REG - Light Science Tech. - Half-year Report
31/08/2023 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230831:nRSe8547Ka&default-theme=true
RNS Number : 8547K Light Science Tech. Holdings PLC 31 August 2023
Light Science Technologies Holdings plc
("LSTH", the "Company" or the "Group")
Interim Results
Light Science Technologies Holdings plc (AIM: LST), the controlled environment
agriculture ("CEA") technology and contract electronics manufacturing ("CEM")
group, is pleased to announce its unaudited interim results for the six months
ended 31 May 2023 (the "Period").
Highlights:
· Revenue for the Period, up by 22% to £4.4m (H1 2022: £3.6m)
· Margins were flat at 20.9% (H1 2022: 20.9%) and up from 17.7% for the
full prior year
· Loss before Tax down 37% to £0.8m (H1 2022: £1.3m)
· CEM division continued to deliver strong revenue growth with gross
margin returning to normalised levels
· Realigned cost base and focused on broadening market reach of CEA
division to help mitigate impact of sales cycle fluctuations
· Raised £1.45m in new funds, which will be used, amongst other areas,
for product development and intellectual property protection within the
Group's CEA division
Commenting on the results and prospects, Simon Deacon, Chief Executive Officer
of Light Science Technologies, said:
"We continue to be excited by the growth potential across both divisions. With
the CEM division continuing to be our predominant revenue generator, and the
CEA division continuing to develop and market solutions to the unprecedented
pressures affecting the agricultural sector, we are well placed to take
advantage of growth opportunities. Daily discourse regarding food security and
supply highlights the ongoing challenges and impacts of unreliable harvests
and labour shortages and we believe that our solutions will help mitigate
these issues."
For additional information please contact:
Light Science Technologies Holdings plc www.lightsciencetechnologiesholdings.com
(http://www.lightsciencetechnologiesholdings.com/)
Simon Deacon, Chief Executive Officer via Walbrook PR
Jim Snooks, Chief Financial Officer
Andrew Hempsall, Chief Operating Officer
Strand Hanson Limited (Nominated & Financial Adviser) Tel: +44 (0) 20 7409 3494
Ritchie Balmer / James Harris / Rob Patrick
Oberon Capital (Broker)
Mike Seabrook / Nick Lovering Tel: +44 (0) 203 179 5300
Walbrook PR Ltd (Media & Investor Relations) Tel: +44 (0)20 7933 8780 or lst@walbrookpr.com (mailto:lst@walbrookpr.com)
Nick Rome / Paul McManus
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 (as amended).
About Light Science Technologies Holdings plc
(www.lightsciencetechnologiesholdings.com
(http://www.lightsciencetechnologiesholdings.com) )
Light Science Technologies Holdings plc is the holding company of the Group's
controlled environment agriculture ("CEA") division, Light Science
Technologies Ltd ("Light Science Technologies"), and its contract electronics
manufacturing ("CEM") division, UK Circuits and Electronics Solutions Limited
("UK Circuits").
Controlled Environment Agriculture
Light Science Technologies was founded in 2019 and is the Company's grow
lights and sensor technology business, providing bespoke recipes and
technologies tailored to customers' needs - with key targets including indoor,
vertical, glasshouses, polytunnels and medicinal farming markets. The
all-in-one CEA solution will include analysing customers' crop growing
requirements to provide bespoke, low-energy and sustainable equipment.
Market drivers include food and water shortages in many parts of the world;
growing global population; UK and other government policy encouraging
sustainable and efficient growth methods; increased scrutiny of the effect of
food production on climate change and the continuing transition away from
processed foods.
sensorGROW
sensorGROW was launched in June 2022 and its technology will enable farmers to
monitor the following key air zone growing factors in real-time: carbon
dioxide levels, humidity, light, oxygen - and in the future: air speed, plant
disease, soil, temperature and water pH levels. By monitoring these key
growing factors, farmers can save money through better management of
resources: water, nutrients, fertilisers and energy - while increasing yields
and producing healthier crops.
nurturGROW
nurturGROW is a sustainable grow lighting product range, offering an
innovative, high-performance and cost-effective solution for indoor farming,
covering greenhouses, vertical farming, polytunnels and medicinal plants.
Created with four core component parts, the nurturGROW range is made of high
quality, durable materials to give growers the ideal balance between strength
and optimal performance, minimising the amount of materials needed to
drastically cut down on waste and reduce carbon footprint.
Contract Electronics Manufacturing
UK Circuits is the Company's CEM focussed division, profit making with strong
revenues. The Group designs, procures, and manufactures high-quality CEM
products, specialising in Printed Circuit Boards, which are used in a range of
sectors including audio, automotive, electronics, gas detection, lighting,
pest control, telecommunications and, more recently, the CEA market.
Chief Executive's Report
Financial & Operating review
I am pleased to announce Group revenue for the six months to 31 May 2023 is up
by 22.4% to £4.4m (HY22: £3.6m), compared to the equivalent period last
year. Group performance reflected the benefits of operational improvements
undertaken to improve gross margins, which grew to 20.9% from 17.7% for the
full prior year (FY22).
The Contract Electronics Manufacturing ("CEM") division continues to
predominantly generate Group revenue, and it is very pleasing to see market
conditions gradually improving, with reduced supply chain constraints,
although the division is still experiencing more trade friction than
historically in pre-pandemic times. This division is now the manufacturing arm
of sister company Light Science Technologies - with the first production batch
of SensorGROW successfully running through the UK Circuits' facility during
the Period.
The Controlled Environment Agriculture ("CEA") division continues to
experience an elongation of the sales cycle, particularly in the UK and
certain European countries. This is due to a number of factors, most notably
ongoing input inflation experienced by growers, whereby growers' costs cannot
be passed on fully to their customers and consequently delays on capital
expenditure commitments have continued, specifically impacting LED lighting
projects.
The Group's broader strategy is to create global partnerships, to continue
developing its client portfolio and potential market reach into different
sectors. In parallel, the Group is focussed on growers who are less impacted
by high input costs, in the UK this includes cut flowers, bedding plants and
medicinal plants, and globally in regions where growers have been heavily
impacted by the extreme weather conditions, such as the US and UAE.
Additionally, the division continues to invest in its energy and waste saving,
all-in-one SensorGROW product, this will include the addition of Nitrous Oxide
sensing which will enable the extension of the product into outdoor (broad
acre) growing. The work we have completed on the software and AI elements of
the product will also be enhanced following the results of the air zone field
trials, to give the growers greater control over their environments and
leverage further savings in labour and material inputs.
In view of the pervading market conditions, the Board took the decision to
implement various strategies in the prior and current year to significantly
lower overheads, which are proving successful and have resulted in a 20%
reduction compared with the equivalent period last year, with ongoing savings
continuing in the second half of 2023. This, coupled with the increased gross
profit, led to a reduction in loss before tax for the six months to 31 May
2023 by 37% to a loss of £0.8m (HY22: loss of £1.3m).
Inventories increased slightly on the prior year end position by £0.3m to
£1.8m but have stabilised in the near term around this level, so as not to
compromise customer service levels. This stock is predominantly allocated to
specific customer orders received and if component shortages and inflationary
pressures continue to ease in the medium term as expected, it is anticipated
these levels will reduce.
In December 2022, the Group agreed a revolving stock loan facility with its
funding provider, Close Brothers, to aid the CEM division in managing its
working capital requirement, so as not to compromise customer service levels
should there be a return to a tightening of the supply chain in the sector,
and additionally to help mitigate against ongoing inflationary pressures.
The Group continued its planned programme of investment in the period. Capital
and other expenditure in the CEM division has been introduced to automate and
expand capacity at the Group's manufacturing site in Manchester and progress
to gaining further quality accreditations, to open new market opportunities.
Capital expenditure has been underlaid by a finance lease.
In April 2023, the Company issued 158,855,500 new ordinary shares, raising net
proceeds of £1.45m, which will be used, amongst other areas, for product
development and intellectual property protection within the Group's CEA
division.
Outlook
The Group, having implemented its cost-cutting measures, is now wholly focused
on delivering top line revenue growth. As alluded to, whilst we remain
confident that those revenue opportunities will crystallise over time, we are
unable to determine the exact timing, particularly within the CEA division. We
are seeking to mitigate this risk by looking at other opportunities that could
bridge any revenue gap that may arise, including acquisitions, and take
confidence from the 2023 performance of the CEM division which is expected to
exceed 2022's performance.
The Board looks forward to updating you as we progress throughout the rest of
the year.
Simon Deacon
Chief Executive Officer
30 August 2023
Consolidated statement of comprehensive income
For the six months ended 31 May 2023
Unaudited Unaudited Audited
Six months ended Six months ended Year ended
31 May 2023 31 May 2022 30 November 2022
Notes £ £ £
Revenue 3 4,358,720 3,560,519 8,166,769
Cost of sales (3,446,008) (2,814,757) (6,723,400)
Gross profit 912,712 745,762 1,443,369
Administrative expenses (1,634,438) (2,037,187) (4,263,454)
Other operating income 41,406 104,737 209,786
Operating loss (680,320) (1,186,688) (2,610,299)
Finance costs (128,961) (91,397) (112,167)
Loss on ordinary activities before taxation (809,281) (1,278,085) (2,722,466)
Income tax credit 4 50,887 86,075 235,147
Loss for the period and total comprehensive income for the period (758,394) (1,192,010) (2,487,319)
Attributable to:
The owners of the company (770,938) (1,201,396) (2,502,748)
Non-controlling interests 12,544 9,386 15,429
(758,394) (1,192,010) (2,487,319)
Loss per share
Basic and diluted (pence) 7 (0.38) (0.73) (1.51)
Consolidated balance sheet
As at 31 May 2023
Unaudited Unaudited Audited
as at 31 May as at 31 May as at 30 November
2023 2022 2022
Notes £ £ £
Assets
Non-current assets
Property, plant and equipment 718,296 863,211 777,919
Intangible assets 836,033 340,982 708,343
Right-of-use assets 560,145 623,951 658,680
2,114,474 1,828,144 2,144,942
Current assets
Inventories 1,848,193 1,899,391 1,583,349
Trade and other receivables 2,071,314 1,679,472 2,569,651
Corporation tax receivable 237,927 237,165 177,795
Cash and cash equivalents 1,002,846 1,779,817 590,673
5,160,280 5,595,845 4,921,468
Total assets 7,274,754 7,423,989 7,066,410
Liabilities
Current liabilities
Borrowings 5 (1,626,242) (1,128,460) (2,007,947)
Trade and other payables (2,158,789) (2,134,381) (2,079,134)
Lease liabilities (158,421) (210,539) (221,773)
(3,943,452) (3,473,380) (4,308,854)
Non-current liabilities
Borrowings 5 (288,889) (505,555) (397,222)
Trade and other payables (135,179) (77,779) (111,787)
Lease liabilities (275,354) (353,181) (313,060)
(699,422) (936,515) (822,069)
Total liabilities (4,642,874) (4,409,895) (5,130,923)
Net assets 2,631,880 3,014,094 1,935,487
Capital and reserves attributable to the owners of the company
Share capital 6 3,330,055 1,741,500 1,741,500
Share premium account 5,520,243 5,654,011 5,654,011
Share based payment reserve 600,000 509,298 726,000
Warrant reserve 159,593 159,593 159,593
Merger reserve (3,478,435) (3,478,435) (3,478,435)
Retained earnings (3,854,419) (1,908,129) (3,209,481)
2,277,037 2,677,838 1,593,188
Non-controlling interests 354,843 336,256 342,299
Total equity 2,631,880 3,014,094 1,935,487
Statements of changes in equity
For the six months ended 31 May 2023
Share premium Share based payment Warrant
Share capital account reserve reserve
Consolidated £ £ £ £
At 30 November 2021 1,741,500 5,654,011 220,363 159,593
Transactions with shareholders
Share based payment - - 288,935 -
Total transactions with shareholders - - 288,935 -
Comprehensive income
Loss for the period - - - -
Total comprehensive income - - - -
Unaudited balance at 31 May 2022 1,741,500 5,654,011 509,298 159,593
Transactions with shareholders
Share based payment - - 216,702 -
Total transactions with shareholders - - 216,702 -
Comprehensive income
Loss for the period - - - -
Total comprehensive income - - - -
Audited balance at 30 November 2022 1,741,500 5,654,011 726,000 159,593
Transactions with shareholders
Shares issued during the period 1,588,555 (133,768) - -
Share based payment - lapsed options - - (126,000) -
Total transactions with shareholders 1,588,555 (133,768) (126,000) -
Comprehensive income
Loss for the period - - - -
Total comprehensive income - - - -
Unaudited balance at 31 May 2023 3,330,055 5,520,243 600,000 159,593
Merger reserve Retained earnings Non- controlling interests Total equity
Consolidated £ £ £ £
At 30 November 2021 (3,478,435) (706,733) 326,870 3,917,169
Transactions with shareholders
Share based payment - - - 288,935
Total transactions with shareholders - - - 288,935
Comprehensive income
Loss for the period - (1,201,396) 9,386 (1,192,010)
Total comprehensive income - (1,201,396) 9,386 (1,192,010)
Unaudited balance at 31 May 2022 (3,478,435) (1,908,129) 336,256 3,014,094
Transactions with shareholders
Share based payment - - - 216,702
Total transactions with shareholders - - - 216,702
Comprehensive income
Loss for the period - (1,301,352) 6,043 (1,295,309)
Total comprehensive income - (1,301,352) 6,043 (1,295,309)
Audited balance at 30 November 2021 (3,478,435) (3,209,481) 342,299 1,935,487
Transactions with shareholders
Shares issued during the period - - - 1,454,787
Share based payment - 126,000 - -
Total transactions with shareholders - 126,000 - 1,454,787
Comprehensive income
Loss for the period - (770,938) 12,544 (758,394)
Total comprehensive income - (770,938) 12,544 (758,394)
Unaudited balance at 31 May 2022 (3,478,435) (3,854,419) 354,843 2,631,880
Consolidated cash flow statement
For the six months ended 31 May 2023
Unaudited Unaudited Audited
Six months ended 31 May Six months ended 31 May Year ended 30 November
2023 2022 2022
£ £ £
Cash flows from operating activities Loss after tax (758,394) (1,192,010) (2,487,319)
Adjustments for:
Depreciation of tangible assets 60,475 69,780 172,804
Depreciation of right-of-use assets 110,025 86,206 144,850
Amortisation of intangible assets 15,757 - -
Interest payable 128,961 91,397 112,167
Taxation and RDEC credit (56,345) (86,075) (205,511)
Share based payment - 288,935 505,637
Changes in working capital:
Increase in inventory (264,844) (699,642) (383,600)
Decrease / (increase) in trade and other receivables 498,337 58,858 (808,365)
Increase in trade and other payables 103,047 98,887 40,691
Cash used in operations (162,981) (1,283,664) (2,908,646)
Tax (paid) / received (3,787) - 155,849
Net cash outflow from operating activities (166,768) (1,283,664) (2,752,797)
Cash flows from investing activities
Purchase of property, plant and equipment (853) (126,587) (127,920)
Purchase of intangible fixed assets (143,447) (126,284) (493,645)
Purchase of right-of-use assets - - (5,804)
Net cash outflow from investing activities (144,300) (252,871) (627,369)
Cash flows from financing activities
Capital issued (net of issue costs) 1,454,787 - -
Repayment of loans (108,333) (108,333) (216,667)
Lease payments (112,547) (130,883) (248,738)
Interest paid on leases (16,118) (19,347) (37,769)
Net drawdown on working capital facilities (381,705) (213,465) 666,022
Interest paid on loans and borrowings (112,843) (72,050) (52,439)
Net cash inflow/(outflow) from financing activities 723,241 (544,078) 110,409
Increase in cash and cash equivalents 412,173 (2,080,613) (3,269,757)
Cash and cash equivalents including overdrafts at the start of the period 590,673 3,860,430 3,860,430
Cash and cash equivalents including overdrafts at the end of the period 1,002,846 1,779,817 590,673
Notes to the financial statements
1. General Information
Light Science Technologies Holdings plc was incorporated in England on 13
January 2020 as a private company limited by shares. On 8 July 2021, the
Company re-registered as a public limited company. The company's equity is
admitted to trading on AIM. The address of its registered office is 1 Lowman
Way, Hilton, Derby, England, DE65 5LJ.
The principal activity of the Group is the development and manufacturing of
electronic boards and the development and manufacturing of lighting and
technology products for the Controlled Environment Agriculture ("CEA") sector.
This condensed consolidated half-yearly financial information ("interim
results") was approved by the directors for issue on 30 August 2023.
The financial information in these interim results is that of the holding
company and all of its subsidiaries. It has been prepared in accordance with
UK-adopted international accounting standards. The accounting policies applied
by the Group in the preparation of these consolidated financial statements are
consistent with those applied by the Group in its latest audited financial
statements for the year ended 30 November 2022, a copy of which can be found
here: https://lightsciencetechnologiesholdings.com/investors/
(https://lightsciencetechnologiesholdings.com/investors/) . These policies
have been applied consistently to all periods presented.
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 respects of the
year ended 30 November 2022 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 and did not
contain a statement under section 498(2) or 498(3) of the Companies Act 2006.
The financial information for the six months ended 31 May 2023 and 31 May 2022
is unaudited.
As further detailed in the Company's Annual report, the Directors believe the
principal risks and uncertainties facing the Group over the final 6 months of
the year to be the continuing macroeconomic challenges from high input
inflation becoming embedded and rising interest rates to combat it.
Additionally, the ongoing and potential for new geopolitical uncertainties
impacting the global economy and its interconnected supply chains, remains a
risk. Whilst these factors present the Group with opportunities in the medium
to longer term (with the trend to grow more locally, sustainably and energy
efficiently), in the shorter term the Directors see these risks could have the
potential to further elongate the sales cycle and impact Group revenue and
cash generation. In consideration of these risks and uncertainties, the
Company continues implementation of various actions to manage cash flows and
discretionary spending.
There are no subsequent events requiring recognition and disclosure in the
financial statements.
The Directors do not recommend the payment of an interim dividend for the six
months ended 31 May 2023. No dividend has been paid in respect of the year
ended 30 November 2022
2. Going concern
Working capital forecasts have been prepared for the period to 30 November
2024. Based on the forecasts, the Group can meet its day-to-day cash flow
requirements and operate within all the terms of its borrowing facilities.
The Directors are satisfied that the Group has sufficient financing in place
to continue to meet its liabilities as they fall due for a period of at least
12 months from the date of approval of this report, the 30 August 2023, and
hence have prepared the financial statements on a going concern basis.
The Directors acknowledge that the current economic environment creates
material uncertainty over the level of future revenues and there would be a
probable need to raise additional funding to support Group requirements in the
second half of 2024, should the Group's expectations for revenue generation
over the coming 12 months not materialise as expected. The Directors note that
this material uncertainty may cast significant doubt on the group's ability to
continue as a going concern.
In response to these matters the Group has implemented a variety of actions to
manage cash flows and discretionary spending, including a reduction in the
costs of the Board and related salaries, offsetting purchasing cycles with
customers deposits and reducing other costs within the business.
The financial statements do not include any adjustments that would result if
the company were unable to continue as a going concern.
3. Revenue and segmental reporting
The total revenue of the Group for the period has been derived from its
principal activity wholly undertaken in the United Kingdom.
Revenue is in respect of supply of hardware and is recognised at a point in
time at the point of customer collection or dispatch. Revenue in respect of
laboratory services is recognised at a point in time when project gateways are
completed, the level of revenue is immaterial so has not been separately
disclosed. As new products and services are launched within the Controlled
Environment Agriculture segment, the revenue accounting policy and point of
recognition will develop.
During the six months to 31 May 2023 one customer represented 60.2% of total
revenue (HY22: 55.4%; 2022: 54.3%).
The Group has two operating segments 'Contract electronics manufacture'
relating to the development and manufacturing of electronic boards; and
'Controlled environment agriculture' relating to the development and
manufacturing of lighting and technology products for the Controlled
Environment Agriculture (CEA) sector. This is consistent with the presentation
in the last financial statements. The Chief Operating Decision Maker (CODM)
has been determined to be the Board. The performance of the two reportable
segments is based upon a review of profits and segmental assets/liabilities.
Contract Controlled
electronics environment
manufacture agriculture
31 May 2023 £ £ Total
Revenue 4,354,788 3,932 4,358,720
Depreciation and amortisation (84,279) (101,978) (186,257)
Operating profit/(loss) 265,105 (945,425) (680,320)
Segment assets 4,853,052 2,421,702 7,274,754
Segment liabilities (3,662,264) (980,610) (4,642,874)
Contract Controlled
electronics environment
manufacture agriculture
30 November 2022 £ £ Total
Revenue 8,038,645 128,124 8,166,769
Depreciation (172,357) (145,297) (317,654)
Operating profit/(loss) 269,381 (2,879,680) (2,610,299)
Segment assets 5,287,275 1,779,135 7,066,410
Segment liabilities (4,550,498) (580,425) (5,130,923)
Contract Controlled
electronics environment
manufacture agriculture
31 May 2022 £ £ Total
Revenue 3,547,324 13,195 3,560,519
Depreciation (89,838) (66,148) (155,986)
Operating profit/(loss) 274,956 (1,461,644) (1,186,688)
Segment assets 4,584,630 2,839,359 7,423,989
Segment liabilities (3,870,632) (539,263) (4,409,895)
4. Taxation
The tax credit is made up as follows:
31 May 31 May 30 November
2023 2022 2022
£ £ £
Current tax expense
UK corporation tax for the period (50,887) (86,075) (181,582)
Adjustment in respect of prior periods - - (53,565)
Total current income tax (50,887) (86,075) (235,147)
Deferred tax
Origination and reversal of timing difference - - -
(50,887) (86,075) (235,147)
The tax charge in the six month periods have been calculated based on the
estimated tax rate that is expected to apply to the full year.
5. Borrowings
31 May 31 May 30 November
2023 2022 2022
£ £ £
Current
Interest bearing loans 216,667 216,667 216,667
Invoice discounting facility 1,229,575 911,793 1,791,280
Stock loan facility 180,000 - -
1,626,242 1,128,460 2,007,947
Repayable between one
and five years
Interest-bearing loans 288,889 505,555 397,222
288,889 505,555 397,222
In October 2020, the Group entered into a term loan with a principal of
£975,000 payable in 54 equal instalments of £18,056 and interest payable at
5.5% plus base rate with the first six months payment free. The loan was
provided by Close Brothers under the Government backed Coronavirus Business
Interruption Loan Scheme (CBILS). The loan with Close Brothers is secured by
fixed and floating charges over the Group, including all property and
intellectual property. This is linked to the Group's invoice discounting
facility noted below. The balance for the CBILS term loan at 31 May 2023 was
£505,556 (HY22: £722,222; 2022: £613,889).
The Group has in place ongoing invoice discounting facility arrangements
provided by Close Brothers. Interest is payable on the invoice discounting
facility at 2% plus base rate. The invoice discounting facility with Close
Brothers is secured by fixed and floating charges over the Group, including
all property and intellectual property, as well as the trade receivables of
the subsidiary, UK Circuits and Electronics Solutions Limited.
The Group agreed a stock loan facility in December 2022 with Close Brothers.
Interest is payable on the stock loan facility at 3.25% plus base rate. This
facility provides up to £750,000 working capital secured by fixed and
floating charges over the Group, including all property and intellectual
property, as well as the inventories of the subsidiary, UK Circuits and
Electronics Solutions Limited.
6. Issued equity capital
Total no. of
Nominal Ordinary Total
Company value shares £
At 1 December 2021, 31 May 2022 and 30 November 2022 £0.01 174,150,000 1,741,500
Share issue £0.01 158,855,500 1,588,555
At 31 May 2023 £0.01 333,005,500 3,330,055
During the month of April 2023, an aggregated total of 158,855,500 new
ordinary shares were issued at a price of £0.01 per share equating to the
nominal value of those shares.
The share premium account is shown net of £133,768 of share issuance costs in
connection with this.
7. Loss per share
Basic loss per share is calculation on the loss for the period after taxation
attributable to the owners of the parent of £770,938 and on 200,624,470
ordinary shares, being the weighted number in issue during the period
excluding shares held by the Employee Benefit Trust (EBT). Unexercised options
over the ordinary shares are not included in the calculation of diluted loss
per share as they are anti-dilutive. Share options over a total of 1,400,000
shares have lapsed since the end of the last financial statements.
31 May 2023 31 May 2022
Basic and Diluted EPS Earnings Weighted average number of shares Per share amount (pence) Earnings Weighted average number of shares Per share amount (pence)
£ £
Weighted average number of ordinary shares 209,524,470 174,150,000
Adjusted for the effect of own shares held by EBT (8,900,000) (8,900,000)
Earnings attributable to ordinary shareholders of the Company (770,938) 200,624,470 (0.38) (1,201,396) 165,250,000 (0.73)
30 November 2022
Basic and Diluted EPS Earnings Weighted average number of shares Per share amount (pence)
£
Weighted average number of ordinary shares 174,150,000
Adjusted for the effect of own shares held by EBT (8,900,000)
Earnings attributable to ordinary shareholders of the Company (2,502,748) 165,250,000 (1.51)
Diluted Earnings Per Share
Basic and diluted loss per share are equal as where a loss is incurred the
effect of outstanding share options and warrants is considered anti-dilutive
and is ignored for the purpose of the loss per share calculation.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IR QBLFXXVLBBBLRecent news on Light Science Technologies Holdings
See all newsREG - Light Science Tech. - Result of AGM
AnnouncementRCS - Light Science Tech. - PFP Division – UK Dangerous Cladding Report
AnnouncementREG - Light Science Tech. - Final Results
AnnouncementREG - Light Science Tech. - Notice of Results, Analyst Briefing, Investor Pres
AnnouncementREG - Light Science Tech. - Capital Markets Day & Retail Investor Presentation
Announcement