Interim Financial Statements - 31 December 2023

Source: RNS
RNS Number : 6065H
450 PLC
20 March 2024
 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

 

LEI number: 2138004EUUU11OVHZW75

450 plc

(the "Company")

Interim Financial Statements for the period ended 31 December 2023

The Company announces the publication of its Interim Financial Statements for the period ended 31 December 2023.

 

The Interim Financial Statements are also available on the 'Shareholder Documents' page of the Company's at www.450plc.com. 

 

Key highlights

Activity during the period and strategy

The Company's adopted investing policy is to focus on building a market leader in the traditional and digital creative industries, capitalising on the ongoing transformation of the content, media and technology sectors.

It is anticipated that the Company will acquire controlling or non-controlling stakes in one or more businesses or companies (quoted or private) on a long-term basis, including the consideration of public offers for, or mergers with, existing listed businesses. The investments made by the Company may be in the form of equity or other types of capital investment.

The Directors believe that opportunities exist to create significant value for shareholders through properly executed, acquisition-led growth strategies arising within the traditional and digital creative industries encompassing the content, media and technology sectors. The Company's principal focus will be on making investments in the UK, Europe or North America and will target companies with either a well-established presence in their specific segments or companies which are in a position to become leaders in their specific segments.

The ongoing digital transformation of the media and entertainment industries and widespread adoption of digital media has led to a fundamental change in the way content is created, consumed and engaged with. Audiences and consumers are engaging with content across multiple formats, including experiential and immersive media, utilising both physical and digital delivery, alongside the associated emergence of augmented and virtual reality technologies. The investment policy is included in full on the Company's website at www.450plc.com.

 

Outlook

The Board continue to see promising opportunities for investment in the content, media, and technology sectors but remain cautious in their views on valuations and the importance of identifying scalable and sustainably profitable business models. The Board believe the ongoing technological advancements and shifts in consumer behaviour are likely to provide investment opportunities in a sector undergoing structural change, with the Company's listed status and investment thesis being well placed to capitalise on.

 

Results

The Group's loss after taxation for the period to 31 December 2023 was £255,785 (31 December 2022: loss of £557,820). The Group held a cash balance at the period end of £3,908,829 (as at 30 June 2023: £4,148,886).

 

Enquiries:

450 plc

Tel:+44(0)207 004 2700

Waheed Alli

James Corsellis

 

Deutsche Numis (Nominated Adviser)

Tel:+44(0)207 260 1000

Kevin Cruickshank

Jamie Loughborough

 

 

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