Simian Global Plc Half-year Report
September 28 2017 - 5:32AM
UK Regulatory
TIDMSMG
28 September 2017
[NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN,
INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA,
THE REPUBLIC OF IRELAND OR JAPAN.]
Simian Global Plc
("Simian Global" or the "Company")
Half yearly report for the six months ended 30 June 2017
The Chairman's Report
In January 2017, the Company successfully completed a placing of 5,130,000
shares, raising GBP769,500 before expenses. Its shares were admitted to trading
on the Main Market on 10 January 2017. The Company made a total comprehensive
loss in the period of GBP154,000, which was mainly due to the advisor costs
relating to the reverse takeover.
Cash in hand at the period end was GBP443,000.
The Board have entered into a non-binding Letter of Intent to acquire the
entire issued share capital of GVC Holdings Limited, a company that specialises
in outdoor media in Asia. Due diligence on the target is still underway, and if
successful, the acquisition will result in the reverse takeover of the Company.
The Company's shares were suspended on 17 February 2017, and remain suspended
whilst the Company is preparing a new Prospectus.
On behalf of the board
Edward Ng
Director
28 September 2017
Interim Condensed Statement of Comprehensive Income
6 months Period from 6 months
Ended 26 February Ended
30 June 2016 to 30 June
Notes 2017 31 December 2016
2016
GBP'000 GBP'000 GBP'000
Turnover - - -
Cost of Sales - - -
Gross Profit - - -
Other Income / Expenditure - - -
Administrative expenses (155) (101) -
Loss before taxation (155) (101) -
Tax on loss on ordinary - - -
activities
Loss after taxation (155) (101) -
Loss and total comprehensive (155) (101)
loss for the period -
Basic and diluted earnings 5 (2.597p) (0.127p) -
per share
Interim Condensed Statement of Changes in Equity
Share Share Premium Retained Total
Capital Earnings Equity
GBP'000 GBP'000 GBP'000 GBP'000
Incorporation - - - -
Share Issue* 50 - - 50
Loss for the period - - - -
Balance at 30 June 2016 50 - - 50
Issue of shares* 60 - - 60
Loss for the period - - (101) (101)
Balance at 31 December 110 - (101) 9
2016
Issue of shares* 513 - 770
257
Loss for the period - - (155) (155)
Balance at 30 June 2017 623 257 (256) 624
* On 10 January 2017, the Company's shares were admitted to the Standard
Listing segment of the Official List of the UK Listing Authority and to trading
on the London Stock Exchange Main Market. In total these shares amounted to
6,230,000 Ordinary Shares.
Share capital is the amount subscribed for shares at nominal value.
Retained losses represent the cumulative loss of the Company attributable to
equity shareholders.
Interim Condensed Statement of the Financial Position
30 June 31 30 June
Notes 2017 December 2016
2016
GBP'000 GBP'000 GBP'000
Assets
Current assets
GVC Deposit 200 - -
Trade and Other Receivables - 24 -
Cash and Cash Equivalents 443 60 50
Total Current Assets 643 84 50
Total Assets 643 84 50
Equity and Liabilities
Share Capital 6 623 110 50
Share Premium Account 6 257 - -
Retained Earnings (256) (101) -
Total Equity 624 9 50
Current Liabilities
Trade and Other Payables 19 75 -
Total Liabilities 19 75 -
Total Equity and Liabilities 643 84 50
Interim Condensed Cash Flow Statement
6 Months Period 6 Months
Ended from 26 Ended
30 June 2017 February 30 June 2016
Notes 2016 to 31
December
2016
GBP'000 GBP'000 GBP'000
Cash flows from operating
activities
Operating loss (154) (101) -
Add: Depreciation - - -
Add: Foreign exchange - - -
movements
Add: Share Based Payments - - -
Reserve
Add: Loss from equity - - -
accounted investment
Changes in working capital
(Increase) / decrease in (200) - -
inventories
(Increase) / decrease in 24 (24) -
receivables
Increase / (decrease) in (56) 75 -
payables
Interest received - - -
- - -
Net cash flow from operating (386) (50) -
activities
Investing Activities
Decrease in Investments - - -
Acquisition of fixed assets - - -
Disposal of fixed assets - - -
Decrease / (Increase) in financial - - -
assets
Decrease / (Increase) in Loans - - -
Net cash flow from investing activities - - -
Cash flows from financing activities:
Net proceeds from issue of shares 6 513 60 50
Net proceeds from share premium 256 - -
Net cash flow from financing activities 769 60 50
Net cash flow for the period 383 10 50
Opening Cash and cash equivalents 60 50 -
Closing Cash and cash equivalents 443 60 50
Notes to the Interim Condensed Financial Statements
1. General Information
Simian Global plc ('the Company') is an investment company incorporated in the
United Kingdom. Details of the registered office, the officers and advisers to
the Company are presented on the Directors and Advisers page at the end of this
report. The information within these Interim condensed financial statements
and accompanying notes must be read in conjunction with the Audited annual
financial statements that have been prepared for the period ended 31 December
2016.
2. Basis of Preparation
These unaudited condensed consolidated interim financial statements for the six
months ended 30 June 2017 were approved by the board and authorised for issue
on 27 September 2017.
The basis of preparation and accounting policies set out in the Annual Report
and Accounts for the period ended 31 December 2016 have been applied in the
preparation of these condensed interim financial statements. These interim
financial statements have been prepared in accordance with the recognition and
measurement principles of the International Financial Reporting Standards
("IFRS") as endorsed by the EU that are expected to be applicable to the
financial statements for the year ending 31 December 2017 and on the basis of
the accounting policies expected to be used in those financial statements.
The figures for the six months ended 30 June 2017 and 30 June 2016 are
unaudited and do not constitute full accounts. The comparative figures for the
period ended 31 December 2016 are extracts from the 2016 audited accounts. The
independent auditor's report on the 2016 accounts was not qualified.
3. Segmental Reporting
In the opinion of the Directors, the Company has one class of business, being
that of an investment company. The Company's primary reporting format is
determined by the geographical segment according to the location of its
establishments. There is currently only one geographic reporting segment, which
is the UK. All revenues and costs are derived from the single segment.
4. Company Result for the period
The Company has elected to take the exemption under section 408 of the
Companies Act 2006 not to present the parent Company income statement account.
The operating loss of the Company for the six months ended 30 June 2017 was GBP
155,000 (2016:
loss of GBPNil, year ended 31 December 2016: GBP101,000). The current period
operating loss incorporated the following main items:
30 June 31 December 30 June
2017 2016 2016
(Unaudited) (Audited) (Unaudited)
GBP'000 GBP'000 GBP'000
Accounting and administration fees 22 - -
Admission expenses - 56 -
Rent fees 7 - -
Legal and professional fees - 45 -
Listing costs 103 - -
Other expenses 22 - -
5. Earnings per Share
Earnings per share data is based on the Company result for the six months and
the weighted average number of shares in issue.
Basic loss per share is calculated by dividing the loss attributable to equity
shareholders by the weighted average number of ordinary shares in issue during
the period:
30 June 31 30 June
2017 December 2016
2016
GBP GBP GBP
Loss after tax (154,415) (101,000) -
Weighted average number of ordinary shares in 5,945,000 79,419,355 50,000,000
issue
Basic and diluted loss per share (pence) (2.597p) (0.127p) -
Basic and diluted earnings per share are the same, since where a loss is
incurred the effect of outstanding share options and warrants is considered
anti-dilutive and is ignored for the purpose of the loss per share calculation.
There were no potential dilutive shares in issue during the period.
6. Share Capital
Ordinary shares are classified as equity. Proceeds from issuance of ordinary
shares are classified as equity. Incremental costs directly attributable to the
issuance of new ordinary shares are deducted against share capital.
Allotted, called up and fully paid Number of Share Share
ordinary shares of 0.1p each shares Capital Premium
GBP GBP
Balance at 26 February 2016 50,000,000 50,000 -
Balance at 30 June 2016 50,000,000 50,000 -
Share issue - 2 August 2016 60,000,000 60,000 -
Consolidate shares - 3 August 2016 1,100,000 110,000
Balance at 31 December 2016 1,100,000 110,000 -
Share issue - 10 January 2017 5,130,000 513,000 257,000
Balance at 30 June 2017 6,230,000 623,000 257,000
7. Events Subsequent to 30 June 2017
There were no events subsequent to the period end.
8. Reports
This interim condensed financial statement will be available shortly on the
Company website at www.simian global.com
END
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