Business
Results for the 12 months ended 31 December 2023
Results for the 12 months ended 31 December 2023.
About this update from Valereum Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of\nUK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\")\n \n28/06/2024\n \n \n \n \n\n\nValereum Plc (\"Valereum\" or the \"Company\")\nResults for the 12 months ended 31 December 2023\n \nValereum Plc (AQSE: VLRM), a company focused on unlocking capital and creating value in tokenised digital markets as both a marketplace operator and leading provider of technology solutions, today announces its results for the twelve months ended 31 December 2023.\n \nKey highlights in 2023:\n \n· Significant reduction in losses to £0.3m from a loss of £4.3m in 2022. This follows gains from the Company's holding in Vinanz Ltd, a listed asset which was received during the year, together with a reduced level of impairments of previous investments.\n· Total assets increased to £2.4m (2022: £1.2m) due to the receipt of the Vinanz holding in 2023.\n· Net debt reduced to £0.2m (2022: £1.3m) following a £1.3m decrease in the convertible loans owed by the Company. This was achieved through a combination of conversions, repayments and negotiated reductions.\n· Expanded Board of Directors from 3 to 6, including 2 Non-Executive Directors. This now provides greater bandwidth and experience following the replacement of the previous management team to support business growth and development.\n \nJames Formolli, Chairman, added:\nI am greatly encouraged by the advancements made in the last quarter of 2023 and I look forward to building on this progress and delivering value for all of Valereum's stakeholders in 2024 and beyond.\n The Company's audited financial results for the 12-month period to 31 December 2023 can be found at www.vlrm.com\nFor further information, please contact:\nEnquiries: \nValereum Plc \nJames Formolli, Chairman \nTel: +971 4584 6284 \nStanford Capital Partners \nTel: 023 3650 3650\nBob Pountney\nPatrick Claridge\n \n \nAQSE Corporate Adviser \nFirst Sentinel Corporate Finance \nBri...