Source - PRN

29 September 2016

Globe Capital Limited
("Globe Capital" or the "Company")

Interim Results for the six month period to 30 June 2016

Chairman’s Statement

Globe Capital Limited is pleased to announce its unaudited interim results for the six month period to 30 June 2016. Operational costs for the period amounted to £85k compared to £56k for the 6 months to June 2015.

At the start of the year, the Company realigned its investment focus towards the retail sector with an emphasis on menswear. Following which, the Company made its maiden investment with a 25% interest in Sterling Craig Ltd, a UK based online retailer for men’s fashion.

The Board continues to review investment opportunities in line with its new investment focus and two potential acquisitions have been identified which we believe will be the start of a platform for future growth.

In January 2016, the Company raised £100k in new equity. The Directors continue to seek further investment capital and hope to report on this in the near future. Meanwhile, operational costs will be kept at a minimum until additional funds are raised.

Further announcements will be made in due course.


David Barnett
Chairman
29 September 2016





Globe Capital Limited
Statement of Comprehensive Income
Six months ended 30 June 2016

6 months
ended
30 June 2016
6 months
ended
30 June 2015
Year ended
31 December
2015
GBP '000 GBP '000 GBP '000
Revenue - - -
Other Income - - -
Gross Profit - - -
Administrative Expenses (85) (56) (129)
Profit / (Loss) from Operations (85) (56) (129)
Finance Costs - - -
Profit / (Loss) Before Taxation (85) (56) (129)
Taxation - - -
Other Comprehensive Loss - - -
Profit / (Loss) for the period (85) (56) (129)
Earning / (Loss) per share
Basic & Diluted (pence) (0.10)p (0.08)p (0.17)p



Globe Capital Limited
Balance Sheet as at 30 June 2016

30 June
2016
30 June
2015
31 December
2015
GBP '000 GBP '000 GBP '000
Non-current assets
Property, plant and equipment - 17 6
Investments 14 - -
Current assets
Prepayments 6 3 -
Cash and cash equivalents 4 11 10
Total Assets 24 31 16
Current Liabilities
Trade and other payables 38 7 65
Financial Liabilities - Borrowings - - -
Total Liabilities 38 7 65
Net Assets (14) 24 (49)
Shareholders' Equity
Share Capital 639 627 627
Reserves (653) (603) (676)
Total Equity (14) 24 (49)



Globe Capital Limited
Statement of Cash Flows
Period ended 30 June 2016

6 months
ended
30 June 2016
6 months
ended
30 June 2015
Year ended
31 December
2015
GBP '000 GBP '000 GBP '000
Profit/(Loss) before tax (85) (56) (129)
Adjustment:
Other income - - -
Depreciation 6 11 22
Operating profit/(loss) (79) (44) (107)
Cash flows from operating activities
(Increase)/decrease in trade and other receivables (6) (3) 1
Increase/(decrease) in trade and other payables (27) (1) 57
Share based payments 20 - -
Cash utilised in operations (92) (48) (49)
Cash flows from investing activities
Bank interest received - - -
Purchase of investments (14) - -
Net cash from investing activities (14) - -
Cash flows from financing activities
Issue of new shares 100 - -
Net cash from financing activities 100 - -
(Decrease)/increase in cash and cash equivalents (6) (48) (49)
Cash and cash equivalents at the beginning of the period 10 59 59
Cash and cash equivalents at end of period 4 11 10
Cash at Bank C/F 4 11 10


The financial information set out above has not been reviewed or audited by the company's auditors.

Basic and diluted profit per share is calculated by dividing the loss for the period of £85,000 (2015: loss £56,000) by the weighted average number of ordinary shares of 87,773,045 (2015: 74,638,800).


The directors of Globe Capital Limited accept responsibility for this announcement.

For further information:

Globe Capital Limited
Christopher Neo, Company Secretary
+44 (0)20 3286 6388
 

CORPORATE ADVISER AND CONTACT DETAILS:

Alexander David Securities Limited
David Scott
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street EC4N 4SA