REG-Marechale Capital Plc: Half-year Report

Marechale CapitalAnnouncement

11/12/2021 19:15

1 December 2021

Marechale Capital plc

("Marechale Capital" or the "Company")

Half-yearly Results

Marechale Capital plc today announces its unaudited half-yearly results for
the six months ended 31 October 2021.

Chairman’s Statement

I am delighted to report significant progress at Marechale Capital which
continues to build on the success we reported in our 2020/21 final results
published in August.

Financial and Operational highlights are as follows;
* Reported NAV/share increases to 2.7p
* Gross Profit up 75%
* Profit before tax rises to £1.5m
* Investment and financing round in Weardale Lithium completed
* Luke Johnson acquires a significant shareholding
During the six months we generated a Gross Profit of £227,500 (2020:
£130,000) and delivered a small Operating loss of £15,000 (2020: Operating
loss £64,000). However, the gains on investments have resulted in a Profit
before tax of £1,501,000 (compared to a Loss before tax in 2020 of £64,000).

The investment gains, which are unrealised, are primarily due to the £1.5m
uplift on our investment in Weardale Lithium Ltd in the last six months and a
£320,000 uplift on our investment in Future Biogas Group (in the six months
to April 2021). The Board remains positive about these and the other
investments the Company has made as part of its corporate finance
activities. 

Net Assets have increased from £0.99m to £2.24m.  At 31 October 2021 we
held cash at bank of £358,000.

The Marechale Capital team remain busy working on new and existing projects in
the hospitality, clean energy and technology sectors.

Mark Warde-Norbury

Chairman

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

For further information please contact:

 Marechale Capital Mark Warde-Norbury / Patrick Booth-Clibborn  Tel: +44 (0)20 7628 5582  
 Cairn Financial Advisers LLP Jo Turner / Sandy Jamieson        Tel: +44 (0)20 7213 0880  

   

 Income Statement (unaudited)                                                       
                                                                                    
 6 months ended 31 October                                       2021          2020 
                                                                    £               
 Revenue                                                      497,194       175,837 
 Cost of sales                                              (269,759)      (45,999) 
                                                                                    
 Gross profit                                                 227,435       129,838 
                                                                                    
 HMRC Furlough Income                                               -        30,655 
 Administrative expenses                                    (242,926)     (224,932) 
                                                                                    
 Operating loss                                              (15,491)      (64,439) 
                                                                                    
 Investment revenues                                        1,516,726             - 
                                                                                    
 Profit/ (loss) before tax                                  1,501,235      (64,439) 
 Taxation                                                           -             - 
                                                                                    
                                                                                    
 Profit/ (loss) after tax                                   1,501,235      (64,439) 
                                                                                    
 Profit/ (loss) per share                                                           
                                                              (Pence)       (Pence) 
                            - Basic                              1.70         (0.1) 
                            - Diluted                            1.65         (0.1) 
                                                                                    
                                                                                    

   

 Balance Sheet (unaudited)                                                                                                                               
                                                                                                                                                         
 As at                                                                                                            31 October                  31 October 
                                                                                                                        2021                        2020 
 Current assets                                                                                                                                          
 Available for sale investments                                                                                    1,982,566                      52,039 
 Trading investments                                                                                                  90,013                         881 
 Trade and other receivables                                                                                          41,884                      28,162 
 Cash and cash equivalents                                                                                           357,875                     176,675 
                                                                                                                   2,472,338                     257,757 
                                                                                                                                                         
 Current liabilities                                                                                                                                     
 Trade and other payables PAYE Bounce-back Loan                                                    (56,950) (10,283) (47,500  (72,343) (36,156) (50,000) 
                                                                                                                                                         
 Total current liabilities                                                                                         (114,733)                   (158,499) 
                                                                                                                                                         
 Net assets                                                                                                        2,237,605                      99,258 
 Equity                                                                                                                                                  
 Capital and reserves attributable to equity shareholders                                                                                                
 Share capital Share premium                                                                                 707,690 181,247                   461,449 - 
 Reserve for own shares                                                                                             (50,254)                    (50,254) 
 Retained profits/ (losses)                                                                                        1,465,594                   (345,965) 
 Reserve for share based payments                                                                                     53,328                      34,028 
                                                                                                                   2,357,605                      99,258 
                                                                                                                                                         
                                                                                                                                                         

   

 Cash Flow Statement (unaudited)                                                                                                                                                                
 6 months ended                                                                                                                                                  31 October          31 October 
                                                                                                                                                                       2021                2020 
                                                                                                                                                                          £                   £ 
 Net cash from operating activities                                                                                                                                                             
 Profit/ (loss) after tax                                                                                                                                         1,501,235            (64,439) 
 Provision for share based payments Reverse unrealised gains on investments Reverse interest paid                                                    10,619 (1,517,036) 310               5,075 
                                                                                                                                                                                                
 Operating cash flows before movements in working capital                                                                                                           (4,872)            (59,364) 
                                                                                                                                                                                                
 Movement in working capital                                                                                                                                                                    
 Decrease in receivables                                                                                                                                              8,713              33,827 
 Increase/ (decrease) in payables                                                                                                                                     6,018             (5,020) 
                                                                                                                                                                                                
                                                                                                                                                                     14,731              28,807 
                                                                                                                                                                                                
 Operating cash flow                                                                                                                                                  9,859            (30,557) 
                                                                                                                                                                                                
 Investment activities                                                                                                                                                                          
 Expenditure on available for sale investments                                                                                                                     (42,462)                   - 
                                                                                                                                                                                                
 Cash flow from investing activities                                                                                                                               (42,462)                   - 
                                                                                                                                                                                                
 Financing Share Capital Bounce-back Loan Interest paid  Net financing                                                                       160,000 (2,500) (310)  157,190  - 50,000 -  50,000 
 Net (decrease)/ increase in cash and cash equivalents                                                                                                              124,587              19,443 
                                                                                                                                                                                                
 Cash and cash equivalents at start of the period                                                                                                                   233,287             157,232 
 Cash and cash equivalents at end of the period                                                                                                                     357,874             176,675 
                                                                                                                                                                                                
 Increase in cash and cash equivalents                                                                                                                              124,587              19,443 

This financial information has been prepared in accordance with IFRS and
International Financial Reporting Interpretations Committee ('IFRIC')
interpretations adopted by the European Union, and with those parts of the
Companies Act 2006 applicable to companies reporting under IFRS, with the
prior period being reported on the same basis.



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