1st Sep 2015 10:10
MITHRIL CAPITAL PLC
("Mithril" or "the Company")
Interim Report for the period ended 30 June 2015
Mithril (AIM: MITH), announces its unaudited interim financial results for the period ended 30 June 2015.
Period highlights
· On 22nd December 2014, the Company was successfully admitted to the Standard Segment of the Official List and to trading on the London Stock Exchange's Main Market
· Raised £3.4 million cash (gross) through the listing of 128,250,000 new ordinary shares
· On 29 May 2015 Mithril announced a change of strategic focus to concentrate on acquisition targets within the TMT (technology, media and telecommunications) sector.
Peter Redmond, Chairman of Mithril, commented: "The admission of Mithril to the Standard List in December has given the Company the funding and profile to allow the consideration of a wide range of possible acquisitions. In particular, the change in focus to the TMT that was announced in May has opened up many new exciting targets.
We continue to consider a number of possible acquisitions which I believe will create significant shareholder value if successfully completed and I look forward to updating the market when further progress is made."
Enquiries
Mithril Capital plc | www.mithril-capital.com |
Rodger Sargent, Peter Redmond | Tel: 020 7933 8787 |
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Walbrook PR Ltd | Tel: 020 7933 8787 or [email protected] |
Paul McManus | Mob: 07980 541 893 |
Introduction
I am pleased to present the unaudited interim results for the period ended 30 June 2015. During this period, Mithril generated a loss of £122,872, the vast majority relating to the formation of the Company and its admission to the Standard List. Cash assets at the period end were over £3.3 million.
Mithril floated on to the Standard Listing of the Official List on the London Stock Exchange on 22nd December 2014. The Company was created to undertake an acquisition of a company or business with a focus on the natural resources sector, and raised £3.4 million cash (gross) through the issue of new ordinary shares. Mithril has a total of 128,250,000 ordinary shares in issue.
On 29 May 2015 Mithril announced a change of strategic focus to concentrate on acquisition targets within the TMT (technology, media and telecommunications) sector.
Outlook
The change in focus to concentrate on targets within TMT sector has opened up many new exciting targets. We continue to evaluate a number of possible acquisitions which I believe will create significant shareholder value if successfully completed and I look forward to updating the market when further progress is made.
Peter Redmond
Chairman
28 August 2015
INTERIM STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD FROM 17 SEPTEMBER 2014 TO 30 JUNE 2015
|
| Period ended |
|
| 30.06.2015 |
|
| (Unaudited) |
| Notes | £ |
|
|
|
Revenue | 2 | - |
|
| ------------------- |
Gross profit |
| - |
|
|
|
General & administrative expenses |
| (128,263) |
|
| ------------------- |
Loss from operations before interest |
| (128,263) |
|
|
|
Interest income |
| 5,391 |
|
| -------------------- |
Loss before tax |
| (122,872) |
|
|
|
Tax |
| - |
|
| --------------------- |
Retained Loss after tax for the period |
| (122,872) |
|
| ============= |
|
|
|
Retained loss attributable to: |
|
|
Owners of the company |
| (122,872) |
|
| ------------------- |
Loss for period |
| (122,872) |
|
| ============= |
Total comprehensive loss attributable to: |
|
|
Owners of the company |
| (122,872) |
|
| --------------------- |
Total comprehensive loss for the period |
| (122,872) |
|
| ============= |
|
|
|
Loss per share |
|
|
Basic and diluted | 3 | (0.001) |
|
| ============= |
INTERIM STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2015
|
| As at |
|
| 30.06.2015 |
|
| (Unaudited) |
| Notes | £ |
ASSETS |
|
|
|
|
|
Current assets |
|
|
Trade and other receivables |
| 22,500 |
Cash and cash equivalents |
| 3,317,528 |
|
| ----------------------- |
TOTAL ASSETS |
| 3,340,028 |
|
| ============ |
|
|
|
|
|
|
EQUITY |
|
|
Share capital | 4 | 1,282,500 |
Share premium reserve |
| 2,165,000 |
Retained loss |
| (122,872) |
|
| ------------------------ |
TOTAL EQUITY |
| 3,324,628 |
|
| ============ |
|
|
|
CURRENT LIABILITIES |
|
|
Trade and other payables |
| 15,400 |
|
| ---------------------- |
TOTAL EQUITY AND LIABILITIES |
| 3,340,028 |
|
| ============ |
|
|
|
INTERIM STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD FROM 17 SEPTEMBER 2014 TO 30 JUNE 2015
|
|
|
|
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|
| Share |
|
|
| Share | premium | Retained | Total |
| capital | account | loss | equity |
| £ | £ | £ | £ |
|
|
|
|
|
Balance at 17 September 2014 | - | - | - | - |
Loss for the period | - | - | (122,872) | (122,872) |
|
|
|
|
|
Total comprehensive income for the period | - | - | (122,872) | (122,872) |
Share capital issued | 1,282,500 | 2,165,000 | - | 3,447,500 |
Balance at 30 June 2015 | 1,282,500 | 2,165,000 | (122,872) | 3,324,628 |
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INTERIM STATEMENT OF CASH FLOW
FOR THE PERIOD FROM 17 SEPTEMBER 2014 TO 30 JUNE 2015
| Period ended |
| 30.06.2015 |
| £ |
| (Unaudited) |
Cash flow from operating activities |
|
Loss for the period | (122,872) |
Interest income | (5,391) |
| ------------------------- |
Operating cash flows before movements in working capital | (128,263) |
|
|
Increase in receivables | (22,500) |
Increase in payables | 15,400 |
| ---------------------- |
Net cash flow from operating activities | (135,363) |
|
|
Cash flow from investing activities |
|
Interest income | 5,391 |
| ------------------------ |
Net cash flow from investing activities | 5,391 |
|
|
Cash flow from financing activities |
|
Net proceeds from issue of share capital | 3,447,500 |
| ------------------------ |
Net cash flow from financing activities | 3,447,500 |
|
|
Net cash inflow for the period | 3,317,528 |
| ---------------------- |
|
|
Cash and cash equivalents at start of period | - |
| ----------------------- |
Cash and cash equivalents at end of period | 3,317,528 |
| ============ |
|
|
NOTES TO THE UNAUDITED INTERIM REPORT
FOR THE PERIOD ENDED 30 JUNE 2015
1. BASIS OF PREPARATION
The interim financial statements have been prepared on a going concern basis and in accordance with the recognition and measurement principles of International Financial Reporting Standards adopted for use in the European Union ("IFRS").
The interim financial statements for the period ended 30 June 2015 have not been audited and do not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006.
This Interim Financial Report was approved by the Board of Directors on 28 August 2015.
Statement of compliance
These condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard ('IAS') 34 - Interim Financial Reporting as adopted by the European Union. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements.
2. TURNOVER AND SEGMENTAL ANALYSIS
All of the Company's activity and income and expenses in the period ended 30 June 2015 were incurred in the United Kingdom, and relate to Mithril's ongoing investment activities.
3. LOSS PER SHARE
The calculation of the basis and diluted earnings per share is based on the following data:
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|
| Period to |
|
|
| 30.6.2015 |
Earnings |
|
|
|
Earnings for the purposes of basic earnings per share net loss for the |
|
|
|
period attributable to equity holders of the company |
|
| (130,972) |
Number of shares |
|
|
|
Weighted average number of ordinary shares in issue |
|
| 92,076,923 |
The denominator for the purpose of calculating the basic earnings per share has been adjusted to reflect all capital raisings.
NOTES TO THE UNAUDITED INTERIM REPORT
FOR THE PERIOD ENDED 30 JUNE 2015
4. | SHARE CAPITAL | Number of | Nominal value | ||
|
| shares | £ |
| |
| a) Issued and Fully Paid: |
|
|
| |
|
|
|
|
| |
| 19 November 2014 | 9,999,997 | 99,999 |
| |
| 28 November 2014 | 10,000,000 | 100,000 |
| |
| 22 December 2014 | 106,750,000 | 1,067,500 |
| |
| 16 December 2014 | 1,500,000 | 15,000 |
| |
| 17 September 2014 | 3 | 1 |
| |
|
| ----------------------------- | -------------------------- |
| |
| As at 30 June 2015 | 128,250,000 | £1,282,500 |
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| ============== | ============ |
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5. AVAILABILITY OF INTERIM RESULTS
Copies of the Interim Results for the period to 30 June 2015 are available from the Company's registered address and will be available on the Company's website, later today.
Related Shares:
BHRD.L