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DJ Veni Vidi Vici Limited: Interim Results for the six months ended 30 June 2019

 
 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 
****************************************************************************** 
********************* 
 
                                    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 
****************************************************************************** 
 
                                   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 
****************************************************************************** 
****************** 
 
                   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 
****************************************************************************** 
*********** 
 
                                           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 
 
**************************************************** 
 
1. General Information 
 
Basis of preparation and accounting 
 
 The financial information has been prepared on the historical cost basis. The 

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DJ Veni Vidi Vici Limited: Interim Results for the -2-

 Company's business activities, together with the factors likely to affect its 
    future development, performance and position are set out in the Chairman's 
  Statement. This statement also includes a summary of the Company's financial 
         position and its cash flows. 
 
 These condensed interim financial statements have been prepared in accordance 
     with International Financial Reporting Standards (IFRS) as adopted by the 
European Union with the exception of International Accounting Standard ('IAS') 
34 - Interim Financial Reporting. Accordingly the interim financial statements 
   do not include all of the information or disclosures required in the annual 
financial statements and should be read in conjunction with the Company's 2018 
         annual financial statements. 
 
2. Earnings per share 
 
      The calculation of the basic earnings per share is based on the earnings 
  attributable to ordinary shareholders divided by the weighted average number 
   of shares in issue during the year. The calculation of diluted earnings per 
     share is based on the basic earnings per share, adjusted to allow for the 
  issue of shares and the post-tax effect of dividends and/or interest, on the 
       assumed conversion of all dilutive options and other dilutive potential 
         ordinary shares. 
 
Reconciliations of the earnings and weighted average number of shares used are 
         set out below. 
 
                                  Six months to     Period ended 
                                   30 June 2019 31 December 2018 
                                    (Unaudited)        (Audited) 
                                        (GBP'000)          (GBP'000) 
Net loss attributable to equity            (56)            (103) 
holders of the company 
 
Number of shares Weighted             1,720,003          933,691 
average number of ordinary 
Shares for the purposes of basic 
loss per share 
 
Basic and diluted loss per share         (3.29)          (10.96) 
(pence) 
 
3. Events after the reporting date 
 
On 19 August 2019, Mr Lucas stepped down as a non-executive director of the 
Company. 
 
ISIN:          VGG9404A1030 
Category Code: MSCH 
TIDM:          VVV 
LEI Code:      213800OEUSH43X859D83 
Sequence No.:  23468 
EQS News ID:   890551 
 
End of Announcement EQS News Service 
 
 

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October 15, 2019 11:10 ET (15:10 GMT)