LONDON (Alliance News) - Evocutis PLC on Wednesday said it has enough funding to make further investments and cover its operating costs for the forseeable future.
Evocutis, which has share listings on the London Stock Exchange's AIM junior market and on ICAP's ISDX Growth Market, has implemented its investing policy since it was adopted in September 2014.
The policy, which is based on investing in the natural resources sector, has seen Evocutis take stakes in Horse Hill Developments Ltd - developer of the Horse Hill oil project near Gatwick Airport - Noricum Gold Ltd and Alba Mineral Resources PLC, among other investments.
"The board acknowledges this exciting period for the company as it continues to evaluate and seek additional investments as opportunities arise," Evocutis said.
The company's update came as it reported a GBP367,000 pretax loss in the year ended July 31, compared with a 197,000 pretax loss the prior year, mainly due to higher administrative expenses.
Shares in Evocutis were down 7.5% at 0.0925 pence on Wednesday afternoon.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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