TIDMBARK
RNS Number : 1500X
Barkby Group PLC (The)
30 April 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR.
30 April 2021
The Barkby Group PLC
("Barkby" or the "Company")
Interim Results for the 26 weeks ended 31 December 2020
The Barkby Group PLC (AIM:BARK), the diversified business group,
announces its unaudited interim results for the period ended 31
December 2020.
Charles Dickson, Executive Chairman of the Barkby Group,
commented:
"Barkby has weathered the COVID-19 pandemic largely due to the
success of our highly cash generative commercial property
development business. Activity within that division is returning to
pre-pandemic levels with a number of new opportunities in the
pipeline.
As the economy reopens, our pubs and coffee business are poised
for significant growth and a return to profitability. All of our
pubs opened on the 12(th) of April for outside service only and
trading has been very encouraging. We are also seeing strong
accommodation bookings for May 17(th) onwards, which is a positive
sign for future demand.
The Group's investments in SleepHub and Verso Biosense are
performing well with both businesses recently announcing
significant new collaboration agreements.
Our diversified structure and strategy has allowed us to support
the most heavily impacted businesses without a significant increase
in external bank debt or equity funding from shareholders. As
previously announced, the Tarncourt lending facility, which was put
in place at the point of the IPO, has been increased to GBP5m to
provide further liquidity.
The Group is in a strong position to benefit from the further
lifting of government lockdown restrictions. We look forward to the
next 12 months with increasing confidence, while recognising
uncertainties remain."
OPERATIONAL HIGHLIGHTS
Commercial property division
-- Practical completion of Hastings development in August 2020
and completion of sale to Hastings Borough Council, with a net
balancing payment receipt of GBP1.8m.
-- Exchange of contracts to sell our site at Saffron Walden for GBP2.85m.
-- Exchange of contracts to acquire prime development site in Maldon, Essex.
-- Planning permission for 20,000 sq. ft. mixed use retail and
trade scheme received at Wellingborough.
Barkby Pubs
-- Reopenings in July and September were well supported and
demonstrated popularity and resilience of venues.
-- All six sites open for outside service on 12 April 2021 and
trading has been very encouraging.
-- Like-for-like sales down 3% between 1 July and 30 September
2020, however excluding July like-for-like sales were +21% in
August and +24% in September.
-- Like-for-like sales down 45% between 1 October and 31
December 2020 following re-imposition of trading restrictions.
-- Acquisition of a nine-year lease of The Harcourt Arms in September 2020.
-- Well positioned offering for general re-opening on 17(th) May
Life Sciences
-- Commercial launch of SleepHub in November 2020 with eight new
commercial partnerships secured post period end.
-- Vivoplex renamed to Verso Biosense and post-period end has
signed two collaboration agreements.
FINANCIAL HIGHLIGHTS
-- Revenue for the 26 weeks to 31 December 2020 was GBP7.8m,
with EBITDA loss of GBP1.2m and a net loss of GBP2.0m. This
includes start-up expenses of GBP0.5m incurred in relation to
Cambridge Sleep Sciences.
-- Following repayment of HSBC overdraft of GBP1.5m, GBP2.7m of
new facilities have been secured including a GBP1.5m increase in
the Tarncourt facility to GBP5.0m and an extension of its repayment
date to 30 June 2023.
-- Net cash available including undrawn facilities was GBP1.5m as at 31 March 2021.
CHAIRMAN'S STATEMENT
I am pleased to announce the interim results for The Barkby
Group PLC for the period ended 31 December 2020.
Over the last six months our primary focus has been the
wellbeing of our staff and customers, and I would like to thank our
team for their unwavering commitment during this unprecedented
period. Despite the obvious challenges that the first half of the
year presented, the team worked hard to position the business
appropriately and we are looking forward to the future with
confidence as the economy begins to unlock.
During the six months to 31 December 2020 our pub venues
reopened twice, in July and December, following the lifting of the
UK Government restrictions in place at that time. The Board was
encouraged by these reopening processes, which saw customers
returning across all venues, demonstrating the popularity and
resilience of our venues. The Board believes that this is a
positive indicator for when we are able to fully reopen.
The opportunities that Barkby is seeing in the hospitality
sector, in terms of available sites and potential business
acquisitions, are even stronger than the Board had anticipated at
the time of the Company's admission to AIM. The Board is confident
that the current dynamics in the hospitality property market will
allow the Group to secure new sites at significantly reduced rents
and with lower capital costs per site.
All of our pubs have now reopened for outside service only and
early trading has been very encouraging. We are also seeing strong
bookings from 17 May onwards and the Board is optimistic that
trading conditions will remain strong over the summer months due to
pent up demand and staycations.
At Centurian, a contactless test drive procedure was implemented
in response to lockdown restrictions, including personalised videos
sent to customers before site visits. A "click and collect" sales
model proved to be effective, and in many cases produced faster
purchase decisions. We also invested in our digital marketing and
social media platforms, which has aided the revenue growth.
Centurian was profitable at EBITDA level for the 26-week period
to 31 December 2020 and trade remains strong, however given the
uncertainty around consumer behavior we will continue to monitor
performance carefully.
The Group also continues to deliver on its strategy of investing
in growth businesses with the ability to disrupt. Investments in
SleepHub and Verso Biosense are performing well, with significant
commercial progress being made at both companies. I am particularly
excited about the potential of both businesses to supplement Group
earnings for FY2022.
Our liquidity remains strong and the diversification of the
business means that the Group is in a strong position to benefit
from the lifting of government restrictions. I look forward to the
next 12 months with increasing confidence.
Current Trading
Further to our trading update of 3 March 2021, the Group makes
the following updates:
Commercial Property Development
We are seeing the market return to pre-pandemic levels and we
have six major tenants due to sign agreements to lease units in two
of our pipeline development sites. We are also seeing more
opportunity in the market and are looking to significantly grow our
development pipeline over the next six months.
Saffron Walden
The land was acquired by the Company in 2010 and is still held
at book cost. A series of successful planning applications have
been made since the land was acquired, and the site now has
planning permission for the construction of 35 residential units.
We have exchanged contracts to sell the site for c.GBP2.85m which
will result in a profit on sale of GBP1.8m, which is expected to be
recognised in the current financial year. Completion of the sale is
expected during the summer of 2021.
Wellingborough
We have made a further planning application to add a drive-thru
fast-food restaurant on the front of the site to meet a
pre-identified requirement from a national branded operator.
Construction is due to start in autumn 2021.
Maldon
We have now submitted a planning application to develop a 15,400
sq. ft. mixed-use retail and trade scheme at the site. We are
planning to start construction towards the end of the year.
Huntingdon
We submitted a planning application for a 30,000 sq. ft trade
scheme at Huntingdon last year and have subsequently amended the
application to take into account the change in tenant requirements.
We expect to receive planning this year and commence works in 12
months' time.
Further opportunities
We are currently in legal negotiation to acquire a further
development site in the South East. We are also actively exploring
opportunities to significantly expand the real estate side of our
business, which we believe is core to the Group's business and
where we see significant growth opportunities.
Barkby Pubs
G iven the recent Government guidance of 17(th) May for
reopening indoor hospitality, we will be in a strong position to
benefit from restricted international travel, staycations, pent up
demand for hospitality and changing consumer behavior.
Workshop Coffee
We are seeing a very encouraging pickup in wholesale revenues as
venues reopen. We are planning to reopen two of our retail
locations around the 17 May as lockdown restrictions are lifted.
Whilst the pandemic has seen excellent growth in Workshop's online
platform, the Board are optimistic that we can also return to
strong growth across our retail business once restrictions are
lifted fully.
Life Sciences
Cambridge Sleep Sciences Ltd ('CSS')
Disruption to sleep during the COVID-19 pandemic has been widely
reported. According to The Telegraph, the British Sleep Society
found 70% of British people aged 40 to 63 have reported changes to
their sleep patterns during the pandemic.
The need for help to restore natural sleep patterns has never
been greater and the opportunity for CSS is significant. P&S
Intelligence state that the global sleeping aids market size was
$78.7 billion in 2019, and it is projected to witness a CAGR of
7.1% during the period 2020 to 2030.
Since our last update, SleepHub has announced three new
partnerships to enable it to capitalise on this market
opportunity.
Probitas Technologies, a specialist IT distributor across EMEA,
will initially be offering SleepHub to the Portuguese, Spanish and
French markets. Health and wellbeing ecosystem creators, Nexus
Digital Technology, will make SleepHub available as part of their
health and wellbeing app. Finally, My Benefits World will be making
SleepHub available to thousands of employees through its online
employee benefits solution.
These partnerships follow the recent announcement of the new
collaboration agreement between CSS and Parkinson's Concierge, to
help address sleep issues associated with Parkinson's Disease.
We are exploring licensing opportunities for the IP of SleepHub.
We have had discussions with several potential partners and see
this as a significant revenue source as we develop the IP further.
CSS is currently developing a second generation of SleepHub
products and expects these to be available in Q3 2021. These will
likely include wireless earbuds, a CSS App and further technology
enhancements to the product experience.
Verso Biosense Ltd
Our female health investment, Verso Biosense, has continued to
make excellent progress. Engineering breakthroughs have allowed us
to progress faster than expected, resulting in major improvements
in next generation chip sets, monitoring functions, electronics and
garment design. We will be moving into a clinical study in Q2
2021.
Since our last update we have announced partnerships with
London's Women Clinic and Homerton University Hospital. Both
parties will collaborate with Verso, using its uterine monitoring
device to refine the technology and biosensing platform to meet the
needs of its fertility patients. Verso's platform captures critical
in-vivo, biosensing data for optimisation and personalisation of
IVF treatment, providing actionable insights for clinicians and
patients.
Liquidity
We have managed cash tightly through all three national
lockdowns and have increased cash headroom by refinancing the
current GBP3.5m Tarncourt facility into a new GBP5m facility with
Tarncourt, with an expiry of 30 June 2023.
Furthermore, the Group has taken a GBP450k loan secured against
the freehold of the Wellingborough site from James Dickson, a
significant shareholder in the Company and CEO of Workshop
Coffee.
The Group currently has net cash available of c.GBP1.5m as at 31
March 2021. The Board have taken the steps of consulting with their
major shareholders regarding a potential equity raise and our
shareholders have confirmed their continued support should the
Board wish to raise further capital.
Summary
The Group continues to deliver on its strategy to accelerate and
maximise opportunities within its existing businesses and to invest
in exciting businesses with the ability to disrupt. Having
weathered the COVID-19 pandemic we now look forward to trading
conditions improving across the most impacted parts of our
business.
The diversification of the business means that the Group is in a
strong position to benefit from the lifting of government lockdown
restrictions. Early trading signs are positive and we expect
further improvements as restrictions loosen further in the coming
weeks and months.
We would like to thank all our employees, suppliers,
shareholders and other stakeholders for their continued support
during the period and into the future and we look forward to the
next 12 months with confidence, while recognising uncertainties
remain.
Charles Dickson
Chairman
30 April 2020
Enquiries:
The Barkby Group PLC
Charles Dickson, Executive Chairman
Douglas Benzie, Chief Financial Officer
+44 (0) 20 7220
FinnCap (Nominated Adviser and Broker) 0500
Carl Holmes/Simon Hicks
Tim Redfern / Richard Chambers
+44 (0) 20 3757
Camarco (Financial PR) 4994
Jennifer Renwick/Jake Thomas
THE BARKBY GROUP PLC
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
26 weeks ended 31 December 2020
15 month
26 weeks period
ended ended
31-Dec-20 02-Jul-20
Note Unaudited Audited
GBP'000s GBP'000s
Revenue 7,795 12,048
Cost of sales (6,765) (11,188)
Gross profit 1,030 860
Administration expenses (2,663) (3,538)
Other income 41 367
Loss from operations (1,592) (2,311)
Finance income 49 125
Finance expense (466) (949)
Loss before tax (2,009) (3,135)
Corporation Tax expense - (4)
Loss and total comprehensive income for
the period (2,009) (3,139)
========== ==========
Loss for the period is attributable to:
Non-controlling interests (77) (44)
Owners of the Barkby Group Plc (1,932) (3,095)
---------- ----------
(2,009) (3,139)
========== ==========
Loss per share for loss attributable to Pence per Pence per
the owners of The Barkby Group Plc share share
Basic and diluted loss per share (1.43) (2.69)
All of the loss of both of the periods are from continuing
operations.
The above statement of profit or loss and other comprehensive
income should be read in conjunction with the accompanying
notes.
THE BARKBY GROUP PLC
UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2020
As at As at
31 Dec
2020 2 Jul 2020
Unaudited Audited
Notes GBP'000 GBP'000
Non-current assets
Fixed assets - owned 1,626 1,554
Fixed assets - leased 3,082 2,643
Intangible assets 8,614 8,355
Investments 2,542 2,042
Non-current receivable 167 127
---------- -----------
16,031 14,721
Current assets
Inventories 5,932 4,226
Trade and other receivables 169 466
Contract assets - 4,898
Other current assets 536 641
Prepayments 319 401
Cash and cash equivalents 665 306
---------- -----------
7,621 10,938
---------- -----------
Total assets 23,652 25,659
Current liabilities
Trade and other payables (1,534) (1,937)
Other current liabilities (3,343) (1,833)
Current borrowings (6,937) (8,999)
Current lease liabilities (592) (491)
Income tax payable (88) (107)
---------- -----------
(12,494) (13,367)
Non-current liabilities
Non-current borrowings (5,041) (4,899)
Provisions (38) (28)
Non-current lease liabilities (2,887) (2,349)
---------- -----------
(7,966) (7,276)
---------- -----------
Total liabilities (20,460) (20,643)
Net assets/(liabilities) 3,192 5,016
========== ===========
Equity
Share capital 1,179 1,164
Share premium 4,493 4,323
Merger reserve (422) (422)
---------- -----------
Issued equity 5,250 5,065
Profit and loss reserve (2,058) (49)
---------- -----------
Total equity and reserves 3,192 5,016
========== ===========
THE BARKBY GROUP PLC
UNAUDITED CONSOLIDATED CASH FLOW STATEMENT
26 weeks ended 31 December 2020
15 month
26 weeks period
ended ended
31-Dec-20 2-Jul-20
Unaudited Audited
GBP'000s GBP'000s
Cash flows from operating activities
Loss before tax (2,009) (3,135)
Adjustments to reconcile loss before tax
to net cash flows
Depreciation and amortisation 410 581
Adjustment of deferred consideration (35) -
Net finance expense 417 824
Movement in working capital 5,316 (5,491)
Net interest paid (371) (774)
Income tax paid (19) -
---------- ---------
Net cash flow from operating activities 3,709 (7,995)
---------- ---------
Cash flows from investing activities
Acquisition of subsidiaries and businesses (55) (549)
Purchase of investments (500) (1,950)
Purchase of property, plant and equipment (199) (194)
Purchase of intangible assets (230) (287)
---------- ---------
Net cash used in investing activities (984) (2,980)
Cash flows from financing activities
Proceeds from issue of shares 125 5,075
Proceeds from borrowings 11,219 8,985
Share issue transactions cost - (531)
Payment to shareholders - (375)
Repayment of borrowings (13,139) (2,981)
Repayment of lease liabilities (186) (393)
---------- ---------
Net cash raised in financing activities (1,981) 9,780
Net increase/(decrease) in cash and cash
equivalents 744 (1,195)
---------- ---------
Cash and cash equivalents at beginning of
period (1,174) 21
---------- ---------
Cash and cash equivalents at end of period (430) (1,174)
========== =========
All cashflows are from continuing operations.
THE BARKBY GROUP PLC
UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
26 weeks ended 31 December 2020
Share Share Merger Retained Non-controlling Total
capital premium reserve earnings interest
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 2 July 2020 1,164 4,323 (422) (49) - 5,016
Loss after income
tax and total comprehensive
income for the
period - - - (1,932) (77) (2,009)
Transfer of loss
attributable to
non-controlling
interest - - - (77) 77 -
--------- --------- --------- ---------- ---------------- --------
- - - (2,009) - (2,009)
Shares issued to
partially settle
deferred consideration
(Turf to Table
acquisition)(a) 2 58 - - - 60
Transactions with
shareholders in
their capacity
as shareholders
Exercise of warrants
(b) 13 112 - - - 125
At 31 Dec 2020 1,179 4,493 (422) (2,058) - 3,192
========= ========= ========= ========== ================ ========
The above statement of changes in equity should be read in
conjunction with the accompanying notes.
Notes:
(a) As part of the settlement of the deferred consideration in
relation to the Turf to Table acquisition the Group issued 260,869
ordinary shares on the 1 October 2020 to the Turf to Table vendors.
These ordinary shares were valued at GBP60,000 based on a 23p per
share price. A further GBP55,000 was settled in cash.
(b) On 24 December 2020 the Group allotted 1,452,347 shares to
Giles Clarke following the exercise of his warrants at a total
price of GBP125,000 cash.
THE BARKBY GROUP PLC
NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
26 weeks ended 31 December 2020
1. GENERAL
These unaudited consolidated interim financial statements are
for the 26 weeks ended 31 December 2020 (3 July 2020 to 31 December
2020). They do not include all the information required for full
annual financial statements and should be read in conjunction with
the consolidated financial statements for the 15 month period ended
2 July 2020 (1 April 2019 to 2 July 2020), which were prepared
under International Financial Reporting Standards ("IFRS") as
adopted by the European Union ("EU").
The statutory accounts for the 15 month period ended 2 July 2020
have been filed with the Registrar of Companies. Those accounts
have received an unqualified audit report and did not contain
statements or matters to which the auditors drew attention under
the Act.
The Directors are satisfied that the Company has adequate
resources to continue in operational existence for the foreseeable
future. Accordingly, these interim financial statements have been
prepared on a going concern basis as the Directors are of the
opinion that the Company has sufficient funds to meet their ongoing
working capital and committed capital expenditure requirements. A
detailed disclosure outlining going concern considerations was
provided in the statutory accounts for the 15 month period ended 2
July 2020. The Directors performed their going concern review as at
31 March 2021 and have concluded that no matters have arisen since
that date to change the conclusion of the review.
The interim financial information is unaudited, no dividend has
been declared or paid in this interim period.
2. ACCOUNTING POLICIES
The principal accounting policies and methods of computation
have remained unchanged from those used in the preparation of the
financial statements for the 15 month period ended 2 July 2020 and
are expected to be used for the financial statements for the 52
week period ending 1 July 2021.
3. LOSS PER SHARE
15 month
26 weeks period
ended ended
31-Dec-20 2-Jul-20
Unaudited Audited
Number Number
of shares of shares
Weighted average number of ordinary
shares in issue 135,422,389 114,896,986
Dilution for warrants outstanding 3,104,138 1,221,341
------------ ------------
Diluted weighted average number of
shares 138,526,527 116,118,327
GBP'000s GBP'000s
Loss after income tax (2,009) (3,139)
Non-controlling interest( 131 44
Loss after income tax attributable
to the owners of The Barkby Group Plc (1,878) (3,095)
============ ============
pence pence
Basic and diluted loss per share (1.39) (2.69)
4. PROPERTY, PLANT AND EQUIPMENT
Property, plant Land Leasehold Plant and Computer Fixtures
and equipment and buildings improvements equipment equipment and fittings Total
Net book value
GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s
At 3 July 2020 669 344 122 115 304 1,554
Additions - 10 158 30 18 216
Depreciation
charge (1) (41) (39) (18) (45) (144)
------------------ --------------- -------------- ----------- ----------- -------------- ---------
At 31 December
2020 668 313 241 127 277 1,626
Land and buildings includes GBP300,000 of freehold land.
Freehold land is not depreciated.
5. INTANGIBLE ASSETS
Product
design and Patents Computer
Intangible assets Goodwill development and trademarks software Total
Net book value
GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s
At 3 July 2020 8,037 69 249 - 8,355
Additions - 210 11 77 298
Depreciation charge - (14) (20) (5) (39)
---------------------- ---------- -------------- ----------------- ----------- ----------
At 31 December
2020 8,037 265 240 72 8,614
6. RIGHT-OF-USE ASSETS
Service
Right-of-use assets Buildings Pubs concessions Total
Net book value
GBP'000s GBP'000s GBP'000s GBP'000s
At 3 July 2020 325 2,301 17 2,643
Additions and
renewals 64 679 - 743
Covid - 19 relief (8) (65) (4) (77)
Depreciation charge (89) (130) (8) (227)
---------------------- ---------- --------- ------------- ---------
At 31 December
2020 292 2,785 5 3,082
In September 2020, the Group entered into a new 6 year lease for
The Harcourt Arms, a village pub with 125 covers and 10 rooms to
let. The resultant right-of-use asset was recognised at GBP679,000,
with a lease liability of GBP669,000 and a dilapidations provision
of GBP10,000 also being recognised.
7. CASH AND CASH EQUIVALENTS
31-Dec-20 2-Jul-20
Unaudited Audited
GBP'000s GBP'000s
Cash at bank 647 236
Cash in transit 13 69
Petty cash 5 1
---------- ---------
665 306
Reconciliation to cash and cash equivalents
at the end of the financial period
The above figures are reconciled to
cash and cash equivalents at the end
of the financial year as shown in the
statement of cash flows as follows:
Balances as above 665 306
Bank overdraft (1,095) (1,480)
Balance of cash and cash equivalents
per statement of cash flows (430) (1,174)
========== =========
8. LEASE LIABILITIES
Balance New leases Covid-19 Interest Balance
Lease liabilities at and renewals relief Re-payments charge at
2-Jul-20 31-Dec-20
GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s
Building leases 347 64 (8) (84) 11 330
Pub leases 2,460 669 (65) (74) 68 3,058
Kitchen equipment
leases 9 - - (8) - 1
Service concession
leases 24 - (4) (11) 5 14
Other leases - 85 - (9) - 76
--------- -------------- --------- ------------ --------- ----------
Total lease liabilities 2,840 818 (77) (186) 84 3,479
========= ============== ========= ============ ========= ==========
Reported as
Current lease liabilities 491 592
Non-current lease
liabilities 2,349 2,887
--------- ----------
Total lease liabilities 2,840 3,479
========= ==========
As described in note 6. Right-of-use assets, the Group entered
into a new lease for The Harcourt Arms in September 2020. The lease
liability recognised at commencement of the lease was
GBP669,000.
The Group also renewed one of its building leases in the period
ended 31 December 2020 resulting in a renewed lease liability of
GBP64,000.
9. BORROWINGS
Balance Proceeds Balance
Borrowings at of borrowings Repayments at
2-Jul-20 31-Dec-20
GBP'000s GBP'000s GBP'000s GBP'000s
Bank overdrafts 1,480 1,095 (1,480) 1,095
Bank loans 332 1,000 (17) 1,315
Vehicle finance 3,378 7,532 (7,113) 3,796
Other loans 6,385 - (4,289) 2,097
Loans from related parties 2,323 1,592 (240) 3,675
--------- --------------- ----------- ----------
Total borrowings 13,898 11,219 (13,139) 11,978
========= =============== =========== ==========
Reported as
Current liabilities 8,854 6,937
Non-current liabilities 5,044 5,041
--------- ----------
Total borrowings 13,898 11,978
========= ==========
In July 2020, the Group borrowed GBP1m from HSBC under the UK
Government's Coronavirus Business Interruption Loan Scheme. The
loan provided extra liquidity to support, in particular, the
Group's Hospitality and Consumer division after a period of severe
disruption due to Covid-19.
The completion in August 2020 of the Group's Hastings
development and subsequent collection of the resulting trade
receivables enabled other loans totalling GBP4.2m at 2 July 2020 to
be repaid in the period ended 31 December 2020.
The Group has access to a term loan facility with Tarncourt
Investments LLP, a related party. During the period ended 31
December 2020, the Group drew down GBP1.6m from the facility. The
GBP3.5m facility was due to expire in July 2021, but has been
refinanced into a new GBP5 million facility which now expires on 30
June 2023. The balance owed on this facility is presented as a
non-current liability at both 2 July 2020 and 31 December 2020.
10. SHARE CAPITAL
Issued and fully paid:
31-Dec-20 2-Jul-20 31-Dec-20 2-Jul-20
No. of shares No. of shares GBP'000s GBP'000s
Ordinary shares of
GBP0.00860675675675676
each 136,948,282 135,235,066 1,179 1,164
================== ================== ============= ==============
On 1 October 2020 the Group issued and allotted 260,869 ordinary
shares in partial settlement of the deferred consideration relating
to the Turf to Table acquisition. For the purposes of this
settlement the shares were valued at 23p each giving a total of
GBP60,000 of equity settled deferred consideration. In addition to
the shares, the Group paid a further GBP55,000 cash. The total
value of this settlement of GBP115,000 compared to the existing
balance payable of GBP150,000 resulting in a credit of GBP35,000
being taken to profit of loss in the period ended 31 December
2020.
On 24 December 2020 the Group issued and allotted 1,452,347
ordinary shares following the exercise of warrants by Giles Clarke.
The Group received GBP125,000 cash from the exercise of the
warrants.
11. COPIES OF INTERIM REPORT
Copies of the interim report are available to the public from
the Company at 115B Innovation Drive, Milton Park, Abingdon,
Oxfordshire, OX14 4RZ and are available on the website at
www.barkbygroup.com.
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