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 £113k compared to £42k for the 6 months to June 2017.
During the period the company raised an additional £500,000 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
ended
30 June 2018 |
6
months
ended
30 June 2017 |
Year
ended
31 December
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
2018 |
30
June
2017 |
31
December
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 ended
30 June 2018 |
6
months ended
30 June 2017 |
Year
ended
31 December
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 period |
58 |
5 |
6 |
| 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 £113,000 (2017: loss £42,000) 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