REG - Webis Holdings PLC - Update regarding the Accounts and Trading Update

Webis HoldingsAnnouncement

27/11/2020 12:05

RNS Number : 7848G
  
Webis Holdings PLC
  
27 November 2020
  
 

27 November 2020
Webis Holdings plc
("Webis" or the "Company")
Delay in publication of the Annual Report and Consolidated Financial Statements for the year ended 31 May 2020 and Trading Update
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 2020 (the "Accounts") are delayed due to a Covid-19 related issue.  Unfortunately, one of the Company's US bankers is suffering from a considerable backlog as a result of the pandemic and is unlikely to be able to provide the verification required to complete the audit by 30 November 2020. 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 2021 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 unaudited trading update for the year-ended 31 May 2020: -
 
 
Consolidated Statement of Comprehensive Income
For the year ended 31 May 2020








 
2020
US$000


 
2019
US$000





Amounts wagered


105,325


136,353


 


















Turnover


43,436


47,259




Cost of sales


(38,820) 


(42,625)




Betting duty paid


(83)


(146)




Gross profit


4,533


4,488




Operating costs


(4,908)


(5,277)




Impairment loss on trade receivables


(18)


(67)




Re-organisational and other costs


(28)


(54)




Other losses


(29)


(166)




Government grant


48


-




Other income


212


187




Operating loss


(190)


(889)




Finance costs


(94)


(41)




Loss before income tax


(284)


(930)


 




Income tax expense


-


-




Loss for the year


(284)


(930)


 




 
Other comprehensive income:












Items that may be subsequently reclassified to profit or loss:












Currency translation differences on disposal of foreign subsidiaries


-


-




Other comprehensive income for the year


-


-




Total comprehensive income for the year


(284)


(930)


 




Basic earnings per share for loss attributable to the equity holders of the Company during the year (cents)


(0.07)


(0.24)




Diluted earnings per share for loss attributable to the equity holders of the Company during the year (cents)


(0.07)


(0.23)










 
Statements of Financial Position
As at 31 May 2020








31.05.20
Group
US$000


31.05.20
Company
US$000


 
31.05.19
Group
US$000


31.05.19
Company
US$000





Non-current assets




















Intangible assets


30


-


104


7 




Property, equipment and motor vehicles


415


7


26


10




Investments


-


2


-


3 




Bonds and deposits


101


-


101


- 




Total non-current assets 


546


9


231


20 




Current assets




















Bonds and deposits


882


-


882


- 




Trade and other receivables


1,256


463


1,191


427




Cash and cash equivalents


3,969


1,780


2,594


1,416




Total current assets 


6,107


2,243


4,667


1,843




Total assets


6,653


2,252


4,898


1,863




 
Equity




















Called up share capital


6,334


6,334


6,334


6,334




Share option reserve


42


42


42


42




Retained losses


(5,508)


(5,526)


(5,224)


(5,412)




Total equity


868


850


1,152


964 




Current liabilities




















Trade and other payables


3,749


52


2,896


49




Deferred income


272


-


-


-




Loans, borrowings and lease liabilities


97


-


-


-




Total current liabilities


4,118


52


2,896


49




Non-current liabilities




















Loans, borrowings and lease liabilities


1,667


1,350


850


850




Total non-current liabilities


1,667


1,350


850


850




Total liabilities


5,785


1,402


3,746


899




Total equity and liabilities


6,653


2,252


4,898


1,863



 
 
This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
 
For further information: - 



Webis Holdings plc


Beaumont Cornish Limited




Denham Eke
Tel: +44 (0) 1624 639396


Roland Cornish/James Biddle
Tel: +44 (0) 20 7628 3396



 
 

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