824 | (284) | ||
| Basic earnings per share for profit / (loss) attributable to the equity holders of the Company during the year (cents) | 0.21 | (0.07) | ||
| Diluted earnings per share for profit / (loss) attributable to the equity holders of the Company during the year (cents) | 0.20 | (0.07) | ||
Statements of Financial Position
As at 31 May 2021
| Unaudited 31.05.21 Group US$000 |
Unaudited 31.05.21 Company US$000 |
31.05.20 Group US$000 |
31.05.20 Company US$000 |
|
|---|---|---|---|---|
| Non-current assets | ||||
| Intangible assets | 12 | - | 30 | - |
| Property, equipment and motor vehicles | 380 | 6 | 415 | 7 |
| Investments | - | 3 | - | 2 |
| Bonds and deposits | 101 | - | 101 | - |
| Total non-current assets | 493 | 9 | 546 | 9 |
| Current assets | ||||
| Bonds and deposits | 882 | - | 882 | - |
| Trade and other receivables | 1,896 | 150 | 1,256 | 463 |
| Cash, cash equivalents and restricted cash | 5,083 | 2,142 | 3,969 | 1,780 |
| Total current assets | 7,861 | 2,292 | 6,107 | 2,243 |
| Total assets | 8,354 | 2,301 | 6,653 | 2,252 |
| Equity | ||||
| Called up share capital | 6,334 | 6,334 | 6,334 | 6,334 |
| Share option reserve | 42 | 42 | 42 | 42 |
| Retained losses | (4,684) | (5,516) | (5,508) | (5,526) |
| Total equity | 1,692 | 860 | 868 | 850 |
| Current liabilities | ||||
| Trade and other payables | 4,995 | 91 | 3,749 | 52 |
| Deferred income | - | - | 272 | - |
| Loans, borrowings and lease liabilities | 572 | 500 | 97 | - |
| Total current liabilities | 5,567 | 591 | 4,118 | 52 |
| Non-current liabilities | ||||
| Loans, borrowings and lease liabilities | 1,095 | 850 | 1,667 | 1,350 |
| Total non-current liabilities | 1,095 | 850 | 1,667 | 1,350 |
| Total liabilities | 6,662 | 1,441 | 5,785 | 1,402 |
| Total equity and liabilities | 8,354 | 2,301 | 6,653 | 2,252 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For further information:
Webis Holdings plc Tel: 01624 639396
Denham Eke
Beaumont Cornish Limited Tel: 020 7628 3396
Roland Cornish/James Biddle
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