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YOLO directors upbeat after tough year for its investments

Wed, 20th Mar 2019 14:54

(Sharecast News) - YOLO Leisure and Technology reported swung to unrealised losses on its investments for the 2018 financial year, it announced on Wednesday, with losses totalling £0.84m, compared to gains of £0.66m in 2017.The AIM-traded firm said its total comprehensive expenses for the year ended 30 September 2018 were £1.11m, compared to income of £0.73m in the prior comparative period.It noted that it had consolidated and subdivided its share capital into one new ordinary share of 0.01p each and one new A deferred share of 9.99p each in exchange for every 10 existing ordinary shares of 1p each.Following completion of the share capital reorganisation, the total issued ordinary share capital of the company was 44,132,276 new 0.01p ordinary shares.Realised gains on the disposal of investments was nil for the year, compared to £0.27m, with gross assets falling to £3.44m at year-end, from £4.56m a year earlier.Net fair value investments held was said to be £3.08m, slipping from £3.88m, while total net assets were £3.41m - down from £4.51m - which represented 7.72p per share, compared to 10.23p a year earlier.Cash in bank at year-end was £0.27m, sliding from £0.62m year-on-year.Looking at its investments, YOLO said the TVPlayer platform continued to grow and attract new investment.It had more than 3.2 million users and 50,000 paying subscribers, and in January 2018, it raised £1.24m in convertible loan notes from A&E Networks - of which YOLO took up £50,000 - and a further £2m in November 2018 from AMC Networks.Due to economic uncertainty, the board noted that further funding was proving difficult, with the company said to be exploring all options including a trade sale or a listing.Simplestream continued to grow steadily, with services now being delivered in the US, Africa and the Far East.New partners signed up during the year include Icelandic telco NOVA, and North America-based production company Blue Ant Media.In November, the company launched its new sports video platform with AVOD/SVOD and PPV models out of the box, which YOLO said would enable any league, channel or federation to generate revenue.Finally, Magic Media Works developed and test launched its new television infomercial shows across mainstream networks in the UK and the US during the year, in partnership with specialist infomercial content providers, to enable a scaling of the business in those markets, the board explained.Since the period ended, Magic Media Works completed a further fundraise of £0.9m on 5 December, to enable it to launch its Christmas television campaign for the 'ROXI' home music entertainment product.The largest investor in the round was private investor and Saracens Rugby Club owner Nigel Wray, who was also the largest investor in YOLO.Magic Media´s founder and CEO Rob Lewis, former Pandora Jewellery CFO Henrik Holmark, and Endeavour Ventures also participated directly in the round.On 5 February, YOLO successfully raised £0.3m before costs via a placing of 8,000,000 new ordinary shares with new and existing investors at an issue price of 3.75p per share.The company said that on the same date, it invested £0.1m in Sparkledun, in equity, to acquire 3.41% of its issued share capital.Sparkledun, through its trading subsidiary Fast to Fibre, held the rights to exploit and further develop a technology solution utilising a unique patented process for the extraction of the inner core of telecoms and power cables, allowing the insertion of fibre optic without the need for excavation or other disruptive techniques."Throughout the past year we continued to work in active and collaborative partnership with our investee company founders and other board members to deliver and fulfil their business plans and visions," said YOLO chief executive officer Simon Robinson."We are focusing on early stage investments where we can use our board's experience and connections to accelerate the growth of investee companies, so that they have the potential to list on a public market as a possible alternative to future venture capital investment."Robinson said the firm would continue to "actively explore" the most innovative and creative strategies to optimise value for shareholders through its status as an AIM investment vehicle."We will continue to support our portfolio of entrepreneurial technology businesses, whilst actively pursuing new and exciting opportunities."We would like to thank our shareholders and advisors for continuing to show support in the board and its vision."
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18 May 2023 18:31

IN BRIEF: Asimilar to exit from AIM next week as vote passes

Asimilar Group PLC - London-based investment firm focused on technology investment opportunities in big data, machine learning, telematics and internet of things - All resolutions at annual general meeting pass, including vote on AIM cancellation. Company's final day of trading will be next week Thursday. "The company's ordinary shares will continue to be admitted to trading on the Access segment of the AQSE Growth Market," Asimilar adds.

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11 May 2023 15:44

UK shareholder meetings calendar - next 7 days

Friday 12 May 
Balfour Beatty PLCAGM
Derwent London PLCAGM
Goodbody Health LtdAGM
GreenRoc Mining PLCAGM
Hutchmed (China) LtdAGM
Itim Group PLCAGM
Itsarm PLCGM re delisting from AIM
Wheaton Precious Metals CorpAGM
Monday 15 May 
GCP Asset Backed Income Fund LtdAGM
Tuesday 16 May 
accesso Technology Group PLCAGM
Chesnara PLCAGM
Dialight PLCAGM
Equals Group PLCAGM
Essentra PLCAGM
FDM Group Holdings PLCAGM
iEnergizer LtdGM re proposed cancellation of admission to trading on AIM
IQGeo Group PLCAGM
Kakuzi PLCAGM
PYX Resources LtdAGM
Synthomer PLCAGM
TI Fluid Systems PLCAGM
Vector Capital PLCAGM
Wednesday 17 May 
Alpha Group International PLCAGM
Aston Martin Lagonda Global Holdings PLCAGM
Baillie Gifford Shin Nippon PLCAGM
Cenkos Securities PLCGM re all-share merger between Cenkos and finnCap
Coats Group PLCAGM
Coca-Cola HBC AGAGM
Computacenter PLCAGM
Conduit Holdings LtdAGM
EKF Diagnostics Holdings PLCAGM
finnCap Group PLCGM re all-share merger between Cenkos and finnCap
Gamma Communications PLCAGM
Georgia Capital PLCAGM
Greggs PLCAGM
HgCapital Trust PLCAGM
Highcroft Investments PLCAGM
Impact Healthcare REIT PLCAGM
Just Eat Takeaway.com NVAGM
Keller Group PLCAGM
LMS Capital PLCAGM
Mpac Group PLCAGM
Savills PLCAGM
Tortilla Mexican Grill PLCAGM
TP ICAP Group PLCAGM
WPP PLCAGM
Thursday 18 May 
Asimilar Group PLCAGM
Belvoir Group PLCAGM
Bridgepoint Group PLCAGM
Central Asia Metals PLCAGM
Ceres Power Holdings PLCAGM
ConvaTec Group PLCAGM
Diaceutics PLCAGM
Digital 9 Infrastructure PLCAGM
Fintel PLCAGM
Genuit Group PLCAGM
Inchcape PLCAGM
Invesco Asia Trust PLCAGM
Legal & General Group PLCAGM
Lloyds Banking Group PLCAGM
musicMagpie PLCAGM
Next PLCAGM
NIOX Group PLCAGM
PensionBee Group PLCAGM
Public Policy Holding Co IncAGM
Quilter PLCAGM
Riverstone Energy LtdAGM
Safestyle UK PLCAGM
Science Group PLCAGM
Secure Trust Bank PLCAGM
Smart Metering Systems PLCAGM
Somero Enterprises IncAGM
St James's Place PLCAGM
Tyman PLCAGM
Unite Group PLCAGM
Vesuvius PLCAGM
Vistry Group PLCAGM
Yu Group PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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24 Apr 2023 12:09

Asmilar slumps as swings to full-year loss and plans AIM de-listing

(Alliance News) - Asimilar Group PLC shares plummeted on Monday, after it returned from suspension and said it plans to cancel its shares on London's AIM.

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31 Mar 2023 11:59

IN BRIEF: Asimilar to suspend shares from trading due to audit delay

Asimilar Group PLC - London-based investment firm focused on technology investment opportunities in big data, machine learning, telematics and internet of things - Says it will suspend its shares from trading on AIM and AQSE from Monday, as it will fail to meet the reporting deadline for its audited annual results for the year ended September 30."

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31 Mar 2023 11:06

AIM WINNERS & LOSERS: Jersey Oil in talks with North Sea "heavyweight"

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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10 Jan 2023 12:41

Tap Global starts trading as reverse takeover by Quetzal completed

(Alliance News) - Tap Global Group PLC on Tuesday started trading on AQSE as the reverse takeover by London-based investor Quetzal Capital PLC was completed.

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16 Dec 2022 21:53

TRADING UPDATES: Dev Clever to cancel shares; Tintra raises funds

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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30 Jun 2022 13:59

EARNINGS UPDATES: UK Oil & Gas and 7digital post widened losses

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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4 Apr 2022 21:57

TRADING UPDATES: Beeks seeks GBP15 million; Sanderson renews licence

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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21 Mar 2022 12:12

TRADING UPDATES: Asimilar to list on AQSE; Spectral MD swings to loss

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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9 Nov 2021 19:18

TRADING UPDATES: Sealand's China progress; Altus finds gold

TRADING UPDATES: Sealand's China progress; Altus finds gold

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18 Oct 2021 14:21

IN BRIEF: Dev Clever wins major expansion of CSC Academy deal in India

IN BRIEF: Dev Clever wins major expansion of CSC Academy deal in India

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11 Aug 2021 16:02

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

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2 Jul 2021 17:37

TRADING UPDATES: ZAIM Credit launches app; Benchmark in Norway boost

TRADING UPDATES: ZAIM Credit launches app; Benchmark in Norway boost

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29 Jun 2021 17:36

IN BRIEF: Dev Clever strikes India deal for career guidance platform

IN BRIEF: Dev Clever strikes India deal for career guidance platform

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