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Marechale Capital Plc - Half-year Report

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1 December 2021

Marechale Capital plc

("Marechale Capital" or the "Company")

Half-yearly Results

Marechale Capital plc today announces its unaudited half-yearly results for the six months ended 31 October 2021.

Chairman’s Statement

I am delighted to report significant progress at Marechale Capital which continues to build on the success we reported in our 2020/21 final results published in August.

Financial and Operational highlights are as follows;

  • Reported NAV/share increases to 2.7p

  • Gross Profit up 75%

  • Profit before tax rises to £1.5m

  • Investment and financing round in Weardale Lithium completed

  • Luke Johnson acquires a significant shareholding

During the six months we generated a Gross Profit of £227,500 (2020: £130,000) and delivered a small Operating loss of £15,000 (2020: Operating loss £64,000). However, the gains on investments have resulted in a Profit before tax of £1,501,000 (compared to a Loss before tax in 2020 of £64,000).

The investment gains, which are unrealised, are primarily due to the £1.5m uplift on our investment in Weardale Lithium Ltd in the last six months and a £320,000 uplift on our investment in Future Biogas Group (in the six months to April 2021). The Board remains positive about these and the other investments the Company has made as part of its corporate finance activities.

Net Assets have increased from £0.99m to £2.24m. At 31 October 2021 we held cash at bank of £358,000.

The Marechale Capital team remain busy working on new and existing projects in the hospitality, clean energy and technology sectors.

Mark Warde-Norbury

Chairman

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

For further information please contact:

Marechale Capital
Mark Warde-Norbury / Patrick Booth-Clibborn

Tel: +44 (0)20 7628 5582

Cairn Financial Advisers LLP
Jo Turner / Sandy Jamieson

Tel: +44 (0)20 7213 0880

Income Statement (unaudited)

6 months ended 31 October

2021

2020

£

Revenue

497,194

175,837

Cost of sales

(269,759)

(45,999)

Gross profit

227,435

129,838

HMRC Furlough Income

-

30,655

Administrative expenses

(242,926)

(224,932)

Operating loss

(15,491)

(64,439)

Investment revenues

1,516,726

-

Profit/ (loss) before tax

1,501,235

(64,439)

Taxation

-

-

Profit/ (loss) after tax

1,501,235

(64,439)

Profit/ (loss) per share

(Pence)

(Pence)

- Basic

1.70

(0.1)

- Diluted

1.65

(0.1)

Balance Sheet (unaudited)

As at

31 October

31 October

2021

2020

Current assets

Available for sale investments

1,982,566

52,039

Trading investments

90,013

881

Trade and other receivables

41,884

28,162

Cash and cash equivalents

357,875

176,675

2,472,338

257,757

Current liabilities

Trade and other payables
PAYE
Bounce-back Loan

(56,950)
(10,283)
(47,500

(72,343)
(36,156)
(50,000)

Total current liabilities

(114,733)

(158,499)

Net assets

2,237,605

99,258


Equity

Capital and reserves attributable to equity shareholders

Share capital
Share premium

707,690
181,247

461,449
-

Reserve for own shares

(50,254)

(50,254)

Retained profits/ (losses)

1,465,594

(345,965)

Reserve for share based payments

53,328

34,028

2,357,605

99,258

Cash Flow Statement (unaudited)

6 months ended

31 October

31 October

2021

2020

£

£

Net cash from operating activities

Profit/ (loss) after tax

1,501,235

(64,439)

Provision for share based payments
Reverse unrealised gains on investments
Reverse interest paid

10,619
(1,517,036)
310

5,075

Operating cash flows before movements in working capital

(4,872)

(59,364)

Movement in working capital

Decrease in receivables

8,713

33,827

Increase/ (decrease) in payables

6,018

(5,020)

14,731

28,807

Operating cash flow

9,859

(30,557)

Investment activities

Expenditure on available for sale investments

(42,462)

-

Cash flow from investing activities

(42,462)

-

Financing
Share Capital
Bounce-back Loan
Interest paid

Net financing


160,000
(2,500)
(310)

157,190


-
50,000
-

50,000

Net (decrease)/ increase in cash and cash equivalents

124,587

19,443

Cash and cash equivalents at start of the period

233,287

157,232

Cash and cash equivalents at end of the period

357,874

176,675

Increase in cash and cash equivalents

124,587

19,443

This financial information has been prepared in accordance with IFRS and International Financial Reporting Interpretations Committee ('IFRIC') interpretations adopted by the European Union, and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, with the prior period being reported on the same basis.

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