REG - 1Spatial Plc - Final results for the year ended 31 January 2017 <Origin Href="QuoteRef">SPA.L</Origin> - Part 3
23/05/2017 07:07
- Part 3: For the preceding part double click ID:nRSW9299Fb
2,310 734 614 - 1,348
Reclassified as held for sale (254) (215) - (469) - - - -
Disposal (339) - - (339) - - - -
Impairment - (1,562) (3,515) (5,077) - - - -
Foreign exchange - - 397 397 - - (106) (106)
Closing NBA 480 4,493 4 4,977 1,073 3,960 3,122 8,155
The impairment in 1Spatial includes £399,000 which relates to goodwill on the
Enables IT acquisition in July 2015 that was originally attributable to
synergies with 1Spatial. The Group's subsequently changed its strategy making
this synergy no longer achievable.
Basis for calculation of recoverable amount
The Group has prepared, and formally approved, a five-year plan for each CGU.
The detailed plan put together by the management team and the Board makes
judgements and assessments on revenue and gross profit expectations. This is
from both contracted and pipeline revenue streams. It also takes account of
historic success of winning new work and has been prepared in accordance with
IAS 36, 'Impairment of Assets'.
The key assumptions used in the value in use calculations were the pre-tax
discount rates applied (18%) for all CGUs and the growth assumptions for each
CGU. 1Spatial (excluding France and Belgium) has forecast growth in sales and
corresponding costs for the year ending 31 January 2018 (12% and 2%
respectively). Growth is forecast at 10% for the following three years and 5%
thereafter. 1Spatial France and Belgium has forecast an increase in sales of
22% for the year ending 31 January 2018 and a decrease in overheads of 3% for
the year ending 31 January 2018. Growth is forecast at 30% for the next two
years and 10% thereafter. Enables IT has forecast growth in sales and
corresponding costs for the year ending 31 January 2018 (2% and 2%
respectively). Growth is forecast at 10% for the following three years and 5%
thereafter. Subsequent to its acquisition, 1Spatial Inc. has been included
with 1Spatial as a CGU. An impairment review has been performed and
impairment identified in 1Spatial as well as in 1Spatial France and Belgium.
In 1Spatial France and Belgium, all remaining intangible assets would be
impaired if the growth rates were decreased to those of the other two CGUs.
The rates used in the above assumptions are consistent with management's
knowledge of the industry and strategic plans going forward. The assumptions
noted above have been given in terms of revenue and overhead percentage
growth. For 2018 and subsequent years, the assumption has been provided in
terms of growth on the prior year EBIT margin. The terminal growth rate of 2%
does not exceed the long-term growth rate for the business in which the CGUs
operate. Discount rates used are pre-tax and reflect specific risks relating
to the relevant segments. The forecasts are most sensitive to changes in
revenue and overhead assumptions (taken together as the EBIT margin). There
would have to be a reduction in forecast EBIT margin by 56% in the year ending
31 January 2018 for the headroom to be removed on Enables IT.
6. Interests in associates
Investments in associates are stated at cost less provision for any
impairment.
Associates are accounted for using the equity method in this preliminary
information as set out in the Group's accounting policies.
2017£'000 2016£'000
Carrying value recognised in the statement of financial position at 31 January - 1,577
Share of net loss recognised in the statement of comprehensive income: 266 421
Details of the associate at 31 January 2017 are as follows:
Name Principal activity Place of incorporation (or registration) and operation Proportion of ownership interest Proportion of voting power held
31 January 2017 31 January 2016 31 January 2017 31 January 2016
Sitemap Ltd(Note 1) Location-based software United Kingdom 49% 49% 49% 49%
1Spatial Inc.(previously LSI)(Note 2) Location-based software United States 73% 47% 73% 47%
Note 1: Sitemap Ltd was acquired on 30 January 2015, and brings a new,
although complementary, opportunity to the Group in its potential to generate
revenue from data services. The Group's share of the assets including
goodwill of the associate is £nil (2016: £227,000).
Note 2: 1Spatial Inc. - the sole US-based distributor of 1Spatial geospatial
products and solutions across the Americas - was acquired on 3 February 2015
by 1Spatial Holdings Limited (a wholly-owned subsidiary of 1Spatial plc) to
provide 1Spatial with long-term security of its Americas distribution channel,
and ensure continuity of service to key customers. 47 per cent was acquired
for cash consideration of US$2.25m (£1.5m).
On 29 February 2016, the Group exercised its call option to acquire a further
26 per cent of 1Spatial Inc. for US$1.3m (£0.9m), paid in cash, taking the
Group's total holding in 1Spatial Inc. to 73 per cent. The remaining 27 per
cent call option was exercised on 11 April 2017 for consideration of US$0.9m,
satisfied by the issue of new ordinary shares in 1Spatial.
The Group's share of the assets including goodwill of the associate is £nil
(2016: £1,350,000).
Summarised financial information for associates
The financial information reflects the amounts presented in the financial
statements of the associates (and not the Group's share of those amounts).
Summarised statement of financial position
Sitemap Ltd 1Spatial Inc. (previously Laser Scan Inc.)
As at As at
31 January 2017 31 January 2016 31 January 2017 31 January 2016
£'000 £'000 £'000 £'000
Note 3
Current assets 54 131 461 567
Non-current assets 1,055 613 286 965
Current liabilities (1,395) (636) (187) (650)
Net assets (286) 108 560 882
Summarised statement of comprehensive income
Sitemap Ltd 1Spatial Inc. (previously Laser Scan Inc.)
For the year ended For the year ended
31 January 2017 31 January 2016 31 January 2017 31 January 2016
£'000 £'000 £'000 £'000
Note 3
Revenue - - 174 2,124
Gross profit (120) (104) 73 1,267
Administrative expenses (274) (216) (395) (1,582)
Adjusted EBITDA (124) (129) (292) (89)
Less: depreciation (4) (1) (1) (6)
Less: amortisation and impairment of intangible assets (111) (111) - (53)
Less: strategic, integration and other one-off items (155) (79) (29) (167)
Operating loss (394) (320) (322) (315)
Net finance cost - - - -
Pre-tax loss from continuing operations (394) (320) (322) (315)
Taxation - - - -
Post-tax loss from continuing operations (394) (320) (322) (315)
There are no items in other comprehensive income or expense.
Note 3: The investment in 1Spatial Inc. was made on 3 February 2015. It
became a subsidiary in February 2016 when the Group exercised its option to
purchase a further 26% of the share capital of 1Spatial Inc. (see note 14).
The summarised statement of financial position relating to 1Spatial Inc. above
is as at the date before it ceased to be an associate, and the summarised
statement of comprehensive income relating to 1Spatial Inc. above is for the
period that it was an associate.
Reconciliation of the summarised financial information presented to the
carrying value of the interest in associates:
Sitemap Ltd 1Spatial Inc. (previously Laser Scan Inc.) Total
For the year ended For the year ended For the year ended
31 January 2017 31 January 2016 31 January 2017 31 January 2016 31 January 2017 31 January 2016
£'000 £'000 £'000 £'000 £'000 £'000
Note 3
Opening net assets 108 428 882 - 990 428
Net assets at time of investment - - - 1,197 - 1,197
Loss for the period (394) (320) (322) (315) (716) (635)
Closing net assets (286) 108 560 882 274 990
Interests in associates (49%, 47%) (140) 53 263 415 123 468
Transfer on acquisition of control - - (1,198) - (1,198) -
Amounts charged by group companies, capitalised in non-current assets (34) (116) - - (34) (116)
Goodwill 174 290 935 935 1,109 1,225
Carrying value - 227 - 1,350 - 1,577
7. Trade and other receivables
Current 2017£'000 2016£'000
Trade receivables 5,552 6,069
Less: provision for impairment of trade receivables (626) (45)
4,926 6,024
Other taxes and social security 144 119
Other receivables 1,278 1,645
Prepayments and accrued income 2,581 3,027
8,929 10,815
The fair value of the Group's trade receivables and other receivables is the
same as its book value stated above. No interest is charged on overdue
receivables.
At 31 January 2017, trade receivables of £3,808,000 (2016: £4,008,000) were
fully performing. The Group has provided fully for all receivables which are
not considered recoverable. Before accepting any new customer, the Group
assesses the potential customer's credit quality and defines credit limits by
customer.
At 31 January 2017, trade receivables of £1,118,000 (2016: £2,016,000) were
past due but not impaired. The ageing analysis of these customers is set out
below. There has been no change in the credit quality of these balances; they
relate to customers where there is no history of default and are still
considered fully recoverable.
2017£'000 2016£'000
Up to 3 months overdue 1,025 1,684
3 to 6 months overdue 12 251
6 to 12 months overdue 81 43
> 12 months overdue - 38
1,118 2,016
As of 31 January 2017, trade receivables of £626,000 were impaired (2016:
£45,000) and provided for.
The ageing of these receivables is as follows:
2017£'000 2016£'000
Up to 3 months overdue 114 24
3 to 6 months overdue 33 -
6 to 12 months overdue 352 11
> 12 months 127 10
626 45
Movements on the Group provision for impairment of trade receivables are as
follows:
2017£'000 2016£'000
At 1 February 45 16
Creation of provision 581 29
At 31 January 626 45
The creation of the provision for impaired receivables have been included in
administrative expenses in the statement of comprehensive income.
The other classes within trade and other receivables do not contain impaired
assets and the Group expects to recover these in full. There are no financial
assets whose terms have been renegotiated that would otherwise be past due or
impaired.
The maximum exposure to credit risk at the reporting date is the carrying
value of each class of receivable noted above. The Group does not hold any
collateral as security.
8. Cash and cash equivalents
2017£'000 2016£'000
Cash at bank and in hand 1,285 4,941
Financial assets - restricted access account - 55
1,285 4,996
The fair value of the Group's cash and cash equivalents is the same as its
book value stated above.
9. Assets classified as held for sale and discontinued operations
Asset classified as held for sale
The assets and liabilities related to Enables IT, Inc. have been presented as
held for sale following the decision by the Board to seek buyers for the
business during the year. The Board approved the disposal with the completion
date for the transaction being after the year-end, on 3 March 2017. In
accordance with IFRS 5, the assets and liabilities held for sale were written
down to their fair value less costs to sell of £100,000 (at present value).
This is a non-recurring fair value which has been measured using observable
inputs, being the prices for recent sales of similar businesses, and is
therefore within level 2 of the fair value hierarchy.
(a) Assets of disposal group classified as held for sale
2017£'000
Property, plant and equipment 621
Goodwill 469
Intangible assets 458
Impairment to fair value less costs to sell (1,172)
Other current assets (including £51,000 cash and cash equivalents) 171
Total 547
(b) Liabilities of disposal group classified as held for sale
2017£'000
Trade and other payables 114
Other current liabilities 193
Other long-term liabilities 136
Provisions 4
Total 447
Discontinued operations
Enables IT, Inc.
Enables IT, Inc. was sold after the year-end, on 3 March 2017 to the
management of the company.
2017£'000 2016£'000
Revenue 1,738 881
Expenses (1,813) (827)
(Loss)/profit before tax of discontinued operations (75) 54
Tax 8 4
(Loss)/profit after tax of discontinued operations (67) 58
Pre-tax loss recognised on re-measurement of asset of disposal group (1,172) -
Tax - -
After tax loss recognised on the re-measurement of assets of disposal group (1,172) -
Loss for the year from discontinued operations (1,239) 58
In addition to Enables IT, Inc. which has been classified as discontinued, the
Group disposed of Avisen UK Limited and closed down Storage Fusion Limited
during the year, with the results of these companies also being classified as
discontinued.
Avisen UK Limited
Avisen UK Limited was sold on 2 December 2016.
2017£'000 2016£'000
Revenue 727 1,373
Expenses (1,080) (885)
(Loss)/profit before tax of discontinued operations (353) 488
Tax - 100
(Loss)/profit after tax of discontinued operations (353) 588
Pre-tax loss recognised on re-measurement of asset of disposal group (816) -
Tax - -
After tax loss recognised on the re-measurement of assets of disposal group (816) -
(Loss)/profit for the year from discontinued operations (1,169) 588
Storage Fusion Limited
Storage Fusion Limited was closed down in December 2016.
2017£'000 2016£'000
Revenue 69 222
Expenses (1,203) (435)
Loss before tax of discontinued operations (1,134) (213)
Tax 157 197
Loss after tax of discontinued operations (977) (16)
Pre-tax gain/(loss) recognised on re-measurement of asset of disposal group (157) -
Tax - -
After tax gain/(loss) recognised on the re-measurement of assets of disposal group (157) -
Loss for the year from discontinued operations (1,134) (16)
10. Trade and other payables
Current
2017£'000 2016£'000
Trade payables 1,824 2,380
Other taxation and social security 2,350 1,848
Other payables 566 588
Accrued liabilities 1,254 1,448
Deferred income 6,078 4,422
12,072 10,686
The Directors consider that the book value of trade payables, taxation, other
payables, accrued liabilities and deferred income approximates to their fair
value at the reporting date.
11. Provisions
*RestatedProvision for long-term contracts£'000 Restructuring provision£'000 Termination provision£'000 Total£'000
At 1 February 2016 367 18 - 385
Additional provision in the year 28 - 123 151
Amounts released during the year (287) (19) - (306)
Transferred to liabilities of discontinued operations held for sale (3) - - (3)
Exchange difference 14 1 - 15
At 31 January 2017 119 - 123 242
Current 119 - 123 242
Non-current - - - -
* During the course of the integration of the Enables IT group, additional
loss-making contract provisions were identified as being required on
acquisition. As these were identified within 12 months of the acquisition,
they have been reflected as fair value adjustments at acquisition in
accordance with IFRS 3, 'Business combinations'. The adjustment has been to
increase goodwill and provisions by £41,000.
Provision for long-term contracts
The Group provides for obligations arising under loss-making contracts on
identification of the contract being loss-making.
Restructuring provision
The restructuring provision represented the cost of employee terminations in
1Spatial Belgium that were announced in January 2015.
Termination provision
The termination provision represents the cost of employee terminations in the
year, and has been classified as a provision as there is uncertainty over the
timing and amount of settlement of the future obligation.
12. Deferred tax
The following are the major deferred tax liabilities and assets recognised by
the Group and movements thereon during the current year and prior reporting
years.
Property, plant and equipment£'000 Tax losses£'000 Accelerated tax depreciation£'000 Intangibles£'000 Other temporary differences£'000 Total£'000
At 1 February 2015 309 (175) 6 1,596 (39) 1,697
Deferred tax (credit)/charge for year in profit or loss (309) (684) 23 492 (157) (635)
Deferred tax charge for year in other comprehensive income - - - - 29 29
Deferred tax charge/(credit) arising on the acquisition of Enables IT 46 (265) - 248 - 29
Retranslation foreign exchange movement - - - 2 - 2
At 1 February 2016 46 (1,124) 29 2,338 (167) 1,122
Acquired in the year (under business combination) - - - 100 - 100
Deferred tax charge/(credit) for year in profit or loss (11) 532 (20) (1,667) 167 (999)
Deferred tax charge/(credit) for year in other comprehensive income - - - 48 - 48
Disposals in the year - 221 5 (76) - 150
At 31 January 2017 35 (371) 14 743 - 421
Deferred income tax assets are recognised against tax loss carry-forwards to
the extent that the realisation of the related tax benefit through future
taxable benefits is probable. The Group did not recognise deferred tax assets
of £3,893,000 (2016: £2,671,000) in respect to losses amounting to £14,214,000
(2016: £11,715,000) that can be carried forward against future taxable income,
on the grounds that their utilisation is not probable.
The deferred tax balance is analysed as follows:
Deferred taxasset£'000 Deferred tax liability£'000 Total£'000
Recoverable within 12 months 110 - 110
Recoverable after 12 months 261 - 261
Settled within 12 months - (234) (234)
Settled after 12 months - (558) (558)
371 (792) (421)
13. Share capital, share premium account and own shares held
Allotted and fully paid 2017Number 2016Number
Ordinary shares of 1p each 738,135,558 715,499,308
Deferred shares of 4p each 226,699,878 226,699,878
Rights of shares Ordinary sharesThe ordinary shares all rank pari passu, have the right to participate
in dividends and other distributions made by the Company, and to receive notice of, attend and vote at
every general meeting of the Company. On liquidation, ordinary shareholders are entitled to
participate in the assets available for distribution pro rata to the amount credited as paid up on
such shares (excluding any premium). Deferred shares The deferred shares do not carry voting rights or
a right to receive a dividend. The holders of deferred shares will not have the right to receive
notice of any general meeting of the Company, nor have any right to attend, speak or vote at any such
meeting. The deferred shares will also be incapable of transfer (other than to the Company). In
addition, holders of deferred shares will only be entitled to a payment on a return of capital or on a
winding up of the Company after each of the holders of ordinary shares has received a payment of
£1,000,000 in respect of each ordinary share. Accordingly, the deferred shares will have no economic
value. No application will be made for the deferred shares to be admitted to trading on AIM nor to
trading on any other stock or investment exchange.
Number of shares Allotted, called up and fully paid shares£'000 Sharepremiumaccount£'000 Own shares held£'000
At 1 February 2015 877,115,232 15,572 20,608 (306)
Issue of shares 65,083,954 651 1,692 -
Share issue costs - - (36) -
At 1 February 2016 942,199,186 16,223 22,264 (306)
Exercise of share options - - 11 3
Issue of shares 22,636,250 226 679 -
Share issue costs - - (23) -
At 31 January 2017 964,835,436 16,449 22,931 (303)
On 19 April 2016, 303,644 ordinary shares were transferred out of treasury
shares to satisfy an exercise of employee options, leaving a balance of
3,196,356 ordinary shares in treasury.
On 29 June 2016, 1Spatial plc issued 22,636,250 new ordinary shares in the
capital of the Company at a price of 4p per share, principally to satisfy the
consideration due to the shareholders of Laser Scan Inc. (now 1Spatial Inc.)
following the exercise on 29 February 2016 of the call option held by the
Company. Total gross proceeds of £0.9m were raised resulting in £0.2m
additional share capital and £0.7m additional share premium. Share issue
costs were £23,000.
Own shares
As a result of the disposal of Avisen (Pty) SA Limited on 14 July 2010,
3,500,000 shares with a nominal value of 5p each were purchased and held in
treasury. The consideration paid was £306,000. On 28 November 2011, the
Company sub-divided its existing share capital of 5p shares into 1p ordinary
shares and 4p deferred shares.
14. Business combinations
2017
On 3 February 2015 the Group entered into a share purchase agreement to
acquire 47% of US distributor 1Spatial Inc. (previously Laser Scan Inc.), the
US-based provider of spatial data solutions for cash consideration of US$2.25m
(£1.5m).
On 29 February 2016, the Group exercised its call option to acquire a further
26% shareholding in 1Spatial Inc. for US$1.3m (£0.9m), payable in cash, taking
the Group's total holding in 1Spatial Inc. to 73%. 1Spatial Inc. is the sole
distributor of 1Spatial geospatial products and solutions across the Americas,
which includes significant contracts with the US Census Bureau. The
acquisition strengthens 1Spatial's position within the US market, which is a
significant opportunity for the Group and will be a key area of focus for the
next financial year.
As part of the agreement signed on 3 February 2015, the Group has the right to
acquire the remaining 27% of 1Spatial Inc. from 1 February 2017. On 11 April
2017 the Group acquired the remaining 27% of 1Spatial Inc. for £739,000 (US$
918,000) payable in shares in accordance with the terms set out in the
original share purchase agreement.
The following table summarises the consideration paid for 1Spatial Inc.,
non-controlling interests and the fair value of assets acquired and
liabilities assumed at the acquisition date:
£'000
Value of consideration 2,719
Total purchase consideration 2,719
Fair values of assets and liabilities at the date of acquisition: £'000
Intangible assets 250
Property, plant and equipment 36
Cash and cash equivalents 98
Trade and other receivables 363
Trade and other payables (87)
Deferred tax liabilities (100)
Total identifiable net assets 560
- Attributable to non-controlling interests 151
- Attributable to equity shareholders of the parent 409
Goodwill 2,310
Total consideration 2,719
Satisfied by:
- Cash 2,448
- Share of associate losses (187)
- Balances due to the group waived on acquisition 458
Total consideration transferred 2,719
Goodwill represents approximately £350,000 in relation to the assembled
workforce and £1,960,000 in relation to synergies with the 1Spatial business.
The fair value of trade and other receivables is £363,000 and includes trade
receivables of £254,000 which is expected to be fully collectable.
Costs relating to the acquisition of £31,000 have been excluded from the
consideration stated above and have been recognised as a charge to the
statement of comprehensive income within administrative expenses.
The acquired business contributed revenues of £2,368,000 and a net profit of
£446,000 to the Group for the period since acquisition to 31 January 2017. If
the acquisition had occurred on 1 February 2016, consolidated revenue and
consolidated loss for the year ended 31 January 2017 would have been
£22,239,000 and £14,674,000 respectively.
2016
On 23 July 2015, 1Spatial plc acquired control over Enables IT Group plc (now
Enables IT Group Limited) by acquiring 100% of its issued share capital for
£1,813,000. Enables IT Group is a leading provider of cloud computing,
managed and professional services and was acquired in order to broaden and
enhance the enlarged group's managed services and cloud services offering.
The goodwill of £1,307,000 arising on the acquisition is attributable to the
expected synergies and acquired workforce.
The following table summarises the consideration paid for the Enables IT Group
and the final fair value of assets acquired and liabilities assumed at the
acquisition date:
£'000
Value of consideration - issue of equity instruments 1,813
Total purchase consideration 1,813
Final fair values of assets and liabilities at the date of acquisition: £'000
Intangible assets:
- Customer lists 1,307
Property, plant and equipment 704
Cash and cash equivalents 465
Inventories 34
Trade and other receivables 753
Trade and other payables (2,247)
Deferred tax liabilities (34)
Provisions * (517)
Total identifiable net assets 465
Goodwill * 1,348
Total consideration 1,813
Satisfied by:
- Equity instruments (30,831,262 ordinary shares of 1Spatial plc) 1,813
Total consideration transferred 1,813
Net cash inflow arising on acquisition
- Cash consideration -
- Less: cash and cash equivalents acquired 465
465
Costs relating to the acquisition of £253,000 have been excluded from the
consideration stated above and have been recognised as a charge to the
statement of comprehensive income within administrative expenses.
The fair value of trade and other receivables is £753,000 and includes trade
receivables of £599,000 which is expected to be fully collectable.
The acquired business contributed revenues of £3,186,000 and a net profit of
£27,000 to the Group for the period since acquisition to 31 January 2016. If
the acquisition had occurred on 1 February 2015, consolidated revenue and
consolidated loss for the year ended 31 January 2016 would have been
£23,554,000 and £147,000 respectively.
* During the course of the integration of the Enables IT group, additional
loss-making contract provisions were identified as being required on
acquisition. As these were identified within 12 months of the acquisition,
they have been reflected as fair value adjustments at acquisition in
accordance with IFRS 3, 'Business combinations'. The adjustment has been to
increase goodwill and provisions by £41,000.
Post year end
On 11 April 2017 the Company acquired the 51% of Sitemap Ltd that it did not
already own for £200,000 in shares. The Company's investment in Sitemap to
date has funded the development of a solution which locates and visualises
sites which best fit commercial and residential property developer needs.
£'000
Value of consideration - issue of equity instruments 200
Total purchase consideration 200
Provisional fair values of assets and liabilities at the date of acquisition: £'000
Intangible assets:
- Developed software 200
Property, plant and equipment 2
Prepayments 12
Other taxes and social security 41
Accruals (53)
Total identifiable net assets 202
Gain on bargain purchase (2)
Total consideration 200
Satisfied by:
- Equity instruments (5,524,862 ordinary shares of 1Spatial plc) 200
Total consideration transferred 200
15. Earnings/(loss) per ordinary share
Basic (loss)/profit per share is calculated by dividing the (loss)/profit
attributable to equity holders of the Company by the weighted average number
of ordinary shares in issue during the year.
2017£'000 2016£'000
(Loss)/profit attributable to equity shareholders of the Parent (18,423) 12
Less (loss)/profit from discontinued operations (3,542) 630
Loss from continuing operations (14,881) (618)
Adjustments:
Profit attributable to non-controlling interest 121 -
Income tax credit (988) (503)
Net finance cost 32 27
Share of net loss of associates accounted for using the equity method 266 421
Depreciation 452 362
Amortisation and impairment of intangible assets 11,408 1,156
Share-based payment charge 566 976
Integration, strategic and one-off costs 2,617 1,081
Adjusted EBITDA from continuing operations (407) 2,902
2017Number000s 2016Number000s
Basic weighted average number of ordinary shares 728,895 691,283
Impact of share options and warrants - 3,593
Diluted weighted average number of ordinary shares 728,895 694,876
2017Pence 2016Pence
Basic (loss)/earnings per share (2.53) 0.00
- from continuing operations (2.04) (0.09)
- from discontinued operations (0.49) 0.09
Diluted (loss)/earnings per share (2.53) 0.00
- from continuing operations (2.04) (0.09)
- from discontinued operations (0.49) 0.09
Basic adjusted EBITDA per share (0.54) 0.53
- from continuing operations (0.06) 0.42
- from discontinued operations (0.49) 0.11
Diluted adjusted EBITDA per share (0.54) 0.53
- from continuing operations (0.06) 0.42
- from discontinued operations (0.49) 0.11
Where there is a loss per share, the share options and share warrants are not
dilutive and hence the diluted earnings per share is the same as the basic.
16. Availability of annual report and financial statements
Copies of the Company's full annual report and financial statements are
expected to be posted to shareholders in due course and, once posted, will
also be made available to download from the Company's website at
www.1Spatial.com.
The annual report and financial statements will also be made available for
inspection at the Company's registered office during normal business hours on
any weekday. 1Spatial plc is registered in England and Wales with registered
number 5429800. The registered office is c/o Capita Company Secretarial
Services Limited, First Floor, 40 Dukes Place, London EC3A 7NH.
This information is provided by RNS
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