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DJ Veni Vidi Vici Limited: Audited Final Results to 31 December 2019

 
 Veni Vidi Vici Limited (VVV) 
Veni Vidi Vici Limited: Audited Final Results to 31 December 2019 
 
12-May-2020 / 13:19 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. 
 
         12 May 2020 
 
    Veni Vidi Vici Limited 
 
    (The "Company" or "VVV") 
 
    Audited Final Results to 31 December 2019 
 
    I am pleased to present the annual report and financial statements for the 
         period ended 31 December 2019. 
 
         OPERATIONS REVIEW 
 
    On 2 August 2018, the Company completed its successful listing on the AQSE 
   Growth Market (formerly 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 strategy to focus on identifying investment 
   opportunities and acquisitions in companies in the Precious Metals and Base 
         Metals sectors in Australia, Western Europe and North America. 
 
     On 10 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 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, 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"). 
 
   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. 
 
During the period, the Company was advised that limited work was undertaken on 
    the Shangri La Project, mainly desk studies. We anticipate further work to 
 occur during 2020. In addition Mr Lucas resigned as a director in August 2019 
         and Mr Strang was appointed to the board in October 2019. 
 
  The Company continues to monitor covid-19 effects on the Company. We believe 
      this will have limited affect on any future work anticipated on our West 
 Australia project as there are very few cases in this state and interruptions 
         are somewhat less. 
 
         FINANCE REVIEW 
 
      The loss for the period to 31 December 2019 amounted to GBP107,000 (2018 - 
   GBP103,000 loss) which mainly related to regulatory costs and other corporate 
       overheads. The total revenue for the period was nil (2018 - nil). At 31 
   December 2019, the Company had cash balances of GBP354,000 (2018 - GBP450,000). 
 
The directors do not recommend the payment of a dividend for the year ended 31 
         December 2020. 
 
         OUTLOOK 
 
We look forward to 2020 being one in which we can continue to seek out further 
investments in line with the Company's investing strategy. The directors would 
like to take this opportunity to thank our shareholders, staff and consultants 
         for their continued support. 
 
         Mahesh Pulandaran 
 
         Executive Chairman 
 
         12 May 2020 
 
   The directors of the Company accept responsibility for the contents of this 
         announcement. 
 
         For further information please contact 
 
         Company: 
 
         Donald Strang: +44 (0) 207 440 0640 
 
         AQSE Growth Market Corporate Adviser 
 
         Guy Miller/Allie Feuerlein 
 
         Peterhouse Capital Limited 
 
         +44 (0) 20 7220 9795 
 
         Financial statements 
 
Statement of comprehensive income for the year ended to 31 December 2019 
 
______________________________________________________________________________ 
         ____________ 
 
                                         Year ended Period ended 
                                   31 December 2019 
 
                                                     31 December 
 
                                                            2018 
                              Note            GBP'000        GBP'000 
 
                      Revenue  4 
            Investment income                     -            - 
 
                Total revenue                     -            - 
 
      Administration expenses                 (107)         (78) 
   Share based payment charge                     -         (25) 
 
             Operating (loss)  5              (107)        (103) 
 
                Finance costs                     -            - 
 
       (Loss) before taxation                 (107)        (103) 
 
                     Taxation  7                  -            - 
 
        (Loss) for the period                 (107)        (103) 
       attributable to equity 
       holders of the company 
 
   Other comprehensive income 
         Translation exchange                     -            - 
                  (loss)/gain 
   Other comprehensive income                     -            - 
        for the period net of 
                     taxation 
 
   Total comprehensive income                 (107)        (103) 
  for the period attributable 
     to equity holders of the 
                      company 
 
               Loss per share 
    Basic and diluted (pence)  8             (6.25)      (10.96) 
 
   The accompanying accounting policies and notes form part of these financial 
         statements. 
 
Statement of financial position as at 31 December 2019 
 
______________________________________________________________________________ 
         ____________ 
 
                                 31 December 31 December 
                                        2019        2018 
                            Note       GBP'000       GBP'000 
 
         Non-current assets 
          Intangible assets  9           136         136 
 
             Current assets 
  Trade & other receivables  10           18           6 
  Cash and cash equivalents              354         450 
                                         372         456 
 
               Total assets              508         592 
 
        Current liabilities 
   Trade and other payables  11         (70)        (42) 
                                        (70)        (42) 
 
Net current assets                       302         414 
 
Net assets                               438         550 
 
                     Equity 
              Share capital  12            -           - 
      Share premium account              623         628 
Share based payment reserve               25          25 
          Retained earnings            (210)       (103) 
                                         438         550 
 
The financial statements of Veni Vidi Vici Ltd (registered number 196048) were 
approved by the Board of Directors and authorised for issue on 12 May 2020 and 
         were signed on its behalf by: 
 
         Mahesh Pulandaran Donald Strang 
 
         Director Director 
 
   The accompanying accounting policies and notes form part of these financial 
         statements. 
 
Statement of changes in equity for the year ended 31 December 2019 
 
______________________________________________________________________________ 
         ____________ 
 
                    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    (103)   550 
2018 
 
(Loss) for the          -       -               -    (107) (107) 
period 
Total                   -       -               -    (107) (107) 
Comprehensive 
Income 
 
Share issue costs       -     (5)               -        -   (5) 
Total                   -     (5)               -        -   (5) 
contributions by 
and distributions 
to owners of the 
Company 
 
At 31 December          -     623              25    (210)   438 
2019 
 
   The accompanying accounting policies and notes form part of these financial 
         statements. 
 
Statement of cash flows for the year ended to 31 December 2019 
 
______________________________________________________________________________ 
         ____________ 
 
                                         Year ended Period ended 
                                        31 Dec 2019  31 Dec 2018 
                                              GBP'000        GBP'000 
 Cash flows from operating activities 
                     Operating (loss)         (107)        (103) 
           Share based payment charge             -           25 
          (Increase) in trade & other          (12)          (6) 
                          receivables 
 Increase in trade and other payables            28           42 
 
        Net cash outflow in operating          (91)         (42) 

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DJ Veni Vidi Vici Limited: Audited Final Results to -2-

                           activities 
 
                 Investing activities 
                        Finance costs             -            - 
       Investment in intangible asset             -         (13) 
 
Net cash outflow in investing                     -         (13) 
activities 
 
                 Financing activities 
               Issue of share capital             -          600 
                          Issue costs           (5)         (95) 
 
Net cash inflow from financing                  (5)          505 
activities 
 
Net (decrease)/increase in cash and            (96)          450 
cash equivalents 
 
         Cash and cash equivalents at           450            - 
                  beginning of period 
 
Cash and cash equivalents at end of             354          450 
period 
 
   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, 
         Road Town, Tortola, VG1110, British Virgin Islands. The 
  Company's ordinary shares are traded on the AQSE growth market 
      (formerly NEX Exchange Growth Market) as operated by Aquis 
                           Stock Exchange Exchange Ltd ("AQSE"). 
 
     The financial statements of Veni Vidi Vici Ltd for the year 
   ended 31 December 2019 were authorised for issue by the Board 
  on 12 May 2020 and the statements of financial position signed 
   on the Board's behalf by Donald Strang and Mahesh Pulandaran. 
 
                                                Investing policy 
 
            The investment strategy of the Company is to provide 
           Shareholders with an attractive total return achieved 
   primarily through capital appreciation. The Directors believe 
    that there are numerous investment opportunities within both 
   private and public businesses in the Base Metals and Precious 
                   Metals sector in North America and Australia. 
 
       The Board, through its extensive network of contacts, has 
       identified a number of potentially interesting investment 
    opportunities, although formal discussions in respect of any 
                  of these opportunities have not yet commenced. 
 
      The Company is likely to be an active investor and acquire 
        control of certain target companies although it may also 
  consider acquiring non-controlling shareholdings. The proposed 
   investments to be made by the Company may be in either quoted 
     or unquoted securities and made by direct acquisition of an 
       interest in companies, partnerships or joint ventures, or 
         direct interests in projects and can be at any stage of 
    development. Accordingly, the Company's equity interest in a 
   proposed investment may range from a minority position to 100 
                 per cent. ownership and a controlling interest. 
 
       If the Company takes a controlling stake, the acquisition 
      could trigger a Reverse Takeover under Rule 57 of the AQSE 
                                            growth market Rules. 
 
      The Directors intend to acquire one or more investments in 
      quoted or unquoted businesses or companies (in whole or in 
  part) thereby creating a platform for further investments. The 
   Company may need to raise additional funds for these purposes 
                            and may use both debt and/or equity. 
 
      The Directors and the Technical Adviser believe that their 
     broad, collective experience, together with their extensive 
           network of contacts, will assist them in identifying, 
       evaluating and funding suitable investment opportunities. 
  External advisers and investment professionals, over and above 
   the Technical Adviser, will be engaged as necessary to assist 
   with sourcing and due diligence of prospective opportunities. 
          The Directors will also consider appointing additional 
          directors with relevant experience if the need arises. 
 
          It is anticipated that returns to Shareholders will be 
     delivered primarily through an appreciation in the price of 
        the Ordinary Shares rather than capital distribution via 
   regular dividends. In addition, there may be opportunities to 
             spin out businesses in the form of distributions to 
      Shareholders or make trade sales of business divisions and 
  therefore contemplate returns via special dividends. Given the 
  nature of the investment strategy, the Company does not intend 
          to make additional regular and periodic disclosures or 
     calculations of net asset value outside of the requirements 
      for a AQSE growth market traded company. It is anticipated 
   that the Company will hold investments for the medium to long 
       term, although where opportunities exist for shorter term 
        investments, the Company may undertake such investments. 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
                                    Investing policy (continued) 
 
  In compliance with Rule 51 of the AQSE growth market Rules, if 
    the Company (as an Investment Vehicle) has not substantially 
   implemented its investing policy after the period of one year 
       following Admission, it will seek Shareholder approval in 
   respect of the subsequent year for the further pursuit of its 
                                            investment strategy. 
 
        Pursuant to Rule 49 of the AQSE growth market Rules, the 
              Company (as an Investment Vehicle), is required to 
        substantially implement its investment strategy within a 
  period of two years following Admission. In the event that the 
         Company has not undertaken a transaction constituting a 
        Reverse Takeover under Rule 54 of the AQSE growth market 
           Rules, or if it has otherwise failed to substantially 
  implement its investment strategy within such two year period, 
        AQSE growth market will suspend trading of the Company's 
  Issued Share Capital in accordance with Rule 74(e) of the AQSE 
      Growth Market Rules for Issuers. If suspension occurs, the 
         Directors will consider returning the Company's cash to 
              Shareholders after deducting all related expenses. 
 
    The Directors intend to review the investment strategy on an 
    annual basis and, subject to their review and in the absence 
    of unforeseen circumstances, the Directors intends to adhere 
  to the investment strategy. Changes to the investment strategy 
  may be prompted, inter alia, by changes in government policies 
      or economic conditions which alter or introduce additional 
  investment opportunities. It is the intention of the Directors 
  to invest the Company's cash resources, as far as practicable, 
     in accordance with the investment strategy. However, due to 
    market and other investment considerations, it may take some 
         time before the cash resources of the Company are fully 
                                                       invested. 
 
        It is intended that the funds initially available to the 
            Company will be used to meet general working capital 
    requirements, to undertake due diligence on potential target 
     acquisitions and to make investments in accordance with the 
                          investment guidelines described above. 
 
                               Statement of compliance with IFRS 
  The financial statements have been prepared in accordance with 
   International Financial Reporting Standards (IFRS) as adopted 
     by the European Union and as applied in accordance with the 
          provisions of the BVI Business Companies Act 2004. The 
    principal accounting policies adopted by the Company are set 
                                                      out below. 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
    New standards, amendments and interpretations adopted by the 
                                                         Company 
 
   No new and/or revised Standards and Interpretations have been 
    required to be adopted, and/or are applicable in the current 
          period by/to the Company, as standards, amendments and 
    interpretations which are effective for the financial period 
    beginning on 1 January 2019 are not material to the Company. 
 
   New standards, amendments and interpretations not yet adopted 
 
     At the date of authorisation of these financial statements, 
      the following Standards and Interpretations which have not 
   been applied in these financial statements, were in issue but 
                     not yet effective for the period presented: 
 
   - IFRS 17 in respect of Insurance Contracts will be effective 
     for accounting periods beginning on or after 1 January 2021 
 
  There are no other IFRSs or IFRIC interpretations that are not 
  yet effective that would be expected to have a material impact 
                                                 on the Company. 
 
                                                   Going Concern 
    The Directors noted the losses that the Company has made for 
    the Year Ended 31 December 2019. The Directors have prepared 
    cash flow forecasts for the period ending 30 June 2021 which 
   take account of the current cost and operational structure of 
                                                    the Company. 
 

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DJ Veni Vidi Vici Limited: Audited Final Results to -3-

   The cost structure of the Company comprises a high proportion 
     of discretionary spend and therefore in the event that cash 
       flows become constrained, costs can be quickly reduced to 
     enable the Company to operate within its available funding. 
 
     These forecasts demonstrate that the Company has sufficient 
  cash funds available to allow it to continue in business for a 
   period of at least twelve months from the date of approval of 
          these financial statements. Accordingly, the financial 
         statements have been prepared on a going concern basis. 
 
       It is the prime responsibility of the Board to ensure the 
     Company remains as going concerns. At 31 December 2019, the 
           Company had cash and cash equivalents of GBP354,000 and 
         borrowings of GBPnil. The Company has minimal contractual 
     expenditure commitments and the Board considers the present 
         funds sufficient to maintain the working capital of the 
     Company for a period of at least 12 months from the date of 
   signing the Annual Report and Financial Statements. For these 
      reasons the Directors adopt the going concern basis in the 
                        preparation of the Financial Statements. 
 
                                            Basis of preparation 
   The financial statements have been prepared on the historical 
  cost basis, except for the measurement to fair value of assets 
        and financial instruments as described in the accounting 
                   policies below, and on a going concern basis. 
 
     The financial report is presented in Pound Sterling (GBP) and 
   all values are rounded to the nearest thousand pounds (GBP'000) 
                                        unless otherwise stated. 
 
Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
___________ 
 
2                                Significant accounting policies 
 
                        Revenue recognition 
   Revenue is measured at the fair value of 
   the consideration received or receivable 
   and represents amounts from the sales of 
     goods provided in the normal course of 
       business, net of value added tax and 
      discounts, and is recognised when the 
           significant risks and rewards of 
         ownership of the product have been 
  transferred to a third party. In the case 
    of sale or return transactions, revenue 
   is only recognised when, and only to the 
          level that, risks and rewards are 
                               transferred. 
 
     Revenue is the invoiced value of goods 
     and services supplied and excludes VAT 
               and other sales-based taxes. 
 
         Finance costs / investment revenue 
       Borrowing costs are recognised as an 
                     expense when incurred. 
 
    Investment revenue is recognised as the 
  Company becomes entitled to such revenue. 
     Dividends are accounted for on receipt 
                                   thereof. 
 
                      Financial instruments 
             Financial assets and financial 
          liabilities are recognised on the 
  Company's statement of financial position 
    when the Company becomes a party to the 
  contractual provisions of the instrument. 
 
      The Company's activities give rise to 
    some exposure to the financial risks of 
      changes in interest rates and foreign 
   currency exchange rates. The Company has 
    no borrowings and is principally funded 
    by equity, maintaining all its funds in 
                             bank accounts. 
 
                           Financial assets 
   Financial assets are classified into the 
  following specified categories; financial 
    assets "at fair value through profit or 
          loss" (FVTPL), "held to maturity" 
          investments, investments in joint 
     ventures, and "loans and receivables". 
   The classification depends on the nature 
    and purpose of the financial assets and 
       is determined at the time of initial 
                               recognition. 
 
                Investment in joint venture 
           A joint venture is a contractual 
  arrangement whereby the Company and other 
     parties undertake an economic activity 
  that is subject to joint control; that is 
           when the strategic financial and 
     operating policy decisions relating to 
       the activities require the unanimous 
    consent of the parties sharing control. 
 
     These financial statements include the 
    Company's share of the total recognised 
   gains and losses of joint ventures using 
      the equity method, from the date that 
     significant influence or joint control 
      commences to the date that it ceases, 
   based on present ownership interests and 
         excluding the possible exercise of 
          potential voting rights, less any 
      impairment losses. When the Company's 
       interest in a joint venture has been 
       reduced to nil because the Company's 
    share of losses exceeds its interest in 
        the joint venture, the Company only 
      provides for additional losses to the 
       extent that it has incurred legal or 
      constructive obligations to fund such 
      losses, or where the Company has made 
   payments on behalf of the joint venture. 
   Where the disposal of an investment in a 
   joint venture is considered to be highly 
      probable, the investment ceases to be 
          equity accounted and, instead, is 
  classified as held for sale and stated at 
      the lower of carrying amount and fair 
                  value less costs to sell. 
 
         Reversals of impairment losses are 
        recognised in the income statement. 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
2                    Significant accounting policies (continued) 
 
                                                          Equity 
   Share capital is determined using the nominal value of shares 
                                          that have been issued. 
 
   The share premium account represents premiums received on the 
     initial issuing of the share capital. Any transaction costs 
   associated with the issuing of shares are deducted from share 
                premium, net of any related income tax benefits. 
 
  The share based payment reserve is used to record the value of 
  equity benefits provided to employees and Directors as part of 
     their remuneration and provided to consultants and advisers 
           hired by the Company from time to time as part of the 
                                             consideration paid. 
 
  Retained earnings include all current and prior period results 
                           as disclosed in the income statement. 
 
                                    Intangible Assets - Licences 
 
    Licences are recognised as an intangible asset at historical 
  cost and are carried at cost less accumulated amortisation and 
  accumulated impairment losses. The licences have a finite life 
    and no residual value and are amortised over the life of the 
                                                        licence. 
 
                                       Cash and cash equivalents 
  Cash and cash equivalents includes cash in hand, deposits held 
    at call with banks, and bank overdrafts. Bank overdrafts are 
          shown within current liabilities on the balance sheet. 
 
                                           Financial liabilities 
      Financial liabilities are obligations to pay cash or other 
  financial assets and are recognised when the Company becomes a 
          party to the contractual provisions of the instrument. 
 
    All financial liabilities initially recognised at fair value 
      less transaction costs and thereafter carried at amortised 
                  cost using the effective interest method, with 
    interest-related charges recognised as an expense in finance 
          cost in the income statement. A financial liability is 
     derecognised only when the obligation is extinguished, that 
  is, when the obligation is discharged or cancelled or expires. 
 
                                                  Trade payables 
       Trade payables are non-interest-bearing and are initially 
   measured at fair value and thereafter at amortised cost using 
                                    the effective interest rate. 
 
                                                        Taxation 
         The tax expense represents the sum of the tax currently 
                                       payable and deferred tax. 
 
    The tax currently payable is based on taxable profit for the 
  period. Taxable profit differs from the net profit as reported 
  in the income statement because it excludes items of income or 
  expense that are taxable or deductible in other periods and it 
    further excludes items that are never taxable or deductible. 
     The Company's liability for current tax is calculated using 
    tax rates that have been enacted or substantively enacted by 
                                         the balance sheet date. 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
2                    Significant accounting policies (continued) 
 
                                                      Provisions 
        Provisions are recognised when the Company has a present 
     obligation as a result of a past event, it is probable that 
    the Company will be required to settle that obligation and a 
  reliable estimate can be made of the amount of the obligation. 
    The amount recognised as a provision is the best estimate of 
  the consideration required to settle the present obligation at 
       the balance sheet date, taking into account the risks and 

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DJ Veni Vidi Vici Limited: Audited Final Results to -4-

                        uncertainties surrounding the obligation 
 
                                            Share based payments 
  When the Company issues equity-settled share-based benefits to 
          employees, all equity-settled share-based payments are 
    ultimately recognised as an expense in profit or loss with a 
                               corresponding credit to reserves. 
 
       If vesting periods or other non-market vesting conditions 
  apply, the expense is allocated over the vesting period, based 
   on the best available estimate of the number of share options 
   expected to vest. Estimates are subsequently revised if there 
  is any indication that the number of share options expected to 
            vest differs from previous estimates. Any cumulative 
        adjustment prior to vesting is recognised in the current 
      period. No adjustment is made to any expense recognised in 
         prior periods if share options ultimately exercised are 
                         different to that estimated on vesting. 
 
    Upon exercise of any share options the proceeds received net 
         of attributable transaction costs are credited to share 
                   capital, and where appropriate share premium. 
 
3   Critical accounting judgements and key sources of estimation 
                                                     uncertainty 
 
   In the process of applying the Company's accounting policies, 
       as described in note 2, management has made the following 
         judgements that have the most significant effect on the 
                 amounts recognised in the financial statements. 
 
                  Valuation of share-based payments to employees 
 
         The Company estimates the expected value of share-based 
    payments to employees and this is charged through the income 
  statement over the vesting period. The fair value is estimated 
        using the Black Scholes valuation model which requires a 
         number of assumptions to be made such as level of share 
       vesting, time of exercise, expected length of service and 
    employee turnover and share price volatility. This method of 
     estimating the value of share-based payments is intended to 
        ensure that the actual value transferred to employees is 
                provided for by the time such payments are made. 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
4                                          Segmental information 
 
      An operating segment is a distinguishable component of the 
       Company that engages in business activities from which it 
           may earn revenues and incur expenses, whose operating 
           results are regularly reviewed by the Company's chief 
            operating decision maker to make decisions about the 
       allocation of resources and assessment of performance and 
        about which discrete financial information is available. 
 
         The chief operating decision maker has defined that the 
         Company's only reportable operating segments during the 
       period is that of investment within the Precious and Base 
                                                  Metals Sector. 
 
          Subject to further acquisitions the Company expects to 
             further review its segmental information during the 
                                   forthcoming financial period. 
 
        The Company has not generated any revenues from external 
                           customers during the reported period. 
 
        In respect of the total assets of GBP508,000, all arise in 
       the company and within the Investment sector noted above. 
 
5             Operating loss 
 
                                       Period to 31 Period to 31 
                                           Dec 2019     Dec 2018 
                                              GBP'000        GBP'000 
    Operating loss is stated 
             after charging: 
     Directors' remuneration                     51           38 
         Share option charge                      -           25 
                  Audit fees                     10           10 
 
  Included in share options is GBP21,000 relating to directors. 
 
          In addition to auditors' remuneration shown above, the 
              auditors received the following fees for non-audit 
                                                       services. 
                                    2019                    2018 
                                   GBP'000                   GBP'000 
    Other financial advisory           -                       - 
                    services 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
6   Directors' emoluments                   2019            2018 
                                           GBP'000           GBP'000 
        Fees and benefits                     51              59 
 
          Fees and            Share based 
          salaries               payments                  Total 
     2019    GBP'000                  GBP'000                  GBP'000 
 
        M       18                      -                     18 
  Pulanda 
      ran 
        D        6                      -                      6 
   Strang 
  A Lucas        9                      -                      9 
        C       18                      -                     18 
   Gordon 
                51                      -                     51 
 
          Fees and            Share based 
          salaries               payments                  Total 
     2018    GBP'000                  GBP'000                  GBP'000 
 
        M       20                      7                     27 
  Pulanda 
      ran 
  A Lucas        9                      7                     16 
        C        9                      7                     16 
   Gordon 
                38                     21                     59 
 
          Directors' fees totalling GBP24,000 have been accrued as 
                            at 31 December 2019 (2018: GBP13,500). 
 
         Directors' have no pension benefits which are accruing. 
 
  1) M Pulandaran appointed as a director on 14 
  November 2017. 
 
  2) A Lucas appointed as a director on 6 July 2018, 
  and resigned 16 August 2019. 
 
  3) C Gordon appointed 6 July 2018. 
 
  4) D Strang appointed 22 October 2019 
 
           The Company has no other directly employed personnel. 
 
7                        Taxation             Year ended  Period 
                                                           to 31 
                                             31 Dec 2019     Dec 
                                                            2018 
                                                   GBP'000   GBP'000 
 
                Total current tax                      -       - 
 
          The actual tax charges for the period differs from the 
               standard rate applicable in the UK of 19% for the 
                reasons set out in the following reconciliation: 
                                                    2019    2018 
                                                   GBP'000   GBP'000 
 
      Loss on ordinary activities                  (107)   (103) 
                       before tax 
 
        Tax thereon @ rates above                   (20)    (20) 
     Factors affecting charge for 
                      the period: 
                Losses arising in                     20      20 
      territories where no tax is 
                          charged 
 
       Current tax charge for the                      -       - 
                           period 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
8                                                 Loss per share 
                                               2019         2018 
  The calculation of loss per share is        GBP'000        GBP'000 
      based on the loss after taxation 
       divided by the weighted average 
  number of shares in issue during the 
                               period: 
 
      Net loss after taxation (GBP000's)        (107)        (103) 
 
                      Number of shares 
   Weighted average number of ordinary 
      shares for the purposes of basic 
                        loss per share 
 
                                          1,720,003      933,691 
 
      Basic and diluted loss per share       (6.25)      (10.96) 
                  (expressed in pence) 
 
      As inclusion of the potential ordinary shares would result 
     in a decrease in the earnings per share they are considered 
      to be anti-dilutive, as such, a diluted earnings per share 
                                                is not included. 
 
9               Intangible assets  31 December  31 December 
                                          2019         2018 
                Licences interest        GBP'000        GBP'000 
 
                  Opening balance          136            - 
      Purchased during the period            -          136 
                       Impairment            -            - 
  At 31 December - carrying value          136          136 
 
    On 10 December 2018, the Company completed 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 payable for the Tenement Interest is 
    A$220,000 (the "Purchase Price"), satisfied by A$20,000 
          paid by the Company to Goldfields in cash and the 
      issuance of 190,000 ordinary fully paid shares in the 

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DJ Veni Vidi Vici Limited: Audited Final Results to -5-

                                    capital of the Company. 
 
          VVV 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. 
 
         As at 31 December 2019, there has been no activity 
    within the JVA, and no financial information thereon to 
         disclose. The Directors have reviewed the carrying 
    value and have deemed no impairment is required for the 
                               year ended 31 December 2019. 
 
10           Trade and other 
                 receivables 
                               31 December 2019 31 December 2018 
                                          GBP'000            GBP'000 
     Current trade and other 
                    payables 
                 Prepayments                 18                6 
                       Total                 18                6 
 
The fair value of these financial assets is not individually determined as the 
         carrying amount is a reasonable approximation of fair value. 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
11         Trade and other payables 
                                     31 December  31 December 
                                            2019         2018 
                                           GBP'000        GBP'000 
   Current trade and other payables 
                    Trade creditors           30            - 
                           Accruals           40           42 
                              Total           70           42 
 
  The fair value of trade and other payables has not been disclosed as, due to 
 their short duration, management considers the carrying amounts recognised in 
       the balance sheet to be a reasonable approximation of their fair value. 
 
12         Share capital         31 December         31 December 
                                        2019                2018 
                                       GBP'000               GBP'000 
 
    Allotted, issued and 
              fully paid 
   1,720,003 ordinary                      -                   - 
   shares of nil par 
   value each 
 
         Shares issued during the period ended 31 December 2018: 
 
   · On incorporation on 14 November 2017, 1 share was 
   issued for GBP1.00. 
 
   · 550,000 shares were issued by the Company, by way of a 
   placing on 21 December 2017 for cash at a price of 20p 
   per share raising GBP110,000. 
 
   · 980,002 shares were issued by way of a placing on 6 
   July 2018 at a price of 50p per share raising GBP490,001. 
 
   · 190,000 shares were issued for non-cash consideration 
   at 65p per share on acquisition of the Company's interest 
   in Shangri La JV. 
 
           Shares issued during the year ended 31 December 2019: 
 
   · No shares were issued during the current financial 
   year. 
 
       The total number of shares issued during the year was nil 
                                        (2018:1,720,003 shares). 
 
                                               Warrants in issue 
 
     As at 31 December 2019, 30,600 warrants remain outstanding. 
     No warrants were issued during the year (2018: 30,600), and 
         no warrants were exercised, or lapsed during the period 
                                         ended 31 December 2019. 
 
                All of the warrants in issue and outstanding are 
       exercisable at 50p per share, for a period up to 1 August 
                                                           2023. 
 
                                                   Share Options 
 
            The Company has as at 31 December 2019, 75,000 share 
            options in issue and outstanding. During the year no 
             options were issued (2018: 75,000), no options were 
                                 exercised, cancelled or lapsed. 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
13  Share based payments 
 
         Share Options 
 
    The Company operates share option schemes for certain employees (including 
 directors). Options are exercisable at the option price agreed at the date of 
 grant. The options are settled in equity once exercised. The expected life of 
  the options is 5 years. All options issued in the period to 31 December 2018 
         vested immediately, with no vesting requirements. 
 
Details of the number of share options and the weighted average exercise price 
         (WAEP) outstanding during the period are as follows: 
 
                31 December 2019          31 December 2018 
                  Number        WAEP    Number              WAEP 
                                                               GBP 
 Outstanding      75,000        0.50         -                 - 
      at the 
beginning of 
  the period 
     Granted           -           -    75,000              0.50 
   Exercised           -           -         -                 - 
 Outstanding      75,000        0.50    75,000              0.50 
  at the end 
 of the year 
 Exercisable      75,000                75,000 
 at year end 
 
The share options outstanding at the end of the period have a weighted average 
  remaining contractual life of 3.58 (2018: 4.58) years and have the following 
         exercise prices and fair values at the date of grant: 
 
    First Grant date    Exercise      Fair         31         31 
 exercise                  price     value   December   December 
     date                                        2019       2018 
    (when 
  vesting 
condition 
    s are 
     met) 
                               GBP         GBP     Number     Number 
 
 2 August   2 August        0.50      0.33     75,000     75,000 
     2018       2018 
                                               75,000     75,000 
 
         At 31 December 2019 75,000 options were exercisable (2018: 75,000). 
 
  For those options and warrants granted where IFRS 2 "Share-Based Payment" is 
applicable, the fair values were calculated using the Black-Scholes model. The 
         inputs into the model for the current and prior year were as follows: 
 
           Risk free    Share price  Expected life  Share price 
              rate      volatility                  at date of 
                                                       grant 
 2 August     1.0%         0.84        60 months      GBP0.50 
     2018 
 
Expected volatility was determined by calculating the historical volatility of 
      similar listed companies share prices for 12 months prior to the date of 
        grant. The expected life used in the model has been adjusted, based on 
  management's best estimate, for the effects of non-transferability, exercise 
         restrictions and behavioural considerations. 
 
        The Company therefore recognised total expenses of GBP25,000 relating to 
    equity-settled share-based payment transactions during the period ended 31 
         December 2018. 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
14         Financial 
         instruments 
       The Company's financial instruments comprise cash at bank 
                and payables which arise in the normal course of 
       business. It is, and has been throughout the period under 
        review, the Company's policy that no speculative trading 
       in financial instruments shall be undertaken. The Company 
           has been solely equity funded during the period. As a 
                result, the main risk arising from the Company's 
                         financial instruments is currency risk. 
 
              Details of the significant accounting policies and 
        methods adopted, including the criteria for recognition, 
          the basis of measurement and the basis on which income 
        and expenses are recognised, in respect of each class of 
                 financial asset, financial liability and equity 
             instrument are disclosed in note 2 of the accounts. 
 
                                                   2019     2018 
                                                  GBP'000    GBP'000 
           Financial assets (current) 
            Cash and cash equivalents               354      450 
 
      Financial liabilities (current) 
            Trade payables & accruals                70       42 
 
                           Interest rate risk and liquidity risk 
 
            The Company is funded by equity, maintaining all its 
         funds in bank accounts. The Company's policy throughout 
             the period has been to minimise the risk of placing 
           available funds on short term deposit. The short-term 
        deposits are placed with banks for periods up to 1 month 
                              according to funding requirements. 
 
       The Company had no undrawn committed borrowing facilities 
                                  at any time during the period. 
 
                                                   Currency risk 
 
         The Company is directly exposed to currency risk of its 
        investments, as they are based in Australia, and exposed 
              to movement against the Australian Dollar as their 
                assets, liabilities, revenue and expenditure are 
        denominated therein. The company is denominated in pound 
                                                       sterling. 
 
                                                     Market risk 
 
         The company is not currently exposed directly to market 

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DJ Veni Vidi Vici Limited: Audited Final Results to -6-

           risk in relation to its investments, as these are not 
            currently listed on any stock market anywhere in the 
                                                          world. 
 
                                                     Fair values 
 
             Cash and cash equivalents (which are presented as a 
        single class of assets on the face of the balance sheet) 
              comprise cash held by the company with an original 
        maturity of three months or less. The carrying amount of 
                     these assets approximates their fair value. 
 
       The directors consider there to be no material difference 
       between the book value of financial instruments and their 
                               values at the balance sheet date. 
 
         Notes to the financial statements (continued) 
 
______________________________________________________________________________ 
         ____________ 
 
15                                    Related party transactions 
 
     During the period, there were no related party transactions 
                                                    to disclose. 
 
                        Remuneration of Key Management Personnel 
      The remuneration of the Directors and other key management 
     personnel of the Company are set out below in aggregate for 
         each of the categories specified in IAS24 Related party 
                                                    Disclosures. 
                                        2019                2018 
                                       GBP'000               GBP'000 
     Short-term employee                  51                  38 
                benefits 
    Share-based payments                   -                  21 
                                          51                  59 
 
16                  Capital Commitments & Contingent Liabilities 
 
      There are no non-cancellable capital commitments as at the 
               balance sheet date. The Company has no contingent 
                          liabilities at the balance sheet date. 
 
17                                              Ultimate control 
 
                The Company has no individual controlling party. 
 
18                      Events after the end of reporting period 
 
       There are no events after the end of the reporting period 
                                                    to disclose. 
 
ISIN:          VGG9404A1030 
Category Code: MSCH 
TIDM:          VVV 
LEI Code:      213800OEUSH43X859D83 
Sequence No.:  63125 
EQS News ID:   1042279 
 
End of Announcement EQS News Service 
 
 

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May 12, 2020 08:20 ET (12:20 GMT)