30 June 2016
Globe Capital
Limited
("Globe Capital"
or “the Company”)
Trading Statement
Update Q1 2016
Globe Capital is pleased to publish a trading statement for the
first quarter ending 31 March
2016.
Key Highlights:
-
Raised £100,500 in new equity
-
First investment in Sterling
Craig
-
Realigned investment focus towards the retail sector and
menwear.
Review of Business and Key
Developments:
During the period under review, the Company has kept costs at a
minimum level with operating expenses for the period at £57,000.
Net assets amounted to £14,000 with cash of £19,000.
In January 2016, the Company
raised £100,500 in new equity with proceeds used to support the
Company’s working capital requirements.
The Company has realigned its investment focus towards the
retail sector with a particular emphasis on menswear. In line with
the new investment focus, the Company acquired a 25% stake in
Sterling Craig Ltd for £12,500 in cash. Sterling Craig is an online retailer and
provides an opportunity for the Company to enter the men’s retail
fashion business.
In January 2016, Wong Xinyan left
the Company while I was appointed your Chairman.
The Directors are presently reviewing a number of investment
opportunities and expects to raise additional funds in the near
future to support working capital requirements and investment
plans.
Chairman
David
Barnett
30 June 2016
The directors of Globe Capital Ltd accept responsibility for
this announcement.
For further information:
Globe Capital Limited
Christopher Neo, Company Secretary
+44 (0)20 3286 6388
http://www.globecapitalltd.com/
ISDX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott – Corporate Finance
James Dewhurst – Institutional
Sales
Telephone: +44 (0) 20 7448 9820
http://www.ad-securities.com
49 Queen Victoria Street,
London EC4N 4SA