TIDMYOLO
RNS Number : 3274J
YOLO Leisure & Technology PLC
27 June 2017
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
YOLO Leisure and Technology plc
("YOLO" or the "Company")
Unaudited Interim Results for the period ended 31 March 2017
Introduction and Key highlights
The Board is pleased to report that the Company's unaudited
results for the six month period ending 31 March 2017. The key
highlights during the period were:
-- On 5 November 2016 the Company completed its investment in
Magic Media Works limited ("Magic ") by investing GBP1.4m through
convertible loan notes in Magic ("Loan Notes").
-- On 7 November the Company placed 254,000,000 shares at 1.0p
each raising total gross funds of GBP2,540,000. A further 8,400,000
fee shares were also issued at a price of 1.0p.
-- On 28 February 2017 TVPlayer Limited ("TVPlayer") completed
an investment round led by A&E Networks LLC ("A&E"). As
part of this investment round, Yolo invested GBP85,424 to maintain
its holding of 4.57%.
Post period end
-- An independent valuation of YOLO's investment portfolio dated
26 June 2017 supports the Board's estimate that the Company's
current Net Asset Value per share equates to at least 1.5p. This is
186% above the midmarket closing price on 26 June 2017.
-- On 2 of June 2017 the Company announced the conversion of its
Loan Notes of GBP1.415m in Magic Media Works Ltd to 2,673,661
ordinary shares taking a 41.43% holding in Magic.
-- Magic completed a pre-IPO funding round through the issue of
GBP1.2m new Convertible Loan Notes.
-- Yolo has subscribed for GBP500,000 of the New Loan Notes.
-- Magic has appointed FinnCap Limited as Corporate Finance
Advisor to advise on its corporate finance strategy.
-- Simplestream Limited completes a profitable financial year to
31 May 2017 and is forecast to achieve GBP5m revenues for year
ending 31 May 2018.
For further details please see below
YOLO Leisure and Technology plc
Simon Lee Robinson simon.robinson@yoloplc.com
Cairn Financial Advisers LLP
Sandy Jamieson, Emma Earl Tel: +44 20 7213 0880
Peterhouse Corporate Finance Limited
(Sole broker)
Duncan Vasey / Lucy Williams Tel: + 44 20 7220 9797
Walbrook PR Ltd Tel: +44 20 7933 8787 or
yolo@walbrookpr.com
Paul McManus Mob: +44 7980 541 893
Sam Allen Mob: +44 7884 664 686
Introduction
I am pleased to report that the Company has had an active six
month period ending 31 March 2017.
During the period the Company placed 254,000,000 shares at 1.0p
each raising total gross funds of GBP2,540,000. A further 8,400,000
fee shares were also issued at a price of 1.0p.
On 5 November 2016 the Company completed its investment in Magic
Media Works limited ("Magic ") by investing GBP1.4m through
convertible loan notes in Magic ("Loan Notes"). The Loan Notes were
converted into approximately 41.43% of the ordinary share capital
of Magic on a fully diluted basis subsequent to the period end.
On 28 February 2017 TVPlayer Limited ("TVPlayer") completed an
investment round led by A&E Networks LLC ("A&E"). As part
of this investment round, Yolo invested GBP85,424 to maintain its
holding of 4.57%.
The Board has commissioned an independent valuation of YOLO's
investment portfolio by Welbeck Associates, Chartered Accountants.
The valuation is dated 26 June 2017 and is based on current share
prices in respect of the Company's quoted investments and recent
investment rounds and indicative third party valuations for the
Company's unquoted investments. Based on this valuation, the
Directors estimate that the current Net Asset Value of the Company
equates to approximately GBP7 million, which equates to at least
1.5p per share. This is 186% above the midmarket closing price on
26 June 2017.
The Company continues to actively search for additional
investment opportunities in pursuit of its investment strategy. Our
stated aim is to be a successful and profitable investment company
by focussing on undervalued technology, travel, leisure and media
businesses. We have and will continue to achieve this by
identifying early stage or turnaround opportunities that require
investment and / or have potential for a reverse takeover. We will
invest into businesses with content and delivery capability that
engage customers, monetise the user experience and have potential
to scale.
Market context and background to investment strategy
The UK leisure sector is a large and diverse sector generating
an estimated GBP117 billion. Consumers want to spend their free
time enjoying themselves and are seeking experiences that enrich or
add convenience to their lives. New classifications of leisure
activities and ways of consumers engaging with content and
experiences have emerged, whether these be occasional, frequent or
habitual leisure activities. New sub-segments within the leisure
segment have emerged such as music, video streaming subscriptions,
podcasting, eSports and entertainment within the home representing
a bigger and growing part of the consumers overall leisure time and
expenditure.
How consumers spend their leisure time and disposable income is
a key theme for each of Yolo's investee companies and of equal
importance how they monetise this engagement time. Each of them
have worked to capitalise on the shift to digital by developing
technology platforms and capability that engage consumers with
media content to create innovative and entertaining experiences
that consumers value.
Consumers are increasingly looking to enrich their lives through
entertainment experiences, aiming to make their everyday life more
enjoyable and memorable. Improved technology in the form of smart
TVs and the emergence of TV and streaming services have encouraged
consumers to enjoy leisure in the comfort of their own home.
Summary of investment portfolio:
The Board has been selective in the transactions made and our
growing investment portfolio now consists of businesses with strong
technology and content themes. Each of the businesses are pioneers
and innovators in their sectors and are disrupting the space that
they are in, being consistent with YOLO's investment criteria.
Magic Media Works Ltd ("Magic") investor summary: Magic is a
home entertainment technology company, with a mission to connect
people together through music and bring joy to the home by building
remarkably simple products that anyone, and everyone can use. On 7
November 2016 Yolo invested GBP1,415,000 in Magic Loan Notes. The
Magic Loan Notes were converted into 2,673,661 ordinary shares on 2
June 2017 bringing its holding in Magic to 41.43%. On the same day
YOLO also acquired a further GBP500,000 of new loan notes in
Magic.
Magic has licensing agreements with the world's major record
labels, including Universal Music Group, Sony Music Group and
Warner Music Group and major independents including Merlin Music
and also the major music publishers, allowing users to access
millions of albums and over 29 million music tracks ad-free.
During the first quarter of 2017, a third of its existing
customers were already using the company's devices for more than 8
hours per week.
Magic's next generation product is scheduled to launch in Q3
2017, delivering a suite of new features which will significantly
differentiate the company's proposition from existing music
streaming offerings.
In anticipation of the new product's launch, Magic has appointed
Paul Johnson (previously with Nissan, Sony and Virgin) as Chief
Marketing Officer and Michael Moszynski, CEO of London Advertising,
has joined Magic's Advisory Board.
The new product will be made available through a range of
retailers, etailers and TV shopping networks in a range of
territories in both North America and Europe with launch dates and
further details about the products exciting features to be
announced in the near future.
Simplestream Limited ("Simplestream") investor summary:
Simplestream is a live & video on demand (VOD) streaming
solution broadcast company. Yolo invested on the 4 of February 2015
and has a 6.71% shareholding in the company with 9,943 shares. The
total cost of our investment is GBP539,134.
Simplestream is a leading provider of video services for the
media and entertainment industry specialising in end-to-end
multi-device streaming including; Live, On-demand (VoD) and
Catch-up TV, Cloud and Hybrid TV and Apps. It generates revenues on
a SaaS based model and continues to impressively grow its client
base with recent agreements, increasing recurring revenue growth to
over 50% up year on year.
The company is profitable as of its May 2017 year end and
benefits from over GBP3m in annually contracted software licence
fees. Revenues for the 2017/2018 financial year are forecast to be
in excess of GBP5m.
Recent high profile signings have contributed to the company's
growth with Simplestream being selected by:
- NWSL Media, a joint venture between the National Women's Soccer League and A+E Networks
- Modern Times Group owned TracePlay to provide the TRACE App
for their urban music and entertainment global media group
- A+E Networks UK to provide TV Everywhere distribution services
for its new UK free-to-air channel Blaze
- Sony Pictures Television for its Hybrid TV solution and new
catch-up service on YouView, the service hosts shows from Sony's
popular kids channels Tiny Pop, POP and KIX
- Three new Subscriber Video on Demand (SVod) accounts have also
been signed to provide customised and bespoke genre TV platforms
for; the Arts and Culture content, Music and Sports.
Simplestream has built the service with features that include HD
live channels and Video on Demand (VoD) with high quality adaptive
streaming, the flexibility to create multiple thematic content
packs based on deep metadata to enhance content discovery across
multiple screens, region-based content controls to customise how
content is presented in real-time, and localisation of all content
in English and other languages.
TVPlayer Limited ("TVPlayer") investor summary: TVPlayer is a
licensed TV aggregating broadcast platform that is focussed
directly on the customer. Yolo invested on the 4 February 2015 and
has a 4.57% shareholding in the company with 11,067 shares at a
cost of GBP372,964.
TVPlayer was founded in 2014 and is the UK's de facto online TV
aggregator. The company demerged from Simplestream Ltd in September
2016 to assist its growth. The company is well positioned with new
and large strategic content partners taking an active interest to
assist the business in its expansion.
The company has already attracted 3m downloads with 1m monthly
active users and is the UK's only fully licensed online channel
aggregator, having signed contracts with all of the commercial PSBs
in September 2016. TVPlayer offers 75+ free live channels and the
TVPlayer Plus offering a further 29 premium live and on demand
channels for a monthly GBP5.99 (EUR7).
A+E (a joint venture between Disney and Hearst Media) is an
award-winning, global media content company and a minority
shareholder of TVPlayer following a GBP5m cash investment in August
2016. A+E are actively assisting management to accelerate growth in
the UK and internationally. Opportunities exist for further
strategic partnerships and the company is well positioned to
capitalise on these opportunities.
TVPlayer continues to roll out its service onto new platforms,
most recently adding Xbox and Roku. The company is now available on
ten platforms: desktop, iOS, Android, Windows, Amazon Fire TV,
Apple TV, EE TV, selected connected TVs, Xbox and Roku, with plans
later this year for Chromecast, Playstation and Freesat.
The ten different technology platforms, generate over 6 million
streams per month with an average of 34 minutes per stream,
TVPlayer is a data rich source that provides valuable analytics and
a valuable functionality to personalise the user experience such as
recommendations and interactive engagement.
YOLO initially invested into Simplestream in February 2015 and
the TVPlayer subsequently demerged in September 2016. Both are
private businesses that have not disclosed their valuations to the
market, although their combined value had quadrupled by year end
2016 since Yolo's investment. Both the TVPlayer and Simplestream
businesses are well positioned to capitalise on the growth and user
opportunities within the UK and International markets.
GFinity plc ("Gfinity") investor summary: Gfinity is one of the
world's leading eSports companies and a premium eSports operator in
the UK, offering a uniquely integrated suite of branded assets that
give clients supreme opportunities to reach and engage with eSports
fans through both viewing and participation. Yolo invested into
Gfinity at the time of its listing on 23 December 2014. Yolo has
acquired 2,143,023 shares in the company at cost of GBP364,650.
In May 2017 Gfinity successfully completed an oversubscribed
placing with new and existing institutional and other investors to
raise proceeds of GBP6.25 million, with 31,250,000 Placing Shares
at 20 pence per share. Net proceeds of the placing will be deployed
for additional working capital purposes and to launch the Gfinity
Elite Series in the UK in summer 2017 and further establish its
position as a leader in the eSports industry, as well as develop
proprietary software, invest in personnel and invest in broadcast
technology.
eSports is a global term for organised multi-player video game
competitions particularly between professional players, that are
streamed on the internet and watched by hundreds of millions of
fans around the world. The global esports market is expected to
grow 41% to $696 million in 2017, according to a new report by
market researcher Newzoo and by 2020, esports revenues are expected
to grow to $1.49 billion, with the audience for esports forecast to
rise to 385 million during 2017 (up 19% on 2016).
The average eSports viewer watches content 19 times a month,
with a session length of 2.2 hours, this gives a total of 41.8
hours per month, compared to the average 23 hours per month watched
by football fans. eSports is unique in having a primary online
broadcast platform, offering brands a progressive way of
interacting with consumers. eSports is inherently social and
ideally placed to drive conversations and marketing across
Facebook, Twitter and Instagram.
Interim Results for Gfinity for the 6 months to 31 December 2016
show revenues up by 45% and operating losses down by 10% on the
same period in the prior year and cash equivalents of GBP2.7m (30
June 2016: GBP0.8m and 31 December 2015: GBP1.6m).
Audioboom Group plc ("Audioboom") investor summary: Audioboom is
a leading global podcasting platform that consolidates the business
of on-demand audio, making content accessible, wide-reaching and
profitable for podcasters, advertisers and brands. Yolo originally
invested on 24 February 2015 and as at the balance sheet date held
3,500,000 shares at a cost of GBP275,654. This was increased on 4
April 2017 to 5,340,000 shares of the company's issued share
capital taking the total cost of the investment in Audioboom to
GBP321,914.
Audioboom completed a raise of GBP4.5m of new money in April
2017 to provide the company with working capital, technical
development and creative initiatives. Over 75 million people
listened to a "Boom" in the month of April from its global digital
media platform. The Podcasting industry is growing rapidly and
Audioboom is well positioned to take advantage of this development
by matching targeted advertising to engaged audiences. The
engagement metric KPIs during the period broke all year-on-year
records and revenue generation has turned, exceeding expectations
for the year.
A recent research survey carried out on more than 8,000
listeners in the UK and USA by Edison for Audioboom found that the
average listener aged between 25 and 44 is listening to Podcasts
for an average of two hours per day.
Revenues for the FY ending 30 November 2016 increased by GBP1.1m
to GBP1.3m (2015: GBP0.2m) and adjusted EBITDA improved by GBP1.1m
to a loss of GBP4.6m (2015: loss of GBP5.7m). According to the
company's 2017 second quarter update, revenues for the six months
ended 31 May 2017 of at least GBP1.8m for H1 from GBP329k in H1
2016, demonstrating good momentum.
The company KPI's for the year end November 2016 were all
significantly up on prior year with; unique users: 58.6m +101%,
total available advertising impressions: 242m +450%, total unique
file requests: 430m +145%.
The momentum has continued into the 2017 financial year, For the
H1 2017 interim update unique users have continued to grow to 81m
and the company reported that over GBP3 million of advertising
campaigns have been booked to occur in the financial year.
Issue of new Equity and Warrants
On 7 November 2016 the Company completed a placing 254,000,000
shares at 1.0p each raising total gross funds of GBP2,540,000 and
issued warrants for 50,800,000 shares at an exercise price of 1.3p.
A further 8,400,000 ordinary 1.0p shares were issued as fee shares.
Simon Robinson was awarded 9,000,000 warrants at an exercise price
of 1.3p.
Post balance sheet events
On the 2 of June 2017 the Company announced the conversion of
its Loan Notes of GBP1.415m in Magic Media Works Ltd to 2,673,661
ordinary shares taking a 41.43% holding in Magic. Furthermore Magic
completed a pre-IPO funding round through the issue of GBP1.2m new
Convertible Loan Notes (the "New Loan Notes"). GBP1.0m of the raise
has been secured through additional funding from new and existing
investors, with the balance consisting of the capitalisation of
part of a loan account due to Rob Lewis, founder and CEO of Magic.
Yolo has subscribed for GBP500,000 of the New Loan Notes.
On conversion, the New Loan Notes will convert into ordinary
shares in Magic at a 33% discount to the share price on an Initial
Public Offering ("IPO") of Magic shares to the Stock Market. In the
event that such an IPO does not occur by 1 December 2017, the New
Loan Notes will thereafter accrue interest at 10% per annum. The
New Loan Notes are repayable on 1 December 2019.
Magic has appointed FinnCap Limited as Corporate Finance Advisor
to advise on its corporate finance strategy.
The Board continues to evaluate and consider investment
opportunities in the technology, travel, leisure and media sectors
and will only make investments in those projects which the Board
believes will create value for shareholders.
I would also like to thank our shareholders and advisors for
continuing to support the board and our vision.
Simon Robinson
Chairman
27 June 2017
INTERIM STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHSED 31 MARCH 2017
Unaudited Unaudited
six months ended six months
ended
31 March 2017 31 March 2016
Notes GBP GBP
Other income 17,096 7,000
Unrealised gain/(loss) on
remeasurement to fair value 3 178,121 (318,506)
Administrative expenses (143,794) (127,917)
PROFIT / (LOSS) FROM OPERATIONS
BEFORE FINANCING ACTIVITIES 51,423 (439,423)
Finance income 10,630 5
PROFIT / (LOSS) BEFORE TAX 62,053 (439,418)
----------------- --------------
Tax - -
PROFIT / (LOSS) FOR THE
PERIOD 62,053 (439,418)
----------------- --------------
TOTAL COMPREHENSIVE INCOME
/ (EXPENSE)
FOR THE PERIOD 62,053 (439,418)
================= ==============
Profit / (Loss) before tax and total comprehensive income /
(expense) for the period are all attributable to the equity
shareholders of the parent.
Profit / (Loss) per share
Basic 0.016p (0.29)p
======= ========
Diluted 0.014p (0.29)p
======= ========
Income and profit from operations for the current period all
derive from continuing operations.
INTERIM STATEMENT OF FINANCIAL POSITION
FOR THE SIX MONTHSED 31 MARCH 2017
Unaudited Audited
31 March 30 September
2017 2016
Notes GBP GBP
ASSETS
Non-current assets
Investments 3 3,014,338 1,127,262
3,014,338 1,127,262
------------ -------------
Current assets
Trade and other receivables 33,757 17,214
Cash and cash equivalents 4 940,692 139,412
------------ -------------
974,449 156,626
------------ -------------
TOTAL ASSETS 3,988,787 1,283,888
============ =============
EQUITY AND LIABILITIES
Equity
Share capital 5 5,206,954 2,582,954
Share premium account 7,574,273 7,617,273
Retained earnings (8,931,302) (8,993,355)
Total equity attributable to equity
holders of the parent 3,849,925 1,206,872
------------ -------------
Current liabilities
Trade and other payables 138,862 77,016
Total liabilities 138,862 77,016
------------ -------------
TOTAL EQUITY AND LIABILITIES 3,988,787 1,283,888
============ =============
INTERIM STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHSED 31 MARCH 2017
Share
Share Premium Retained
capital Account Earnings Total
GBP GBP GBP GBP
Audited as at 1 October
2015 2,182,954 7,439,303 (8,371,825) 1,250,432
Total comprehensive
expense for the period - - (439,418) (439,418)
Share issue 400,000 200,00 - 600,000
Cost of new issue - (22,030) - (22,030)
Unaudited as at 31
March 2016 2,582,954 7,617,273 (8,811,243) 1,388,984
========== ========== ============ ============
Audited as at 1 October
2016 2,582,954 7,617,273 (8,993,355) 1,206,872
Total comprehensive
income for the period - - 62,053 62,053
Share Issue 2,624,000 - - 2,624,000
Cost of new issue - (43,000) - (43,000)
Unaudited as at 31
March 2017 5,206,954 7,574,273 (8,931,302) 3,849,925
========== ========== ============ ============
All equity is attributable to equity shareholders of the
parent.
Share premium
Represents amounts subscribed for share capital in excess of its
nominal value, net of directly attributable issue costs.
INTERIM STATEMENT OF CASH FLOWS
FOR THE SIX MONTHSED 31 MARCH 2017
Unaudited Unaudited
six months six months
ended ended
31 March 2017 31 March 2016
GBP GBP
Operating activities
Profit / (Loss) before tax 62053 (439,418)
(Gain) / Loss on current fair
value adjustment (178,121) 318,506
Changes in working capital:
(Increase) / Decrease in trade
and other receivables (16,543) 8,806
Increase / (Decrease) in trade
and other payables 61,846 (18,987)
Net finance cost 195
Net cash (used)/generated in
operating activities (70,570) (131,093)
-------------- --------------
Investing activities
Interest received 15 -
Investments (1,708,955) (257,385)
Net cash used in investing activities (1,708,940) (257,385)
-------------- --------------
Financing activities
Net proceeds from issue of shares 2,581,000 577,970
Interest paid (210) -
Net cash used in financing activities 2,580,790 577,970
-------------- --------------
Taxation - -
Net increase / (decrease) in
cash and cash equivalents 801,280 189,492
Cash and cash equivalents at the start
of the period 139,412 41,901
-------------- --------------
Cash and cash equivalents at the end
of the period 940,692 231,393
============== ==============
NOTES TO THE INTERIM FINANCIAL INFORMATION
FOR THE SIX MONTHSED 31 MARCH 2017
1 General information
YOLO Leisure & Technology Plc ('the Company') is an
investment company as defined under AIM Rule 15.
The Company is a publicly listed company on AIM, is incorporated
and domiciled in England and its registered office is 4 More London
Riverside, London, SE1 2AU.
This interim financial information was approved for issue on 27
June 2017.
2 Accounting policies
2.1 Basis of preparation
The interim financial information comprises the Statements of
Financial Position at 31 March 2017 and 30 September 2016 and the
Statements of Comprehensive Income, Changes in Equity and Cash
Flows for the periods ended 31 March 2017 and 31 March 2016 and the
related notes of YOLO Leisure & Technology Plc, (hereinafter
referred to as 'the interim financial information).
The interim financial information has been prepared in
accordance with IAS 34, 'Interim Financial Reporting' as adopted by
the European Union. In preparing this information, management have
used the accounting policies set out in the Company's annual
financial statements as at 30 September 2016.
This interim financial information does not constitute a set of
statutory accounts under the requirements of the Companies Act 2006
and is neither audited nor reviewed. The comparative figures for
the financial year ended 30 September 2016 are an extract from the
Company's 2016 financial statements, which have been reported on by
the Company's auditors and delivered to the Registrar of Companies.
The report of the auditors was unqualified.
This document (the Interim Statement 2017) will be published on
the company's website and will be publicly available from the
London Stock Exchange regulatory publications. The maintenance and
integrity of the YOLO Leisure & Technology Plc website is the
responsibility of the directors. Legislation in the UK governing
the preparation and dissemination of accounts may differ from
legislation in other jurisdictions.
2.2 Going concern
The company's activities, together with the factors likely to
affect its future development and performance, the financial
position of the company, its cashflow and liquidity position have
been considered by the directors and the Board is of the opinion
that there are sufficient funds available to continue as a going
concern for the foreseeable future. The Board is also planning to
raise additional funds to continue to carry out its investment
strategy as opportunities arise. Accordingly the Board consider it
appropriate to adopt the going concern basis in preparing these
condensed financial statements.
2.3 Investments
Financial assets and liabilities are fair valued using a
hierarchy that reflects the significance of the inputs used in
making the fair value assessment. The fair value hierarchy has the
following levels:
Level 1: quoted prices (unadjusted) in active markets for
identical assets or liabilities.
Level 2: inputs other than quoted prices for identical assets or
liabilities, either directly (i.e. as prices) or indirectly (i.e.
derived from prices).
Level 3: inputs for the assets or liabilities that are not based
on observable market data (unobservable inputs).
3 Investments
Level Level 3 UnauditedTotal
1
GBP GBP GBP
Audited fair value
at 30 September 2016 300,588 826,674 1,127,262
Cost of acquisitions
during the period - 1,708,955 1,708,955
Unrealised loss on
remeasurement to fair
value 178,121 - 178,121
Unaudited fair value
at 31 March 2017 478,709 2,535,629 3,014,338
========== ============ ===============
4 Cash and cash equivalents
For the purpose of the interim cash flow statement, cash and
cash equivalents are comprised of the following:
Unaudited Unaudited
31 March 31 March
2017 2016
GBP GBP
Cash at bank and in
hand 940,692 231,393
========== ==========
5 Share capital Unaudited Unaudited
six months six months
ended ended
31 March 2017 31 March 2016
GBP GBP
Issued and
fully paid
As at 31 March 2016
Ordinary shares (178,922,758 shares
of 1p each) 1,789,228 1,375,526
Deferred shares (8,819,181 shares
of 9p each) 793,726 793,726
Warrant exercised (1,370,211 shares
of 1p each) - 13,702
20 January 2016 share placement (40,000,000
shares of 1p each) - 400,000
7 November 2016 share placement (262,400,000
shares of 1p each) 2,624,000 -
5,206,954 2,582,954
============== ==============
Dividends paid and
6 proposed
Equity dividends on ordinary
shares:
No interim dividend was paid or is proposed for the
half year ended 31 March 2017.
Profit/(loss)
7 per share
The calculations of profit/(loss) per share are based on the
following results and number of shares:
Unaudited Unaudited
six months six months
ended ended
31 March 2017 31 March 2016
GBP GBP
Profit / (Loss) for the
financial period 62,053 (439,418)
============== ==============
Weighted average number
of shares for diluted
loss per share 396,796,884 181,075,272
============== ==============
Weighted average number
of shares for basic loss
per share 387,977,703 153,531,137
============== ==============
At 31 March 2017, the number of ordinary shares in issue was
441,322,758.
In accordance with the provisions of IAS 33 for the periods
ended 31 March 2017, 30 September 2016 and 31 March 2016, shares
under option were not regarded as dilutive in calculating earnings
per share.
Seasonality of interim
8 operations
YOLO Leisure & Technology Plc does not operate in a seasonal
or cyclical business environment.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR XDLFLDQFZBBD
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