High Growth Capital Plc - Interim Results to 31 March 2018
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PR Newswire
London, July 19
19 July 2018
High Growth Capital plc
(“HASH” or the “Company”)
Interim Results for the 6 month period ended 31st March 2018
High Growth Capital Limited announces its unaudited results for the six months ended 31st March 2018.
Since 31st March 2018, the Company has disposed of its trading businesses and temporarily became a cash shell listed on the AIM market. At a General Meeting held on 15th June 2018, the Company’s shareholders approved both the adoption of a new investment strategy based on investing in the medicinal cannabis sector, and also the listing of the Company’s shares on the NEX Exchange Growth Market (“NEX”).
These results therefore relate to the historical business activities of the Company. The loss for the 6 months ended 31st March 2018 was £214,000 (2017: loss £288,000).
Since the 31st March 2018, and as part of the process of listing on NEX market, the Company has raised a further £250,000 through the issue of 62,500,000 new ordinary shares at 0.4 pence per share.
The interim results have not been reviewed by the Company’s auditor.
The Company’s Investment Strategy is to initially effectively become a UK, Canadian and Australian-focused medicinal cannabis and related products’ investor. The Company will aim to track companies in the sector that are quoted or listed on public company stock exchanges and Recognised Investment Exchanges. Constituents must have a business strategy focused on the medicinal cannabis industry, or other related cannabis or hemp products.
The Directors of the Company accept responsibility for the content of this announcement.
Contact details:
The Company | Malcolm Burne | 0207 469 0937 [email protected] |
NEX Exchange Corporate Adviser | Peterhouse Capital Limited Guy Miller and Eran Zucker |
020 7220 9795 |
CONSOLIDATED INCOME STATEMENT FOR THE SIX MONTHS ENDED 31ST MARCH 2018 | ||||||||||
Six months | Six months | Year | ||||||||
ended | ended | ended | ||||||||
31/03/18 | 31/03/17 | 30/09/17 | ||||||||
(Unaudited) | (Unaudited) | (Audited) | ||||||||
GBP000 | GBP000 | GBP000 | ||||||||
Revenue | 8 | 35 | 65 | |||||||
Cost of Sales | (1) | (8) | (2) | |||||||
Gross Profit | 7 | 27 | 63 | |||||||
Administrative expenses | (221) | (315) | (557) | |||||||
Operating loss | (214) | (288) | (494) | |||||||
Loss before taxation | (214) | (288) | (494) | |||||||
Income tax | 0 | 0 | 0 | |||||||
Loss for the year | (214) | (288) | (494) | |||||||
Basic loss per share | (0.110p) | (0.213p) | (0.370p) | |||||||
CONSOLIDATED STATEMENT OF FINANCIAL POSITION | ||||||||||
At 31/3/18 | At 31/3/17 | At 30/9/17 | ||||||||
(Unaudited) | (Unaudited) | (Audited) | ||||||||
GBP000 | GBP000 | GBP000 | ||||||||
Investments | 0 | 0 | 0 | |||||||
Trade receivables | 28 | 31 | 13 | |||||||
Cash and cash equivalents | 522 | 485 | 304 | |||||||
Total Assets | 550 | 516 | 317 | |||||||
Share Capital | 6,631 | 6,501 | 6,501 | |||||||
Share premium | 17,377 | 16,987 | 16,987 | |||||||
Share option Reserve | 0 | 4 | 0 | |||||||
Retained earnings | (23,676) | (23,260) | (23,462) | |||||||
Total Equity | 332 | 232 | 26 | |||||||
Trade and other payables | 218 | 284 | 291 | |||||||
Total equity and liabilities | 550 | 516 | 317 | |||||||
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