REG - European Green Trns. - Interim Results and M&A Strategy Update
24/09/2025 07:00
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RNS Number : 5264A European Green Transition PLC 24 September 2025
24 September 2025
European Green Transition plc
("European Green Transition", "EGT" or "the Company")
Interim results and M&A strategy update
European Green Transition (AIM: EGT), a company which aims to capitalise on
the opportunities created by the green energy transition in Europe, announces
its unaudited results for the six months ended 30 June 2025.
Highlights
· Extension of the Olserum Rare Earth Elements ("REE") project
licenses in Sweden until June 2029, following the successful completion of the
Olserum REE drill programme in H2 2024 which confirmed the district scale
potential for REEs at Olserum
· Successful extension of the Pajala Copper-Graphite project licenses
in Sweden for a further three years, now valid until March 2028
· Secured a six-month extension to the Altan Carbon Credit project
option agreement at no additional cost as discussions progress with key
stakeholders to assess the near-term revenue potential of the project
· Positive engagement with multiple parties regarding the sale and/or
partnership of EGT's exploration assets amid positive market tailwinds as the
Company continues to focus its resources away from natural resources and
mining to focus on revenue-generating businesses
· EGT remains well capitalised with £2.9 million cash (as at 30 June
2025) with no debt or committed costs
· Cathal Friel, the Company's co-founder and largest shareholder,
assumed the role of Non-Executive Chairman in mid-April 2025 and transitioned
to the Executive Chairman role from 30 June 2025, where he is leading EGT's
M&A strategy
· Daniel Akselson remains on the Board as Non-Executive Director and
continues to chair the Audit Committee
M&A strategy update
EGT has identified and continues to engage with a range of distressed,
revenue-generating acquisition targets available at attractive valuations.
This is in line with EGT's previously stated strategy to reallocate its
resources towards acquiring revenue generating businesses - announced
alongside Cathal Friel's appointment as Chair on 4 June 2025. Given the
uncertainty and challenging long-term prospects faced by many businesses
focused on the green economy, EGT is also evaluating opportunities in other
sectors alongside its existing pipeline of green economy opportunities. This
includes areas in which EGT's management team has extensive experience in
transforming distressed businesses into sustainable, profitable companies. As
a result, the Board believes that this may be the optimal approach for
allocating EGT's capital resources and delivering long-term, sustainable
returns to shareholders, therefore will continue to evaluate opportunities
beyond the green economy.
Cathal Friel, Co-founder and Executive Chairman, commented:
"We continue to execute on our strategy to reallocate our resources away from
exploration and mining towards acquiring and transforming distressed,
revenue-generating businesses. Over the past six months we have made
significant progress in identifying and engaging with potential acquisition
targets. We continue to see a range of promising acquisition opportunities
across the green economy and other sectors. Given our strong track record of
transforming distressed businesses, we will evaluate these opportunities and
prioritise deals where we can deliver sustainable, long-term returns for our
shareholders.
Elsewhere across our exploration and mining portfolio, we have successfully
extended the key licenses for our Olserum REE and Pajala Copper-Graphite
projects in Sweden, ensuring these assets remain well-positioned for potential
sale or partnership opportunities. The Olserum REE project in particular
continues to attract interest with REE prices increasing substantially in
recent months, as ongoing geopolitical uncertainty has created significant and
global disruption to critical industries such as automobiles, defence and
renewables. The U.S. Government's direct investment in Mountain Pass Materials
highlights the urgent global need to address the critical supply shortage, and
bodes well for the potential of our Olserum REE project's role in helping to
secure Europe's rare earth supply chains.
I recently stepped into the role of Executive Chairman of EGT, and I look
forward to supporting the Company in its next phase of growth. As co-founder
and the largest shareholder, my interests are fully aligned with those of our
shareholders, and I am confident that the team can leverage its extensive
M&A experience to replicate our success of transforming small-cap
companies through M&A."
-ENDS-
Enquiries
European Green Transition plc +44 (0) 208 058 6129
The Cathal Friel, Executive Chairman
Jack Kelly, CFO
Panmure Liberum - Nominated Adviser & Broker + 44 (0) 20 7886 2500
James Sinclair-Ford / Gaya Bhatt
Mark Murphy / Rauf Munir
Camarco - Financial PR + 44 (0) 20 3757 4980
Billy Clegg, Elfie Kent, europeangreentransition@camarco.co.uk
Lily Pettifar, Poppy Hawkins (mailto:europeangreentransition@camarco.co.uk)
Notes to Editors
European Green Transition plc (quoted on the AIM market of the London Stock
Exchange under the ticker "EGT") is a company which aims to capitalise on the
opportunities created by the green energy transition in Europe. EGT is seeking
to monetise its existing portfolio of mining projects through sale or
partnership as it looks to allocate its resources away from natural resources
and mining to focus on acquiring and transforming distressed, revenue
generating businesses through M&A.
For more information, please go to www.europeangreentransition.com
(https://www.europeangreentransition.com/) or follow us on X (formerly
Twitter ) (https://twitter.com/EuropeanGreenT) and LinkedIn
(https://www.linkedin.com/company/european-green-metals-ltd) .
Executive Chairman's Statement
for the six months ended 30 June 2025
Introduction
I am pleased to present the Interim Results for European Green Transition plc
(EGT) for the first six months of 2025.
I was appointed Executive Chairman in June 2025, I am delighted to have
assumed this role at such a pivotal stage in the Company's development. As
co-founder and the largest shareholder of EGT, my interests are closely
aligned with those of our shareholders and I am confident in our ability to
execute our M&A-led strategy, focused on acquiring distressed, revenue
generating businesses with the objective of unlocking significant value for
our shareholders.
As we continue to transition the business away from mining and natural
resources, we remain focussed on generating value from our existing portfolio
of European mining projects, particularly the Olserum REE project in Sweden,
which has the potential to contribute significantly to the supply of REEs in
Europe. We are actively seeking to monetise these projects through sale or
partnership with third parties as we look to realise further value for our
shareholders.
M&A Update
During the period, EGT continued to advance its acquisition strategy, with a
focus on engaging with distressed, revenue-generating businesses across the UK
and Ireland. The current market environment, characterised by uncertainty
within the green economy sector, presents a unique opportunity for EGT to
acquire attractive businesses at favourable valuations. We continue to
progress these conversations, working closely with the respective management
teams to develop a roadmap to transform these targets into profitable,
cash-generative businesses that will drive value for all stakeholders.
In addition to our focus on the green economy, EGT has identified a number of
promising opportunities in other sectors where our leadership team holds a
proven track record of delivering transformational growth in distressed
businesses. The Board is confident that this approach represents the optimal
deployment of capital and as a result, EGT will continue to assess
opportunities outside the green economy, where relevant.
The Group remains debt-free and well capitalised, with £2.9 million cash as
at 30 June 2025 and no further committed expenditure on mining projects.
Supported by a capital-light structure and an experienced team, EGT retains
the flexibility to act decisively as attractive opportunities materialise.
Olserum Rare Earths Project
As outlined at IPO, EGT's intention is not to develop its exploration mining
projects through to production, rather our focus has been to position our
exploration mining projects for sale or partnership and generate an attractive
return for EGT shareholders. We have made strong progress in recent months,
specifically extending our key licenses for the Olserum REE project to June
2029.
The strategic importance of REEs (rare earth elements) continues to remain
highly relevant, reflecting their critical role in renewable energy,
automotive and defence supply chains. Over the past six months, rare earths
have moved firmly to the forefront of global strategic agendas. China remains
the dominant force in the refining and processing stages, accounting for more
than two-thirds of global production and approximately 90% of finished rare
earth magnets. This concentration of capability has become a key area of focus
for governments and industries worldwide. Notably, the US Government has acted
decisively to strengthen its domestic supply chain through a $400 million
investment in MP Materials Corp., the operator of the Mountain Pass mine in
California. Shortly thereafter, Apple committed a further $500 million
investment in MP Materials to secure long-term access to US-sourced rare
earths.
With no active rare earth mines currently operating in Europe, there is an
urgent need to establish secure supply for critical minerals essential to the
region's green transition and industrial resilience. Both the European Union
and national governments are actively pursuing strategies to develop domestic
supply chains, and we believe the Olserum project is well positioned to play a
key role in this emerging landscape.
Rare earth prices reached a two-year high in August 2025, driven by
constrained supply dynamics. These market conditions, combined with the
results of our 2024 Olserum drill programme-which confirmed the district-scale
potential of the REE system at Olserum-position the project strongly for
ongoing sale and partnership discussions. We look forward to providing further
updates as these discussions progress.
Pajala Copper-Graphite Project
The Pajala project in northern Sweden continues to generate strong interest,
supported by robust copper prices and the project's significant copper and
graphite potential. The extension of project licences to March 2028 reinforces
our ability to realise value through sale or partnership, consistent with the
strategic approach we have applied to the Olserum REE project. This positions
Pajala as a further opportunity to deliver value for shareholders as market
conditions evolve.
Altan Carbon Credit Project
We continue to evaluate the near-term revenue potential of our carbon credit
project at Altan Farm in Donegal, Ireland. During H1 25, we successfully
extended our option agreement by a further six months to November 2025 at no
additional cost. The project is designed to work collaboratively with
landowners across Ireland to develop a scalable and capital-efficient model
for generating carbon and biodiversity credits through peatland
rehabilitation. The launch of the Irish Peatland Standard in early 2025 has
established a supportive regulatory framework for projects such as Altan.
Peatland restoration in Ireland continues to attract growing corporate demand
with leading technology companies, notably Meta, Microsoft and Google,
recently pledging €3 million to finance peatland restoration across 1,100
acres of degraded peatland sites in the Wicklow mountains, near Dublin. We
continue to engage actively with key stakeholders to advance our Altan project
and look forward to updating shareholders in due course.
Outlook
EGT remains well capitalised and fully focused on executing our disciplined
M&A-driven strategy. We are confident that the foundations established at
the Olserum REE and Pajala Copper-Graphite projects will support the
realisation of their value, while our continued pursuit of revenue-generating,
distressed acquisitions across multiple sectors positions the Company to
deliver sustainable long-term returns for shareholders.
We are grateful to our shareholders for their continued support and look
forward to providing updates on our progress throughout the remainder of 2025
and beyond.
Cathal Friel
Executive Chairman
23 September 2025
Consolidated Statement of Comprehensive Income
For the period ended 30 June 2025
Note Unaudited Unaudited Audited
6 months ended 6 months ended Year ended
30 June 2025 30 June 2024 31 December 2024
GBP£ GBP£ GBP£
Restated
Revenue - - -
Administrative costs (658,084) (904,173) (1,809,225)
Exceptional items 3 - (379,008) (386,094)
Operating loss (658,084) (1,283,181) (2,195,319)
Net finance 4 61,602 1,391 55,289
income
(Loss) before income tax (596,482) (1,281,790) (2,140,030)
Income tax - - -
(charge)
(Loss) for the period (596,482) (1,281,790) (2,140,030)
Other comprehensive (loss)/income
Currency translation differences (8,954) (25,838) 10,376
Total comprehensive (loss) for the period (605,436) (1,307,628) (2,129,654)
Earnings per share from operations attributable to shareholders during the
period:
Basic and diluted (loss) per ordinary share
6 (£0.0041) (£0.0172) (£0.0195)
From operations
All operations are continuing, and the accompanying notes form an integral
part of these interim financial statements.
Consolidated Statement of Financial Position
As at 30 June 2025
Note 30 June 2025 30 June 2024 31 December 2024
Unaudited Unaudited Audited
GBP£ GBP£ GBP£
Restated
Assets
Non-current assets
Intangible 7 2,063,390 1,658,265 1,986,713
assets
2,030 1,921 2,505
Property, plant and
equipment
Total non-current assets 2,065,420 1,660,186 1,989,218
Current assets
Trade and other 74,719 64,593 43,204
receivables
18,890 62,606 39,091
VAT recoverable
2,880,329 4,879,233 3,661,001
Cash and cash
equivalents
Total current assets 2,973,938 5,006,432 3,743,296
Total assets 5,039,358 6,666,618 5,732,514
Equity attributable to owners
Share 8 361,552 361,552 361,552
capital
3/8 7,720,127 7,720,362 7,720,127
Share premium account
8 305,081 305,081 305,081
Reverse acquisition reserve
8 40,805 8,161 24,483
Share option
reserve 8 4,159 (23,101) 13,113
Foreign currency 8 (3,580,253) (2,125,531) (2,983,771)
reserves
Retained
earnings
Total equity 4,851,471 6,246,524 5,440,585
Liabilities
Current liabilities
Trade and other 187,887 420,094 291,929
payables
Total current liabilities 187,887 420,094 291,929
Total liabilities 187,887 420,094 291,929
Total equity and liabilities 5,039,358 6,666,618 5,732,514
Consolidated Statement of Changes in Shareholders' Equity
For the period ended 30 June 2025
Share Share Share Reverse Foreign Retained Total
Capital Premium Option Acquisition currency Earnings GBP£
GBP£ GBP£ Reserve Reserve Reserve GBP£
Restated (Note 3) GBP£ GBP£ GBP£
At 1 January 2024 116,672 291,015 - - 2,737 (843,741) (433,317)
Changes in equity for the 6 months ended 30 Jun 2024
(Loss) for the period - - - - - (1,281,790) (1,281,790)
Currency differences - - - - (25,838) - (25,838)
Total comprehensive (loss) for the period - - - - (25,838) (1,281,790) (1,307,628)
Transactions with the owners
Shares issued 244,880 7,429,347 - - - 7,674,227
Share option reserve 8,161 8,161
Reverse acquisition reserve 305,081 305,081
Total contributions by and distributions to owners 244,880 7,429,347 8,161 305,081 - - 7,987,469
At 30 June 2024 361,552 7,720,362 8,161 305,081 (23,101) (2,125,531) 6,246,524
Changes in equity for the 6 months ended 31 Dec 2024
(Loss) for the period - - - - - (858,240) (858,240)
Currency differences - - - - 36,214 - 36,214
Total comprehensive (loss) for the period - - - - 36,214 (858,240) (822,026)
Transactions with the owners
Shares issued - (235) - - - - (235)
Share option reserve - - 16,322 - 16,322
Total contributions by and distributions to owners - (235) 16,322 - - - 16,087
At 31 December 2024 361,552 7,720,127 24,483 305,081 13,113 (2,983,771) 5,440,585
Changes in equity for the 6 months ended 30 Jun 2025
(Loss) for the period - - - - - (596,482) (596,482)
Currency differences - - - - (8,954) - (8,954)
Total comprehensive (loss) for the period - - - - (8,954) (596,482) (605,436)
Transactions with the owners
Share option reserve - - 16,322 - - - 16,322
Total contributions by and distributions to owners - - 16,322 - - - 16,322
At 30 June 2025 361,552 7,720,127 40,805 305,081 4,159 (3,580,253) 4,851,471
See Note 8 for a definition of the reserves above.
Consolidated Statement of Cash Flows
For the period ended 30 June 2025
Note 30 June 2025 30 June 2024 Unaudited 31 December 2024 Audited
Unaudited GBP£ GBP£
GBP£ Restated
Cash Flow from operating activities
Loss before income tax (596,482) (1,281,790) (2,140,030)
Adjustments:
Net finance costs 4 (61,602) (1,391) (55,289)
Exceptional items 3 - 379,008 386,094
Purchase of option agreements over new projects - 209,743 233,927
Share based payment charge 5 16,322 8,161 24,483
Depreciation 527 - 620
Changes in working capital:
(Increase) in trade & other receivables (36,520) (63,297) (29,520)
Decrease/(Increase) in VAT recoverable 20,201 (31,058) (7,543)
(Decrease)/Increase in trade & other payables (104,042) 82,076 (29,330)
Net cash (used) in operating activities (761,596) (698,548) (1,616,588
Cash flow from investing activities
Purchase of property, plant and - (1,071) (2,275)
equipment
Purchase of intangible 7 (28,845) (86,927) (415,375)
assets
Purchase of option agreements over new projects - (209,743) (233,927)
Net cash (used) in investing activities (28,845) (297,741) (651,577)
Cash flow from financing activities
Proceeds from issuance of ordinary - 6,500,253 6,500,253
shares
Cost of IPO - (974,852) (950,574)
Proceeds from new convertible debt - 255,000 255,000
securities
Interest 66,581 (15,512) 26,142
received/(paid)
Net cash generated by financing activities 66,581 5,764,889 5,830,821
Net (decrease)/increase in cash and cash equivalents (723,860) 4,768,600 3,562,656
Cash and cash equivalents at beginning of 3,661,001 87,969 87,969
period
FX translation (56,812) 22,664 10,376
Cash and cash equivalents at end of period 2,880,329 4,879,233 3,661,001
Notes to the Financial Statements
For the period ended 30 June 2025
1. General information
European Green Transition plc ("EGT", the "Company", the "EGT Group"), was
incorporated on 25 January 2024. The Company is a public limited company,
incorporated in England and Wales. The Company is limited by shares, and it
listed on the AIM market of the London Stock Exchange (under the ticker
"EGT") on 8 April 2024. The registered address of the Company is The Walbrook
Building, 25 Walbrook, London, EC4N 8AF, UK. The EGT Group comprises European
Green Transition plc and its subsidiary companies.
European Green Transition plc is a company which is seeking to acquire
distressed, revenue generating businesses.
The financial statements are presented in GBP ("£"), except where otherwise
indicated.
The registered number of the Company is 15442832.
2. Basis of preparation and accounting policies
The consolidated Financial Statements comprise those of the Company and its
subsidiaries (together the "Group"). The consolidated Financial Statements of
the Group have been prepared in accordance with UK-adopted international
accounting standards ("UK-adopted IAS") as they apply to the Group for the
period ended 30 June 2025 with the requirements of the Companies Act 2006. The
Financial Statements are prepared on the historical cost basis.
The accounting policies applied by the Group in this financial information are
the same as those applied by European Green Transition plc in its financial
statements for the year ended 31 December 2024 and which will form the basis
of the 2025 financial statements.
The financial information presented herein does not constitute full statutory
accounts under Section 434 of the Companies Act 2006 and was not subject to a
formal review by the auditors. The financial information in respect of the
year ended 31 December 2024 has been extracted from the statutory accounts
which have been delivered to the Registrar of Companies. The Group's
Independent Auditor's report on those accounts was unqualified, did not
include references to any matters to which the auditor drew attention by way
of emphasis without qualifying their report and did not contain a statement
under section 498(2) or 498(3) of the Companies Act 2006.
The financial Information for the half years ended 30 June 2025 and 30 June
2024 is unaudited and the twelve months to 31 December 2024 is audited. The
directors have not adopted IAS34 with the preparation of the interim financial
statements.
The Interim Financial Statements were approved by the Board of Directors
on 23 September 2025.
3. Exceptional items
30 June 2025 30 June 2024 31 December 2024
Unaudited Unaudited Audited
GBP£ GBP£ GBP£
Restated
Exceptional items include:
- Transaction costs relating to IPO of Company - 379,008 386,094
Total exceptional Loss - 379,008 386,094
After finalizing all costs relating to the IPO of the Company and the related
fund-raise in the year ending 31 December 2024, £209,994 of costs were
transferred to the Share Premium account as they directly related to the
issuance of new shares, as part of the Company's IPO in April 2024. As such,
the exceptional item, the share premium and retained earnings balances for the
comparative period as at 30 June 2024 have been restated.
4. Net finance costs
30 June 2025 30 June 2024 31 December 2024
Unaudited Unaudited Audited
GBP£ GBP£ GBP£
Interest write-back:
- Interest credited on convertible debt securities* - 1,247 1,247
Finance income - 1,247 1,247
Finance income
- Interest income on bond held by Swedish Mining authority 46 - 111
- Interest on tax and other refunds - 144 502
- Interest income on bank deposits 61,556 - 53,429
Finance income 61,602 144 54,042
Net finance income 61,602 1,391 55,289
*All convertible debt securities converted to ordinary shares in EGT on date
of IPO 8 April 2024.
5. Share based payments
In April 2024, an Employee Performance Incentive Plan was launched granting
2,300,000 share options in EGT to 2 Executive Directors and a member of the
senior management team.
The value of the options was measured by the use of a Black Scholes Model. The
inputs into the Black Scholes Model made as at 30 June 2025 were as follows:
Options in Issue 2,300,000
Exercise price (when share price above 18.5p for 14 consecutive days on AIM) 0.0025p
Expected volatility 75%
Expected dividend 0%
Contractual Life remaining 6.6 yrs
Risk free interest rate 3.5%
Estimated fair value of each option 0.0982p
The share-based payment charge for the period ending 30 June 2025 was £16,322
(H1 2024: £8,161).
6. Loss per share
Basic and diluted
Basic loss per share is calculated by dividing the (Loss) attributable to
equity holders of the Company by the weighted average number of ordinary
shares in issue during the period.
30 June 2025 30 June 2024 31 December 2024
Unaudited Unaudited Audited
GBP£ GBP£ GBP£
Restated
(Loss) for the period (Note 3) (596,482) (1,281,790) (2,140,030)
Weighted average number of 144,620,892 74,482,841 109,743,447
Ordinary Shares in issue
Earnings per share from operations £ (0.0041) £ (0.0172) £ (0.0195)
Due to the losses in the period, the effect of the share options noted in note
5 are considered to be anti-dilutive. The weighted average number of
potentially dilutive share options at 30 June 2025 was 2,300,000.
7. Intangible fixed assets
30 June 2025 30 June 2024 31 December 2024
Unaudited Unaudited Audited
Group GBP£ GBP£ GBP£
Cost
At 1 January 2,030,828 1,615,453 1,615,453
Additions 28,845 90,981 422,877
Exchange differences 47,832 (4,054) (7,502)
At period end 2,107,505 1,702,380 2,030,828
Amortisation and impairment
At 1 January (44,115) (44,115) (44,115)
Charge for the period - - -
At period end (44,115) (44,115) (44,115)
Net book value at period end 2,063,390 1,658,265 1,986,713
The Group reviews the carrying amounts of its intangible assets to determine
whether there are any indications that those assets have suffered an
impairment loss. If any such indications exist, the recoverable amount of the
asset is estimated in order to determine the extent of the impairment loss.
Impairment indications include events causing significant changes in any of
the underlying valuation assumptions used.
In the current period no impairment charge was indicated (2024: Nil).
8. Share capital & reserves
30 June 2025 30 June 2024 31 December 2024
Unaudited Unaudited Audited
Share Capital GBP£ GBP£ GBP£
144,620,892 Ordinary EGT shares of £0.0025 361,552 361,552 361,552
Total 361,552 361,552 361,552
The share capital of European Green Transition plc consists only of fully paid
ordinary shares. All shares are equally eligible to share in declared
dividends, appoint Directors, receive notice of, attend, speak and vote at any
general meeting of the Company.
Share premium
Share premium is the difference between the nominal value of share capital and
the actual cash received on fund-raising less any costs associated with the
fund-raising. See Note 3 for details on the restatement of the retained
earnings balance as at 30 June 2024
Reverse acquisition reserve
This arises as a result of the reverse acquisition by European Green Metals
Ltd of European Green Transition plc in March 2024, which was completed to
facilitate the IPO.
Share option reserve
A share option reserve of £40,805 has been created following the granting of
share options in European Green Transition plc on its admission to AIM on 8
April 2024.
Foreign currency reserve
The presentation currency of the Group is GBP£. This reserve arises from the
translation of the subsidiaries which are denominated in Euro and SEK into
GBP£ on consolidation.
Retained Earnings
Retained earnings reflect the earnings of the European Green Transition plc
and its subsidiaries. See Note 3 for details on the restatement of the
retained earnings balance as at 30 June 2024.
9. Capital commitments
The Group had no capital commitments at 30 June 2025 or at 31 December 2024.
The exploration projects are all held under exploration licences, which are
due for renewal in future years. These renewals will incur modest associated
renewal fees. There are various specific costs relating to the continuance of
business activities including staffing and consultancy costs, office costs and
various sundry items including warehousing commitments for equipment and core
storage.
No provision has been made in the financial statements for these amounts as
the expenditure items are expected to be incurred in the normal course of
business operations. Furthermore, whilst maintaining the current portfolio of
exploration interests is the intent of the Group, should activities be ceased
in any project, aside from modest exit costs, the costs of that project would
cease.
10. Related Party disclosures
Raglan Professional Services Limited, a company controlled by Cathal Friel,
Executive Chairman, invoiced the Group for consultancy services of £88,246
(H1 2024: £55,559). There was a balance of £55,980 outstanding at period
end. (H1 2024: £27,420 outstanding at period end).
Poolbeg Pharma (Ireland) Limited, a company in which Cathal Friel is a
director, invoiced the Group for services in relation to shared office and
staff costs of £100,343 (H1 2024: Nil). There was a balance of £33,000
outstanding at period end. (H1 2024: Nil outstanding at period end).
Mitaks Investment & Management AB, a company controlled by Daniel
Akselson, Non-Executive Director, invoiced the company for consultancy
services of £3,667 (H1 2024: £25,000). There was a balance of £3,667
outstanding at period end. (H1 2024: Nil outstanding at period end).
11. Post balance sheet events
There have been no post balance sheet events since the period end.
12. Ultimate controlling party
At 30 June 2025 there was no one ultimate controlling party of the EGT group.
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