Information  X 
Enter a valid email address

Worldsec Limited (WSL)

  Print      Mail a friend

Thursday 01 April, 2021

Worldsec Limited

Trading Statement

RNS Number : 3620U
Worldsec Limited
01 April 2021
 

      1st April 2021 

 

Worldsec Limited

 

Inside information

 

This announcement is released by Worldsec Limited ("the Company", together with its subsidiaries, "the Group") and contains a profit estimate and inside information for the purposes of Article 7 of the UK Market Abuse Regulation.

 

The board of directors (the "Board") wishes to announce that, based on a preliminary review of the unaudited management accounts of the Group, it is anticipated that there will be a profit attributable to owners of the Company for the year ended 31st December 2020 of an estimated US$900,000, as compared with losses in previous years. The estimated profit would primarily be the result of a positive change in the fair value of the Group's holdings in the Unicorn Equity Investment Portfolio Class D Shares (the "Homaer Class D Shares") of the Homaer Asset Management Master Fund SPC as a result of an increase in the valuation of the underlying investment in Beijing ByteDance Technology Co. Ltd. ("ByteDance").

 

Subsequent to the year ended 31st December 2020, on 31st March 2021 the Group redeemed 15% of its holdings in the Homaer Class D Shares for net cash proceeds of approximately US$400,000. The Board intends to use the proceeds generated from the redemption of these shares for general working capital and/or to fund acquisitions of future investments. Any such investments will be made in accordance with the investment policy of the Company.

 

The information relating to the positive profit alert statements contained in this announcement, which is based on a preliminary assessment by the Board with reference to the Group's unaudited management accounts for the year ended 31st December 2020, has not been reviewed by the Company's audit committee nor audited by the Company's auditor.

 

By order of the Board

Henry Cheong

Director

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTSSEFDFEFSESL

a d v e r t i s e m e n t