UK Markets open in 1 hr 46 mins

Igraine Plc - Interim Results for the Half-Year to 30 June 2022

·3-min read

THE DIRECTORS OF IGRAINE PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 594/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. BY PUBLICATION OF THIS ANNOUNCEMENT, THE INFORMATION SET OUT WITHIN IT IS DEEMED NOW TO BE IN THE PUBLIC DOMAIN.

23 September 2022

Igraine Plc
(“Igraine” or “the Company”)

Interim Results for the Half-Year to 30 June 2022

Igraine plc, Directors Statement,

I am pleased to present the interim results for Igraine plc (AQSE: KING) for the period ending 30 June 2022 which has represented a period that has proved productive, and exciting. The financial statements below have been approved by the Board of Directors and have not been reviewed by the Company’s auditors.

The Company continues to monitor the development of its maiden investment with Excalibur under the Co-Investment Agreement. Results to date have been positive as the Excalibur team progress commercialisation discussions with the preference being that of a trade sale.

Independent of our investment in EML, the Company is acutely aware of the volatility in global financial markets and is actively engaged in commercial discussions with businesses and opportunities that have fundamentally strong offerings, but to date the opportunities have lacked viable access to traditional means of capital investment during these uncertain times.

On behalf of the Board
Steve Winfield
Executive Director

INTERIM INCOME STATEMENT (UNAUDITED)
For the period ended 30 June 2022

Igraine plc

6 mths to

6 mths to

30 June

30 June

2022

2021

£ GBP

£ GBP

Revenue

0

0

Cost of Sales

0

0

Gross Profit/(Loss)

0

0

Other Operating Income

0

19,824

Administrative Expenses

(128,223)

(152,785)

Loss before Investment Activities

(128,223)

(132,962)

(Loss) before Amortisation of Preference Shares

(128,223)

(132,962)

Profit/(Loss) before Taxation

(128,223)

(132,962)

Taxation Expense

0

0

Total Comprehensive Income attributable to Equity Holders of the Company

(128,223)

(132,962)

STATEMENTS OF FINANCIAL POSITION (UNAUDITED)
As at 30 June 2022

Igraine plc

As at

As at

30 June

30 June

2021

2022

£ GBP

£ GBP

Assets

Non-current assets

Property, plant and equipment

2,089

1,048

Investments

615,113

615,113

617,202

616,161

Current assets

Trade and other receivables

148,302

1,450,284

Cash and cash equivalents

765,723

88,459

914,025

1,538,742

Total assets

1,531,227

2,154,903

Equity and liabilities

Equity

Issued share capital

588,785

587,166

Share Premium

1,946,995

166,268

Other reserves

46,116

-

Retained earnings

(1,300,926)

(811,673)

1,280,970

(58,240)

Non current liabilities

Loans and borrowings

43,788

50,000

Current liabilities

Trade and other payables

206,469

2,163,143

Total liabilities

250,257

2,213,143

Total equity and liabilities

1,531,227

2,154,903

THE DIRECTORS OF THE COMPANY TAKE RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT.

Enquiries

Company:
Steve Winfield (Executive Director)
Simon Grant-Rennick (Non-Executive Director)

AQSE Growth Market Corporate Adviser
Peterhouse Capital Limited
Guy Miller / Mark Anwyl
Tel: +44 (0) 207 469 0930