Business
Final Results for the Year Ended 30 November 2020
Final Results for the Year Ended 30 November 2020.
About this update from Oscillate Plc
[{"type":"text","content":"\n \n \n \n DISCOVORE PLC\n (“d\n (“dD\n The directors present the strategic report for the year ended 30 November 2020.\n \n \n (“DISCOVORE\" OR THE “COMPANY”)\n \n \n \n \n \n \n Final Results for the Year Ended 30 November 2020\n \n \n \n \n \n \n \n Company Strategy, Business Review and Future Developments\n \n \n \n \n \n In 2019, the Company adopted a broader investment policy, enabling DiscovOre plc to invest in medical cannabis opportunities. 2020 and subsequently 2021 saw a noticeable increase in demand from investors and financiers seeking exposure to this new industry class, with listings in 2021 including Kanabo Group plc, MGC Pharmaceuticals Ltd, and Cellular Goods plc seeking admission of their shares to the London Stock Exchange, with all three companies achieving oversubscribed fundraises.\n The activity in capital markets and apparent consumer and investor interest to participate validated the Company’s decision to retain an active review of potential investment opportunities in the sector whilst also looking to further diversify its investment policies so as to allow enhanced flexibility, and investment opportunities that could generate short, medium, and long-term returns for the Company and our shareholders.\n To this end, the Company remains in active review of potential opportunities as permitted under our investment policy.\n Of perhaps most significance for our financial year-end, was the Company’s desire not to raise capital via equity or debt until the Directors of the Company had compelling reasons to do so. I am pleased to report that the Company diligently kept corporate overheads low and used its treasury to invest in both listed and unlisted investment opportunities to self-finance its operations.\n In late 2020, after much discussion, the Company posted a circular for its AGM, including a change of name and seeking the consent of shareholders to invest in special situations in the event an opportunity demonstrated clear value accretion for shareholders. This addition to the Company’s existing investment policy has allowed for increased exposure to deal-flow, broader engagement on investment opportunities, and the ability to secure opportunities that can perform when sentiment is on side, rather than being restricted to isolated asset classes for investment purposes.\n 2020 proved a challenging yea...