Interim Results for the Half-Year to 30 June 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.

29 September 2022

Igraine Plc

(“Igraine” or “the Company”)

Interim Results for the Half-Year to 30 June 2023

Igraine plc, Directors Statement,

We are pleased to present the interim results for Igraine plc (AQUIS: KING) for the period ending 30 June 2023. This reporting period has unfolded in a challenging economic environment, but we are encouraged by the positive developments in our ongoing discussions and commercialisation efforts.

Despite the economic headwinds, our maiden investment with Excalibur Medicines Ltd (“EML”) continues to progress positively. Igraine owns a 2% interest in EML that was awarded the exclusive commercial rights to and owns the patents on a drug, AZD1656, which is being developed as a potential therapeutic for diabetics suffering from COVID-19. The Excalibur team is actively engaged in commercialisation discussions, with a preference for a potential trade sale. The Company will update the market in due course.

Additionally, recognising the volatility in global financial markets, we remain vigilant and proactive. We are actively exploring opportunities with businesses that offer fundamentally strong value propositions.

The interim financial results have not been reviewed by the Company’s auditor.

On behalf of the Board

Steve Winfield

Executive Director

INTERIM INCOME STATEMENT (UNAUDITED)

For the period ended 30 June 2023

		Igraine plc
		6 mths to		6 mths to
		30 June		30 June
		2023		2022
		£ GBP		£ GBP
Revenue		-		-
Cost of Sales		-		-
Gross Profit/(Loss)		-		-
Other Operating Income		-		-
Loss on revaluation of investments		(43,049)		-
Administrative Expenses		(82,020)		(128,223)
Loss before Investment Activities		(125,069)		(128,223)
Interest income		2,479		-
(Loss) before Amortisation of Preference Shares		(122,590)		(128,223)
Profit/(Loss) before Taxation		(122,590)		(128,223)
Taxation Expense		-		-
Total Comprehensive Income attributable to Equity Holders of the Company		(122,590)		(128,223)

STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

As at 30 June 2023

	Igraine plc
	As at		As at
	30 June		30 June
	2023		2022
	£ GBP		£ GBP
Assets
Non-current assets
Property, plant and equipment	-		2,089
Investments	818,013		615,113
	818,013		617,202
Current assets
Trade and other receivables	118,625		148,302
Cash and cash equivalents	226,174		765,723
	344,799		914,025
Total assets	1,162,812		1,531,227
Equity and liabilities
Equity
Issued share capital	588,785		588,785
Share Premium	1,946,995		1,946,995
Other reserves	46,116		46,116
Retained earnings	(1,640,657)		(1,300,926)
	941,239		1,280,970
Non current liabilities
Loans and borrowings	24,946		43,788
Current liabilities
Trade and other payables	196,627		206,469
Total liabilities	221,573		250,257
Total equity and liabilities	1,162,812		1,531,227

THE DIRECTORS OF THE COMPANY TAKE RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

Enquiries

Company:

Simon Grant-Rennick (Executive Director)

Steve Winfield (Executive Director)

Aquis Growth Market Corporate Adviser

Peterhouse Capital Limited

Guy Miller / Mark Anwyl

Tel: [phone]

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