TIDMKASH
28 April 2023
KASEI HOLDINGS PLC
("Kasei" or the "Company")
Half-Year Results
Kasei Holdings PLC (AQSE: KASH), a digital asset and web 3.0 investment
company, announces its unaudited Half-Year results for the period ending 31
January 2023. The full unaudited financial statements will be uploaded to the
Company website: https://kaseiholdings.com/.
Highlights:
The company continues to invest in exciting use cases and projects in the space
such as a strategic investment in Alkimi.
https://www.alkimi.org/
Alkimi exchange is a decentralised replacement for inefficient legacy
programmatic ad exchanges with the mission to restore the value exchange
between advertisers, publishers and users. Alkimi is built on a directed
acyclic graph-a revolutionary blockchain technology which provides a fast,
scalable solution with 0% fraud, low transaction fees and complete end-to-end
transparency. Alkimi reestablishes the intended value exchange between users,
publishers and advertisers.
As part of the investment Kasei has received 500,000 tokens at a price of
$0.115 in addition to warrants.
Post-period highlights:
* The company has opened a position in GBTC (Grayscale Bitcoin Trust)
* Received investment of £164,099 from Aalto Capital at 12p per share
Outlook:
The Company acknowledges that there are still uncertainties and challenges that
lie ahead especially in the regulatory environment for Digital Assets but
remains positive on the future potential of the industry and sees encouraging
signs of progress of companies in the space. We believe that we will be in a
strong position to take advantage of opportunities as they arise.
The directors of Kasei Holdings PLC accept responsibility for this
announcement.
I would also like to take this opportunity to thank all our shareholders for
their support.
Brendan Kearns - Chief Financial Officer
For further information please contact:
Jai Patel info@kaseiholdings.com
Chief Investment Officer
First Sentinel
Corporate Adviser +44 7876 888 011
Brian Stockbridge brian@first-sentinel.com
KASEI HOLDINGS PLC
CONDENSED INCOME STATEMENT
For the period ended 31 January 2023
Unaudited Audited
period to period to
31 January 31 July 2022
2023
£ £
Notes
Continuing Operations
Turnover 5,594 3,464
Gross profit 5,594 3,464
Administrative expenses (145,665) (687,828)
Realised losses on Investments (76,257) -
Operating profit / (loss) (216,328) (684,364)
Tax on (loss)/profit 54,082 171,091
(Loss)/ profit for the (162,246) (513,273)
financial period
Other comprehensive income (31,656) (1,333,596)
Total comprehensive income for (193,902) (1,846,869)
the period
Basic earnings per share from
continuing operations
Basic (pence) 5 (0.007) (0.0635)
Diluted (pence) 5 (0.007) (0.0635)
KASEI HOLDINGS PLC
CONDENSED STATEMENT OF FINANCIAL POSITION
For the period ended 31 January 2023
Unaudited Audited
period to period to
31 January 31 July
2023 2022
£ £
Fixed Assets
Intangible assets 1,388,619 1,460,292
Investments - 250
1,388,619 1,460,542
Current assets
Trade and other receivables 243,140 189,058
Cash and cash equivalents 473,396 648,338
716,536 837,396
Total assets 2,105,155 2,297,970
Current liabilities
Amounts falling due within one year (58,557) (57,437)
Net current assets 657,979 779,959
Total assets less current liabilities 2,046,598 2,240,501
Net assets 2,046,598 2,240,501
Equity attributable to equity holder:
Share capital 290,617 290,617
Share premium 3,639,253 3,639,253
Other reserves (1,207,753) (1,176,096)
Profit and loss accounts (675,519) (513,273)
Total equity 2,046,598 2,240,501
KASEI HOLDINGS PLC
CONDENSED STATEMENT OF CHANGES IN EQUITY
For the period ended 31 January 2023
Share Share Other Retained Total
capital premium reserves earnings equity
£ £ £ £ £
At 31 July 2022 290,617 3,639,253 (1,176,096) (513,273) 2,240,501
Loss for the period - - - (162,246) (162,246)
Shares issued during the period - - - - -
Other reserves movement - - (31,656) - (31,656)
At 31 January 2023 290,617 3,639,253 (1,207,752) (675,519) 2,046,599
KASEI HOLDINGS PLC
CONDENSED STATEMENT OF CASH FLOWS
For the period ended 31 January 2023
Unaudited Audited
period to Period
31 January to 31 July
2023 2022
£ £
Cash flow from operating activities
(Loss) / profit before taxation (162,246) (513,273)
Adjusted for:
Impairments of fixed assets 30,391 (1,468,358)
Loss on disposal of intangibles 76,257 110,358
Taxation Charge (54,082) (171,091)
Increase/(decrease) in debtors - (17,967)
Increase in creditors 1,369 57,437
Net fair value gains/(losses) recognised in OCI (31,656) (1,333,595)
Net cash generated from operating activities (139,967) (399,773)
Cash flow from investing activities
Purchase of intangible assets (226,705) (3,958,693)
Sale of investing assets 191,730 919,685
Purchase of unlisted other investments - (250)
Net cash used in investing activities (34,975) (3,039,258)
Cash flow from financing activities
Issue of ordinary shares - 4,087,369
Net cash used in financing activities - 4,087,369
Net increase / (decrease) in cash and cash (174,942) 648,338
equivalents
Cash and cash equivalents at beginning of period 648,338 -
Cash and cash equivalents at end of period 473,396 648,338
KASEI HOLDINGS PLC
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
For the period ended 31 January 2023
1. General information
Kasei Holdings plc is a public limited company incorporated on 09 July 2021
within the United Kingdom. The company is domiciled in the United Kingdom and
its principal place of business is 72 Charlotte Street Ground Floor, London,
England, W1T 4QQ. The Company's ordinary shares are traded on the Aquis
Exchange.
These condensed interim financial statements for the period ending 31 January
2023 were approved by the board of directors on 12th April 2023.
The financial information set out in this interim report does not constitute
statutory accounts for the purposes of section 434 of the Companies Act (2006).
The interim financial statements have been prepared using accounting policies
inline with FRS 102, The Financial Reporting Standard applicable in the UK and
Republic of Ireland.
Copies of this interim report can be found on our website at
www.kaseiholdings.com or can be requested from the Company Secretary at the
Company's registered office: 72 Charlotte Street Ground Floor, London, England,
W1T 4QQ.
2. Basis of preparation
These interim financial statements for the period ended 31 January 2023 have
been prepared in accordance with FRS 104, The Financial Reporting Standard
applicable in the UK and Republic of Ireland.
3. Revenue and segmental results
The Company uses several factors in identifying and analysing reportable
segments, including the basis of organisation such as differences in products
and geographical areas. The Board of Directors, being the chief operating
decision makers, has determined that for the period ended 31 January 2023 there
is only one reportable operating segment.
4. Income tax charge
Income period tax is accrued based on the estimated average annual effective
income tax rate of 19 per cent.
KASEI HOLDINGS PLC
NOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)
For the period ended 31 January 2023
5. Earnings per share
Basic earnings per share is calculated by dividing the profit attributable to
ordinary shareholders by the weighted average number of ordinary shares
outstanding during the year.
Diluted earnings per share are calculated by dividing the profit attributable
to ordinary owners of the parent by the weighted average number of ordinary
shares outstanding during the year plus the weighted average number of ordinary
shares that would have been issued on the conversion of all dilutive potential
ordinary shares into ordinary shares.
The following reflects the income and share data used and dilutive earnings per
share computations:
Unaudited
Year to 31
January
2023
£
Profit / (loss) for the year attributable (193,902)
to owners of the Company
Number of shares
Basic weighted average number of shares 29,061,683
Effect of dilutive share options -
Diluted weighted average number of shares 29,061,683
6. Dividends
During the interim period no dividend was declared to holders of the Company's
ordinary shares in respect of the period ended 31 January 2023.
KASEI HOLDINGS PLC
NOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)
For the period ended 31 January 2023
7. Related party transactions
The Company has a related party relationship with its directors and related
companies.
Unaudited
6 months
to 31
January
2023
Other related parties £
Amounts owed by/(to) other related -
parties- KASEI Blockchain Ltd
Amounts owed by/(to) other related parties -
Unaudited 6 Audited
Months to period 31
31 January July 2022
2023
£ £
Directors Remuneration 22,250 22,250
22,250 22,250
For further information visit www.kaseiholdings.com or contact:
Email : info@kaseiholdings.com Kasei Holdings plc
END
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