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URU Metals #URU – Ground-Based Geophysical Survey to Start Following Completion of Line Preparation
URU Metals Limited (“URU” or the “Company”) is pleased to announce that line preparation has been completed across both priority survey areas for the planned ground-based geophysical programme at the Zeb Nickel Project.
The ground-based gravity survey is scheduled to commence today, 15 April 2026, with the frequency-domain electromagnetic (“FDEM”) survey expected to commence shortly thereafter. The programme forms part of the next phase of exploration aimed at enhancing the resolution of the previously completed airborne geophysical surveys.
The airborne programme successfully identified several compelling coincident gravity-magnetic-electromagnetic anomalies interpreted to be associated with a magmatic conduit system linking the Uitloop ultramafic bodies. The higher-resolution ground-based surveys are expected to refine these anomalies, improve target definition, and better constrain the geometry of conductive bodies potentially associated with semi-massive nickel sulphide mineralisation.
The results of the gravity and FDEM surveys will support prioritisation of drill targets and maximise the effectiveness of the Company’s upcoming drilling campaign.
Figure 1: Map showing the ground-based geophysical survey areas, including the adjacent Ivanplats Mining Right and mine shaft. The gravity survey along the planned lines commenced on 15 April 2026.
CEO John Zorbas commented: “We are very pleased to have completed line preparation across both survey areas and to now be commencing the ground-based geophysical programme. While the airborne programme successfully identified several compelling targets, the higher-resolution ground surveys will allow us to sharpen our focus on the most prospective semi-massive nickel sulphide targets. This work is designed to maximise the effectiveness of our upcoming drilling campaign. We are very excited about the progress being made and look forward to the coming weeks and months as the surveys advance. We will continue to provide shareholders with regular updates as results become available.”
About the Company
URU Metals is a mineral exploration and development company focused on advancing high-potential critical metals projects in South Africa. The Company is committed to creating sustainable value through responsible mining practices, regulatory compliance, and active stakeholder engagement. For more information, visit www.urumetals.com
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer)
+1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat / Caroline Rowe / Devik Mehta
+ 44 (0) 203 470 0470
URU Metals #URU – Result of shareholder analysis
URU announces that, following the completion of an independent third-party shareholder register analysis of depositary interest holdings, the Company is aware of the following significant shareholders as at 31 December 2025, being those with an interest in 3% or more of the depositary interests representing the ordinary issued share capital of the Company (“Ordinary Shares”).
|
Shareholder |
Holding of Ordinary Shares |
% of interest in Ordinary Shares in issue based on issued share capital as at 31 December 2025 |
|
Hargreaves Lansdown Asset Mgt |
12,924,929 |
13.33 |
|
Mr John Zorbas |
12,605,800 |
13.00 |
|
Axis Capital Markets |
11,841,174 |
12.21 |
|
Interactive Investor |
9,154,318 |
9.44 |
|
A J Bell Securities |
5,224,572 |
5.39 |
|
Halifax Share Dealing |
5,209,250 |
5.37 |
|
Ms Sharon J Tansley |
4,800,000 |
4.95 |
|
Barclays Wealth |
3,470,415 |
3.58 |
|
Mr Steven Geoghegan |
3,291,934 |
3.40 |
Other than as previously announced by RNS, URU has no further information pursuant to Rule 17 Schedule Five of the AIM Rules for Companies in respect of any dealings by the above mentioned shareholders in the Ordinary Share capital of the Company.
For further information, please contact:
|
URU Metals Limited John Zorbas (Chief Executive Officer)
|
+1 416 504 3978
|
|
SP Angel Corporate Finance LLP (Nominated Adviser and Broker) Ewan Leggat / Jen Clarke / Devik Mehta |
+ 44 (0) 203 470 0470 |
URU Metals #URU – Mining Right Granted and Executed for Zeb Nickel. URU Raises £1.1 Million in Oversubscribed Placing.
URU Metals Limited is pleased to announce that the South African Department of Mineral and Petroleum Resources (“DMPR”) has granted and executed Mining Right LP30/5/1/2/2/10174MR in favour of Lesego Platinum Uitloop (Pty) Ltd (“LPU”), the project company for the Zeb Nickel Project, located on the Northern Limb of the Bushveld Complex, South Africa.
The Mining Right has a 30-year term to 2055, and covers an area of 4,703.70 ha across certain portions of the Bloemhof 4KS, Uitloop 3KS, Amatava 41KS, and Piet Potgietersrust Town & Townlands 44KS farms, in the Mogalakwena Local Municipality, Limpopo Province, South Africa.
Post-execution formalities are underway, and the Mining Right is in the process of being submitted for registration at the Mineral and Petroleum Titles Registration Office, in Pretoria. URU will update the market once registration is confirmed.
Operations
As announced on 16 October 2025, ground gravity and frequency-domain electromagnetic (EM) surveys are scheduled to commence shortly, over two priority targets at the Zeb Nickel Project. The objective of these surveys is to refine the geometry of the identified conductors and generate decision-ready drill targets. The Company will provide a further update to the market on modelling outputs, drill parameters and timing following receipt of the contractor’s report.
Fundraising
URU Metals Limited is pleased to announce that it has raised £1.1 million, before expenses, through a placing of 15,714,285 new ordinary shares of no nominal value each in the capital of the Company (the ‘Placing Shares’) at a price of 7p per share. The Placing was arranged by the Company’s broker, Axis Capital Markets Limited.
The funds raised will allow URU to begin critical, on the groundwork, such as ground geophysics, which will give a clearer picture of the geological site and form a crucial part of the preparation for a drilling programme that will commence on completion of the geophysics. Following receipt of the placing proceeds, the Company will begin a tender process to find a drilling contractor for work that is expected to start in Q1 2026.
Admission and Dealing of the Shares
The Placing Shares will be issued as fully paid and rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive dividends and other distributions declared on or after the date on which they are issued.
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading at 8:00 a.m. on or around 7 November 2025.
Total Voting Rights
Following admission of the Placing Shares, the Company’s issued share capital will be 96,963,703 Ordinary Shares. This figure of 96,963,703 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company.
John Zorbas, Chief Executive Officer, commented: “The granting and execution of the Mining Right materially de-risks Zeb Nickel by securing the right for 30 years and positions the project to engage quality partners as we advance. Our immediate priority is to complete the ground EM and gravity survey and associated modelling and present a clear, efficient drill plan focused on the highest ranked targets; registration formalities are in progress.”
“After the successful granting of the long awaited mining licence by the DMPR, we are pleased to have secured the funding requirements for the immediate future of the on the ground operations at our flagship Zeb Nickel Project. The amount available to the Company is significantly above what the Company has previously raised, reflecting increased investor interest at this critical time in URU’s development.”
About the Company
URU Metals is a mineral exploration and development company focused on advancing its high-potential critical metals projects in South Africa. The Company is committed to creating sustainable value through responsible mining practices, regulatory compliance, and engagement with stakeholders. For more information, visit www.urumetals.com.
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer)
+1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat / Jen Clarke + 44 (0) 203 470 0470
URU Metals #URU – Results of shareholder analysis
URU announces that, following the completion of an independent third-party shareholder register analysis of depositary interest holdings, the Company is aware of the following significant shareholders, being those with an interest in 3% or more of the depositary interests representing the ordinary issued share capital of the Company (“Ordinary Shares”) as at 30 September 2025
|
Shareholder |
Holding of Ordinary Shares |
% of interest in Ordinary Shares in issue based on current issued share capital |
|
Axis Capital Markets |
17,766,793 |
21.93 |
|
Mr John Zorbas |
12,605,800 |
15.56 |
|
Hargreaves Lansdown Asset Mgt |
9,008,979 |
11.12 |
|
Interactive Investor |
8,204,494 |
10.12 |
|
A J Bell Securities |
3,609,866 |
4.46 |
|
Walker Crips Stockbrokers |
3,403,125 |
4.20 |
|
Shore Capital Stockbrokers |
3,294,632 |
4.07 |
|
Halifax Share Dealing |
2,888,828 |
3.57 |
|
Niketo Co |
2,613,625 |
3.23 |
|
Mrs J M Burne |
2,583,434 |
3.19 |
|
Barclays Wealth |
2,452,013 |
3.03 |
Other than as previously announced by RNS, URU has no further information pursuant to Rule 17 Schedule Five of the AIM Rules for Companies in respect of any dealings by the above mentioned shareholders in the Ordinary Share capital of the Company.
For further information, please contact:
|
URU Metals Limited John Zorbas (Chief Executive Officer)
|
+1 416 504 3978
|
|
SP Angel Corporate Finance LLP (Nominated Adviser and Broker) Ewan Leggat / Jen Clarke / Devik Mehta |
+ 44 (0) 203 470 0470 |
URU Metals #URU – Zeb Nickel Project successfully completes SpectremPlus™ AEM Survey
URU Metals Limited (“URU” or the “Company”) is pleased to confirm that the high‑powered SpectremPlus™ airborne electromagnetic (“AEM”) survey over its Zeb Nickel Project in Limpopo Province, South Africa (“Project”), has been successfully completed on schedule.
Highlights
· Survey completed safely and on budget.
· ~736 line‑kilometres flown at 150 m traverse spacing using Spectrem’s converted DC‑3 turboprop platform equipped with the proprietary SpectremPlus™ system, capable of imaging conductive bodies to depths in excess of 700 m.
· Final, fully processed datasets, 3‑D inversion models and an integrated geophysical interpretation are expected by the end of August 2025.
· Deliverables will be integrated with existing gravity‑magnetic data to refine and prioritise drill targets focused on potential high‑grade nickel‑sulphide mineralisation.
Next Steps
The Spectrem Air team has begun final processing, following which the Company’s geophysical consultant will complete a full interpretation and integration with the recently acquired gravity and magnetic datasets. Geofocus has been tasked with the integration of the geological, gravity, magnetic, and EM datasets into a unified 3D geophysical block model. Management anticipates releasing the results, together with an updated technical programme and drill‑target inventory, shortly after receipt of the final deliverables, which are expected near the end of Q3 2025.
John Zorbas, CEO, commented:
“Completion of this state‑of‑the‑art AEM survey marks another key milestone for the Zeb Project. The high‑resolution data will underpin our next phase of exploration as we advance toward testing high‑grade nickel sulphide targets, which, if successful, will significantly move the needle on the Project.”
About the Company
URU Metals is a mineral exploration and development company focused on advancing its high-potential critical metals projects in South Africa. The Company is committed to creating sustainable value through responsible mining practices, regulatory compliance, and engagement with stakeholders. For more information, visit www.urumetals.com.
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer)
+1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat / Jen Clarke + 44 (0) 203 470 0470
URU Metals #URU – Results of shareholder analysis
URU announces that, following the completion of an independent third-party shareholder register analysis of depositary interest holdings, the Company is aware of the following significant shareholders, being those with an interest in 3% or more of the depositary interests representing the ordinary issued share capital of the Company (“Ordinary Shares”). This follows the Company’s recent 25:1 share spilt and placing of £300k as announced 17 March 2025 and 28 March 2025 respectively.
|
Shareholder |
Holding of Ordinary Shares |
% of interest in Ordinary Shares in issue based on current issued share capital |
|
Mr John Zorbas (CEO) |
12,605,800 |
30.62 |
|
Axis Capital Markets |
8,916,875 |
21.66 |
|
Interactive Investor |
2,871,946 |
6.98 |
|
Niketo Co |
2,613,625 |
6.35 |
|
Hargreaves Lansdown Asset Mgt |
2,116,818 |
5.14 |
|
Mr J John |
1,475,000 |
3.58 |
Other than as previously announced by RNS, URU has no further information pursuant to Rule 17 Schedule Five of the AIM Rules for Companies in respect of any dealings by the above mentioned shareholders in the Ordinary Share capital of the Company.
For further information, please contact:
|
URU Metals Limited John Zorbas (Chief Executive Officer)
|
+1 416 504 3978
|
|
SP Angel Corporate Finance LLP (Nominated Adviser and Broker) Ewan Leggat / Jen Clarke |
+ 44 (0) 203 470 0470 |
URU Metals #URU – Placing to raise £300,000 and Appointment of Joint Broker
The Company is pleased to announce that it has raised £300,000 before expenses through a placing of 10,000,000 new ordinary shares of no nominal value each in the capital of the Company (the “Placing Shares”) at a price of 3p per share (the “Placing”). The Placing was arranged by Axis Capital Markets Limited (“Axis”).
Use of proceeds
The Directors have undertaken the Placing to facilitate and accelerate activities at the Zebediela project. These funds will be used for:
• geophysical interpretation to assist with targeting higher grade targets within Zone 1 and Zone 2, and possibly identify sulphide targets (Zone 3);
• reinterpretation of historic drilling results;
• establishing the ground work for a maiden NI43-101 compliant resource;
• improving the overall grade on the historical nickel resource by targeting the geological units where there are higher nickel grades at the base of Zone 1 and within Zone 2; and
• continuing progress towards mining rights being awarded.
Appointment of Joint Broker
Axis has subscribed for the shares on behalf of its clients. URU has appointed Axis as joint broker to the Company with immediate effect.
Admission and Dealings of the Shares
The Placing Shares will be issued as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive dividends and other distributions declared on or after the date on which they are issued.
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM at 8.00 a.m. on or around 3 April 2025.
Total Voting Rights
Following admission of the Placing Shares, the Company’s issued share capital will be 51,167,275 Ordinary Shares. This figure of 51,167,275 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
CEO John Zorbas commented: “As things begin to pick up at the Zebediela project we are pleased to announce a partnership with Axis as these funds are pivotal in accelerating our ongoing work program. We look forward to updating the market on several fronts in the near term.”
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information, please contact:
|
URU Metals Limited John Zorbas, CEO
|
+1 416 504 3978
|
|
SP Angel Corporate Finance LLP (Nominated Adviser and Broker) Ewan Leggat / Jen Clarke
|
+ 44 (0) 203 470 0470 |
|
Axis Capital Markets Limited (Joint Broker) Lewis Jones |
+44 (0) 203 0260320 |
Seed Capital Solutions Plc #SCSP – Issue of Warrants
Seed Capital Solutions plc (LON: SCSP) announces that the Company has issued a total of 17,000,000 warrants (“New Warrants”) over ordinary shares of 0.25 pence each (“Ordinary Shares”) to the Company’s Directors and Company Secretary, as detailed below.
| Name | Role | Number of warrants held prior to the issue of the New Warrants | Number of New Warrants granted | Total warrants held following issue of New Warrants |
| John Zorbas | Chief Executive Officer | – | 8,000,000 | 8,000,000 |
| Damion Greef | Non-Executive Chairman | 1,333,333 | 4,000,000 | 5,333,333 |
| Segar Karupiah | Chief Financial Officer | – | 2,000,000 | 2,000,000 |
| Avi Robinson | Non-Executive Director | – | 2,000,000 | 2,000,000 |
| Mike Hirschfield | Company Secretary | 1,333,333 | 1,000,000 | 2,333,333 |
The New Warrants have an exercise price of 1 penny each, representing a 33.3% premium over the closing mid-market price of Ordinary Shares on 21 March 2025, the business day prior to the issue of the New Warrants.
The New Warrants have been issued under the Company’s existing warrant scheme and are exercisable at any time until 23 March 2030.
Following the issue of the New Warrants, the Company has a total of 25,313,532 warrants in issue.
– ENDS –
This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) (“UK MAR”).
FOR FURTHER INFORMATION, PLEASE CONTACT:
| Seed Capital Solutions plc | Tel: +44 (0) 7976 431608 | |||
| Damion Greef, Chairman
Brand Communications |
Tel: +44 (0) 7976 431608 |
|||
| Public & Investor Relations | ||||
| Alan Green | ||||
ABOUT SEED CAPITAL SOLUTIONS PLC
Seed Capital Solutions plc (LON: SCSP) has been formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, thereby benefitting from the current trend of superior performance and increased investor appetite.
Seed Capital Solutions #SCSP – Half Year Report
Seed Capital Solutions plc is pleased to announce its unaudited half year report for the six months ended 31 December 2024.
Chairman’s Statement
During the financial period under review, the Company reported a net loss of £158,000 (December 2023: £117,600, year to 30 June 2023: £262,400), being the administrative expenses incurred. As at 31 December 2024, the Company had a cash in bank balance of £310,700 (31 December 2023: £550,500, 30 June 2023: £518,100).
The Directors continue to review potential acquisition opportunities. A further announcement will be made at such time as the Company is able to provide further details on any proposed transaction.
Damion Greef, Chairman
Interim Management Report
Company Objective
The Company has been formed for the purpose of acquiring a business or businesses operating in market sectors that display strong environmental, social and governance (“ESG”) credentials, thereby benefitting from the current trend of superior performance aligned with increased investor appetite. The Company is not geographically focused on any one or specific country or region, but rather opportunity focused hence any potential acquisition opportunities will not be limited by jurisdiction or geographic region.
The Company was admitted to the Standard Listing of the London Stock Exchange on 11 April 2023. Since listing, the Directors have targeted socially conscious technology-based organisations which are capable of generating sustainable long-term growth for investors. The Company’s initial focus is to identify opportunities to acquire companies with undervalued or pre-commercialisation technologies, or current commercialisation technologies which, when applied, produce cost savings or revenue enhancement for customers. These commercial advantages could offer market and sector beating performance potential whilst fulfilling the Company’s ESG assessment criteria.
Principal Risks and Uncertainties
The Company’s primary risk is that it may not be able to identify suitable investment opportunities or there is no guarantee that the Company will be able to secure an acquisition on commercially acceptable terms, and the Company may incur costs in conducting due diligence into potential investment opportunities that may not result in an investment being made. The directors believe that their broad collective experience, together with their extensive network of contacts will assist them in identifying, evaluating, and funding suitable acquisition opportunities.
It may be necessary to raise additional funds in the future by a further issue of new Ordinary Shares or by other means. However, the ability to fund future investments and overheads as well as the ability of any acquisition to return suitable profit cannot be guaranteed.
Related Parties Transactions
Details of related party transactions are set out in note 5 to these accounts.
Responsibility Statement
The Directors are responsible for preparing the Interim Report in accordance with the Disclosure and Transparency Rules of the United Kingdom’s Financial Conduct Authority (‘DTR’) and with International Accounting Standard 34 on Interim Financial Reporting (IAS 34).
The Directors, being John Zorbas, Segar Karupiah, Damion Greef and Avi Robinson confirm that, to the best of their knowledge:
| • | the interim financial statements, prepared in accordance with the applicable set of accounting standards, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company; and | |
| • | the interim financial statements have been prepared in accordance with IAS 34 and that, as required by DTR 4.2.7 and DTR 4.2.8, they give a fair review of: | |
| – important events that have occurred during the first six months of the year; | ||
| – the impact of those events on the financial statements; | ||
| – a description of the principal risks and uncertainties for the remaining six months of the financial year; | ||
| – details of any related party transactions that have materially affected the Company’s financial position or performance in the six months ended 31 December 2024; and | ||
| – any changes in the related party transactions described in the last annual report that could have a material effect on the financial position or performance of the enterprise in the first six months of the current financial year. |
By order of the Board
Damion Greef, Chairman
17 March 2025
Condensed Statement of Comprehensive Income (unaudited)
| 6 months | 6 months | 12 months | |||
| 31
December |
31
December |
30 June | |||
| 2024 | 2023 | 2024 | |||
| Note | Unaudited | Unaudited | Audited | ||
| £000 | £000 | £000 | |||
| Revenue | – | – | – | ||
| Administrative expenses | (158.0) | (117.6) | (262.4) | ||
| – | – | ||||
| Operating loss | (158.0) | (117.6) | (262.4) | ||
| Loss on ordinary activities before taxation | (158.0) | (117.6) | (262.4) | ||
| Income tax expense | – | – | – | ||
| Loss after taxation | (158.0) | (117.6) | (262.4) | ||
| Other comprehensive income | – | – | – | ||
| Total comprehensive loss attributable to | (158.0) | (117.6) | (262.4) | ||
| owners of the parent | |||||
| Loss per share: | |||||
| Basic and diluted (pence) | 3 | (0.08) | (0.06) | (0.14) |
Condensed Statement of Financial Position as at 31 December 2024 (unaudited)
| 31
December |
31
December |
30 June | |||
| 2024 | 2023 | 2024 | |||
| Note | Unaudited | Unaudited | Audited | ||
| £000 | £000 | £000 | |||
| Current assets | |||||
| Trade and other receivables | 52.9 | 82.3 | 10.8 | ||
| Cash at bank and in hand | 310.7 | 550.5 | 518.1 | ||
| Total assets | 363.6 | 632.8 | 528.9 | ||
| Current liabilities | |||||
| Trade and other payables | (61.7) | (28.0) | (69.0) | ||
| Total current liabilities | (61.7) | (28.0) | (69.0) | ||
| Total liabilities | (61.7) | (28.0) | (69.0) | ||
|
Net assets |
301.9 |
604.8 |
459.9 |
||
| Equity | |||||
| Share capital | 4 | 463.5 | 463.5 | 463.5 | |
| Share premium | 539.3 | 539.3 | 539.3 | ||
| Share based payments reserve | 22.5 | 22.5 | 22.5 | ||
| Reserves | (723.4) | (420.5) | (565.4) | ||
| Shareholders’ funds | 301.9 | 604.8 | 459.9 |
Condensed Statement of Changes in Equity
For the six-month period ended 31 December 2024 (unaudited)
| Share | Share | Share
based |
Retained | Total | |||
| capital | premium | payment | profits | equity | |||
| £’000 | £’000 | £’000 | £’000 | £’000 | |||
| Balance at 1 July 2023 | 463.5 | 539.3 | 22.5 | (302.9) | 722.4 | ||
| Loss for the period | – | – | – | (117.6) | (117.6) | ||
| Balance at 31 December 2023 | 463.5 | 539.3 | 22.5 | (420.5) | 604.8 | ||
| Loss for the period | – | – | – | (144.9) | (144.9) | ||
| Balance at 30 June
2024 |
463.5 | 539.3 | 22.5 | (565.4) | 459.9 | ||
| Loss for the period | – | – | – | (158.0) | (158.0) | ||
| Balance at 31 December 2024 | 463.5 | 539.3 | 22.5 | (723.4) | 301.9 |
Condensed Statements of Cash Flows
For the six-month period ended 31 December 2024 (unaudited)
| 6 months | 6 months | 12 months | |
| 31 December | 31 December | 30 June | |
| 2024 | 2023 | 2024 | |
| Unaudited | Unaudited | Audited | |
| £000 | £000 | £000 | |
| Cash flow from operating activities | |||
| Loss before taxation | (158.0) | (117.6) | (262.4) |
| Change in prepayments | (42.1) | 3.2 | (0.3) |
| Change in accruals | (7.3) | (42.9) | (31.5) |
| Operating cash flows before movements in working capital | (207.4) | (157.3) | (294.2) |
| Decrease in trade and other receivables | – | 220.1 | 295.1 |
| Decrease in trade and other payables | – | (29.6) | – |
| Cash (absorbed) / generated from operations | (207.4) | 33.2 | (294.2) |
| Cash flows from operating activities | (207.4) | 33.2 | (294.2) |
| Proceeds from share issue | – | – | 295.0 |
| Share issue costs | – | – | – |
| Net cash generated from financing activities | – | – | 295.0 |
| Net increase/(decrease) in cash & cash equivalents | (207.4) | 33.2 | 0.8 |
| Cash and equivalent at beginning of the period | 518.1 | 517.3 | 517.3 |
| Cash and equivalent at end of the period | 310.7 | 550.5 | 518.1 |
NOTES TO THE FINANCIAL INFORMATION
| 1. | GENERAL INFORMATION AND PRINCIPAL ACTIVITIES |
The Company is incorporated in England and Wales as a public limited company with company number 11115718.
The registered office of the Company is 80 Cheapside, London EC2V 6EE.
This financial information is for the Company only as there are no subsidiary undertakings.
The principal place of business of the Company is in the United Kingdom.
The interim financial statements are presented to the nearest thousand Pounds Sterling (£’000), which is the presentational currency of the Company.
| 2. | BASIS OF PREPARATION |
The interim financial statements for the six months ended 31 December 2024 have been prepared in accordance with IAS 34, Interim Financial Reporting.
The principal accounting policies used in preparing the interim results are the same as those applied in the Company’s Financial Statements as at and for the period ended 30 June 2024.
A copy of the audited financial statements for the period ended 30 June 2023, which was prepared under IFRS, is available on the Company’s website.
The interim report for the six months ended 31 December 2024 was approved by the Directors on 17 March 2025.
| 3. | LOSS PER SHARE |
The loss per share information is as follows:
| 6 months | 6 months | 12 months | |||
| 31
December |
31
December |
30 June | |||
| 2024 | 2023 | 2024 | |||
| Unaudited | Unaudited | Audited | |||
| Loss after taxation (£’000) | (158.0) | (117.6) | (262.4) | ||
| Weighted average number of ordinary shares |
185,406,000 |
185,406,000 |
185,406,000 |
||
|
Basic loss per share (pence) |
(0.08) |
(0.06) |
(0.14) |
| 4. | SHARE CAPITAL |
| 31 December | 31 December | 30 June | |||
| 2024 | 2023 | 2024 | |||
| Unaudited | Unaudited | Audited | |||
| £000 | £000 | £000 | |||
| Ordinary shares allotted, called up and
issued of £0.0025 each |
|||||
| 185,406,000 issued and fully paid | 463.5 | 463.5 | 463.5 | ||
At 31 December 2024, the Company had the following warrants in issue:
| 31 December 2023, 30 June 2024 and 31 December 2024 | |||
| Weighted
Average exercise price (p) |
Number | ||
| Outstanding at the beginning of the period | 0.0027 | 8,313,532 | |
| Granted during the period | – | – | |
| Exercised during the period | – | – | |
| Outstanding at the end of the period | 0.0027 | 8,313,532 | |
| Exercisable at the end of the period | 0.0027 | 8,313,532 | |
All of these warrants have an exercise price of 1.125 pence per share, vested immediately and have a five-year contractual life.
Nature and purpose of reserves
Share based payments
The share-based payments reserve reflects the share based payments charge on warrants granted by the Company as described earlier in this note.
| 5. | RELATED PARTY TRANSACTIONS |
Segar Karupiah, a director of the Company, has invoiced the Company for his services via Danmar Management Limited, a wholly-owned service company. In the six months to 31 December 2024, the total amount invoiced to the Company was £6,000 (six months to 31 December 2023: £6,000, year to 30 June 2024: £12,000).
John Zorbas, a director of the Company, has invoiced the Company for his services via Corrales Trading Ltd, a wholly-owned service company. In the six months to 31 December 2024, the total amount invoiced to the Company was £25,000 (six months to 31 December 2023: £nil, year to 30 June 2024: £nil).
| 6. | SEASONAL OR CYCLICAL FACTORS |
There are no seasonal factors that materially affect the operations of the company.
| 7. | EVENTS AFTER THE REPORTING DATE |
There are no events since the reporting date which require reporting.
– ENDS –
This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) (“UK MAR”).
FOR FURTHER INFORMATION, PLEASE CONTACT:
| Seed Capital Solutions plc | Tel: +44 (0) 7976 431608 | |||
| Damion Greef, Chairman
Brand Communications |
Tel: +44 (0) 7976 431608 |
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| Public & Investor Relations | ||||
| Alan Green
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ABOUT SEED CAPITAL SOLUTIONS PLC
Seed Capital Solutions Plc (LON: SCSP) has been formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, thereby benefitting from the current trend of superior performance and increased investor appetite.