Veni Vidi Vici Limited (VVV)
Veni Vidi Vici Limited: Interim Results for the six months ended 30 June 2019
15-Oct-2019 / 16:10 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.
15 October 2019
VENI VIDI VICI LIMITED
("Veni Vidi Vici" or the "Company")
Interim Results for the six months ended 30 June 2019
Veni Vidi Vici announces its unaudited interim results for the six months
ended 30 June 2019.
Overview
In August 2018, the Company completed its successful listing on the NEX
Exchange Growth market, having raised gross funds of GBP600,000 through equity
placings in December 2017 and July 2018 for future acquisitions in accordance
with its investment strategy to identify investment opportunities and
acquisitions in companies involved in exploration and development in the
Precious Metals and Base Metals sectors in Australia, Western Europe and North
America.
In December 2018 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 consideration was satisfied by a payment of
A$20,000 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, Veni Vidi Vici 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.
In addition, the Company and Goldfields have entered into a joint venture
agreement ("JVA") under which Veni Vidi Vici 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.
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.
Further updates will be provided over the coming period.
FINANCE REVIEW
The loss for the period to 30 June 2019 was GBP56,000 (31 December 2018 -
GBP103,000 loss) which mainly related to regulatory costs and other corporate
overheads. (31 December 2018 - GBP78,000). The total revenue for the period was
nil. At 30 June 2019, Company had cash balances of GBP384,000 (31 December 2018
- GBP450,000).
The interim accounts to 30 June 2019 have not been reviewed by the Company's
auditors.
Chris Gordon
Director
15 October 2019
The directors of the Company accept responsibility for the contents of this
announcement.
For further information please contact:
The Company
Chris Gordon +44 (0) 7834 834 182
NEX Exchange Corporate Adviser:
Peterhouse Capital Limited +44 (0) 20 7469 0936
Guy Miller/Mark Anwyl
Unaudited Condensed Company Statement of Comprehensive Income
for the six months ended 30 June 2019
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*********************
6 months to Period ended
30 June 2019 31 December 2018
Unaudited Audited
Notes GBP'000 GBP'000
Continuing operations
Revenue
Investment income - -
Total gains on AFS - -
investments
Administrative costs (56) (78)
Share based payments - (25)
Operating (loss) (56) (103)
Finance costs - -
(Loss) before tax (56) (103)
Taxation - -
(Loss) for the period (56) (103)
Other comprehensive income
Translation exchange - -
(loss)/gain
Other comprehensive income - -
for the period net of
taxation
Total Comprehensive Income (56) (103)
for the year attributable to
the owners of the parent
company
(Loss) per share:
Basic and diluted (loss) per 2 (3.29) (10.96)
share (pence)
Unaudited Condensed Company Statement of Financial Position
as at 30 June 2019
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30 June 2019 31 December 2018
Unaudited Audited
Notes GBP'000 GBP'000
ASSETS
Non-current assets
Intangible assets 136 136
136 136
Current assets
Trade and other receivables 2 6
Cash and cash equivalents 384 450
386 456
Total assets 522 592
LIABILITIES
Current liabilities
Trade and other payables (33) (42)
Total current liabilities (33) (42)
Total liabilities (33) (42)
Net Assets 489 550
EQUITY
Equity attributable to
equity holders of the parent
Share capital - -
Share premium account 623 628
Share based payment reserve 25 25
Retained earnings (159) (103)
Total equity 489 550
Unaudited Condensed Company Statement of Changes in Equity
for the six months ended 30 June 2019
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******************
Share Share Share Retained Total
based
payment
reserve
capital premium earnings attributable
to owners
of parent
Unaudited GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Balance at 14 - - - - -
November 2017
Loss for the - - - (103) (103)
period
Total - - - (103) (103)
comprehensive
income for the
period
Shares issued - 723 723
Share issue (95) (95)
costs
Share options - - 25 - 25
issued
Transactions - 628 25 - 653
with owners of
the company
Balance at 31 - 628 25 (103) 550
December 2018
Loss for the - - - (56) (56)
period
Total - - - (56) (56)
comprehensive
income for the
period
Share Issue - (5) - - (5)
costs
Transactions - (5) - - (5)
with owners of
the company
Balance at 30 - 623 25 (159) 489
June 2019
Unaudited Condensed Company Statement of Cash Flows
for the six months ended 30 June 2019
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***********
6 months to Year to
30-Jun-19 31-Dec-18
Unaudited Audited
GBP'000 GBP'000
Cash flows from operating activities
Operating (loss) (56) (103)
Adjustments for:
Share based payment charge - 25
Decrease/(increase) in trade and other 4 (6)
receivables
(Decrease)/increase in trade and other (9) 42
payables
Net cash used in operating activities (61) (42)
Investing activities
Finance Costs - -
Investment in intangible assets - (13)
Net cash outflow in investing activities - (13)
Financing activities
Issue of share capital - 600
Issue costs (5) (95)
Net cash from financing activities (5) 505
Net change in cash and cash equivalents (66) 450
Cash and cash equivalents at beginning 450 -
of period
Cash and cash equivalents at end of 384 450
period
Notes to the condensed interim financial statements
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1. General Information
Basis of preparation and accounting
The financial information has been prepared on the historical cost basis. The
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