Share capital 12 - - Share premium 643 623 Share based payment reserve 26 25 Retained earnings (310) (210) Total equity 359 438
The financial statements of Veni Vidi Vici Ltd (registered number 196048) were approved by the Board of Directors and authorised for issue on 7 June 2021 and were signed on its behalf by:
Mahesh Pulandaran Donald Strang
Director Director
The accompanying accounting policies and notes form part of these financial statements. Statement of changes in equity for the year ended 31 December 2020
__________________________________________________________________________________________
Share Share Share based payment Retained
reserve Total
capital premium earnings
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 31 December 2018 - 628 25 (103) 550
Loss for the period - - - (107) (107)
Total Comprehensive Income - - - (107) (107)
Share issue costs - (5) - - (5)
Total contributions by and distributions to owners of the - (5) - - (5)
Company
At 31 December 2019 - 623 25 (210) 438
Loss for the period - - - (100) (101)
Total Comprehensive Income - - - (100) (101)
Issue of share capital - 20 - - 20
Share based payments - - 1 - 1
Total contributions by and distributions to owners of the - 20 1 - 21
Company
At 31 December 2020 - 643 26 (310) 359 The accompanying accounting policies and notes form part of these financial statements. Statement of cash flows for the year ended to 31 December 2020
__________________________________________________________________________________________
Year ended Year ended
31 Dec 2020 31 Dec 2019
GBP'000 GBP'000
Cash flows from operating activities
Operating loss (100) (107)
Share based payment charge 1 -
Issue of shares to settle liabilities 20
(Increase) in trade and other receivables - (12)
(Decrease)/increase in trade and other payables (3) 18
Net cash outflow in operating activities (82) (91)
Financing activities
Issue of share capital - -
Issue costs - (5)
Net cash inflow/(outflow) from financing activities - (5)
Net decrease in cash and cash equivalents (82) (96)
Cash and cash equivalents at beginning of period 354 450
Cash and cash equivalents at end of period 272 354
Non cash transactions
During the year, the Company issued 40,000 shares for GBP20,000 to settle certain outstanding liabilities.
The accompanying accounting policies and notes form part of these financial statements. Notes to the financial statements
__________________________________________________________________________________________
General information
1
Veni Vidi Vici Ltd is a company incorporated on 14 November 2017 in the British Virgin Islands ("BVI")
under the BVI Business Companies Act 2004. The address of its registered office is Vistra Corporate
Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands. The Company's
ordinary shares are traded on the AQSE Growth Market as operated by Aquis Stock Exchange ("AQSE").
The financial statements of Veni Vidi Vici Ltd for the year ended 31 December 2020 were authorised for
issue by the Board on 7 June 2021 and the statements of financial position signed on the Board's behalf
by Mahesh Pulandaran and Donald Strang.
Investing policy
The investment strategy of the Company is to provide Shareholders with an attractive total return
achieved primarily through capital appreciation. The Directors believe that there are numerous investment
opportunities within both private and public businesses in the Base Metals and Precious Metals sector in
North America and Australia.
The Board, through its extensive network of contacts, has identified a number of potentially interesting
investment opportunities, although formal discussions in respect of any of these opportunities have not
yet commenced.
The Company is likely to be an active investor and acquire control of certain target companies although
it may also consider acquiring non-controlling shareholdings. The proposed investments to be made by the
Company may be in either quoted or unquoted securities and made by direct acquisition of an interest in
companies, partnerships or joint ventures, or direct interests in projects and can be at any stage of
development. Accordingly, the Company's equity interest in a proposed investment may range from a
minority position to 100 per cent. ownership and a controlling interest.
If the Company takes a controlling stake, the acquisition could trigger a Reverse Takeover under Rule 57
of the AQSE Exchange Rules.
The Directors intend to acquire one or more investments in quoted or unquoted businesses or companies (in
whole or in part) thereby creating a platform for further investments. The Company may need to raise
additional funds for these purposes and may use both debt and/or equity.
The Directors and the Technical Adviser believe that their broad, collective experience, together with
their extensive network of contacts, will assist them in identifying, evaluating and funding suitable
investment opportunities. External advisers and investment professionals, over and above the Technical
Adviser, will be engaged as necessary to assist with sourcing and due diligence of prospective
opportunities. The Directors will also consider appointing additional directors with relevant experience
if the need arises.
It is anticipated that returns to Shareholders will be delivered primarily through an appreciation in the
price of the Ordinary Shares rather than capital distribution via regular dividends. In addition, there
may be opportunities to spin out businesses in the form of distributions to Shareholders or make trade
sales of business divisions and therefore contemplate returns via special dividends. Given the nature of
the investment strategy, the Company does not intend to make additional regular and periodic disclosures
or calculations of net asset value outside of the requirements for a AQSE Growth Market traded company.
It is anticipated that the Company will hold investments for the medium to long term, although where
opportunities exist for shorter term investments, the Company may undertake such investments.
Notes to the financial statements (continued)
__________________________________________________________________________________________
Investing policy (continued)
In compliance with Rule 51 of the AQSE Exchange Rules, if the Company (as an Investment Vehicle) has not
substantially implemented its investing policy after the period of one year following Admission, it will
seek Shareholder approval in respect of the subsequent year for the further pursuit of its investment
strategy.
Pursuant to Rule 52 of the AQSE Exchange Rules, the Company (as an Investment Vehicle), is required to
substantially implement its investment strategy within a period of two years following Admission. In the
event that the Company has not undertaken a transaction constituting a Reverse Takeover under Rule 57 of
the AQSE Exchange Rules, or if it has otherwise failed to substantially implement its investment strategy
within such two year period, AQSE Exchange will suspend trading of the Company's Issued Share Capital in
accordance with Rule 78 of the AQSE Exchange Rules. If suspension occurs, the Directors will consider
returning the Company's cash to Shareholders after deducting all related expenses.
(MORE TO FOLLOW) Dow Jones Newswires
June 07, 2021 11:52 ET (15:52 GMT)
