Veni Vidi Vici Limited (VVV)
Final Results to 31 December 2018
31-May-2019 / 17:22 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
31 May 2019
Veni Vidi Vici Limited
(The "Company" or "VVV")
Audited Final Results to 31 December 2018
Strategic Report
****************
I am pleased to present the annual report and financial statements for the
period ended 31 December 2018.
On 2 August 2018, the Company completed its successful listing on the NEX
Exchange Growth market, having raised GBP600,000 through equity placings in
December 2017 and July 2018 for future acquisitions in accordance with its
investment policy of to identify investment opportunities and acquisitions in
companies in the Precious Metals and Base Metals sectors. The Company will
focus on identifying opportunities for acquisition, exploration and
development of Precious Metals and Base Metals in Australia, Western Europe
and North America.
On 10 December the Company completed its first investment, with the signing of
the sale and purchase agreement with Goldfields Consolidated Pty Ltd for a 51
% beneficial interest in the Shangri La gold, copper and silver project in
consideration for A$220,000.
The Shangri La Project is a gold-copper-silver project comprising a
polymetallic hydrothermal quartz vein type deposit covering an area of 10
hectares. The Shangri La Project is located 10 kilometres west of Kununurra,
the central town of the Northeast Kimberley region in Western Australia.
The consideration payable for the Tenement Interest was A$220,000 (the
"Purchase Price"), and was satisfied by A$20,000 be paid by the Company to
Goldfields in cash and the issuance of 190,000 ordinary fully paid shares in
the capital of the Company ("Consideration Shares").
Pursuant to the terms of the SPA, VVV and Goldfields have entered into a
lock-in agreement whereby Goldfields has agreed to restrict its ability to
sell the Consideration Shares for a period of three months.
The Company and Goldfields have also entered into a joint venture agreement
("JVA") under which VVV will be responsible for an initial expenditure fee of
A$300,000 over three years from the commencement of the JVA. Goldfields will
manage the joint venture ("JV") and be entitled to a 10% management fee of
expenses incurred by the JV.
FINANCE REVIEW
The l oss for the period to 31 December 2018 amounted to GBP103,000 which
included GBP25,000 share based payment charge and approximately and the
remainder relates to regulatory costs and other corporate overheads. The total
revenue for the period was nil. At 31 December 2018, the Company had cash
balances of GBP450,000.
The Company does not recommend the payment of a dividend.
Mahesh Pulandaran
Executive Chairman
31 May 2019
The Directors of the Company are responsible for the contents of this
announcement.
For further information, please contact:
The Company
Aaron Lucas + 44 (0) 7834 834 182
NEX Exchange Corporate Adviser:
Peterhouse Capital Limited
Guy Miller/Mark Anwyl +44 (0) 20 7469 0936
Statement of comprehensive income for the period from incorporation on 14
November 2017
to 31 December 2018
______________________________________________________________________________
____________
Period ended
31 December
2018
Note GBP'000
Revenue 4
Investment income -
Total revenue -
Administration expenses (78)
Share based payment charge (25)
Operating (loss) 5 (103)
Finance costs -
(Loss) before taxation (103)
Taxation 7 -
(Loss) for the period attributable to equity (103)
holders of the company
Other comprehensive income
Translation exchange (loss)/gain -
Other comprehensive income for the period -
net of taxation
Total comprehensive income for the period (103)
attributable to equity holders of the
company
Loss per share
Basic and diluted (pence) 8 (10.96)
The accompanying accounting policies and notes form part of these financial
statements.
Statement of financial position at 31 December 2018
______________________________________________________________________________
____________
31 December
2018
Note GBP'000
Non-current assets
Intangible assets 9 136
Current assets
Trade & other receivables 10 6
Cash and cash equivalents 450
456
Total assets 592
Current liabilities
Trade and other payables 11 (42)
(42)
Net current assets 414
Net assets 550
Equity
Share capital 12 -
Share premium account 628
Share based payment reserve 25
Retained earnings (103)
550
The financial statements of Veni Vidi Vici Ltd (registered number 196048) were
approved by the Board of Directors and authorised for issue on 31 May 2019 and
were signed on its behalf by:
Aaron Lucas Christopher Gordon
Director Director
The accompanying accounting policies and notes form part of these financial
statements.
Statement of changes in equity for the period from incorporation on 14
November 2017 to 31 December 2018
______________________________________________________________________________
____________
Share Share Share based Retained Total
payment reserve
capital premium earnings
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
On incorporation - - - - -
of 14 November
2017
(Loss) for the - - - (103) (103)
period
Total - - - (103) (103)
Comprehensive
Income
Shares issued - 723 - - 723
Share issue costs - (95) - - (95)
Share options - - 25 - 25
issued
Total - 628 25 - 653
contributions by
and distributions
to owners of the
Company
At 31 December - 628 25 (78) 550
2018
The accompanying accounting policies and notes form part of these financial
statements.
Statement of cash flows for the period from incorporation of 14 November 2017
to 31 December 2018
______________________________________________________________________________
____________
Period ended
31 Dec 2018
GBP'000
Cash flows from operating activities
Operating (loss) (103)
Share based payment charge 25
(Increase) in trade & other receivables (6)
Increase in trade and other payables 42
Net cash outflow in operating activities (42)
Investing activities
Finance costs -
Investment in intangible asset (13)
Net cash outflow in investing activities (13)
Financing activities
Issue of share capital 600
Issue costs (95)
Net cash inflow from financing activities 505
Net increase in cash and cash equivalents 450
Cash and cash equivalents at beginning of period -
Cash and cash equivalents at end of period 450
The accompanying accounting policies and notes form part of these financial
statements.
Notes to the financial statements
______________________________________________________________________________
____________
1 General information
Veni Vidi Vici Ltd is a company incorporated on 14 November
2017 in the British Virgin Islands ("BVI") under the BVI
Business Companies Act 2004. The address of its registered
office is Vistra Corporate Services Centre, Wickhams Cay II,
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