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Annual report 2015
Annual report 2015
OVOCA GOLD Plc Annual Report 2015
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> Welcome
CEO's statement
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Chairman's statement
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Company Information and Properties Overview
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Directors and Corporate Information
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Directors' report
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Independent auditor's report
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Statement of Accounting Policies
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Financial Statements
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Notes to the Financial Statements
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Contents
We are
Ovoca Gold is an AIM-quoted and ESM-quoted gold exploration and mine development company focused on gold and silver deposits in Russia.
Our mission
Ovoca will deliver shareholder value through targeted exploration, resource expansion and mine development by maximizing the use of our human capital while minimizing the use of our financial resources.
Our strategic vision
We are committed to making Ovoca a self-sufficient company, with its own sources of cash flow from mining projects, a project pipeline to provide for growth, and a corporate platform that has the capacity to expand in Russia and globally.
2015 Key Points Corporate
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Ongoing search for new assets and business opportunities.
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Ovoca Gold plc ("Ovoca") continues the litigation process connected to LLC Taymura debt. Taymura has been declared bankrupt; procedure of bankruptcy proceedings has been entered. Ovoca is the main creditor of LLC Taymura. Subsequent to the year end, the Company recovered
$740,261 in respect of assigned receivables in relation to this debt.
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In two transactions in October 2015, Ovoca's CEO Kirill Golovanov acquired 16,256,203 ordinary shares of the Company, or 18.4% of Ovoca's issued share capital.
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At 31 December 2015, Ovoca had net assets of US$23.1 million, which includes cash and cash equivalents of US$7.3 million
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Ovoca purchased 5,800,000 ordinary shares in the issued share capital of the Company. To date since the beginning of the Company's share buyback programme, Ovoca has acquired 8.45% of its own share capital under the approved share buyback programme. The Company now has a total of 81,563,806 Ordinary Shares in issue excluding treasury shares and 6,895,000 Ordinary Shares.
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