Evrima Plc - Interim Report for Period Ended 30th June 2020

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.

EVRIMA PLC
(formerly Sport Capital Group plc; “Evrima” or the “Company”)

RESULTS FOR THE PERIOD ENDED 30^TH JUNE 2020

Chairman’s Statement

The Directors present below the unaudited financial statements for the half-year ended 30^th June 2020, which show a loss before taxation of £(15,540) (30^th June 2019: £(73,331)) and cash-at-bank of £2,038 (30^th June 2019: £11,845). The financial statements which follow have not been reviewed by the Company’s statutory auditors. The loss for the half-year was in line with the Directors’ expectations at the beginning of the period under review.

Trading Performance

During the period under review, the Company retained investment property in Leeds, West Yorkshire, which is let on a commercial lease until 2021. Despite the impact of the Covid-19 lock-down which began on 24^th March in England, the lessee of the property continued to perform in accordance with the lease terms.

Other Developments

In May this year, the Company appointed Peterhouse Capital Limited as corporate stockbroker. Keith, Bayley, Rogers & Co. Limited remains Corporate Adviser for the purposes of the Company’s share quotation on AQSE.

When, on 8^th June 2020, I presented the Company’s full-year results for 2019, I stated that the Directors remained focused on opportunities with the potential to bring rewards for shareholders. Since the end of the first half of 2019, there has been a number of important developments within the Company; although each has been publicly disclosed between July 2020 and earlier this month, as and when required, I summarise them below under the heading “Post- Balance Sheet Events”.

Post- Balance Sheet Events

i.    Equity Financing

In July of this year, the Company raised £324,000 gross of new, permanent equity capital by means of a placing of 108,133,133 new shares with new and existing investors.

ii.  Changes of Directorate

At the same time as announcing the re-financing, I was able to announce that two new Directors, Burns Singh Tennent-Bhohi and Guy Miller, had joined the Board of Directors. Mark Jackson, FCA, MBA, left the Board shortly following the re-financing, to concentrate on other business ventures with which I wish him every success.

iii.  Shareholders Approve New Investment Strategy, Capital Streamlining and Name-Change

On 5^th August 2020, the Company posted a circular seeking shareholders’ consent to certain measures, including the re-focusing of the investment objectives onto the natural resources exploration and extraction sector, a re-organisation of the Company’s issued share capital in which the ordinary shares would be consolidated in the ratio of one-for-ten and changing the Company’s name from Sport Capital Group plc to Evrima plc. All the steps sought to be taken were approved on 24^th August 2020.

iv.  Option Significantly to Increase Existing Resource Investment

On 8^th September 2020, Evrima announced that it had entered into a 60-day, exclusive option to acquire a further 17.2 percent of the issued share capital of Kalahari Key Minerals Exploration (Pty.) Limited (“KKME”), a private Botswanan company which is exploring licences in a highly prospective geological formation straddling the border of Botswana and the Republic of South Africa for nickel and platinum group elements. In 2018, the Company acquired a modest interest in KKME and subsequently participated in a capital increase by KKME so that, should the Company elect to exercise the current option announced on 8 September 2020, the Company would be interested in 19.6 percent of the issued share capital of KKME.

I look forward soon to informing shareholders concerning the outcome of the due diligence and evaluation work on KKME that the Company is conducting during the period of exclusivity under the Option Agreement; and of other investment initiatives and developments as these unfold.

Simon Grant-Rennick,
Chairman,

This announcement has been made after due and careful enquiry; the Directors of the Company accept responsibility for the information contained in it.

REGULATORY ANNOUNCEMENT ENDS

• :

Evrima plc (formerly Sport Capital Group plc):
Simon Grant-Rennick
E-mail:           [email protected]
Mob:               +44 797 325 3124

Keith, Bayley, Rogers & Co. Limited (Aquis Exchange Corporate Adviser):
Graham Atthill-Beck
E-mail:           [email protected] 
Tel:          +44 20 7464 4091
Mob:               +44 750 643 4107; +971 50 856 9408

Brinsley Holman
E-mail:      [email protected] 
Tel:          +44 20 7464 4098
Mob:               +44 777 630 2228

Peterhouse Capital Limited (Corporate Stockbroker):
Lucy Williams:         +44 (0) 20 7469 0930
Duncan Vasey:         +44 (0) 20 7220 9797 (Direct)