26 October 2016
Draganfly Investments Limited ("Draganfly" or the "Company") Annual ResultsThe Board of Draganfly, the AIM quoted investing company, are pleased to announce its annual results for the year ending 30 April 2016.
Copies of the annual report and accounts for the year ended 30 April 2016 will be available to view and download from the Company's website www.draganflyinvestments.com.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 of the European Parliament and of the
Council.
For further information please contact:
T Edward G Bayman +44 (0) 1534 787898
Dennis Edmonds +44 (0) 7796 338 372
Tom Price I David Hignell
Northland Capital Partners (Nominated Adviser) +44 (0) 20 3861 6625
Jon Belliss
Beaufort Securities Limited (Broker) +44 (0) 20 7382 8300
Chairman's Statement For the year ended 30 April 2016In July 2016 the Company raised gross proceeds of £129,350 by way of a subscription. The Company's broker has also raised additional funds of
£ 145,000 (before expenses) in September 2016 by way of a placing of new ordinary shares. The additional funding has provided the Company with liquidity and scope to explore and develop investment opportunities.
The Board are looking into the possible investment opportunities and hope to be in a position to update our shareholders in the coming months.
We thank you for your support.
Edward Bayman Chairman
Directors' Report For the year ended 30 April 2016The directors present their report and the financial statements for the year ended 30 April 2016.
Principal activityThe princi pal activity of the compa ny was as an investment trading and holding company. The company is registered and managed in Jersey.
Review of the business and future developmentsThe original investment brief is to run a small and focused portfolio of investments. The Statement of financial position total has decreased from £125,585 (net assets of 0.36p per share) on 30 April 2015, to £45,918 (net assets of 0.13 p per share) on 30 April 2016. For the year ended 30 April 2016 the company made a Joss of £79,667 (2015 - loss of
£250,914), which includes an unrealised loss on the company's investments of £2,924 (2015 - Joss of £3,326).
The key performance indicator used to monitor the progress of the business is net assets per share.
At 30 April 2016, the company held two investments, the same as at 30 April 2015.
The board is always alert to fresh investment opportunities but does not anticipate materially increasing the number of holdings at this stage. The board believes the current environment for small companies and pre-IPO investments remains very encouraging.
DividendsThe directors are unable to recommend payment of a final dividend.
Statement of income and retained earnings for the year ended 30 April 2016
Fair Value loss on investments
Income
Administrative expenses
Operating loss
Taxation
Loss on ordinary activities after taxation and loss for the financial year
Retained loss at 1May
Distribution in specie
Year End Year End
30/4/16 30/4/15
£ £
(2,924) (3,326)
1 36 53 (2,788) (3,273)
(76,879) (247,641)
(79,667)(250,914)
(79,667) (250,914)
(3,470,988) (2,540,855)
(679,219)
Retained loss at 30 April (3,550,655) (3,470,988)
Loss per share (pence)
Basic & diluted 0.23 1.14
Draganfly Investments Ltd. published this content on 26 October 2016 and is solely responsible for the information contained herein.
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