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31 October 2022

ANANDA DEVELOPMENTS PLC

(“Ananda” or the “Company”)

Unaudited Interim Results for the six months ended 31 July 2022

The Directors current the interim outcomes of Ananda Developments Plc (“the Company” or “Ananda”) for the interval from 1 February 2022 to 31 July 2022.

UPDATE ON INVESTMENTS AND ACTIVITIES

Ananda’s ambition is to be a UK-based grower and supplier of carbon zero, constant, top quality medical hashish for home and worldwide markets.

DJT Group Limited (“DJT Group”)

DJT Group is owned 50% by the Company and 50% by Anglia Salads Limited, a member of the JEPCO group of Companies. DJT Group is the 100% proprietor of DJT Plants Limited (“DJT”).

DJT was granted a licence from the UK authorities Home Office to develop >0.2% THC medical hashish for analysis in April 2021. The building of the analysis facility comprising rising chapelles and laboratory analysis facility was accomplished in February 2022.

In February 2022, DJT commenced its Single Seed Decent (SSD) genetic stabilisation programme at its medical hashish analysis facility. This is the start line for the primary stage of DJT’s analysis programme which is designed to create a library of secure hashish genetics to be able to ‘match’ hashish plant profiles with medical indications. The analysis plan entails self-crossing a collection of hashish strains for six generations.

DJT additionally undertook discipline trials in its multi-chapelle rising constructions throughout the interval. During July 2022, the rising crew was commencing the primary harvest and compiling information for later evaluation. These trials are getting used to find out which secure strains produce chemovars with desired metabolic profiles and which thrive in DJT’s rising situations, and to assist outline rising, fertilisation, irrigation and harvesting protocols which can be helpful in a industrial rising surroundings. Ananda is rising in pure season situations with no synthetic gentle and no synthetic warmth. The capability to develop efficiently on this method will provide Ananda vital capital and working price advantages in its deliberate industrial setting.

Story continues

During the interim interval, DJT appointed two key members of its senior operational crew, spearheaded by Dr. Nigel Gale as Head of Plant Science and Steven Murray as Head of Cultivation.

The Company additionally progressed the proposed acquisition of the 50% of DJT it doesn’t personal. In this regard, the Company hopes to replace the market shortly.

The administrators thank the Ananda and DJT groups for his or her dedication and onerous work throughout the interval and thank shareholders for his or her ongoing assist.

On behalf of the board.

Melissa Sturgess, Chief Executive Officer

31 October 2022

Interim Statement of Comprehensive Income

Period Ended 31 July 2022

6 months to 31 July 2022

Unaudited

Year ended 31 January 2022

Audited

6 months to 31 July 2021

Unaudited

Note

£

£

£

Administrative bills

(330,899)

(970,038)

(688,498)

Interest obtained

Loss from operations

(330,899)

(970,038)

(668,498)

Taxation

Foreign Exchange Translation Gain / (Loss)

1

(305)

(149)

Total loss for the interval

(330,899)

(970,343)

(688,647)

Earnings per share

Basic and diluted earnings per share (pence)

2

(0.08p)

(0.13p)

(0.10p)

There was no different complete earnings within the interval.

Interim Statement of Financial Position

Period Ended 31 July 2022

6 months to 31 July 2022

Unaudited

Year ended 31 January 2022

Audited

6 months to 31 July 2021

Unaudited

£

£

£

Fixed belongings

Investments

3,173,861

2,252,192

1,313,811

3,173,861

2,252,192

1,313,811

Current belongings

Debtors

35,404

110,938

50,000

Total present belongings

35,404

110,938

50,000

Creditors: quantities falling due inside one 12 months

2,559,399

1,487,254

863,564

Net present liabilities

(2,523,995)

(1,376,316)

(813,564)

Non-Current liabilities

Convertible mortgage notes

587,860

587,860

Total belongings much less present liabilities

62,007

288,016

500,247

Capital and reserves

Share capital

1,641,110

1,597,031

1,589,004

Share premium

931,444

876,347

766,336

Share possibility reserve

24,502

18,788

67,361

Retained earnings

(2,535,049)

(2,204,150)

(1,922,454)

Total fairness and liabilities

62,007

288,016

500,247

Interim Statement of Changes in Equity

Period Ended 31 July 2022

Share Capital

Share Premium

Share Option Reserve

Retained Earnings

Total

£

£

£

£

£

As at 1 February 2022

1,597,031

876,347

18,788

(2,204,150)

288,016

Total complete loss for the interval

(330,899)

(330,899)

Proceeds from share concern

44,079

55,097

99,176

Issue of share choices

5,714

5,714

Balance at 31 July 2022

1,641,110

931,444

24,502

(2,535,049)

62,007

Share Capital

Share Premium

Share Option Reserve

Retained Earnings

Total

£

£

£

£

£

As at 1 February 2021

928,278

689,229

447,337

(1,233,807)

831,037

Total complete loss for the 12 months

(970,343)

(970,343)

Proceeds from share concern

268,753

147,142

415,895

Issuance of contingency shares

400,000

39,976

(439,976)

Issue of share choices

11,427

11,427

Balance at 31 January 2022

1,597,031

876,347

18,788

(2,204,150)

(288,016)

Share Capital

Share Premium

Share Option Reserve

Retained Earnings

Total

£

£

£

£

£

As at 1 February 2021

928,278

689,229

447,337

(1,233,807)

831,037

Total complete loss for the interval

(688,647)

(688,647)

Proceeds from share concern

660,726

77,107

737,833

Issue of share choices

(379,976)

(379,976)

Balance at 31 July 2021

1,589,004

766,336

67,361

(1,922,454)

500,247

Reserve

Description and function

Share capital

This represents the nominal worth of shares issued.

Share premium

Amount subscribed for share capital in extra of nominal worth.

Retained earnings

Cumulative web positive factors and losses recognised within the assertion of complete earnings.

Notes to the Interim Financial Statements

Period Ended 31 July 2022

ACCOUNTING POLICIES

General data

Ananda Developments Plc’s interim monetary statements are introduced in British Pound Sterling (GBP) which is the purposeful foreign money of the mother or father firm. These interim monetary statements had been authorized for concern by the Board of Directors on 31 October 2022.

The monetary data set out in these interim monetary statements doesn’t represent statutory accounts as outlined in Section 434 of the Companies Act 2006. The Company’s statutory monetary statements for the 12 months ended 31 January 2022 have been filed with the Registrar of Companies. The auditor’s report on these monetary statements was unqualified and didn’t comprise an announcement underneath Section 498(2) of the Companies Act 2006.

These interim outcomes haven’t been audited nor have they been reviewed by the Company’s auditors underneath ISRE 2410 of the Auditing Practices Board.

Basis of preparation

These interim monetary statements are for the six-month interval ended 31 July 2022. They have been ready following the popularity and measurement rules of FRS 102. They don’t embody all the data required for full annual monetary statements and ought to be learn together with the monetary statements for the interval ended 31 January 2022.

These interim monetary statements have been ready on a going concern foundation which the Directors consider to be acceptable.

These interim monetary statements have been ready in accordance with the accounting insurance policies adopted within the monetary statements for the interval ended 31 January 2022.

1. Foreign foreign money transactions

Transactions in foreign currency echange are translated to GBP on the alternate charges on the dates of the transactions. Monetary belongings and liabilities denominated in foreign currency echange on the reporting date are translated to GBP on the alternate price on that date. Foreign alternate variations arising on translation are recognised within the assertion of complete earnings.

2. Earnings per share

The calculation of earnings per share relies on the loss attributable to odd shareholders divided by the typical variety of shares in concern throughout the interval.

SUBSEQUENT EVENTS

The Acquisition of DJT (the ‘Acquisition’)

As shareholders can be conscious, completion of the acquisition of the remaining 50% of DJT has taken longer than initially contemplated. Despite this delay, work at DJT has nonetheless progressed quickly, evolving past the scope and prices envisioned underneath the Heads of Terms introduced on 8 June 2021. Ananda has subsequently renegotiated the phrases of the Acquisition.

In recognition of the delay, and the extent of funding supplied by Ananda to DJT, the events have agreed to amend the phrases of the Acquisition, such that the consideration payable to JEPCO will now be £3.2 million (beforehand £7.3 million), which can be glad by the allotment of 350,000,000 (beforehand 790,538,866) odd shares of 0.2p every within the Company ( “Consideration Shares”).

The Consideration Shares are nonetheless being valued at 0.925p per share, the worth prevailing at 8 June 2021, and can characterize 29.9% of the Company’s enlarged issued share capital. The decreased consideration implies that the Acquisition not requires a waiver underneath Rule 9 of the City Code on Takeovers and Mergers. However, shareholders can be given the chance to approve the Acquisition on the General Meeting to be convened in relation to the Debt Proposals introduced on 18 October 2022.

On completion of the Acquisition, one director of Anglia Salads, specifically Stuart Piccaver, will be a part of the board of Ananda, fairly than two.

-Ends-

The Directors of the Company settle for duty for the contents of this announcement.

ANANDA DEVELOPMENTS PLC
Chief Executive Officer
Melissa Sturgess

Investor Relations
Jeremy Sturgess-Smith

+44 (0)7463 686 497

PETERHOUSE CAPITAL LIMITED
Corporate Finance
Mark Anwyl

Corporate Broking
Lucy Williams
Duncan Vasey

+44 (0)20 7469 0930

Market Abuse Regulation (MAR) Disclosure

The data contained inside this announcement is deemed by the Company to represent inside data. Upon the publication of this announcement through a Regulatory Information Service, this inside data is now thought-about to be within the public area.

About Ananda Developments

Ananda is an AQSE-listed medical hashish firm creating UK-based operations to develop and supply carbon zero, constant, medical hashish for the UK and worldwide markets.

The UK medical hashish market is predicted to be price £450m by 2025 and the European market is predicted to be price USD4.2bn by 2027.

For extra data, please go to: https://anandadevelopments.com/

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By Seth A. Dunbar

Seth Dunbar leads clinical research study operations and quality & compliance. He is experienced working with teams to help drug sponsors better leverage eSource data. With 10+ years of experience Seth brings expertise developing eClinical services that integrate data and technology to help companies optimise study execution.

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