Gunsynd losses widen

Gunsynd posts an after-tax loss of £510,000 for the year to the end of Julyc compared with a loss of £376,000 in 2015.

This loss included an impairment provision of £301,000 for available-for sale assets. (2015: reversal of £72,000). The company had net assets of £1,307,000 (2015: £1,568,000) including cash balances of £358,000 (2015: £452,000) at 31 July 2016. On 23 February, the Company announced it had raised £350,000 through the issue of 500 million new shares at a placing price of 0.07 pence per share. The funds were used for general working capital purposes and to assist in seeking further investment opportunities.

On 6 October 2015, the company announced that it had applied to ISDX for admission of its issued share capital to trading on the ISDX Growth Market, and on 19 October 2015 it announced that its ordinary shares had commenced trading on the ISDX Growth Market and that its ordinary shares also continued to be traded on AIM.

At 9:43am: (LON:GUN) Gunsynd Plc Ord 0.01p share price was 0p at 0.06p