These are the results for Levrett Plc for the interim period ended 31 December 2015.
The company was incorporated on 10 June 2015 and was admitted to the Official List of the UK Listing Authority on 17 December 2015.
Financial review
In the period to 31 December 2015, the Company recorded a loss of £197,929 (a loss per share of 0.37 pence). This includes certain non-recurring fees from the admission of shares to trading on the Standard List of the Main Market of the London Stock Exchange. The Company continues to be run with a measured and strategic approach to focus expenditure on identifying acquisition targets and performing necessary due diligence. The board does not recommend the payment of a dividend at this time.
Outlook
The recent announcements with regards to Immuno-Oncology advances highlights one example of how the Biotechnology sector in the UK continues to evolve and develop. There are a number of significant opportunities that would make suitable investment targets for Levrett, which was formed to acquire a target company with realisable or developed commercial technologies in the pharmaceutical and biotechnology sector.
The Company has made considerable progress towards identifying such targets focussed on four specific strategic sectors, being; Oncology, Diabetes, Obesity and Mental Health. The Board has reviewed a number of specific targets to date, within the UK, Europe and the United States. Whilst some of these have not met the investment criteria for the Company, the Board continues to review the other opportunities with a view to completing a suitable acquisition.
F J Lidgey
Chairman
