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Lift Global Ventures #LFT – Final Audited Results to 30 June 2022 & Notice of AGM
Lift Global Ventures Plc (AQSE:LFT), an enterprise company formed to identify investment and acquisition opportunities within the financial media and related technology industries, is pleased to announce its Final Audited Results to 30 June 2022 (the “Results”).
Highlights
· The Company successfully completes its admission to the AQSE Growth Market raising £1,726,300 (before expenses).
· The Company incurred a loss for the period of £474,578, largely related to one-off costs in connection with the admission to AQSE.
Post-Period Highlights
· Shortly after the period end, the Company acquired Miriad Limited, a successful financial PR and IR consulting company, for a consideration of £366,667.
Notice of Annual General Meeting (‘AGM’)
The Company is also pleased to announce that its AGM will be held on 5 December 2022 at 1pm (GMT) at the offices of HillDickinson LLP at The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW.
Copies of the Notice of AGM, together with the Form of Proxy and the Company’s annual report and accounts to 30 June 2022, have been posted to shareholders today and will be available to view on the Company’s website: www.liftgv.com.
The Directors of the Company accept responsibility for the contents of this announcement.
– Ends –
Enquiries:
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Lift Global Ventures Plc |
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Zak Mir, CEO Tim Daniel, Executive Director |
+44 (0)203 745 1865 |
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Optiva Securities (AQSE Corporate Adviser and Broker) |
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Christian Dennis Daniel Ingram |
+44 (0)203 411 1881
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For more information please visit: www.liftgv.com
Chairman’s Statement
The period ended 30 June 2022 saw the Company successfully complete its admission to the AQSE Growth Market (“AQSE”) on 29 April 2022. In connection with the admission, the Company raised £1,726,300 (before expenses). Including pre-IPO funds, the Company raised a total of £2,066,300 during the period.
This milestone positioned the Company to begin executing its strategy as detailed below.
Strategy & Outlook
The Company’s investment strategy, as stated in its admission document published on 25 April 2022, is to seek to operate as an enterprise company seeking acquisition or investment opportunities within the financial media and related technology industries. Within these broad industries, areas of focus may include:
• Financial news websites and other forms of “new media”
• Investment research providers
• Financial PR, IR, design and marketing agencies
• Production studios and visual content providers
• Technology platforms which facilitate capital raising and/or lending
Indeed, the Company made its first acquisition soon after the end of the period. Miriad Limited (“Miriad”), a successful financial PR and IR consulting company run by well-known stock market commentator (and Company Director) Zak Mir, was acquired on 5 September 2022 for a consideration of £366,667.
As stated in the Company’s shareholder circular dated 8 August 2022, the acquisition of Miriad helps to achieve the Directors’ goal of covering Lift’s fixed costs and providing, not just stability during a time of market turmoil, but an ideal platform from which to launch into the next phase of the Company’s growth strategy.
The Board looks forward to both growing the Miriad business and continuing to seek complementary acquisition or investment opportunities which help to cement the Company’s central position in the small/mid-cap arena.
The Company’s strategy is further detailed in the Strategic Report on Page 4.
Financial Summary
The Company incurred a loss for the period of £474,578. A significant part of the Company’s expenses during the period related to one-off costs in connection with the admission to AQSE.
With the post-period end acquisition of Miriad, the Directors continue to focus on not just preserving but growing the Company’s assets.
The Board looks forward to providing further material updates to the market in due course and thanks shareholders for their continued support.
Paul Gazzard
Non-Executive Chairman
Statement Of Financial Position
As at 30 June 2022
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As at 30 June 2022 £ |
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Current Assets |
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Trade and other receivables |
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338,366 |
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Cash and cash equivalents |
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1,322,305 |
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Total current assets |
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1,660,671 |
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Total Assets |
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1,660,671 |
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Current Liabilities |
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|
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Trade and other payables |
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64,235 |
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Total Liabilities |
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64,235 |
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Net Assets |
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1,596,436 |
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Equity attributable to owners of the Parent |
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|
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Share capital |
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915,433 |
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Share premium |
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1,097,757 |
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Other reserves |
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57,824 |
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Retained earnings |
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(474,578) |
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Total Equity |
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1,596,436 |
Statement Of Comprehensive Income
For The Period Ended 30 June 2022
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For the period ended 30 June 2022 £ |
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Administration expenses |
(286,280) |
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Listing fees – legal and professional services |
(188,298) |
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Operating Loss |
(474,578) |
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Loss before Taxation |
(474,578) |
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Corporation tax |
– |
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Loss for the period |
(474,578) |
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Earnings per share (pence) – Basic & Diluted |
(1.48) |
The Company has no Other Comprehensive Income as at 30 June 2022.
Statement Of Changes In Equity
As at 30 June 2022
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Attributable to Equity Shareholders |
||||
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Share capital £ |
Share premium £ |
Other reserves £ |
Retained earnings £ |
Total equity £ |
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On incorporation |
50,000 |
– |
– |
– |
50,000 |
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Loss for the period |
– |
– |
– |
(474,578) |
(474,578) |
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Total Loss for the period |
– |
– |
– |
(474,578) |
(474,578) |
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Transactions with owners |
|||||
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Issue of ordinary shares |
865,433 |
1,150,867 |
– |
– |
2,016,300 |
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Cost of capital |
– |
(53,110) |
– |
– |
(53,110) |
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Options and warrants granted |
– |
– |
57,824 |
– |
57,824 |
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Total transactions with owners |
865,433 |
1,097,757 |
57,824 |
– |
2,021,014 |
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As at 30 June 2022 |
915,433 |
1,097,757 |
57,824 |
(474,578) |
1,596,436 |
Statement Of Cash Flows
As at 30 June 2022
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|
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As at 30 June 2022 £ |
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Cash flows from operating activities |
|
|
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Loss after taxation |
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(474,578) |
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Adjustments for: |
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|
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Share based payments |
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43,664 |
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Increase in trade and other receivables |
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(338,366) |
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Increase in trade and other payables |
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64,235 |
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Net cash used in operating activities |
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(705,045) |
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Cash flows from financing activity |
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|
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Net proceeds from issue of shares |
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2,027,350 |
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Net cash generated from financing activity |
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2,027,350 |
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Net increase in cash and cash equivalents |
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1,322,305 |
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Cash and cash equivalents at 13 May 2021 |
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– |
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Cash and cash equivalents at end of period |
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1,322,305 |
Lift Global Ventures #LFT – Admission to Trading and First Day of Dealings
Lift Global Ventures Plc (AQSE:LFT), an enterprise company formed to identify investment and acquisition opportunities within the financial media and related technology industries, is pleased to announce that trading in its ordinary shares will commence on AQSE Growth Market (“AQSE”) at 8:00 a.m., today (Friday, 29 March 2022), under the ticker “LFT” and ISIN: GB00BNG59574.
The Company has been admitted to the Access Segment of AQSE following the successful completion of an oversubscribed fundraise of £1.73 million. Including funds raised prior to the IPO, Lift has raised £2.07 million to pursue its investment strategy and may invest in or acquire, inter alia, financial news websites and other forms of “new media”, investment research providers, marketing services businesses, content creators and financial technology platforms.
The Board of the Company comprises Paul Gazzard, Non-Executive Chairman, Zak Mir, Chief Executive Officer and Timothy Daniel, Executive Director.
The Board, and in particular the Company’s Chief Executive Officer, has significant experience and an extensive network of contacts in the financial media and related technology industries. The Directors aim to leverage these strengths to not only identify compelling acquisition or investment opportunities but also to advise and add value to investee companies on an ongoing basis. The Board believes it has the expertise to identify and fully exploit the synergistic opportunities available to the Company from investing across its target sectors.
Zak Mir, Chief Executive Officer, commented:
“In recent years, we’ve seen investor access improve drastically, with social and financial media and technology transforming how companies, markets, and investors interact. However, the financial media and technology markets remain fragmented, and more choice does not necessarily lead to better outcomes for investors.
We formed Lift to disrupt and improve the financial media and technology landscape, and to create an innovative media and technology group which is greater than the sum of its parts.”
The Company’s Admission Document is available to view here:
https://liftgv.com/wp-content/uploads/2022/04/Lift-Admission-Document-FINAL.pdf
The Directors of the Company accept responsibility for the contents of this announcement.
Enquiries:
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Lift Global Ventures Plc |
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Zak Mir, Chief Executive Officer |
+44 (0)203 745 1865 |
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Tim Daniel, Executive Director |
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Novum (AQSE Corporate Adviser and Joint Broker) |
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David Coffman / Colin Rowbury |
+44 (0)207 399 9400 |
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Optiva Securities (Joint Broker) |
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Christian Dennis / Daniel Ingram |
+44 (0)203 411 1881 |
For more information please visit: www.liftgv.com
Lift Global Ventures Plc #LFT – CEO Zak Mir talks to Alan Green about the upcoming IPO
CEO Zak Mir talks to Alan Green about the upcoming IPO on April 29th. Zak explains the reason the company opted for Aquis rather than AIM. There are still some opportunities for investors to get involved in the run up to the IPO, with an additional warrant on offer for shareholders at this late stage. Zak looks at what investors can expect from the group post IPO, and talks about the board that he has assembled to oversee the Lift journey. Alan asks whether the bid by Aberdeen Asset Management for Interactive Investor marks a consolidation phase opportunity in the financial media sector?
Lift Global Ventures – Announcement of Application for Admission to Aquis Stock Exchange
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ANNOUNCEMENT OF APPLICATION FOR ADMISSION TO THE AQSE GROWTH MARKET
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| APPLICANT NAME: | ||||||||||||||||||||||||||||||
| Lift Global Ventures Plc | ||||||||||||||||||||||||||||||
| APPLICANT REGISTERED OFFICE, PRINCIPLE PLACE OF BUSINESS (IF DIFFERENT) AND TELEPHONE NUMBER: | ||||||||||||||||||||||||||||||
| Address: Central Working Victoria, Eccleston Yards, 25 Eccleston Place, London, SW1W 9NF
Telephone: + 44 (0) 203 7451 865 |
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| DIRECTORS AND PROPOSED DIRECTORS (IF APPLICABLE): | ||||||||||||||||||||||||||||||
| Paul Terence Gazzard (Non-Executive Chairman)
Saqib (“Zak”) Ahmed Mir (Chief Executive Officer) Timothy (“Tim”) William Daniel (Executive Director)
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| APPLICANT SECTOR: | ||||||||||||||||||||||||||||||
| Financial Services | ||||||||||||||||||||||||||||||
| DESCRIPTION OF THE APPLICANT AND ITS ACTIVITIES: | ||||||||||||||||||||||||||||||
| The Company’s investment strategy is to operate as an enterprise company seeking acquisition or investment opportunities within the financial media and technology industries. Within these broad industries, areas of focus may include:
* Financial news websites and other forms of “new media” * Investment research providers * Financial PR, IR, design and marketing agencies * Production studios and visual content providers * Technology platforms which facilitate capital raising and/or lending
The Board, and in particular the Company’s Chief Executive Officer, has vast experience and an extensive network of contacts in the financial media and technology industries. The Directors aim to leverage these strengths to not only identify compelling acquisition or investment opportunities but also to advise and add value to investee companies on an ongoing basis. The Directors believe that, to date, no other quoted companies have fully exploited the synergistic opportunities from investing across the Company’s target sectors.
At the outset, the Directors shall consider a range of suitable opportunities meeting the general investment criteria outlined in this Document. If the first acquisition undertaken by the Company (or any subsequent acquisition) is significant, this may result in a Reverse Takeover under the AQSE Rules. In such circumstances, the Company would most likely become a subsidiary of the Company with a commercial operating business which the Board would operate with a view to returning value to shareholders.
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| NAME OF AQSE CORPORATE ADVISER: | ||||||||||||||||||||||||||||||
| Novum Securities Limited | ||||||||||||||||||||||||||||||
| NUMBER, CLASS AND PAR VALUE OF SECURITIES TO BE ADMITTED: | ||||||||||||||||||||||||||||||
| TBC new Ordinary Shares of 3 pence per new Ordinary Shares | ||||||||||||||||||||||||||||||
| SECURITIES IN PUBLIC HANDS AS A PERCENTAGE OF THE TOTAL NUMBER OF SECURITIES IN ISSUE (excluding securities held in treasury): | ||||||||||||||||||||||||||||||
| TBC% | ||||||||||||||||||||||||||||||
| SHAREHOLDERS HOLDING MORE THAN FIVE PER CENT OF THE APPLICANT’S SHARE CAPITAL OR VOTING RIGHTS PRE- AND POST-ADMISSION: | ||||||||||||||||||||||||||||||
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| TIMETABLE FOR ANY OFFER OF TRANSFERABLE SECURITIES TO THE PUBLIC: | ||||||||||||||||||||||||||||||
| N/A | ||||||||||||||||||||||||||||||
| THE EXPECTED ADMISSION DATE: | ||||||||||||||||||||||||||||||
| 29/04/2022 | ||||||||||||||||||||||||||||||
| WEBSITE ADDRESS WHERE INVESTOR INFORMATION WILL BE AVAILABLE FOR INSPECTION: | ||||||||||||||||||||||||||||||
| www.liftgv.com | ||||||||||||||||||||||||||||||
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In respect of a fast-track applicant, the following information should also be included:
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| NAME OF MARKET ON WHICH THE APPLICANT’S SECURITIES ARE CURRENTLY TRADED: | ||||||||||||||||||||||||||||||
| N/A | ||||||||||||||||||||||||||||||
| ARRANGEMENTS FOR THE SETTLEMENT OF TRANSACTIONS IN THE APPLICANT’S SECURITIES: | ||||||||||||||||||||||||||||||
| N/A | ||||||||||||||||||||||||||||||
| DETAILS OF ANY LOCK-IN ARRANGEMENTS: | ||||||||||||||||||||||||||||||
| N/A | ||||||||||||||||||||||||||||||
| DETAILS OF THE LEGAL OR REGULATORY REQUIREMENTS IN THE APPLICANT’S HOME COUNTRY REGARDING THE CONDUCT OF TAKEOVERS AND THE ACQUISITION OF SIGNIFICANT VOTING RIGHTS TO WHICH THE APPLICANT IS SUBJECT: | ||||||||||||||||||||||||||||||
| N/A |