UK Regulatory | 30 September 2025 13:44
VVV Sports Limited: Interim Results for the six months ended 30 June 2025
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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 |
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Notes |
£’000 |
£’000 |
£’000 |
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Continuing operations |
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Revenue |
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Investment income |
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– |
– |
– |
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Total gains on AFS investments |
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– |
– |
– |
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Administrative costs |
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(153) |
(91) |
(191) |
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Expenses settled by issuance of shares |
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– |
(100) |
(100) |
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Expense for Warrants |
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(11) |
– |
– |
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Operating (loss) |
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(164) |
(191) |
(291) |
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Finance costs |
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– |
– |
– |
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(Loss) before tax |
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(164) |
(191) |
(291) |
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Taxation |
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– |
– |
– |
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(Loss) for the period |
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(164) |
(191) |
(291) |
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Other comprehensive income |
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Translation exchange (loss)/gain |
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– |
– |
– |
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Impairment of investment in joint venture |
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– |
– |
(136) |
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Total Comprehensive Income for the year attributable to the owners of the parent company |
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(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 |
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Notes |
£’000 |
£’000 |
£’000 |
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ASSETS |
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Non-current assets |
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Intangible assets |
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350 |
350 |
350 |
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Investments accounted for using the equity method |
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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 |
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18 |
12 |
18 |
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Cash and cash equivalents |
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827 |
9 |
5 |
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845 |
21 |
23 |
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Total assets |
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3098 |
507 |
373 |
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LIABILITIES |
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Current liabilities |
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Trade and other payables |
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(2,216) |
(141) |
(247) |
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Total current liabilities |
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(2,216) |
(141) |
(247) |
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Total liabilities |
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(2,216) |
(141) |
(247) |
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Net Assets |
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881 |
366 |
126 |
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EQUITY |
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Equity attributable to equity holders of the parent |
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Share capital |
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– |
– |
– |
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Share premium account |
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2,473 |
1,565 |
1,565 |
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Share based payment reserve |
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76 |
25 |
65 |
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Retained earnings |
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(1,668) |
(1,224) |
(1,504) |
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Total equity |
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881 |
366 |
126 |
Unaudited Condensed Group Statement of Cash Flows
for the six months ended 30 June 2025
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Consolidated |
Consolidated |
Consolidated |
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6 months to |
6 months to |
Year to |
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30 June 2025 |
30 June 2024 |
31 December 2024 |
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Unaudited |
Unaudited |
Audited |
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£’000 |
£’000 |
£’000 |
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Cash flows from operating activities |
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Operating (loss) |
(164) |
(191) |
(291) |
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Adjustments for: |
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Share based payment expense |
11 |
– |
– |
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Increase in investments |
(1,902) |
– |
– |
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Issue of shares to settle liabilities |
910 |
100 |
100 |
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Decrease/(increase) in trade and other receivables |
– |
14 |
7) |
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Increase/(decrease) in trade and other payables |
1,967 |
50 |
153 |
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Net cash used in operating activities |
822 |
(27) |
(31) |
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Investing activities |
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Finance Costs |
– |
– |
– |
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Investment in intangible assets |
– |
– |
– |
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Net cash outflow in investing activities |
– |
– |
– |
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Financing activities |
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Issue of share capital |
– |
– |
– |
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Net cash from financing activities |
– |
– |
– |
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Net change in cash and cash equivalents |
822 |
(27) |
(31) |
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Cash and cash equivalents at beginning of period |
5 |
36 |
36 |
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Cash and cash equivalents at end of period |
827 |
9 |
5 |
Notes to the condensed interim financial statements
1. General Information
Basis of preparation and accounting
The financial information has been prepared on the historical cost basis. The Company’s business activities, together with the factors likely to affect its future development, performance and position are set out in the Chairman’s Statement. This statement also includes a summary of the Company’s financial position and its cash flows.
These condensed interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union with the exception of International Accounting Standard (‘IAS’) 34 – Interim Financial Reporting. Accordingly, the interim financial statements do not include all of the information or disclosures required in the annual financial statements and should be read in conjunction with the Company’s 2024 annual financial statements.
2. Earnings per share
The calculation of the basic earnings per share is based on the earnings attributable to ordinary shareholders divided by the weighted average number of shares in issue during the year. The calculation of diluted earnings per share is based on the basic earnings per share, adjusted to allow for the issue of shares and the post-tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.
Reconciliations of the earnings and weighted average number of shares used are set out below.
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Six months to |
Six months to |
Year ended |
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30 June 2025 |
30 June 2024 |
31 December 2024 |
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(Unaudited) |
(Unaudited) |
(Audited) |
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(£’000) |
(£’000) |
(£’000) |
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Net loss attributable to equity holders of the company |
(164) |
(191) |
(291) |
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Number of shares Weighted average number of ordinary Shares for the purposes of basic loss per share |
10,291,329 |
3,174,735 |
7,476,311 |
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Basic and diluted loss per share (pence) |
(1.59) |
(6.02) |
(3.89) |
3. Events after the reporting date
The Company formalised its change of name from VVV Resources Limited to VVV Sports Limited , which took effect on 27 August 2025 . This reflected the strategic shift approved earlier in the year toward sports and media investments. The Company’s ticker (VVV), SEDOL, and ISIN remained unchanged, and a new corporate website was launched at www.vvvsports.pro . In a further governance update, Benjamin Hill , Non-Executive Director, resigned from the Board with effect from 4 September 2025 . There were no other material events after the reporting date that require disclosure or adjustment to the interim financial statements as at 30 June 2025.
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
| ISIN: | VGG9470B1004 |
| Category Code: | MSCM |
| TIDM: | VVV |
| LEI Code: | 213800OEUSH43X859D83 |
| Sequence No.: | 403685 |
| EQS News ID: | 2206056 |
| End of Announcement | EQS News Service |
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