31 May 2017
INDIGO HOLDINGS PLC
(“Indigo” or the “Company”)
Unaudited interim report for the six months to 31 December 2016
Indigo Holdings plc, the Middle East focused Investment Company that provides investors with exposure to early stage businesses, is pleased to announce the Company’s first interim results since its successful flotation on the NEX Exchange Growth Market in February 2017, having raised a total of £818,468 (after expenses), in connection with Admission.
As at 31 December 2016, the Company had cash of £905,750 and trade and other payables of £923,735. The majority of the trade and other payables will show as share capital in the results to 30 June 2017, as the allotment and issue of shares, pursuant to the flotation on the NEX Exchange Growth Market, took place in January 2017.
Post listing, the Company made three acquisitions as below:
As announced in April 2017, Indigo invested IRR 10,000,000,000 (Ten billion Rial), approximately £200,000, in Iranian Fast Moving Consumer Goods Ltd (“FMCG”), the recently established online retail delivery business of Yaran Daryan, the Iranian convenience store chain. Indigo has acquired a 15% equity stake in FMCG at a post-money valuation of approximately £1,330,000, with Yaran Daryan owning a 60% equity stake in FMCG.
As announced on 8 March 2017, Indigo invested €375,587 (approximately £320,000) by way of an interest free loan into Net Tejarat Ahoura Company, an Iranian registered company (“Sheypoor”), a leading Iranian online classifieds marketplace, to acquire a 1.09% stake in Sheypoor. Indigo invested in Sheypoor’s Series D Fundraising. That round of funding valued Sheypoor at approximately €34,000,000 (approximately £29,000,000).
In February 2017, Indigo also announced it had acquired a 5% stake in the Iranian car ride-sharing app, Carvanro, after investing €176,800 in its Series A fundraising round.
Carvanro is a car ride-sharing marketplace aggregator, which connects drivers and passengers embarking on the same car journeys. It provides a flexible and transparent platform for passengers, whilst at the same time providing a reliable source of payment for drivers who wish to share their journeys in order to reduce costs. The app launched in mid - 2016 and month-on-month figures for website traffic, registered users, and completed rides are all showing strong growth trends.
We remain very optimistic about the strategy of the company and the pipeline of deals we see ahead.
The financial statements have not been reviewed by the Company auditors.
The Directors of the Company accept responsibility for the content of this announcement.
Indigo Holdings plc
|+44 (0) 20 7493 0412|
|NEX Exchange Corporate Adviser
Peterhouse Corporate Finance Limited
Guy Miller and Mark Anwyl
|+44 (0) 20 7469 0930|
Yellow Jersey PR
Charles Goodwin/Joe Burgess
|+44 (0) 7747 788 221|
|STATEMENT OF COMPREHENSIVE INCOME|
|For the five months ended 31 December 2016|
|5 months to 31 December 2016 Unaudited|
|Impairment of receivable and loss on disposal of available for sale investment||0|
|Loss before taxation||-10,500|
|Finance income – interest receivable||12,002.35|
|exchange gain and loss||-11,989.13|
|Loss for the year attributable to the equity shareholders of the parent||-10,487|
|Other comprehensive income|
|Items that may be subsequently reclassified to profit or loss|
|Prior year reversal of unrealised changes in value of available for sale financial asset||0|
|Unrealised gain and loss on exchnage||0|
|Other comprehensive income for the year, net of tax||0|
|Total comprehensive income for the period/year attributable to the equity shareholders of the parent||-10,487|
|STATEMENT OF FINANCIAL POSITION|
|As at 31 December 2016|
|31 December 2016|
|Trade and other receivables||1|
|Cash and cash equivalents||905,749|
|Total current assets||905,750|
|Trade and other payables||-923,735|
|Total current liabilities||-923,735|
|EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY|