Business
Davictus PLC: Half-year Report
Davictus PLC: Half-year Report.
About this update from Davictus Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5614A\n daVictus plc\n 30 September 2020\n \n \n \n \n \n \n \n \n DAVICTUS PLC\n \n \n \n \n \n \n \n \n CONDENSED CONSOLIDATED UNAUDITED INTERIM FINANCIAL STATEMENTS\n \n \n \n \n \n For the six months ended 30 June 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n I am pleased to report the interim financial statements of Davictus PLC (the \"Company\" or Davictus\") for the six months ended 30 June 2020.\n \n \n \n \n \n The Company had, on the 19 February 2020, received approval from the Financial Conduct Authority for: \n \n \n (i) conditional acquisition by way of a reverse takeover of the intellectual property rights in a restaurant concept owned by Typical Dutch N.V. (\"TDNV\"); \n \n \n (ii) the placing of 900,000 new ordinary shares of no par value at 15 pence per share; and\n \n \n (iii) the admission of 12,150,00 ordinary shares of no par value to the Official List (by way of Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities. \n \n \n \n \n \n Subsequently, on 5 March 2020, the Company published a supplementary prospectus relating to the same which was duly approved by the Financial Conduct Authority on 5 March 2020. Subsequently on 10 March 2020, the Company's entire issued share capital of 12,150,000 ordinary shares was readmitted to the stock exchange.\n \n \n \n \n \n Despite the Covid-19 pandemic that had affected the world economy and especially the hard hit hospitality industry covering hotels and restaurants, the Company had managed to keep its business outlook positive. Having completed the reverse takeover exercise, the Company on the 26 March 2020, as the proprietor of the Havana Rolled Cigar Music Café premium dining franchise, signed a Memorandum of Understanding with Asia Food Venture Sdn Bhd for its appointment as the first franchisee for our premium dining restaurant concept. Accordingly, the franchise was successfully opened in July 2020.\n \n \n \n \n \n I am hopeful that with the launch of the first Havana franchise restaurant, the Company will continue to expand its business albeit slowly through the prevailing economic uncertainty that continues to affect the restaurant and in-house dinin...