Webis Holdings PLC Update regarding the Accounts and Trading Update (7848G)
November 27 2020 - 7:04AM
UK Regulatory
TIDMWEB
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 2019
US$000 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 31.05.20 31.05.19 31.05.19
Group Company Group Company
US$000 US$000 US$000 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 Roland Cornish/James Biddle
Tel: +44 (0) 1624 639396 Tel: +44 (0) 20 7628 3396
----------------------------
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