REG - 450 PLC - Interim Financial Statements - 31 December 2023

450Announcement

20/03/2024 10:30

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RNS Number : 6065H  450 PLC  20 March 2024

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA,
JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN
WHICH IT WOULD BE UNLAWFUL TO DO SO.

 

LEI number: 2138004EUUU11OVHZW75

450 plc

(the "Company")

Interim Financial Statements for the period ended 31 December 2023

The Company announces the publication of its Interim Financial Statements for
the period ended 31 December 2023.

 

The Interim Financial Statements are also available on the 'Shareholder
Documents' page of the Company's at www.450plc.com.

 

Key highlights

Activity during the period and strategy

The Company's adopted investing policy is to focus on building a market leader
in the traditional and digital creative industries, capitalising on the
ongoing transformation of the content, media and technology sectors.

It is anticipated that the Company will acquire controlling or non-controlling
stakes in one or more businesses or companies (quoted or private) on a
long-term basis, including the consideration of public offers for, or mergers
with, existing listed businesses. The investments made by the Company may be
in the form of equity or other types of capital investment.

The Directors believe that opportunities exist to create significant value for
shareholders through properly executed, acquisition-led growth strategies
arising within the traditional and digital creative industries encompassing
the content, media and technology sectors. The Company's principal focus will
be on making investments in the UK, Europe or North America and will target
companies with either a well-established presence in their specific segments
or companies which are in a position to become leaders in their specific
segments.

The ongoing digital transformation of the media and entertainment industries
and widespread adoption of digital media has led to a fundamental change in
the way content is created, consumed and engaged with. Audiences and consumers
are engaging with content across multiple formats, including experiential and
immersive media, utilising both physical and digital delivery, alongside the
associated emergence of augmented and virtual reality technologies. The
investment policy is included in full on the Company's website at
www.450plc.com (http://www.450plc.com) .

 

Outlook

The Board continue to see promising opportunities for investment in the
content, media, and technology sectors but remain cautious in their views on
valuations and the importance of identifying scalable and sustainably
profitable business models. The Board believe the ongoing technological
advancements and shifts in consumer behaviour are likely to provide investment
opportunities in a sector undergoing structural change, with the Company's
listed status and investment thesis being well placed to capitalise on.

 

Results

The Group's loss after taxation for the period to 31 December 2023 was
£255,785 (31 December 2022: loss of £557,820). The Group held a cash balance
at the period end of £3,908,829 (as at 30 June 2023: £4,148,886).

 

Enquiries:

450 plc

Tel:+44(0)207 004 2700

Waheed Alli

James Corsellis

 

Deutsche Numis (Nominated Adviser)

Tel:+44(0)207 260 1000

Kevin Cruickshank

Jamie Loughborough

 

 

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