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Safe Harbour Hldngs (SHH)

Safe Harbour Hldngs

Interim Results
RNS Number : 8720M
Safe Harbour Holdings PLC
19 September 2019
 

19 September 2019

LEI number: 213800AU26HH5KXBS796

 

Safe Harbour Holdings plc

("Safe Harbour" or the "Company")

Interim Report for the six months ended 30 June 2019

London, 19 September 2019 - Safe Harbour Holdings plc announces its interim results for the six months ended 30 June 2019.

Safe Harbour aims to become a global leader in B2B distribution and/or business services, through a well-executed buy-and-build strategy. Safe Harbour intends to initially acquire a controlling stake in a platform asset of scale, which operates in a sector demonstrating a large addressable market opportunity, a steady growth outlook, and a high level of fragmentation allowing the deployment of a meaningful buy-and-build strategy to capitalise on economies of scale. As a team, we intend to draw upon our managerial and operational experience in consolidation and integration to drive business transformation to achieve attractive, long-term compounding returns for our shareholders.

Over the period, Safe Harbour generated a loss after taxation of £1.2 million, reflecting operating expenses and diligence costs incurred in the continued pursuit of its investment strategy. As at 30 June 2019, Safe Harbour held £25.6 million in cash.

Rodrigo Mascarenhas, Safe Harbour's Chief Executive Officer, commented: "During the period we reviewed, and continue to engage with, a number of potentially attractive assets. We are assessing a wide universe of assets across a number of sectors that we believe are commercially attractive. We remain committed to securing a compelling platform asset for Safe Harbour which meets our investment criteria and disciplined approach to valuation".

The Interim Report is also available on the Company's website at www.safeharbourplc.com

Enquiries:

 

Cenkos Securities plc (Nominated Adviser and Joint Broker)

Tel: +44(0)207 397 8900

Stephen Keys

Harry Hargreaves

 

Tulchan Communications (PR Adviser)

Tel: +44 20 7353 4200

Tom Murray

Suniti Chauhan

Matt Low

Amber Ahluwalia

 

Safe Harbour Holdings plc

Unaudited Interim Condensed Consolidated

For the six months ended 30 June 2019

 

SAFE HARBOUR HOLDINGS PLC 

Company number 123821

CHAIRMAN'S STATEMENT AND STRATEGIC REPORT

 

I am pleased to present to shareholders the Interim Condensed Consolidated Financial Statements of Safe Harbour Holdings plc (the "Company") for the six months ended 30 June 2019, consolidating the results of Safe Harbour Holdings plc, Safe Harbour Holdings UK Limited and Safe Harbour Holdings Jersey Limited (collectively, the "Group" or "Safe Harbour").

 

Strategy

Safe Harbour aims to become a global leader in B2B distribution and/or business services, through a well-executed buy-and-build strategy. As a team, we intend to draw upon our managerial and operational experience in consolidation and integration to drive business transformation to achieve attractive, long-term compounding returns for our shareholders.

 

Safe Harbour initially intends to acquire a controlling stake in a platform asset of scale, which operates in a sector demonstrating a large addressable market opportunity, a steady growth outlook, and a high level of fragmentation allowing the deployment of a meaningful buy-and-build strategy to capitalise on economies of scale. It is likely that this platform asset will have operations in the UK, Europe, or North America. We seek businesses that demonstrate stable operating performance and high cash flow conversion, and benefit from competitive barriers to entry. Safe Harbour's strategy remains to prioritise assets outside competitive auction processes and situations where the Directors believe Safe Harbour has a distinct advantage in acquiring the assets at attractive valuations.

 

We believe that the publicly-listed nature of our vehicle offers us flexibility in structuring transactions and allows us to unlock opportunities that may not otherwise be available to typical financial sponsors.

 

Results and Developments in the Period

The Group's loss after taxation for the six months to 30 June 2019 was £1,152,704 (30 June 2018: £1,166,892). In the six months to 30 June 2019, the Group incurred £1,252,697 (30 June 2018: £1,194,680) of administrative expenses, received interest of £99,993 (30 June 2018: £27,788) and at the period end held a cash balance of £25,650,272 (31 December 2018: £26,904,510).

 

In June 2019, we strengthened our executive management team with the appointment of James Brotherton as Chief Financial Officer and Executive Director. James joined Safe Harbour in June 2019 from Tyman plc, where he held the role of Chief Financial Officer for eight years, successfully consolidating multiple acquisitions across various geographies and end markets. James also brings a wealth of experience in capital markets, having previously been a Director of Investment Banking at Citi. We are delighted to welcome James to the team.

 

Dividend Policy

The Company has not yet acquired a trading business and the Directors therefore consider it inappropriate to make a forecast of the likely level of any future dividends. The Directors intend to determine the Company's dividend policy following completion of the Company's first acquisition and, in any event, will only commence the payment of dividends when it becomes commercially prudent to do so. There are no arrangements in place under which future dividends are to be waived or agreed to be waived.

 

Risks

The Directors have carried out a robust assessment of the principal risks facing the Group including those that would threaten its business model, future performance, solvency or liquidity. There have been no changes to the principal risks described in the Group's annual consolidated financial statements for the year ended 31 December 2018. The Directors are of the opinion that the risks are applicable to the six month period to 30 June 2019, as well as the remaining six months of the financial year. Further detail in relation to the risks faced by the Group can be found on pages 13-15 of the Group Annual Report and Financial Statements for the year ended 31 December 2018, which is available on the Company's website.

 

Outlook

The Group remains committed to its strategy as an acquisition vehicle and continued to evaluate multiple assets in the period. While the Group reviewed a number of attractive assets, we remain firmly committed to seeking an asset that meets our strict investment criteria. We remain active in pursuing targets across our broad global mandate and remain confident about acquiring an attractive platform business for our shareholders.

 

 

Avril Palmer-Baunack

Rodrigo Mascarenhas

Chairman

Chief Executive Officer

18 September 2019

18 September 2019

 

SAFE HARBOUR HOLDINGS PLC 

Company number 123821

RESPONSIBILITY STATEMENT

 

Each of the Directors confirm that, to the best of their knowledge:

 

(a)   these Unaudited Interim Condensed Consolidated Financial Statements have been prepared in accordance with IAS 34 "Interim Financial Reporting" as adopted by the European Union, give a true and fair view of the assets, liabilities, financial position and profit or loss of Safe Harbour; and

 

(b)   these Unaudited Interim Condensed Consolidated Financial Statements comply with the requirements of Rule 18 of the AIM Rules for Companies and Article 106 of the Companies (Jersey) Law 1991, as amended.

 

Neither the Company nor the Directors accept any liability to any person in relation to the interim financial report except to the extent that such liability could arise under applicable law.

 

Details on the Company's Board of Directors can be found on the Company website at www.safeharbourplc.com.

 

 

By order of the Board

 

 

 

Rodrigo Mascarenhas

Chief Executive Officer

18 September 2019           

 

SAFE HARBOUR HOLDINGS PLC 

Company number 123821

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

 

 

 

Six months ended

 

Six months ended

 

 

30 June 2019

 

30 June 2018

 

Note

Unaudited

 

Unaudited

 

 

£

 

£

 

 

 

 

 

 

 

 

 

 

Administrative expenses

5

(1,252,697)

 

(1,194,680)

Operating loss

 

(1,252,697)

 

(1,194,680)

 

 

 

 

 

Finance income

 6

99,993

 

27,788

Loss before income tax

 

(1,152,704)

 

(1,166,892)

 

 

 

 

 

Income tax

 

-

 

-

Loss for the period

 

(1,152,704)

 

(1,166,892)

 

 

 

 

 

Total other comprehensive income

 

-

 

-

 

Total comprehensive loss for the period, attributable to owners of the parent

 

 

(1,152,704)

 

 

(1,166,892)

 

 

 

 

 

 

 

 

 

 

Loss per ordinary share

 

 

 

 

Basic and diluted loss per share attributable to ordinary equity holders of the parent             

 7

(0.0423)

 

(0.0595)

 

The Group's activities derive from continuing operations.

 

The notes on pages 9 to 14 form an integral part of these condensed consolidated financial statements.

 

SAFE HARBOUR HOLDINGS PLC 

Company number 123821

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

 

 

 

 

As at

 

As at

 

 

30 June

 

31 December

 

 

2019

 

2018

 

Note

Unaudited

 

Audited

 

 

£

 

£

Assets

 

 

 

 

Non-current assets

 

 

 

 

Property, plant and equipment

 

2,817

 

1,302

Total non-current assets

 

2,817

 

1,302

 

 

 

 

 

Current assets

 

 

 

 

Other receivables

9

158,788

 

73,454

Cash and cash equivalents

 

25,650,272

 

26,904,510

Total current assets

 

25,809,060

 

26,977,964

 

 

 

 

 

Total assets

 

25,811,877

 

26,979,266

 

 

 

 

 

Equity and liabilities

 

 

 

 

Equity

 

 

 

 

Stated capital

 11

31,447,419

 

31,447,419

Share-based payment reserve 

 

93,986 

 

 88,069

Accumulated losses

 

(6,014,680) 

 

 (4,861,976)

Total equity

 

25,526,725

 

26,673,512

 

 

 

 

 

Current liabilities

 

 

 

 

Trade and other payables

 10

285,152

 

305,754

 

 

 285,152

 

 305,754

 

 

 

 

 

Total equity and liabilities

 

25,811,877

 

26,979,266

 

 

 

 

 

The notes on pages 9 to 14 form an integral part of these condensed consolidated financial statements.

 

The financial statements were approved by the Board of Directors on 18 September 2019 and were signed on its behalf by:

 

 

Rodrigo Mascarenhas

Avril Palmer-Baunack

Chief Executive Officer

Chairman

 

SAFE HARBOUR HOLDINGS PLC 

Company number 123821

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

 

 

 

 

 

 

Share-

 

 

 

 

 

 

 

 

based

 

 

 

 

 

 

Stated

 

payment

 

Accumulated

 

Total

 

 

 capital

 

reserve

 

losses

 

equity

 

 

£

 

£

 

£

 

£

Balance as at 1 January

2019

 

    31,447,419

 

     88,069

 

 

(4,861,976)

 

 

26,673,512

Loss for the period

 

                 -

 

              -

 

(1,152,704)

 

(1,152,704)

Share-based payments

 

                -

 

 5,917

 

                  -

 

5,917

Balance as at 30 June 2019 (unaudited)

 

  31,447,419

 

 

93,986

 

 

(6,014,680)

 

 

25,526,725

 

 

 

 

 

 

 

Share-

 

 

 

 

 

 

 

 

based

 

 

 

 

 

 

Stated

 

payment

 

Accumulated

 

Total

 

 

 capital

 

reserve

 

losses

 

equity

 

 

£

 

£

 

£

 

£

Balance as at 1 January 2018

 

  10,000,003

 

 

     78,784

 

 

(2,537,970)

 

 

7,540,817

Loss for the period

 

              -

 

                -

 

(1,166,892)

 

(1,166,892)

Issue of ordinary shares

 

22,699,998

 

-

 

-

 

22,699,998

Share issue costs

 

(1,254,480)

 

-

 

-

 

(1,254,480)

Share-based payments

 

              -

 

  5,145

 

                   -

 

5,145

Balance as at 30 June 2018 (unaudited)

 

 31,445,521

 

 

 83,929

 

 

(3,704,862)

 

 

27,824,588

 

 

 

 

 

 

 

 

 

 

 

The notes on pages 9 to 14 form an integral part of these condensed consolidated financial statements.

 

SAFE HARBOUR HOLDINGS PLC 

Company number 123821

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

 

 

 

Six months

 

Six months

 

 

to 30 June 2019

 

to 30 June 2018

 

Note

Unaudited

 

Unaudited

 

 

£

 

£

Operating activities

 

 

 

 

Loss before income tax

 

(1,152,704)

 

(1,166,892)

 

 

 

 

Adjustments to reconcile loss before income tax to net cash flows:

 

 

 

 

Finance income

6

(99,993)

 

(27,788)

Depreciation expense

 

518

 

438

Share-based payment expense

 

5,917

 

4,140

Working capital adjustments:

 

 

 

 

(Increase)/decrease in trade and other receivables

9

(85,334)

 

77,677

Decrease in trade and other payables1

10

(29,965)

 

(34,941)

Interest received

6

99,993

 

27,788

Net cash used in operating activities

 

(1,261,568)

 

(1,119,578)

 

 

 

 

 

Investing activities

 

 

 

 

Purchase of office equipment

 

(2,438)

-

 

-

Proceeds from sale of office equipment

 

405

 

-

Net cash flows used in investing activities

 

(2,033)

 

-

 

 

 

 

 

Financing activities

 

 

 

 

Proceeds from issue of share capital

 

-

 

22,699,998

Share issue costs

 

-

 

(1,254,480)

Proceeds from issue of incentive shares

 

9,363

 

2,211

Net cash flows generated from financing activities

 

9,363

 

21,447,729

 

 

 

 

 

 

 

 

 

 

Net (decrease)/increase in cash and cash equivalents

 

(1,254,238)

 

20,328,151

Cash and cash equivalents at beginning of the period

 

26,904,510

 

  7,787,775

Cash and cash equivalents at the end of the period

 

25,650,272

 

28,115,926

 

 

 

 

 

 

                       

 

The notes on pages 9 to 14 form an integral part of these condensed consolidated financial statements.

 

1 £9,363 (2018: £1,206) represents proceeds from issue of A1 and A3 Shares that are classified in trade & other payables in the Statement of Financial

Position and as proceeds from the issue of incentive shares in the Statement of Cash Flows.

 

SAFE HARBOUR HOLDINGS PLC 

Company number 123821

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

1.      GENERAL INFORMATION

Safe Harbour Holdings plc (the ''Company'') is an investing company for the purposes of the AIM Rules for Companies ("AIM Rules"), is incorporated in Jersey and domiciled in the United Kingdom (company number: 123821). It is a public limited company and the address of the registered office is One Waverley Place, Union Street, St Helier, Jersey, JE1 1AX, with a UK establishment address of 11 Buckingham Street, London, WC2N 6DF. The Company is the parent company of Safe Harbour Holdings UK Limited (company number: 10348545) (''SHHUK'') and Safe Harbour Holdings Jersey Limited (company number: 121981) (''SHHJL''), (collectively, the ''Group''). The activity of the Company is the acquisition and subsequent development of assets engaged in business-to-business distribution and/or business services.

 

2.      BASIS OF PREPARATION AND CHANGES TO THE GROUP'S ACCOUNTING POLICIES

(a)    Basis of preparation

These Interim Condensed Consolidated Financial Statements for the six months ended 30 June 2019 have been prepared in accordance with IAS 34 'Interim Financial Reporting' as adopted by the European Union and the AIM Rules. The Interim Report does not include all the notes of the type normally included in an annual financial report. Accordingly, this Report is to be read in conjunction with the annual financial statements for the year ended 31 December 2018, which have been prepared in accordance with IFRS as adopted by the European Union.

 

These Interim Condensed Consolidated Financial Statements do not comprise statutory accounts within the meaning of Article 105 of the Companies (Jersey) Law 1991, as amended. Statutory accounts, which are available on the Company's website, www.safeharbourplc.com, for the year ended 31 December 2018, were approved by the Board of Directors on 11 June 2019 and delivered to the Registrar of Companies.

 

(b)   Going concern

The Interim Condensed Consolidated Financial Statements have been prepared on a going concern basis, which assumes that the Group will continue to be able to meet its liabilities as they fall due within the next 12 months.

 

(c)    New standards and amendments to International Financial Reporting Standards

Standards, amendments and interpretation effective and adopted by the Group:

The accounting policies adopted in the preparation of these Interim Consolidated Financial Statements are consistent with those followed in the preparation of the Group's audited consolidated financial statements for the year ended 31 December 2018, which were prepared in accordance with International Financial Reporting Standards ("IFRS") as adopted by the European Union, updated to adopt those standards which became effective for periods starting on or before 1 January 2018.

 

Standards issued but not yet effective:

The following standards are issued but not yet effective. The Group intends to adopt these standards, if applicable, when they become effective. It is not expected that these standards will have a material impact on the Group.

 

Standard

 

Effective date

Amendments to IFRS 3

Business combinations

1 January 2020

Amendments to IAS 1 & IAS 8

Definition of material

1 January 2020

IFRS 17

Insurance Contracts

1 January 2021

 

3.      CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES

The preparation of the Condensed Consolidated Financial Statements under IFRS requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

 

There are significant estimates and assumptions used in the valuation of the incentive shares. Management has considered, at the grant date, the probability of a successful first acquisition by the Company and the potential range of value for the incentive shares, based on the circumstances on the grant date. The fair value of the incentive shares and related share-based payments were calculated using a Monte Carlo valuation model.

 

For the period and at the period end, the Directors do not consider that they have made any other significant estimates, judgements or assumptions that would materially affect the balances and results reported in these financial statements.

 

4.      SEGMENT INFORMATION

The Board of Directors is the Group's chief operating decision-maker. As the Group had not yet made an acquisition as at 30 June 2019, the Group is organised and operates as one segment.

 

5.      EXPENSES BY NATURE

 

 

Six months ended 30 June 2019

 

Six months ended 30 June 2018

 

 

£

 

£

Group expenses by nature

 

 

 

 

Staff related costs

 

483,022

 

473,780

Office costs

 

35,723

 

31,922

Legal & professional fees

 

647,689

 

591,413

Other expenses

 

86,263

 

97,565

 

 

1,252,697

 

1,194,680

 

 

 

 

 

 

6.      FINANCE INCOME

 

 

Six months ended 30 June 2019

 

Six months ended 30 June 2018

 

 

£

 

£

Interest on bank deposits

 

99,993

 

27,788

 

 

99,993

 

27,788

 

 

 

 

 

 

             

7.      LOSS PER ORDINARY SHARE

Basic earnings per ordinary share is calculated by dividing the loss attributable to equity holders of the Company by the weighted average number of ordinary shares in issue during the period. Diluted earnings per share is calculated by adjusting the number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. Incentive shares have not been included in the calculation of diluted earnings per share because they are anti-dilutive for the periods presented.

 

 

Six months ended 30 June 2019

 

Six months ended 30 June 2018

 

 

£

 

£

Group

 

 

 

 

Loss attributable to the owners of the parent

 

(1,152,704)

 

(1,166,892)

Weighted average number of ordinary shares in issue

 

27,250,001

 

19,620,628

Basic and diluted loss per share

 

(0.0423)

 

(0.0595)

 

8.      INVESTMENTS

Principal subsidiary undertakings of the Group

The Company directly owns the ordinary share capital of its subsidiary undertakings as set out below:

 

Subsidiary

 

 

Nature of business

 

 

 

Country of incorporation

 

Proportion of ordinary shares held by Company

 

Proportion of ordinary shares held by the Group

 

Safe Harbour Holdings UK Limited

 

Dormant vehicle

England

100%

100%

Safe Harbour Holdings Jersey Limited

 

Incentive vehicle

Jersey

99.97%

100%

           

 

There are no restrictions on the Company's ability to access or use the assets and settle the liabilities of the Company's subsidiaries.

 

9.      OTHER RECEIVABLES

All receivables are current. There is no material difference between the book value and the fair value of receivables.

 

 

Six months ended 30 June 2019

 

Year to
31 December
2018

 

 

£

 

£

Amounts falling due within one year

 

 

 

 

Other receivables

 

109,378

 

42,040

Prepayments

 

49,410

 

31,414

 

 

158,788

 

73,454

 

10.   TRADE AND OTHER PAYABLES

 

 

Six months ended 30 June 2019

 

Year to
31 December
2018

 

 

£

 

£

Trade payables

 

90,751

 

115,631

Accruals

 

132,287

 

151,563

Other tax and national insurance payable

 

43,949

 

29,755

Other creditors

 

18,165

 

8,805

 

 

285,152

 

305,754

 

There is no material difference between the book value and the fair value of the trade and other payables.

 

11.   STATED CAPITAL

 

 

Six months ended 30 June 2019

 

Year to
31 December
2018

 

 

£

 

£

Issued and fully paid

 

 

 

 

27,250,001 ordinary shares of no par value issued at £1.20 each

 

32,700,001

 

32,700,001

Share issue costs

 

(1,252,582)

 

(1,252,582)

 

 

31,447,419

 

31,447,419

 

All issued shares are fully paid. The holders of ordinary shares are entitled to receive dividends as declared and are entitled to one vote per share at general meetings of the Company.

 

12.   RESERVES

The following describes the nature and purpose of each reserve within shareholders' equity:

 

Share-based payment reserve

The share-based payment reserve is the cumulative amount recognised in relation to the equity settled share-based payment scheme.

 

Retained deficit

Cumulative net gains and losses recognised in the Consolidated Statement of Comprehensive Income.

 

13.   FINANCIAL INSTRUMENTS AND ASSOCIATED RISKS

The Group has the following categories of financial instruments at the period end:

 

 

 

Six months ended 30 June 2019

 

Year to
31 December 
2018

 

 

£

 

£

Financial assets measured at amortised cost

 

 

 

 

Cash and cash equivalents

 

25,650,272

 

26,904,510

 

 

25,650,272

 

26,904,510

 

 

 

 

 

 

 

 

 

 

Financial liabilities measured at amortised cost

 

 

 

 

Trade payables

 

90,751

 

115,631

Accruals

 

132,287

 

151,563

 

 

223,038

 

267,194

 

The fair value and book value of the financial assets and liabilities are equal.

 

The Group's risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits and controls and to monitor risks and adherence limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group's activities. Treasury activities are managed on a Group basis under policies and procedures approved and monitored by the Board. These are designed to reduce the financial risks faced by the Group which primarily relate to movements in interest rates.

 

14.   RELATED PARTY TRANSACTIONS

Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party, or the parties are under common control or influence, in making financial or operational decisions.

 

Mark Brangstrup Watts and James Corsellis are managing partners of Marwyn Capital LLP which provides corporate finance advice and various office and finance support services to the Company. During the period Marwyn Capital LLP was paid a total of £375,074 (30 June 2018: £477,717) (net of VAT as applicable). Marwyn Capital LLP was owed an amount of £62,647 (30 June 2018: £nil) at the balance sheet date.

 

Mark Brangstrup Watts and James Corsellis are managing partners of Marwyn Investment Management LLP which incurred costs on behalf of the Group which it recharged. During the period Marwyn Investment Management LLP charged £10,930 (30 June 2018: £767) in respect of recharged costs and was owed £8,216 (30 June 2018: £nil) at the balance sheet date.

 

Mark Brangstrup Watts and James Corsellis are the ultimate beneficial owners of Marwyn Partners Limited which incurred costs on behalf of the Group which it recharged. During the period Marwyn Partners Limited charged £5,893 (30 June 2018: £4,738) in respect of recharged costs and was owed £1,549 (30 June 2018: £nil) at the balance sheet date.

 

Mark Brangstrup Watts and James Corsellis are the ultimate beneficial owners of Axio Capital Solutions Limited which provides company secretarial, administrative and accounting services to the Group. During the period Axio Capital Solutions Limited charged £157,614 (30 June 2018: £126,696) in respect of services supplied. Axio Capital Solutions Limited was owed an amount of £26,105 (30 June 2018: £25,000) at the balance sheet date.

 

15.   COMMITMENTS AND CONTINGENT LIABILITIES

There were no commitments or contingent liabilities outstanding at 30 June 2019 that require disclosure or adjustment in these financial statements.

 

16.   POST BALANCE SHEET EVENTS

There have been no material post balance sheet events that would require disclosure or adjustment to these financial statements.

 

 

SAFE HARBOUR HOLDINGS PLC 

ADVISERS

Corporate Finance Adviser 
Marwyn Capital LLP 
11 Buckingham Street 
London, WC2N 6DF 

 

Company Secretary and Administrator
Axio Capital Solutions Limited 
One Waverley Place, Union Street,
St Helier,

Jersey, JE1 1AX 
 

Principal Bankers 
Barclays Bank plc 
1 Churchill Place 
London, E14 5HP 

 

 

Solicitors to the Company (English and UK Law)

Covington & Burling LLP

265 Strand

London, WC2R 1BH

 

 

Independent Auditors 
PricewaterhouseCoopers LLP 
1 Embankment Place 
London, WC2N 6RH 

 

Solicitors to the Company (Jersey Law)
Ogier
44 Esplanade, St Helier
Jersey, JE4 9WG

 


Registrars 
Link Market Services (Jersey) Limited
12 Castle Street, St Helier

Jersey, JE2 3RT
 

 

Public Relations Adviser

Tulchan Communications Group

85 Fleet Street

London, EC4Y 1AE

Nominated Adviser

Cenkos Securities plc

6.7.8 Tokenhouse Yard

London, EC2R 7AS

Telephone: 020 7397 8900

 

 

 

 

 

 


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IR LLFVRARITLIA
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

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