Business
Final Results & Notice of AGM
Final Results & Notice of AGM.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \nRNS Number : 4811T Gunsynd PLC 12 October 2017 \n\nGunsynd plc\n \n(\"Gunsynd\" or the \"Company\")\nFinal Results and Notice of Annual General Meeting\nGunsynd (AIM: GUN, ISDX: GUN) is pleased to announce that its Final Results for the year ended 31 July 2017 and Notice of Annual General Meeting will both be posted shortly to shareholders and will be available on the Company's website: http://www.gunsynd.com/ .\nThe Annual General Meeting to be held at 12.00 p.m. on 3 November 2017 at the offices of Hill Dickinson LLP at Broadgate Tower, 20 Primrose Street, London, EC2AV 6DN.\n \nFor further information, please contact:\n \n\n\n\n\nGunsynd plc\nHamish Harris\n \n\n\n \n+44 20 7440 0640\n\n\n\n\nCairn Financial Advisers LLP\nJames Caithie / Liam Murray\n\n\n \n+44 20 7213 0880\n \n\n\n\n\nPeterhouse Corporate Finance\nLucy Williams\n\n\n \n+44 20 7469 0930\n \n\n\n\n\n \nCHAIRMAN'S REPORT (INCORPORATING THE STRATEGIC REVIEW)\n \nI am pleased to present the annual report and financial statements for the year ended 31 July 2017.\n \nFinance Review \nThe Company made a profit for the year of £492,000 (2016: loss of £564,000) after taxation. This profit originated from realised gains on disposals of its listed investments of £408,000 along with market value revaluation gains of £417,000 (2016: losses £54,000). The Company had net assets of £3,266,000 (2016: £1,307,000) including cash balances of £372,000 (2016: £358,000) at 31 July 2017.\n \nDuring the period, the Company announced it had raised approximately £1.55 million through the issue of approximately 3.65 billion new shares at an average placing price of 0.0425 pence per share. The funds have been used to make further investments and for general working capital purposes.\n \nReview of Investments \nThe reporting period has been one of activity and pleasing results for the Company. We have substantially increased our investment portfolio with new investments in Oyster Oil and Gas and United Oil and Gas.\n \nThe Company has divested the majority of its stakes held in Zenith and Alba and completely disposed of legacy positions in Integumen and Georgia Mining and a recent investment in Pires Investments.\n \nOyster Oil and Gas Limited (\"Oyster\") &nb...