TIDMNFT
RNS Number : 4718E
NFT Investments PLC
30 June 2023
Press Release
30 June 2023
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014, as retained as part of
the law of England and Wales. Upon the publication of this
announcement via the Regulatory Information Service, this inside
information is now considered to be in the public domain.
NFT Investments PLC
("NFT Investments" or "the Company"")
Annual results
NFT Investments PLC (AQSE: NFT), an investment firm, announces
its audited results for the 12 months ended 31 December 2022.
Comments from Jonathan Bixby, Executive Chairman of NFT
Investments :
I am happy to report NFT Investments PLC's full year results for
2022.
As previously highlighted in the most recent announcement on 2
April 2023, the Group is now largely invested with over GBP27.8m
million in liquid crypto (unaudited), categorised as Intangible
Assets in the Balance Sheet. The rationale for these investments
was based on the historical price of BTC relative to the BTC
halving timeframe. The next scheduled halving will take place in
April 2024. The historical data suggests that BTC hits new highs
approximately three to four months post halving.
The results of the period show a reduction in Total Assets of
GBP9.4m from GBP34.5m to GBP25.1m, largely as a result of reduction
in valuation of Crypto assets at the height of the "Crypto winter".
We are pleased to note that there has been a substantial recovery
in Crypto prices since 31 December 2022. By taking the price of
Crypto tokens at 28 June 2023 and applying these to our Crypto
holdings at 31 December 2022, this shows that the uplift in
valuation would be from GBP15.2m to GBP23.3m, wiping out all but
GBP1.3m of the reduction in Total Assets in the period.
The Group's Directors have concluded that the correct approach
to the widening share price discount to NAV is to return value to
shareholders and the current intention is to do so after the BTC
halving currently scheduled to take place in April 2024. On 26, May
2023 shareholders approved this return of funds via a tender offer
for shares and the Company is in the middle of applying for the
consent of the Court for a reduction of capital required to create
distributable reserves. This process is expected to be completed in
early July 2023.
The Directors believe that these transparent actions coupled
with a willingness to ultimately return capital to shareholders is
the best approach given the wide discrepancy between the Company's
NAV and its current share price.
I would like to take this opportunity to thank all our
shareholders for their support last year and look forward to
updating them on a quarterly basis as we move towards the halving
next year.
Jonathan Bixby, Executive Chairman
The Directors of NFT Investments accept responsibility for this
announcement.
This announcement may contain "forward-looking" statements and
information relating to the Company. These statements are based on
the beliefs of Company management, as well as assumptions made by
and information currently available to Company management. The
Company does not undertake to update forward--looking statements or
forward--looking information, except as required by law.
For further information please contact:
NFT Investments
Jonathan Bixby
Executive Chairman +44 7876 888 011
-----------------
First Sentinel
-----------------
Corporate Adviser
Brian Stockbridge +44 7876 888 011
-----------------
Tennyson Securities
-----------------
Corporate Broker
Peter Krens +44 207 186 9030
-----------------
About NFT Investments:
NFT Investments PLC is an investment company specialising in the
market for non-fungible tokens ("NFTs") and is the first ever NFT
vehicle to list in a major jurisdiction worldwide. The Company
invests in a diversified portfolio of NFTs, cryptocurrency, and/or
in companies or funds which have exposure to NFT or blockchain
technology. The Company's leadership team have an extensive track
record in the cryptocurrency sector and previously founded Argo
Blockchain PLC, a global crypto miner. NFT Investments is
headquartered in London, UK and its shares are listed on the Aquis
Stock Exchange Growth Market under the ticker symbol NFT.
https://www.nftinvest.pro/
Statement of Profit or Loss and Other Comprehensive Income
For the year ended 31 December 2022
2022 2021
GBP GBP
Revenue - -
Loss on disposal of digital
assets and tokens (65,548) (205,580)
Profit on sale of investment - 1,602,444
Fair valuation movements (including
impairment and exchange differences)
in investments (2,686,079) 216,398
Fair valuation movements in
digital assets and tokens (5,465,486) (1,220,095)
--------------------------------------- ------------ ------------
(8,217,113) 393,167
Administrative expenses (1,556,872) (3,223,333)
--------------------------------------- ------------ ------------
Operating Loss (9,773,985) (2,830,166)
Finance income 402,083 115
--------------------------------------- ------------ ------------
Loss before and after taxation
and total comprehensive loss
for the year (9,371,902) (2,830,051)
--------------------------------------- ------------ ------------
Loss per ordinary share:
--------------------------------------- ------------ ------------
Basic loss per share on loss
for the year (0.93) (0.38)
Diluted loss per share on loss
for the year (0.93) (0.38)
The notes contained in the Company's Annual Report form part of
these financial statements.
Statement of Financial Position
For the year ended 31 December 2022
Group Company
---------------------------- ----------------------------
2022 2021 2022 2021
GBP GBP GBP GBP
--------------------------- -------------- ------------ -------------- ------------
Non-Current Assets
Intangible assets 15,448,382 6,917,916 15,448,382 6,917,916
Investments 3,691,186 5,559,308 3,691,187 5,559,308
--------------------------- -------------- ------------ -------------- ------------
Total non-current
assets 19,139,568 12,477,224 19,139,569 12,477,224
--------------------------- -------------- ------------ -------------- ------------
Current Assets
Trade and other
receivables 125,765 125,765 157,837 125,765
Cash and cash equivalents 5,847,274 21,903,724 5,815,201 21,903,724
--------------------------- -------------- ------------ -------------- ------------
Total current assets 5,973,039 22,029,489 5,973,038 22,029,489
--------------------------- -------------- ------------ -------------- ------------
Total assets 25,112,607 34,506,713 25,112,607 34,506,713
=========================== ============== ============ ============== ============
Shareholders' equity
Share capital 1,003,000 1,003,000 1,003,000 1,003,000
Share premium 33,323,133 33,323,133 33,323,133 33,323,133
Share based payments
reserve 2,925,908 2,925,908 2,925,908 2,925,908
Retained earnings (12,241,657) (2,869,755) (12,241,657) (2,869,755)
--------------------------- -------------- ------------ -------------- ------------
Total shareholders'
equity 25,010,384 34,382,286 25,010,384 34,382,286
--------------------------- -------------- ------------ -------------- ------------
Current Liabilities
Trade and other
payables 102,223 124,427 102,223 124,427
--------------------------- -------------- ------------ -------------- ------------
Total liabilities 102,223 124,427 102,223 124,427
--------------------------- -------------- ------------ -------------- ------------
Total equity and
liabilities 25,112,607 34,506,713 25,112,607 34,506,713
=========================== ============== ============ ============== ============
The notes contained in the Company's Annual Report form part of
these financial statements.
The financial statements were approved by the Board of Directors
on 28 June 2023 and were signed on its behalf by:
Nicholas Lyth
Director
The financial information set out in this announcement does not
constitute statutory accounts. This financial information has been
extracted from the audited full accounts of the Company for the
year ended 31 December 2022. The Company does not declare a
dividend for the period.
The full Annual Report of the Company will be available on the
Company's website: www.nftinvest.pro .
The Directors of the Company accept responsibility for the
contents of this announcement.
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END
NEXFFFIVRLIAFIV
(END) Dow Jones Newswires
June 30, 2023 02:00 ET (06:00 GMT)
Phoenix Digital Assets (AQSE:PNIX)
過去 株価チャート
から 4 2024 まで 5 2024
Phoenix Digital Assets (AQSE:PNIX)
過去 株価チャート
から 5 2023 まで 5 2024
