Jade Road Investments Ltd - Hong Kong based investment company - Net asset value falls to USD50,000 in 2023 from USD15.1 million last year. Saw net profit loss of USD17.7 million narrow from USD52.9 million last year. On December 31, 2023 had total cash of USD80,000, down 73% from USD300,000 in 2022. Disposes legacy Asian assets as they gained minimal benefit from Jade Road's low share price. Company is currently looking to make an acquisition through a reverse takeover. Will need to raise interim capital by end of August to conduct RTO.
Chairman John Croft: says: "Following the restructuring outlined above, JADE effectively becomes a shell company in search of a potential acquisition via a Reverse Take Over or an alternative investment platform with new principals. Discussions are ongoing with a number of potential acquisition targets. Further details of any such putative transactions will be provided in due course."
Current share price: 1.25 pence
12-month change: down 31%
By Aidan Lane, Alliance News reporter
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Jade Road Inv (JADE)