from VVV Resources Limited (isin : VGG9470B1004)
VVV Sports Limited: Interim Results for the six months ended 30 June 2025
VVV Sports Limited (VVV)
VVV Sports Limited ("VVV” or the “Group”)
Interim Results for the six months ended 30 June 2025
VVV Sports Limited announces its unaudited interim results for the six months ended 30 June 2025.
OVERVIEW
The Company’s goals for the six months to 30 June 2025 were to focus from mineral resource exploration to the sports and media investment sector, with an emphasis on fast-growing racket sports such as padel, pickleball, and beach tennis.
This transition was formalised following shareholder approval at the AGM held on 9 June 2025, at which point the Company’s name was officially changed from VVV Resources Limited to VVV Sports Limited. To support this new direction, the Company completed a conditional and underwritten subscription to raise £1,000,000 (gross), which was secured via Campana Investments Ltd. As part of a wider recapitalisation, the Company also issued shares to settle legacy loans owed to loan note holders (“R8 Noteholders”) of R8 Capital Investments plc.
The Company’s current investments comprise 100% of the Mitterberg Copper Project in Austria and a 51% holding of the Shangri La polymetallic project in Western Australia. The Mitterberg concessions comprise 198 contiguous licences over some 90 square kilometres located approximately 60 kilometres south of Salzburg. The Shangri La project comprises 10 contiguous hectares of what appears to be a polymetallic mineral assemblage comprising gold, silver and copper. In the period as part of the R8 Noteholders debt for equity swap, the arrangement gained the Company an investment in R8 Capital Investments Plc.
Several board changes occurred to align governance with the new strategy, including the resignation of David Ajemian and the appointment of Jonathan Rowland as Executive Chairman and Richard Morecroft as Non-Executive Director.
The Board remains confident that the private and pre-IPO markets remain significantly under-served and as such significant opportunities exist for the Company going forward.
Operationally, the Company intends to divest its legacy resource assets and focus exclusively on sports-related opportunities going forward. The financial position at 31 December 2024 showed minimal cash reserves (£5,000), though this was significantly improved post-period following the capital raise, bringing cash resources to approximately £826,000.
We would like to thank all our shareholders for their continued support and look forward to updating you on further news in due course.
Jonathan David Rowland
Executive Chairman
FINANCE REVIEW The loss for the period to 30 June 2025 was £164,000 (30 June 2024: £191,000 and 31 December 2024: £427,000 loss) which mainly related to share-based payments, regulatory costs and other corporate overheads. The total revenue for the period was nil. At 30 June 2025, the Company had cash balances of £826,000 (30 June 2024: £9,000 and 31 December 2024: £5,000). The interim accounts to 30 June 2025 have not been reviewed by the Company’s auditors.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
Unaudited Condensed Group Statement of Comprehensive Income |
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| 6 months to | 6 months to | Year ended |
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| 30 June 2025 | 30 June 2024 | 31 December 2024 |
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| Unaudited | Unaudited | Audited |
| Notes | £’000 | £’000 | £’000 |
Continuing operations |
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Revenue |
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Investment income |
| - | - | - |
Total gains on AFS investments |
| - | - | - |
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Administrative costs |
| (153) | (91) | (191) |
Expenses settled by issuance of shares |
| - | (100) | (100) |
Expense for Warrants |
| (11) | - | - |
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Operating (loss) |
| (164) | (191) | (291) |
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Finance costs |
| - | - | - |
(Loss) before tax |
| (164) | (191) | (291) |
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Taxation |
| - | - | - |
(Loss) for the period |
| (164) | (191) | (291) |
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Other comprehensive income |
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Translation exchange (loss)/gain |
| - | - | - |
Impairment of investment in joint venture |
| - | - | (136) |
Total Comprehensive Income for the year attributable to the owners of the parent company |
| (164) | (191) | (427) |
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(Loss) per share: |
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Basic and diluted (loss) per share (pence) | 2 | (1.59) | (6.02) | (3.89) |
Unaudited Condensed Group Statement of Financial Position
as at 30 June 2025
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| Group | Group | Group |
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| 30 June 2025 | 30 June 2024 | 31 December 2024 |
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| Unaudited | Unaudited | Audited |
| Notes | £’000 | £’000 | £’000 |
ASSETS |
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Non-current assets |
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Intangible assets |
| 350 | 350 | 350 |
Investments accounted for using the equity method |
| 1,902 | 136 | - |
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| 2,252 | 486 | 486 |
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Current assets |
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Trade and other receivables |
| 18 | 12 | 18 |
Cash and cash equivalents |