Business
Final Results
Final Results.
About this update from Emv Capital Plc
[{"type":"text","content":"\n \n \n \n NetScientific plc\n \n \n \n (\"NetScientific\", \"NSCI\", the Group\" or the \"Company\")\n \n \n \n \n \n \n Preliminary Results for the year ended 31 December 2021\n \n \n \n \n \n \n \n \n \n Good results demonstrate excellent progress in growth strategy to realise shareholder returns\n \n \n \n \n \n \n \n \n NetScientific plc (AIM: NSCI), the international life sciences and sustainability, technology investment and commercialisation group, announces its preliminary results for the year ended 31 December 2021.\n \n \n \n \n \n This was an\n excellent year of progress for the company\n as shown in the results.\n Implementation of its\n planned growth strategy\n has accelerated\n and delivered a step change, both strategically and tactically.\n \n \n \n \n \n \n Highlights:\n \n \n \n · \n Practical completion of the business turnaround\n \n \n · \n Proactive management focused on delivering significant returns\n \n \n · \n Raised £7.7 million in an oversubscribed placing \n \n \n o \n Enabled acceleration of investment and growth\n \n \n · \n Further expansion of the well-balanced portfolio from 17 to 22 companies in targeted sectors\n \n \n o \n Deeper involvement in selected companies, potential for greater returns;\n \n \n o \n Judicious investments, combining direct balance sheet with \"capital light\" approach\n \n \n o \n Direct investments of c.£4.5m in 9 portfolio companies, plus Cetromed acquisition and new stake in Martlet Capital - supplemented with syndicated investments adding £7.5m to \"capital under advisory\"\n \n \n o \n Key value inflection points identified for profitable liquidity events and exits\n \n \n · \n Loss for the year of £2.9m (2020: loss £2.3m) reflecting substantial expensed R&D investment and continued building of the NetScientific platform\n \n \n · \n Transformed financial position\n \n \n o \n Increases of around 50% in \"fair value\" and \"capital under advisory\"\n \n \n o \n Strengthened balance sheet, 69% increase in cash to £2.7 million (2020: £1.6 million)\n \n \n o \n 156% increase in total assets £20.7 million (2020: £8.1 million)\n \n \n · \n Progress in \"Trans-Atlantic bridges\" programme and i...