Feedback PLC director Dr Balaji Ganeshan discusses the latest TexRAD developments

FBKlogoFeedback PLC director Dr Balaji Ganeshan joins Justin Waite on the ADVFN podcast to discuss the latest developments with TexRAD in regard to joint ventures for prognosis and treatment for Lung Cancer, Kidney Stones and Prostate Cancer. He also explains the background of the company, how doctors use and access the software. The interview is just over 21 minutes in. Click here to listen.

CEO Interview: Partnership with Koza Gold a great opportunity for IMC Exploration (IMCP) in Ireland

The Finance Director of IMC Exploration PLC, Nial Ring, joined Alan Green, CEO of Brand Communications, on the Tip TV Finance Show to discuss the projects and developments ahead for the company.

What does the future hold for IMC Exploration?

Ring began by outlining that IMC has 5 precious metal and 10 base metal licences in Ireland, and has entered a joint venture with Koza Gold. He continued that Koza Gold has invested 1.4 million euros for 55% of the precious metal licences, and Ring already noted that they have drilled over 1000 metres, have analysed 420 drill holes and spent plenty of time and money investigating in Ireland. He highlighted that IMC Exploration is preparing to be fully-listed on the stock market in order to be able to raise capital for future deals with Koza Gold or other firms interested in working with IMC.

Will the Santa rally start here? Alan Green, Nick ‘Moose’ Batsford & Zak Mir discuss.

Will the Santa rally start here? Alan Green, Nick ‘Moose’ Batsford & Zak Mir discuss this, Greencore (GNC), Standard Chartered (STAN) and other seasonal phenomena.

Advanced Oncotherapy announces the appointment of an Executive Chairman at subsidiary ADAM

AVO1Advanced Oncotherapy announces that Professor Steve Myers OBE, Head of Medical Applications at CERN, has been appointed as Executive Chairman of Advanced Oncotherapy’s fully owned subsidiary ADAM S.A. 

ADAM was founded in 2007 as a spin-off from CERN, the European Organisation for Nuclear Research, and was acquired by Advanced Oncotherapy in 2013. The ADAM team is responsible for designing and developing the Company’s next-generation proton beam cancer therapy technology, the LIGHT system.

Professor Myers has been the Head of Medical Applications at CERN in Geneva since 2014. From 2009-2013, he was the Director of Accelerators and Technology, where he was responsible for the operation and exploitation of the whole accelerator complex, with particular emphasis on the Large Hadron Collider and for the development of the new projects and technologies.

In 2012, he was elected as a Fellow of the Royal Academy of Engineering which honours the UK’s most eminent engineers, and is a Fellow of the Institute of Physics, the European Physical Society and International Fellow of the American Physical Society. He is internationally recognised for his engineering contributions and leadership in the development of CERN’s particle colliders over the past 40 years, including the Intersecting Storage Ring Accelerator, the Large Electron-Positron collider and the LHC.

Professor Myers has been awarded a number of international prizes including the Duddel Prize & Medal from the Institute of Physics (now re-named the Gabor Medal & Prize) and was awarded an OBE in 2013 for services to science and technology. Professor Myers holds a number of honorary and advisory positions and is Chair of the Advisory Committees of both the John Adams Accelerator Institute in Oxford and the Cockroft Accelerator Institute and has published over 300 scientific papers.

Sanjeev Pandya, CEO of Advanced Oncotherapy commented: “Professor Myers’ wealth of knowledge and experience is second to none. He has been part of the CERN Scientific Review Board since its inception in January 2015 and has provided the Company with invaluable advice and high level guidance during this time. We are extremely lucky to have someone of his calibre on board and we are looking forward to working more closely with Steve in the future.”

Advanced Oncotherapy Plc

Sanjeev Pandya, CEO

Tel: +44 20 3617 8728

Nicolas Serandour, CFO

Westhouse Securities (Nomad & Joint Broker)

Antonio Bossi / David Coaten

Tel: +44 20 7601 6100

Beaufort Securities (Joint Broker)

Jon Levinson / Elliot Hance

Tel: +44 20 7382 8300

Walbrook PR (Financial PR & IR)

Tel: +44 20 7933 8780 or

Paul McManus / Anna Dunphy

Mob: +44 7980 541 893 / Mob: +44 7876 741 001

About Advanced Oncotherapy Plc

Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology. As a result, Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology as well as better health outcomes and lower treatment related side effects.

Advanced Oncotherapy’s team “ADAM” based in Geneva focuses on the development of a proprietary proton accelerator called Linac Image Guided Hadron Technology (LIGHT). LIGHT accelerates protons to the energy levels achieved in legacy machines but in a unit that is a fraction of the size and significantly lower in cost. This compact configuration delivers proton beams in a way that facilitates a greater precision and electronic control which is not achievable with older technologies.

The Company has signed two purchase agreements with Sinophi Healthcare Limited for the LIGHT proton therapy systems to be installed in hospitals in China. There are also four additional framework agreements and further Letters of Intent from other healthcare providers.

The Company has also signed a joint venture agreement with CircleHealth, owned by AIM-listed Circle Holdings plc to operate the Company’s proton beam cancer therapy centre in Harley Street.

Advanced Oncotherapy continually monitors the market for any emerging improvements in delivering proton therapy and actively seeks working relationships with providers of these innovative technologies. Through these relationships, the Company will remain the prime provider of an innovative and cost-effective system for particle therapy with protons.

Quoted Micro 23 November 2015


Blockchain technology investor Coinsilium (COIN) has raised £1.15m of the £1.5m it is seeking via crowdfunding site Coinsilium has also raised additional cash via a placing ahead of a potential flotation on ISDX. There are still 39 days to go for the crowdfunding. Coinsilium already has a portfolio of eleven investments. Blockchain technology groups digital transactions into blocks that can be accessed easily and provides a permanent record of transfers of assets. This means that transactions can be verified and reconciled without the need for a centralised third party.

Property investor Ace Liberty & Stone (ALSP) has completed the sale of the remaining units of Telephone House in Sheffield. The property is owned by a 38%-owned associate but it was consolidated in the Ace figures. The latest disposal proceeds were £4m taking the amount raised from the site to £8.1m. Ace will receive £2.2m, which includes a profit of £456,000.  This can be reinvested in other properties. The strategy is to acquire properties with short-term tenancies with government or other blue chip tenants. These are properties that can be converted into residential or student accommodation, or other new uses. Once planning is approved then Ace will probably sell them on to developers, although it could choose to develop some sites itself. Dr Abdel-Karim El-Rousstom has bought 2 million shares and Hikmat El-Rousstom 2.91 million shares at 2.75p each. That raised £135,000 for Ace and takes their stakes to 18.7% and 2% respectively.

Online secondary school operator and consultancy Wey Education (WEYP) wants to raise £1.75m as part of a move to AIM on 7 December.  The cash will be used to grow the business. At 4.5p (4p/5p) a share, Wey is currently valued at £2m.

GP software provider DXS International (DXSP) says that its revenues have increased by 42% in the five months to September 2015. Annualised revenues are £3.2m. The interims will be published in the middle of December. At 13p (12.5p/13.5p) a share, DXS is valued at £4.3m.

Green Chemicals (GNCP), which is developing cleaner and safer consumer and cleaning products, has decided to withdraw from the ISDX Growth market. The share price slumped from 22.5p to 4.5p on the news. There was one trade during the week at 2p a share. The board is asking shareholders to vote for the withdrawal in order to save £35,000 a year and in the hope that an investor in unquoted companies can be attracted. News will be published on the website ( and broker Keith Bayley Rogers will provide a matched bargains service for the shares. Earlier this month, IP Group provided a loan facility of up to £1.5m to Green Chemicals. This can be converted into shares. IP Group along with two other associates has a total interest of 29.5%.

Diversified Gas & Oil (DOIL) has raised a further £1m (£990,000 after expenses) through the issue of 8.5% unsecured bonds 2020. This means that there will be £3.2m of unsecured bonds in issue. There should be more than £3m in total to invest in developing the company’s oil and gas assets in Ohio and West Virginia.


Structural steels supplier Billington Holdings (BILN) is adding additional capacity through the £4.85m acquisition of property and assets five miles away from the company’s Barnsley facility, which is operating at record levels. The purchase will be funded by a £2.5m mortgage and from the company’s cash pile. Capacity will be increased over a two year period as the acquired facilities are adapted to optimise production. The site has long-term tenants which generate annual rents of £400,000. Assuming the deal goes through it should add £200,000 to profit in 2016 before the benefits of the additional capacity show through.

Inland Homes (INL) has sold a major part of the former RAF Stanbridge site to Catalyst Housing Association for £14m. Inland has retained a 0.5 acre retail site pre-let to a major food retailer and another small parcel of land. The disposal will help to underpin the 2015-16 profit expectations of £16m. Inland has invested £1m in a 25% stake in housebuilder Troy Homes. Inland will also be providing a further £2m to Troy in loan notes. Troy is run by former Banner Homes boss Richard Werth. Inland has also secured a £20m revolving credit facility with Barclays, which matures in October 2019. There is scope for a further £10m to be added to the facility.

Property lettings and sales business franchisor Belvoir Lettings (BLV) says that its franchisees have made acquisitions in Southampton and Brighton, which will add network revenues of £250,000. This means that they should add £30,000 to Belvoir’s franchise revenues, plus additional interest income of £10,000 a year from the loans. Belvoir has loaned £118,500 to help finance these acquisitions. In Southampton, lettings and estate agency Langford Charles has been bought, while in Brighton a property portfolio was acquired.

Fifty Four Four Ltd, which is owned by YCO director Charles Birkett, has increased its stake in former AIM company YCO to 71% following its 1p a share bid, which valued the superyacht services provider at £485,000. Fifty Four Four already owned 50.4% prior to the bid but it does not have a high enough stake to compulsorily purchase the rest of the shares. YCO was trading at 7.25p a share prior to the announcement of its intention to leave AIM in May 2012 – it left in July 2012 and re-registered as a private company in 2014. Net cash was £2.46m at the end of 2011 following the disposal of a fuel business.


Specialist Fund Market-listed Marwyn Value Investors Ltd (MVI) has raised £50m at 220p a share with the founders Mark Watts and James Corsellis investing an additional £2m in total. The cash raised will go into the Master Fund, whose portfolio includes BCA Marketplace, Zegona Communications, Gloo Networks and Le Chameau Holdings SAS. There will be a special dividend of 2p a share paid in January and from then on the dividend will be quarterly. Last year’s dividend was 8.255p a share and this will be the minimum total payment in 2016 – not including the January dividend. The disposal of the Entertainment One stake will provide cash to distribute to shareholders. There could also be special dividends following any disposals from the portfolio. In October, Marwyn paid 24.6p a share to investors. Marwyn is trading at a 16% discount to estimated NAV of 256.3p a share.

Dr Qu Li has been appointed as a non-executive director of cash shell Flying Brands Ltd (FBDU) and she will be seeking an acquisition in the area of logistics and/or technology. LCP Consulting ( has been taken on to identify an acquisition. LCP has been researching city logistics, including the use of electric vehicles in order to improve air quality. Annual costs are around £70,000 and there was £247,000 in the bank at the end of October.  Since then, a further £100,000 has been raised via the issue of convertible loan notes, taking the total issued to £369,800. The new loan notes are convertible at 1.5p a share.

Aminex (AEX) has signed a disposal and farm out agreement for its Tanzania oil and gas assets with AIM-quoted Bowleven. The deal will raise cash of $8.5m and Aminex will receive $5m of shares in Bowleven, which it will have to retain for at least nine months. Bowleven is buying a 25% stake in the Kiliwani North development licence and earning a 50% gross interest in the Ruvuma PSA. Aminex will have a net carry of $10m on Ruvuma activity. Aminex is also entitled to a bonus of $500,000 in cash when drilling is completed on the Ntorya-2 well and $4m in cash or shares when Ruvuma has been in production for at least 30 days. Current partner Solo Oil is entitled to 25% of the net carry and 25% of the bonus for Ruvuma. Aminex will be able to reduce its debt but it remains as operator of the assets with 30.575% in Kilwani North – Solo can purchase a further 6.5% stake from Aminex – and 37.5% of Ruvuma. The deal has to be approved by Aminex shareholders and by Solo.


Latest edition of AIM Journal available here.

TrakM8 (TRAK) – 3 Years of Outstanding Growth

This is TrakM8’s third year of outstanding growth.  Three years which have seen the share price rise from 20p at the end of 2013 to Fridays closing price of 266p.

Todays interim results for the 6 months to the end of September show another strong period of growth and are again, ahead of expectations.  Adjusted profit before tax has risen by 89% on revenue up by 38% and EBITDA  is up by 70%.

TRAK is a leader in the provision of Fleet Management and Vehicle Tracking Systems and claims to be at the cutting edge of the Telematics Industry.

Results for the year to 31st March 2015 were excellent with revenue rising by 95% and profit before tax more than quadrupling to £1.7m.

At the end of 2014 the share price stood at 89p, having more than quadrupled in the year. This year it has tripled.

The company will need to be on its toes to maintain this sort of growth.  The market response this week will give a good indication as to its view. A good sign is that the order pipeline is still strong.

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Feedback PLC – TexRAD signs MoU with Alliance Medical Group

FBKlogoFeedback plc (FDBK) is pleased to announce that it has signed a Memorandum of Understanding with Alliance Medical Group with the intention of integrating Feedback’s TexRAD texture analysis software into Alliance’s lung cancer imaging service.  Although the technical discussions are at a very early stage, this is considered by Feedback to be potentially of great significance as regards the future commercialization of TexRAD software. Alliance and Feedback plan to undertake a multi-centre imaging research study to assess the use of TexRAD in lung cancer, with the eventual aim of gaining National Institute for Health and Care Excellence (“NICE”) approval for TexRAD to be used in the Lung Cancer pathway. An update on the progress of the technical discussions will be provided with Feedback’s interim results announcement in February 2016.

In January 2015, NHS England selected a collaborative network led by Alliance to provide PET-CT scanning services across 30 locations in England following a competitive tender process. By December 2015 Alliance and its partners in the network will be providing a substantial amount of PET-CT imaging service in England. Published research studies have suggested that assessing patients already diagnosed with lung cancer by using TexRAD texture analysis software applied on the staging PET-CT imaging examination could potentially be a major application for TexRAD and provide valuable information to clinicians. In April 2015, Feedback announced a clinical adoption study was being commenced to assess the potential for TexRAD’s use in a multi-disciplinary team setting specifically focused on non-small cell lung cancer. This was followed in October 2015 by the announcement that the research arm of NHS England had ‘alerted’ on the potential application of TexRAD in assessing patients with lung cancer. 

Dr. Balaji Ganeshan, CEO of TexRAD Ltd and Director of New Business at Feedback Plc commented: “We are delighted to be working with Alliance who are Europe’s leading independent provider of imaging services. The planned research study in lung cancer will be an important step towards the future commercialization of TexRAD.”

Charles Niehaus, Group CMO, COO, Alliance Medical Group commented: “Alliance and clinicians of the Collaborative Network are excited to be working with Feedback Plc to integrate the TexRAD software within Alliance’s lung cancer service across the imaging network. We anticipate this will enhance lung cancer diagnosis and prognosis within the NHS leading to improved patient management and valuable information for both Alliance and Feedback.”

For further information contact:

Feedback plc
Trevor Brown / Tom Charlton / Balaji Ganeshan

Tel: 01954 718072

Sanlam Securities UK (Nominated Adviser and Joint Broker)
Simon Clements / Virginia Bull

Tel: 020 7628 2200

Peterhouse Corporate Finance Ltd (Joint Broker)
Lucy Williams / Duncan Vasey

Tel: 020 7469 0936

Notes to editors:

TexRAD is a novel sophisticated imaging risk stratification research tool that analyses the textures in existing radiological scans. This research software application analyses textures, detecting and measuring tumour heterogeneity (complexity) from these images, revealing more information from medical images than is readily visible to the naked eye. Research to date has shown that TexRAD could potentially assist the clinician (as an ‘Imaging Biomarker’) in confident decision-making: it has the potential to assess the prognosis, disease-severity (e.g. risk of metastases) and response evaluation of patients with cancer. Currently TexRAD research has shown great potential in many different oncological sites, including, colorectal, breast, lung, prostate, oesophageal, head & neck, lymphoma, liver and renal cancers and could potentially be employed as a heterogeneity assessing tool in the era of ‘Precision and Personalized Medicine’. TexRAD is manufactured under licence by company Cambridge Computed Imaging Ltd, a subsidiary of Feedback plc. More information is available on and

Reports From A Greek Island

From Ann Panagiotonacou, on Lesvos;

Since Jan 2015 alone, over 500,000 refugees have arrived on Greek islands from Turkey – 100’s have been drowned.  Children, even babies arriving without parents;  parents arriving without their children; mothers arriving with some or all of their children without fathers and fathers arriving with all or some of their children without mothers.  Mothers arriving with 2-3 day old babies and even pregnant mothers arriving only to give birth right on the beach or, if lucky enough, in a more comfortable place.

Many travelling without life jackets, others with false life jackets stuffed with grass.  30-50 people being forced to travel in old inflated dinghies built for 5-10 people, most of them already with slow leaking holes and arriving near Greek islands in devastating conditions, and pleading to the Local people & the 100’s of Volunteers to save them.  Others put on non seaworthy wooden boats with huge problems – 2 weeks ago, on one of these boats, the top floor collapsed due to weight, causing the boat to capsize & sink, drowning 40+ people, among them many children. One boat has gone missing with 300 people on board and another  with over 200 on board & there is so much more.  These people are paying $1500-2500 a head to the smugglers in order to make the trip.

The courage, love & hard work of the Individual Volunteers & new Organisations  can only be admired & respected – often working an 18hr day, including through the night. It is the Volunteers  who are making a difference for the  refugees.

European TV & Papers make good stories about the bad conditions Greece is offering to the refugees but Greece is a collapsed economy which can not even feed its own people at present, The sick have to take their own bedding to hospital because hospitals have no money even for basic necessities  Volunteers are doing sterling work but more are needed.  Thousands of people from all over the word have come to help Greece provide for the refugees. The refugees need medical help, clothing which has been donated from all over the world needs sorting. Lessons and play groups for the children.  The list is endless. Even two or three days as a volunteer on one of the refugee islands can help to make a vast difference to people who fled their war stricken countries for a better life in Europe.

Now in my 5th day on Lesvos. I have travelled to a lot of the camps all over the island. The work being done by the Volunteers is amazing. It has to be seen to be believed. I’m stationed in Mytilene town. By the time the refugees arrive in the nearby camps, they already have been given dry clothes & food & buses to transport them from their arrival place up north, Molivos, & although exhausted, frightened & confused many of them gave a smile on their faces. All thanks to the volunteers.  Fortunately the weather has been beautiful for the past 3 weeks but  today there are strong winds at sea.. The refugees  crossng tonight will be safe.

To become a Volunteer give your time and contact The Starfish Foundation on Lesvos

Alan Green discusses Plant Impact (PIM) on the ADVFN podcast

Alan Green discusses Plant Impact (PIM) with Justin Waite on the ADVFN podcast. The interview starts 20 minutes in. Click here to listen.

House Builders – Bleeding The Market Dry

The greed of the housebuilders knew no limits and it looks as if they may have killed the goose that laid the golden eggs. The UK housing market has been bled dry by large annual price increases, way way above the rate of inflation. The housebuilders  shrank their own market as more and more people became unable to buy even a starter home.

The builders saw an everlasting boom and ever rising dividends fuelled by ever rising prices. They suffered from short term memory loss as they forgot that booms always end and always  in tears.

Barrat Developments BDEV is a prime example. In 2011 when the average private selling price was £178,300 it could not afford to pay a dividend but promised one for 2012. In 2012 Barratts profit before tax rose by 159%, the start of the boom but it still could not afford to pay a dividend. The average price rose slightly to £180,000.

In 2013 the dividend was restored with a payment of 2.5p per share after a rise of 73.7% in profit before tax, helped by another inflation beating price increase.

2014 may in retrospect have been the golden year.  The average selling price soared to £241,600, profit before tax was up by 103% and the dividend was increased by a massive 312%.

2015 was still a good year but there were obvious signs of black clouds on the horizon. Profit before tax rose again but by a much more modest 44.8% and the rise in annual revenue was down to only 19.1%.  But the shocker as far as the market was concerned was that the increase in average selling price fell to a comparatively meagre 8.7%. That hit the share price hard but the annual dividends for the year were still upped by 143.7% to 10p.

The history of Barratts share price illustrates the boom and bust nature of the company.  In 2010 it was 50p before rising sharply to 275p and then collapsing again in 2011 & 2012 to 75p. as the dividends disappeared. Then came the boom which saw a rise to 660p as recently as last month, followed by a sharp and sudden retreat to 579p.

Perhaps the rot set in in July when the Investors Chronicle gave the kiss of death to house builders by claiming that they were due for further growth.

It is not just Barratts world which has been turned upside down.  A few days ago Bovis lost 11% in one day and Persimmon topped the FTSE100 fallers list with a fall of 25p.

It is early days yet  but it looks like those golden eggs may soon be in short supply.  It will be interesting to see the reasons offered – “challenging conditions” etc etc plus the usual tired list of well used excuses could soon be be back in fashion.

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