AQUIS STOCK EXCHANGE
ChallengerX (CXS) has acquired a 13-month renewable licence over the rights of FlashBet Wheel Apps design and technology in the UK and Europe. This cost 80 million shares issued at 0.55p each. The licence can be renewed for a royalty fee based on 10% of ChallengerX’s yearly revenues. ChallengerX also has the right to buy the IP in return for 900 million shares. The app is a parlay/accumulator betting product.
TruSpine Technologies (TSP) intends to appeal a disciplinary notice and fine of £215,000, although £165,000 of this is only payable if the company fails to comply with market rules at any point in the next three years. The fine relates to the failure to initially report that a loan agreement included a charge of assets and a failure of corporate governance. The company has raised £50,000 at 2.5p/share.
SuperSeed Capital Ltd (WWW) increased NAV by 21.7% to 118p/share at the end of the first half. The share price is 87.5p. Portfolio companies are making progress. Revenues analytics and forecast platform provider Kluster Enterprises raised additional cash in a Series A financing.
Oscillate (MUSH) is planning to ask shareholders to approve a members voluntary liquidation and investee company LaunchMyCareer Holdings, formerly Dev Clever, is presenting a winding-up petition to the courts. Oscillate bought 2.5 million warrants at an exercise price of 1p/share. Asimilar Group (ASLR) owned 72.3 million shares in LaunchMyCareer and they were valued at 2p each.
Ananda Developments (ANA) says NHS Scotland will fund a MRX1 endometriosis trial. It will provide £300,000 for the cannabis-based oil treatment trial.
Crypto app operator Tap Global Group (TAP) increased full year revenues from £900,000 to £2.52m, helped by the inclusion of Tap Global Ltd since January 2023. There are 44 cryptocurrencies on the platform.
Marula Mining (MARU) reported results from the phase 1 exploration programme at the Kinusi copper mine. This identifies a copper mineralised corridor for over one km in length and more than 300 metres in width with grades of up to 30%.
Aquis-quoted NFT Investment (NFT) had net assets of 3.37p/share at the end of June 2023. There was a £10m increase in the value of digital assets over the six-month period. There was £2.78m in cash. Crypto prices are starting to rise and that should benefit net assets. The share price is 1.65p so the discount to NAV is more than 50%.
Coinsilium Group Ltd (COIN) has agreed to wind up the Singapore-based joint venture with IOV Labs after the companies could not reach an agreement.
RentGuarantor (RGG) has raised £200,000 from an issue of 6% unsecured convertible loan notes.
Schroders trimmed its stake in Invinity Energy Systems (LON: IES) from 22.3% to 21.97%.
AIM
Tribe Technology has raised £4.5m at 10p/share ahead of its AIM admission and small investors are being given the chance to apply for shares via a retail offer. They can subscribe for up to £400,000 of additional shares in the Northern Ireland-based manufacturer of mining equipment. Nominated adviser and broker Allenby is acting as coordinator of the offer. The minimum subscription is £50 and the offer closes at 12pm on 25 August – although it could close early if oversubscribed. Tribe Technology was founded in Perth, Western Australia in 2019 by chief executive Charlie King prior to setting up a factory in Northern Ireland. It is developing autonomous drilling rigs. These rigs will help to improve safety and increase productivity.
Tan Delta Systems (TAND) joined AIM on 18 August and the shares went to a premium to the placing and offer price of 26p. Tan Delta Systems has developed technology for real-time oil condition analysis. Oil condition monitoring is part of predictive maintenance and involves analysis of lubricant and fuels for contamination and chemical content. This indicates how performance and reliability can be affected. The information can be used to reduce breakdowns and oil consumption, thereby saving money.
Online marketing and domain name services provider CentralNic (CNIC) is continuing its record of organic growth. In the six months to June 2023, revenues improved from $334.6m to $396.4m. Organic growth over the past 12 months is 31%. Profit before amortisation rose from $29.8m to $31.8m. Net debt rose from $56.6m to $68.2m over the period after paying $15.2m in deferred consideration, share buy backs and the $3.6m cost of the dividend.
Glantus (GLAN) is recommending a 33.42p/share bid from Basware Oy, which values the software company at £17.8m. This compares with the May 2021 placing price of 102p/share, which indicates the extremely poor performance of Glantus since it floated. Initial investors will get less than one-third of their money back.
Harvest Minerals (HMI) has been hit by weaker fertiliser demand, which has continued in July. So far this year, 36,000t has been supplied. On top of this there are advanced sales of 33,000t that were not recognised in 2022. The second half should be the busiest for the Brazil-based company, but fertiliser orders are still being delayed because of low crop prices. The 2023 invoiced sales target has been cut from 120,000t to 70,000t.
Tremor International (TRMR) increased second quarter revenues by 13% to $80.2m in a tough AdTech market and $65m of annualised cost savings have been achieved. However, the second quarter revenues were 10% lower than forecast. The operational gearing of the business means that finnCap has slashed its 2023 earnings forecast from 45.4 cents/share to 18.9 cents/share.
Serinus Energy (SENX) reports that lower oil and gas prices mean that interim revenues slumped from $29.3m to $8.9m. There was a $400,000 cash inflow. Net cash was $2.5m at the end of June 2023. A full year loss is forecast. Chief executive Jeffrey Auld bought 250,000 shares at 1.95p each and 250,000 shares at an average price of 2.1p, while James Causgrove acquired 250,000 shares at an average price of 2.2p.
MAIN MARKET
Golden Rock Global (LON: GCG) has agreed to acquire 2Mee for an estimated £6m to £8m in shares. The existing shares in Golden Rock Global will be worth the higher of £1m or 15% of the group’s enlarged market capitalisation. 2Mee has developed a platform that delivers influencers as on-screen web and app messages.
Ashington Innovation (LON: ASHI) has entered into non-binding terms for the acquisition of Cell Therapy for £135m in shares. There will also be up to £3m in cash raised at the time of the deal. Cell Therapy has a portfolio of patented cellular medicines, and the main potential drug has completed an early-stage human trial in heart failure.
Andrew Hore
