29 September 2022
EDENVILLE ENERGY PLC
("Edenville", "Company" or the "Group")
Interim Results for the six months to 30 June 2022
Edenville Energy Plc (AIM: EDL) announces its unaudited interim results for the six months ended 30 June 2022.
CEO's report
Operational overview
The six month period to 30 June 2022 was one of transition for the Company and prior to the significant management and operational changes that took place post period end, as further detailed below.
On 3 February 2022 the Company's subsidiary Edenville International (Tanzania) Limited ("EITL") entered into a contract with Nextgen Coalmine Limited ("Nextgen") for the operation of the Company's Rukwa Coal Project ("Rukwa" or the "Project") in Tanzania. The agreement with Nextgen was subsequently terminated on 31 May 2022 following a lack of progress by Nextgen, allowing the Company to resume full control of the Project site and seek alternative arrangements for the operation of Rukwa in light of the macro changes that made the economics of the Project significantly more attractive.
Following a period of consultation with several key shareholders, a number of significant changes took place post period end. CEO Alistair Muir, Non-executive Chairman Jeff Malaihollo and Non-executive director Franco Caselli all resigned from the board and were replaced by Noel Lyons as CEO, Paul Ryan as Executive Director and Andre Hope as a Non-executive Director. Nick von Schirnding assumed the role of Non-Executive Chairman. In addition, there were several personnel changes within the Tanzania based team, leading to a more coordinated and dedicated team fully focused on stabilising output and striving to grow the monthly output.
Following their appointment, the newly appointed executive team signed an initial 12-month agreement (the "Agreement") with Brahma Energies Limited ("Brahma") on 16 August 2022, commencing immediately, to secure production and sales of a minimum of 4,000 tonnes of washed coal per month at the Company's Rukwa Project, with the potential to increase to a minimum 6,000 tonnes thereafter. Brahma are a local mine operator and commercial and logistics specialist having up to 70 transport vehicles on the roads of Tanzania. Their team is experienced in all aspects of operations, mine management and coal commercial sales. One of the significant attractions of Brahma to Edenville was an offtake which will enable Edenville to sell any of its washed coal produced to parties introduced by Brahma, as required.
Since the signing of the Agreement, Brahma have assumed full day-to-day operational management and control of the Rukwa mine, including covering all operational costs, with ultimate oversight continuing to be provided by Edenville. Given local demand, sales are currently expected to take place to customers in Tanzania and adjoining neighboring countries.
The revenue share arrangements under the Agreement give Edenville US$10 per tonne of washed coal sold at a minimum price of US$35 per tonne, plus 60% of any sales revenue above US$35 per tonne of washed coal. The global thermal coal price has reached new highs since entering into the Agreement and the Company is witnessing a knock-on positive effect on the domestic thermal coal price in Tanzania. The previously reported 'at gate' sales price range of US$35-50 per tonne for washed coal from Rukwa therefore appears robust. Once consistent production is established and Rukwa becomes a reliable source of coal for its clients, the Company anticipates its position in offtake negotiations is likely to be strengthened further.
Following extensive servicing and repairs on the main machinery and wash plant at the Rukwa site, and the purchase of two additional trucks, final works are expected to be completed shortly, with production recommencing sufficient to achieve up to 4000 tonnes by the end of October 2022. The targeted production and sales increase to 6,000 tonnes per month of washed coal is expected to take place after the rainy season ends in March/April 2023.
Edenville will continue to manage the Rukwa project and fund its corporate operational costs from its existing cash resources. Edenville, at its sole discretion, can also deploy additional capital to expedite production ramp up; any such capital deployed is to be repaid to Edenville before any profit share is paid.
Edenville and Brahma continue to work closely to ensure maximum efficiency and whilst Brahma have only been on site for a limited time, we are encouraged by their performance. We look forward to reporting on production levels and offtake contracts in due course.
Financial results
For the six month period ended 30 June 2022 the Company had revenue of £56,146 (H1 2021: £27,752).
The Group made a total comprehensive loss for the period of £196,429 (H1 2021 loss of £513,497), which included a gain of £624,211 arising from the translation of the Tanzanian subsidiary accounts from US Dollars to Sterling.
The net assets at 30 June 2022 amounted to £6,926,616 (30 June 2021 £7,842,563). In addition, post period end, the Company reached agreement for certain costs, amounting to £180,000, to be recouped following an earlier aborted acquisition process, which will strengthen the Group's working capital position pending revenue from coal sales in the coming months.
Noel Lyons
Chief Executive Officer
29 September 2022
For further information please contact:
Edenville Energy Plc | Via IFC Advisory |
Nick Von Schirnding - Chairman Noel Lyons - CEO | |
| |
| |
Strand Hanson Limited | +44 (0) 20 7409 3494 |
(Financial and Nominated Adviser) James Harris Rory Murphy | |
| |
Tavira Securities Limited | +44 (0) 20 7100 5100 |
(Broker) | |
Oliver Stansfield | |
Jonathan Evans | |
| |
IFC Advisory Limited | +44 (0) 20 3934 6630 |
(Financial PR and IR) | |
Tim Metcalfe | |
Florence Chandler | |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
|
| Six months ended 30 June 22 | Six months ended 30 June 21 | Year ended 31 Dec 21 |
| | Unaudited | Unaudited As restated
| Audited |
| Note | £ | £ | £ |
Revenue | | 56,146 | 27,752 | 105,228 |
Cost of sales | | (452,484) | (280,320) | (684,848) |
| |
|
|
|
Gross loss | | (396,338) | (252,568) | (579,620) |
Administrative expenses | | (423,627) | (332,209) | (875,564) |
Share based payments | | - | - | - |
| |
|
|
|
Group operating loss | | (819,965) | (584,777) | (1,455,184) |
Finance income | | - | 12 | 701 |
Finance costs | | (675) | (2589) | (5,842) |
| |
|
|
|
Loss on operations before taxation | | (820,640) | (587,354) | (1,460,325) |
| | | | |
Taxation | | - | - | (526) |
| |
|
|
|
Loss for the period after taxation | | (820,640) | (587,354) | (1,460,851) |
Other comprehensive income/(loss): | | | | |
Gain on translation of overseas subsidiary | | 624,211 | 73,857 | 87,013 |
| |
|
|
|
Total comprehensive loss for the period | |
(196,429) |
(513,497) |
(1,373,838 |
| |
|
|
|
Attributable to: | | | | |
Equity holders of the Company | | (195,155) | (512,683) | (1,371,573) |
Non-controlling interest | | (1,274) | (814) | (2,265) |
| |
|
|
|
| | (196,429) | (513,497) | (1,373,838) |
| |
|
|
|
Loss per share |
| | | |
- basic and diluted (pence) | 2 | (3.79) | (4.43) | (8.04) |
| |
|
|
|
The income for the period arises from the Group's continuing operations.
CONSOLIDATED statement of financial position
as at 30 June 2022
|
| As at 30 June 22 | As at 30 June 21 | As at 31 Dec 21 |
|
| Unaudited | Unaudited | Audited |
|
|
|
|
|
| Note | £ | £ | £ |
Non-current assets | | | | |
Property, plant and equipment | 4 | 5,906,709 | 5,466,165 | 5,451,921 |
Intangible assets | 5 | 349,607 | 307,080 | 315,002 |
| |
|
|
|
| | 6,256,316 | 5,773,245 | 5,766,923 |
Current assets | | | | |
Inventories | | 180,124 | 248,864 | 142,721 |
Trade and other receivables | | 353,457 | 429,672 | 415,479 |
Cash and cash equivalents | | 477,438 | 1,873,072 | 1,229,801 |
| |
|
|
|
| | 1,011,019 | 2,551,608 | 1,788,001 |
Current liabilities | | | | |
Trade and other payables | | (308,174) | (419,825) | (389,264) |
Borrowings | | (5,206) | (16,094) | (18,258) |
| |
|
|
|
| | (313,380) | (435,919) | (407,522) |
| | |
|
|
Current assets less current liabilities | | 697,639 | 2,115,689 | 1,380,479 |
| |
|
|
|
Total assets less current liabilities | | 6,953,955 | 7,888,934 | 7,147,402 |
| | | | |
Non - current liabilities | | | | |
Borrowings | | - | (23,517) | - |
Environmental rehabilitation liability | | (27,339) | (22,854) | (24,632) |
| |
|
|
|
| | 6,926,616 | 7,842,563 | 7,122,770 |
| |
|
|
|
Capital and reserves | | | | |
Called-up share capital | 6 | 4,176,601 | 4,176,601 | 4,176,601 |
Share premium account | | 22,254,317 | 22,373,442 | 22,254,317 |
Share based payment reserve | | 346,774 | 341,522 | 453,614 |
Foreign currency translation reserve | | 1,205,354 | 420,273 | 581,143 |
Retained earnings | | (21,038,103) | (19,453,531) | (20,325,577) |
| |
|
|
|
Issued capital and reserves attributable to owners of the parent company | | 6,944,943 | 7,858,307 | 7,140,098 |
Non-controlling interest | | (18,327) | (15,744) | (17,328) |
| |
|
|
|
Total equity | | 6,926,616 | 7,842,563 | 7,122,770 |
| |
|
|
|
CONSOLIDATED statement of changes in equity
| --------------------------------------------------Equity Interests--------------------------------------- |
|
| |||||
| Share Capital | Share Premium | Retained Earnings Account | Share Option Reserve | Foreign Currency Translation Reserve | Total | Non-controlling interest | Total |
| £ | £ | £ | £ | £ | £ | £ | £ |
At 1 January 2022 | 4,176,601 | 22,254,317 | (20,325,577) | 453,614 | 581,143 | 7,140,098 | (17,328) | 7,122,770 |
| | | | | | | | |
Comprehensive Income for the year | | | | | | | | |
Foreign currency translation | - | - | - | - | 624,211 | 624,211 | - | 624,211 |
Loss for the year | - | - | (819,366) | - | - | (819,366) | (1,274) | (820,640) |
Total comprehensive income for the year | - | - | (819,366) | - | 624,211 | (195,155) | (1,274) | (196,274) |
| | | | | | | | |
Transactions with owners | | | | | | | | |
Lapsed share options | - | - | 106,840 | (106,840) | - | - | - | - |
Total transactions with owners | - | - | 106,840 | (106,840) | - | - | - | - |
Non- controlling interest share of goodwill |
- |
- |
- |
- |
- |
- |
275 |
275 |
| | | | | | | | |
At 30 June 2022 | 4,176,601 | 22,254,317 | (21,038,103) | 346,774 | 1,205,354 | 6,944,943 | (18,327) | 6,926,616 |
| | | | | | | | |
| | | | | | | | |
| --------------------------------------------------Equity Interests--------------------------------------- |
|
| |||||
| Share Capital | Share Premium | Retained Earnings Account | Share Option Reserve | Foreign Currency Translation Reserve | Total | Non-controlling interest | Total |
| £ | £ | £ | £ | £ | £ | £ | £ |
At 1 January 2021 | 4,041,601 | 19,390,849 | (18,866,991) | 301,174 | 494,130 | 5,360,763 | (14,902) | 5,345,861 |
| | | | | | | | |
Comprehensive Income for the year | | | | | | | | |
Foreign currency translation | - | - | - | - | (73,857) | (73,857) | (28) | (73,885) |
Loss for the year | - | - | (586,540) | - | - | (586,540) | (814) | (587,354) |
Total comprehensive income for the year | - | - | (586,540) | - | (73,857) | (660,397) | (842) | (661,239) |
| | | | | | | | |
Transactions with owners | | | | | | | | |
Issued share capital | 135,000 | 3,240,000 | - | - | - | 3,375,000 | - | 3,375,000 |
Share issue costs | - | (217,059) | - | - | - | (217,059) | - | (217,059) |
Share based payment | - | (40,348) | - | 40,348 | - | - | - | - |
| | | |
|
| |
| |
Total transactions with owners | 135,000 | 2,982,593 | - | 40,348 | - | 3,157,941 | - | 3,157,941 |
| | | | | | | | |
At 30 June 2021 | 4,176,601 | 22,373,442 | (19,453,531) | 341,522 | 420,273 | 7,858,307 | (15,744) | 7,842,563 |
| | | | | | | | |
| | | | | | | | |
| --------------------------------------------------Equity Interests--------------------------------------- |
|
| |||||
| Share Capital | Share Premium | Retained Earnings Account | Share Option Reserve | Foreign Currency Translation Reserve | Total | Non-controlling interest | Total |
| £ | £ | £ | £ | £ | £ | £ | £ |
At 1 January 2021 | 4,041,601 | 19,390,849 | (18,866,991) | 301,174 | 494,130 | 5,360,763 | (14,902) | 5,345,861 |
| | | | | | | | |
Comprehensive Income for the year | | | | | | | | |
Foreign currency translation | - | - | - | - | 87,013 | 87,013 | - | 87,013 |
Loss for the year | - | - | (1,458,586) | - | - | (1,458,586) | (2,265) | (1,460,851) |
Total comprehensive income for the year | - | - | (1,458,586) | - | 87,013 | (1,371,573) | (2,265) | (1,373,838) |
| | | | | | | | |
Transactions with owners | | | | | | | | |
Issue of share capital | 135,000 | 3,240,000 | - | - | - | 3,375,000 | - | 3,375,000 |
Share issue costs | - | (224,092) | - | - | - | (224,092) | - | (224,092) |
Share options/warrants charge | - | (152,440) |
| 152,440 |
| - |
| |
Total transactions with owners | 135,000 | 2,863,468 | - | 152,440 | - | 3,150,908 | - | 3,150,908 |
Non- controlling interest share of goodwill |
- |
- |
- |
- |
- |
- |
(161) |
(161) |
| | | | | | | | |
At 31 December 2021 | 4,176,601 | 22,254,317 | (20,325,577) | 453,614 | 581,143 | 7,140,098 | (17,328) | 7,122,770 |
| | | | | | | | |
| | | | | | | | |
consolidated CASH FLOW STATEMENT
| Six months ended 30 June 22 | Six months ended 30 June 21 | Year ended 31 Dec 21 |
| Unaudited | Unaudited | Audited |
| £ | £ | £ |
Cash flows from operating activities | | | |
Operating loss | (819,965) | (584,777) | (1,455,184) |
Depreciation | 144,039 | 113,420 | 264,677 |
Movement in inventories | (20,310) | - | 17,799 |
Movement in trade and other receivables | 185,761 | (169,082) | (116,768) |
Movement in trade and other payables | (112,135) | (222,450) | (286,968) |
Loss on foreign exchange | (115,391) | (4,597) | (2,687) |
Net cash used in operating activities | (738,001) | (867,486)
| (1,579,131) |
| | | |
| | | |
Cash flows from investing activities | |
| |
Finance income | 48 | 12 | 701 |
| | ---- | |
Net cash used in investing activities | 48 | 12 | 701 |
| | | |
Cash flows from financing activities | | | |
Repayment of convertible loan notes | - | (432,226) | (120,000) |
Repayment of lease liabilities | (14,078) | (8,267) | (30,214) |
Lease interest | (723) | (2,589) | (3,451) |
Proceeds on issue of ordinary shares | - | 3,375,000 | 3,375,000 |
Share issue costs | - | (217,059) | (224,092) |
| | | |
Net cash generated from financing activities | (14,801) | 2,714,859 | 2,997,243 |
| |
| |
| | | |
Net decrease in cash and cash equivalents | (752,754) |
1,847,385 | 1,204,111 |
Cash and cash equivalents at beginning of year | 1,229,801 | 25,690 | 25,690 |
Exchange losses on cash and cash equivalents | 391 | (3) | - |
| | | |
| | | |
Cash and cash equivalents at end of year | 477,438 | 1,873,072 | 1,229,801 |
| | | |
| | | |
NOTES TO THE INTERIM REPORT
1. Financial information and basis of preparation
The interim financial statements of Edenville Energy Plc are unaudited consolidated financial statements for the six months ended 30 June 2022 which have been prepared in accordance with UK adopted international accounting standards. They include unaudited comparatives for the six months ended 30 June 2021 together with audited comparatives for the year ended 31 December 2021.
The interim financial statements do not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. The statutory accounts for the year ended 31 December 2021 have been reported on by the company's auditors and have been filed with the Registrar of Companies. The report of the auditors contained an Emphasis of matter paragraph on going concern, the recoverability of VAT in Tanzania and on the recoverability of inventory. Aside from the Emphasis of matter paragraphs referred to aboveabove, the auditor's report did not contain any statement under section 498 of the Companies Act 2006.
The interim consolidated financial statements for the six months ended 30 June 2022 have been prepared on the basis of accounting policies expected to be adopted for the year ended 31 December 2022. These are anticipated to be consistent with those set out in the Group's latest financial statements for the year ended 31 December 2021. These accounting policies are drawn up in accordance with adopted International Accounting Standards ("IAS") and International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.
2. Loss per share
The calculation of the basic and diluted loss per share is based on the following data:
| 30 June 22 | 30 June 21 | 31 December 21 |
|
| £ | £ | £ |
|
Loss after taxation | (820,640) | (587,354) | (1,460,851) | |
| | | | |
Weighted average number of shares in the period |
21,645,575 |
13,270,575 |
18,144,205 | |
| | | | |
Basic and diluted loss per share (pence) | (3.79) | (4.43) | (8.04) |
The loss attributable to equity shareholders and weighted average number of ordinary shares for the purposes of calculating diluted earnings per ordinary share are identical to those used for basic earnings per ordinary share. This is because the exercise of share options and warrants would have the effect of reducing the loss per ordinary share and is therefore anti-dilutive.
3. Dividends
No dividends are proposed for the six months ended 30 June 2022 (six months ended 30 June 2021: £nil, year ended 31 December 2021: £nil).
4. Property, plant and equipment
| Coal Production assets | Plant & machinery | Fixtures & fittings | Motor vehicles |
Total |
| £ | £ | £ | £ | £ |
Cost or valuation As at 1 January 2022 | 5,230,294 | 1,201,831 | 7,191 | 193,620 | 6,632,936 |
Foreign exchange adjustment | 574,580 | 131,210 | 334 | 19,437 | 725,561 |
|
|
|
|
|
|
At 30 June 2022 | 5,804,874 | 1,333,041 | 7,525 | 213,057 | 7,358,497 |
|
|
|
|
|
|
| | | | | |
Accumulated depreciation | | | | | |
As at 1 January 2022 | 114,026 | 925,484 | 7,045 | 134,460 | 1,181,015 |
Depletion/Charge for the year | 3,587 | 132,234 | 18 | 8,200 | 144,039 |
Foreign exchange adjustment | 12,518 | 100,880 | 334 | 13,002 | 126,734 |
|
|
|
|
|
|
At 30 June 2022 | 130,131 | 1,158,598 | 7,397 | 155,662 | 1,451,788 |
|
|
|
|
|
|
Net book value | | | | | |
As at 30 June 2022 | 5,674,743 | 174,443 | 128 | 57,395 | 5,906,709 |
|
|
|
|
|
|
| Coal Production assets | Plant & machinery | Fixtures & fittings | Motor vehicles |
Total |
| £ | £ | £ | £ | £ |
Cost or valuation As at 1 January 2021 |
5,164,384 |
1,186,781 |
7,153 |
191,390 |
6,549,708 |
Foreign exchange adjustment | (58,917) | (16,770) | 318 | (1,993) | (77,362) |
|
|
|
|
|
|
At 30 June 2021 | 5,105,467 | 1,170,011 | 7,471 | 189,397 | 6,472,346 |
|
|
|
|
|
|
| | | | | |
Accumulated depreciation | | | | | |
As at 1 January 2021 | 106,209 | 678,472 | 6,958 | 113,494 | 905,133 |
Depletion/Charge for the year | - | 103,800 | 44 | 9,576 | 113,420 |
Foreign exchange adjustment | (1,212) | (10,260) | 162 | (1,062) | (12,372) |
|
|
|
|
|
|
At 30 June 2021 | 104,997 | 772,012 | 7,164 | 122,008 | 1,006,181 |
|
|
|
|
|
|
Net book value | | | | | |
As at 30 June 2021 | 5,000,470 | 397,999 | 307 | 67,389 | 5,466,165 |
|
|
|
|
|
|
| | | | | |
4. Property, plant and equipment (continued)
| Coal Production assets | Plant & machinery | Fixtures & fittings | Motor vehicles |
Total |
| £ | £ | £ | £ | £ |
Cost or valuation As at 1 January 2021 |
5,164,392 |
1,186,781 |
7,153 |
191,390 |
6,549,716 |
Foreign exchange adjustment | 65,902 | 15,050 | 38 | 2,230 | 83,220 |
|
|
|
|
|
|
At 31 December 2021 | 5,230,294 | 1,201,831 | 7,191 | 193,620 | 6,632,936 |
|
|
|
|
|
|
| | | | | |
Accumulated depreciation | | | | | |
As at 1 January 2021 | 106,215 | 678,472 | 6,958 | 113,494 | 905,139 |
Depletion/Charge for the year | 6,464 | 238,444 | 49 | 19,720 | 264,677 |
Foreign exchange adjustment | 1,347 | 8,568 | 38 | 1,246 | 11,199 |
|
|
|
|
|
|
At 31 December 2021 | 114,026 | 925,484 | 7,045 | 134,460 | 1,181,015 |
|
|
|
|
|
|
Net book value | | | | | |
As at 31 December 2021 | 5,116,268 | 276,347 | 146 | 59,160 | 5,451,921 |
|
|
|
|
|
|
| | | | | |
5. Intangible assets
| | |
Mining Licences |
Total |
| | | £ | £ |
Cost or valuation As at 1 January 2022 | | |
1,489,604 |
1,489,604 |
Foreign exchange adjustment | | | 163,644 | 163,644 |
| | |
|
|
At 30 June 2022 | | | 1,653,248 | 1,653,248 |
| | |
|
|
| | | | |
| | | | |
| | | | |
Accumulated amortisation and impairment | | |
| |
As at 1 January 2022 | | | 1,174,602 | 1,174,602 |
Foreign exchange adjustment | | | 129,039 | 129,039 |
| | |
|
|
At 30 June 2022 | | | 1,303,641 | 1,303,641 |
| | |
|
|
Net book value | | | | |
As at 30 June 2022 | | | 349,607 | 349,607 |
| | |
|
|
| | | | |
5. Intangible assets (continued)
| |
Mining Licences |
Total |
| | £ | £ |
Cost or valuation As at 1 January 2021 | |
1,470,833 |
1,470,833 |
Foreign exchange adjustment | | (17,185) | (17,185) |
| |
|
|
At 30 June 2021 | | 1,453,648 | 1,453,648 |
| |
|
|
| | | |
Accumulated amortisation and impairment | | | |
As at 1 January 2021 | | 1,159,801 | 1,159,801 |
Foreign exchange adjustment | | (13,233) | (13,233) |
| |
|
|
At 30 June 2021 | | 1,146,568 | 1,146,568 |
| |
|
|
Net book value | | | |
As at 30 June 2021 | | 307,080 | 307,080 |
| |
|
|
| | | |
| |
Mining Licences |
Total |
| | £ | £ |
Cost or valuation As at 1 January 2021 | |
1,470,833 |
1,470,833 |
Foreign exchange adjustment | | 18,771 | 18,771 |
| |
|
|
At 31 December 2021 | | 1,489,604 | 1,489,604 |
| |
|
|
| | | |
Accumulated amortisation and impairment | | | |
As at 1 January 2021 | | 1,159,801 | 1,159,801 |
Foreign exchange adjustment | | 14,801 | 14,801 |
| |
|
|
At 31 December 2021 | | 1,174,602 | 1,174,602 |
| |
|
|
Net book value | | | |
As at 31 December 2021 | | 315,002 | 315,002 |
| |
|
|
6. Share capital
| No | No | £ | No | £ | £ |
| Ordinary shares of 1p each | Ordinary shares of 0.02p each | Ordinary shares of 0.02p/1p each | Deferred shares of 0.001p each | Deferred shares of 0.001p each | Total share capital |
Issued and fully paid | | | | | | |
At 1 January 2021 | - | 8,145,575,094 | 1,629,116 | 241,248,512,346 | 2,412,485 | 4,041,601 |
| | | | | | |
On 5 January the company consolidated and then subdivided the brought forward shares* | 8,145,575 | (8,145,575,094)
| (1,547,659) | 154,765,925,000 | 1,547,659 | - |
On 21 January the company issued 3,600,000 1p shares at 0.25p |
3,600,000 |
- |
36,000 |
- |
- |
36,000 |
On 26 May the company issued 9,900,000 1p shares at 0.25p |
9,900,000 |
- |
99,000 |
- |
- |
99,000 |
| | | | | | |
As at 30 June 2021,31 December 2021 and 30 June 2022 | 21,645,575 | - | 216,457 | 396,014,437,346 | 3,960,144 | 4,176,601 |
*On 5 January 2021 the Company reduced the number of issued ordinary shares of £0.0002 each in the Company by a multiple of 1,000 (the "Consolidation"), Following the Consolidation the Company sub-divided each consolidated ordinary share of £0.20 each in the capital of the Company, into 1 ordinary share of £0.01 each in the capital of the Company and 19,000 new deferred shares of £0.00001 each in the capital of the Company.
7. Distribution of interim report to shareholders
The interim report will be available for inspection by the public at the registered office of the company during normal business hours on any weekday and from the Company's website http://www.edenville-energy.com/. Further copies are available on request.
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