3rd Jun 2016 13:43
LONDON (Alliance News) - YOLO Leisure & Technology PLC Friday said it continues to seek out further investment opportunities, following an "active" first half.
For the half year to end-March YOLO reported a pretax loss of GBP439,418, swung from a pretax profit of GBP31,307 a year before, mostly as a result of an GBP318,506 unrealised loss on remeasurement to fair value.
The company said that during the half year it raised GBP600,000 in a share placing. Following this it completed a further investment in television technology company Simplestream Ltd by investing GBP257,384 through a convertible loan note in Simplestream.
YOLO also has an investment in electronic sports company Gfinity PLC and audio platform AudioBoom Group PLC, both like YOLO listed on AIM.
"Our stated aim is to be a successful and profitable investment company by focussing on technology, travel, leisure and media businesses. We will achieve this by identifying early stage or turnaround opportunities that require investment and/or have potential for a reverse takeover. We will invest into businesses with content and delivery capability that engage customers, monetise the user experience and have potential to scale. Our philosophy is to find attractive businesses and projects that will create value for shareholders and utilise our expertise and network contacts," YOLO said in a statement.
Shares in YOLO Leisure were up 1.0% at 1.03 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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