t
Lift Global Ventures Plc presented its interim results for the six months ended 31 December 2025, reporting cash reserves of £198,597, revenue of £197,797, and administration expenses of £178,563. The Company executed a share swap agreement with IntelliAM AI plc on 14 November 2025, issuing 10,000,000 new Ordinary Shares at £0.01 per share for 86,956 shares in IntelliAM AI Plc, and also issued 1,000,000 new Ordinary Shares at £0.01 per share for fees. Effective 30 March 2026, Saqib Ahmed Mir ceased to be Chief Executive Officer and Executive Director of Lift Global Ventures Plc and its subsidiary Miriad Limited, and David Richards MBE and Mark Horrocks were appointed to the Board during the period.
| Date | 31 Mar 2026 |
| Time | 14:44:08 |
| Category | Miscellaneous |
| ID | 9003Y |
Lift Global Ventures Plc
Interim Results
Lift Global Ventures ("Lift" or the "Company") presents its interim results for the six months ended 31 December 2025.
Chairman's Statement
During the period, the Company refined its investment strategy and focused its activities on opportunities in applied artificial intelligence ("AI"), reflecting the Board's view that AI will continue to be a significant driver of change across multiple sectors.
Investment Strategy
The Company's investment policy now focuses on applied AI opportunities across a range of sectors, including healthcare, financial services, manufacturing and creative industries.
The Board's approach is to prioritise businesses with clearly defined use cases, defensible intellectual property and identifiable routes to revenue generation. In particular, the Company is focused on opportunities where AI is being deployed to deliver measurable operational or commercial impact, rather than speculative or purely conceptual technologies.
The Company retains flexibility to invest across both private and public markets and to structure investments appropriately, including through direct equity, structured arrangements and co-investments.
Investment Activity
During the period, the Board and Investment Committee reviewed a number of AI-focused opportunities. The Company has adopted a disciplined approach, focusing on businesses with strong technical leadership, clear commercial pathways and appropriate governance frameworks.
The Board has also strengthened its access to technical expertise to support investment decisions in a rapidly evolving sector.
IntelliAM Share Swap
A key development during the period was the execution of a share swap agreement with IntelliAM AI plc.
The transaction increases the Company's exposure to applied AI solutions in industrial and infrastructure settings, where data-rich environments and operational requirements create favourable conditions for AI-driven optimisation.
The transaction was structured to enhance strategic alignment while preserving cash resources, and reflects the Company's focus on practical, revenue-generating AI applications.
Yorkshire AI Labs
The Company maintains a working relationship with Yorkshire AI Labs ("YAIL"), an AI-focused venture development and investment ecosystem.
This relationship provides access to a pipeline of early-stage AI opportunities and technical insight into emerging developments in the sector.
Any transactions or arrangements involving YAIL are considered by the Board in accordance with appropriate governance procedures, and any conflicts of interest are managed in line with the Company's Articles and applicable regulation.
Responsible AI and Governance
The Board recognises that long-term value creation in AI depends on appropriate governance and responsible deployment.
The Company therefore considers factors such as data integrity, model transparency, cybersecurity, regulatory preparedness and ethical considerations as part of its investment process.
Miriad Limited
The Company's subsidiary, Miriad Limited, continued to operate as a financial PR and investor relations business during the period, maintaining an active client base and market presence.
After period end, on 30 March 2026, the Company announced that Saqib Ahmed Mir ceased to be Chief Executive Officer and
Executive Director of the Company effective from 30 March 2026. Mr Mir also ceased to be Chief Executive Officer and a
director of Miriad Limited, a wholly owned subsidiary of the Company, with effect from the same date. The Board wishes Mr Mir well for the future.
This leadership change follows the Company's revised investment policy, which is now focused on pursuing opportunities in applied artificial intelligence.
Trans-Africa Energy
The Company retains a legacy investment in Trans-Africa Energy Limited in the form of convertible loan notes ("CLN"). As of which 31 March 2026 the CLN has not been repaid and the Company is currently in discussions with Trans-Africa Energy Limited regarding the repayment and/or restructuring the loan. Further announcements will be made as appropriate.
Financial Overview
As at 31 December 2025, the Group had cash reserves of £198,597 and remained debt free.
The Group reported revenue of £197,797 for the six-month period (31 December 2024: £204,853 and administration expenses of £178,563 (31 December 2024: £197,071).
Governance and Shareholder Engagement
During and following the period, the Company has engaged with shareholders on matters relating to its strategy and capital structure.
The Board remains committed to maintaining appropriate governance standards and ensuring that shareholder views are considered through proper corporate processes.
Board Appointments
During the period, David Richards MBE and Mark Horrocks were appointed to the Board.
David Richards brings extensive experience as a technology entrepreneur and investor, including leadership roles in listed technology businesses and early-stage investment.
Mark Horrocks brings over 40 years' experience in the funds and investment industry, including significant experience in public and private markets.
Outlook
The Board believes that the Company is now positioned to pursue a focused strategy in applied artificial intelligence, while maintaining a disciplined approach to capital allocation and risk.
We remain committed to acting in the best interests of shareholders as a whole and to progressing the Company's strategy through appropriate governance and market processes.
David Richards
Executive Chairman
The directors of the Company accept responsibility for the contents of this announcement. The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Enquiries:
|
Lift Global Ventures Plc |
|
|
David Richards, Executive Chairman |
Via Oberon |
|
Oberon Capital (AQSE Corporate Adviser and Broker) |
|
|
Nick Lovering, Adam Pollock |
+44 (0) 203 179 5300 |
For more information please visit: www.liftgv.com
|
|
Note |
Unaudited 31 December 2025 £ |
Audited 30 June 2025 £ |
Unaudited 31 December 2024 £ |
|
Non-Current Assets |
|
|
|
|
|
Intangible assets |
8 |
196,776 |
197,280 |
225,075 |
|
Equity Investment - Fair value through profit and loss |
9 |
194,663 |
198,114 |
55,117 |
|
Total non-current assets |
|
391,439 |
395,394 |
280,192 |
|
Current Assets |
|
|
|
|
|
Cash and cash equivalents |
|
198,597 |
195,525 |
170,847 |
|
Trade and other receivables |
|
47,220 |
103,393 |
100,041 |
|
Financial assets - Fair value through profit and loss |
10 |
- |
180,167 |
- |
|
Total current assets |
|
245,817 |
479,085 |
270,888 |
|
Total Assets |
|
637,256 |
874,479 |
551,080 |
|
Current Liabilities |
|
|
|
|
|
Trade and other payables |
|
101,881 |
148,140 |
92,818 |
|
Contract liabilities |
|
112,423 |
229,723 |
- |
|
Financial liability - Fair value through profit and loss |
10 |
- |
60,056 |
- |
|
Total Liabilities |
|
214,304 |
437,919 |
92,818 |
|
Net Assets |
|
422,952 |
436,560 |
458,262 |
|
Equity attributable to owners of the Parent |
|
|
|
|
|
Share capital |
11 |
1,067,100 |
957,100 |
957,100 |
|
Share premium |
11 |
1,225,507 |
1,225,507 |
1,225,507 |
|
Other reserves |
|
154,624 |
154,624 |
181,540 |
|
Accumulated losses |
|
(2,024,279) |
(1,900,671) |
(1,905,885) |
|
Total Equity |
|
422,952 |
436,560 |
458,262 |
|
|
Note |
Unaudited 6 months to 31 December 2025 £ |
Unaudited 6 months to 31 December 2024 £ |
|
Revenue |
|
197,797 |
204,853 |
|
Cost of Sales |
|
- |
(18,900) |
|
Administration expenses |
5 |
(178,563) |
(197,071) |
|
Other losses |
6 |
(4,602) |
- |
|
Operating Loss |
|
14,632 |
(11,118) |
|
Gain on disposal of equity investments |
|
39,633 |
14,900 |
|
Net fair value losses on equity investments |
9 |
(197,929) |
(9,451) |
|
Fair value gains on financial liabilities at fair value through profit and loss |
10 |
20,056 |
- |
|
Profit/(loss) before Taxation |
|
(123,608) |
(5,669) |
|
Corporation tax charge |
|
- |
150 |
|
Profit/(loss) for the period |
|
(123,608) |
(5,519) |
|
Earnings/(loss) per share (pence) - Basic |
7 |
(0.125) |
(0.006) |
|
Earnings/(loss) per share (pence) - Diluted |
7 |
(0.125) |
(0.006) |
The Company has £197,833 Other Comprehensive Income as at 31 December 2025 (31 December 2024: £nil)
All operations are continuing.
|
|
Note |
Unaudited 30 December 2025 £ |
Unaudited 31 December 2024 £ |
|
Cash flows from operating activities |
|
|
|
|
Profit/(loss) for the period |
|
(123,608) |
(5,519) |
|
Adjustments for: |
|
|
|
|
Depreciation & amortisation |
5 |
504 |
27,795 |
|
Impairment of receivables |
|
5,000 |
49,900 |
|
Fair value gain on financial liabilities at fair value through profit and loss |
10 |
(20,056) |
|
|
Other losses |
|
3,542 |
- |
|
Gain on sale of equity investments |
9 |
(39,633) |
(14,900) |
|
Fair value loss on equity investments |
9 |
197,929 |
9,451 |
|
Net finance income |
|
(408) |
- |
|
Income tax expense |
|
- |
(150) |
|
Changes in working capital: |
|
|
|
|
Increase in trade and other receivables |
|
16,173 |
(115,965) |
|
Increase in trade and other payables |
|
(196,060) |
(27,447) |
|
Income tax received/(paid) |
|
- |
150 |
|
Net cash used in operating activities |
|
(156,617) |
(76,685) |
|
Cash flows from investing activity |
|
|
|
|
Cash received for sale of investments |
9 |
159,281 |
84,312 |
|
Interest received |
|
408 |
- |
|
Net cash used in investing activity |
|
159,689 |
84,312 |
|
Cash flows from financing activity |
|
|
|
|
Net cash generated from financing activity |
|
- |
- |
|
Net increase in cash and cash equivalents |
|
3,072 |
7,627 |
|
Cash and cash equivalents at start of the period |
|
195,525 |
163,220 |
|
Cash and cash equivalents at end of period |
|
198,597 |
170,847 |
Non-Cash Investing and Financing Activities
Unaudited 6 months ended 31 December 2024 - Miriad Limited received 10,589,594 shares in lieu of payment of services provided to customers, totalling £76,900 (book value).
296,000 shares, totaling £12,801, were transferred to introducers in lieu of commission and is shown in 'Cost of Sales' in the Condensed Consolidated Income Statement (Refer to Note 9).
Unaudited 6 months ended 31 December 2025 - On 14 November 2025, the Company issued 10,000,000 new Ordinary Shares at £0.01 per share, representing £100,000 of share capital, as consideration for the transfer of shares in IntelliAM AI Plc. This transaction was non-cash in nature.
In addition, the Company issued 1,000,000 new Ordinary Shares at £0.01 per share in settlement of fees payable, which also constituted a non-cash transaction.
Miriad Limited received 2,085,389 shares in lieu of payment of services provided to customers totaling £15,000 (book value). Within the income statement, the revenue recognised in relation to these shares was £16,030 of which £nil was treated as deferred income.
|
|
Attributable to Equity Shareholders |
||||
|
|
Share capital £ |
Share premium £ |
Other reserves £ |
Retained earnings £ |
Total equity £ |
|
Unaudited - Period ended 31 December 2024 |
|
|
|
|
|
|
At 1 July 2024 |
957,100 |
1,225,507 |
181,540 |
(1,900,366) |
463,781 |
|
Loss for the period |
- |
- |
- |
(5,519) |
(5,519) |
|
Total Profit for the period |
- |
- |
- |
(5,519) |
(5,519) |
|
As at 31 December 2024 |
957,100 |
1,225,507 |
181,540 |
(1,905,885) |
458,262 |
|
Unaudited - Period ended 31 December 2025 |
|
|
|
|
|
|
At 1 July 2025 |
957,100 |
1,225,507 |
154,624 |
(1,900,671) |
436,560 |
|
Loss for the period |
- |
- |
- |
(123,608) |
(123,608) |
|
Total Loss for the period |
- |
- |
- |
(123,608) |
(123,608) |
|
Transactions with owners |
|
|
|
|
|
|
Issue of Equity (Note 11) |
110,000 |
- |
- |
- |
110,000 |
|
Total transactions with owners |
110,000 |
- |
- |
- |
110,000 |
|
As at 31 December 2025 |
1,067,100 |
1,225,507 |
154,624 |
(2,024,279) |
422,952 |
The accompanying notes on pages 8 to 14 form an integral part of the financial information
Lift Global Ventures Plc (the "Company") is a company domiciled in the United Kingdom. The condensed consolidated interim financial statements (the "Interim Financial Statements") as at and for the six months ended 31 December 2025 comprise the results of the Company and its subsidiary (together referred to as the "Group").
The Interim Financial Statements of the Group as at and for the period ended 30 June 2025 are available upon request from the Company's registered office at 6 Heddon Street, London, England, W1B 4BT or at www.liftgv.com.
The Interim Financial Statements set out in this report is based on the consolidated financial information of the Group. The Interim Financial Statements of the Group for the 6 months ended 31 December 2025 was approved and authorised for issue by the Board on 31 March 2026. The Interim Financial Statements have not been audited.
These Interim Financial Statements do not comprise statutory accounts within the meaning of section 434 of the Companies Act 2006. Statutory accounts for the year ended 30 June 2025 were approved by the board of directors on 15 November 2025 and delivered to the Registrar of Companies. The report of the auditors on those accounts was unqualified, did not contain an emphasis of matter paragraph and did not contain any statement under section 498 of the Companies Act 2006.
The Interim Financial Statements is presented in Pound Sterling and values are rounded to the nearest pound.
The Interim Financial Statements for the six month ended 31 December 2025 has been prepared in accordance with the UK-adopted International Accounting Standard 34, 'Interim Financial Reporting'.
The Interim Financial Statements does not include all of the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended 30 June 2025, which has been prepared in accordance with UK-adopted international accounting standards and the requirements of the Companies Act 2006, and any public announcements made by Lift Global Ventures Plc during the interim reporting period.
A number of new standards, amendments and became effective on 1 July 2025 and have been adopted by the Group. None of these standards have materially affected the Group.
Management has prepared a forecast covering 18 months post-period end and believe that current cash reserves together with liquid investments will adequately cover the working capital requirements of the Group.
As such, the Directors have a reasonable expectation that the Group has, and will have access to, adequate resources to continue in operational existence for the foreseeable future and, therefore, continue to adopt the going concern basis in preparing the financial statements.
The results reported for the Group's two reportable segments, Head Office and Financial PR, have been derived from the results of Lift Global Ventures Plc and Miriad Limited respectively, less any inter-company transactions. The total value of inter-company transactions in the period were £105,627 (2024: £43,645).
Management allocates costs associated with the provision of Financial PR services to the entity's Financial PR segment, plus a portion of administration expenses relative to the amount of time spent on administrative matters within this segment. The majority of administrative expenses occur in relation to the running and management of Lift Global Ventures Plc and are therefore allocated to the Head Office segment.
|
Unaudited - Period ended 31 December 2025 |
|
Head Office £ |
Financial PR £ |
Intercompany £ |
Total £ |
|
Revenue - revenue recognition over time |
|
105,627 |
197,797 |
(105,627) |
197,797 |
|
Administrative expenses |
|
(157,798) |
(126,392) |
105,627 |
(178,563) |
|
Other losses |
|
- |
(4,602) |
- |
(4,602) |
|
Gain on disposal of equity investments |
|
39,633 |
- |
- |
39,633 |
|
Valuation losses on fair value through profit and loss equity investments |
|
(185,295) |
(12,634) |
- |
(197,929) |
|
Fair value gains on financial liabilities at fair value through profit and loss |
|
- |
20,056 |
- |
20,056 |
|
Profit/(loss) before Taxation |
|
(197,833) |
74,225 |
- |
(123,608) |
|
Reportable segment assets |
|
581,288 |
515,118 |
(459,150) |
637,256 |
|
Reportable segment liabilities |
|
330,480 |
163,983 |
(280,159) |
214,304 |
|
|
|
|
|
|
|
|
Unaudited - Period ended 31 December 2024 |
|
|
|
|
|
|
Revenue - revenue recognition over time |
|
43,645 |
204,853 |
(43,645) |
204,853 |
|
Cost of Sales |
|
- |
(18,900) |
- |
(18,900) |
|
Administrative expenses |
|
(145,146) |
(95,570) |
43,645 |
(197,071) |
|
Gain on disposal of equity investments |
|
14,900 |
- |
- |
14,900 |
|
Valuation losses on fair value through profit and loss equity investments |
|
(9,086) |
(365) |
- |
(9,451) |
|
Profit/(loss) before Taxation |
|
(95,687) |
90,018 |
- |
(5,669) |
|
Reportable segment assets |
|
651,117 |
227,444 |
(327,481) |
551,080 |
|
Reportable segment liabilities |
|
33,687 |
82,922 |
(23,791) |
92,818 |
|
|
Unaudited 31 December 2025 £ |
Unaudited 31 December 2024 £ |
|
Directors' fees |
61,000 |
44,000 |
|
Employee salaries |
13,000 |
- |
|
Employers tax contributions and other employment expenses |
11,017 |
710 |
|
Auditor fees |
- |
1,000 |
|
Professional, legal and consulting fees |
44,047 |
50,821 |
|
PR and marketing |
502 |
612 |
|
Insurance |
4,726 |
6,944 |
|
Exchange listing fees |
28,472 |
5,846 |
|
IT and software services |
1,352 |
1,373 |
|
Depreciation and amortisation |
504 |
27,795 |
|
Office expenses |
2,165 |
- |
|
Impairment loss of trade receivables |
5,000 |
49,900 |
|
Other expenses |
6,778 |
8,070 |
|
Total administrative expenses |
178,563 |
197,071 |
|
|
Unaudited 31 December 2025 £ |
Unaudited 31 December 2024 £ |
|
Loss on settlement of trade receivables |
4,602 |
- |
|
Total gains |
4,602 |
- |
|
|
Unaudited 31 December 2025 £ |
Unaudited 31 December 2024 £ |
|
Net earnings/(loss) for the period from continued operations attributable to equity shareholders |
(123,608) |
(5,519) |
|
Weighted average number of shares for the period (basic) |
98,579,566 |
95,710,000 |
|
Basic earnings/(loss) per share for continued operations (expressed in pence) |
(0.125) |
(0.006) |
Given that the Group was loss making in the period to 31 December 2025 and 31 December 2024, these instruments have an anti-dilutive effect and therefore the Group has not presented a diluted loss per share.
|
Intangible Assets - Cost and Net Book Value |
Website £ |
Goodwill £ |
Customer Relationships £ |
Total £ |
|
Cost |
|
|
|
|
|
As at 1 July 2024 |
10,000 |
189,516 |
109,180 |
308,696 |
|
As at 31 December 2024 |
10,000 |
189,516 |
109,180 |
308,696 |
|
As at 1 July 2025 |
10,000 |
189,516 |
109,180 |
308,696 |
|
As at 31 December 2025 |
10,000 |
189,516 |
109,180 |
308,696 |
|
|
|
|
|
|
|
Amortisation |
|
|
|
|
|
As at 1 July 2024 |
1,236 |
- |
54,590 |
55,826 |
|
Charge for the year |
500 |
- |
27,295 |
27,795 |
|
As at 31 December 2024 |
1,736 |
- |
81,885 |
83,621 |
|
As at 1 July 2025 |
2,236 |
- |
109,180 |
111,416 |
|
Charge for the year |
504 |
- |
- |
504 |
|
As at 31 December 2025 |
2,740 |
- |
109,180 |
111,920 |
|
Net book value as at 31 December 2024 |
8,264 |
189,516 |
27,295 |
225,075 |
|
Net book value as at 30 June 2025 |
7,764 |
189,516 |
- |
197,280 |
|
Net book value as at 31 December 2025 |
7,260 |
189,516 |
- |
196,776 |
The intangible asset classes are:
- Website is the value attributed to the build of Miriad's website.
- Goodwill is the excess of the consideration transferred and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the net identifiable assets.
- Customer relations is the value attributed to the key customer lists and relationships of Miriad.
Fair value through profit and loss equity investments include the following:
|
|
£ |
|
1 July 2024 |
69,881 |
|
Additions at cost |
76,900 |
|
Disposal of equity investments - sold |
(69,412) |
|
Disposal of equity investments - transferred to third parties |
(12,801) |
|
Change in fair value recognised in profit and loss |
(9,451) |
|
31 December 2024 |
55,117 |
|
|
|
|
1 January 2025 |
55,117 |
|
Additions at cost |
211,831 |
|
Disposal of equity investments - sold |
(11,680) |
|
Disposal of equity investments - transferred to third parties |
750 |
|
Change in fair value recognised in profit and loss |
(57,904) |
|
30 June 2025 |
198,114 |
|
|
|
|
1 July 2025 |
198,114 |
|
Additions at cost |
379,824 |
|
Disposal of equity investments - sold |
(185,346) |
|
Change in fair value recognised in profit and loss |
(197,929) |
|
31 December 2025 |
194,663 |
|
|
31 December 2025 £ |
30 June 2025 £ |
31 December 2024 £ |
|
Quoted: Equity securities - United Kingdom |
194,663 |
198,114 |
55,117 |
|
|
194,663 |
198,114 |
55,117 |
The fair value of quoted securities is based on published market prices.
All assets and liabilities for which fair value is measured are categorised within the fair value hierarchy. The fair value hierarchy prioritises the inputs to valuation techniques used to measure fair value. The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments and other assets and liabilities for which the fair value was used:
- level 1: quoted prices in active markets for identical assets or liabilities;
- level 2: inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices); and
- level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The following tables set forth, by level, equity investments measured at fair value on a recurring basis as at 31 December 2025, 30 June 2025 and 31 December 2024:
|
|
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
|
Equity securities: |
|
|
|
|
31 December 2024 |
55,117 |
- |
- |
|
30 June 2025 |
198,114 |
- |
- |
|
31 December 2025 |
194,663 |
- |
- |
Warrants over listed securities
During the year ending 30 June 2025, the Group acquired warrants over listed securities. In accordance with IFRS 9 Financial Instruments, the warrants are classified as financial assets and, together with associated financial liabilities, are measured at fair value through profit or loss (FVTPL). During the period ending 31 December 2025, these warrants over listed securities were exercised and the shares received had a fair value of £132,000 (Note 9).
Financial assets mandatorily measured at FVTPL include the following:
|
|
31 December 2025 £ |
30 June 2025 £ |
31 December 2024 £ |
|
Current assets |
|
|
|
|
Warrants over listed securities |
- |
180,167 |
- |
|
|
- |
180,167 |
- |
Financial liabilities mandatorily measured at FVTPL include the following:
|
Current liabilities |
31 December 2025 £ |
30 June 2025 £ |
31 December 2024 £ |
|
Warrants over listed securities |
- |
60,056 |
- |
|
|
- |
60,056 |
- |
|
Financial Asset at fair value through profit and loss |
£ |
|
At 1 July 2024 |
- |
|
At 31 December 2024 |
- |
|
Fair value gains recognised in other income |
180,167 |
|
At 30 June 2025 |
180,167 |
|
Fair value reclassification to equity investment - FVTPL |
(180,167) |
|
At 31 December 2025 |
- |
|
Financial Liability at fair value through profit and loss |
£ |
|
At 1 July 2024 |
- |
|
At 31 December 2024 |
- |
|
Fair value gains recognised in other income |
60,056 |
|
At 30 June 2025 |
60,056 |
|
Reclassification to Accruals |
(40,000) |
|
De-recognition of Financial Liability (Note 12) |
(20,056) |
|
At 31 December 2025 |
- |
Fair value considerations
The warrants over listed securities held are not actively traded on an exchange, however, the various inputs obtained for inclusion in the valuation model can derived from observable data, therefore the instruments have been classified within Level 2 of the fair value hierarchy.
|
|
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
|
Financial assets at FVTPL - Equity warrants |
|
|
|
|
31 December 2024 |
- |
- |
- |
|
30 June 2025 |
- |
180,167 |
- |
|
31 December 2025 |
- |
- |
- |
|
|
|
|
|
|
Financial liabilities at FVTPL - Equity warrants |
|
|
|
|
31 December 2024 |
- |
- |
- |
|
30 June 2025 |
- |
60,056 |
- |
|
31 December 2025 |
- |
- |
- |
All assets and liabilities for which fair value is measured are categorised within the fair value hierarchy. The fair value hierarchy prioritises the inputs to valuation techniques used to measure fair value. The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments and other assets and liabilities for which the fair value was used:
• Level 1: quoted prices in active markets for identical assets or liabilities;
• Level 2: inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices); and
• Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).
|
|
Number of shares |
Ordinary shares £ |
Share premium £ |
Total £ |
|
At 30 June 2024 |
95,710,000 |
957,100 |
1,225,507 |
2,182,607 |
|
At 31 December 2024 |
95,710,000 |
957,100 |
1,225,507 |
2,182,607 |
|
At 30 June 2025 |
95,710,000 |
957,100 |
1,225,507 |
2,182,607 |
|
Issue of Shares 1 |
11,000,000 |
110,000 |
- |
- |
|
At 31 December 2025 |
106,710,000 |
1,067,100 |
1,225,507 |
2,182,607 |
1 On 14 November 2025, the Company issued 10,000,000 new Ordinary Shares at £0.01 per share. The shares were issued in consideration for the transfer of 86,956 shares in IntelliAM AI Plc, representing a non-cash transaction. The Company issued a further 1,000,000 new Ordinary Shares at £0.01 per share in lieu of fees.
Subsequent to the period end, the Company reached a settlement with a former consultant in relation to a claim for commission. In light of this, the Company has recognised an accrual of £40,000 in the interim financial statements to reflect the settlement amount. This payable was classified as a financial liability as at 30 June 2025 (Note 10). The net impact of the settlement is noted in the Income Statement as a gain of £20,056.
On 30 March 2026, the Company announced that Saqib Ahmed Mir ceased to be Chief Executive Officer and Executive
Director of the Company effective from 30 March 2026. Mr Mir also ceased to be Chief Executive Officer and a director of
Miriad Limited, a wholly owned subsidiary of the Company, with effect from the same date.
As of 31 March 2026 the Trans-Africa Energy ("TAE") CLN has not been repaid and the Company is currently in discussions with TAE regarding repayment and/or potential restructuring of the loan. Further announcements will be made as appropriate.