Gledhow Investments plc: Audited Results to 30 September 2018 and AGM Notice (766789)
16 Janvier 2019 - 3:56PM
UK Regulatory
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release.
Gledhow Investments plc (GDH)
Gledhow Investments plc: Audited Results to 30 September 2018 and AGM Notice
16-Jan-2019 / 14:55 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.
16 January 2019
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Gledhow Investments plc
***********************
("Gledhow" or the "Company")
****************************
Final Audited Results for the Financial Year ended 30 September 2018 and
Notice of Annual General Meeting
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***************************
I have pleasure in presenting your company's Annual Report and Financial
Statements for the year ended 30 September 2018.
Your directors continue to follow the same investment strategy, namely to
invest in small to medium sized undervalued or fast growing companies, with
the investment objective of achieving long term capital growth in excess of
the FTSE All Share Index.
We had cash of GBP167,335 at the year-end (2017: GBP103,119). The pre-tax profit
was GBP28,702 (2017: pre-tax profit of GBP228,405).
Despite the uncertain economic environment the Company is in a strong position
thanks to its strong cash position and we look forward to being able to take
opportunistic investments in small to medium sized undervalued companies as
they arise.
The directors have not recommended a dividend.
G R Miller
Managing Director
16 January 2019
The directors of the Company accept responsibility for the contents of this
announcement.
For further information please contact:
Guy Miller: +44 (0) 20 7220 9795
Gledhow Investments Plc
Statement of Comprehensive Income for the year ended 30 September 2018
**********************************************************************
2018 2017
GBP GBP
Turnover 770,604 982,034
Cost of sales (642,380) (698,390)
Gross profit 128,224 283,643
Administrative expenses (99,522) (55,239)
Profit before taxation 28,702 228,405
Taxation - -
Profit for the financial year 28,702 228,405
Total comprehensive income for the year 28,702 228,405
Basic profit per share (pence) 0.06p 0.47p
Diluted profit per share (pence) 0.06p 0.47p
The income statement has been prepared on the basis that all operations are
continuing operations.
Statement of Financial Position as at 30 September 2018
*******************************************************
2018 2017
GBP GBP
Current assets
Investments held for resale 652,885 630,530
Debtors 4,080 -
Cash at bank and in hand 167,335 103,119
824,300 733,649
Creditors: amounts falling due within one
year
(31,178) (19,197)
Net current assets and total assets less
current liabilities
793,122 714,452
Capital and reserves
Called up share capital 490,000 490,000
Share premium account 71,122 71,122
Profit and loss account 137,930 109,228
Other reserve 94,070 44,102
Shareholders' funds - equity interests 793,122 714,452
The financial statements were approved by the Board and authorised for issue
on 16 January 2019.
G R Miller
Director
Statement of Changes in Equity for the year ended 30 September 2018
Share Share Profit Other
capital premiu and reserv
m loss e
reserv
e Total
GBP GBP GBP GBP GBP
Balance 490,000 71,122 (119,1 44,102 486,04
at 1 77) 7
October
2016
Year
ended 30
Septembe
r 2017:
Profit - - 228,40 - 228,40
for the 5 5
year
Total
comprehe
nsive
income
for the - - 228,40 - 228,40
year 5 5
Balance 490,000 71,122 109,22 44,102 714,45
at 30 8 2
Septembe
r 2017
Year
ended 30
Septembe
r 2018:
Profit - - 28,702 - 28,702
for the
year
Total
comprehe
nsive
income
for the - - 28,702 - 28,702
year
Credit
to
equity
for
equity - - - 49,968 49,968
settled
share
based
payments
Balance 490,000 71,122 137,93 94,070 793,12
at 30 0 2
Septembe
r 2018
Statement of Cash Flows for the year ended 30 September 2018
2018 2017
GBP GBP
Cash flows from operating activities
Cash used in operations (41,653) (48,876)
Net cash outflow from operating (41,653) (48,876)
activities
Investing activities
Proceeds from disposal of investments 770,604 982,034
Purchase of investments (664,735) (1,088,396)
Net cash generated from/(used in) 105,869 (106,362)
investing activities
Net increase/(decrease) in cash and cash 64,216 (155,238)
equivalents
Cash and cash equivalents at beginning 103,119 258,357
of year
Cash and cash equivalents at end of year 167,335 103,119
Relating to:
Cash at bank and in hand 167,335 103,119
Notice of Annual General Meeting
Notice is hereby given that the Annual General Meeting of Gledhow Investments
plc ("the Company") will be held at 09.00 am on 1 March 2019 at Peterhouse
Capital Limited, New Liverpool House, 15 Eldon Street, London, EC2M 7LD to
consider the following resolutions of which numbers 1 to 5 will be proposed as
ordinary resolutions and numbers 6 and 7 as special resolutions:
1. To receive the annual report and accounts for the year ended 30 September
2018.
2. To re-elect G Melamet as a director of the Company.
3. To re-elect G R Miller as a director of the Company.
4. To re-appoint UHY Hacker Young as auditors of the Company and to authorise
the directors to fix their remuneration.
5. To consider and, if thought fit, pass the following resolution which will
be proposed as an ordinary resolution:
That the directors be generally and unconditionally authorised under section
551 of the Companies Act 2006 (the Act) to allot shares in the Company and to
grant rights to subscribe for or to convert any security into shares in the
Company on and subject to such terms as the directors may determine up to a
total nominal amount of GBP510,000, such authority shall expire at the
conclusion of the next annual general meeting of the Company after the date of
the passing of this resolution unless renewed, varied or revoked by the
Company in general meeting. The directors shall be entitled, under this
authority, to make at any time prior to the expiry of this authority any offer
or agreement which would or might require relevant securities to be allotted
after the expiry of this authority.
To consider and, if thought fit, pass the following resolutions as special
resolutions:
6. That, subject to the passing of resolution 5 in this notice, the directors
be empowered under section 570 of the Companies Act 2006 ("the Act") to allot
equity securities (within the meaning of section 560 of the Act) for cash
under the authority given by resolution 5 in this notice as if sub-section
561(1) of the Act did not apply to such allotment, provided that this power
shall be limited:
(a) to the allotment of equity securities in connection with an offer of such
securities to holders of ordinary shares where the equity securities for which
ordinary shares are respectively entitled to subscribe are proportionate (as
nearly as may be) to the respective numbers of ordinary shares held by them,
but subject to such exclusions or other arrangements as the directors may deem
necessary or expedient in relation to fractional entitlements or any legal or
practical problems under the laws of any overseas territory or the
requirements of any regulatory body or stock exchange; and
(b) to the allotment (otherwise than under sub-paragraph (a) above) of equity
securities for cash up to a total nominal value of GBP510,000;
and shall expire on the date of the next annual general meeting of the
Company, or if earlier, 15 months after the date of passing this resolution,
save that the Company may before such expiry make an offer or agreement which
would or might require equity securities to be allotted after such expiry and
the Board may allot equity securities under such offer or agreement as if the
power conferred by this resolution had not expired.
7. That the Company be generally and unconditionally authorised to make market
purchases within the meaning of section 693(4) of Companies Act 2006 (the Act)
of its ordinary shares of 1p each in the capital of the Company ("shares") on
such terms and in such manner as the directors may from time to time
determine, provided that:
(a) the maximum number of shares authorised to be purchased is 7,350,000 being
the number representing 15% of the issued ordinary share capital of the
Company at the date of the meeting;
(b) the minimum price (exclusive of expenses) which may be paid per share is
1p (being the nominal value per share) and the maximum price which may be paid
per share is an amount equal to 20% higher than the average of the middle
market quotations per share as derived from the NEX Growth Market for the
fifteen business days immediately preceding the day on which the shares are
purchased;
(c) the authority shall expire at the conclusion of the next annual general
meeting of the Company; and
(d) the Company may make a contract to purchase shares under the authority
before the expiry of the authority, and may make a purchase of shares under
such contract even though the authority has ended.
By Order of the Board Registered Office:
Brett Miller New Liverpool House
Secretary 15 Eldon Street
London EC2M 7LD
Dated: 16 January 2019
Notes:
1. Shareholders, their duly appointed representatives or proxies are entitled
to attend, speak and vote at the AGM. A shareholder can appoint the Chairman
of the meeting or anyone else as their proxy and their proxy need not be a
member of the Company. A shareholder may appoint more than one proxy, provided
that each proxy is appointed to exercise the rights attached to different
ordinary shares. To appoint more than one proxy, the proxy form should be
photocopied and completed for each proxy holder. The proxy holder's name
should be written on the proxy form together with the number of shares in
relation to which the proxy is authorised to act. The box on the proxy form
must also be ticked to indicate that the proxy instruction is one of multiple
instructions being given. All proxy forms must be signed and, to be effective,
must be lodged at the registered office of the company not later than 48 hours
before the time of the meeting or any adjourned meeting.
2. The return of a completed proxy form will not prevent a shareholder
attending the AGM and voting in person if they wish to do so.
3. In accordance with Regulation 41 of the Uncertificated Securities
Regulations 2001, only those members entered on the Company's register of
members at close of business on 27 February 2019 or, of the meeting is
adjourned, shareholders entered on the Company's register of members at close
of business on the day two days before the date of any adjournment shall be
entitled to attend and vote at the AGM.
ISIN: GB0008842717
Category Code: MSCU
TIDM: GDH
Sequence No.: 7180
EQS News ID: 766789
End of Announcement EQS News Service
(END) Dow Jones Newswires
January 16, 2019 09:56 ET (14:56 GMT)
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