Hot Rocks Investments plc: FINAL RESULTS TO 31 MARCH 2019 AND NOTICE OF AGM (869175)
September 05 2019 - 6:48AM
UK Regulatory
Hot Rocks Investments plc (HRIP)
Hot Rocks Investments plc: FINAL RESULTS TO 31 MARCH 2019 AND NOTICE OF AGM
05-Sep-2019 / 12:48 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
HOT ROCKS INVESTMENTS PLC
(the "Company")
AUDITED FINAL RESULTS TO 31 MARCH 2019 AND NOTICE OF AGM
CHAIRMAN'S STATEMENT
I hereby present the financial results for the Company for the year ended 31
March 2019. The Company is an active investor primarily in junior natural
resources companies.
The Company made a pre-tax loss of GBP35,376 for the year, compared to a
pre-tax loss of GBP219,298 in the prior year. The Company will not be paying a
dividend at this stage (2018: GBPNil).
Cash and cash equivalents as at the year end of 31 March 2019 were GBP46,745
(2018: GBP16,710).
It has been quite a difficult period for small cap exploration companies and
we have seen some significant fluctuations in the valuations of our
investments during the period, both up and down.
We are generally pleased with performance and are working on a number of new
projects to continue to add value to the portfolio.
We currently hold stakes in the following entities:
· Bermele plc (LSE:BERM)
· Bidstack Group plc (AIM:BIDS)
· Block Energy plc (AIM: BLOE)
· Brazil Tungsten Holdings Limited
· Copper Bay plc
· Elephant Oil Limited
· Impact Oil & Gas Limited
· Mafula Energy Limited
· MedGold Resources Corp (TSXV:MED)
· Minergy Limited
· New Horizon Oil & Gas Limited (trading as T5)
· Predator Oil & Gas Holdings plc (LSE:PRD)
· Rift Resources Limited
· Royal Road Minerals Limited (previously Tigris Resources) (TSXV:RYR)
· TAG Oil (TSX:TAO)
The Board of Directors will continue to introduce further equity positions
to the Company to enable additional diversification of the portfolio. It is
anticipated that these will continue to be primarily within the natural
resources sector.
Notice of AGM
Notice is hereby given that the AGM of the Company will be held at the
offices of Shakespeare Martineau at 60 Gracechurch Street, London, EC3V 0HR
on 30 September 2019 at 11.30am. The notice of AGM will shortly be available
on the Company's website, together with the audited report and accounts.
Brian Rowbotham
Non-Executive Chairman
The Directors of the issuer are responsible for the content of this
announcement.
For further information please contact:
Hot Rocks Investments plc
Gavin Burnell: 0207 264 4444
Peterhouse Capital Limited
Guy Miller: 020 7220 9796
HOT ROCKS INVESTMENTS PLC STATEMENT OF COMPREHENSIVE INCOME
YEARED 31 MARCH 2019
Note 2019 2018
Continuing Operations GBP GBP
Revenue - -
Foreign exchange gain/(loss) on 20,897 (20,656)
financial assets at fair value through
profit and loss
Operating expenses (50,060) (48,369)
Share based payments expense - (115,600)
Movement in fair value of financial (31,796) (52,604)
assets through profit and loss
Other gains - sale of financial assets 35,572 17,922
at fair value through profit and loss
Impairment (10,000) -
_______ _______
Operating Loss (35,387) (219,307)
Finance income 11 9
_______ _______
Loss before Income Tax (35,376) (219,298)
Income tax expense - -
_______ _______
Loss for the Year attributable to equity (35,376) (219,298)
holders
_______ _______
Other Comprehensive Income
Items that may be Reclassified
Subsequently to
Profit or Loss
Fair value change in value on - 78,469
available-for-sale financial assets
_______ _______
Total Comprehensive (loss) for the Year (35,376) (140,829)
attributable to equity holders
_______ _______
Earnings Per Share - Basic and Diluted (0.0) (0.1)
(expressed in pence per share)
_______ _______
HOT ROCKS INVESTMENTS PLC STATEMENT OF FINANCIAL POSITION
REGISTERED NUMBER 06163193 AT 31 MARCH 2019
Note As at As at
31 March 31 March
2019 2018
GBP GBP
Assets
Non-Current Assets
Financial assets at fair value through 421,521 811,206
profit and loss
_______ _______
421,521 811,206
_______ _______
Current Assets
Financial assets at fair value through 348,714 -
profit and loss
Cash and cash equivalents 46,745 16,710
_______ _______
395,459 16,710
Total Assets 816,980 827,916
_______ _______
Equity and Liabilities
Equity Attributable to Shareholders
Ordinary shares 173,602 173,602
Share premium account 1,174,631 1,174,631
Share options and warrants reserve 115,600 115,600
Other reserves - 144,678
Retained loss (776,871) (886,173)
_______ _______
686,962 722,338
Current Liabilities
Trade and other payables 130,018 105,578
_______ _______
Total Equity and Liabilities 816,980 827,916
_______ _______
HOT ROCKS INVESTMENTS PLC STATEMENT OF CHANGES IN EQUITY
YEARED 31 MARCH 2019
Attributable to Equity Shareholders
Ordinary Share Share Other Retained Total
shares premium option reserve loss
s and s
warran
ts GBP
GBP GBP reserv GBP
e GBP
GBP
Balance as at 1 173,602 1,174,63 - 66,209 (666,875 747,567
April 2017 1 )
______ ______ _______ ________
________ _______
Loss for the - - - - (219,298 (219,298
year ) )
Total Comprehensive - - - - (219,298 (219,298
Income ) )
______ ______ ______ _______ _______ _______
Fair value - - - 78,469 - 78,469
change on
available for
sale financial
assets
Warrants issued - - 115,60 - - 115,600
in the year 0
______ ______ _______ _______ _______
______
Total - - 115,60 78,469 - 194,069
Transactions 0
with Owners
______ ______ ______ _______ _______ ________
Balance as at 31 173,602 1,174,63 115,60 144,678 (886,173 722,338
March 2018 and 1 1 0 )
April 2018
______ _______ ________
________ ______ _______
Reclassification - - - (144,67 144,678 -
on 8)
implementation
of IFRS 9
Loss for the - - - - (35,376) (35,376)
year
______ ______ ______ _______ _______ _______
- - - - - -
Total Comprehensive
Income
______ ______ ______ _______ _______ _______
Total
Transactions
with
Owners - - - - - -
______ ______ ______ _______ _______ ________
Recycling of - - - - - -
share options
Balance as at 31 173,602 1,174,63 115,60 - (776,871 686,962
March 2019 1 0 )
______ _______ ________
________ ______ _______
HOT ROCKS INVESTMENTS PLC STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2019
2019 2018
GBP GBP
Cash Flows from Operating Activities
(Loss) before income tax (35,376) (219,298)
Finance income (11) (9)
Unrealised foreign exchange loss/(gain) (20,897) 20,656
Impairment 10,000 -
Share based payments - 115,600
Gain on disposal of financial assets (35,572) (17,922)
through profit and loss
Movement in fair value of financial assets 31,796 52,604
through profit and loss
Decrease in other receivables - 720
(Decrease)/Increase in trade and other 24,337 4,082
payables
_______ _______
Cash Used in Operations (25,723) (43,567)
Interest paid - -
Income tax paid - -
_______ _______
Net Cash Used in Operations (25,723) (43,567)
_______ _______
Cash Flows from Investing Activities
Purchases of financial assets through (62,340) (5,869)
profit and loss
Proceeds from disposal of financial assets 118,098 53,930
through profit and loss
_______ _______
Net Cash Generated from Investing 55,758 48,061
Activities
_______ _______
Increase/(decrease) in Cash and Cash 30,035 4,494
Equivalents
Cash and cash equivalents at the beginning 16,710 12,216
of the year
_______ _______
Cash and Cash Equivalents at the End of the 46,745 16,710
Year
_______ _______
ISIN: GB00B1WV3198
Category Code: MSCH
TIDM: HRIP
Sequence No.: 19119
EQS News ID: 869175
End of Announcement EQS News Service
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