OBERON GROUP

Half-Year Report

27 March 2019

BASKERVILLE CAPITAL PLC (“Baskerville” or “the Company”) Interim Report for the six months ended 31 December 2018

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Period events:

·     Loss of £53,146

·     Cash balances of over £1.5m at period end

Rodger Sargent, Chairman of Baskerville said: “Although there have been no public announcements, we have looked at a large number of possible transactions during the period. Due to either valuation, business model or quality of management, we have yet to identify an acquisition we feel meets our required standards. The search continues and we will update shareholders when possible.”

For further information, please contact:

Baskerville Capital plc www.baskcap.com

CHAIRMAN’S STATEMENT

Introduction

I am pleased to present the unaudited interim results for the period ended 31 December 2018. During this interim period, Baskerville recorded a loss of £53,146, being the minimal running costs of the Company. Cash assets at period end were over £1.5 million. 

Outlook

We continue to consider a number of potential investments within the technology sector.  When we have identified a company that has the potential to create significant shareholder value, we will update the market.

Rodger Sargent

Chairman

27 March 2019

INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS TO 31 DECEMBER 2018

INTERIM STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2018

UNAUDITED INTERIM STATEMENT OF CHANGES IN EQUITY 

INTERIM STATEMENT OF CASH FLOW FOR THE SIX MONTHS TO DECEMBER 2018

NOTES TO THE UNAUDITED INTERIM REPORT FOR THE PERIOD ENDED 31 DECEMBER 2017

1.    BASIS OF PREPARATION

The interim financial statements have been prepared on a going concern basis and in accordance with the recognition and measurement principles of International Financial Reporting Standards adopted for use in the European Union (“IFRS”).

The interim financial statements for the period ended 31 December 2018 have not been audited and do not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. 

This Interim Financial Report was approved by the Board of Directors on 27^thMarch 2019.

Statement of compliance

These condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard (‘IAS’) 34 – Interim Financial Reporting as adopted by the European Union. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements. The accounting policies that the Company has applied in the preparation of these interim financial statements are consistent with the policies described in the Company’s latest annual financial statements, being the accounts for the period to 30 June 2018.

Going concern

The Company reported a loss for the 6 month period ended 31 December 2018 of £53,146 (period ended 31 December 2017: £50,696). The Directors’ have considered the appropriateness of the going concern basis and note that as at the balance sheet date the Company has significant cash balances of £1.5 million which is sufficient to cover the anticipated on-going operating costs of the Company for a period of at least 12 months from the date that the interim financial statements will be approved. Accordingly, the Directors’ consider that the going concern basis of preparation remains appropriate.

2.    TURNOVER AND SEGMENTAL ANALYSIS

All of the Company’s activity and income and expenses in the period ended 31 December 2018 were incurred in the United Kingdom, and relate to Baskerville’s ongoing investment activities.

3.   LOSS PER SHARE

The calculation of the basis and diluted earnings per share is based on the following data:

The denominator for the purpose of calculating the basic earnings per share has been adjusted to reflect all capital raisings.

The nominal value of the shares is £0.005

The Company has 13,500,000 warrants in issue to the initial shareholders and the directors exercisable at either 2.5 pence or 7.5 pence per share which expire on the second anniversary of the Admission. 

5.    AVAILABILITY OF INTERIM RESULTS

Copies of the Interim Results for the period to 31 December 2018 are available from the Company’s registered address and will be available on the Company’s website, later today.

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