logo-loader
/**/ h1{margin-top:12.0pt;margin-right:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;line-height:115%;font-size:16.0pt;font-family:"Cambria","serif";color:#365F91;font-weight:normal;}h2{margin-top:2.0pt;margin-right:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;line-height:115%;font-size:13.0pt;font-family:"Cambria","serif";color:#365F91;font-weight:normal;}h3{margin-top:2.0pt;margin-right:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;line-height:115%;font-size:12.0pt;font-family:"Cambria","serif";color:#243F60;font-weight:normal;}p{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";}ol{margin-bottom:0cm;}ul{margin-bottom:0cm;}link{ color: blue }visited{ color: purple } body.bs{text-justify-trim:punctuation}.br{size:21.0cm 841.95pt;margin:36.0pt 45.0pt 1.0cm 35.45pt;}div.br{}p.go{margin:0cm;margin-bottom:.0001pt;font-size:28.0pt;font-family:"Cambria","serif";letter-spacing:-.5pt;font-weight: bold; text-align: center}span.gm{font-size:12.0pt;font-family:"Calibri","sans-serif"}p.gp{margin:0cm;margin-bottom:.0001pt;font-size:28.0pt;font-family:"Cambria","serif";letter-spacing:-.5pt;font-weight: bold; text-align: center}p.g,li.g,div.g{margin:0cm;margin-bottom:.0001pt;font-size:28.0pt;font-family:"Cambria","serif";letter-spacing:-.5pt;}p.gq{margin:0cm;margin-bottom:.0001pt;font-size:28.0pt;font-family:"Cambria","serif";letter-spacing:-.5pt;font-weight: bold; text-align: center}p.s,li.s,div.s{margin:0cm;margin-bottom:.0001pt;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";color:black;}span.gk{font-size:10.0pt;font-family:"Calibri","sans-serif"; color:windowtext} p.gr{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify}span.gj{font-size:10.0pt;line-height:115%}p.gs{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt}p.gt{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm; page-break-after: avoid}span.gg{font-size:12.0pt}span.ge{font-size:10.0pt;font-family:"Calibri","sans-serif"}p.gc{font-weight: bold; text-align: justify}span.gd{font-size:10.0pt;font-family: "Calibri","sans-serif"}p.gu{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Cambria","serif";text-align:justify;text-indent:-18.0pt}p.gv{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Cambria","serif";text-align:justify} p.gw{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Cambria","serif";text-align:justify;text-indent:-18.0pt}p.q,li.q,div.q{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Cambria","serif";}p.gx{margin-top:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:36.0pt;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Cambria","serif";text-align:justify;text-indent:-18.0pt}p.gy{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify;line-height:normal}span.fz{font-size:10.0pt}p.gz{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-top:0cm;margin-right:0cm;margin-bottom:0cm; margin-left:17.3pt;margin-bottom:.0001pt;text-align:justify;text-indent:-17.3pt; line-height:normal}p.ha{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify;line-height:12.65pt}span.fw{font-size:9.0pt;font-family:"Arial","sans-serif"; color:#212121}p.hb{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;line-height: normal;text-autospace:none}p.hc{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; margin-bottom: 0cm} p.hd{margin:0cm;margin-bottom:.0001pt;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 13.15pt}span.fs{font-size:10.0pt; font-family:"Calibri","sans-serif"}table.he{margin-left:-5.4pt;border-collapse:collapse}td.fq{width:178.9pt;padding:0cm 5.4pt 0cm 5.4pt}td.fp{width:325.2pt;padding:0cm 5.4pt 0cm 5.4pt}p.hf{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;line-height: normal}h1.fl{font-weight: bold}span.fm{font-size:10.0pt;line-height:115%;font-family:"Calibri","sans-serif"; color:windowtext}br.fk{page-break-before:always}p.hg{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm} table.hh{width:514.9pt;margin-left:-5.4pt;border-collapse:collapse}tr.fc{height:15.0pt}td.fi{width:216.05pt;padding:0cm 5.4pt 0cm 5.4pt; height:15.0pt}td.fg{width:24.5pt;padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}p.hi{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm; text-align: center}td.fe{width:73.05pt;padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}p.hj{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm; text-align: right}td.fd{width:74.25pt;padding:0cm 5.4pt 0cm 5.4pt; height:15.0pt}span.fb{font-size:10.5pt}p.hk{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";line-height: normal; margin-bottom: 0cm; text-align: center} p.hl{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";line-height: normal; margin-bottom: 0cm; text-align: right}td.ey{width:73.05pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}td.ex{width:74.25pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}p.hm{margin:0cm;margin-bottom:.0001pt;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";color:black;font-weight: bold}td.ev{width:73.05pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:15.0pt}td.eu{width:74.25pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:15.0pt}td.et{width:73.05pt;border-top:solid windowtext 1.0pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}td.es{width:74.25pt;border-top:solid windowtext 1.0pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}p.hn{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm; text-autospace: none; text-decoration: underline}tr.em{height:17.5pt} td.eq{width:216.05pt;padding:0cm 5.4pt 0cm 5.4pt; height:17.5pt}td.ep{width:24.5pt;padding:0cm 5.4pt 0cm 5.4pt;height:17.5pt}td.eo{width:73.05pt;padding:0cm 5.4pt 0cm 5.4pt;height:17.5pt}td.en{width:74.25pt;padding:0cm 5.4pt 0cm 5.4pt; height:17.5pt}span.ek{font-size:11.0pt;line-height:115%;font-family:"Calibri","sans-serif"}p.a,li.a,div.a{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";}table.ho{margin-left:-7.1pt;border-collapse:collapse}tr.ef{height:14.2pt}td.ej{width:229.1pt;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}td.ei{width:18.35pt;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt} td.eh{width:76.7pt;padding:0cm 5.4pt 0cm 5.4pt;height:14.2pt}td.eg{width:76.7pt;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}td.ee{width:76.7pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:14.2pt}tr.dx{height:4.35pt}td.ed{width:229.1pt;padding:0cm 5.4pt 0cm 5.4pt; height:4.35pt}td.ec{width:18.35pt;padding:0cm 5.4pt 0cm 5.4pt; height:4.35pt}td.eb{width:76.7pt;padding:0cm 5.4pt 0cm 5.4pt; height:4.35pt}td.ea{width:76.7pt;padding:0cm 5.4pt 0cm 5.4pt;height:4.35pt}p.hp{margin:0cm;margin-bottom:.0001pt;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";color:black;text-align: right}span.dz{font-size: 10.0pt;font-family:"Calibri","sans-serif"} td.dw{width:76.7pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}td.du{width:40.98%;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}td.dt{width:11.8%;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}td.ds{width:11.8%;padding:0cm 5.4pt 0cm 5.4pt;height:14.2pt}td.dr{width:40.98%;padding:0cm 5.4pt 0cm 5.4pt}td.dp{width:11.8%;border:none;border-bottom:double windowtext 2.25pt; padding:0cm 5.4pt 0cm 5.4pt}p.hq{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; margin-bottom: 0cm; margin-left: 1.7pt; margin-right: 0cm; margin-top: 0cm; text-align: right}tr.dl{height:4.25pt}td.do{width:40.98%;padding:0cm 5.4pt 0cm 5.4pt; height:4.25pt}td.dm{width:11.8%;padding:0cm 5.4pt 0cm 5.4pt;height:4.25pt} p.hr{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom: 0cm; margin-left: 1.7pt; margin-right: 0cm; margin-top: 0cm; text-align: right}td.dk{width:11.8%;padding:0cm 5.4pt 0cm 5.4pt}td.dj{width:11.8%;border:none;border-top: solid windowtext 1.0pt;padding:0cm 5.4pt 0cm 5.4pt}td.di{width:11.8%;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}td.dh{width:11.8%;border:none;padding:0cm 5.4pt 0cm 5.4pt}span.dg{font-size:10.0pt;line-height:115%;font-family:"Calibri","sans-serif"}td.df{width:43.76%;padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}td.de{width:2.26%;padding:0cm 5.4pt 0cm 5.4pt; height:15.0pt}td.dd{width:18.16%;padding:0cm 5.4pt 0cm 5.4pt; height:15.0pt}td.dc{width:17.92%;padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt} td.db{width:17.9%;padding:0cm 5.4pt 0cm 5.4pt; height:15.0pt}td.da{width:18.16%;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}td.cz{width:17.92%;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}td.cy{width:17.9%;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}tr.cs{height:16.5pt}td.cx{width:43.76%;padding:0cm 5.4pt 0cm 5.4pt;height:16.5pt}td.cw{width:2.26%;padding:0cm 5.4pt 0cm 5.4pt; height:16.5pt}td.cv{width:18.16%;padding:0cm 5.4pt 0cm 5.4pt; height:16.5pt}td.cu{width:17.92%;padding:0cm 5.4pt 0cm 5.4pt;height:16.5pt}td.ct{width:17.9%;padding:0cm 5.4pt 0cm 5.4pt; height:16.5pt} td.cr{width:18.16%;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:16.5pt}td.cq{width:17.92%;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:16.5pt}td.cp{width:17.9%;border:none;border-top:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:16.5pt}td.co{width:18.16%;border-top:solid windowtext 1.0pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}td.cn{width:17.92%;border-top:solid windowtext 1.0pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}td.cm{width:17.9%;border-top:solid windowtext 1.0pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.4pt 0cm 5.4pt;height:15.0pt}h2.ck{font-weight: bold; margin-left: 1.0cm; text-indent: -1.0cm}span.cl{font-size: 10.0pt;line-height:115%;font-family:"Calibri","sans-serif";color:windowtext}h3.cj{font-weight: bold}span.ci{font-size:10.0pt;line-height: 115%} p.hs{margin:0cm;margin-bottom:.0001pt;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:13.3pt}tr.cd{page-break-inside:avoid;height:14.2pt}td.cg{width:244.35pt;padding:0cm 5.4pt 0cm 5.4pt;height:14.2pt}td.cf{width:75.75pt;padding:0cm 5.4pt 0cm 5.4pt;height:14.2pt}td.ce{width:75.8pt;padding:0cm 5.4pt 0cm 5.4pt;height:14.2pt}td.cc{width:75.75pt;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}td.cb{width:75.8pt;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}td.ca{width:244.35pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:14.2pt}td.bz{width:75.75pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:14.2pt}td.by{width:75.8pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:14.2pt} td.bx{width:244.35pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}td.bw{width:75.75pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}td.bv{width:75.8pt;border:none;padding:0cm 5.4pt 0cm 5.4pt; height:14.2pt}p.ht{margin:0cm;margin-bottom:.0001pt;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold}p.hu{margin-top:0cm;margin-right:0cm;margin-bottom:10.0pt;margin-left:0cm;line-height:115%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-top:0cm;margin-right:0cm;margin-bottom:0cm; margin-left:1.0cm;margin-bottom:.0001pt}span.bt{font-size:10.0pt; line-height:115%} /**/
RNS Number : 0793L
Primorus Investments PLC
03 September 2019
 

Primorus Investments plc

 

("Primorus" or the "Company")

 

Interim Results for the six months ended 30 June 2019

 

Primorus Investments plc announces its interim results for the six months ended 30 June 2019.

 

Overview

 

Primorus Investments plc ("Primorus") has a strong balance sheet with no debt and with total assets (including cash of £121,000) as at 30 June 2019 amounting to £4.85 million. (30 June 2018: £4.94 million).

2019 has been a successful period for the Company as detailed below.

Highlights for the period were as follows:

-       Fresho completed a heavily backed A$2.25 million capital raise and attracted a A$1.5 million investment from high-profile, technology and senior banking investors. Undertook widespread external press coverage that "lifts the veil" on the business to industry for the first time. Currently pressing ahead on global expansion plans that may include the UK.

 

-       Post-period end, topped up our investment in Engage Technology Partners ("Engage") by £50,000 to £1.45 million. Recently received an Engage update which highlights outstanding growth in monthly recurring revenues and billable transactions on the back of the first Self-Serve, truly scalable, SaaS products.

 

-       Greatland Gold (GGP.L) signed a Farm-in Agreement with Newcrest Mining (NCZ.AX) ("Newcrest") over the Havieron Project. Newcrest has the right to acquire up to a 70% interest in 12 blocks within E45/4701 that cover the Havieron target by spending up to US$65 million (circa £50 million or AUD$90 million) and completed a series of exploration and development milestones in a four-stage farm-in over six years.

 

-       WeShop completed an Amazon license agreement to pay WeShop for user purchases facilitated by WeShop and to enable Amazon inventory to be available on the WeShop platform. Instagram integration license: functionality to enable WeShop users to import existing content from Instagram to post on WeShop. Apple iTunes (Apple Services) partner agreement to pay WeShop for user purchases facilitated by WeShop and to enable iTunes inventory of all music, video, books and other media to be available on the WeShop platform.

 

-       SOA Energy ("SOA") executed a Farm-in Agreement with Delek Drilling ("Delek"), one of Israel's largest Oil and Gas companies with a market capitalisation of circa US$3.5 billion. According to the agreement, Delek will invest up to US$8.3 million, in return Delek will assume a 25%, non-operated stake in each of the Ofek and Yahel licences, leaving SOA with a 45% stake in each permit. Drill programme is estimated to commence in late 2019.

 

-       Post-period end, Primorus agreed pricing on a sale of its A$500,000 in Series B loan notes by a known third party. Expecting final execution of sale documents to occur in next 8 weeks. If completed as contemplated, this sale would result in a significant return above investment earlier than previously contemplated.

 

 

Financial Results

 

The operating loss was £418,000 (30 June 2018: £48,000 loss). The net loss after tax was £418,000 (30 June 2018: £48,000).

 

Total assets including cash at 30 June 2019 amounted to £4.85 million (30 June 2018: £4.94 million).

 

 

Outlook

 

The Board remains confident that the private and pre-IPO markets remain significantly under-served and as such significant opportunities exist for the Company going forward. We look forward to the remainder of 2019 being a period in which we can further demonstrate our business model by exiting some more of our investment positions, thereby realising tangible value for all shareholders.

 

We will continue to seek out further investments in line with the Company's investing strategy.

 

The Directors would like to take this opportunity to thank our shareholders, staff and consultants for their continued support.

 

 

Jeremy Taylor-Firth

Chairman

3 September 2019

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

For further information please contact:

 

Primorus Investments plc

Alastair Clayton, Executive Director

 

 

+44 (0) 20 7440 0640

Nominated Advisor

Cairn Financial Advisers LLP

James Caithie / Sandy Jamieson

 

 

+44 (0) 20 7213 0880

 

Broker
Turner Pope Investments Limited

Andy Thacker

 

 

 

 

 

+44 (0) 20 3621 4120

 



 

Unaudited Condensed Company Statement of Comprehensive Income
for the six months ended 30 June 2019

 



6 months to

6 months to

Year to



30 June 2019

30 June 2018

31 December 2018



Unaudited

Unaudited

Audited


Notes

£'000

£'000

£'000

Continuing operations





Revenue





Investment income


-

-

7

Realised gain on disposal of AFS investments


(136)

267

985

Unrealised (loss)/gain on market value movement of AFS investments


(18)

(57)

(79)

Total gains on AFS investments


(154)

210

913






Impairment provision on AFS investments


-

-

(100)

Share based payments


-

-

(212)

Administrative costs


(264)

(258)

(605)






Operating (loss)


(418)

(48)

(4)






Provision on associate loan


-

-

-

Share of (loss) of associate


-

-

-

Net (loss) on disposal of associate


-

-

-

(Loss) before tax


(418)

(48)

(4)






Taxation


-

-

-

(Loss) for the period


(418)

(48)

(4)






Other comprehensive income





Transfer to income statement of available for sale reserve


-

-

-

Total Comprehensive Income for the year attributable to the owners of the parent company


(418)

(48)

(4)






(Loss) per share:





Basic and diluted (loss) per share (pence)

2

(0.015)

(0.002)

(0.0001)



 

Unaudited Condensed Company Statement of Financial Position
as at 30 June 2019

 



30 June 2019

30 June 2018

31 December 2018



Unaudited

Unaudited

Audited


Notes

£'000

£'000

£'000

ASSETS





Non-current assets





Available for sale assets


4,674

4,023

4,779



4,674

4,023

4,779






Current assets





Trade and other receivables


57

642

89

Cash and cash equivalents


121

274

408



178

916

497






Total assets


4,852

4,939

5,276






EQUITY





Equity attributable to equity holders of the parent





Share capital


15,391

15,391

15,391

Share premium account


35,296

35,296

35,296

Share based payment reserve


683

471

683

Retained earnings


(46,630)

(46,256)

(46,212)

Total equity


4,740

4,902

5,158






LIABILITIES





Current liabilities





Trade and other payables


112

37

118

Total liabilities


112

37

118






Total equity and liabilities


4,852

4,939

5,276



 

Unaudited Condensed Company Statement of Changes in Equity
for the six months ended 30 June 2019

 


Share

capital

Share

premium

Share based payment reserve

Retained

earnings

Total

attributable

to owners

of parent

Unaudited

 

£'000

£'000

£'000

£'000

£'000

Balance at 31 December 2017

15,391

35,296

471

(46,208)

4,950







Loss for the period

-

-

-

(4)

(4)

Total comprehensive income for the period

-

-

-

(4)

(4)







Share options issued

-

-

212

-

212

Transactions with owners of the company

-

-

212

-

212







Balance at 31 December 2018

15,391

35,296

683

(46,212)

5,158







Loss for the period

-

-

-

(418)

(418)

Total comprehensive income for the period

-

-

-

(418)

(418)







Shares issued

-

-

-

-

-

Share Issue costs

-

-

-

-

-

Share options issued

-

-

-

-

-

Transactions with owners of the company

-

-

-

-

-







Balance at 30 June 2019

15,391

35,296

683

(46,630)

4,740



 

Unaudited Condensed Company Statement of Cash Flows
for the six months ended 30 June 2019

 



6 months to

6 months to

Year to



30-Jun-19

30-Jun-18

31-Dec-18



Unaudited

Unaudited

Audited



£'000

£'000

£'000

Cash flows from operating activities





Operating (loss)


(418)

(48)

(4)

Adjustments for:





Share based payment charge


-

-

212

Impairment provision


-

-

100

Decrease/(increase) in trade and other receivables


32

83

(47)

Increase/(decrease) in trade and other payables


(6)

(60)

21

Decrease/(increase) in AFS Investments


147

(262)

(175)

Taxation (paid)


-

-

-

Net cash used in operating activities


(245)

(287)

107






Cash flows from investing activities





Purchase of available for sale assets


(334)

-

-

Proceeds from sales of available for sale assets


292

-

-

Loan advanced to related party


-

-

(260)

Net cash (used in) investing activities


(42)

-

(260)






Cash flows from financing activities





Proceeds from share issues


-

-

-

Share issue costs


-

-

-

Net cash from financing activities


-

-

-






Net change in cash and cash equivalents


(287)

(287)

(153)






Cash and cash equivalents at beginning of period


408

561

561

Cash and cash equivalents at end of period


121

274

408



 

Notes to the condensed interim financial statements

1.         General Information

 

The condensed interim financial information for the 6 months to 30 June 2019 does not constitute statutory accounts for the purposes of Section 434 of the Companies Act 2006 and has not been audited or reviewed. No statutory accounts for the period have been delivered to the Registrar of Companies.

 

The condensed interim financial information in respect of the year ended 31 December 2018 has been produced using extracts from the statutory accounts for that period. Consequently, this does not constitute the statutory information (as defined in section 434 of the Companies Act 2006) for the year ended 31 December 2018, which was audited. The statutory accounts for this period have been filed with the Registrar of Companies. The auditors' report was unqualified and did not contain a statement under Sections 498 (2) or 498 (3) of the Companies Act 2006.

 

The Report was approved by the Directors on 3 September 2019 and is available on the Company's website at www.primorusinvestments.com .

 

Basis of preparation and accounting

 

The financial information has been prepared on the historical cost basis. The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Chairman's Statement. This statement also includes a summary of the Company's financial position and its cash flows.

 

These condensed interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union with the exception of International Accounting Standard ('IAS') 34 - Interim Financial Reporting. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements and should be read in conjunction with the Company's 2018 annual financial statements.

 

2.         Earnings per share

 

The calculation of the basic earnings per share is based on the earnings attributable to ordinary shareholders divided by the weighted average number of shares in issue during the year. The calculation of diluted earnings per share is based on the basic earnings per share, adjusted to allow for the issue of shares and the post-tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.

 

Reconciliations of the earnings and weighted average number of shares used are set out below.

 


Six months to

Six months to

Year ended


30 June 2019

30 June 2018

31 December 2018


(Unaudited)

(Unaudited)

(Audited)


(£'000)

(£'000)

(£'000)

Net loss attributable to equity holders of the company

(418)

(47)

(4)





Weighted average number of shares

2,796,619,344

2,796,619,344

2,796,619,344





Basic and diluted loss per share (pence)

(0.015)

(0.002)

(0.0001)

 

3.         Events after the reporting date

 

None


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
IR BDGDCXBGBGCX

Quick facts: Primary Energy Metals Inc.

Price: 0.4

Market: CSE
Market Cap: $9.33 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Primary Energy Metals see big upside with projects in Utah, Spain and...

Primary Energy Metals (CSE:PRIM) CEO Patrick Morris joined Steve Darling from Proactive Investors in Vancouver to update Primary's projects around the world including Spain. Morris also provided details of their recent acquisition of 39 mineral claims in various locations in the Province...

on 1/11/18