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LONDON - VVV Sports Limited (VVV) reported a £164,000 loss for the six months ended June 30, 2025, as the company completed its strategic pivot from mineral resource exploration to sports and media investments.
The company, which formally changed its name from VVV Resources Limited following shareholder approval at its June 9 AGM, raised £1 million through a conditional and underwritten subscription secured via Campana Investments Ltd. This capital raise significantly improved the company’s cash position from £5,000 at the end of December 2024 to £826,000 by June 30, 2025.
As part of its new direction, VVV Sports plans to focus on fast-growing racket sports including padel, pickleball, and beach tennis. The company intends to divest its legacy mineral assets, which currently include full ownership of the Mitterberg Copper Project in Austria and a 51% stake in the Shangri La polymetallic project in Western Australia.
The strategic shift prompted several board changes, with Jonathan Rowland joining as Executive Chairman and Richard Morecroft as Non-Executive Director, while David Ajemian resigned from his position.
VVV Sports also completed a debt-for-equity swap with R8 Noteholders, settling legacy loans owed to loan note holders of R8 Capital Investments plc and gaining an investment in the company.
The company reported no revenue for the period, with the loss primarily attributed to share-based payments, regulatory costs, and corporate overheads, according to the press release statement. The interim accounts have not been reviewed by the company’s auditors.
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