Final Results for the year-ended 30 September 2017

22 December 2017

A year of progress for the investment company which now has five companies within its portfolio

YOLO Leisure and Technology plc (AIM: YOLO), the AIM-quoted company focusing on opportunities in the technology and leisure sectors, announces its audited Final Results for the year-ended 30 September 2017.

During the period the Company continued its targeted investment strategy while crystallising gains for investors with management focused on creating further value by investing in existing and new opportunities.

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Financial Highlights

  • Total comprehensive income for the year £726,153 (2016: Loss £621,530)
  • Unrealised gains on investments of £657,935 (2016: losses £372,758)
  • Realised gains on disposal of investments of £270,559 (2016: £Nil)
  • As at 30 September 2017 gross assets were £4,558,402 (2016: £1,283,888)
  • Net fair value investments held was £3,875,483 (2016: £1,127,262)
  • Total Net Assets of £4,514,025 (2016: £1,206,871), representing 1.02p per share (2016: 0.68p)
  • On 7 November 2016 the Company placed 254,000,000 shares at 1.0p each raising total gross funds of £2,540,000.  A further 8,400,000 fee shares were also issued at a price of 1.0p
  • Cash at the bank at the year-end was £619,939 (2016: £139,412)

Investment Highlights

  • TVPlayer's platform is growing at more than 15% per month.  In November 2017 there were 1 million monthly active users and 40,000 paying subscribers.  The company is currently raising additional funds for expansion, and expects its valuation to be significantly higher than the previous rounds
  • Simplestream is planning to open US office in Q2 2018 with a view to doubling revenues in the next two years
  • Gfinity has made significant progress this year including the launch of the Elite Series season two and partnership with Formula One.  The Company realised a gain of £148,707 by reducing holding in Gfinity
  • AudioBoom continues to make good progress towards monetising its content platform.  The Company increased stake in AudioBoom as part of funding round in March
  • Magic Media Works recently launched its second product, Electric Jukebox ROXI, in the UK and US markets.  The Company invested a further £500,000 as part of the £1.2m Pre-IPO Loan Notes issued by Magic Media Works.  The Pre-IPO Loan Notes will convert into ordinary shares in Magic Media Works at a 33% discount to the share price on an IPO.  From 1 December 2017 the Loan Notes start to accrue interest at 10% per annum

Post-period highlights

  • TVPlayer raised a further £2.2 million of financing in December 2017 and Yolo participated with a convertible loan of £50,000.  The company expects to raise further funds in early 2018 to upgrade the TVPlayer platform, licence new content and support subscriber growth through marketing.
  • Magic Media Works secured commitments of £1.46million from existing and new investors towards an intended £2 million new round of funding.

Simon Robinson, CEO of YOLO Leisure & Technology plc, said:

"Yolo is well positioned as an investment company to actively grow its portfolio in 2018.  Our purpose is to identify innovative businesses that meet our investment criteria and have significant potential to deliver value for our shareholders.  We recognise the progress made in each of our portfolio companies and we look forward to building on this momentum in the exciting year ahead.

"We would like to thank our shareholders and advisors for continuing to show support in the Board and its vision."

Annual Report and Accounts

The Company's Annual Report and Accounts for the year to 30 September 2017 will be posted to shareholders shortly.  

 

For further information, please contact:

YOLO Leisure and Technology plc www.yoloplc.com
Simon Robinson                                   simon.robinson@yoloplc.com
Cairn Financial Advisers LLP
Sandy Jamieson, Emma Earl +44 20 7213 0880
Peterhouse Corporate Finance Limited Sole broker
Eran Zucker / Lucy Williams + 44 20 7469 0930
Walbrook PR Ltd +44 20 7933 8787 or yolo@walbrookpr.com
Paul McManus/Sam Allen +44 7980 541 893/+44 7884 664 686

Notes to editors

YOLO Leisure and Technology plc (www.yoloplc.com)

YOLO Leisure and Technology plc aims to focus on opportunities in the technology, leisure and media sectors. The Company's Investing Policy is that the Company will invest in businesses which have some or all of the following characteristics:

  • strong management with a proven track record;
  • ready for investment without the need for material re-structuring by the Company;
  • generating positive cash flows or imminently likely to do so;
  • via an injection of new finances or specialist management, the Company can enhance the prospects and therefore the future value of the investment;
  • able to benefit from the Directors existing network of contacts; and
  • the potential to deliver significant returns for the Company.

 

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