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IMC Exploration Group Plc (IMC) Admission of 17,731,706 Shares

Further to the Company’s announcement on 20th August 2019 of the Placing of 15,000,000 Shares (together with a like number of unquoted Warrants) and its intention to apply for Admission of the Placing Shares and the Fee Shares aggregating 17,731,706 Shares, the Company is pleased to announce that it has received confirmation that these Shares have been admitted and that trading in them will commence on the regulated market of the London Stock Exchange today (Tuesday, 27th August 2019).

As earlier advised, the Placing Shares and the Fee Shares rank pari passu with the existing Shares. The total number of Shares in issue is now 282,745,991 (previously 265,014,285).

Expressions in the foregoing announcement, including “Fee Shares”, “Shares”, “Placing”, “Placing Shares”, “Admission,” et cetera which are denoted by capital letters have the same meanings as those ascribed to them in the announcement dated 20th August 2019, to which reference is made above.

Eamon P. O’Brien,
Executive Chairman,
Dublin, 27th August 2019

The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.

Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc

Graham Atthill-Beck: +44 20 7464 4091 / +971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited

Andrew Hore – Quoted Micro 26 August 2019

NEX EXCHANGE

Walls and Futures REIT (WAFR) grew revenues by one-third to £136,000 but the ethical housing provider moved from profit to loss. In the year to March 2019, revenues improved from £103,000 to £136,000. The main reason behind the reported loss was a reduction in the gain on revaluation of assets from £198,000 to £145,000. The NAV still increased from £3.25m to £3.31m. These figures were prior to the acquisition of a property in Didcot. There is a pipeline of other potential transactions.

Barkby Group (BARK) has appointed finnCap as its corporate adviser.

Peterhouse has resigned as corporate adviser to Gamfook Jewellery (GAMF) and that follows the resignation of its auditor Crowe and the continued delays to the publication of the accounts for 2018. Peterhouse took over as corporate adviser from Daniel Stewart in March. Gamfook floated in December 2018.

Rutherford Health (RUTH) has opened its latest centre in Reading. The company was previously known as Proton Partners International Ltd.

Henry Lees-Buckley is taking on the chief executive role at Sativa Group (SATI) and Geremy Thomas has moved to deputy chairman.

AIM  

Injection moulded plastic products Coral Products (CRU) returned to profit in the year to April 2019, although the underlying pre-tax profit only edged up from £568,000 to £580,000 because of a decline in exceptional costs. The second half was not as good as the first half, but cost cutting enabled a recovery at the end of the year. Net debt was £8.2m at the end of April 2019. There is no final dividend following the interim of 0.25p a share. Continuing problems at a major customer could continue to hamper progress. Equipment enabling recycling of plastic products is up and running. New products will be launched later this year, including roof tiles and road highway sound barriers.

International staffing provider Empresaria (EMR) had a tough first half, but despite this the company still expects to maintain its full year profit at £11.4m. Interim net fee income was 7% ahead but underlying pre-tax profit was one-fifth lower at £3.7m. That suggests a much stronger second half even though the German and Japanese businesses remain subdued, although they could start to recover. The diversification of the business in terms of sectors and geographies helps to offset the weakness in parts of the group. New chief executive Rhona Driggs is putting in place a new strategy, which should help next year’s figures.

Adamas Finance Asia Ltd (ADAM) has maintained its NAV at $1.10 a share (88p a share). Investee company Hong Kong Mining Holdings is still on course to restart mining operations and it is acquiring additional land for mining activities. Fook Lam Moon is assessing opportunities to expand its catering operations. The internal fit out for Infinity Capital’s Tellus Niseko project should be completed before the end of September.

MySale Group (MYSL) has raised £11.2m at 2p a share, which is a 58% discount to the market price. There will be £5.5m used to pay down bank facilities. The number of shares in issue is trebled. This follows a strategic review by the retailer, which is refocusing on Australasian operations and the selling down of stock. The cost base will be reduced.

Transport optimisation software and equipment supplier Tracsis (TRCS) grew its cash pile to £24m at the end of July 2019, even after paying around £9m on acquisitions. Pre-tax profit is in line with expectations at £9.4m, up from £8.5m.

Breedon Group (BREE) intends to change its tax domicile from Jersey to the UK. The company will still be incorporated in Jersey. The general meeting to gain approval to change the article of association will be held on 9 September.

Packaging supplier Robinson (RBN) improved gross margins by 12 percentage points to 19.7% in the first half, but that was partly offset by higher overheads. Pre-tax profit improved from £478,000 to £684,000. Net debt was £9.1m. The interim dividend is unchanged at 2.5p a share.

IT services provider Adept4 (AD4) is in talks to acquire CloudCoCo, which was set up by former sales directors of Redcentric. The deal would involve the issue of new shares that would nearly double the number in issue. The Business Growth Fund has agreed to sell £5m of unsecured loan notes to MXC Capital for £3.5m.

Data software and services provider D4T4 (D4T4) says that the figures will be second half weighted this year but not as much as last year.

Science Group (SAG) has increased its stake in Frontier Smart Technologies (FST) by subscribing £1m at 25p a share. This takes the stake to 52.3% (costing £6.9m) and this means that Frontier’s results will be consolidated. A standby facility is also being provided. Frontier’s cost base is being reduced.

Commodity trading and risk management software provider Brady (BRY) expects 2019 revenues to be around one-fifth lower than previous forecasts. That means that revenues are expected to decline from £23.2m in 2018 to £19m and this will lead to a loss of more than £4m.

Three directors have been removed from the board of Management Resource Solutions (MRS) and they have been replaced by John Copley and Robert Wall following a requisitioned general meeting.

Cancer therapies developer Scancell (SCLP) has initiated the UK SCIB1 phase 2 clinical trial for advanced melanoma, where SCIB1 is used in conjunction with the checkpoint inhibitor Pembrolizumab.  

The financial director of Maestrano (MNO) has resigned to take up a role in Australia. The software company continues to undertake due diligence on a potential acquisition. An Australian bank client has decided not to go ahead with a new banking platform. There should be enough cash to last into next year.

Cyber security company Osirium Technologies (OSI) has signed up the first customer for its Opus privileged process automation software, plus two customers for the PxM platform. The Opus client is an asset manager that is already a user of PxM.

Cellcast (CLTV) has called a general meeting on 6 September in order to approve the sale of its operations. The company will change its name to Vintana.

MAIN MARKET 

BATM (BVC) reported an improved interim profit, but that was due to a one-off unrealised gain after an investment in the Ador diagnostics joint venture. Revenues dipped from $58.2m to $56.2m. The second half performance will be more important. Revenues are expected to grow from $119.6m to $128.5m, with pre-tax profit jumping form $2m to $6.7m. There is further longer-term growth to come from both the biomedical and networking divisions. The recent fundraising means that there is plenty of cash to finance growth.

Argo Blockchain (ARB) is further increasing its capacity and this could make it the largest quoted cryptocurrency miner by next year.

Injection moulding and engineering company Tex Holdings (TXH) says net assets per share have fallen from 168p to 140p after it swung into loss last year. There is no final dividend. The plastics division is trading profitably and orders have improved at the engineering division.

Path Investments (PATH) plans to acquire FineGems Extraction Corporation, which has a 75% stake in a company that holds the Jagoda licence in Zambia. The assets are near to production. They are manganese ore and tourmaline deposits. The acquisition would leave existing shareholders with 50% of the enlarged share capital.

Gold explorer IMC Exploration (IMC) has raised £150,000 at 1p a share and has paid £27,000 of professional fees in shares. The cash will be spent on exploration and geological work on a tailings project in Avoca, County Wicklow.

Dev Clever (DEV) has appointed Novum Securities as joint broker and raised £436,000 at 3.4p a share. The consumer engagement systems company has secured a three-year agreement with Toshiba Global Commerce Solutions, which will offer Dev Clever’s Engage gamification platform and its learning and development platform to retail customers.

 Andrew Hore 

IMC Exploration #IMC – Placing; Issue of Shares in Lieu of Fees

The Board of IMC is pleased to announce that it has raised £150,000 (one hundred and fifty thousand pounds Sterling) before expenses by way of a placing (the “Placing”) of 15,000,000 (fifteen million) new ordinary shares of €0.001 each (“Shares”) in the Company at a price of 1 penny per share for cash (the “Placing Shares”), conditional only upon admission of the Placing Shares to the Official List of the FCA and to trading on the regulated market of the London Stock Exchange (“Admission”) of the Placing Shares. Additionally, the Company has resolved to allot to third parties 2,731,706 Shares at the same price (the “Fee Shares”), in satisfaction of professional fees owed by the Company. Alongside each Placing Share will be issued a warrant to subscribe for one further Share at a price of 1p per Share, exercisable for one year from the date of issue (“Warrant”). There is no intention to make application for admission to trading on any public market of the 15,000,000 Warrants being issued with the Placing Shares.

The Placing Shares and the Fee Shares will rank in all respects pari passu with the existing Shares, of which 265,014,285 are in issue. Application is being made for Admission of all 17,731,706 Shares comprising the Placing Shares and the Fee Shares, which is expected to occur on or about 23rd August 2019. The total number of Shares in issue following the Placing and issuance of the Fee Shares will be 282,745,991 (previously 265,014,285).

The net proceeds of the Placing will be applied to general working capital purposes, including acceleration of IMC’s exploration and geological work on its spoils and tailings project in Avoca, Co. Wicklow, Ireland. The Directors note the gold price has recently surpassed $1,500 per troy ounce for the first time in over six years.  This is good news for IMC and, in particular, bodes well for its gold, spoils and tailings project in Avoca, Co. Wicklow.

Eamon P. O’Brien,
Executive Chairman,
Dublin, 20th August 2019

The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc

Graham Atthill-Beck: +44 20 7464 4091/+971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited

Andrew Hore Quoted Micro 19 August 2019

NEX EXCHANGE

Brewer Adnams (ADB) reported a decline in first half revenues from £35.5m to £34.7m, while the loss increased from £840,000 to £1.15m. Beer volumes were 2% ahead, compared with a 1% decline in the market. Low alcohol beer sales grew. Gin sales fell because of greater competition. A fire at the Ship at Levington hampered the performance of the pubs business. Adnams made an underlying profit in 2018, thanks to a better second half performance. The new IT system went live in March and the implementation has been a distraction to management. The dividends are unchanged at 78p a share for each B share and 19.5p per A share.  

Bruce Pubs (PUB) has decided to cancel trading in its 7.2% secured bonds, 31 March 2022. There are £20,000 worth of bonds admitted to the market and there have been no trades. Bruce Pubs had wanted to raise up to £20m from the bond issue. It is therefore not a surprise that Bruce Pubs believes it is not worth having a trading facility. The bonds can be redeemed early by the company.

NQ Minerals (NQMI) has produced 10,164 tonnes of lead concentrate, 7,431 tonnes of zinc concentrate and 46,863 tonnes of pyrite concentrate in the first half of 2019. An operating profit of A$3.6m was made on sales of A$23m.

TechFinancials (TECH) had $1.23m in the bank at the end of June 2019. A reduction in trade receivables meant that there was a small cash inflow from operating activities, but there was $402,000 capitalised developed on the blockchain ticketing system.

China-focused healthcare company MiLOC Group Ltd (ML.P) has raised £755,000 at 30p a share.

Queros Capital Partners (QCP) has gained a quotation for its bonds on the Frankfurt Stock Exchange

AIM  

ICAMAP has acquired 7.94 million shares in easyHotel (EZH) at its offer price of 95p a share, taking its stake to 44.1%. This means that it is a mandatory cash offer.

Iofina (IOF) has launched IofinaEX Global to deal in hemp derived products in Central America and the Caribbean. Iofina will potentially link up with a government in the region that wants to develop its country as a hub for hemp derived products. There are no details of this potential partnership. The company believes that its regulatory expertise in the iodine market will be helpful in the CBD market. The US is likely to be a major market.

LightwaveRF (LWRF) has raised £1.3m at 7p a share. The smart homes equipment supplier wants the cash to finance further growth. There are also plans to secure a facility for stock.

Altitude (ALT) is considering the disposal of its Manchester-based promotion products supplier AdProducts.com. This would enable Altitude to concentrate on its AIM platform for promotional products suppliers.

Greatland Gold (GGP) has raised £4.2m at 1.85p a share and that will be used to finance exploration in the Paterson region of Australia. There has been positive exploration news from the Scallywag prospect in the Paterson region. A ground gravity survey starts this month and an induced polarisation survey next month. Then 3D modelling using the data will come up with drill targets.

Cyber security software and services provider Corero Network Security (CNS) says interim revenues are lower, but operating costs are unchanged. That means that the interim loss has increased. However, full year revenues are expected to be one-fifth higher, but higher investment in sales means that the loss will still be higher. Net cash was $3.6m at the end of June 2019.

Equals Group (EQLS) is raising up to £16m via a placing and open offer. The international payments company has raised £14m at 110p a share and up to £2m will come from the one-for-90 open offer. The cash will be used for acquisitions and working capital.

Tanfield (TAN) says that 49%-owned Snorkel International has moved back into profit in the second quarter of 2019, although the first half was still loss-making. Last year, the value of this investment in the access equipment supplier was cut from £36.3m to £19.1m.

Oil and gas producer President Energy (PPC) says that there should not be a material effect on its operations from a change in Argentinian president. Revenues are US dollar based and cash is held in the same currency, so the decline of the Argentinian peso should not be too much of a problem.

Anthony Laiker has subscribed £25,000 in Vela Technologies (VELA) at 0.1p a share. A general meeting has to approve the share issue to the executive director, as well as an issue of 6.25 million warrants exercisable at 0.15p. Approval of the conversion of £200,000 of loan notes plus interest into nearly 241 million shares will also require the company to be given the ability to issue more shares. Laiker would than own more than 301 million shares.

Gfinity (GFIN) is pulling out of its Australian joint venture because the esports company wants to focus its cash on the US and other important markets.  

Workspace software provider Essensys (ESYS) says that its revenues were one-quarter higher at £20.5m in the year to July 2019. That was better than expected. Annual recurring revenues run rate is £17.3m.

MAIN MARKET  

Associated British Engineering (ASBE) made an increased loss of £1.81m, up from £582,000 the previous year. The company’s main pension fund remains a worry and there are ongoing discussions with the Pensions Regulator. There are net liabilities of £3.71m after the pension deficit of £4.98m.

Nanoco (NANO) generated revenues of £7.3m in the year to July 2019, more than double the previous year. The cadmium-free quantum dots developer had £7m in cash at the end of July and expects to have £6m at the end of 2019.

Highway Capital (HWC) has issued €30,000 of new convertible loan notes. These are convertible to a value in excess of 50% of the net asset value of the company at the time of conversion. The terms of an existing convertible loan note of £100,000 have been changed and the conversion price is 5p a share.

Shareholders in Avocet Mining (AVM) have voted against the resolution to wind up the company. This means that it is likely to go into administration unless there is a viable transaction that the board can assess.

Global Resources Investment Trust (GRIT) wanted shareholders to approve the voluntary liquidation of the company, but there is not enough support for the proposal. GRIT has sold 430 million shares in Kalia for £225,000 in order to provide working capital. A new board is being appointed to undertake a strategic review. James Normand will become chairman and Martin Lampshire as an executive director. Stephen Roberts will become a non-executive director.  

IMC Exploration (IMC) has been awarded two additional licences in County Wexford. They adjoin an existing licence where there are indications of gold.

Book publisher Quarto (QRT) reduced its interim loss from $6.6m to $4m on flat revenues of $56.4m. There was a change in the mix of revenues with children’s books increasing revenues by14% and in geographic terms more of the revenues were in the US, which moved into profit. Net debt has fallen by 11% to $65m.

Zenith Energy (ZEN) says that drilling has commenced at well C-37 in the Jafarli oilfield.

Pendragon (PDG) is selling its Chevrolet dealership in California for £17.2m. GM can alternatively nominate another purchaser if it wants. The rest of the US business will be sold.

Andrew Hore 

Alan Green discusses Bidstack #BIDS, Team 17 #TM17, Feedback #FDBK and IMC Exploration #IMC on the Vox Markets podcast

Alan Green discusses Bidstack #BIDS, Team17 #TM17, Feedback #FDBK and IMC Exploration #IMC. The interview is 10 minutes 56 seconds in.

IMC Exploration Group #IMC – Award of Additional Wexford Exploration Licences

The Directors of IMC Exploration Group Plc are delighted to announce IMC has been awarded two additional prospecting licences, PL Area 1200 and PL Area 1199 (both in Co. Wexford) by the Exploration and Mining Division of the Department of Communications, Climate Action and Environment. IMC was encouraged to apply for these licences as they adjoin its existing PL 2551 licence, where IMC had previously encountered high gold grades yielding 354g/t gold (=11.38 oz/t gold) from Drillhole 12-2551-04.  IMC now holds three adjacent exploration licence areas in Co. Wexford. The Directors believe that the two new licences should significantly enhance the Company’s North Wexford gold project.

Eamon P. O’Brien, Chairman, commented, “In keeping with IMC’s strategy to establish a significant gold resource, these new additional licences, along with the high gold grades encountered on parts of the adjoining PL 2551, give IMC the capacity immediately to accelerate its exploration programme in this area.”

Eamon P. O’Brien,
Executive Chairman,
Dublin, 12th August 2019

The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.

Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc

Graham Atthill-Beck: +44 20 7464 4091/+971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited

IMC Exploration Group #IMC – Further re Placing of Shares

The Board of IMC on 26th July 2019 announced inter alia that it had raised £100,000 (one hundred thousand pounds Sterling) before expenses by way of a Placing of 10,000,000 (ten million) new Shares in the Company at a price of 1 penny per Placing Share, conditional only upon Admission of the Placing Shares, which occurred on 1st August 2019. The terms “Placing”, “Shares”, “Placing Shares” and “Admission” have the meanings ascribed to them in the Company’s announcement of 26th July 2019.

A participant in the Placing was SVS. It was announced on 5th August 2019 that SVS had entered Special Administration under the Banking Act 2009 (as amended) and that the courts had appointed special administrators to resolve the affairs of SVS following its cessation of trading on 2nd August 2019. Details are available via this link: https://www.fca.org.uk/news/news-stories/svs-securities-plc-enters-administration

SVS had irrevocably committed to subscribe for 6,500,000 (six-and-a-half million) Placing Shares in the Placing for a total consideration of £65,000 (sixty-five thousand pounds Sterling), which transaction had been due to settle on 1st August 2019. The Company is seeking confirmation from the special administrators of SVS of the status of the overdue settlement. Further announcement(s) will be made when IMC obtains substantive information from the special administrators of SVS.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 7th August 2019 

The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.

Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc

Graham Atthill-Beck: +44 20 7464 4091/+971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited

IMC Exploration Group Plc (IMC) Listing of New Equity Securities

Further to the Company’s announcement on 26th July 2019 of the conditional Placing of 10,000,000 new Shares (together with a like number of Warrants) and its intention to apply for Admission of the Placing Shares, the Company is pleased to announce that it has received confirmation that the Placing Shares were admitted and that trading in them commenced on the regulated market of the London Stock Exchange on 1st August 2019.

As earlier advised, the Placing Shares rank pari passu with the existing Shares. The total number of Shares in issue is now 265,014,285 (previously 255,014,285).

Expressions in the foregoing announcement, including “Shares”, “Placing”, “Placing Shares”, “Admission,” et cetera which are denoted by capital letters have the same meanings as those ascribed to them in the announcement dated 26th July 2019, to which reference is made above.

Eamon P. O’Brien,
Executive Chairman,
Dublin, 1st August 2019

The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.

REGULATORY ANNOUNCEMENT ENDS.

Details:

Kathryn Byrne: +353 85 233 6033

IMC Exploration Group plc

Graham Atthill-Beck: +44 20 7464 4091/+44 750 643 4107 / Graham.Atthill-Beck@kbrl.co.uk

Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk

Keith, Bayley, Rogers & Co. Limited

Tom Curran: +44 20 3700 0100

SVS Securities Limited

Brand CEO Alan Green talks Open Orphan #ORPH, Volga Gas #VOLG, Thomas Cook #TCG & IMC Exploration #IMC on Vox Markets podcast

Alan Green, CEO of Brand Communications talks about: Open Orphan #ORPH Volga Gas #VGAS Thomas Cook #TCG IMC Exploration #IMC with Justin Waite on the Vox Markets podcast. Interview is 7 minutes 29 seconds in.

IMC Exploration Group Plc (IMCP) announces that a drilling programme has commenced on PL 2551 in Co. Wexford, Ireland.

IMC Exploration Group Plc announces that a drilling programme has commenced on PL  2551 in Co. Wexford, Ireland. This is a highly prospective licence for gold mineralisation.  There are many occurrences of gold in panned concentrates, gold in soils, gold in deep overburden, gold in mineralised float and gold in bedrock.

The IMC Directors believe that this current drilling programme will complement the work already carried out by IMC that significantly upgraded the gold potential of this licence.

It is considered that there is strong support for the presence of a zone of major gold mineralisation trending NE to ENE.

Dublin, 4th March 2018 

The Directors of the Company accept responsibility for this announcement. 

END OF REGULATORY ANOUNCEMENT

Enquiries:
IMC Exploration Group Plc
Mr. Eamon O’Brien: Tel. Ireland: +353 87 6183024
Ms. Kathryn Byrne: Tel. Ireland: +353 85 2336033

Keith, Bayley, Rogers & Co. Limited 
Graham Atthill-Beck: Tel: +44 20 7464 4091/+44 750 643 4107/+971 50 856 9408
E-mail: Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: Tel: +44 207 464 4098
E-mail: Brinsley.Holman@kbrl.co.uk

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