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Half Yearly Report

1 Sep 2015 10:10

RNS Number : 6608X
Mithril Capital PLC
01 September 2015
 

 

 

 

MITHRIL CAPITAL PLC

("Mithril" or "the Company")

 

Interim Report for the period ended 30 June 2015

Mithril (AIM: MITH), announces its unaudited interim financial results for the period ended 30 June 2015.

 

Period highlights

 

· On 22nd December 2014, the Company was successfully admitted to the Standard Segment of the Official List and to trading on the London Stock Exchange's Main Market 

· Raised £3.4 million cash (gross) through the listing of 128,250,000 new ordinary shares

· On 29 May 2015 Mithril announced a change of strategic focus to concentrate on acquisition targets within the TMT (technology, media and telecommunications) sector.

Peter Redmond, Chairman of Mithril, commented: "The admission of Mithril to the Standard List in December has given the Company the funding and profile to allow the consideration of a wide range of possible acquisitions. In particular, the change in focus to the TMT that was announced in May has opened up many new exciting targets.

We continue to consider a number of possible acquisitions which I believe will create significant shareholder value if successfully completed and I look forward to updating the market when further progress is made."

 

 

Enquiries

 

Mithril Capital plc

www.mithril-capital.com

Rodger Sargent, Peter Redmond

Tel: 020 7933 8787

 

 

Walbrook PR Ltd

Tel: 020 7933 8787 or mithril@walbrookpr.com

Paul McManus

Mob: 07980 541 893

 

 

 

 

Introduction

 

I am pleased to present the unaudited interim results for the period ended 30 June 2015. During this period, Mithril generated a loss of £122,872, the vast majority relating to the formation of the Company and its admission to the Standard List. Cash assets at the period end were over £3.3 million.

 

Mithril floated on to the Standard Listing of the Official List on the London Stock Exchange on 22nd December 2014. The Company was created to undertake an acquisition of a company or business with a focus on the natural resources sector, and raised £3.4 million cash (gross) through the issue of new ordinary shares. Mithril has a total of 128,250,000 ordinary shares in issue.

 

On 29 May 2015 Mithril announced a change of strategic focus to concentrate on acquisition targets within the TMT (technology, media and telecommunications) sector.

 

Outlook

 

The change in focus to concentrate on targets within TMT sector has opened up many new exciting targets. We continue to evaluate a number of possible acquisitions which I believe will create significant shareholder value if successfully completed and I look forward to updating the market when further progress is made.

 

 

Peter Redmond

Chairman

 

28 August 2015

 

 

 

 

 

 

INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD FROM 17 SEPTEMBER 2014 TO 30 JUNE 2015

 

 

 

 

Period ended

 

 

30.06.2015

 

 

(Unaudited)

 

Notes

£

 

 

 

Revenue

2

-

 

 

-------------------

Gross profit

 

-

 

 

 

General & administrative expenses

 

(128,263)

 

 

-------------------

Loss from operations before interest

 

(128,263)

 

 

 

Interest income

 

5,391

 

 

--------------------

Loss before tax

 

(122,872)

 

 

 

Tax

 

-

 

 

---------------------

Retained Loss after tax for the period

 

(122,872)

 

 

=============

 

 

 

Retained loss attributable to:

 

 

Owners of the company

 

(122,872)

 

 

-------------------

Loss for period

 

(122,872)

 

 

=============

Total comprehensive loss attributable to:

 

 

Owners of the company

 

(122,872)

 

 

---------------------

Total comprehensive loss for the period

 

(122,872)

 

 

=============

 

 

 

Loss per share

 

 

Basic and diluted

3

(0.001)

 

 

=============

 

 

 

 

INTERIM STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2015

 

 

 

 

As at

 

 

30.06.2015

 

 

(Unaudited)

 

Notes

£

ASSETS

 

 

 

 

 

Current assets

 

 

Trade and other receivables

 

22,500

Cash and cash equivalents

 

3,317,528

 

 

-----------------------

TOTAL ASSETS

 

3,340,028

 

 

============

 

 

 

 

 

 

EQUITY

 

 

Share capital

4

1,282,500

Share premium reserve

 

2,165,000

Retained loss

 

(122,872)

 

 

------------------------

TOTAL EQUITY

 

3,324,628

 

 

============

 

 

 

CURRENT LIABILITIES

 

 

Trade and other payables

 

15,400

 

 

----------------------

TOTAL EQUITY AND LIABILITIES

 

3,340,028

 

 

============

 

 

 

 

INTERIM STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD FROM 17 SEPTEMBER 2014 TO 30 JUNE 2015

 

 

 

 

 

 

 

Share

 

 

 

Share

premium

Retained

Total

 

capital

account

loss

equity

 

£

£

£

£

 

 

 

 

 

Balance at 17 September 2014

-

-

-

-

Loss for the period

-

-

(122,872)

(122,872)

 

 

 

 

 

Total comprehensive income for the period

-

-

(122,872)

(122,872)

Share capital issued

1,282,500

2,165,000

-

3,447,500

Balance at 30 June 2015

1,282,500

2,165,000

(122,872)

3,324,628

 

 

 

 

 

 

INTERIM STATEMENT OF CASH FLOW

FOR THE PERIOD FROM 17 SEPTEMBER 2014 TO 30 JUNE 2015

 

 

Period ended

 

30.06.2015

 

£

 

(Unaudited)

Cash flow from operating activities

 

Loss for the period

(122,872)

Interest income

(5,391)

 

-------------------------

Operating cash flows before movements in working capital

(128,263)

 

 

Increase in receivables

(22,500)

Increase in payables

15,400

 

----------------------

Net cash flow from operating activities

(135,363)

 

 

Cash flow from investing activities

 

Interest income

5,391

 

------------------------

Net cash flow from investing activities

5,391

 

 

Cash flow from financing activities

 

Net proceeds from issue of share capital

3,447,500

 

------------------------

Net cash flow from financing activities

3,447,500

 

 

Net cash inflow for the period

3,317,528

 

----------------------

 

 

Cash and cash equivalents at start of period

-

 

-----------------------

Cash and cash equivalents at end of period

3,317,528

 

============

 

 

 

 

NOTES TO THE UNAUDITED INTERIM REPORT

FOR THE PERIOD ENDED 30 JUNE 2015

 

1. BASIS OF PREPARATION

 

The interim financial statements have been prepared on a going concern basis and in accordance with the recognition and measurement principles of International Financial Reporting Standards adopted for use in the European Union ("IFRS").

 

The interim financial statements for the period ended 30 June 2015 have not been audited and do not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006.

 

This Interim Financial Report was approved by the Board of Directors on 28 August 2015.

 

Statement of compliance

 

These condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard ('IAS') 34 - Interim Financial Reporting as adopted by the European Union. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements. 

 

2. TURNOVER AND SEGMENTAL ANALYSIS

 

All of the Company's activity and income and expenses in the period ended 30 June 2015 were incurred in the United Kingdom, and relate to Mithril's ongoing investment activities.

 

 3. LOSS PER SHARE

 

The calculation of the basis and diluted earnings per share is based on the following data:

 

 

 

 

Period to

 

 

 

30.6.2015

Earnings

 

 

 

Earnings for the purposes of basic earnings per share net loss for the

 

 

 

period attributable to equity holders of the company

 

 

(130,972)

Number of shares

 

 

 

Weighted average number of ordinary shares in issue

 

 

92,076,923

 

The denominator for the purpose of calculating the basic earnings per share has been adjusted to reflect all capital raisings.

 

 

NOTES TO THE UNAUDITED INTERIM REPORT

FOR THE PERIOD ENDED 30 JUNE 2015

 

4.

SHARE CAPITAL

Number of

Nominal value

 

 

shares

£

 

 

a) Issued and Fully Paid:

 

 

 

 

 

 

 

 

 

19 November 2014

9,999,997

99,999

 

 

28 November 2014

10,000,000

100,000

 

 

22 December 2014

106,750,000

1,067,500

 

 

16 December 2014

1,500,000

15,000

 

 

17 September 2014

3

1

 

 

 

-----------------------------

--------------------------

 

 

As at 30 June 2015

128,250,000

£1,282,500

 

 

 

==============

============

 

 

 

 

      

 

5. AVAILABILITY OF INTERIM RESULTS

 

Copies of the Interim Results for the period to 30 June 2015 are available from the Company's registered address and will be available on the Company's website, later today.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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