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DJ Globe Capital Limited Interim Results for six months period to 30 June 2018

 
TIDMGCAP 
 
28 September 2018 
 
                             Globe Capital Limited 
                      ("Globe Capital" or the "Company") 
 
           Interim Results for the six months period to 30 June 2018 
 
Chairman's Statement 
 
Globe Capital Limited is pleased to announce its unaudited interim results for 
the 6 months period to 30 June 2018. Operational costs for the period amounted 
to GBP113k compared to GBP42k for the 6 months to June 2017. 
 
During the period the company raised an additional GBP500,000 in equity, before 
costs to enable the commencement of the process of setting up of a new office 
in Business Bay, Dubai. Together with incorporating a new subsidiary; Vogel 
Marketing Services FZE in Ajman, United Arab Emirates. The company is 
continuing with the promotion of companies from the UK and EU within the gulf 
region. 
 
The company continues to seek medium to long term investments in businesses 
that exhibit growth potential. The Company continues to intend to be an active 
investor in situations where the Company can make a clear contribution to the 
growth and development of the investment. 
 
28th September 2018 
 
David Barnett 
Chairman 
 
Globe Capital Limited 
Statement of Comprehensive Income 
Six months ended 30 June 2018 
 
                                               6 months    6 months  Year ended 
                                                  ended       ended 31 December 
                                                30 June     30 June        2017 
                                                   2018        2017 
 
                                               GBP '000    GBP '000    GBP '000 
 
Revenue                                               -           -           - 
 
Other Income                                          -           -           - 
 
Gross Profit                                          -           -           - 
 
Administrative Expenses                           (113)        (42)        (89) 
 
Profit / (Loss) from Operations                   (113)        (42)        (89) 
 
Finance Costs                                         -           -           - 
 
Profit / (Loss) Before Taxation                   (113)        (42)        (89) 
 
Taxation                                              -           -           - 
 
Other Comprehensive Loss                              -           -           - 
 
Profit / (Loss) for the period                    (113)        (42)        (89) 
 
Earning / (Loss) per share 
 
Basic & Diluted (pence)                         (0.05)p     (0.02)p     (0.05)p 
 
 
Globe Capital Limited 
Balance Sheet as at 30 June 2018 
 
                                                      30 June     30 June 31 December 
                                                         2018        2017        2017 
 
                                                     GBP '000    GBP '000    GBP '000 
 
Non-current assets 
 
Property, plant and equipment                              21           -           - 
 
Investments                                                14          14          14 
 
Current assets 
 
Prepayments                                                57           3           7 
 
Cash and cash equivalents                                 169           6          58 
 
Other debtors and receivables                             126           -           - 
 
Total Assets                                              387          23          79 
 
Current Liabilities 
 
Trade and other payables                                  138          18         175 
 
Accruals                                                   44          23           - 
 
Financial Liabilities - Borrowings                          -           -           - 
 
Creditors: falling due after more than one year 
 
Amounts due to directors                                   11          23          32 
 
Amounts due to a shareholder                                -          54          14 
 
Total Liabilities                                         193         118         221 
 
Net Assets                                                194        (95)       (142) 
 
Shareholders' Equity 
 
Share Capital                                             645         639         639 
 
Reserves                                                (451)       (734)       (781) 
 
Total Equity                                              194        (95)       (142) 
 
Globe Capital Limited 
Statement of Cash Flows 
Period ended 30 June 2018 
 
                                                      6 months    6 months  Year ended 
                                                         ended       ended 31 December 
                                                       30 June     30 June        2017 
                                                          2018        2017 
 
                                                      GBP '000    GBP '000    GBP '000 
 
Profit/(Loss) before tax                                 (113)        (42)        (89) 
 
Adjustment: 
 
Other income                                                 -           -           - 
 
Depreciation                                                 -           -           - 
 
Operating profit/(loss)                                  (113)        (42)        (89) 
 
Cash flows from operating activities 
 
(Increase)/decrease in trade and other receivables       (177)           4           - 
 
Increase/(decrease) in trade and other payables              7           5       (143) 
 
Amounts due to Directors                                  (21)          15          19 
 
Share based payments                                                     -           - 
 
Cash utilised in operations                              (304)        (18)        (73) 
 
Cash flows from investing activities 
 
Bank interest received                                       -           -           - 
 
Purchase of tangible assets                               (21)           -           - 
 
Net cash from investing activities                                       -           - 
 
Cash flows from financing activities 
 
Issue of new shares                                        450           -           - 
 
Amounts due to a shareholder                              (14)          19          21 
 
Net cash from financing activities                                      19          21 
 
(Decrease)/increase in cash and cash equivalents           111           1          52 
 
Cash and cash equivalents at the beginning of the           58           5           6 
period 
 
Cash and cash equivalents at end of period                 169           6          58 
 
Cash at Bank C/F                                           169           6          58 
 
The financial information set out above has not been reviewed or audited by the 
company's auditors. 
 
Basic and diluted profit per share is calculated by dividing the loss for the 
period of GBP113,000 (2017: loss GBP42,000) by the weighted average number of 
ordinary shares of 222,586,419 (2017: 189,253,085). 
 
The directors of Globe Capital Limited accept responsibility for this 
announcement. 
 
For further information 
 
Globe Capital Limited 
David Barnett 
Chairman 
+1-855-280-6793 
 
CORPORATE ADVISER AND CONTACT DETAILS: 
 
Brian Stockbridge 
First Sentinel Corporate Finance 
Suite 12A 
55 Park Lane 
Mayfair, London 
W1K 1NA 
Tel +44 (0) 207 183 7405 
E-mail: Brian@first-sentinel.com 
 
 
 
END 
 

(END) Dow Jones Newswires

October 01, 2018 02:00 ET (06:00 GMT)