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Regulatory Story
Company St James House PLC
TIDM SJH
Headline Update on the Acquisition of Another Ops Limited
Released 16:30 30-Jul-2019
Number 2553H16

RNS Number : 2553H
St James House PLC
30 July 2019
 

30 July 2019

ST. JAMES HOUSE PLC

 

 ("SJH", the "Group" or the "Company")

 

Update on the Acquisition of Another Ops Limited

 

 

The Company announced the acquisition of Another Ops Limited ("Another" - subsequently renamed Market Access Limited) on 23 May 2019 (the "Announcement").  The Announcement included figures extracted from Another's management accounts, which were also included in the Company's annual report and accounts for the year to 31 January 2019, announced and published on 9 July 2019 (the "Annual Report").    On 24 June 2019, micro-entity accounts for Another were filed at Companies House (the "Filing"), which did not include a note relating to unpaid share capital (£349,800 as at the date of the accounts and £210,000 as at the date of acquisition).  The Filing also included the incorrect treatment of an amount outstanding from a then director of Another, which resulted in the understatement of the assets of Another by approximately £45,000.  The Group will be restating the accounts of Another for the year to 31 July 2018 and will be making a further filing at Companies House within the next two weeks.

 

The Company can confirm that the loss by Another for the period from incorporation (13 July 2017) to 31 July 2018 is materially as previously announced at £255,656 (£258,615 in the Announcement and Annual Report) and net assets (adjusted to include unpaid share capital as set out above) of £95,501 (£91,385 in the Announcement and Annual Report).  The Filing related to a period prior to the acquisition of Another and is not included in the Group accounts for the year to 31 January 2019, the acquisition of Another having completed after the Company year end.

 

For further information, contact:

 

St. James House PLC

Lord Razzall, Chairman

Website www.sjhplc.com

 

020 7493 9644

Allenby Capital Limited

(Nomad, Financial Adviser & Broker)

John Depasquale / Nick Harriss

020 3328 5656

 

 

 

 


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