Pacific Global Holdings Plc - Half-year Report
("Pacific Global" or the "Company")
UNAUDITED HALF-YEARLY RESULTS FOR
THE SIX MONTHS ENDED
The Company announces its half-yearly result for the six months to
CHAIRMAN’S STATEMENT
In his statement to the accounts of the Company for the year to
The period under review has seen changes in the composition of the Board and in the management of and shareholdings in the Company. It has also seen the Company, together with
Board Changes
The appointment of
At the time of his appointment,
Outlook
The Board looks forward to the coming period with enthusiasm and to updating shareholders with the Company’s developments.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Pacific Global Holdings PlcEdgar +44 (0) 20 7580 HernandezPresident and Chief Executive 7576www.pacificglobalholdingsplc.com Officer Cairn Financial Advisers LLPNominated +44 20 7213 0880 www.cairnfin.com AdviserJo Turner /Sandy Jamieson Peterhouse Capital LimitedBrokerCharles +44 20 7469 0930 www.peterhousecap.com Goodfellow
UNAUDITED INCOME STATEMENT AND STATEMENT OF COMPREHENSIVE INCOME 6 MONTHS ENDED31 JULY 2024 Notes Unaudited Unaudited Audited 31/07/2024 31/07/2023 31/01/2024 Continuing operations £ £ £ Investment Income 527 - 397 Total Income 527 - 397 Administration expenses (59,554) (87,906) (86,885) Foreign currency exchange gain/ loss (3,406) (22,431) (15,961) Operating loss and loss before taxation (62,433) (110,337) (102,449) Taxation - - - Loss for the period (62,433) (110,337) (102,449) Total Comprehensive loss for the period (62,433) (110,337) (102,449) Earnings per share: Basic and diluted loss per share 3 (0.0009) (0.0017) (0.00149)
There are no items of other comprehensive income.
UNAUDITED STATEMENT OF FINANCIAL POSITION AS AT31 JULY 2024 Unaudited Unaudited Audited 31/07/2024 31/07/2023 31/01/2024 £ £ £ Current assets Investments held for trading 1,244,884 1,128,343 1,248,290 Trade and Other receivables - 5,500 5,751 Cash 25,377 147,931 74,520 1,270,261 1,281,774 1,328,561 Total Assets 1,270,261 1,281,774 1,328,561 Current Liabilities Trade and other payables (191,609) (148,576) (187,475) Net Assets 1,078,652 1,133,198 1,141,086 Equity Issued Share Capital 685,000 685,000 685,000 Share Premium 2,471,530 2,471,530 2,471,530 Retained Earnings (2,077,878) (2,023,332) (2,015,444) Total Equity 1,078,652 1,133,198 1,141,086
UNAUDITED CASH FLOW STATEMENT FOR THE 6 MONTHS ENDED31 JULY 2024 Unaudited Unaudited Audited 31/07/2024 31/07/2023 31/01/2024 2024 2023 2024 £ £ £ Cash flows from operating activities (Loss) for the year before tax (62,433) (110,337) (102,449) Foreign Currency exchange gain/ loss 3,406 22,432 15,961 Decrease/ (increase) in receivables 5,750 10,750 10,500 (Decrease)/ increase in payables 4,134 (10,708) 28,190 Net cash outflow from operating activities (49,143) (87,863) (47,798) Cash flows from investing activities Fair value revaluation of Investment - - (113,476) Net cash outflow from investing activities - - (113,476) Cashflows from financing activities Gross - 155,000 155,000 proceeds from issue of shares Share Issue costs - (3,100) (3,100) Net cashflows from financing activities - 151,900 151,900 Net decrease in cash and cash equivalents (49,143) 64,037 (9,374) during the year Cash at the beginning of year 74,520 83,894 83,894 Cash and cash equivalents at the end of the 25,377 147,931 74,520 year
UNAUDITED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY FOR THE PERIOD ENDED31 JULY 2024 Share capital Share premium Retained earnings Total £ £ £ £ Audited Changes in Equity for the period 654,000 2,350,630 (1,912,996) 1,091,634 ended31 January 2023 Comprehensive loss for (102,449) (102,449) the period Share Issues 31,000 124,000 155,000 Share issue cost (3,100) (3,100) Transactions with owners recognised directly in 31,000 120,900 (102,449) 49,451 equity Audited Changes in Equity for the period 685,000 2,471,530 (2,015,445) 1,141,085 ended31 January 2024 Comprehensive loss for (62,433) (62,433) the period Transactions with owners recognised directly in equity Audited Changes in Equity for the period 685,000 2,471,530 (2,077,878) 1,078,652 ended 31 July 2024
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 6 MONTHS ENDED
1. General Information
The principal activity of the Company is that of an investing company pursuing a strategy that focuses on making investments in and assisting companies which exhibit the potential to generate returns of many multiples through capital appreciation. Typically, Pacific Global invests in small companies where there are clear catalysts for value appreciation and the companies are operating in sectors exhibiting long term growth linked to demographic change.
1. Accounting policies
The principal accounting policies have all been applied consistently throughout the period covered and have not changed since being reported on in the financial statements for the year ended
Basis of preparation
The interim financial information set out above does not constitute statutory accounts within the meaning of the Companies Act 2006. It has been prepared on a going concern basis in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS) as adopted by the
The financial statements have been prepared under the historical cost convention.
The interim financial information for the six months ended
1. Loss per share
The basic earnings per share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is computed using the same weighted average number of shares during the period adjusted for the dilutive effect of share warrants and convertible loans
outstanding during the period.
Unaudited Unaudited Audited
31/07/2024 31/07/2023 31/01/2024
Loss from continuing operations attributable to (62,433) (110,337) (102,449)
equity holders of the company
Weighted average number of ordinary shares in 68,500,000 65,433,973 65,400,000
issue
Pence Pence Pence
Basic and fully diluted loss per share from (0.0009) (0.0017) (0.0016)
continuing operations (Pence)
1. Copies of the half-yearly report
Copies of the interim results are available at the Group´s website at: www.pacificglobalholdingsplc.com .
1. Subsequent events after the reporting period
On 31st
On 2nd
Note:
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
