Published on 20/7/2020 • Category:
CLEAN INVEST AFRICA PLC
("CIA" or the "Company")
UNAUDITED FINANCIAL RESULTS FOR THE PERIOD FROM 1 OCTOBER 2018 TO 31 DECEMBER 2019Clean Invest Africa plc, the Aquis Stock Exchange Growth Market ("Aquis") quoted investment company, together with CoalTech Limited and Coal Agglomeration South Africa (Pty) Ltd (collectively the “Group”) 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 is pleased to present the unaudited combined financial results for the period from 1 October 2018 to 31 December 2019. Earlier today we have also published our latest trading update.
FINANCIALS
The unaudited combined financial results for the period 1 October 2018 to 31 December 2019 show a loss after taxation of GBP967,896.
Filippo Fantechi, Chief Executive Officer of Clean Invest Africa, commented:
“I am pleased to present the unaudited combined financial results of the Group.
I am pleased with the progress made in this initial period, notwithstanding the impacts on the Group’s business of the COVID-19 pandemic, and look forward to continuing to update shareholders on the progress of the Group and the exciting prospects ahead, some of which are developing reasonably fast. We continue to seek new investment opportunities and will advise shareholders as they come to fruition.“
Filippo Fantechi
Chief Executive Officer/Executive Director
20 July 2020
The Directors of the Company accept responsibility for the content of this announcement.
ENQUIRIES:
Company
Clean Invest Africa PLC
Filippo Fantechi - Chief Executive Officer/Executive Director
Telephone: +973 3 9696273
Corporate Adviser
Peterhouse Capital Limited
Guy Miller
Telephone: +44 20 7469 0930CLEAN INVEST AFRICA PLC
COMBINED UNAUDITED INCOME STATEMENT
FOR THE PERIOD 1 OCTOBER 2018 TO 31 DECEMBER 2019
For the period For the period
ended 31 ended 30
December 2019 September 2018
Unaudited Audited
GBP GBP
Revenue - -
Cost of sales - -
Gross profit - -
Administrative expenses (973,885) (204,415)
Operating loss (973,885) (204,415)
Finance income 6 337
Finance costs (10,188) -
Loss before income tax (984,067) (204,078)
Income tax - -
Loss for the financial period (984,067) (204,078)
attributable to the Company's equity
shareholders
Loss per share from operations
Basic and diluted loss per share (0.0021) (0.0015)
(GBP)
CLEAN INVEST AFRICA PLC
COMBINED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD 1 OCTOBER 2018 TO 31 DECEMBER 2019
For the period For the period
ended 31 ended 30
December 2019 September 2018
Unaudited Audited
GBP GBP
Loss for the period (984,067) (204,078)
Gain on translation to presentation 25,071 -
currency
Other comprehensive loss (8,900) -
Total comprehensive loss for the (967,896) (204,078)
period attributable to the Company's
equity shareholders
CLEAN INVEST AFRICA PLC
COMBINED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2019
As at 31 As at 30
December 2019 September 2018
Unaudited Audited
GBP GBP
Assets
Non-current assets
Tangible fixed assets 494,758 -
Right-of-use assets 55,644 -
Debtors: amounts falling due after more than 3,431,989 -
one year
Investments 26,806,099 358,362
Total non-current assets 30,788,490 358,362
Current assets
Trade and other receivables 105,813 5,080
Inventories 8,766 -
Cash and cash equivalents 13,231 68,602
Total current assets 127,810 73,682
Total assets 30,916,300 432,044
Liabilities
Current liabilities
Trade and other payables 1,260,254 22,622
Total current liabilities 1,260,254 22,622
Net current (liabilities)/assets (1,132,444) 51,060
Non-current liabilities
Creditors: amounts falling due after more than 5,027,291 -
one year
Total non-current liabilities 5,027,291 -
Net assets 24,628,755 409,422
Equity
Capital and reserves attributable to equity
shareholders:
Share capital 2,844,413 402,750
Share premium 24,623,938 210,750
Accumulated loss (2,839,596) (204,078)
Total equity 24,628,755 409,422
CLEAN INVEST AFRICA PLC
COMBINED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDING 31 DECEMBER 2019
Share Share Accumulated
capital premium losses Total Equity
GBP GBP GBP GBP
For the period ended - - - -
18 September 2017
Issue of share capital 402,750 236,250 - 639,000
Cost of shares issued - (25,500) - (25,500)
Total comprehensive - - (204,078) (204,078)
loss for the period
For the period ended 402,750 210,750 (204,078) 409,422
30 September 2018
Issue of share capital 2,441,663 24,413,188 - 26,854,851
Pre-acquisition - - (1,667,622) (1,667,622)
accumulated losses
Total comprehensive - - (967,896) (967,896)
loss for the period
For the period ended 2,844,413 24,623,938 (2,839,596) 24,628,755
31 December 2019
CLEAN INVEST AFRICA PLC
COMBINED STATEMENTS OF CASH FLOWS
FOR THE PERIOD 1 OCTOBER 2018 TO 31 DECEMBER 2019
For the period For the period
ended 31 ended 30
December 2019 September 2018
Unaudited Audited
GBP GBP
Operating activities
Loss for the period before income tax (967,896) (204,078)
Add: Depreciation (non-cash) 8,550
-
Increase in right-of-use assets (64,194) -
Increase in debtors: amounts falling due after (3,431,989) -
more than one year
Increase in trade and other (100,733) (5,080)
receivables
Increase in inventories (8,766) -
Increase in trade and other payables 1,237,632 22,622
Increase in creditors: amounts 5,027,291 -
falling due after more than one year
Net cash generated from/ (used in) 1,699,895 (186,536)
operating activities
Investing activities
Purchase of tangible fixed assets (494,758) -
Purchase of investments (5,248) (358,362)
Pre-acquisition accumulated losses, (1,309,260) -
net of investments
Net cash used in investing activities (1,809,266) (358,362)
Financing activities
Proceeds from issue of shares 54,000 639,000
Issue costs - (25,500)
Net cash generated from financing 54,000 613,500
activitiesNet (decrease)/ increase in cash and (55,371) 68,602
cash equivalents
Cash and cash equivalents at 68,602 -
beginning of period
Cash and cash equivalents at end of 13,231 68,602
period
END
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