VVV Sports Limited VVV Sports Limited: Interim Results for the six months ended 30 June 2025

VVV Sports

30/09/2025 12:44

VVV Sports Limited (VVV)
 VVV Sports Limited: Interim Results for the six months ended 30 June 2025

30-Sep-2025 / 12:44 GMT/BST
VVV Sports Limited
("VVV” or the “Group”)
Interim Results for the six months ended 30 June 2025
VVV Sports Limited announces its unaudited interim results for the six months ended30 June 2025.
OVERVIEW
The Company’s goals for the six months to 30 June 2025 were to focus from mineral resource exploration to the sports and media investment sector, with an emphasis on fast-growing racket sports such as padel, pickleball, and beach tennis.
This transition was formalised following shareholder approval at the AGM held on 9 June 2025, at which point the Company’s name was officially changed from VVV Resources Limited to VVV Sports Limited. To support this new direction, the Company completed a conditional and underwritten subscription to raise £1,000,000 (gross), which was secured via Campana Investments Ltd. As part of a wider recapitalisation, the Company also issued shares to settle legacy loans owed to loan note holders (“R8 Noteholders”) of R8 Capital Investments plc.
The Company’s current investments comprise 100% of the Mitterberg Copper Project inAustriaand a 51% holding of the Shangri La polymetallic project inWestern Australia. The Mitterberg concessions comprise 198 contiguous licences over some 90 square kilometres located approximately 60 kilometres south ofSalzburg. The Shangri La project comprises 10 contiguous hectares of what appears to be a polymetallic mineral assemblage comprising gold, silver and copper.In the period as part of the R8 Noteholders debt for equity swap, the arrangement gained the Company an investment in R8 Capital Investments Plc.
Several board changes occurred to align governance with the new strategy, including the resignation of David Ajemian and the appointment of Jonathan Rowland as Executive Chairman and Richard Morecroft as Non-Executive Director.
The Board remains confident that the private and pre-IPO markets remain significantly under-served and as such significant opportunities exist for the Company going forward.
Operationally, the Company intends to divest its legacy resource assets and focus exclusively on sports-related opportunities going forward. The financial position at 31 December 2024 showed minimal cash reserves (£5,000), though this was significantly improved post-period following the capital raise, bringing cash resources to approximately£826,000.
We would like to thank all our shareholders for their continued support and look forward to updating you on further news in due course.
Jonathan David Rowland
Executive Chairman
FINANCE REVIEW
The loss for the period to 30 June 2025 was£164,000(30 June 2024: £191,000and 31 December 2024:£427,000loss) which mainly related to share-based payments, regulatory costs and other corporate overheads. The total revenue for the period was nil.At 30 June 2025, the Company had cash balances of£826,000(30 June 2024: £9,000and 31 December 2024: £5,000).
The interim accounts to 30 June 2025 have not been reviewed by the Company’s auditors.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
The Company
Jonathan Rowland
+44 (0)
AQSE Growth Market Corporate Adviser:
Peterhouse Capital Limited
+44 (0) 207 469 0936
Unaudited Condensed Group Statement of Comprehensive Income
for the six months ended 30 June 2024
6 months to
6 months to
Year ended
30 June
2025
30 June
2024
31 December
2024
Unaudited
Unaudited
Audited
Notes
£’000
£’000
£’000
Continuing operations
Revenue
Investment income
-
-
-
Total gains on AFS investments
-
-
-
Administrative costs
(153)
(91)
(191)
Expenses settled by issuance of shares
-
(100)
(100)
Expense for Warrants
(11)
-
-
Operating (loss)
(164)
(191)
(291)
Finance costs
-
-
-
(Loss) before tax
(164)
(191)
(291)
Taxation
-
-
-
(Loss) for the period
(164)
(191)
(291)
Other comprehensive income
Translation exchange (loss)/gain
-
-
-
Impairment of investment in joint venture
-
-
(136)
Total Comprehensive Income for the year attributable to the owners of the parent company
(164)
(191)
(427)
(Loss) per share:
Basic and diluted (loss) per share (pence)
2
(1.59)
(6.02)
(3.89)
Unaudited Condensed Group Statement of Financial Position
as at 30 June 2025
Group
Group
Group
30 June
2025
30 June
2024
31 December
2024
Unaudited
Unaudited
Audited
Notes
£’000
£’000
£’000
ASSETS
Non-current assets
Intangible assets
350
350
350
Investments accounted for using the equity method
1,902
136
-
2,252
486
486
Current assets
Trade and other receivables
18
12
18
Cash and cash equivalents
827
9
5
845
21
23
Total assets
3098
507
373
LIABILITIES
Current liabilities
Trade and other payables
(2,216)
(141)
(247)
Total current liabilities
(2,216)
(141)
(247)
Total liabilities
(2,216)
(141)
(247)
Net Assets
881
366
126
EQUITY
Equity attributable to equity holders of the parent
Share capital
-
-
-
Share premium account
2,473
1,565
1,565
Share based payment reserve
76
25
65
Retained earnings
(1,668)
(1,224)
(1,504)
Total equity
881
366
126
Unaudited Condensed Group Statement of Cash Flows
for the six months ended 30 June 2025
Consolidated
Consolidated
Consolidated
6 months to
6 months to
Year to
30 June
2025
30 June
2024
31 December 2024
Unaudited
Unaudited
Audited
£’000
£’000
£’000
Cash flows from operating activities
Operating (loss)
(164)
(191)
(291)
Adjustments for:
Share based payment expense
11
-
-
Increase in investments
(1,902)
-
-
Issue of shares to settle liabilities
910
100
100
Decrease/(increase) in trade and other receivables
-
14
7)
Increase/(decrease) in trade and other payables
1,967
50
153
Net cash used in operating activities
822
(27)
(31)
Investing activities
Finance Costs
-
-
-
Investment in intangible assets
-
-
-
Net cash outflow in investing activities
-
-
-
Financing activities
Issue of share capital
-
-
-
Net cash from financing activities
-
-
-
Net change in cash and cash equivalents
822
(27)
(31)
Cash and cash equivalents at beginning of period
5
36
36
Cash and cash equivalents at end of period
827
9
5
Notes to the condensed interim financial statements
1.General Information
Basis of preparation and accounting
The financial information has been prepared on the historical cost basis. The Company’s business activities, together with the factors likely to affect its future development, performance and position are set out in the Chairman’s Statement. This statement also includes a summary of the Company’s financial position and its cash flows.
These condensed interimfinancial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union with the exception of International Accounting Standard (‘IAS’) 34 – Interim Financial Reporting. Accordingly, the interim financial statements do not include all of the information or disclosures required in the annual financial statements and should be read in conjunction with the Company’s 2024 annual financial statements.
2.Earnings per share
The calculation of the basic earnings per share is based on the earnings attributable to ordinary shareholders divided by the weighted average number of shares in issue during the year. The calculation of diluted earnings per share is based on the basic earnings per share, adjusted to allow for the issue of shares and the post-tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.
Reconciliations of the earnings and weighted average number of shares used are set out below.
Six months to
Six months to
Year ended
30 June
2025
30 June
2024
31 December
2024
(Unaudited)
(Unaudited)
(Audited)
(£’000)
(£’000)
(£’000)
Net loss attributable to equity holders of the company
(164)
(191)
(291)
Number of shares Weighted average number of ordinary Shares for the purposes of basic loss per share
10,291,329
3,174,735
7,476,311
Basic and diluted loss per share (pence)
(1.59)
(6.02)
(3.89)
3.Events after the reporting date
The Company formalised its change of name fromVVV Resources LimitedtoVVV Sports Limited, which took effect on27 August 2025. This reflected the strategic shift approved earlier in the year toward sports and media investments. The Company’s ticker (VVV), SEDOL, and ISIN remained unchanged, and a new corporate website was launched atwww.vvvsports.pro. In a further governance update,Benjamin Hill, Non-Executive Director, resigned from the Board with effect from4 September 2025. There were no other material events after the reporting date that require disclosure or adjustment to the interim financial statements as at 30 June 2025.

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 The issuer is solely responsible for the content of this announcement.

ISIN:
VGG9470B1004
Category Code:
MSCM
TIDM:
VVV
LEI Code:
213800OEUSH43X859D83
Sequence No.:
403685
EQS News ID:
2206056



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