Final Audited Results to 30 September 2018

Published on 4/3/2019 • Category:

Clean Invest Africa plc 
                           ("CIA" or the "Company") 
                  Final Audited Results to 30 September 2018 
4 March 2019 
Clean Invest Africa plc, the NEX Exchange Growth Market ("NEX") quoted 
investment company, focused on delivering an attractive return through 
acquiring stakes in clean energy companies, remediation/restoration 
technologies, waste-to-energy technologies and other clean energy related 
projects throughout Africa is pleased to announce that it has today filed at 
Companies House its Annual Report and Financial Statements for the period ended 
30 September 2018. A copy will be available shortly on the Company website at 
The financial results for the period since incorporation on 18 September 2017 
to 30 September 2018 show a loss after taxation of GBP204,078. 
The directors do not recommend a payment of a dividend for the year to 30 
September 2018. 
Since admission to NEX in November 2017 the Company has furthered its 
investment strategy through its initial US$500,000 investment in February 2018 
whereby it acquired a 2.5% equity stake in CoalTech Limited ("CoalTech") and 
Coal Agglomeration South Africa (Pty) Ltd ("CASA"). 
During the year the Board was strengthened with the appointment of Paul Ryan as 
a non-Executive Director. 
As announced to the market on 17 December 2018, the Company has further 
advanced its investment strategy through the execution of a binding Sales and 
Purchase Agreement ("SPA") to acquire the remaining 97.5% of CoalTech and the 
remaining 97.5% of CASA, that the Company does not already own. 
The SPA values the 97.5% interests at approximately GBP24.6m and values the 
entire CoalTech and CASA business at approximately GBP25.2m, based on the 
Company's closing bid price on 14 December 2018. 
In view of the size of the acquisition relative to the Company and voting 
control of the Company, NEX determined that the acquisition constitutes a 
reverse takeover under the NEX Exchange Rules and is therefore conditional, 
amongst other things, on the approval of Shareholders. Relevant and necessary 
documentation is being finalised, and subject to regulatory approval, 
concluding this process in the near term is a priority for the Company. 
Noel Lyons Director of CIA commented "Our first year since listing has proved 
to be very fruitful and successful. I am delighted that we have also 
strengthened the Board with the addition of Paul Ryan in October 2018. My 
fellow directors and I believe that the very substantial investment in CoalTech 
and CASA will prove transformational and potentially highly value accretive for 
the Company and directly follows through on our investment strategy. We intend 
to continue to seek complimentary and accretive investments in accordance with 
our Investment Strategy once this extremely significant acquisition has been 
completed and the Company's shares are re-admitted to trading. The Board 
expresses its thanks to shareholders for their continued support in what is a 
very exciting time for the Company." 
The directors of the Company accept responsibility for the contents of this 
Clean Invest Africa plc 
Noel Lyons, Director 
Peterhouse Capital Limited 
Tel: 0207 469 0930 
Guy Miller/Mark Anwyl 
Income Statement 
for the period ended 30 September 2018 
Continuing operations 
Revenue                                                                              - 
Administrative expenses                                                      (204,415) 
Operating loss                                                               (204,415) 
Finance income                                                                     337 
Loss before income tax                                                       (204,078) 
Income tax                                                                           - 
Loss for the period                                                          (204,078) 
Earnings per share expressed 
in pence per share: 
Basic and diluted                                                               (0.15) 
The Company was incorporated on 18 September 2017; therefore, no comparative 
figures are presented 
Statement of Other Comprehensive Income 
for the period ended 30 September 2018 
Loss for the period                                                   (204,078) 
Other comprehensive income                                                    - 
Total comprehensive income for the period                             (204,078) 
Statement of Financial Position 
As at 30 September 2018 
Non-current assets 
Investments                                                                 358,362 
Current assets 
Trade and other receivables                                                   5,080 
Cash and cash equivalents                                                    68,602 
Total current assets                                                         73,682 
Total assets                                                                432,044 
Current liabilities 
Trade and other payables                                                     22,622 
Total current liabilities                                                    22,622 
Net current assets                                                           51,060 
NET ASSETS                                                                  409,422 
Equity attributable to the owners of the Company 
Share capital                                                               402,750 
Share premium                                                               210,750 
Retained earnings                                                         (204,078) 
TOTAL EQUITY                                                                409,422 
The Company was incorporated on 18 September 2017; therefore, no comparative 
figures are presented. 
The financial statements were approved by the Board of Directors on 1 March 
2019 and were 
signed on its behalf by: 
S T Preece 
Statement of Changes in Equity 
for the period ended 30 September 2018 
                                     Share         Share       Retained          Total 
                                   Capital       Premium       Earnings         Equity 
                                       GBP           GBP            GBP            GBP 
Balance at 18 September 2017             -             -              -              - 
Issue of share capital             402,750       236,250              -        639,000 
Cost of shares issued                    -      (25,500)              -       (25,500) 
Total comprehensive income               -             -      (204,078)      (204,078) 
Balance at 30 September 2018       402,750       210,750      (204,078)        409,422 
Statement of Cash Flows 
for the period ended 30 September 2018 
Operating activities 
Loss before income tax                                                      (204,078) 
Increase in trade and other receivables                                       (5,080) 
Increase in trade and other payables                                           22,622 
Net cash used in operating activities                                       (186,536) 
Investing activities 
Purchase of investments                                                     (358,362) 
Net cash used in investing activities                                       (358,362) 
Financing activities 
Proceeds from issue of shares                                                 639,000 
Issue costs                                                                  (25,500) 
Net cash from financing activities                                            613,500 
Increase in cash and cash equivalents                                          68,602 
Cash and cash equivalents at beginning of                                           - 
Cash and cash equivalents at end of period                                     68,602 
The Company was incorporated on 18 September 2017; therefore, no comparative 
figures are presented. 
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