THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF
THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE
UNLAWFUL TO DO SO.
LEI number:
2138004EUUU11OVHZW75
450 plc
(the
"Company")
Interim Financial Statements
for the period ended 31 December 2023
The Company announces the
publication of its Interim Financial Statements for the period
ended 31 December 2023.
The Interim Financial Statements are
also available on the 'Shareholder Documents' page of the Company's
at www.450plc.com.
Key
highlights
Activity during the period and strategy
The Company's adopted investing
policy is to focus on building a market leader in the
traditional and digital creative industries, capitalising on the ongoing
transformation of the content, media and technology
sectors.
It is anticipated that the Company
will acquire controlling or non-controlling stakes in one or more
businesses or companies (quoted or private) on a long-term basis,
including the consideration of public offers for, or mergers with,
existing listed businesses. The investments made by the Company may
be in the form of equity or other types of capital
investment.
The Directors believe that
opportunities exist to create significant value for shareholders
through properly executed, acquisition-led growth strategies
arising within the traditional and digital creative industries
encompassing the content, media and technology sectors. The
Company's principal focus will be on making investments in the UK,
Europe or North America and will target companies with either a
well-established presence in their specific segments or companies
which are in a position to become leaders in their specific
segments.
The ongoing digital transformation
of the media and entertainment industries and widespread adoption
of digital media has led to a fundamental change in the way content
is created, consumed and engaged with. Audiences and consumers are
engaging with content across multiple formats, including
experiential and immersive media, utilising both physical and
digital delivery, alongside the associated emergence of augmented
and virtual reality technologies. The investment policy is included
in full on the Company's website at www.450plc.com.
Outlook
The Board continue to see promising
opportunities for investment in the content, media, and technology
sectors but remain cautious in their views on valuations and the
importance of identifying scalable and sustainably profitable
business models. The Board believe the ongoing technological
advancements and shifts in consumer behaviour are likely to provide
investment opportunities in a sector undergoing structural change,
with the Company's listed status and investment thesis being well
placed to capitalise on.
Results
The Group's loss after taxation for
the period to 31 December 2023 was £255,785 (31 December 2022: loss
of £557,820). The Group held a cash balance at the period end of
£3,908,829 (as at 30 June 2023: £4,148,886).
Enquiries:
450
plc
Tel:+44(0)207 004 2700
Waheed Alli
James Corsellis
Deutsche Numis (Nominated
Adviser)
Tel:+44(0)207 260 1000
Kevin Cruickshank
Jamie Loughborough
