REG - Webis Holdings PLC - Delay in publication of the Annual Report
29/11/2021 07:00
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RNS Number : 7991T Webis Holdings PLC 29 November 2021
7.00am 29 November 2021
Webis Holdings plc
("Webis" or the "Company")
Delay in publication of the Annual Report and Consolidated Financial
Statements for the year ended 31 May 2021
The board of Webis hereby notifies shareholders that the completion of the
audit of the accounts for the Company, for the year ended 31 May 2021 (the
"Accounts") are delayed due to a Covid-19 related issue. Unfortunately, the
completion of an annual report from Deloitte USA reviewing the activities of
AmTote - the third-party wagering hub provider to Watch&Wager LLC - is
delayed as a result of the pandemic. Our auditors, KPMG, are obliged under
standard IFRS audit procedures to use this report to provide the verification
required to complete the audit by 30 November 2021. The Board is confident
that the verification is merely a matter of procedure only and will occasion
no change to the Accounts which are anticipated to contain an unqualified
audit report. Accordingly, the Company has agreed with AIM an extension to 28
February 2022 for the publication deadline of its Accounts. Every effort is
being made to complete the Accounts as soon as possible and they will be
published via RNS thereafter.
Meanwhile, the board of Webis provides the following trading update for the
year-ended 31 May 2021 which anticipates a US$ 1.1 million uplift in
profitability over the previous year: -
Consolidated Statement of Comprehensive Income
For the year ended 31 May 2021
2020
Unaudited US$000
2021
US$000
Amounts wagered 132,149 105,325
Revenue 55,668 43,436
Cost of sales (49,757) (38,820)
Betting duty paid (114) (83)
Gross profit 5,797 4,533
Operating costs (5,314) (4,908)
Impairment movement on trade receivables 7 (18)
Re-organisational and other costs - (28)
Other gains / (losses) 2 (29)
Government grant 272 48
Other income 185 212
Operating profit / (loss) 949 (190)
Finance costs (125) (94)
Profit / (loss) before income tax 824 (284)
Income tax expense - -
Profit / (loss) for the year 824 (284)
Other comprehensive income:
Items that may be subsequently reclassified to profit or loss:
Currency translation differences on disposal of foreign subsidiaries - -
Other comprehensive profit / (loss) for the year - -
Total comprehensive profit / (loss) for the year 824 (284)
Basic earnings per share for profit / (loss) attributable to the equity 0.21 (0.07)
holders of the Company during the year (cents)
Diluted earnings per share for profit / (loss) attributable to the equity 0.20 (0.07)
holders of the Company during the year (cents)
Statements of Financial Position
As at 31 May 2021
Unaudited 31.05.20
31.05.21 Unaudited 31.05.20 Company
Group 31.05.21 Group US$000
US$000 Company US$000
US$000
Non-current assets
Intangible assets 12 - 30 -
Property, equipment and motor vehicles 380 6 415 7
Investments - 3 - 2
Bonds and deposits 101 - 101 -
Total non-current assets 493 9 546 9
Current assets
Bonds and deposits 882 - 882 -
Trade and other receivables 1,896 150 1,256 463
Cash, cash equivalents and restricted cash 5,083 2,142 3,969 1,780
Total current assets 7,861 2,292 6,107 2,243
Total assets 8,354 2,301 6,653 2,252
Equity
Called up share capital 6,334 6,334 6,334 6,334
Share option reserve 42 42 42 42
Retained losses (4,684) (5,516) (5,508) (5,526)
Total equity 1,692 860 868 850
Current liabilities
Trade and other payables 4,995 91 3,749 52
Deferred income - - 272 -
Loans, borrowings and lease liabilities 572 500 97 -
Total current liabilities 5,567 591 4,118 52
Non-current liabilities
Loans, borrowings and lease liabilities 1,095 850 1,667 1,350
Total non-current liabilities 1,095 850 1,667 1,350
Total liabilities 6,662 1,441 5,785 1,402
Total equity and liabilities 8,354 2,301 6,653 2,252
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance
with the Company's obligations under Article 17 of MAR.
For further information:
Webis Holdings plc Tel: 01624
639396
Denham Eke
Beaumont Cornish Limited Tel: 020 7628 3396
Roland Cornish/James Biddle
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