Gledhow Investments plc: Audited Final Results to 30 September 2024 and Notice of AGM

10 March 2025

Gledhow Investments plc

("Gledhow" or the "Company")

AQSE: GDH

Audited Final Results to 30 September 2024

Notice of Annual General Meeting

I have the pleasure in presenting your Company’s Annual Report and Financial Statements for the year ended 30 September 2024.

Whilst the Company’s trading activity has reduced with low levels of fundraising in the small microcap UK public markets, the directors continue to follow an investment strategy, through investing in small undervalued or fast growing companies, with the investment objective of achieving long term capital growth in excess of the FTSE All Share Index. Opportunities in the UK public markets are presenting themselves and the Company is taking some advantage of market volatility.

The Company had cash of £150,426 at the year-end (2023: £174,052). The pre-tax loss was £422,980 (2023: pre- tax loss of £285,740).

In what proved to be a difficult year in the public markets, the market value of the Company’s investments declined by £419,412.

The Company has continued to hold positions in AIM, LSE and Aquis Stock Exchange Growth Market traded companies, including those companies at early stages of development, and some pre-IPO investments. Of the companies in the portfolio at the year end, the Company held approximately 22% in Aquis Growth Market companies, approximately 63% in AIM and LSE quoted/listed companies, and a remaining small percentage in private companies, having invested on a pre-IPO basis. Since the year end, the Company has managed to sell down some of the Aquis Growth Market portfolio. The directors continue to caution that there is a historically perceived lack of liquidity generally in Aquis Growth Market traded companies. Since the year end, the Company has made approximately £92,000 (of which £52,236 has already been recognised in the statement of comprehensive income for the year ended 30 September 2024, as part of the fair value adjustment on investments) in net profits on the exercise and sale of Mobile Streams PLC shares, following the exercise of warrants. As at today’s date, the Company has unaudited cash of approximately £220,000.

The Company does not recommend the payment of a dividend for the year end to 30 September 2024.

The Notice of Annual General Meeting (“AGM”) is set out at the back of the annual report and accounts. The AGM Notice is being posted to shareholders and will be held on 4 April 2025 at 3.00 pm at the offices of Peterhouse Capital Ltd, 3rd Floor, 80 Cheapside, London, EC2V 6EE.

G R Miller

Managing Director

The full audited accounts will shortly be available at the Company website at http://www.gledhowinvestments.com/

The Directors of the Company accept responsibility for the contents of this announcement.

For further information please contact:

Guy Miller                        020 7220 9795    (Gledhow Investments plc)

Auditor conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our evaluation of the directors’ assessment of the company’s ability to continue to adopt the going concern basis of accounting included assessing the directors’ plans for the future, confirming investment and cash balances, together with fixed operating costs for the foreseeable future.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Statement of Comprehensive Income for the year ended 30 September 2024

Statement of Financial Position as at 30 September 2024

Statement of Changes in Equity for the year ended 30 September 2024