1st February 2021
Shareholder Update – Wealth Dragons Group PLC
Firstly, may I wish you all a Happy New Year and trust that you were able to have as good a Christmas and New Year as possible despite the present restrictions.
When I last wrote to you in October 2020, I had anticipated that the situation with the pandemic may have begun to ease but we now find ourselves in a further lockdown. Businesses in general are still experiencing tremendous difficulties and the pandemic year has been a fire-fighting situation for most companies.
However, I am pleased to report that due to the planning we did as a company in the summer of 2020 and the moving to running our events online, we have been able to generate a reasonable amount of income in the last quarter to 31 December 2020. This coupled with cutting costs means that we have managed to break even during the last three months to 31 December 2020. The year 2021 has also started in line with our expectations.
As a result of reducing our staffing levels, we then had excess office space. Our landlord has been able to accommodate us and we have moved into smaller offices, from this month, at a much reduced rent which has contributed to the cost savings.
Some shareholders may have been concerned that Companies House issued a dissolution notice against the company. We have been anticipating this as our financial statements are late and are still in the process of being audited by our auditors, UHY Hacker Young. We advised Companies House accordingly who have suspended the notice against the company.
Our financial statements are presently nearing the end of the audit and once this has been completed and we are in a position to publish the financial statements, we will then do so. We anticipate being able to do this in February/March 2021. At that time we will also issue the date of the shareholder General Meeting to which you, as a shareholder will be invited.
We applied to HMRC for the EIS3 tax certificates during August 2020 last year for the period to 5 April 2020 and these were granted to us in November 2020. All EIS3 tax certificates were prepared and issued to the relevant shareholders in December 2020.
Liquidity of our shares remains an issue and after our financial statements have been published we shall be looking to appoint appropriate advisers to ease this situation for shareholders. We will shortly be launching our new company website and there is a FAQ section which will answer many of your questions. I will notify you as soon as the website is launched.
I would like to thank all shareholders for their continued support and thank all our dedicated staff at this very difficult time.
I will write to you again once the financial statements are ready for publication.
In the meantime may you keep well and stay safe in this continued period of lockdown.
Wealth Dragons Group PLC
6th October 2020
Update – Wealth Dragons Group PLC
I am writing to update you as a shareholder on what has been a very challenging six months for the company as a result of the COVID-19 pandemic.
The Wealth Dragons office in Milton Keynes has been closed from March 2020 and the majority of staff have been placed on the government furlough scheme as we have not been able to run any events since March 2020. The small number of staff who have been working have done so from home which has not been without its problems.
Our income as a company has been severely affected in this period and sadly we have had to make a number of staff redundant as well as implementing other ways of cutting costs.
Our focus however has been to set the foundations to enable the company to come through this pandemic by continuing to develop our online capability, to generate income that has been lost through not being able to run our large events. The online product ‘Membby’ is now showing signs of success. We have also in September commenced running our events online which have been well received. It has taken considerable time and effort to get these online events in place and we are pleased that they have started to generate income for us.
Even though we have managed to survive in what has been the worst time in our trading history we have had to remodel our business and we envisage that it will take us most of next year to recoup what we have lost during this year, 2021 to date.
Some shareholders are concerned at the liquidity of our shares and I too share those concerns. As I have said before the market for Wealth Dragons shares is very limited and we are still growing and expanding our shareholder base. The shares are traded with buyers and sellers on a matched bargain basis. The Board consistently keeps this under review and is looking, with our advisers, at ways of increasing the trading when conditions allow. Many shareholders have acquired their shares under the EIS and therefore are restricted on trading their shares as this would affect their personal tax status.
We have recently applied to HMRC for the EIS3 tax certificates for those shares allotted in the tax year to 5 April 2020 and we hope to receive these from HMRC and send them out towards the end of this year.
I would like to pay tribute to the dedication of our staff and keeping them secure and well is one of our paramount concerns.
I trust that this provides you with some background to the present position and our commitment to making the company successful for staff and shareholders in what are most definitely difficult and challenging times.
May you all keep well and stay safe.
Wealth Dragons Group Plc
April 10, 2020
As the global COVID-19 pandemic continues to evolve, we want to update you on the current situation. First and foremost, our top priority is the health and safety of our employees and their families as well as our students and shareholders. Our thoughts go out to everyone who has been affected by the virus
whether directly or indirectly.
We are facing many challenges and like many companies we have put in place work from home procedures for some employees as well as putting on furlough a large proportion of our staff in order to secure their positions for the future.
There are many uncertainties and we expect to see continued impact from the coronavirus pandemic.
Our revenue, like most, has been affected by the postponement of our events business. However, despite the impact of COVID-19 we have been able to continue with our marketing to increase the numbers wishing to attend our events when we are permitted to resume with these events in the future.
On the other hand, people are now experiencing first hand the necessity for online businesses. Hence this is one of the reasons why we have worked relentlessly in the past four years raising funds and developing our online platforms. We feel that we are in a much better position to reap the benefits from
our hard work and sacrifices for this eventuality. We are pleased to be announcing the launch of our new platform MEMBBY in the forthcoming few weeks.
MEMBBY has been developed to allow individuals to publish their contents online and monetise. This service is in huge demand at present as many people are
now considering making an income from home in the absence of job security.
I believe our management team has the experience, confidence and strategy to drive the company forward through these challenging times. We will continue to closely monitor our business and manage it responsibly considering the continuing economic climate.
I hope you all stay safe and healthy.
Wealth Dragons Group Plc
February 17, 2020
WEALTH DRAGONS QIWUP PLC CHANGE OF YEAR END
Your Board of Directors has agreed to change the year end of Wealth Dragons Group PLC and its subsidiaries from 31 July 2019 to 31 December 2019 inline with the rules permitted under the Companies Acts and the appropriate forms have been lodged at Companies House.
After some consideration the Board felt that having a year end in the middle of the year did not reflect the group’s activities and that financial statements based on a calendar year would be more appropriate.
It is anticipated that the company will hold an annual general meeting later in the year once the accounts for 31 December 2019 have been agreed and finalised.
August 21, 2019
Announcement: Vienna Listing – Wealth Dragons Group PLC
I am pleased to advise shareholders that Wealth Dragons Group PLC Ordinary Shares are now listed on the Direct Market operated by the Wiener Borse, Vienna.
This has been a very lengthy process in getting the company listed and we are very grateful to you, our shareholders for your patience and support for the company.
I would also like to take this opportunity to thank our staff for their dedication and commitment to the company which has enabled us to achieve our goal of a listing as we look forward to the next stage of our development as a company.
Below is some information for shareholders in the form of questions and answers which may be useful:
1. Where can I see the price of Wealth Dragons Group PLC shares?
The Wealth Dragons Group PLC share price can be seen by going to www.wienerborse.at and looking under Market Data/Shares and others/Direct Market/Wealth Dragons Group PLC. Alternatively, you can look under the Companies List or New Listings.
The ISIN for the shares is: GB00BGMGZR93
2. How can I sell any of my shares?
Should shareholders wish to sell any of their shares you will need to be registered with a broker who will trade on the Vienna Exchange. There are a number of European Brokers listed on the Exchange website.
You will need to go through the usual compliance procedures when registering with a broker.
3. How can I buy more shares?
Shares can be bought in the market through any broker connected directly or indirectly with the Vienna Exchange. you can use the link below:
In the Domestic/Foreign drop down box, select Foreign Members.
4. How are the shares traded?
The shares are traded in Euros, initially on an auction matched bargain basis on the Direct Market. In due course we will move to the Direct Market Plus where the shares will be listed on a continuous price basis. When this occurs, we will write to you accordingly.
5. Do my shares qualify for EIS relief?
UK Shareholders who qualify and are eligible for EIS tax relief should note that they are required to keep their shares for the full three year period from allotment to receive the benefit of the relief. If you dispose of your shares within this period you will lose your benefit to any tax relief.
Shareholders should be mindful that share values can go down as well as up and investors may get back less than their original investment.
All company releases for shareholders will be published on the group website at www.wealthdragonsgroupplc.com
Wealth Dragons Group PLC
June 6, 2019
IPO Listing Update – Wealth Dragons Group PLC
Further to my previous update on 10 April 2019, when I indicated to you that our anticipated listing on the Vienna Stock Exchange was scheduled in for May 2019, I can inform you that as of today all finalised documents have been submitted to the Exchange and we now await confirmation from them of the listing
date and first day of trading.
We have been working closely with the Exchange over the last month and they have approved the draft documentation we submitted and came back to us with only three minor points that required addressing, which our reporting accountants and advisers have now cleared with them.
As soon as we obtain final approval from the Exchange and have a confirmed listing date, I will write to you immediately.
Wealth Dragons Group Plc
Wealth Dragons Group Plc
Linford Wood Business Centre