Back to all announcements

DJ Hot Rocks Investments plc: FINAL RESULTS TO 31 MARCH 2019 AND NOTICE OF AGM

 
 Hot Rocks Investments plc (HRIP) 
Hot Rocks Investments plc: FINAL RESULTS TO 31 MARCH 2019 AND NOTICE OF AGM 
 
05-Sep-2019 / 12:48 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. 
 
 HOT ROCKS INVESTMENTS PLC 
 
 (the "Company") 
 
 AUDITED FINAL RESULTS TO 31 MARCH 2019 AND NOTICE OF AGM 
 
  CHAIRMAN'S STATEMENT 
 
I hereby present the financial results for the Company for the year ended 31 
  March 2019. The Company is an active investor primarily in junior natural 
  resources companies. 
 
   The Company made a pre-tax loss of GBP35,376 for the year, compared to a 
pre-tax loss of GBP219,298 in the prior year. The Company will not be paying a 
   dividend at this stage (2018: GBPNil). 
 
  Cash and cash equivalents as at the year end of 31 March 2019 were GBP46,745 
   (2018: GBP16,710). 
 
It has been quite a difficult period for small cap exploration companies and 
  we have seen some significant fluctuations in the valuations of our 
  investments during the period, both up and down. 
 
We are generally pleased with performance and are working on a number of new 
  projects to continue to add value to the portfolio. 
 
  We currently hold stakes in the following entities: 
 
  · Bermele plc (LSE:BERM) 
 
  · Bidstack Group plc (AIM:BIDS) 
 
  · Block Energy plc (AIM: BLOE) 
 
  · Brazil Tungsten Holdings Limited 
 
  · Copper Bay plc 
 
  · Elephant Oil Limited 
 
  · Impact Oil & Gas Limited 
 
  · Mafula Energy Limited 
 
  · MedGold Resources Corp (TSXV:MED) 
 
  · Minergy Limited 
 
  · New Horizon Oil & Gas Limited (trading as T5) 
 
  · Predator Oil & Gas Holdings plc (LSE:PRD) 
 
  · Rift Resources Limited 
 
  · Royal Road Minerals Limited (previously Tigris Resources) (TSXV:RYR) 
 
  · TAG Oil (TSX:TAO) 
 
  The Board of Directors will continue to introduce further equity positions 
 to the Company to enable additional diversification of the portfolio. It is 
  anticipated that these will continue to be primarily within the natural 
  resources sector. 
 
  Notice of AGM 
 
  Notice is hereby given that the AGM of the Company will be held at the 
 offices of Shakespeare Martineau at 60 Gracechurch Street, London, EC3V 0HR 
on 30 September 2019 at 11.30am. The notice of AGM will shortly be available 
  on the Company's website, together with the audited report and accounts. 
 
Brian Rowbotham 
 
  Non-Executive Chairman 
 
  The Directors of the issuer are responsible for the content of this 
  announcement. 
 
  For further information please contact: 
 
  Hot Rocks Investments plc 
 
  Gavin Burnell: 0207 264 4444 
 
  Peterhouse Capital Limited 
 
Guy Miller: 020 7220 9796 
HOT ROCKS INVESTMENTS PLC STATEMENT OF COMPREHENSIVE INCOME 
 
  YEAR ENDED 31 MARCH 2019 
 
                                         Note 2019     2018 
                   Continuing Operations      GBP        GBP 
 
                                 Revenue      -        - 
 
         Foreign exchange gain/(loss) on      20,897    (20,656) 
  financial assets at fair value through 
                         profit and loss 
                      Operating expenses      (50,060)  (48,369) 
            Share based payments expense      -        (115,600) 
     Movement in fair value of financial      (31,796)  (52,604) 
          assets through profit and loss 
  Other gains - sale of financial assets      35,572      17,922 
   at fair value through profit and loss 
                              Impairment      (10,000)         - 
                                              _______    _______ 
 
                          Operating Loss      (35,387) (219,307) 
 
                          Finance income      11               9 
                                              _______    _______ 
 
                  Loss before Income Tax      (35,376) (219,298) 
 
                      Income tax expense      -                - 
                                              _______    _______ 
 
Loss for the Year attributable to equity      (35,376) (219,298) 
                                 holders 
                                              _______    _______ 
 
              Other Comprehensive Income 
 
Items that may be Reclassified 
Subsequently to 
 
Profit or Loss 
 
           Fair value change in value on      -           78,469 
     available-for-sale financial assets 
                                              _______    _______ 
 
 Total Comprehensive (loss) for the Year      (35,376) (140,829) 
          attributable to equity holders 
                                              _______    _______ 
 
  Earnings Per Share - Basic and Diluted         (0.0)     (0.1) 
          (expressed in pence per share) 
                                              _______  _______ 
 
HOT ROCKS INVESTMENTS PLC STATEMENT OF FINANCIAL POSITION 
 
REGISTERED NUMBER 06163193 AT 31 MARCH 2019 
 
                                        Note     As at     As at 
 
                                              31 March  31 March 
 
                                                  2019      2018 
                                             GBP         GBP 
                                 Assets 
 
                     Non-Current Assets 
 
 Financial assets at fair value through        421,521   811,206 
                        profit and loss 
                                               _______   _______ 
 
                                               421,521   811,206 
                                               _______   _______ 
 
                         Current Assets 
 
 Financial assets at fair value through        348,714         - 
                        profit and loss 
              Cash and cash equivalents         46,745    16,710 
                                               _______   _______ 
                                               395,459    16,710 
 
                           Total Assets        816,980   827,916 
                                               _______   _______ 
 
                 Equity and Liabilities 
 
Equity Attributable to Shareholders 
 
                        Ordinary shares        173,602   173,602 
                  Share premium account      1,174,631 1,174,631 
     Share options and warrants reserve        115,600   115,600 
                         Other reserves              -   144,678 
                          Retained loss      (776,871) (886,173) 
                                               _______   _______ 
 
                                               686,962   722,338 
 
                    Current Liabilities 
 
               Trade and other payables        130,018   105,578 
                                               _______   _______ 
 
           Total Equity and Liabilities        816,980   827,916 
                                               _______   _______ 
 
HOT ROCKS INVESTMENTS PLC STATEMENT OF CHANGES IN EQUITY 
 
  YEAR ENDED 31 MARCH 2019 
 
                            Attributable to Equity Shareholders 
                     Ordinary Share     Share Other   Retained Total 
                     shares   premium  option reserve loss 
                                        s and s 
                                       warran 
                                           ts                  GBP 
                     GBP        GBP        reserv         GBP 
                                            e GBP 
 
                                       GBP 
 
 Balance as at 1     173,602  1,174,63 -      66,209  (666,875 747,567 
      April 2017              1                       ) 
 
                     ______            ______ _______          ________ 
                              ________                 _______ 
    Loss for the     -        -        -      -       (219,298 (219,298 
            year                                      )        ) 
 
Total Comprehensive  -        -        -      -       (219,298 (219,298 
Income                                                )        ) 
                     ______   ______   ______ _______ _______  _______ 
 
Fair value           -        -        -      78,469  -        78,469 
change on 
available for 
sale financial 
assets 
Warrants issued      -        -        115,60 -       -        115,600 
in the year                            0 
 
                     ______   ______          _______ _______  _______ 
                                       ______ 
Total                -        -        115,60 78,469  -        194,069 
Transactions                           0 
with Owners 
                     ______   ______   ______ _______ _______  ________ 
 
Balance as at 31     173,602  1,174,63 115,60 144,678 (886,173 722,338 
March 2018 and 1              1        0              ) 
April 2018 
 
                     ______                   _______          ________ 
                              ________ ______         _______ 
 
Reclassification     -        -        -      (144,67 144,678  - 
on                                            8) 
implementation 
of IFRS 9 
 
Loss for the         -        -        -      -       (35,376) (35,376) 
year 
                     ______   ______   ______ _______ _______  _______ 
                     -        -        -      -       -        - 
 
Total Comprehensive 
Income 
                     ______   ______   ______ _______ _______  _______ 
Total 
Transactions 
with 
Owners               -        -        -      -       -        - 
                     ______   ______   ______ _______ _______  ________ 
Recycling of         -        -        -      -       -        - 
share options 
 
Balance as at 31     173,602  1,174,63 115,60 -       (776,871 686,962 
March 2019                    1        0              ) 
 
                     ______                   _______          ________ 
                              ________ ______         _______ 
 

(MORE TO FOLLOW) Dow Jones Newswires

September 05, 2019 07:48 ET (11:48 GMT)

DJ Hot Rocks Investments plc: FINAL RESULTS TO 31 -2-

  HOT ROCKS INVESTMENTS PLC STATEMENT OF CASH FLOWS 
 
  YEAR ENDED 31 MARCH 2019 
 
                                              2019     2018 
                                              GBP        GBP 
 
Cash Flows from Operating Activities 
(Loss) before income tax                      (35,376) (219,298) 
Finance income                                    (11)       (9) 
Unrealised foreign exchange loss/(gain)       (20,897)    20,656 
Impairment                                      10,000         - 
Share based payments                                 -   115,600 
Gain on disposal of financial assets          (35,572)  (17,922) 
through profit and loss 
Movement in fair value of financial assets      31,796    52,604 
through profit and loss 
Decrease in other receivables                        -       720 
(Decrease)/Increase in trade and other          24,337     4,082 
payables 
                                               _______   _______ 
 
Cash Used in Operations                       (25,723)  (43,567) 
Interest paid                                        -         - 
Income tax paid                                      -         - 
                                               _______   _______ 
 
Net Cash Used in Operations                   (25,723)  (43,567) 
                                               _______   _______ 
 
Cash Flows from Investing Activities 
Purchases of financial assets through         (62,340)   (5,869) 
profit and loss 
Proceeds from disposal of financial assets     118,098    53,930 
through profit and loss 
                                               _______   _______ 
 
Net Cash Generated from Investing               55,758    48,061 
Activities 
 
                                               _______   _______ 
 
Increase/(decrease) in Cash and Cash            30,035     4,494 
Equivalents 
 
Cash and cash equivalents at the beginning      16,710    12,216 
of the year 
                                               _______   _______ 
 
Cash and Cash Equivalents at the End of the     46,745    16,710 
Year 
                                               _______   _______ 
 
ISIN:          GB00B1WV3198 
Category Code: MSCH 
TIDM:          HRIP 
Sequence No.:  19119 
EQS News ID:   869175 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

September 05, 2019 07:48 ET (11:48 GMT)