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Quoted Micro 20 March 2023
AQUIS STOCK EXCHANGE
MBH Corporation (LON: MBH) joined the Access segment of the Aquis Stock Exchange on 13 March. The shares have previously been traded on the Frankfurt Stock Exchange and the Dusseldorf Stock Exchange. Trading started on Aquis at 7p (5p/9p) and it stayed at that price all week. There were no trades. MBH has subsidiaries in a wide variety of sectors. They include, education, construction, transport, health, engineering, property, leisure and food.
Capital for Colleagues (CFCP) is investing £1m in A ordinary shares in automotive engineering and manufacturing start-up Morris Commercial, as part of an £8m investment round. The investment is in three tranches with an initial outlay of £500,000. The full investment will be made by the end of 2023. The initial product is the Morris JE electric van, which is based on the design of the Morris J-Type van.
Quantum technology investment company Quantum Exponential Group (QBIT) welcomes the Chancellor of the Exchequer’s plan for quantum technology. There will be investment of £2.5bn over ten years. This should help to increase investor interest in quantum.
Chapel Down Group (CDGP) believes that changes to UK duties are positive, because of the support for English sparkling wine producers. Chapel Down, along with Shepherd Neame (SHEP) have signed a partnership deal with The Boat Race, which happens on 26 March.
Macaulay Capital (MCAP) has taken over the management of the unquoted portfolio of Chelverton Asset Management.
Kasei Holdings (KASH) is still waiting for £350,000 from the February 2023 fundraising. Management hopes that this cash will be received in the next few days.
Coinsilium Group (COIN) is acquiring the advisory business and certain intellectual property assets of Tokenomi for £116,500 in cash and shares. There are four retained Web3 blockchain project clients with a further ten prospective clients. Revenues could be £551,000 over the next 12 months.
IamFire (FIRE) has subscribed a further £200,000 for convertible loan notes in WeShop, taking the total invested to £2.7m. The total amount invested in WeShop is £6.7m and there is the right to subscribe for a further £1.05m of loan notes. The conversion price is 200p. John Lewis and Sports Direct have recently become affiliated to WeShop.
Altona Rare Earths (ANR) has ended trading on Aquis. Trading starts on the standard list on 20 March. Forbes Ventures left Aquis on Friday, although it intends to acquire a litigation financing business and return to the quoted arena.
Silverwood Brands (SLWD) is still experiencing opposition to the transfer of shares in skincare products supplier Lush. Silverwood Brands holds the rights to the shares even if ownership is not registered.
Ananda Developments (ANA) has raised additional subscription funds at 0.3p a share, taking the total to £427,000.
Res Privata NV has sold its 3.83% stake in NFT Investments (NFT). Mark Horrocks has increased his shareholding in Lift Global Ventures (LIFT) from 7.1% to 11%.
EDX Medical (EDX) non-executive chairman Jason Holt bought 400,000 shares at 3025p each. Incanthera (INC) chief executive Dr Simon Ward has subscribed £115,000 for shares at 6.95p each.
Guanajuato Silver Company Ltd (GSVR) has secured a $5m silver and gold pre-payment facility, which replaces the current facility.
Snacks manufacturer S-Ventures (SVEN) says the audit for its figures for the year to September 2022 will last until the end of April, so trading in the shares will be suspended on 3 April.
Essentially Group (ESSN) joined Aquis on 17 March. The brief announcement claims that the prospectus is on the company’s website, but it is impossible to find.
AIM
Hurricane Energy (HUR) has agreed a bid from Prax Exploration & Production, which values the oil and gas producer at up to £249m. There will initially be a 3.32p a share transaction dividend and cash consideration of 0.83p a share, totalling 4.15p a share. There is then a supplementary dividend of 1.87p a share. Shareholders will also receive a deferred consideration unit worth up to 6.48p a share. The deferred consideration is based on 17.5% of future net revenues earned by Hurricane between 1 March 2023 and 31 December 2026. The deferred consideration will be paid twice a year in arrears.
MTI Wireless Edge (MWE) grew revenues of each of its three divisions and two of them made a higher profit contribution. An initial contribution from communication and monitoring systems developer PSK WIND Technologies, offset the loss of Russian distribution business. In 2022, group revenues improved from $43.2m to $46.3m, while underlying pre-tax profit rose from $4.04m to $4.32m. The total dividend is 3 cents a share. Net cash was $8.14m at the end of the year. The profitability of the Antennas division is recovering.
Cloud-based secure payments technology provider PCI-PAL (PCIP) grew interim revenues by one-third to £7.3m. North American growth was particularly strong. Total annualised contract value is £14.7m. The full year loss is likely to be around £2.2m. Legal costs due to the patent dispute meant that net cash fell to £1.9m, but it has risen since December. There should be no problem with the accounts at Silicon Valley Bank.
Digital coupons and loyalty technology provider Eagle Eye (EYE) reported the expected interims and says that full year results will be better than expected. The pre-tax profit forecast has been edged up from £3.5m to £3.8m and the 2023-24 figure has been edged up to £5m. Net cash could reach £5.3m at the end of June 2023. There should not be any problems arising from the Silicon Valley Bank collapse, although there are still cash deposits in the bank.
Verditek (VDTK) has signed an exclusive supply agreement to supply solar panels to building and roofing products supplier Lindab Profil AB. They will be sold in the Nordic and eastern European markets. The exclusivity depends on the sale of panels of 850kw in 2023.
Cordel (CRDL) has won an important contract with Amtrak in the US. The six-and-a-half year contract is valued at $6.7m. There will be $1m recognised in 2022-23 and $2m in 2023-24, with rest coming in the remaining time of the contract. Cordel’s technology will be used to capture and manage data on clearances of surrounding rail infrastructure.
Redx Pharma (REDX) merger partner Jounce Therapeutics has received an unsolicited offer from Concentra Biosciences. Cancer treatments developer Redx Pharma recently announced the merger with Jounce Therapeutics and the AIM company’s shareholders would own 63% of the enlarged group.
Purplebricks (PURP) has received a possible offer from Strike Ltd, although it is not yet part of the formal sale process and has not entered into a non-disclosure agreement.
Reabold Resources (RBD) has been approached by Kamran Sattar on behalf of an affiliate of Portillion Capital which could lead to a bid at a 10% premium to the previous day’s closing price of 0.2035p. The board believes this offer undervalues the oil and gas investment company. It recently sold the Victory gas discovery to Shell and intends to return £4m to shareholders.
Circle Property (CRC) announced a return of capital through a B share issue with a second distribution to follow. The company has nearly completed the sale of its property portfolio. The first distribution of 158p a share (£46.2m) will be on 21 March. A second distribution of 58p a share should be made in April. There will be a much smaller distribution when the final disposal is completed. An incentive payment of £620,000 is being paid to each executive.
Digital mental health company Kooth (KOO) has won a significant contract in California covering 13-25 year olds. Services will be provided to the Behavioural Health Virtual Services Platform, and they will launch in January 2024. Specific terms are still to be finalised, but there should be a material impact on annualised recurring revenues from 2024.
Condor Gold (CNR) is entering the end of the first phase of the process to sell the La India gold project in Nicaragua. There are three formal expressions of interest, including two non-binding offers, with more likely to be received. The project requires $105.5m of investment and has an estimated NPV (5%) of $86.9m.
MAIN MARKET
Structural steel supplier Severfield (SFR) is expanding in Europe through the acquisition of steel fabrication company Voortman Steel Construction Holding for €24m. The Netherlands-based company will provide greater access to the northern European market.
Data integrity and banking integration software provider Gresham Technologies (GHT) is accelerating the growth of its Clareti software. Group revenues grew from £37m to £48.7m in 2022. That was helped by currency movements and a full year contribution from post-trade processing software supplier Electra, but there was still strong organic growth. The fastest growth was in the US. Pre-tax profit improved from £4m to £6.9m. Singers forecasts a 2023 pre-tax profit of £7.4m. with flat earnings due the corporation tax rate rise, increasing to £9.6m next year.
Harwood Capital has increased its stake in RM (RM.) from 8.88% to 10.4%, including 9.18% held by Rockwood Strategic (RKW). Theodore W King’s stake has risen from 7.36% to 8.25%.
Andrew Hore
Ananda Developments #ANA – New appointments at DJT Plants Limited
Ananda is pleased to announce additions to the team within its operating subsidiary, DJT Plants. Since planting of the first seeds in February, operations at site have become more complex and, under the guidance of Stuart Piccaver, the team has been expanded to include:
- Mark Spurdens MBA, BSc, CMgr, FIFST – COO; Mark was previously Operations Director of two large UK horticultural businesses supplying the main supermarket chains. He brings this experience to build DJT Plant’s medical cannabis business. He has a strong track record in building cohesive and effective teams and in developing high care production facilities within complex supply chains.
- Steve Murray BSc, BASIS – Head of Cultivation; Steve was previously managing 1.4Ha of medical cannabis growing in the UK for a cultivator under contract to GW Pharmaceuticals. He has set up and run large scale farming and intensive pharmaceutical grade production systems. His practical experience will be invaluable as DJT Plants moves towards commercial growing, subject to appropriate Home Office licencing.
- Dr. Nigel Gale – Head of Plant Science; Nigel has extensive experience in Good Agricultural and Collection Practice (GACP) and EU-GMP with a proven track record in developing genetics and successfully cultivating for EU markets, including developing top-selling genetic cultivars for both the medical and recreational cannabis markets in Canada. Nigel has moved to the UK from Canada, where he was Head/Director of Cultivation for several Canadian Licensed Producers. During his time in Canada, Nigel regularly managed the cultivation of up to 100,000 cannabis plants. Nigel is also an Associate Editor of Frontiers in Soil Sciences and the International Journal of Plant Biology.
Mark, Steve and Nigel have already commenced work on site and have begun to fine tune both the nutrition and watering regimes for the plants. Each strain has its own needs, and these are now being identified and accounted for. The team is assessing the plants for genetic traits, which can be done visually by an experienced eye by analysing the size and shape of the leaves on each plant.
Preparations are now being made for the movement of plants from the research facility to the multi-chapelles, the structures where DJT Plants will be cultivating in trial commercial conditions. The team is also engaging with DJT Plants’ consultants on the commercial storage and manufacturing facility plans.
Melissa Sturgess, Chief Executive Officer of Ananda commented; “A warm welcome from all of us at Ananda and DJT to Mark, Steve and Nigel. Building a best-in-class multidisciplinary team will be the foundation of our commercial success and we particularly look forward to being able to draw on their vast combined experience where it will matter; excellence in plant science, excellence in practical execution and excellence in managing a complex business with, as I like to say, lots of moving parts. A good strategy is of little use without first class practical execution.”
Corporate
There remains one outstanding item to complete the Circular to shareholders for the purchase of the 50% of DJT Plants not already owned by Ananda. Once final sign off is obtained, the Circular will be posted to shareholders and the General Meeting called.
-Ends-
The Directors of the Company accept responsibility for the contents of this announcement.
| ANANDA DEVELOPMENTS PLC Chief Executive Officer Melissa Sturgess Investor Relations |
+44 (0)7463 686 497 ir@anandadevelopments.com |
| PETERHOUSE CAPITAL LIMITED Corporate Finance Mark Anwyl Corporate Broking |
+44 (0)20 7469 0930 |
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
About Ananda Developments
Ananda is an AQSE-listed medical cannabis company creating UK-based operations to grow and provide carbon zero, consistent, medical cannabis for the UK and international markets.
The UK medical cannabis market is predicted to be worth £450m by 2025 and the European market is predicted to be worth USD4.2bn by 2027.
Ananda Developments #ANA – Shareholder Update
Ananda’s ambition is to be a leading UK grower and provider of high quality, consistent, carbon zero medical cannabis for the UK and international markets.
The Directors of Ananda provide the following update to shareholders.
Commencement of medical cannabis cultivation
The first cannabis seeds were planted yesterday at Ananda’s 50% owned company, DJT Plants Limited’s (“DJT Plants”) medical cannabis research facility. Dr Hadar Less, DJT Plants’ Lead Geneticist, and team have now started the first stage of the research programme.
The research programme is designed to create a library of stable cannabis genetics in order to ‘match’ cannabis plant profiles with clinical indications. The research plan involves self-crossing a selection of cannabis strains for six generations and then conducting field trials in the multi-chapelle structures to determine which stable strains produce chemovars with desired metabolic profiles and which thrive in DJT Plants’ growing conditions.
Ananda’s ultimate ambition is to be a commercial grower and provider of high quality, consistent cannabis medicines. There are currently around 12,000 medical cannabis patients in the UK (up from around 3,000 when DJT’s licence was granted), currently being prescribed a combination of medical cannabis flower and oils. All of these unlicenced cannabis medicines are currently imported. The directors of Ananda believe that there is an unmet need for high quality, consistent medical cannabis grown in the UK, which meets the Medicines and Healthcare products Regulatory Agency (MHRA) Good Manufacturing Practice (GMP) standards.
Acquisition of the 50% of DJT Group Limited not already owned by Ananda (“Acquisition”)
The Acquisition process is largely complete, and the Company expects to post the relevant circular to shareholders shortly.
Since announcing the Acquisition, the parties (Ananda and Anglia Salads Limited) have been working as one team to execute the construction and commissioning of the research facility. Weekly Executive Committee calls take place and more recently Operations calls have also been initiated. As a result of the experience of the past eight or so months it has been decided by DJT Plants and Ananda that Stuart Piccaver and Simon Goddard will take the positions of Chairman of DJT Plants and CFO of DJT Plants, respectively. They will both also join the board of Ananda as executive directors. Initially it was contemplated that Stuart would be appointed as Ananda’s Joint CEO and that Simon would be Ananda’s CFO. However, it is the view of all parties that this revised structure will allow Stuart to be more focused on DJT Plants, as Ananda’s most important operating entity, whilst Melissa Sturgess will maintain responsibility for public company matters. Simon’s expertise in financial operations management is crucial and his energy is also agreed to be best focused at the DJT Plants level.
Melissa Sturgess, Ananda’s CEO, commented: “Since receiving our licence to grow medical cannabis for research in May 2021, our site team has reviewed and revised the plans which were submitted to the Home Office in October 2019, completed detailed drawings, finalised costings, commenced and completed construction and commissioned our medical cannabis research facility and multi-chapelle growing structures. Credit goes to Stuart Piccaver and his team, in particular Phil Hubbert, who have delivered this result. They have used their 25 plus years’ experience in constructing high-care horticultural facilities to ensure execution of this stage of the project. We do not underestimate the importance of team loyalty, local knowledge and the strength of existing supplier relationships which has seen timely construction during well-known COVID supply chain challenges.
We have all worked very well together as a cohesive and cooperative unit, over the past 8 months in particular. As we continue towards our clear objective of growing and providing high quality, consistent UK grown cannabis medicines to patients in need, we are mindful that we are transitioning from an ‘ideas’ company to an ‘operating’ company and that a results oriented, best in class multi-disciplinary team will be one of the keys to our success.”
Ananda Developments #ANA – Exercise of Warrants
EXERCISE OF WARRANTS
Ananda announces that 416,351 ordinary shares of 0.2p each in the Company (“Ordinary Shares”) have been issued following the exercise of warrants at 0.45p per share.
Application will be made for the new Ordinary Shares to be admitted to trading on the Access segment of the AQSE Growth Market and admission is expected to become effective on Tuesday, 8 February 2022.
Following this issue, the Company has 798,931,821 Ordinary Shares in issue, each share carrying the right to one vote.
This figure of 798,931,821 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Alan Green covers Petroteq #PQE and Ananda Developments #ANA on this week’s Stockbox Research Talks
Alan Green covers Petroteq #PQE and Ananda Developments #ANA on this week’s Stockbox Research Talks.
Ananda Developments #ANA – Exercise of Warrants
Ananda announces that 16,863 ordinary shares of 0.2p each in the Company (“Ordinary Shares”) have been issued following the exercise of warrants at 0.45p per share.
Application will be made for the new Ordinary Shares to be admitted to trading on the Access segment of the AQSE Growth Market and admission is expected to become effective on Tuesday, 11 January 2022.
Following this issue, the Company has 797,579,590 Ordinary Shares in issue, each share carrying the right to one vote.
This figure of 797,579,590 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Ananda Developments #ANA – Shareholder Update
Ananda’s ambition is to be a UK grower and provider of carbon neutral, consistent, high quality medical cannabis for the UK and international markets.
Since the Company’s update on 6 October 2021, works have continued on schedule at the medical cannabis research growing facility being constructed in the UK by DJT Plants Limited (“DJT Plants”), the Company’s 50% owned subsidiary.
Research facility construction
The construction of the research facility is near completion. Security fencing has been installed around the designated perimeter of the project area, the reservoir to hold required water is complete and the interior of the medical cannabis growing rooms is complete. Dr Hadar Less, the project’s lead geneticist, spent last week on site to finalise room by room lab requirements, plant nursery growing trollies and other details.
The initial 0.2 hectares of multi-chappelle growing tunnels have been constructed and the design for the plant layout within the units has commenced.
Ananda’s plan
As previously communicated to shareholders, Ananda will conduct a medical cannabis breeding and stabilisation programme designed to create a library of proprietary strains which exhibit metabolic profiles which thrive in local growing conditions and which are efficacious in the treatment of indications including epilepsy, neuropathic pain, scleroderma and Parkinsons disease, as well as for other indications. Subject to further licensing from the Home Office, it is intended to use these learnings to grow medical cannabis for commercial purposes.
As a result of the experience gained by Ananda’s partner, JEPCO, in growing medical cannabis from 2014-2017 for GW Pharmaceuticals, Ananda intends to grow in natural season with no artificial light or heat. The Directors believe that using the full natural spectrum of light will result in superior medical cannabis flower and enhance the opportunity to garner its full benefit. The plan also requires much lower levels of capital and operating expenditure and, in the opinion of the Directors, enables a more scalable business than would be required by the building of large glass houses with artificial light and heat. In addition, DJT Plants’ cannabis growing is expected to be zero carbon.
Ananda’s CEO Melissa Sturgess commented: “As we look to the North American experience of large facilities with their high capital requirements, high operating costs and businesses which are supply led rather than demand led, we see financial pressures. Ananda’s model is clear. We have a low capital, low operating cost model which focuses on patient demand and which we believe will deliver superior medicines with very strong margins.”
UK medical cannabis market
According to UK based medical cannabis advisory group, Maple Tree Consultants, there are now approximately 9,500 medical cannabis patients in the UK. Maple Tree predicts that this number will reach around 25,000 by the end of 2022. This growth is in line with the development of international medical cannabis markets which experienced slow growth immediately after legalisation, followed by increased and then rapid growth around year 3. Medical cannabis was legalised in the UK in late 2018. The Directors of Ananda are encouraged by the potential of the industry in the UK and the opportunity for Ananda. They are also greatly heartened to see medical cannabis becoming more widely acceptable and understood as an efficacious treatment for many health indications.
Sale of shareholding in Liberty Herbal Technologies Limited
Ananda has sold the Company’s holding of 1,642,857 ordinary shares in Liberty Herbal Technologies Limited (“LHT”), the developer of ready to use cannabis sachets for portable vaporisers. The consideration for the disposal is £100,000 in cash, which has been received by the Company.
The proceeds of the disposal will be used to support the ongoing construction, staffing and operation at the medical cannabis research growing facility being developed in the UK by DJT Plants, which is the focus of Ananda’s attention. As announced on 8 June 2021, the Company is in the process of acquiring the remaining 50% of DJT Plants that it does not already own. (https://anandadevelopments.com/wp-content/uploads/2021/09/08062021-Proposed-100-ownership-of-DJT-Plants-Limited.pdf).
Ananda Developments #ANA – Interim Results to 31 July 2021
Unaudited Interim Results for the six months ended 31 July 2021
The Directors present the interim results of Ananda Developments Plc for the period from 1 February 2021 to 31 July 2021.
These interim results have not been audited nor have they been reviewed by the Company’s auditors under ISRE 2410 of the Auditing Practices Board.
UPDATE ON INVESTMENTS AND ACTIVITIES
Ananda’s ambition is to be a UK-based grower of carbon neutral, consistent, high quality medical cannabis for domestic and international markets.
ICAN Israel Cannabis Limited (“iCAN”)
In the period under review, iCAN has expanded its conference platform and increased the number of companies in its incubator group. Since the end of the reporting period, iCAN has transitioned to an online offering to maintain revenue streams during the COVID-19 pandemic. The Company has converted its convertible debt into additional equity in iCAN.
Liberty Herbal Technologies Limited (“LHT”)
LHT launched hapac®, a dry herb medicinal cannabis inhaling technology, in Italy in late 2018. LHT was founded by ex-British American Tobacco executives from the e-cigarette innovation and sales divisions, who bring with them a deep understanding of strict regulatory environments and the procedures and protocols required to develop and commercialise technologies of this nature. Sales increased from launch however due to COVID they stagnated and fell during mid 2020. The Italian operations remain open, ready for relaunch when COVID allows, and the company continues to refine the dry herb vaping device and explore opportunities to grow the business in the North American, European and UK markets.
Tiamat Agriculture Limited (“TAL”) and DJT Group Limited (“DJT”)
TAL is a wholly owned subsidiary of the Company and DJT is owned 50% by TAL and 50% by TAL’s joint venture partners Anglia Salads Limited and JEPCO Marketing Limited (together, “JEPCO”). DJTG is the 100% owner of DJT Plants Limited (“Plants”)
In October 2019, Plants submitted its application to the Home Office Drugs and Firearms Licencing Unity (“DFLU”) to grow >0.2% THC cannabis in Lincolnshire. Throughout the year Plants and its advisors continued to correspond with DFLU officials in order to progress the licence application through the various phases to the current position of awaiting a site visit from the DFLU. The Home Office made a physical site visit on 17 March 2021 and the Licence was received on 17 May 2021.
On 15 February 2021, Ananda announced that it had raised £300,000 for the build out of its research facility at the Licence location. As reported to shareholders at the time, these funds were set aside for the build out. DJT Plants will therefore immediately commence the build out and commissioning of the research facility.
On 8 June 2021, Ananda announced that it had entered into a non-binding Heads of Terms for the proposed acquisition by Ananda of the 50% shareholding in DJT currently owned by JEPCO. This transaction is ongoing.
On 14 July 2021, Ananda announced that it had raised £550,000 by way of the issue of 1p convertible loan notes (“CLNs”) with a fixed life of 2 years and an interest rate of 12.5%. The interest accrued on these notes will be rolled up and satisfied by the issue of ordinary shares at the end of the 2-year terms. The proceeds from the issue of the CLNs will be used to fund the ongoing build of Plants’ cannabis cultivation and research facility.
On behalf of the board
Melissa Sturgess, Chief Executive Officer
21 October 2021
| 6 months to 31 July 2021
Unaudited |
Year ended 31 January 2021 Audited |
6 months to 31 July 2020
Unaudited |
||
| Note | £ | £ | £ | |
| Administrative expenses | (688,498) | (496,110) | (151,089) | |
| Interest received | – | 114 | 114 | |
| Loss from operations | (668,498) | (495,996) | (150,975) | |
| Taxation | – | – | – | |
| Foreign Exchange Translation Gain / (Loss) | 1 | (149) | (887) | 1,157 |
| Total loss for the period | (688,647) | (495,109) | (149,818) |
| Earnings per share | ||||
| Basic and diluted earnings per share (pence) | 2 | (0.10p) | (0.11p) | (0.07p) |
There was no other comprehensive income in the period.
| 6 months to 31 July 2020
Unaudited |
Year ended 31 January 2021 Audited |
6 months to 31 July 2020
Unaudited |
||
| £ | £ | £ | ||
| Fixed assets | ||||
| Investments | 1,313,811 | 1,280,618 | 1,401,250 | |
| 1,313,811 | 1,280,618 | 1,401,250 | ||
| Current assets | ||||
| Debtors | 50,000 | 12,718 | 28,672 | |
| Cash at bank and in hand | – | – | 3,638 | |
| Total current assets | 50,000 | 12,718 | 32,310 | |
| Creditors: amounts falling due within one year | 863,564 | 462,299 | 308,898 | |
| Net current assets | (813,564) | (449,581) | (276,588) | |
| Total assets less current liabilities | 500,247 | 831,037 | 1,124,662 | |
| Capital and reserves | ||||
| Share capital | 1,589,004 | 928,278 | 882,194 | |
| Share premium | 766,336 | 689,229 | 689,229 | |
| Share option reserve | 67,361 | 447,337 | 441,755 | |
| Retained earnings | (1,922,454) | (1,233,807) | (888,516) | |
| Total equity and liabilities | 500,247 | 831,037 | 1,124,662 | |
The interim financial statements were approved and authorised for issue by the Board and were signed on its behalf by:
Melissa Sturgess
Chief Executive Officer
[
21 October 2021
| Share Capital | Share Premium | Share Option Reserve | Retained Earnings | Total | |
| £ | £ | £ | £ | £ | |
| As at 1 February 2021 | 928,278 | 689,229 | 447,337 | (1,233,807) | 831,037 |
| Total comprehensive loss for the period | – | – | – | (688,647) | (688,647) |
| Proceeds from share issue | 660,726 | 77,107 | – | – | 737,833 |
| Issue of share options | – | – | (379,976) | – | (379,976) |
| Balance at 31 July 2021 | 1,589,004 | 766,336 | 67,361 | (1,922,454) | 500,247 |
| Share Capital | Share Premium | Share Option Reserve | Retained Earnings | Total | |
| £ | £ | £ | £ | £ | |
| As at 1 February 2020 | 836,111 | 689,229 | 441,755 | (738,698) | 1,228,397 |
| Total comprehensive loss for the year | – | – | – | (495,109) | (495,109) |
| Proceeds from share issue | 92,167 | – | – | – | 92,167 |
| Issue of share options | – | – | 5,582 | – | 5,582 |
| Balance at 31 January 2021 | 928,278 | 689,229 | 447,337 | (1,233,807) | 831,037 |
| Share Capital | Share Premium | Share Option Reserve | Retained Earnings | Total | |
| £ | £ | £ | £ | £ | |
| As at 1 February 2020 | 836,111 | 689,229 | 441,755 | (738,698) | 1,228,397 |
| Total comprehensive loss for the period | – | – | – | (149,818) | (149,818) |
| Proceeds from share issue | 46,083 | – | – | – | 46,083 |
| Balance at 31 July 2021 | 882,194 | 689,229 | 441,755 | (888,516) | 1,124,662 |
The following describes the nature and purpose of each reserve within owners’ equity:
| Reserve | Description and purpose |
| Share capital | This represents the nominal value of shares issued. |
| Share premium | Amount subscribed for share capital in excess of nominal value. |
| Retained earnings | Cumulative net gains and losses recognised in the statement of comprehensive income. |
ACCOUNTING POLICIES
General information
Ananda Developments Plc’s interim financial statements are presented in British Pound Sterling (GBP) which is the functional currency of the parent company. These interim financial statements were approved for issue by the Board of Directors on 21 October 2021.
The financial information set out in these interim financial statements does not constitute statutory accounts as defined in Section 434 of the Companies Act 2006. The Company’s statutory financial statements for the year ended 31 January 2021 have been filed with the Registrar of Companies. The auditor’s report on those financial statements was unqualified and did not contain a statement under Section 498(2) of the Companies Act 2006.
These interim results have not been audited nor have they been reviewed by the Company’s auditors under ISRE 2410 of the Auditing Practices Board.
Basis of preparation
These interim financial statements are for the six month period ended 31 July 2021. They have been prepared following the recognition and measurement principles of FRS 102. They do not include all of the information required for full annual financial statements and should be read in conjunction with the financial statements for the period ended 31 January 2021.
These interim financial statements have been prepared on a going concern basis which the Directors believe to be appropriate.
These interim financial statements have been prepared in accordance with the accounting policies adopted in the financial statements for the period ended 31 January 2021.
1. Foreign currency transactions
Transactions in foreign currencies are translated to GBP at the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to GBP at the exchange rate on that date. Foreign exchange differences arising on translation are recognised in the statement of comprehensive income.
2. Earnings per share
The calculation of earnings per share is based on the loss attributable to ordinary shareholders divided by the average number of shares in issue during the period.
The Directors of the Company accept responsibility for the contents of this announcement.
| ANANDA DEVELOPMENTS PLC Chief Executive Officer Melissa Sturgess |
+44 (0)7717 573 235 ir@anandadevelopments.com |
| Investor Relations Jeremy Sturgess-Smith |
|
| PETERHOUSE CAPITAL LIMTED Corporate Finance Mark Anwyl Guy Miller |
+44 (0)20 7469 0930 |
| Corporate Broking Lucy Williams Duncan Vasey |
|
| CELICOURT COMMUNICATIONS Mark Antelme Ollie Mills |
+44 (0)20 7520 9266 |
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Alan Green discusses Petroteq $PQE $PQEFF & Ananda Developments #ANA on the Stockbox Research podcast
Alan Green discusses Petroteq $PQE $PQEFF & Ananda Developments #ANA on the Stockbox Research podcast.
Alan Green talks Open Orphan #ORPH, Aquis #AQX & Ananda Developments #ANA
Alan Green talks Open Orphan #
ORPH, Aquis #AQX & Ananda Developments #ANA