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DJ Angelfish Investments Plc Interim Results

 
TIDMANGP 
 
Angelfish Investments Plc 
 
                           ("ANGP" or "the Company") 
 
                Interim Results for the Period to 30 June 2016 
 
The board of Angelfish Investments Plc (the "Board") today announces the 
Company's unaudited results for the six months to 30 June 2016 (the "Period"). 
The Company reports an operating loss for the Period before interest 
receivable, amortisation and dividends payable to preference shareholders of GBP 
24,343 (2015: GBP70,132 loss) and a retained loss for the Period of GBP51,455 
(2015: GBP75,206 loss). 
 
Statement by the Board 
The Company extended its accounting period from 30 June 2016 to 31 December 
2016. Therefore the presented Interim Results below are for the six month 
period ended 30 June 2016. During the period the Company has continued to hold 
its investment in One Media Enterprises Limited ("OME"). OME is a UK 
incorporated holding company for a group of U.S. incorporated companies 
(generally referred to as "OneMedia") which are engaged in the sourcing, 
development, marketing and distribution of tech mobile devices including 
wearables specifically for healthcare management. OneMedia has continued to 
develop its partnership agreement with AT&T and will launch on AT&T's new 
Connected Marketplace web site targeted to the healthcare customer with a 
projected initial market launch in January 2017 and a full-scale healthcare 
launch in February 2017. The Board is pleased that OME continues to make valued 
advances in its refined business model which it believes will ultimately result 
in Angelfish realising value from this investment. 
 
During the period Angelfish received repayments of the investment of GBP250,000 
into Axis Capital Markets Limited ("Axis") previously Andes Financial Services 
Limited. This loan has now been fully repaid, with the final tranche of GBP50,000 
being repaid in the first week of July 2016. 
 
As part of its continued investment strategy Angelfish, on 31 March 2016, made 
a secured loan of GBP77,500 ("the Loan") to 4 Navitas (Green Energy Solutions) 
Limited ("4Navitas"). 4Navitas is a UK based engineering company that 
specialise in renewable energy technology. Based in Lancashire, 4Navitas have 
developed new technology to manufacture a vertical axis wind turbine, designed 
by 4Navitas with 11 patents pending and partnering with SIEMENS AG. On 3 June 
2016, Angelfish extended the Loan of GBP77,500 to 4 Navitas by a further GBP350,000 
secured over a floating charge over the assets of 4Navitas and for a period of 
6 months. The Board of Angelfish are currently in advanced discussions with the 
directors of 4Navitas to assist in rolling out their turbines either directly 
or in partnership under a joint venture agreement. 
 
Principal activities 
The principal activity of the Company is an Investment Vehicle, which is quoted 
on the ISDX Growth Market (formerly the PLUS-quoted market). 
 
No interim dividend is to be paid in relation to the Period.  No interim 
dividend was paid in relation to the six months to 31 December 2014. 
 
The Board intends to utilise the Company's ISDX Growth Market quotation to 
continue with its investment program, with a view to increasing shareholder 
value. 
 
 
 
On behalf of the Board 
 
Andrew Flitcroft 
Finance Director 
Angelfish Investments Plc 
28 September 2016 
 
 
 
 
 
INTERIM INCOME STATEMENT (UNAUDITED) 
 
For the year ended 30 June 2016 
 
                                                      Angelfish Investments plc 
 
                                         6 mths to      6 mths to        year to        year to 
 
                                           30 June        30 June         30-Jun         30-Jun 
 
                                              2016           2015           2016           2015 
 
                                             GBP GBP          GBP GBP          GBP GBP          GBP GBP 
 
Turnover                                     3,000        (6,000)          6,000          6,000 
 
Operating Expenses                               0              0              0              0 
 
Administrative Expenses                   (27,343)       (64,132)       (82,570)      (120,350) 
 
Other Operating Income                           0              0              0              0 
 
Operating Loss on Ordinary 
 
Activities Before Taxation                (24,343)       (70,132)       (76,570)      (114,350) 
 
Amortised Preference Share                (33,569)       (22,052)       (54,902)       (22,052) 
Premium 
 
Interest Receivable                         31,035         31,514         55,847         31,514 
 
Interest Payable - Preference             (24,578)       (14,536)       (48,930)       (22,712) 
Dividend 
 
Loss on Ordinary Activities               (51,455)       (75,206)      (124,555)      (127,600) 
Before Taxation 
 
Tax on Loss on Ordinary 
Activities                            -              -              -              - 
 
Retained Loss for Period                  (51,455)       (75,206)      (124,555)      (127,600) 
 
 
 
STATEMENTS OF FINANCIAL POSITION (UNAUDITED) 
 
As at 30 June 2016 
 
                                                    Angelfish Investments plc 
 
                                                            As at                 As at 
 
                                                          30 June               30 June 
 
                                                             2016                  2015 
 
                                                            GBP GBP                 GBP GBP 
 
Assets 
 
Non-current assets 
 
Property, plant and equipment                                   0                     0 
 
Goodwill                                                        0                     0 
 
Other intangibles                                               0                     0 
 
Investments                                               198,540               198,540 
 
                                                          198,540               198,540 
 
Current assets 
 
Trade and other receivables                               680,995               341,869 
 
Cash and cash equivalents                                 974,603               118,597 
 
                                                        1,655,598               460,466 
 
Total assets                                            1,854,138               659,006 
 
Equity and liabilities 
 
Equity 
 
Issued share capital                                       71,008                71,008 
 
Share premium                                                   0                     0 
 
Retained earnings                                          10,277               134,832 
 
                                                           81,285               205,840 
 
Non current liabilities 
 
Loans and borrowings                                    1,755,309               424,874 
 
Current liabilities 
 
Trade and other payables                                   17,544                28,292 
 
Total liabilities                                       1,772,853               453,166 
 
Total equity and liabilities                            1,854,138               659,006 
 
 
 
NOTES: 
 
1. The above financial information was approved by the Board on 28 September 
2016. 
 
2. The above financial information is unaudited and does not constitute 
statutory accounts within the meaning of Section 434 of the Companies Act 2006. 
 
3. There have not been any changes in accounting policies which affect the 
validity of the comparison of the financial information presented for the 
period to 30 June 2016 versus the comparative financial information presented 
for the period to 30 June 2015. 
 
4. The information in this announcement has not been reviewed by the Company's 
auditor. 
 
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS 
ANNOUNCEMENT. 
 
                                    --END-- 
 
 
Enquires: 
 
Angelfish Investments Plc 
Andrew Flitcroft                         +44 (0)7769 591096 
Finance Director 
 
ISDX Corporate Adviser 
Cairn Financial Advisers LLP 
David Coffman/Richard Nash               +44 (0)207 148 7900 
 
Broker 
SVS Securities Plc 
Kulvir Virk                              +44 (0)203 700 0100 
 
 
About Angelfish Investments Plc 
 
The Company's ordinary shares are admitted to trading on the ISDX Growth Market 
in London. The Company has the ISDX trading symbol ANGP for its ordinary shares 
and the ISDX trading symbol ANGS for its preferences shares. 
 
 
 
END 
 

(END) Dow Jones Newswires

September 29, 2016 02:00 ET (06:00 GMT)