High Growth Capital Plc - Interim Results to 31 March 2018

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High Growth Capital Plc - Interim Results to 31 March 2018

PR Newswire

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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