Derriston Capital reports annual loss, reflects costs of formation, LSE listing
Source - SMW
Derriston Capital announced a loss of £156,009 for the period ended 31 December 2017, reflecting the costs of the formation of the company and its admission to the London Stock Exchange.
The Company held cash reserves at the period end of £2.17m with no debt financing.
Harry Hyman, Chairman of Derriston said: 'Derriston considered a large number of deals during 2017 but none of them reached the standards we require. As a result of this, we changed and extended the mandate to consider investments across all technology and high growth sectors.'
'During the year administrative cost totalled £168,185, over £132,000 of which were costs of the flotation, and majority of the balance of costs through the year being stock exchange listing fees. Having raised £2.33m (gross) in December 2016, the Company has net cash of £2.16m as at 31 December 2017.'
Derriston floated on the London Stock Exchange on 29 December 2016. The Company was created to undertake an acquisition within the medical technology industry.
At 9:44am: (LON:DERR) Derriston Capital Plc Ord 2.5p share price was 0p at 11p