Gledhow Investments plc: Final Results to 30 September 2023 and Notice of AGM

Gledhow Investments plc

("Gledhow" or the "Company")

AQSE: GDH

Audited Final Results to 30 September 2023

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 2023.

The Directors continue to follow the same investment strategy, namely to invest in small to medium-sized undervalued or fast growing companies, with the investment objective of achieving long term capital growth in excess of the FTSE All Share Index.

The Company had cash of £174,052 at the year-end (2022: £111,937). The pre-tax loss was £285,740 (2022: pre-tax loss of £1,064,259).

In what proved to be a difficult year in the public markets, the market value of the Company’s investments declined by £279,655.

The Company has continued to hold positions in AIM, LSE and Aquis 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 33% in Aquis Growth Market companies, approximately 51% in AIM and LSE quoted/listed companies, and a remaining small percentage in private companies, having invested on a pre-IPO basis. Whilst the directors continue to caution that there is a historically perceived lack of liquidity generally in Aquis Growth Market traded companies, since the financial year end, the Company has managed to sell down some of the Aquis Growth Market portfolio. As at today’s date, the unaudited cash balance is approximately £280,000, after the audit cost.

The Company does not recommend the payment of a dividend for the year end to 30 September 2023.

G R Miller

Managing Director

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

The Notice of Annual General Meeting is set out at the end of this announcement.

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

Enquiries:

Guy Miller: + 44 (0) 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 2023

The income statement has been prepared on the basis that all operations are continuing operations.

Statement of Financial Position as at 30 September 2023

The financial statements were approved by the Board and authorised for issue on 6 February 2024.

G R Miller

Director

Company No. 03848331

Statement of Changes in Equity for the year ended 30 September 2023