OPTIMA WORLDWIDE GROUP PLC
NASDAQ FIRST NORTH, COPENHAGEN TICKER: OWG
FOR RELEASE 28 SEPTEMBER 2016
APPROVAL OF THE GROUP'S ANNUAL CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2016
The Directors of OWG plc today approved the annual accounts for the year ended 30 June 2016. The accounts are attached to this release and have also been published on the Company's website at www.owgplc.com
Commenting in the Chairman's Report, Neal Griffith noted:
"I am pleased to report to my shareholders that the last 12 months have seen a period of continued development and significant investment into the group and its various subsidiaries during continuing global uncertainty in the capital markets.
"We have also experienced the UK's decision to leave the European Union, which will and has caused further uncertainty in the capital markets and has directly impacted the group. However, I am confident that in the longer term the group companies could well benefit from BREXIT and we have seen markets rebound from the initial turmoil that this decision created.
"Financial position - The net profit / (loss) of the group for the year was (£119,468) (2015: £2,430,899) and the group's Net Assets were in excess of Net Liabilities by £841,564 compared to last year's Net Liabilities were in excess of Net Assets by (£923,551).
"The loss for the year under review is based on the group's strategic investments in quoted and unquoted securities, which in the short term, due to uncertainties mentioned above, were impaired. The Group is confident that these investments will perform strongly over the longer term, which will in turn add significant value to the group's financial position.
"We will continue to report under the guidelines of the quoted companies' alliance and will be reviewing all appropriate governance to oversee the group's activities.
"All in all I believe we have had a most satisfactory year and good progress has been made across the group and I see this continuing and ultimately resulting in a substantial uplift in our shareholders' investment.
"I look forward to reporting next year when I hope that all our hard work and effort will start to show the results and rewards."
The Company's Annual General Meeting is scheduled to be held on 24 November 2016 and the financial results for the six-month period to 31 December 2016 are scheduled to be released to the market on 27 February 2017.
THE DIRECTORS OF OPTIMA WORLDWIDE GROUP PLC ACCEPT RESPONSIBILITY FOR THIS ANNOUNCEMENT
Optima Worldwide Group PLC is the Parent company for the Group. The Group is engaged in the provision of financial and related professional services and holds investments in a number of companies, the principal operating subsidiaries being Brandon Hill Capital and Strand Capital, each being regulated by the UK Financial Conduct Authority ("FCA")
Further information may be found at the Company's website: www.owgplc.com
Company contact details:
+44 (0) 844 997 2082
Certified Adviser:
Keswick Global AG
+43 1 740 408045
