LOMBARD CAPITAL PLC
("Lombard" or the "Company")
The Directors wish to advise Shareholders of the following trading statement for the quarter ended 30 June 2020.
During the 3 months to 30 June 2020 the group’s subsidiary Waste and Recycling Solutions Limited completed its investment on the 8th June in the freehold property, Gaskell House for £900,000 plus VAT through cash and a loan facility of £450,000.The site was originally used for waste management and is been readied to deliver a promising return from this investment.
During the 3 months to 30 June 2020, the comprehensive loss for the period was GBP192,358. As a result, the Company remains in a position where it is dependent upon its ability to generate sufficient cash flows by issuing shares, the exercise of warrants and realisation of investments and other assets, in order to meet continued operational costs and hence continue trading.
Going forward the directors expect that the waste management investment will contribute to the group’s cashflow requirements.
The period has been dominated by the suspension of the Company’s shares on the 8 June. The directors and company secretary have worked tirelessly to assist AQSE in order to lift the suspension.
The directors of Lombard Capital Plc accept responsibility for this announcement.
For further information please contact:
Tel: 07718 883813
AQSE Corporate Adviser:
Alfred Henry Corporate Finance Limited
Nick Michaels: 020 7251 3762