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Quoted Micro 22 December 2025
AQUIS STOCK EXCHANGE
Vault Ventures (VULT) has raised £555,000 at 1p/share. This will be invested in technology. The Vault Accelerator for blockchain and AI development and income generation is in the final stages of implementation.
Mendell Helium (MDH) says that the flow rate for the Rost 1-26 well in Fort Dodge, Kansas has more than doubled to 250Mcf of helium per day, which equates to $1.4m in income in one year. There are discussions with potential partners for additional wells.
SulNOx Group (SNOX) has been granted a patent in Australia. It covers a range of formulation versions which includes both the Berol® 6446 Heavy Sulphur Fuel Oils (HSFO) emulsifiers and Sulnox Eco™ Fuel Conditioners which enhance all diesel, petrol/gasoline and biofuels, and marine fuels.
DXS International (DXSP) was hit by a cyber incident on 14 December. This should net have a material effect on the full year figures.
B HODL (HODL) has joined the US OTCQB Venture Market under the code BHODF.
Ananda Developments (ANA) is pleased with the US Presidential executive order to reschedule cannabis in the USA from Schedule 1 to Schedule 3 under the Controlled Substances Act. This recognises the benefit of medicinal cannabis. This will make it more straightforward to gain FDA approval and potentially make it easier to raise money. Trading in Ananda Developments shares ends on 22 December.
Mark Horrocks has reduced his stake in Lift Global Ventures (LFT) from 19.96% to 17.9%.
The Smarter Web Company (SWC) has not raised any cash from share subscriptions in the past two weeks, which takes it to four weeks since any subscriptions.
Ajax Resources (AJAX) completed a share issue raising £1.2m at 5.5p each and creditors have converted £110,000 of money owed into shares at the same price. Total cash is £2.6m.
First Sentinel has resigned as corporate adviser to Valereum (VLRM) and trading in the shares The company is still trying to complete the transaction with Quorium Global Photonics SPC. The share price fell 7.41% to 12.5p prior to suspension.
EDX Medical (EDX) is commercially launching a new BC95 testing service for early detection of bowel cancer as well as providing assessments of hereditary risks. Interim revenues increased from £18,000 to £173,000, while the loss increased from £1.7m to £2.3m. Cash was £125,000 at the end of September 2025.
Phoenix Digital Assets (PNIX) is redomiciling to Gibraltar. This is due to the regulatory environment and crypto advisory infrastructure.
RootstockLabs Ltd has reduced its stake in Coinsilium (COIN) from 6.69% to 5.32%.
Oscillate (SRVL) has issued an unsecured convertible to raise $400,000. This is equal to the amount to be received for the sale of helium operations. That will be received over 5 months, and the loan note will provide cash in the meantime. It lasts five months and the annual interest rate I 15%. It can be converted into shares if the company moves to AIM.
Connecting Excellence (XCE) has bought 8.12682413 Bitcoin for £560,000, taking the holding to 24.77668182 Bitcoin at a total cost of £1.71m. The next update will be on 5 January.
Oberon Investments (OBE) published increased interim revenues rose 14% to £5.4m with the fastest growth from investment management. Investment in growing the business means that the loss increased from £1.24m to £2.39m. Management believes that like-for-like growth could be 30% this year.
In the six months to September 2025, business assurance provider Adsure Services (ADS) revenue dipped from £5.06m to £4.89m, and pre-tax profit edged down from £330,000 to £310,000. Management says the decline was down to timing issues. Cash was £610,000.
The Smarter Web Company (SWC) has not raised any cash from share subscriptions in the past two weeks, which takes it to four weeks since any subscriptions.
Property investor Ace Liberty and Stone (ALSP) chairman Dr. Antonios Ghorayeb bought 200,000 shares ag 60p each, taking his stake to 0.89%.
JP JENKINS
Bitcoin mining company Argo Blockchain (ARB) has exited the Main Market and joined JP Jenkins on 15 December.
Bigblu Broadband (BBB) has left AIM and joined JP Jenkins on 18 December.
Powder Monkey (PMGL) has appointed Jon Radford as managing director of the UK brewing operations.
ASSET MATCH
Greenshields Agri Holdings (GAH) improved revenues from £3.95m to £4.27m, while there was a swing from loss to a pre-tax profit of £3.12m. However, this was due to a £4m gain on disposals. Cash generated from operations increased from £340,000 to £1.65m because of a reduction in working capital. Net cash is £1.3m.
Shareholders in Gulfsands Petroleum (GPX) agreed to the capital reorganisation
AIM
Technology enabled PR company Pathos Communications (NEWS) raised £5m at 30p/share ahead of joining AIM on 15 December. Management plans to invest in staff, marketing and technology. The share price ended the week at 32.5p.
Music management company All Things Considered (ATC) switched from Aquis to AIM and raised £8.6m at 125p/share. The share price ended the week at 131.5p.
Kettle components supplier Strix (KETL) is transforming its balance sheet through the £110m sale of Billi, which supplies multifunctional taps, to a private equity-backed Australian bidder. Billi was acquired three years ago for £38m, although Strix has invested in the business since then. Billi has been a growing contributor to the group at a time when other parts of the business have found trading conditions difficult. There are plans for a manufacturing and development agreement. Shareholder approval is required so the sale will not be completed until early next year. Strix will move to a net cash position and a £10m share buyback is planned. The sale equates to 47.8p/share.
The Zimbabwe government has revised its changes to mining royalties and that is good news for Caledonia Mining Corporation (CMCL). The proposed royalty rate of 10% will only come into effect when the gold price exceeds $5,000/ounce, rather than $2,500/ounce. Changes to tax have been withdrawn. The rise in the gold price means that the payback on investment in the Bilboes project could be less than one year. Cavendish has raised its 2025 pe-tax forecast to $131.3m with $163.8m expected in 2026.
The new strategy of Naked Wines (WINE) is already showing signs of paying off and Panmure Liberum has upgraded expectations due to strong pre-Christmas trading. The wines supplier expects full year EBITDA to be at the top of guidance of £5.5m to £7.5m. Panmure Liberum forecasts £7.2m, up from £6.2m. Pre-tax profit of £800,000 is estimated when previously a small loss was expected.
Mkango Resources (MKA) joint venture HyProMag USA, a rare earth recycling and processing business, has expanded the Texas hub facility and is planning a listing in the US in around one year’s time. The NPV of the Texas project and two other sites is $409m based on current market prices. The figure is much higher based on forecast prices. Up front capital costs are $142m.
Chariot (CHAR) has completed a financing for two wind projects in South Africa. The funding is via a subsidiary, and the wind farms should be commissioned in mid-2027. Chariot retains 65% of the subsidiary and Mahlako is paying $17m for 35%. Chariot’s stake is valued at 2p/share. This is the start of the strategy to build up a portfolio of renewable energy assets. The water business, which primarily held the proof-of-concept desalination project in Djibouti, has been sold.
Scotland-based housebuilder Springfield Properties (SPR) has secured a deal with Scottish and Southern Electricity Networks which covers 293 homes across six sites. This will provide income from rentals to help cover building costs on the sites. This deal is part of the new strategy in the north of Scotland, where home will be leased to workers improving the electricity transmission infrastructure.
Bars operator The Revel Collective (TRC) is in discussions with potential acquirors of its businesses and they would not lead to any return for shareholders. There is no likelihood of raising money through a share issue. Trading in the shares will be suspended on 29 December because the 2024-25 annual report will not be published by the end of the year.
Offshore energy market services provider Tekmar Group (TGP) has won a contract with an existing customer worth €8m. This for a major UK offshore wind farm. Revenues should be recognised this year and next year.
Quantum Helium (QHE) says an independent resource report has been published and the best estimate for the Coyote Wash project in Colorado is 0.97bcf of gross recoverable helium. This takes the gross recoverable resource of the company’s projects to 1.1bcf, which have a gross value of $330m. There are also potential oil resources of up to 750,000 barrels. The company also has a 90% working interest in the Sagebrush helium project which has 2U helium reserves of 101MMscf net.
Gaming machines hardware and displays supplier Nexteq (NXQ) has traded in line with expectations in 2025, but management is cautious about next year. A small dip in revenues from $85.5m to $85m in 2026. This has been downgraded from $94.1m because the largest gaming customer has been acquired and the product range rationalised faster than anticipated.
Groundworks company Van Elle (VANL) completed the sale of the Canadian rail business. This raised C$2.7m with a deferred payment of C$2m to be paid during 2026. The total is equivalent to £2.5m but subject to balance sheet adjustments. Meanwhile, revenues of the continuing business rose 12% in the first half.
MAIN MARKET
Seraphim Space Investment Trust (SSIT) investee company ICEYE along with its joint venture partner Rheinmetall has secured a €1.7bn contract for space-based reconnaissance capabilities for the German Armed Forces. This involves a dedicated synthetic aperture radar (SAR) satellite constellation with AI driven image evaluation. The contract starts at the end of 2025 and lasts for five years. ICEYE recently raised €150m in a financing round, which valued the company at €2.4bn. ICEYE is by far the largest investment at just over one-third of the portfolio. The latest contract indicates the maturity of the business and ICEYE could consider a listing in the future. At the end of September 2025, the Seraphim Space IT NAV was £283.6m, which is equivalent to 119.55p/share.
Cash shell Medcaw Investments (MCI) is proposing to acquire Ulvestone, which holds licences for the Eagle Lake gold project in Ontario, Canada, plus a move to AIM.
Andrew Hore
Quoted Micro 20 January 2025
AQUIS STOCK EXCHANGE
SulNOx Group (SNOX) has signed an agreement with Eastern Pacific Shipping, which will use the SulNOxEco additive on a minimum of 30 vessels for at least 18 months. The data from this evaluation could be used for marketing. Easten Pacific Shipping will introduce other potential shipping company clients, and it is subscribing for up to 11.7 million shares in tranches at 2p each. This will happen over the 18-month period. There will be a subscription of up to 4.72 million additional shares at 2p each, which will be over a three-year period. This could total up to 11.8% of the enlarged share capital.
Marula Mining (MARU) says that the Kinusi coper mine is selling a total of 1,000t to four commodity trading groups. The sales have been delayed but should be completed by the end of January. Metallurgical test work results are expected later in January. Management is seeking to secure offtake agreements and non-dilutive funding.
Kasei Digital Assets (KASH) is conducting a strategic review, which could include a departure from Aquis or return of cash to shareholders. Management believes that the outlook for the market for digital assets is positive. However, costs are negatively affecting performance. There is cash of £782,000 and digital assets of £4.26m.
Visum Technologies (VIS) has raised £100,000 from a convertible loan note issue. The conversion price is 0.5p/share. This will fund due diligence for potential acquisitions.
IntelliAM AI (INT) says David Richards is stepping down as chairman at the beginning of July.
Max Capital reduced its shareholding in WeCap (WCAP) from 8.09% to 7.94%. Brompton Asset Management has increased its stake in Global Connectivity (GCON) to 13.96%. RAJ Bailey bought 7,376 shares in Daniel Thwaites (THW) at 89p each.
AIM
Fortress Investment has raised its recommended bid for pubs and bars operators Loungers (LGRS) from 310p/share to 325p/share. Broker Singer did not believe that the original bid fully reflected the value of the business and argued that 375p/share would be a fairer value. Loungers at £338.3m was forecast to make a 2024-25 pre-tax profit of £18m, up from £13.9m last year, rising to £23.8m in 2025-26.
Fintech Fiinu (BANK) has signed heads of agreement for the first white-label deal for its Plugin Overdraft with a UK bank. It will provide a Banking-as-a-Service platform including Plugin Overdraft and requires regulatory approval and testing. The bank will have exclusivity in the UK for 12-months from launch, which could be in the fourth quarter of 2025. There will be royalty fees based on profit generated by the bank from the Plugin Overdraft.
Thor Explorations (THX) says that the Segilola mine in Nigeria produced 24,6000 ounces of gold, taking the total for 2024 to 85,000 ounces. Guidance for 2025 is 85,000 ounces-95,000 ounces. The all in sustaining costs are expected to be $808/ounce. Thor Explorations has moved into a net cash position. Exploration is focused on extending the life of the mine beyond 2028. Thee were positive results announced earlier in January. There should be news concerning the Nigerian federal authorities into the Osun state authorities allegations of underpayment of tax. The PFS for the Douta project in Senegal should be released in the first quarter of 2025.
Michael Ashcroft wants data and information publisher Merit Group (MRIT) to leave AIM. This follows his success in persuading Jaywing (JWNG) to back his AIM cancellation plan for the marketing services business. He owns 42% of Merit Group, so he has a high chance of success. A general meeting will be set within 21 days.
Deltex Medical Group (DEMG) also announced plans to leave AIM. This will save £200,000/year. Last year’s revenues from sales of heart monitoring systems improved from £1.8m to £2.1m and cash was £240,000 at the end of 2024. Andy Mears will be replaced as chief executive by Natalie Wettler.
Quantum Blockchain Technologies (QBT) has made a breakthrough for its Bitcoin Artificial Intelligence model mining tool. The Method C AI Oracle can skip calculations if it assesses that they will not be successful. This provides a 30% improved performance compared with other methods. The company is ready to demonstrate the technology and is seeking a chip manufacturing partner to produce a commercial product.
Gift wrap supplier IG Design (IGR) customers did not sell as much as expected over the Christmas period and this has hit orders. On top of the weak demand, there are US customers in financial difficulties. The fourth largest customer has re-entered Chapter 11 bankruptcy protection and total provisions will be around $15m.The American business is predominantly behind the 10% slump in revenues, although the international business revenues were 1% lower. IG Design is only expected to breakeven in the year to March 2025, compared with forecast pre-tax profit of $32m, and forecasts have been withdrawn by Canaccord Genuity.
Security technology supplier Thruvision (THRU) announced a strategic review. Management believes that additional funding will be required to scale up the business. There is currently cash of £1.5m, which will last until May unless potential orders are secured. The cost base will be assessed. Alternatives include bringing in a partner or selling the business.
Digital healthcare platform developer Trellus Health (TRLS) has entered an agreement with Johnson & Johnson Health Care Systems Inc for a US pilot programme for Trellus Elevate to support severe inflammatory bowel disease. Trellus Health will receive an upfront licence fee and a monthly fee. Net cash was $8m at the end of June 2024 and the additional income could help to extend the cash runway nearer to the end of 2025.
Pawnbroker Ramsdens (RFX) says improved performances from all divisions helped group revenues improve from £83.8m to £95.6m, while pre-tax profit rose from £10.1m to £11.4m. The dividend was raised from 10.4p/share to 11.2p/share. This year has started well. and management has decided to slow the new store opening programme. There will be more focus on the website.
Packaging equipment and automation provider Mpac Group (MPAC) confirms 2024 trading is in line with expectations. Pre-tax profit should recover from £7.1m to £10.5m. Net debt was £37m at the end of 2024. The order book is worth £111m and covers 53% of forecast 2025 revenues.
Telecoms infrastructure products developer Filtronic (FTC) has appointed David Marshall as director of programmes to ensure their efficient delivery. Sarah Shaw becomes General Counsel to manage commercial contracts and other legal affairs. This follows a positive trading statement that led to Cavendish upgrading its 2024-25 pre-tax profit forecast from £9.6m to £11.5m.
Construction recruitment services provider Hercules Site Services (HERC) has decided to sell its suction excavators business to focus on recruitment. The suction excavators were losing money and holding back performance. The disposal will also reduce borrowings. Labour supply revenues increased from £63.8m to £84.1m. Continuing pre-tax profit improved from £1.6m to £2.6m and further improvement to £3.4m is expected for this year.
Bars and leisure operator XP Factory (XPF) grew like-for-like revenues by 8.5% in the third quarter, which is well above the rate for the rest of the year. The figure for the year so far is 5.5%. Immersive escape rooms operator Escape Hunt was 14% ahead and Boom Battle Bars 17% higher over the Christmas period.
Cross-border payment services provider Finseta (FIN) says 2024 EBITDA will be £2m compared to a forecast of £1.9m. There was £2.2m of cash generated from operating activities. The benefits from investment in the business and new products will show through in 2025.
Premier African Minerals (PREM) has raised £1.2m from a placing at 0.0275p/share. A retail offer could raise up to £2.3m more. The cash will be invested in the Zulu project in Zimbabwe and to pay suppliers. The retail offer closes on 20 January. Some creditors may take shares for the money owed. If the cash raised in the placing and offer plus the capitalisation of debts does not get near to £3.5m the placing and offer will not proceed.
Cambridge Nutritional Sciences (CNSL) has settled its dispute with the UK DHSC with no admission of liability. The DHSC will not seek reimbursement of pre-production payments for Covid tests and Cambridge Nutritional Sciences will not claim for losses for failure to replace orders. The company will have legal costs of £200,000, but it will also release £2.5m from deferred income as exceptional income.
Cannabis-based medicines developer Celadon Pharmaceuticals (CEL) says that the strategic collaboration with Valeos Pharma is contributing to its business. This will enable the acceleration of supply of pharmaceutical grade EU-GMP cannabis active pharmaceutical ingredient products. Valeos Pharma will provide up to three tonnes of annual cultivation capacity, which is equivalent to £8.7m of income/year.
Gaming machines hardware and displays supplier Nexteq (NXQ) had net cash of $29.1m at the end of 2024, which is more than 50% of market capitalisation. Trading problems had already been flagged and there was no additional surprise. There was destocking and delayed product launches by customers. Revenues were 24% lower at $86.7m, which was slightly better than forecast. The results will be published on 19 March.
Supercapacitors developer Cap-XX (LON: CPX) has made its first shipment of co-branded products to electronic components distributor SCHURTER’S warehouse in Switzerland. On delivery, an invoice will be raised.
Construction and property asset management software supplier Eleco (ELCO) has acquired maintenance and management software provider PEMAC for €6m in cash with up to €2.4m payable based on achieving performance targets. Clients include Coca Cola and Heineken. This fits well with the existing ShireSysem product.
Argo Group Ltd (ARGO) is making a tender offer at 5p/share as part of its plan to leave AIM. Shareholders owning 71.2% of the company will not tender shares, so everyone else can have their shares acquired in the tender. The tender closes on 14 February.
MAIN MARKET
Packaging manufacturer and distributor Macfarlane Group (MACF) has acquired protective packaging manufacturer Pitreavie for £18m, with a net initial payable after debt movements of £10.6m. Pitreavie made a 2024 pre-tax profit of £1.3m. There should be cost savings from integrating the business.
Online travel hostel agency Hostelworld (HSW) says strong demand for Asian hostels helped 2024 net bookings rise 6% to 6.9 million, although there was a dip in average booking value. That meant that revenues were 1% lower at €92m. Lower marketing spend meant that margins improved. More bookings were made through the company’s app. Pre-tax profit is expected to jump to €17m. Net cash is €2m. There will be an update on strategy in the second quarter.
Bitcoin miner Vinanz (BTC) switched from Aquis to the Main Market on 13 January. The share price opened at 16.5p and rose to 22.5p before falling back to 16.5p at the end of the week.
Argo Blockchain (ARB) has been told it has until 15 July to regain compliance on Nasdaq with the minimum price requirement of $1 for its ADSs.
Andrew Hore
New Vox Markets Podcast out now with our CEO Alan Green – #BOOM, #ARB & #AQX
Alan Green, CEO of Brand Communications about the weekend’s football and rugby plus the following companies:
UK Investor Magazine Podcast- CEO Alan Green discusses Burberry, Argo Blockchain, and AB Dynamics
Alan Green joins the Podcast as we discuss key market themes and a selection of UK equities.
We discuss:
- Burberry (LON:BRBY)
- Argo Blockchain (LON:ARB)
- AB Dynamics (LON:ABDP)
UK inflation has began to fall and the FTSE 100 continues to flirt with all time highs. We look at what could derail a rally and the key influences on stocks.
Burberry has been a major beneficiary of Chinese economic expansion over the past 20 years. We run through this morning’s update as China reopens.
Argo Blockchain have secured financing to avoid a worst case scenario in the short term, we look at whether the recent jump in Argo shares is a dead cat bounce, or can be sustained.
We finish by looking at AB Dynamics.
Alan Green talks Dekel Agri-Vision #DKL, Airtel Africa #AAF & Argo Blockchain #ARB on the Vox Markets Podcast
Alan Green discusses Dekel Agri-Vision #DKL, Airtel Africa #AAF & Argo Blockchain #ARB with Justin Waite on the Vox Markets Podcast.
Andrew Hore – Quoted Micro 16 August 2021
AQUIS STOCK EXCHANGE
Yooma Wellness Inc (YOOM) has a dual quotation on the Canadian Securities Exchange and obtaining the Aquis quotation is part of the stated strategy to become the largest CBD business in the world. Acquisitions have been made this year and at least three more are lined up. Prior to joining Aquis, Yooma raised £7.46m at 52.32p a share. As well as the cash raised in the placing, there is an option granted to a strategic investor to subscribe £5m for 9.56 million shares. Administrative delays relating to the investor mean that the share issue has not been completed yet. Yooma Wellness says that annualised 2021 sales could be $32m if it makes the expected acquisitions.
Ecotricity has posted its offer document for Good Energy (GOOD), which continues to reject the approach.
Clean Invest Africa (CIA) is in discussions with a potential investor. A fundraising could be secured within weeks. There are also discussions concerning a joint venture. CIA has been hit by Covid-19 measures in South Africa.
Pioneer Media Holdings Inc (PNER) has made an additional investment in connected gaming platform developer Paidia eSports Inc and a new £200,000 investment in Streaks Gaming. Pioneer will own 40% of Paidia. London-based Streaks operates a conversational gaming platform. Users are matched with a personalised digital conversational partner generated by AI. Pioneer will own 16.1% of Streaks.
Sativa Wellness Group Inc (SWEL) increased revenues by 828% in the second quarter of 2021. Revenues in the six months to June 2021, revenues jumped from £733,000 to £4.86m, while the loss reduced from £2.37m to £1.27m. The business is being restructured into three divisions: Goodbody Botanicals, Phytovista and Goodbody Wellness.
Construction of the DJT Plants medical cannabis growing facility started on 4 July. Ananda Investments (ANA) continues to make progress with the purchase of the 50% of DJT it does not own.
Rutherford Health (RUTH) is partnering with genomic and theranostic company OncoDNA, which will enable its patients to obtain genomic testing that can help to secure the most appropriate cancer treatment.
Administrators have been appointed to NQ Minerals (NQMI).
Chris Akers has increased his stake in Oscillate (MUSH) from 3.1% to 9%. Thomas Grant Nominees owns 9.95%. Robert Johnson has a 3% stake in TECC Capital (TEC).
AIM
Drug developer BiVictriX Therapeutics (BVX) has a low capital cost model which outsources the main operations. It has a lead asset called BVX001, which is targeting adult leukaemia. BVX001 has already indicated an anti-tumour effect in animal models. No adverse effects were observed. The £7.5m raised at 20p a share will accelerate the optimisation of BVX001, so it reaches pre-clinical milestones. The share price ended the week at 23.5p.
Marlowe (MRL) has decided not to bid for Restore (RST), which has acquired PRM Green Technologies, which is an IT recycling business. This acquisition will be immediately earnings enhancing.
Crestchic revenues increased by 44% in the first half of 2021 and Northbridge Industrial Services (NBI) group revenues are 22% ahead at £19.6m. The 2021 pre-tax profit forecast was increased from £2.1m to £2.5m.
Self-storage sites operator Lok’nStore (LOK) is increasing occupancy rates and adding new sites. Self-storage revenues increased by 21% over the year to July 2021, which is well ahead of forecasts. The first half growth rate was 11%. Over the 12-month period, occupancy rates have increased from 69.6% to 85.8%.
Oil and gas producer Southern Energy Corp (SOUC) concentrates on areas with proven low-cost producing assets, with the current focus in Mississippi. The strategy is to grow production through acquisitions. Alberta-based Southern Energy plans to increase production to 25,000 barrels of oil per day over the next two year. This will require larger acquisitions than in the past. No cash was raised, and the shares will continue to be traded on the TSX Venture Exchange. The share price opened at 6.5p on the first day and stayed at that level until the end of the second day when it fell to 5p (4p/6p) and that price was maintained.
Science Group (SAG) has made a bid approach for TP Group (TPG). Science group has acquired a 10.2% stake in TPG, with the shares being acquired for 5p each.
Best of the Best (BOTB) says that there has been a 15% decline average weekly sales of competition entries. finnCap has cut its earnings forecast from 142.4p a share to 53.3p a share. There should still be £12m in cash at the end of April 2022.
Venture Life Group (VLG) says interim revenues were lower this year because of the lack of hand sanitiser sales and lower sales of Dentyl in China. Sales of other products grew. Forecasts have been updated for recent acquisitions. Share issues mean that earnings are expected to be flat at 2.5p a share. The full benefits of the acquisitions will come through in 2022 when earnings are expected to be 4.6p a share.
Verditek (VDTK) has raised £353,000 from its Crowd for Angels bond offering.
MAIN MARKET
Foams manufacturer Zotefoams (ZTF) improved its interim pre-tax profit by 49% to £4m even though it was reduced by currency movements. Footwear generates one-third of revenues. The new manufacturing site in Poland has opened.
Argo Blockchain (ARB) generated revenues of £31.1m from mining 883 bitcoin in the first half of 2021. Although revenues are improving, there will be higher than expected tax and finance charges this year. finnCap has reduced its 2021 earnings estimate from 7.6p a share to 5.6p a share.
Plaza Centers NV (PLAZ) has received a revised proposal from GC Hevron Capital. The company’s assets would be transferred to a trustee of managed for the benefit of bondholders. Hevron would be issued shares equivalent to 74.99% of the enlarged share capital. There will be a NIS 2 million payment to cover creditors. Hevron will then inject a new business, which is part of its investment portfolio, into the shell. The target is a nutritional food technology company.
Danakali (DNK) is cancelling its standard listing on 24 September and retaining its ASX listing.
Mast Energy Developments (MAST) has acquired Pyebridge Power, which owns a 9MW gas-powered standby generation facility, for £2.5m in cash. The site could generate EBITDA of £488,000 a year.
Hawkwing (HNG) is raising £16.5m through the issue of 8% convertible loan notes. They are convertible at 6p a share. The cash will be loaned to ecommerce aggregator Internet Fusion Group to finance two acquisitions – an outdoor lifestyle brand and an online fashion accessories retailer. Hawkwing plans to acquire Internet Fusion for an enterprise value of £115m through an issue of shares at 6p each. Trading in Hawkwing shares remains suspended.
Path Investments (PATH) has agreed to acquire DG Innovate for £32m in shares at 0.6p each. DG is developing electric motor technologies and energy storage systems. There is enhanced drive technology, which is being used to develop lightweight and cost-effective electric motors, and enhanced battery technology, which is developing fully-recyclable, sodium-ion batteries offering greater energy density than current technologies.
Andrew Hore
Andrew Hore – Quoted Micro 9 August 2021
AQUIS STOCK EXCHANGE
Chapel Down (CDGP) has announced Andrew Carter as successor to chief executive Frazer Thompson in September 2021.
National Milk Records (NMRP) increased its fourth quarter revenues by 7% to £5.72m. Milk recording revenues grew by 9%. The corresponding period did cover the initial lockdown. Milk prices are holding up at levels where dairy farmers will be profitable. The first phase of IT investment will be up and running later this year.
Boanerges Ltd (BNRG) has paid £25,000 for an option to invest £2m for a 14.3% stake in Fintech Digital Platforms, which owns property search internet portals.
Samarkand (SMK) has secured an extension to its distribution contract with skincare brand 111SKIN until the end of July 2023. Non-exec Keith Higgins has bought 21,739 shares at 146p a share.
Inqo Investments (INQO) had significant write-offs and bad debt provisions in the year to February 2021. This contributed to the more than doubled loss of R13.4m as revenues slumped from R24.4m to R4.2m. The total cash outflow was R14.7m and cash fell below R1m. Kuzuko Private Game Reserve will reopen in September. Uganda-based Four One Financial Services and Kenya-based South Lake Medical Centre both made higher interest payments to Inqo.
S-Ventures (SVEN) has taken a 50% stake in Vegan Punk Ventures and invested up to £100,000 in loans. The brand is PlantPunk and it has a range of ZeroBeef meat alternatives. Dave Ahern will be managing director and third-party investors will provide loans of up to £50,000.
Altona Rare Earths (ANR) had cash of £436,000 at the end of June 2021.
Helium Ventures (HEV) continues to trade at a premium to its 10p placing price. The share price is currently 32.5p (31p/34p). James Sheehan has increased his stake from 8,5% to 9.47%.
Eight Capital Partners (ECP) has sold its stake in Finance Partners Group for €2.15m and €1.57m of this has been received. The original cost was €1.9m. The investment focus will be fintech.
Vulcan Industries (VULC) has raised £223,000 at 1.46p a share and issued £48,000 worth of shares at 2p each.
Veni Vid Vici has changed its name to VVV Resources (VVV). Angelfish Investments has changed its name to Igraine (KING). DicovORE has changed its name to Oscillate (MUSH).
Trading in First Sentinel, which has changed its name to Omni Egis (OMNI) and NQ Minerals (NQMI) shares has been suspended ahead of publication of their respective accounts. Freyherr International (FRYR) has withdrawn from Aquis.
AIM
In 2020-21, NWF (NWF) did not manage to match the previous year’s profit performance of the fuels division, but the cold winter and home working meant that the performance was better than expected. Management is keen to make further acquisitions to broaden the geographic spread of the fuels business. Overall, group pre-tax profit was 10% lower at £11.9m. The efficiency improvement in the food warehousing division meant that its profit contribution was higher. The feeds division reported a lower profit but with milk prices over 30p per litre the outlook is positive for dairy feed.
Higher second half sales and improved efficiency helped Filtronic (FTC) maintain profitability at £200,000 even though full year revenues fell 9% to £15.6m. The telecoms and RF components and equipment supplier generated cash and net cash improved to £2.8m at the end of May 2021. 5G investment and moves into newer markets, such as space, provide a positive outlook for the future and profit should build from now on. Revenues are expected to grow by 16% this year and pre-tax profit of £500,000 is forecast.
The latest trading statement from Belvoir (BLV) confirms a strong first half with revenues growing by two-fifths, due to buoyant house sales. The steadier lettings income has grown by 13% – 10% organically, which is much faster than the market.
Maestrano (MNO) has secured a five-month proof of concept contract with Network Rail for HS1, the high speed line that goes to the channel tunnel. This will monitor overhead lines, vegetation, track and passing clearances. HS1 is the same specification as European tracks so it could provide a way into the European market.
Microbiome-based products developer Optibiotix Health (OPTI) generated a 44% increase in interim revenues to £1.07m with LP LDL probiotic cholesterol-reducing products and Slimbiome products accounting for most of the revenues.
Seeing Machines (SEE) 2020-21 revenues were 2% ahead of expectations at A$47.3m. There was $47.7m in the bank at the end of June.
Xpediator (XPD) has formed a strategic partnership with e-commerce fulfilment company Synergy Retail Support and is providing space at its Braintree warehouse.
MAIN MARKET
Argo Blockchain (ARB) generated July revenues of £5.6m, up from £4.36m in June, even though the average bitcoin price fell. A Nasdaq listing is being considered.
Challenger Acquisitions has changed its name to Cindrigo Holdings (CINH) following the completion of the acquisition of the renewable energy products business.
Kanabo (KNB) has a stake in medical cannabis cultivation company Hellenic Dynamics, which is being acquired by AIM-quoted UK SPAC (SPC) for £45.2m in shares at a minimum price of 0.472p a share. The £750,000 investment in Hellenic will be converted into shares at a minimum 30% discount to the prospective. UK SPAC intends to move to the standard list.
Starcrest Education (OBOR) has signed heads of terms to acquire 80% of National Training Company. Starcrest is not going ahead with the acquisition of The London School of Science and Technology and costs of £1.2m have been written off. There was £700,000 in cash left at the end of June 2021.
Andrew Hore
Alan Green talks FTSE100, plus Rolls Royce #RR, Argo Blockchain #ARB & CVS Group #CVSG on the UK Investor Magazine podcast
This week’s Podcast with Alan Green looks at Rolls Royce (LON:RR), Argo Blockchain (LON:ARB) and CVS group (LON:CVSG).
Inflation is at the forefront of investors minds again with European equities, including the FTSE 100, sinking over fears of an increase in interest rates. Although central banks have made no indiction this will the case in the short term, it hasn’t stop markets sending bond yields higher. UK 10-year Gilts now yield 0.9% having only yielded 0.2% at the beginning of 2021.
Rolls Royce have recently announced a move into Nuclear Power with a series of projects that could provide power for a million homes. The mini power stations will provide diversification in a business model dogged by COVID.
Rolls Royce have been positive about the recovery in their aviation business as economies reopen, however, analysts have released a note this week which suggest Rolls Royce may have been over confident with their assumptions for the recovery. With the Rolls Royce share price up 46% YTD, we exam the merits of the company and whether now could be an entry point for investors looking at Rolls Royce shares.
With Bitcoin falling through the floor, there is attention paid to Argo Blockchain shares. The Bitcoin miner provides a proxy for the Bitcoin price and Argo’s shares have duly sunk in line with Crypto assets.
We also revisit veterinary company CVS Group who are enjoying the fruits of reoccurring revenue and growing demand.
Alan Green talks FTSE100 mining stocks, plus Cadence Minerals #KDNC, Itaconix #ITX & Mode Plc #MODE on the UK Investor Magazine podcast
Inflation has unnerved markets sending bond yields higher and shares higher. This Podcast addresses the dynamics around higher inflation and what it means for shares listed in London.
Alan Green joins us to look at FTSE 100 Bond-proxies that have the characteristics of strong cash flows and reliable shareholder distributions and explore the outlook in an environment of rising bond yields.
With multiple analysts and economists predicting a commodities super cycle, we touch on FTSE 100 mining shares and how much of a metals rally is already priced into shares.
Mode listed in London last year and investors have questioned ever since whether the Banking App company can be compared to the hugely successful Argo Blockchain. We look at this comparison and whether it would be sensible to make comparisons.
We discuss Cadence Minerals (LON:KDNC), Mode (LON:MODE) and Itaconix (LON:ITX).