TIDMWEB

RNS Number : 7991T

Webis Holdings PLC

29 November 2021

7.00am 29 November 2021

Webis Holdings plc

("Webis" or the "Company")

Delay in publication of the Annual Report and Consolidated Financial Statements for the year ended 31 May 2021

The board of Webis hereby notifies shareholders that the completion of the audit of the accounts for the Company, for the year ended 31 May 2021 (the "Accounts") are delayed due to a Covid-19 related issue. Unfortunately, the completion of an annual report from Deloitte USA reviewing the activities of AmTote - the third-party wagering hub provider to Watch&Wager LLC - is delayed as a result of the pandemic. Our auditors, KPMG, are obliged under standard IFRS audit procedures to use this report to provide the verification required to complete the audit by 30 November 2021. The Board is confident that the verification is merely a matter of procedure only and will occasion no change to the Accounts which are anticipated to contain an unqualified audit report. Accordingly, the Company has agreed with AIM an extension to 28 February 2022 for the publication deadline of its Accounts. Every effort is being made to complete the Accounts as soon as possible and they will be published via RNS thereafter.

Meanwhile, the board of Webis provides the following trading update for the year-ended 31 May 2021 which anticipates a US$ 1.1 million uplift in profitability over the previous year: -

Consolidated Statement of Comprehensive Income

For the year ended 31 May 2021

 
 
 
                                                                                             U naudited 
                                                                                                   2021         2020 
                                                                                                 US$000       US$000 
----------------------------------------------------------------------------------------  -------------  ----------- 
Amounts wagered                                                                                 132,149    105,325 
----------------------------------------------------------------------------------------  -------------  --------- 
 
Revenue                                                                                          55,668       43,436 
Cost of sales                                                                                  (49,757)     (38,820) 
Betting duty paid                                                                                 (114)         (83) 
----------------------------------------------------------------------------------------  -------------  ----------- 
Gross profit                                                                                      5,797        4,533 
----------------------------------------------------------------------------------------  -------------  ----------- 
Operating costs                                                                                 (5,314)      (4,908) 
Impairment movement on trade receivables                                                              7         (18) 
Re-organisational and other costs                                                                     -         (28) 
Other gains / (losses)                                                                                2         (29) 
Government grant                                                                                    272           48 
Other income                                                                                        185          212 
Operating profit / (loss)                                                                           949        (190) 
----------------------------------------------------------------------------------------  -------------  ----------- 
Finance costs                                                                                     (125)         (94) 
----------------------------------------------------------------------------------------  -------------  ----------- 
Profit / (loss) before income tax                                                                   824      (284) 
----------------------------------------------------------------------------------------  -------------  --------- 
Income tax expense                                                                                    -            - 
----------------------------------------------------------------------------------------  -------------  ----------- 
Profit / (loss) for the year                                                                        824      (284) 
----------------------------------------------------------------------------------------  -------------  --------- 
 
  Other comprehensive income: 
Items that may be subsequently reclassified to profit or loss: 
Currency translation differences on disposal of foreign subsidiaries                                  -            - 
----------------------------------------------------------------------------------------  -------------  ----------- 
Other comprehensive profit / (loss) for the year                                                      -            - 
----------------------------------------------------------------------------------------  -------------  ----------- 
Total comprehensive profit / (loss) for the year                                                    824      (284) 
----------------------------------------------------------------------------------------  -------------  --------- 
Basic earnings per share for profit / (loss) attributable to the equity holders of the 
 Company 
 during the year (cents)                                                                           0.21       (0.07) 
----------------------------------------------------------------------------------------  -------------  ----------- 
Diluted earnings per share for profit / (loss) attributable to the equity holders of the 
 Company 
 during the year (cents)                                                                           0.20       (0.07) 
----------------------------------------------------------------------------------------  -------------  ----------- 
 
 

Statements of Financial Position

As at 31 May 2021

 
 
                                              Unaudited     Unaudited 
                                               31.05.21      31.05.21     31.05.20   31.05.20 
                                                  Group       Company        Group    Company 
                                                 US$000        US$000       US$000     US$000 
-------------------------------------------  ----------  ------------  -----------  --------- 
Non-current assets 
Intangible assets                                    12             -           30          - 
Property, equipment and motor vehicles              380             6          415          7 
Investments                                           -             3            -          2 
Bonds and deposits                                  101             -          101          - 
-------------------------------------------  ----------  ------------  -----------  --------- 
Total non-current assets                            493             9          546          9 
-------------------------------------------  ----------  ------------  -----------  --------- 
Current assets 
Bonds and deposits                                  882             -          882          - 
Trade and other receivables                       1,896           150        1,256        463 
Cash, cash equivalents and restricted cash        5,083         2,142        3,969      1,780 
-------------------------------------------  ----------  ------------  -----------  --------- 
Total current assets                              7,861         2,292        6,107      2,243 
-------------------------------------------  ----------  ------------  -----------  --------- 
Total assets                                      8,354         2,301        6,653      2,252 
-------------------------------------------  ----------  ------------  -----------  --------- 
 
  Equity 
Called up share capital                           6,334         6,334        6,334      6,334 
Share option reserve                                 42            42           42         42 
Retained losses                                 (4,684)       (5,516)      (5,508)    (5,526) 
-------------------------------------------  ----------  ------------  -----------  --------- 
Total equity                                      1,692           860          868        850 
-------------------------------------------  ----------  ------------  -----------  --------- 
Current liabilities 
Trade and other payables                          4,995            91        3,749         52 
Deferred income                                       -             -          272          - 
Loans, borrowings and lease liabilities            5 72          5 00           97          - 
-------------------------------------------  ----------  ------------  -----------  --------- 
Total current liabilities                        5,5 67         5 9 1        4,118         52 
-------------------------------------------  ----------  ------------  -----------  --------- 
Non-current liabilities 
Loans, borrowings and lease liabilities          1 ,095         8 5 0        1,667      1,350 
-------------------------------------------  ----------  ------------  -----------  --------- 
Total non-current liabilities                    1 ,095         8 5 0        1,667      1,350 
-------------------------------------------  ----------  ------------  -----------  --------- 
Total liabilities                                 6,662         1,441        5,785      1,402 
-------------------------------------------  ----------  ------------  -----------  --------- 
Total equity and liabilities                      8,354         2,301        6,653      2,252 
-------------------------------------------  ----------  ------------  -----------  --------- 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 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:

   Webis Holdings plc                  Tel:      01624 639396 

Denham Eke

   Beaumont Cornish Limited      Tel:      020 7628 3396 

Roland Cornish/James Biddle

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END

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