Business
Final Results for the year ended 30 April 202...
Final Results for the year ended 30 April 202....
About this update from Vaultz Capital Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n Helium Ventures plc(“Helium Ventures” or the “Company”)Final Results for the year ended 30 April 2024 Helium Ventures plc (AQSE: HEV), a special purpose acquisition vehicle announces its audited final results for the year ended 30 April 2024.Following the publication of the final results for the year ended 30 April 2024, the ordinary shares in the Company will be restored to trading on the AQSE Growth Market with effect from 08:00 a.m. on 10 December 2024. CHAIRMAN’S STATEMENT I am pleased to present the Chairman’s statement for the Company, covering the twelve months to 30 April 2024. The Company continues to hold an interest in two investments: Vestigo Technologies Ltd (“Trackimo” or “Vestigo”) and Blue Star Helium Limited.On 6 June 2024 the Company entered into an agreement to subscribe for £250,000 new ordinary shares in Trackimo with the proceeds of a placing. The Company also agreed to receive a total value of £1.55 million in Trackimo shares at the Trackimo IPO subscription price, or at price to be determined by an independent valuation of Trackimo. By agreement with Trackimo, since an IPO had not proceeded by the long-stop date, the Company was issued with 1,032,407 Class-A shares in Trackimo at a price of approximately 184p per share, representing 19.36% of Trackimo, on 6 June 2024.The Company also holds 7,142,858 ordinary shares in Blue Star Helium Limited, an ASX listed company with a portfolio of helium acreage in the USA. Blue Star has made further progress during recent months including a 50% farm-out of its Galactica helium project to AIM quoted Helium One Global Limited. It is hoped that the Blue Star equity valuation will fully reflect the underlying value once helium production is established within their portfolio.The Board continues to seek out strategic opportunities, globally, to enhance the value of the Company’s shares following the termination of the Trackimo IPO. That work is ongoing and shareholders will be updated in the future year as opportunities to create value are identified.I would like to thank our shareholders, my fellow directors, and our professional advisers for their ongoing support. Neil Ritson, Non-Executive Chairman 9 December 2024 MATERIAL UNCERTAINTY RELATED TO GOING CONCERN The Auditors have drawn att...