24th Jun 2025 13:26
(Alliance News) - Gledhow Investments PLC on Tuesday reported a narrowed pretax loss for the six months to March 31, and announced plans to change its auditor and hold a general meeting to approve a proposed share sub-division.
The London-based investment firm, which focuses on small to medium companies said its pretax loss for the first half of its financial year shrank to GBP51,190 from GBP115,510 a year before. The improvement came despite net unrealised losses of GBP153,816 on investments.
Revenue from the sale of investments rose to GBP379,823 from GBP282,127, though the firm still posted a gross loss of GBP16,933 after accounting for the cost of sales. Administrative expenses increased to GBP34,257 from GBP27,604.
Gledhow held GBP217,020 in cash at the period end and said the unaudited cash balance as of June 24 stood at around GBP402,000. Total current assets stood at GBP946,320, while net assets were GBP938,248.
The company highlighted a positive movement in the share price of Coinsilium Group Ltd, in which it holds warrants with a combined gross profit potential of over GBP2.0 million based on the most recent closing bid price.
Separately, Gledhow said it has appointed Pointon Young LLP as its new auditor for the year ending September 30, 2025. The previous auditor, BKL Audit LLP, stepped down after refocusing its audit services away from Aquis-listed firms.
Gledhow also announced that a general meeting will be held on July 23 to approve a share sub-division. The company proposes to split each existing ordinary share of 1 pence into one new ordinary share of 0.1 pence and one deferred share of 0.9 pence.
The move is intended to enable the conversion of previously issued convertible loan notes priced below the current nominal share value.
The company said the sub-division would not dilute existing shareholders and that the new ordinary shares would retain the same rights. The deferred shares will carry no voting or dividend rights.
Directors recommended shareholders vote in favour of the resolutions, which also include updates to the Articles of Association and renewed share capital issuance authorities.
Shares in Gledhow more than doubled to 1.05 pence on the Aquis Stock Exchange on Tuesday.
By Eva Castanedo, Alliance News reporter
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