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Rogue Baron (SHNJ) joined the Aquis Stock Exchange on Friday. The company is a spirits brand developer, and its focus is the Shinju Japanese whisky brand and specialist tequila Copa Imperial Tequila. The idea is to build these and other niche brands to the point where larger drinks companies will want to acquire the brand. There was £755,000 raised at 7p a share. The share price ended the first day of trading at 8p (7p/9p).
Gunsynd (GUN) has already more than trebled the value of its investment In Rogue Baron, which was worth more than £1.8m, including accrued convertible interest, at the time of flotation. Gunsynd holds a 28.5% stake. Chris Akers has increased his stake in Gunsynd from 5.36% to 6.19%.
Sativa Wellness (SWEL) has taken more than £1.1m of bookings for its Covid-19 testing clinic business. This has been achieved by the Bath clinic and a further clinic has opened, plus 13 in-pharmacy and two mobile clinics. There could be 30 clinics by the end of April, ready for the easing of lockdown.
KR1 (KR1) has invested $200,000 into Automata Network’s seed funding round.
IamFire (FIRE) made a loss of £162,000 in the six months to October 2020. During the period, investments were made in WeShop and Bio2pure.
Upper Thames Holdings (UPPT) has net liabilities of £83,000 at the end of 2020 and since then £516,000 has been raised. The board will seek approval to change the company’s name to Valereum Blockchain.
Quetzal Capital (WENP) is raising £3m at 4p a share and issuing enough warrants exercisable at 8p to raise a further £3m. This will help to fund a reverse takeover or investment. NQ Minerals (NQMI) has raised a further £255,000 at 7p a share. Bluebell Investment and Consulting has invested £25,000 in Wheelsure Holdings (WHLP) at 13.5p a share, which represents a 4.9% stake. Altona Rare Earths (ANR) has raised a total of £800,000 at 6.5p a share from placings.
Western Selection (WESP) has increased its stake in Bilby (BILB) by 698,737 shares at an average share price of 35.11p each. This takes the stake to 12.2%.
All Star Minerals (ASMO) has appointed SP Angel as broker.
AMTE Power (AMTE) raised more than initially expected in the flotation and this should provide the cash required for investment in the battery cells development business. AMTE raised £11.3m at 175p a share. The share price jumped to 233.5p on the first day of dealings. The battery cells nearing commercialisation are aimed at the high-performance vehicles, oil and gas equipment and energy storage markets. There are currently 16 potential clients that products are being developed for.
Engineer Avingtrans (LON: AVG) is raising £35m from the sale of the Peter Brotherhood business that came with the £52.7m acquisition of Hayward Tyler in September 2017. Peter Brotherhood was estimated to be worth £9.3m of that cost. Borrowings will be paid off. Net cash is expected to be £22m at the end of May 2021.
Kape Technologies (KAPE) is acquiring Webselenese for $149.1m. This provides the group with a consumer platform for privacy and security content, which will generate information and data on consumer trends. In 2020, the acquired business generated revenues of $64.5m and EBITDA of $30.7m. In 2021, Kape is expected to increase earnings from 15.8p a share to 25.4p a share.
Billing and customer relationship management software provider Cerillion (CER) has won a Middle East contract worth £5m over five years. The implementation will take up to 18 months.
Getech (GTC) is raising up to £6.25m via a placing and open offer at 22p a share. The cash will be invested in developing hydrogen products and services.
Online merchandising technology provider Attraqt (ATQT) improved its full year revenues by 8% to £21m, helped by an initial contribution from AI firm Aleph. The loss was reduced from £4.4m to £2.6m. Annualised recurring revenues were £21.1m at the end of 2020. A £500,000 loss is forecast for 2021 before a move into profit in 2022.
Cloud-based PCI payment services provider PCI Pal (PCIP) is gaining momentum in the US. In the six months to December 2020, revenues rose by 56% to £3.2m. More of these revenues are coming via channel partners. Total annual contract revenues were 59% ahead at £8.3m. There should be enough cash in the bank to get the company to the point where it is generating cash.
Shoe Zone (SHOE) says that it does not expect to pay a dividend until at least 2025. The footwear retailer expects to continue to lose money this year. The stores are closed at the moment.ch
Online women’s fashion retailer Sosandar (SOS) has agreed to sell a specialist collection of its products through Marks and Spencer (MKS). This follows deals with Next and John Lewis.
Coral Products (CRU) is repaying its £1.6m property mortgage out of the proceeds of its recent disposal. The £2.5m valuation of the Haydock site is expected to be increased in the next accounts. Coral has also repaid £500,000 of its CBIL loan with the other £433,333 likely to be paid before the year-end.
Business restructuring company Begbies Traynor (BEG) is acquiring of David Rubin & Partners for up to £25m. This takes the group’s market share to 12%. There is an initial £12m payable and the rest depends on performance over five years. Begbies raised £22m at 105.5p a share to help finance the deal, which should be immediately earnings enhancing.
Arden has upgraded its Dekel Agri-Vision (DKL) forecasts due to higher crude palm oil and palm kernel oil prices. This means that Arden expects Dekel to be profitable in 2021.
Avation (AVAP) is raising £7.5m at 110p a share and this provides additional cash at a difficult time for the airline industry. NAV was previously 174p a share. Avation could continue to lose money for the next two years Net debt will still be more than $1bn.
Challenger Acquisitions (CHAL) is entering into a deal to acquire Cindrigo Energy, which owns Cindrigo Ltd, the company where a previous offer lapsed. The business is a developer of renewable energy projects using Swedish expertise in waste-to-energy and biomass. The shareholders of the target company will own 96.5% of the enlarged business.
Kanabo (KNB) has signed a production and supply agreement with PharmaCann Polska for cartridges containing Kanabo’s medicinal cannabis formulations. The initial production capacity is up to 36,000 cartridges. FastForward Innovations (FFWD) has sold its stake in Kanabo for a profit of £140,000. FastForward has also sold its Cellular Goods (CBX) for a £54,000 gain.
Argo Blockchain (ARB) has raised £26.8m at 200p a share and this cash will fund the purchase of a further stake in Pluto Digital Assets. The £7.3m investment in Pluto will maintain the Argo stake at 25%. AIM-quoted Pires Investments (PIRI) owns 6.4% of Pluto.
The Financial Reporting Council has started an investigation into the audit of motor dealer Lookers (LOOK) by Deloitte for 2017 and 2018.
Wheaton Precious Metals (WPM) is increasing its first quarterly dividend by 30% to 13 cents a share. The strategy is to pay 30% of average cash generated by operating activities in the previous four quarters.
Pharmaceuticals developer Nuformix (NFX) is raising £1.565m at 2p a share. This cash will finance preclinical studies for the NXP002 inhaled formulation for lung disease and further research and development of formulations. Nuformix is waiting to see whether Oxilio will option the NXP001 cancer treatment. This option expires on 24 March.
Oberon Investments Group (OBE) has joined the Access segment following the reversal of the wealth management business into standard list shell Baskerville Capital. Assets under administration are more than £400m. Oberon was formed in 2017 and acquired investment manager MD Barnard. It also has a corporate broking business, and it is joint broker to MyHealthChecked (MHC). There was £1.44m raised at 4p a share at the time of the reversal.
Brewer Curious Drinks is being placed into administration and the business will be acquired by Risk Capital Partners, which was founded by Luke Johnson. This will have to be agreed by the HMRC and the secured creditor HSBC. There should be no redundancies Majority owner Chapel Down Group (CDGP) is offering small shareholders in Curious Drinks a share swap. There will be 1.57 Chapel Down shares issued for each Curious Drinks share. In 2015, Curious Drinks raised £1.71m via a crowdfunding with Seedrs, which equates to a market capitalisation of £17.7m. That funding was equivalent to 9.66% of Curious Drinks and there were 886 shareholders. The share swap should provide around 50% of the initial investment. There will be less than 1% dilution for Chapel Down shareholders. Chapel Down net debt will be slashed from £7.2m to £100,000. There was a loan from Chapel Down to Curious Drinks of £7.77m included in the 2019 accounts.
Coinsilium (COIN) holds $1.98m of cryptocurrency and tokens, which is a 17% increase in fewer than three weeks.
Gunsynd (GUN) has sold all its shares in Angold Resources. This raised £163,000. Chris Akers has increased his stake in Gunsynd to 5.36%.
Tectonic Gold (TTAU) continues to have a 100% success rate for its exploration drilling. According to managing director Brett Boynton the latest hole shows “multiple stacked veins somewhat like a palm tree spraying out mineralised fronds from the primary fault zone”.
NQ Minerals (NQMI) has raised £301,000 at 7p a share from one institution and private investors. Vulcan Industries (VULC) has raised a further £185,000 with some shares placed at 3.6p and some at 4p.
Western Selection (WESP) has bought a further 150,000 shares in Bilby (BILB) at 29.8p each. The total stake is 11%.
Joules (JOUL) has acquired the Garden Trading Company, which takes it into the home and garden market and adds annual revenues of £168m. Joules is paying £4.5m in cash and 2.83 million shares. Peel Hunt has increased its 2021-22 pre-tax profit forecast by £2m to £10.6m.
Engineer Avingtrans (AVG) maintained its interim revenues at £54.1m and the stemming of losses at recent acquisitions has helped pre-tax profit to nearly double to £3.5m. It offset the lower demand from the oil and gas sector. The recent merging of the MRI operations with Magnetica, will enable niche MRI products to be developed, but it will take time for the revenues to come through. Meanwhile, Avingtrans is stopping supplying third parties. The valuable Luton site could be sold in the next year or so if market conditions allow.
Kromek (KMK) is raising up to £13m via a placing and open offer at 15p a share. The cash will be used to accelerate the commercialisation of its bio-security products and boost the marketing of medical imaging and nuclear detection products. Intuitive Investments Group (IIG) is investing £250,000 in the placing.
Packaging manufacturer Robinson (RBN) is acquiring blow moulded containers producer Dhela Plast for up to £7.7m. There will be additional investment of £2.4m in the Danish company. The customer sectors are similar to Robinson and the deal widens its geographic reach.
Motor finance provider S & U (SUS) expects a rebound in demand when lockdown restrictions are eased. In the past two months new deal transactions are running at nearly 80% of previous levels. Investment in Aspen Bridging has been increased because of the strong demand. A second interim dividend of 25p a share has been announced.
A planned demerger of assets by Aseana Properties Ltd (ASPL) has been stopped because the banks have not agreed to the proposal.
Castillo Copper Ltd (CCZ) confirms an extension to the 100%-owned Big One deposit and JORC modelling is underway.
Argo Blockchain (ARB) intends to acre 320 acres in Texas where it will build a new mining facility in the next 12 months. The overall cost will be $17.5m in shares.
UP Global Sourcing (UPGS) grew interim sales by 11%. Beldray represented 28% of sales, with the next biggest contributions coming from licenced brands Salter and Russel Hobbs.
One Heritage Group (OHG) is taking advantage of the share price rise over the past two months to raise £548,500 at 30p a share. The residential developer floated before Christmas at 10p a share. One Heritage plans to buy an office block in Stockport, which can be converted into residential. Plus House will cost £725,000.
Tirupati Graphite (TGR) is increasing the planned flake graphite capacity of the first module at the Vatomina project by 50% to 9,000 tonnes a year. The project will be commissioned in the second quarter. Carboflamex and other expandable graphite products produced by the company have gained certification to be sold in the EU.
Avation (AVAP) has entered into a lease with an Asian airline for an ATR72-600 aeroplane, which should be delivered in March.
Standard list shell Baskerville Capital (BASK) plans to switch its quotation to the Access segment of the Aquis Stock Exchange. This move will happen at the time of the reverse takeover of Oberon Investments, the owner of fund manager MD Barnard. The transfer to the Access segment is expected to happen on 5 February, although this depends on completion of the deal.
Walls and Futures REIT (WAFR) increased its NAV to £3.96m at the end of September 2020. The Southfields property has been sold for £660,000, which was a small discount to the previous book value. The remaining residential property will be sold in the next few months. The company will then concentrate on specialist supported housing.
KR1 (KR1) has sold its remaining holding of FunFair tokens for an average price of 2.0207 cents each. That raised $1.28m, which is more than treble the cost.
Wishbone Gold (WSBN) expects the analysis of the aerial magnetic survey of the Red Setter project in Western Australia will be available before the end of the first quarter of 2021.
All Star Minerals (ASMO) continues to review opportunities in the mining sector in Africa. The deal is likely to be funded by a share issue, but more cash will be required.
Arbuthnot Banking (ARBB) non-executive director Nigel boardman has increased his shareholding from 5,020 shares to 11,348 shares. Shepherd Neame (SHEP) director JB Neame has sold 4,000 shares at 690p each and bought back 2,000 shares at 691.5p for an ISA.
Vulcan Industries (VULC) has raised £150,000 in share issues at 5p a share and 5.5p a share. TruSpine Technologies (TSP) is still waiting to receive £250,000 from Evrensel Capital Partners.
Peel Hunt has been approved as an AQSE corporate adviser.
Capital equipment manufacturer Mpac (MPAC) did better than expected last year although pre-tax profit is still likely to decline from £7.5m to £6.2m. net cash is £5m following the payment of £10m for Switchback last autumn. The order book is worth more than £55m, compared to 2020 revenues of £83m. The focus on healthcare and pharma has helped Mpac.
Judges Scientific (JDG) had a strong second half in 2020 and this has led WH Ireland to increase its 2020 pre-tax profit forecast from £12.1m to £13.5m. The 2021 figure has been maintained at £15.1m. Full year results will be announced on 23 March.
Fashion retailer Joules (JOUL) offset weak high street sales prior to Christmas with strong growth in online sales. Even so, continued uncertainty means that Peel Hunt has reduced its 2020-21 pre-tax profit forecast from £5.4m to £3.5m. Net cash is £13m.
Motor dealer Cambria Automobiles (CAMB) says trading the three months to November 2020 was ahead of the same period last year even though the market remains uncertain.
Wealth management firm Mattioli Woods (MTW) had more than £10bn of client assets by the end of November 2020. Gross discretionary assets under management are £2.9bn. Management is still seeking acquisition opportunities and there is £18m of cash in the bank.
Creo Medical (CREO) has received 510(k) clearance from the FDA for its MicroBlate soft tissue ablation devices. This broadens the range of products with approvals.
AssetCo (ASTO) has acquired a 2.9% stake in investment manager River and Mercantile at 186p a share. This cost £4.7m. There is still around £26m in cash available since the payment from Grant Thornton and after the tender offer to shareholders.
Avingtrans (AVG) is merging its two medical equipment businesses with Australia-based MRI technology developer Magnetica and it will own 59% of the enlarged business after also injecting A$600,000. A further £3.2m investment could increase the stake to 61.2%. The combined business is loss-making but the increased scale will help it to move towards profitability.
Telit Communications (TCM) has ended bid discussions with u-blox, although the potential bidder is still interested in making an offer. An all-share bid of 250p a share was indicated.
Tekmar (TGP) has secured a contract to design and manufacture subsea scour protection for a quay development project, which is worth more than £4m. That will be recognised in this financial year.
IntegraFin has decided not to bid for Nucleus Financial Group (NUC), which increased assets under administration by 8% to £17.4bn in the three months to December 2020. Inflows of funds increased, and outflows fell.
Eqtec (EQT) has signed a memorandum of understanding with Greece-based Nobilis Pro Energy, which will enable Eqtec to be involved in its partner’s pipeline of gasification projects opportunities in Thessalia and central Greece. A joint venture will be formalised.
One Heritage Group (OHG) has acquired a site on Bank Street, Sheffield for £880,000. The final development cost is expected to be £2.9m and gross development value should be £3.6m. The residential developer says that its Burnley development will not be completed until later in the first quarter. Construction of the Waterloo Place development in Salford should commence in the second quarter.
Argo Blockchain (ARB) mined 96 Bitcoin during December. The increase in the bitcoin price means that these are valued at £1.63m. Argo holds 209 Bitcoin. The sharp rise in the share price has led to the exercising of warrants and options. This has raised £1.63m.
Tirupati Graphite (TGR) is on track to commission the Vatomina graphite project in the second quarter and build production to 6,000tpa. Tirupati raised £6m at 45p a share when it floated at the end of last year and the share price has risen to 83p.
Rainbow Rare Earths (RBW) has completed its drilling programme at the Phalaborwa rare earths project under budget and the results are expected before the end of the first quarter.
Pembridge Resources (PERE) has raised £570,000 at 4p each and this should be enough cash to take the company into next year.
AQUIS STOCK EXCHANGE
Wine and beer maker Chapel Down (CDGP) made a similar interim loss this year. Wine revenues were one-fifth ahead even though sales were lost in pubs and the company’s own retail site. Online sales offset those declines. Wine stocks have increased by one-third to £11m. Beer and cider sales fell by 38% and gross profit slump by 59%. There was £5.83m in cash at the end of June 2020.
Coinsilium Group Ltd (COIN) reported an increase in interim revenues from £109,000 to £140,000. Reversal of impairments and unrealised gains helped to generate a pre-tax profit of £27,000, down from £242,000 because of lower unrealised gains. NAV was £2.52m, including cash of £129,000, at the end of June 2020. Since then, there has been an increase in the value of cryptocurrency and tokens held by the company.
Western Selection (WESP) has sold its stake in AIM-quoted Brand Architekts (BAR) and raised £1.43m at 109.78p a share. The shares were valued at £1.63m in the recent balance sheet. Peter Gyllenhammr increased his stake in Brand Architekts from 6.1% to 10.5%.
KR1 (KR1) reported an interim pre-tax profit of £522,000, including an unrealised gain of £711,000. The NAV was 6.18p a share at the end of June 2020. The latest digital asset investment is $100,000 in the Moonbeam Network project. This is a smart contract platform and KR1 will receive Glimmer tokens that will power Moonbeam’s blockchain.
Incanthera (INC) has announced positive data for a skin sensitisation study for skin cancer technology Sol. This shows it to be non-irritant. ImmuPharma has subscribed £250,000 for shares at 9.5p each. That takes the stake to 15.3%. A total of £350,000 was raised with directors subscribing for the other £100,000.
Housebuilder St Mark Homes (SMAP) has an NAV of 125p a share, compared with a share price of 87.5p (85p/90p). There was a swing from interim profit to loss.
Gunsynd (GUN) has invested £58,000 in gold explorer Angold Resources, subject to its reversal into ZTR Acquisition, which was formerly Oyster Oil and Gas, where Gunsynd already has a stake.
Property investor Ace Liberty and Stone (ALSP) has completed the £1.43m acquisition of a property in Scarborough leased to Skipton Building Society. It has exchanged contracts on a Carlisle property costing £1.71m.
NQ Minerals (NQMI) says that processing rates at the Hellyer gold mine have increased to 165 tonnes per hour. The average annualised production rate was 1.23Mtpa in July and August.
Gowin New Energy Group (GWIN) says it is near to appointing a new corporate adviser so that trading can resume in the shares. Management is working towards launching a tea business.
Primorus Investments (PRIM) has invested £1m in construction payments software company Zuuse. Thi is part of a £2.2m fundraising to pay for a transaction expected in the next few weeks. Primorus already owned shares and warrants in Zuuse, so it owns 1.7% of fully diluted share capital. Primorus has sold six million Greatland Gold (GGP) shares at an average price of 14.8p each. That leaves Primorus with 20 million Greatland shares.
Capital for Colleagues (CFCP) had an NAV of 51.53p a share at the end of May 2020.
IFA group AFH Financial (AFHP) says that business is recovering and it continues to be profitable and cash generative.
Eurocann International (BUD) is changing its name to DiscovOre (ORE) and the investing strategy broadened to include natural resources as well as cannabis-related activities.
SativaWellness Group Inc (SWEL) has been readmitted to the AQSE growth market following the reverse takeover of the company.
Avingtrans (AVG) improved its 2019-20 pre-tax profit from £5.3m to £5.9m despite loss contributions from recent acquisitions. One of those acquisitions, Booth Industries, has won a £36m doors contract for HS2. finnCap forecasts a 2020-21 pre-tax profit of £7.3m and Avingtrans is likely to reinstate the dividend.
Demand for the type of data erasure and cyber security services provided by Blancco (BLTG) remains strong, although April and May were tough. In the year to June 2020, revenues improved from £30.5m to £33.4m, helped by acquisitions. Pre-tax profit grew from £3m to £3.9m. Investec expects further profit improvement to £4.3m this year, but it will be second half weighted.
Geospatial services provider 1Spatial (SPA) reported an 8% rise in interim revenues to £11.7m, although the core business revenues made up a greater proportion of the total. There was an interim loss but positive operating cashflow of £1.7m. Net cash was £3.4m. 1Spatial could make a small full year profit.
Grant Thornton has decided to settle litigation with AssetCo (ASTO) rather than appeal the court judgement. This means that AssetCo can access the £28.6m lodged with the court plus the balance of money owed by Grant Thornton. Once this is received, AssetCo will have cash of £55m and net assets of around £52m. The market capitalisation already takes this into account.
The FDA has approved adrenal treatment Alkindi in the US and Diurnal (DNL) should receive a $2.5m milestone payment from distributor Eaton pharmaceuticals when sales start next year. That is on top of licence income. That means that Diurnal’s cash will last longer.
New Trend Lifestyle Group (NTLG) changes its name to Conduity Capital (CCAP) on 5 October. The former activities have been sold and Conduity becomes a shell.
Erris Resources (ERIS) plans to buy a 50% stake in Zinnwald lithium project owner Deutsche Lithium from Bacanora Lithium (BCN) in exchange for shares and a net profit royalty.
Yu Group (YU.) reported a decline in first half revenues from £56.6m to £45.9m due to lower energy consumption by its commercial energy customers. There was a lower loss in the period but reduced working capital requirements meant that there was a significant cash inflow from operating activities. There was £17.9m in the bank at the end of June 2020. Management has invested in marketing in order to win new business.
Intelligent Ultrasound (MED) is launching its first AI software product alongside GE Healthcare. GE has 480,000 ultrasound machines in use and the AI software will be integrated in a range of women’s health ultrasound machines. It could be rolled out across other machines in the future.
M and C Saatchi (SAA) has failed to publish its results and trading in the shares has been suspended. Windar Photonics (WHPO), Clear Leisure (CLP), Malvern International (MLVN), Tri-Star Resources (TSTR) and Hydrodec (HYR) have had share trading suspended for the same reason. The acquisition of Bristol Energy customers will boost scale and help Yu to move towards profitability.
Car finance provider S and U (SUS) generated revenues of £42.8m in the six months to July 2020. That was a 3% decline, but the effects of the Covid-19 lockdown will be greater in the second half. Net receivables were down by 6% to £281.9m, but new loan volumes fell by one-third in the first half. Bad debt provisions were increased by £13.8m to £21.7m and this led pre-tax profit to slump from £17.1m to £6.3m. The property bridging loan business made a lower profit contribution, although the market has subsequently inproved. Even so, a dividend of 22p a share was announced, down from 34p a share.
Guild Esports (GILD) raised £20m at 8p a share. The share price ended the first day of trading at 8.15p.
Mining shell Critical Metals (CRTM) joined the standard list on 29 September. The placing price was 5p and the price was 5.5p at the end of the week.
Toople (TOOP) is on course to achieve £1.6m of annualised cost savings from integrating DMSL. The focus is on margin rather than just growing revenues.
Ross Group (RGP) reported a reduced loss of £830,000, down from £3.15m, in the first half of 2020. There were no revenues, but the company is trying to build up supply chain operations.
InnovaDerma (IDP) reported full year figures in line with its trading statement in July. The skincare products supplier slumped into loss due to higher marketing costs. There was cash of £1.2m at the end of June 2020.
Newspaper publishing consolidator National World (NWOR) had £4.31m in the bank at the end of June 2020. It is still evaluating acquisition opportunities.
Renewable energy supplier Good Energy (GOOD) says that holding back on operating expenditure has offset the downturn in demand due to warmer weather. Profit will be weighted to the first half. Good is investing in electric vehicle platform Zap-Map.
Brewer Daniel Thwaites (THW) reported a more than halved pre-tax profit from £9.8m to £4.5m. Turnover improved from £92.2m to £96.9m and the profit decline was mainly due to a non-cash swing from gain to loss on swaps and a pension adjustment. Operating profit was flat at £12.9m. The Inns business improved its profit and individual pubs are making a higher profit contribution, but hotels profit declined. The total dividend was maintained at 3.36p a share. Net debt was £69.7m at the end of March 2019, while NAV was £180.7m. The pension liability has fallen from £34.9m to £24.8m.
KR1 (KR1) has sold 70,079 tokens in the Cosmos Network for $361,000. The average cost of the tokens was $0.10 each and they were sold for $5.14 each. KR1 has also generate a further 7,008 tokens from staking activities and these were sold for $6.93 each.
There was a sharp rise in the share price of TechFinancials Inc (TECH) but much of this gain was lost by the end of the week. There does not appear to be a reason for the rise. Full year results should be published this week. There will be an operating loss. There was $1.1m in the bank at the end of May 2019. The company is still waiting for approval from the Seychelles authorities for the €100,000 disposal of MarketFinancials. There will be write-downs of the value of diamond trading blockchain developer CEDEX and MarketFinancials.
EPE Special Opportunities Ltd (ESO) had a NAV of 272.02p a share at the end of May 2019. The company intends to start buying back shares and these purchases could exceed 25% of the average daily volume of ordinary shares.
Shareholders have approved the plan of Oyster Oil and Gas to distribute the shares of its main subsidiary to settle indebtedness and certain creditors. These include Gunsynd (GUN) although the exact shareholding has yet to be announced. Production sharing contracts in Madagascar and Djibouti are owned by the subsidiary. Gunsynd has raised £500,000 at 0.037p a share.
Trading in Via Developments (VIA1) debentures has recommenced following the publication of figures for 18 months to September 2018. The company has net liabilities of £329,000 with long-term debt of £5.68m offset by cash of £91,000. A subsidiary is securing debt and equity for a project that will generate management fees fir Via, but that won’t happen until September.
Clean Invest Africa (CIA) is holding a general meeting on 3 July in order to gain shareholder approval for the acquisition of the 97.5% of Coal Tech and its related business that it does not own for £27.2m in shares at 2.75p each. CoalTech transforms discarded coal into coal pellets.
Lombard Odier sold 1.65 million shares in Chapel Down Group (CDGP) at 75p a share, reducing its stake to 11.5%. Chief executive Frazer Thompson exercised 2.39 million options at 12.5p a share and finance director Richard Woodhouse exercised 200,000 options at 10p a share and all these shares were sold at 75p each.
Frontier Smart Technologies (FST) has received another bid approach. Previous potential bidder Science Group (SAG) has built up a 28.3% stake in Frontier so it is in a strong position. It says that it does not intend to sell the shares to another bidder and could block any move to cancel the AIM quotation.
Park Group (PARK) increased investment in the business last year and this knocked underlying pre-tax profit progress which was flat at £12.5m, before asset write-downs. The dividend was increased by 5% to 3.2p a share. There was a smaller contribution from Christmas savings, but growth from corporate promotions and incentives offset that. Increasingly, business is card-based. There was £36.9m of the company’s own cash at the end of March 2019. There will be a dip in profit this year due to higher overheads and profit growth should resume in 2020-21. Chief executive Ian O’Doherty has bought 30,000 shares at 69.5p each.
Stanley Gibbons (SGB) has resolved claims against former management at antique dealer Mallett and this will result in a cash inflow of £850,000 over 12 months.
Safestyle (SSTY) has acquired the freehold of a 161 bed hostel in Pisa for €3.25m. This takes the company’s portfolio to 14 hostels, including the Paris site that is under construction.
Last year was about OnTheMarket (OTMP) building up the number of agencies on its property portal and increasing the number of homebuyers looking at the properties advertised. The rival to Rightmove and Zoopla needs to convert these agencies into fee payers and that process has just started. OnTheMarket will continue to be loss-making this year with higher marketing spending likely to offset higher revenues. Cash is expected to fall from £15.7m to £6.6m at the end of January 2019.
NWF (NWF) did better than expected in the year to May 2019. The feeds business was slightly behind the previous year, but new business helped the food warehouse business to significantly improve its performance and fuels did better than expected despite the milder winter, although behind the previous year. The results will be published on 30 July.
Industrial equipment distributor HC Slingsby (SLNG) says that pressure on margin means that operating profit in the four months to April 2019 is lower, even though revenues are slightly higher. Uncertainty over Brexit is affecting levels of demand in the first half of 2019. Net debt was £1.3m at the end of May 2019.
The actuarial deficit on the Molins UK Pension Fund has been cut from £69.9m to £35.2m over a three-year period. Mpac (MPAC) believes the deficit should be eliminated by July 2024. That is based on maintained payments into the scheme.
Filta (FLTA) says that its figures will be more skewed towards the second half. This is partly down to the integration of the Watbio grease management business. There has been growth in the FiltaSeal business and the North American FiltaFry fryer management franchise business.
Avingtrans (AVG) has acquired the Booth Industries specialist door manufacturing business from the administrator of Redhall (RHL) for £1.8m in cash. Booth made a pre-tax profit of £300,000 last year.
Full year results from fasteners supplier Trifast (TRI) were slightly better than expected. Revenues were 6% ahead at £209m, while re-tax profit was a similar percentage higher at £23.5m. The dividend was increased by 10% to 4.25p a share. Trading remains tough.
Aquila Services (AQSG) has acquired education and sports consultancy Oaks Consultancy for up to £1.7m in cash and shares. In the year to March 2019, Oaks made a pre-tax profit of £254,000 on revenues of £909,000.
Bluebird Merchant Ventures Ltd (BMV) is converting $2.89m of loans into 121.5 million shares. Management made most of the loans and chief executive Colin Patterson will end up with 19.1% of Bluebird. Bluebird is debt-free.
Standard list shell Safe Harbour Holdings (SHH) lost £2.3m in 2018 due to overheads and due diligence costs. There is still £26.9m in the bank.
Marks & Spencer M&S Bad news for Waitrose, as the the bonds between the two behemoths grow ever closer. with M&S and Ocado announcing a new 50/50 joint venture which is intended to transform online grocery shopping for UK consumers.Significantly the new venture will trade as Ocado.com which must be a clear indication as to who will be holding the reins, although lip service is paid to the M&S brand and its leading food quality and innovation.Of course a major announcement like this can not come without the necessary jargon and the unintended admission. Thus the joint venture is seen as a strategically compelling route to unlock growth for M&S Food – an admission that growth in M&S Food has become blocked with the implication that it has lost its way as any Saturday afternoon shopper can tell. Steve Rowe and Ocado see it as combining the magic of two iconic and much-loved retail brands. We shall see
Taylor Wimpey TW claims 2018 as another strong year which produced record revenues, a very strong start to 2019 and continued strong demand for Wimpey homes. Profit before tax for the year to 31st December rose by 18.9% and basic earnings per share by 18.2%. A total dividend of c.£600 million will be paid in 2019, subject to shareholder approval and confirm the intention to make further material cash returns in 2020 and beyond.
Ted Baker plc TED updates that pre-tax profit for the Year to 26th January has been adversely affected by three non-cash impacts: Foreign exchange movements in the final week of the financial year, is the first. Systems upgrades have allowed the identification of additional costs which arose during the second half but will now provide robust controls to prevent a recurrence; Thirdly a more prudent view has been taken on aged stock, resulting in an unanticipated write-down in value of approximately £5m. Profit before tax is now expected to be in the region of £63m.
Avingtrans AVG Revenue from continuing operations increased from £26.9m. to £47.7m in the half year to the 30th November, whilst adjusted EBITDA from continuing operations more than tripled to £3.6m from £1.1m. Adjusted Profit Before Tax shot up to £1.6m following 2018’s half years loss of £0.1m and the interim dividend is increased by 7.7% to 1.4p per share.
Redde plc REDD Another set of good results showing further growth in earnings for the half year to the 31st December, claims the CEO, as earnings rise by 14.9% and profit before tax by 7.6%. It is anticipated that the second half will be a tougher comparison against the benefits which last years extreme weather, kindly generated for the company. The interim dividend is maintained at 5.5p per share
JD Sports Fashion JD reports total sales growth of 15% for the cumulative 48-week period to 5 January as it makes further significant progress in its international development. Gross profit margins have been maintained at last year levels. In the second half the first two stores in Thailand were opened plus the first five JD stores in the United States. Group profit before tax for the year ended 2 February will be at the upper end of published market expectations.
Page Group plc PAGE The fourth quarter Group gross profit growth of 15.4% was a record. All four regions delivered growth,with 20 countries growing by over 20% each. Gross profit before tax of 15.9% for the full year was also a record.and expected to be at the upper end of published market expectations. the UK proved a laggard but still managed to deliver a second consecutive quarter of marginal growth, up 2.1% whilst Michael Page declined by 1%, compared to Brazil and Latin America with rises of 25% and 28%. In Europe, Germany managed growth of 28%.
Dechra Pharmaceuticles DPH traded strongly during the six months to the end of December, with reported net revenue up by 18% and both Europe and North America showing identical increases. The CEO confirms that the company is contining to deliver above market revenue growth in both its existing business and in its acquisitions, in line with the Board’s expectations.
Surgical Innovations SUN enjoyed significantly stronger trading in the second half of the year to 31st December and Group revenue for the full year should represents growth of approximately 25% or £11.0m.
Avingtrans AVG has continued to perform well in the first half of the financial year and is trading in line with market expectations. The prospect pipeline for the HT businesses is robust. Recent acquisitions are also integrating well. and Brexit is Brexit is not expected to have a material impact on the company’s operations operations
Auxico Resources Canada Inc (AUAG) has added a NEX quotation to its year-old Canadian Stock Exchange listing. Auxico has mineral properties in Colombia and Mexico. There is already a UK investor base.
Chapel Down Group (CDGP) had a bumper 2018 harvest that was 125% ahead of the previous best, thanks to the hot summer. Some vineyards produced their first crops.
Ace Liberty and Stone (ALSP) is paying this year’s dividend in three instalments: October, April and July. The first interim will be 0.83p a share and the ex-dividend date is 25 October. The sale of Hume House in Leeds has been completed for £3.9m, compared to a cost of £1.67m in March 2014. A 37-storey building will be constructed on the site.
Eight Capital Partners (MORE) is investing £250,000 in AIM-quoted Imaginatik (IMTK) with £160,000 subscription for shares at 1.1p a share for a 29.7% stake, and £90,000 in convertible loan notes with an annual interest rate of 7.5%. Eight Capital is issuing up to £2.5m of convertible bonds at 95% of their nominal value. The annual coupon is 5%. One warrant will be granted for every two shares issued.
Trading in the shares of Etaireia Investments (ETIP) has been suspended ahead of a potential acquisition of property assets from the Oyston family.
Gunsynd (GUN) will get a 4% stake in Human Brands when, or if, it floats on the standard list. Previously it would have been a 1% stake. Gunsynd has £289,000 invested in drinks distributor Human Brands loan notes.
Founder Sebastian Snow has resigned as creative director of pubs and inns operator Barkby Group (BARK) and Lana Snow has also left the group. Occupancy rates were good in September and there is significant demand for the Christmas period.
Ganapati (GANP) reported a reduction in interim loss from £4.54m to £3.56m, although total income was flat at £2.19m. There was cash in the bank of £2m at the end of July 2018. This could be added to by an initial coin offering by Malta-based blockchain subsidiary GanaEightCoin Ltd next spring.
NQ Minerals (NQMI) has raised £81,250 at 15p a share to provide further working capital.
The chairman and chief executive of DXS International (DXSP) have both bought shares in the healthcare technology company. Bob Sutcliffe bought 100,000 shares at 8.515p each, while David Immelman bought 20,538 shares at 8.66p each, which takes the chief executive’s stake to 10.3%.
Sativa Investments (SATI) has signed an option on a 298,806 square foot glasshouse for growing medicinal cannabis. Mark Blower is becoming a non-executive director.
Melissa Sturgess has acquired 590,000 shares in Ananda Developments (ANA) at 0.4496p each. The executive director of the cannabis-focused investment company owns 47.8 million shares. Ananda joined NEX on 4 July having raised £930,000 at 0.45p a share. The share price ended the first day at 0.975p and it has more than halved since then.
Chris Marsh has resigned as finance director of Patisserie Holdings (CAKE) having been suspended on 9 October. Previously undisclosed LTIP share awards have been revealed.
GB Group (GBG) has acquired Australia-based ID verification services provider Vix Verify Global for £21m. This has led to a 2.7% upgrade in the 2019-20 forecast earnings per share. Third quarter trading of the existing business was in line with expectations with organic growth in revenues of 11%.
Avingtrans (AVG) is acquiring Texas-based Tecmag Inc for $243,000. Tecmag manufactures instrumentation for magnetic resonance imaging and nuclear magnetic resonance systems. This fits well with Avingtrans’ magnets business in the sector.
Energy supplier Yu Group (YU.) has shocked investors with accounting changes relating to accrued income and increases in impairment charges for trade debtors. This will slash £10m for this year’s profit turning it into a loss. There is £11.5m in the bank at the end of September 2018.
1Spatial (SPA) reduced its loss n the first half and is on course to cut its full year loss from £1.5m to £1m. The geospatial data services provider should move into profit next year.
HaloSource Corporation (HALO) says it has sufficient working capital until the end of the year, but up to $5m is required to add a further 12 months. The company expects to generate revenues of $2m-$2.5m in 2018 and the target is to treble that figure in 2019, which would reduce the loss.
EKF Diagnostics (EKF) says the record date for the distribution of shares in Renalytix AI is 23 October and the shares will start trading on 2 November.
Nexus Infrastructure (NEXS) expects 2017-18 profit to be in line with expectations and order books are strong. Infrastructure services provider Tamdown’s revenues will be slightly lower due to planning delays with the growth coming from utility connections business TriConnex. Net cash is £20m.
RA International (RAI) has won a $9.1m contract with URS Group Inc. This is a new client. The contract covers construction services for an asphalt runway in Somalia and lasts for 11 months.
Data analysis software and services provider D4T4 Solutions (D4T4) trebled its interim revenues to £14m, although the comparatives were weak. Net cash is £12.2m.
Gfinity (GFIN) is raising £6m at 8p a share and this cash will further develop the esports activities and the UK Elite series. The 2017-18 revenues were 82% ahead at £4.3m and losses continue.
Angling Direct (ANG) is taking advantage of its strong position in the fishing tackle retail market by raising £20m at 92.5p a share, which compares to the July 2017 flotation price of 64p a share. The cash will finance the opening of 20 stores and the launch of European websites. This accelerated investment means that Angling Direct will fall into loss this year.
Velocity Composites (VEL) has managed to trade in line with downgraded forecasts for the year to October 2018. Revenues will be slightly above £24m and there is net cash of £3.6m. The company is seeking a new chief executive and the former incumbent has left the board.
The cancellation of a contract and the failure to gain backing for an acquisition have hampered the progress of Image Scan Holdings (IGE) in the year to September 2018. Revenues fell from £5m to £3.5m, although the gross margin improved from 39% to 48%. Pre-exceptional profit will slump from £480,000 to £45,000. That was before the £245,000 cost of the failed acquisition. There was £780,000 in the bank at the end of September 2018. Sarah Atwell-King has been appointed finance director.
VR Education (VRE) has been hit by the delayed launch of its Titanic VR product on PlayStation. This should still happen this year, but 2018 revenues will be well below expectations. The timing of the launch will determine the outcome for the year. The ENGAGE platform will be launched before the end of the year as anticipated. Non-executive director Mike Boyce is helping out with sales.
SkinBioTherapeutics (SBTX) increased its research and development spending from £157,000 to £416,000 in the year to June 2018. The cosmetic application has started a human study and data should be available between November and April 2019. A clinical trial for an eczema treatment could start before the end of 2019. There was £3.2m in cash at the end of June 2018.
Rare books trader Scholium (SCHO) says it will move into loss in the first half, but it expects to make a higher full year profit than the £38,000 reported last year. Start-up Mayfair Philatelics is losing money but three auctions are taking place in the second half.
AfriTin Mining Ltd (ATM) is making progress towards production at its Uis tin project in Namibia. The first phase plant being constructed will be able to process 500,000 tonnes of pegmatite in order to produce 720 tonnes of tin concentrate a year. AfriTin has the cash required to reach production.
A strong performance from manned guarding meant that Croma Security Solutions (CSSG) increased its full year revenues by 59% to £35.1m and pre-tax profit was 400% higher at £2m. There were some one-off boosts during the year. Net cash was £2.1m. The dividend has been increased from 0.5p a share to 1.6p a share.
Property investment adviser First Property Group (FPO) has reduced its stake in Fprop Opportunities to 44.3% so it will no longer be consolidated in the group’s results. The plan is to lower the stake to below 30%. Fund management will be a greater contributor to profit.
More cash is required at meat and delicatessen products retailer Crawshaw (CRAW) for restructuring purposes and it also still needs a new nominated adviser.
Kemin Resources (KEM) will leave AIM on 29 October because it has not been able to find a replacement for Strand Hanson as nominated adviser. JP Jenkins Ltd will provide a trading facility.
OnTheMarket (OTMP) has signed up Belvoir Lettings (BLV) to its online platform. All Belvoir’s sales and lettings properties will be on the platform.
StatPro Group (SOG) says annualised recurring income has increased by 3% to £54.8m.
Communisis (CMS) is recommending a 71p a share cash offer by consumer communications services provider OSG, which values the target at £153.8m. The combined business would be able to develop internationally because of OSG’s global strength.
WideCells Group (WDC) has signed a partnership deal with stem cell extraction and storage company Smart Cells. The deal is with the healthcare insurance subsidiary CellPlan, whose insurance plans will be offered to Smart Cells’ 60,000 clients.
Hemogenyx Pharma (HEMO) has signed a second agreement with US biopharma company Orgenesis Inc. The deal involves the development and commercialisation of the company’s Human Postnatal Hemogenic Endothelial Cell (Hu-PHEC) technology, which could develop cancer-free, patient-matched blood stem cells after transplantation into a patient. Like the previous agreement, Orgenesis will provide a convertible loan of $1m and this can be converted into shares in the Hemogenyx subsidiary that owns the technology. Orgenesis will pay a 12% royalty on net revenues generated by the technology.
North Midland Construction (NMD) says that full year revenues will be better than anticipated at between £340m and £345m, with net margins between 1.7% to 1.8%. The order book for delivery in 2019 is £222m. A new single identity for the group will be launched in November. HR director Karen Morris has bought 8,172 shares at 550p each.
National Milk Records (NMR) is recommending a dividend of 2.5p a share after it moved from an operating loss of £11.9m to an operating profit of £1.9m in the 12 months to June 2018. If one-offs are stripped out, then the operating profit has improved from £1.1m to £1.9m. Net debt is £1.8m. There has been an improvement in the dairy market over the past year. Demand is increasing for services related to animal welfare and health, as well as for reproduction services.
Coinsilium Group Ltd (COIN) has signed a strategic partnership with Lition Technology, which is developing a new blockchain infrastructure. This will be the first blockchain with deletable data features. A Lition token sale has commenced and the funding target is $25m.
EQE Special Opportunities (ESO) has sold its investment in Process Components for £13.6m and this has added 11.16p a share to EPE’s NAV, which is 216.31p a share.
KR1 (KR1) has sold its remaining Golem tokens for nearly $134,000. They were bought for 1.3 cents each and sold for 22 cents each in less than two years. The remaining Qtum tokens have been sold for $125,000, which is equivalent to more than twenty times the price per token they were acquired for.
Botswana-focused oil and gas company Karoo Energy (KEP) is confident that it will be able to raise the cash it requires before the end of the year. Contax Partners is keen to be involved in a fundraising. There are also plans to move to AIM and gain a listing on the Botswana Stock Exchange.
Via Developments (VIA1) has completed the construction of the Napier House development in Luton and 23 of the 30 apartments have been sold. Cash of £702,000 has been received with a further £3.64m to be paid on completion. The other seven apartments are valued at £1.5m.
Anthony Carr, a new investor, has acquired 1.785 million shares in healthcare IT supplier DXS International (DXSP) at 7p each. That is a 5.07% stake. Director Bob Sutcliffe has acquired 12,960 shares at 7.88p each, which takes his shareholding to 0.96%.
IMC Exploration (IMCP) has raised £120,000 at 1.2p a share and the cash will be used to finance the companies three main projects in Ireland. New IMC chairman Eamonn O’Brien subscribed for 4.34 million shares taking his stake to 2.5%. NQ Minerals (NQMI) has raised £250,000 at 12.5p a share, while convertible loan notes worth £81,000 were converted into shares at 8p each. Imperial Minerals (IMPP) is raising up to £300,000 from an issue of unsecured convertible notes with an annual interest rate of 10%.
Gooch and Housego (GHH) says trading for the year to September 2018 was in line with guidance. The optical equipment supplier improved its undersea cable equipment revenues in the second half and the industrial sector demand was strong. Acquisitions in aerospace and life sciences will help to offset any cyclicality in the industrial sector. The order book is worth £96.1m.
Avingtrans (AVG) reported slightly better than expected figures. The engineering company has started to reap the benefits of the Hayward Tyler acquisition but there is more to come. Revenues were 247% higher at £78.9m with the acquisition helping gross margin to improve to 25.5%. The underlying pre-tax profit was £2.4m and the total dividend 3.6p a share. A £4.3m profit is forecast for this year, rising to £5.3m in 2019-20.
Telecoms sector marketing services provider Pelatro (PTRO) will offer its loyalty management solution to Telenor’s global operations. The Danateq acquisition has helped Pelatro have the chance to win this work.
Event driven marketing services provider mporium (MPM) has deployed its IMPACT sports syncing technology with two large global advertising networks. This provides access to even more brands and will help to build revenues in order to reduce the loss.
DX (Group) (DX.) reported a reduced loss in the second half but the parcel delivery firm still made a large full year loss. A £4.5m profit is forecast for next year.
Myanmar-focused social media platform operator MySQUAR Ltd (MYSQ) generated revenues of $1.84m in the year to June 2018, with gaming revenues more than offsetting a decline in advisory income. However, second half revenues were barely higher than the first half revenues. Current monthly games revenues are flat. There is $2m in the bank.
Standard list cash shell Trident Resources (TRR) started trading on 1 October after £4m had been raised at 20p a share. Trident is seeking to acquire in the mining sector. Ongoing costs are expected to be £130,000 a year with additional costs for due diligence on potential acquisitions.
Avocet Mining (AVM) says that it has enough cash for the next 12 months, as long as Elliott, which is the company’s largest shareholder, does not ask for its loans of $29.9m to be repaid. Avocet’s only asset is in the Tri-K development.
Flavour and fragrance ingredients supplier Treatt (TET) has done well enough in the second half to offset negative currency movements, so pre-tax profit for the year to September 2018 is in line with expectations. Like-for-like revenues grew by 9%. US manufacturing capacity expansion is on time and the relocation of the UK site is progressing well. The full year figures will be published on 27 November.