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BATM Advanced Communications #BVC – Result of General Meeting

 

BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces that at the general meeting of the Group held today, the resolution was duly passed.

 

Details of the proxy voting results, which should be read alongside the Notice of General Meeting, are below:

 

Resolution

Votes for

Votes against

Votes withheld

Total proxy votes

No. of

votes

% of votes cast*

No. of votes

% of votes cast*

No. of votes

1

276,069,541

97.26

7,751,047

2.73

23,401

283,843,989

(There were no discretionary votes cast)

* Excludes withheld votes

 

 

Enquiries:

 

BATM Advanced Communications

Dr Zvi Marom, Chief Executive Officer

+972 9866 2525 

Moti Nagar, Chief Financial Officer

Shore Capital

Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)

 

+44 20 7408 4050 

Luther Pendragon

Harry Chathli, Claire Norbury

+44 20 7618 9100

 

Quoted Micro 7 March 2022

AQUIS STOCK EXCHANGE

Field Systems Designs Holdings (FSD) reported a sharply increased loss in the six months to November 2021. There were unpaid debts of £300,000 due to the financial failure of NMCN. The overall loss increased from £267,000 to £1.52m on revenues that fell from £5.75m to £2.64m. The pandemic hit trading and the AMP7 spending by water companies has yet to ramp up. This is required to be done by 2025. The order book is worth £7m.

A general meeting has been requisitioned at CBD products supplier Love Hemp (LIFE) by a shareholder owning more than 5% of the company and it will be held on 1 April. The requisitioner wants Andrew Male to be removed as chairman and the directors’ salaries slashed by 75%. They also want a strategic review of the company and a review of the financials, pus a halt to marketing spending.

Quantum Exponential (QBIT) has made its first investment. It has invested £300,000 out of a £470,000 fundraising by Siloton, a company that uses quantum techniques and photonic integrated circuits in sub-surface optical scanning devices used in healthcare and testing. The initial use is to monitor age-related macular degeneration. Quantum Exponential holds a 12.8% stake.

Gunsynd (GUN) is changing its investing policy. The sports sector has been added to the resources, life sciences and alcoholic beverages sectors. The rest of the policy is unchanged. The shareholders will vote on this change at the AGM.

Apollon Formularies (APOL) has signed a joint venture agreement with South Africa-based medical cannabis company Tri-Media Canna. Apollon will own 49% and receive a gross royalty on sales of its products in South Africa. There will also be opportunities for clinical trials for cancer treatments in South Africa. Tri-Media Canna is investing £150,000 in Apollon at 2.5p a share and will invest a further £150,000 in the future when the agreement is finalised.

Newbury Racecourse (NYR) has received the final payment of £10.7m for the land sold to David Wilson Homes. The cash will be used to pay down borrowings.

In the year to August 2021, Wheelsure Holdings (WHLP) reported a reduction in revenues from £233,000 to £144,000. The loss increased from £203,000 to £224,000.

KR1 (KR1) has invested $7m in Zee Prime II as part of a $35m fundraising.

Tectonic Gold (TTAU) has received a A$289,000 cash rebate from the Australian tax authorities. There will be a further claim for work in the second half of 2021.

Vulcan Industries (VULC) has raised £256,500 from a placing.

Trading in Early Equity (EEQP) shares has been suspended.

AIM

Battery metals producer Neometals already had an ASX listing prior to joining AIM, which management hopes will raise the company’s profile in UK and Europe. This was an introduction, so no new money was raised, although the expenses were £1.53m. The introduction price was 70p and it has risen to 85.5p. Perth-based Neometals has 13 subsidiaries, two joint ventures and one associate business. There is a lithium-ion battery recycling joint venture with SMS Group called Primobius. This will use the company’s own lithium-ion battery recycling technology. There are also two potential opportunities in Finland and Sweden for vanadium recovery projects. Neometals has a 70% stake in Reed Advanced Materials, which has developed the ELi lithium process. This reduces the requirement for reagents and is at semi-pilot testing stage.

The core software products sold by GetBusy (GETB) continue to grow sales and have excellent retention rates. Newer products, such as Certified Vault and Workiro are still at the early stages of building their customer bases, but they provide cross-selling opportunities to existing clients. GetBusy continues to lose money even though revenues grew from £14.2m to £15.4m. Annual recurring revenues are £15.8m. Net cash was £2.67m at the end of 2021.

Cloud-based secure payment technology provider PCI-Pal (PCIP) continues to win business even though the patent infringement dispute with Semafone continues. Total annual contract value is £11.4m. The company remains loss making, although the loss is falling, but the cash raised last year means that this is not a concern. Offices have been opened in Canada ad Australia.

Following FCA approval, Fletcher King (FLK) has completed the placing £547,000 at 52.5p a share. Elliott Bernard has a 29.99% stake and David Gibbs and Matthew Wise have been appointed to the board on his behalf.

MAIN MARKET

BATM (BVC) grew strongly last year, and both the biomedical and network and cyber divisions have much further to go. The biomedical division benefited from continued demand for Covid-19 testing, but other diagnostic tests also increased sales. There are new products that will enhance that growth. BATM is starting to win contracts for its Edgility edge computing and network function visualisation product. Group revenues were $140m in 2021 and they could rise to $157.9m this year. Pre-tax profit was boosted by one-off gains in 2021. A 2022 pre-tax profit of $12.7m is forecast with a jump to $20.1m anticipated in 2023 when the significant investment made by BATM really starts to pay off.

Hamak Gold (HAMA) is a Liberia-focused gold explorer with two gold prospects. Liberia is apparently an underexplored and underdeveloped area in sub-Saharan Africa. There are already two significant gold projects in Liberia that are near to the company’s prospects. Hamak raised £955,000 at 10p a share. The £706,000 raised after expenses will finance the initial exploration.

More Acquisitions (TMOR) is a new cash shell that intends to make acquisitions in the energy transition sector. The placing raised £1.25m at 1p each. More Acquisitions has issued all shares at the same price and there was a cap on expenses. This means that the underlying NAV is 0.96p a share. The share price ended the first day at 1.15p (1p/1.3p). The cash could be supplemented by up to £3.8m if all the warrants in issue are exercised.

URA Holdings (URAH) has returned to the London market after more than three years but this time it is the standard list and not AIM. The cash shell has secured the acquisition of Malaika Developments, which has exploration interests in Zambia. URA issued 60 million shares to acquire the company and raised £1.05m at 2p a share. The share price opened at 2.5p and closed at the end of the week at 2.25p.

Alkemy Capital Investments (ALK) has been readmitted to the standard list after it set up a new subsidiary to potentially supply lithium hydroxide monohydrate to battery manufacturers. The new plant could be set up at Teesside in the freeport. The board is assessing the prospects for the project and a feasibility study should be delivered at the end of March. The shares were readmitted at 100p, but the bid/offer spread is 75p/125p.

In the year to September 2021, telecoms services provider Toople (TOOP) reported a reduction in revenues from £3.44m to £3.01m, although gross profit increased. That was still not enough to cover overheads. There was a £835,000 cash outflow from operating opportunities. There was £282,000 in cash, offset by debt of £1.69m. However, £380,000 was raised at 0.045p a share after the year end.

Pineapple Power Corporation (PNPL) is not going ahead with the proposed acquisition of cleantech investment company BVP Investments because they could not agree on the valuation.

Oxford Cannabinoid Technologies (OCTP) says it has the support of 46.5% of shareholders but the requisitioner of the general meeting wants it to go ahead. The meeting is likely to be held on 6 April.

Andrew Hore

BATM Advanced Communications #BVC – Founder and CEO Dr Zvi Marom talks to Alan Green

London and Tel Aviv listed BATM Advanced Communications is a leading provider of real-time technologies for networking solutions and bio-medical systems, with a raft of tier 1 clients spanning the globe. Both Bio Medical and Networking & Cyber divisions have grown rapidly thanks to strong intellectual property backed by strong patents.

The company has just announced an impressive set of FY results, with a huge 339% jump in operating profits, group revenues up 18% from ongoing operations and group cash and assets up 27% to $67.8m. Founder and CEO Dr Zvi Marom talks to Alan Green about the group progress to date, the results, the FTSE Russell Nationality review and upcoming value inflection points.

#BVC BATM Advanced Communication – Full year Results

BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces its preliminary results for the year ended 31 December 2021. 

Financial Summary

 

$m

2021

2020

Change

Results from ongoing operations (adjusted)*

Revenue

132.8

112.6

+1 8.0 %

Gross profit

50.2

41.0

+22.5%

Gross margin

37.8%

36.4%

+140bps

Operating profit

11. 3

2.6

+339.5%

EBITDA

15.7

6.6

+138.8%

Reported results

Revenue

140.0

183.6

(23.7%)

Gross profit

51.1

60.7

(15.9%)

Gross margin

36.5%

33.1%

+340bps

Operating profit

24. 4

14.2

+71.3%

EBITDA

29.6

19.7

+50.4%

Cash from operations

8.7

20.1

(56.8%)

Basic earnings per share (cents)

3.26¢

2.22¢

+46.8%

Cash and financial assets

67.8

53.4

+26.9%

* Adjusted to present the results on an ongoing operations basis by excluding (1) the contribution to both years from NGSoft, a subsidiary that the Group sold in March 2021, (2) the contribution to 2020 from a significant contract for the supply of ventilators, which was exceptional in nature, and (3) the amortisation of intangible assets for both years. The term ‘ongoing operations’ in this announcement is used for comparative purposes only and is not used in the same context as in accounting standards. For further information see Note 3 – Other alternative measures.

Operational Summary

Bio-Medical Division (84% of total revenue from ongoing operations)

· Revenue from ongoing operations ( excluding the contribution to 2020 from an exceptional ventilator contract) increased by 17.7% to $112.0m (2020: $95.2m), reflecting growth in all units

· Diagnostics Unit – revenue +38%

Significant sales growth driven by strong global demand for COVID-19 test kits (reagents) and diagnostic instruments and supported by increased sales of products in other disease areas

Expanded COVID-19 diagnostics portfolio with launch of new solutions, including a test that uses self-collected saliva samples and the RAPiDgen® SARS-CoV-2 Ag test for at-home use

PCR and iso-thermal method being developed by the Group for the rapid and comprehensive diagnosis of tuberculosis received the backing of the Stop TB Partnership, an international alliance

· Eco-Med Unit – revenue +37% (excl. contribution from exceptional ventilator contract)

Returned to underlying growth with delivery resuming on contracts for the installation of the Group’s ISS-based pathogenic waste treatment solution

Progress made in projects with Ceva Animal Health and a Taiwanese agri-food conglomerate

Awarded a contract for its agri-waste treatment solution by a cattle facility in Botswana – the Group’s first contract for its agri-waste solution in Africa

· Distribution Unit – revenue +9%

Increased revenue driven by the distribution of several molecular tests and of COVID-19 diagnostic reagents and equipment

Networking and Cyber Division (16% of total revenue from ongoing operations)

· Revenue from ongoing operations (which excludes the contribution from NGSoft to both years) increased by 19.5% to $20.7m (2020: $17.3m) , reflecting underlying growth in both the Networking and Cyber units  

· Networking Unit – revenue +13% (excl. contribution from NGSoft)

Launched Edgility, an ecosystem of networking products and services for edge computing based on the Group’s network function virtualisation (“NFV”) technology

§ Won two edge computing contracts expected to be worth an aggregate of $2.7m over a multi-year period, which commenced generating revenue post year end

§ Successful proof-of-concepts conducted with several potential customers and partners worldwide, which the Group expects will translate to orders in 2022

§ Established four new partnerships, including one post period, to boost Edgility sales and market presence through the offering of joint solutions

§ Expanded addressable market with enhancement of Edgility OS to enable use for public cloud environments

Network Edge (Carrier Ethernet)

§ Resumption of normal business practices resulted in an increase in revenue during the year and a substantial increase in backlog, which is for delivery in 2022

§ Awarded a contract from a new tier 1 telecommunications operator customer in APAC, which contributed significantly to the unit’s growth

· Cyber Unit – revenue +111%

Awarded over $18m in cyber security contracts from a long-standing government defence department customer

Delivery of these orders commenced during the year and will continue in 2022 and 2023

The contracts include a $10m multi-year contract for the delivery of an advanced network security solution containing elements of NFV protection

Commenting on the results, Dr Zvi Marom, Chief Executive Officer of BATM, said: We are delighted to be announcing another excellent set of results with growth from ongoing operations in all of our business units. We are particularly proud of the significant progress made in our Diagnostics unit, where our investment in recent years has really come to fruition, and of the substantial contracts awarded during the year in our cyber business. We were also excited to launch our Edgility platform for edge computing and virtual networking, which we believe will be a key driver of our future growth.  

“Looking ahead, we entered the new year with sustained momentum across the business and we remain on track to deliver significant growth for full year 2022, in line with market expectations. We have established solid foundations in core technologies that are now at an inflexion point of becoming market disrupters. We will continue to cultivate growth and development across our business as well as pursue opportunities to accelerate the realisation of the value of the IP within our different units through strategic transactions. We have an exciting future ahead of us and we look forward to reporting on our progress and delivering value for our shareholders.  

Enquiries:

BATM Advanced Communications

Dr Zvi Marom, Chief Executive Officer

+972 9866 2525 

Moti Nagar, Chief Financial Officer

Shore Capital

Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)

+44 20 7408 4050 

Henry Willcocks (Corporate Broking)

Luther Pendragon

Harry Chathli, Claire Norbury

+44 20 7618 9100

 

Alan Green covers Conroy Gold #CGNR and BATM Advanced Communications #BVC on this week’s Stockbox Research Talks

Alan Green covers Conroy Gold #CGNR and BATM Advanced Communications #BVC on this week’s Stockbox Research Talks

BATM Advanced Communications #BVC – Strategic Partnership for Edgility with Advantech

BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces that its Telco Systems subsidiary has partnered with Advantech (TWSE: 2395), a global leader in industrial IoT, to provide the Group’s Edgility virtual networking and edge compute operating system pre-installed on a variety of Advantech’s universal edge network appliances.

The partnership provides a further route-to-market for the Group’s Edgility solution, and a competitive advantage for the Group in targeting Advantech’s customer base as well as for both companies targeting new customers for the joint solution. Purchasers of an Advantech universal edge network appliance will contract directly with BATM to use the Edgility solution. 

By bringing together BATM’s software with Advantech’s hardware, enterprise and service provider, customers can benefit from simpler and streamlined deployment, management and orchestration of networked devices and applications, whilst being cost-effective. The pre-installed offering also provides a wide range of preconfigured solutions optimised to support maximum functionality at the edge.

Edgility is BATM’s operating system for the creation of virtual networks and Edge Computing, which is a requirement for IoT, 5G and enterprise applications. The Group’s Telco Systems subsidiary, which offers Edgility, has recently been named as one of the 100 edge companies to watch in 2022 by STL Partners, a UK-based telecoms research and consulting firm. Find out more here.   

Dr Zvi Marom , CEO of BATM, said: “We are delighted to be partnering with Advantech to provide our Edgility solution pre-installed on their network appliances, which will enable easier and faster adoption by customers. It reflects the strength of our offering in the rapidly growing Edge Computing market, which will enable Advantech to differentiate their products. With annual revenue of over US$1.7bn and selling globally from offices in over 20 countries, Advantech is a strong partner, and this collaboration enhances our competitive position and offers a further route-to-market. This is also a further example of our growth strategy across our business to accelerate the adoption of our solutions via collaborations with established partners. We look forward to working with Advantech and to continuing to expand our partner base.”

Enquiries:

 

BATM Advanced Communications

Dr Zvi Marom, Chief Executive Officer

+972 9866 2525

Moti Nagar, Chief Financial Officer

Luther Pendragon

Harry Chathli, Claire Norbury

+44 20 7618 9100

About Advantech

Founded in 1983, Advantech is a leading provider of trusted and innovative products, services, and solutions. Advantech offers comprehensive system integration, hardware, software, customer-centric design services, embedded systems, automation products, and global logistics support. We cooperate closely with our partners to provide complete solutions for a wide range of applications in diverse industries. Advantech’s mission is to enable an intelligent planet by developing automated and embedded computing products and solutions that facilitate smarter working and living. With Advantech products, the application and innovation potential becomes unlimited. (Corporate website:  www.advantech.com ) 

Forward-looking statements   

This document contains forward-looking statements. Those statements reflect the current opinions, evaluations and estimations of the Group’s management, and are based on the current data regarding the Group’s business as is detailed in this document and in the Group’s periodical, interim and immediate reports. The Group does not undertake any obligation or make any representation that actual results and events will be in line with those statements, and stresses that they may differ materially from those statements, due to changes in the Group’s business, market, competition, demand for the Group’s products or services, general economic factors or other factors that can influence the Group’s business and results, and due to information and factors that are currently unknown to the Group’s management and that, if known, would affect the management’s opinions, evaluations or estimations. The Group will report the actual results and events according to its legal, accounting and regulatory obligations, and does not undertake any other obligation to report them or their deviations from the forward-looking statements, or to update any of the forward-looking statements in this document or to report that it is not valid anymore.

Quoted Micro 21 February 2022

AQUIS STOCK EXCHANGE

National Milk Records (NMRP) improved interim revenues by 6% to £11.4m, while pre-tax profit increased by 53% to £750,000. There was a £1m cash inflow from operations. Net debt was £1.1m at the end of December 2021. Genomics testing revenues were 17% higher. The interim dividend has been raised from 1.25p a share to 1.5p a share. Milk prices are strong, but costs are increasing.

Grid storage technology developer Invinity Energy Systems (IES) plans to gain a quotation on Aquis, while retaining its AIM quotation. This is so that it can also obtain an Aquis Access quotation for its warrants, which were issued in a fundraising at the end of last year. The short-term warrants are exercisable at 150p a share up until 15 September. The long-term warrants are exercisable at 225p a share up until 16 December 2024. The current share price is 77p.

Natural foods company S-Ventures (SVEN) has acquired the business of Livia’s Health Foods, which makes plant-based food treats. This includes Million Squares, Nugglets and Dunx. S-Ventures is paying £350,000 in cash and shares. The business has been loss making and generated revenues of £1.3m in the 12 months to January 2022. If revenues exceed £600,000 in the 10 months after acquisition than a further £100,000 is payable. VSA forecasts S-Ventures 2022 EBITDA of £1.8m.

Goodbody Health inc (GDBY) is launching blood testing through itkino, nbi, fire, shnj, coin, s network of clinics. More pharmacies are being added to the network. Covid tests are running at more than 500 a day even though UK testing requirements have been eased. The first clinic has been opened in Vancouver, Canada. Arden is forecasting a 2022 pre-tax profit of £5.1m, but this could depend on whether the level of Covid testing continues at these levels.

ChallengerX (CXS) has appointed John May as non-exec chairman and Brian Connell will take over as chief executive. Management is trying to unfreeze cash held in the accounts of its French subsidiary and says that they were mistakenly frozen after the former chief executive was arrested. There is still £550,000 of cash available for use by the company.

Western Selection (WESP) increased net assets to 68p a share at the end of 2021 thanks to gains on disposals and an uplift in the remaining stakes in Kinovo (KINO) and Northbridge Industrial Services (NBI). Net debt was £674,000 at the end of December 2021. There is no dividend.

IamFire (FIRE) has subscribed for a further £2m of convertible loan notes in WeShop. The conversion price is 75p a share. The beta version of the WeShop platform is on course.

Rogue Baron (SHNJ) is launching its Shinju whisky in the UK. This will be the first market with an 8-year old version of the whisky.

Coinsilium Group Ltd (COIN) is advising fashion brand Blvck Paris for the launch of the Blvck Genesis NFT collection.

Hydrogen Utopia International (HUI) says that talks with Mitsubishi Heavy Industries concerning the potential development of plastic waste to hydrogen facilities in Japan have ended.

SuperSeed Capital (WWW) managing director Mads Jensen has bought shares, while related party Capex Ventures sold 50,000 shares at 100p each, taking his interest to 81.9%. The shareholding of Anne Mette Horneman increased from 4.25% to 6.75%.

AIM

Franchise Brands (FRAN) has launched a recommended all share bid for kitchen services provider Filta Holdings (FLTA). The offer is 1.157 shares for each Filta share. Management and related parties own the majority of Filta. Shareholders owning more than 81% of Filta are backing the bid. Filta boss Jason Sayers will continue to run Filta, which provides cooking oil filtration and drain management services to restaurants and other venues in the UK and North America. Metro Rod, Metro Plumb and Willow Pumps are already owned by Franchise Brands and these services can be offered to Filta’s customer base in the UK.

Shield Therapeutics (STX) got off to a slow start with its Ferracu iron deficiency treatment launch in the US. Total 2021 revenues, including European income, were £1.5m. Forecasts are all over the place. The statement was in line with Peel Hunt’s forecast but well below the finnCap estimate. The 2022 revenues forecasts are the other way around with Peel Hunt (£27.9m) being much more optimistic than finnCap (£9.9m). They agree Shield will continue to lose money, though. This shows that management does not have any real idea what is going to happen, or it could have provided better guidance. Hopefully, there shall be better information when the full year results are published.

Circle Property (CRC) is selling one of its main properties and plans to return cash to shareholders. Circle Property is selling Kents Hill Park Conference Centre to LXI REIT for £34.5m – 1.5% ahead of book value. There are plans to sell other properties.

Domain name and online marketing services provider CentralNic (CNIC) is doing much better than initial expectations in 2022. Online marketing services is where the growth is coming from. Broker Zeus has upgraded its 2022 pre-tax profit forecast from $37.2m to $39m. CentralNic is acquiring Fireball Search and the .ruhr top level domain, which has around 10,000 domain registrations, for €600,000 in cash. A maiden dividend is likely to be announced with the 2021 figures.

Cloud-based conferencing services provider LoopUp (LOOP) says the 2021 trading outcome was in line with previously downgraded expectations, but lack of cash could become a problem. Last year’s revenues were £19.5m, down from £50.2m in 2020, which was a bumper year. It is also well below the £42.5m generated in 2019. The loss is expected to be more than £10m in 2021 and 2022. Net debt was £2.5m at the end of 2021 and it is forecast to rise to £5.7m at the end of 2022.

SkinBioTerapeutics (SBTX) is still optimistic about the prospects for the AxisBiotix-Ps food supplement treatment for psoriasis, but the second phase of the launch, which has just commenced, will be an important indicator of success. The first significant revenues will be in the second half of the year to June 2022. The SkinBiotix cosmetic ingredient is ready to be mass produced by Croda, which is talking to potential cosmetics customers.

Frontier IP (FIPP) has raised a further £3.2m from the sale of ADSs in AI-based drug discovery company Exscientia compared with a book value of £1.75m. Froniter IP has raised £6.1m in total and retains 1.17 million ADSs.

Ariana Resources (AAU) will pay a special dividend of 0.175p a share on 25 March with another payment of the same amount due later this year. Ariana says that drilling at the Kilrou deposit in Cyprus has confirmed the existence of gold at the site, as well as copper and zinc.

MAIN MARKET

Antimicrobial and textile odour control materials developer HeiQ (HEIQ) has secured a development partnership with Hugo Boss for HeiQ AeoniQ, a high-performance yarn. Hugo Boss is investing $5m in a subsidiary that holds the technology, which values that company at $200m. AeoniQ is designed as a sustainable alternative to oil-based nylon and polyester, which take up to 1,000 years to degrade and generate $135bn a year in fibre sales. HeiQ AeoniQ yarns are made from cellulosic biopolymers. The LYCRA Company will become the exclusive distributor of HeiQ AeoniQ yarns, and it will also make a financial contribution. The first product should be available in the second half of 2022.

Standard listed shell CYBA (CYBA) has agreed the acquisition of Narf Industries, which is a cyber security business, for $26.5m in cash and shares issued at 2p each. A placing will raise £6m at 2p a share. In 2020, Narf revenues were $2.78m and in the first half of 2021 they were $1.05m. SaaS subscriptions are generating an increasing proportion of revenues. Further acquisitions are planned.

BATM Advanced (BVC) says that its 2021 pre-tax profit figures will be slightly higher than expectations of $23m. The figures will be announced on 28 February.

Cizzle Biotechnology (CIZ) has agreed to acquire a 5% economic interest in AZD1656, a potential treatment for patients with Covid-19. This agreement was made with Conduit Pharmaceuticals and St George Street Capital and is in addition to previous agreements. Conduit has taken a 8.98% stake in Cizzle as part of the deal.

Studio Retail (STU) intends to appoint administrators.

Cash shell MAC Alpha Ltd (MACA) had £700,000 in cash at the end of 2021. Net assets are £369,000.

Andrew Hore

#BVC BATM Advanced Comms – Trading Update and Notice of Results

BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, gives notice that the Group will be announcing its results for the year ended 31 December 2021 on Monday 28 February 2022. 

The Group is delighted to announce that it expects to report full year revenue and EBITDA for 2021 slightly ahead of market expectations (which were raised during the year on 23 August 2021) reflecting strong growth from ongoing operations* with increased revenue in both divisions. In particular, this has been driven by significant growth in the Group’s Diagnostics unit of the Bio-Medical division.

Looking ahead, the Group entered the new year with a substantially higher backlog from ongoing operations than at the same point of the prior year and the strong momentum of 2021 has continued. Accordingly, the Group remains on track to deliver significant growth for full year 2022 in line with market expectations.  

Further detail will be provided in the Group’s full year results announcement on 28 February 2022.

Presentations to analysts and investors

Dr Zvi Marom, Chief Executive Officer, and Moti Nagar, Chief Financial Officer, will be holding presentations in London on the day of the results for:

· analysts at 9.00am GMT; and for

· private shareholders at 5.30pm GMT.

To register to attend either presentation, please contact laraapstein@luther.co.uk . 

* Excluding the contribution to 2021 and 2020 from NGSoft, a non-core subsidiary that the Group sold in March 2021, and the contribution to 2020 from a significant contract to supply critical care ventilators, which was exceptional in nature. 

Enquiries:

 

BATM Advanced Communications

Dr Zvi Marom, Chief Executive Officer

+972 9866 2525 

Moti Nagar, Chief Financial Officer

Shore Capital

Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)

 

+44 20 7408 4050 

Luther Pendragon

Harry Chathli, Claire Norbury

+44 20 7618 9100

Quoted Micro 29 November 2021

AQUIS STOCK EXCHANGE

Good Energy (GOOD) is selling its 47.5MW of renewable generation capacity and then reinvest the cash. The portfolio is valued at £56.8m, with £39.1m of related debt, and could be sold in the first quarter of 2022. Good Energy is investing in the latest funding round for Zap Map and the disposal cash may be received at around the same time. The company is investing in its decentralised energy services platform, and this will be rolled out next year. There will be further investments in these areas. Competition has fallen away in the domestic energy supply market and management believes that more normal conditions could return next spring. There will be £2.5m of additional costs to cope with the knock-on effect of higher prices and the exit of rivals. There is still a possibility of achieving full year expectations.

Oberon Investments (OBE) nearly trebled revenues in the first half with the growth coming from the broking business. In the six months to September 2021, revenues improved from £1.2m to £3.4m, while funds under management were £765m at the end of the period. Investment management fees doubled, but corporate finance income jumped from £89,000 to £1.56m. Oberon moved from a loss of £514,000 to a pre-tax profit of £128,000. New product launches should enhance growth in funds under management, while the broking side remains busy.

Non-fungible tokens (NFTs) investor NFT Investments (NFT) is investing $250,000 in Afterparty Inc, a platform where creators generate revenues from music events. This was set up by former Disney executive David Fields.

Eastinco Mining and Exploration (EM.P) plans to acquire battery metals explorer Aterian Resources and move to the standard list. There will be a ten-for-one share consolidation and the company’s name will change to Aterian. AIM-quoted Altus Strategies (ALS) will become a major shareholder. A fundraising has raised £850,000 from convertible loans and £100,000 from shares at 1.5p each, which is the conversion price of the convertible loans. Aterian Resources has a portfolio of 15 exploration projects.

Investment company Gunsynd (GUN) had net assets of £6.3m, including £1.07m of cash, at the end of July 2021. Investee company Low6 still intends to float.

KR1 (KR1) has contributed 350,000 Polkadot tokens to the Acala Network auction. It already has more than 10.2 million Acala tokens and more will be received after 96 weeks, when the Polkadot tokens will be returned. A further 350,000 Polkadot tokens were contributed in the auction of smart contract platform Moonbeam Network. Again, these will be locked up for 96 weeks and a undecided number of Moonbeam tokens will also be received.

Newly crowned Aquis company of the year DXS International (DXSP) reported a small dip in interim revenues from £1.72m to £1.62m, while pre-tax profit fell from £151,000 to £21,000. The second half is expected to be stronger, although additional costs will hold back profit. The healthcare IT provider continues to develop its cloud-based product and it is accelerating the development of products aimed at long-term conditions, such as diabetes.

Rogue Baron (SHNJ) is closing its Bin 1301 bar in Washington DC and concentrate on the bigger De Rhum Spot site.

Pioneer Media Holdings (PNER) is planning to acquire NGMI Labs Inc in return for four million shares. Pioneer has 45 days to undertake due diligence. NGMI was founded by three people with significant experience in the decentralised autonomous organisation (DAO) tokens sector.

Tectonic Gold (TTAU) expects to receive a tax rebate of $275,000 by the year end.

Yooma Wellness Inc (YOOM) has persuaded ASDA to stock 17 of its Vitality CBD products.

Scott Livingston has taken a 5.54%, not 5.16%, stake in Silverwood Brands (SLWD).

AIM

Marshall Motor Holdings (MMH) says that 64.4% shareholder Marshalls of Cambridge is thinking about selling its stake. Constellation Automotive has made it clear that it is interested.

Alien Metals (UFO) has acquired 30% of the Munni Munni project in Western Australia from ASX-listed Platina Resources for A$2.23m in shares and cash. This is one of the largest platinum group resources in Australia and it is near to the Elizabeth Hill project, which has platinum, silver, copper and nickel potential. Munni Munni has a historic non-compliant JORC resource estimate that suggests that there is 1.14 million ounces of palladium, 830,000 ounces of platinum, 152,000 ounces of gold and 76,000 ounces of rhodium. Artemis Resources owns the other 70%.

Telecoms billing and customer relationship management software provider Cerillion (CER) more than doubled its full year pre-tax profit from £3.7m to £8.5m, helped by much higher software revenues. New orders are building up and the order book is at record levels. The dividend was raised from 5.5p a share to 7.1p a share.

Driving safety technology developer Seeing Machines (SEE) has won its largest ever driver monitoring systems (DMS) order and raised £30.4m at 11p a share on the back of this announcement. The cash will be used for technology development and boost sales resources. The DMS deal, which has come through Magna International, is worth A$120m. In the year to June 2021, revenues improved from A$39.9m to $46.6m, while the loss was substantially reduced to A$16.7m.

Credit hire and legal services firm Anexo (ANX) has won a new contract with MCE Insurance to provide claims services for non-fault motorcycle accidents, which tends to be higher margin business. This will boost market share.

Appreciate (APPS) made the expected, although lower, loss in the first half, but the 50% increase in the interim dividend to 0.6p a share suggests confidence in the future. Revenues were 50% ahead at £41m with the faster growth coming in the consumer business even though the Christmas savings order book is lower. Appreciate has withdrawn from lower margin corporate business and there is volatility in bookings in recent months.

Asset management services provider MJ Hudson (MJH) achieved organic revenue growth of 14% and it is on course to grow full year revenues from £25.5m to £31m, helped by acquisitions, which would produce a pre-tax profit of £4m. Demand for ESG services is growing rapidly. On top of that, there is increasing outsourcing of the services provided by MJ Hudson.

Ashtead Technology (AT.) provides services and rents equipment to the offshore oil and gas and offshore wind markets. Services can be provided for installation, ongoing maintenance and decommissioning. It raised £15.5m at 162p a share to help it to grow internationally. The offshore wind services market is set to grow at 19% a year up until 2025. The shares ended the week at 162p.

Eneraqua Technologies (ETP) is well positioned to take advantage of the increasing focus on energy and water efficiency. It raised £12m at 277p a share and the shares ended the week at 285p. Eneraqua Technologies supplies and installs technology that improves energy and water efficiency in multiple occupancy social housing and commercial projects. The systems installed include the company’s Control Flow HL2024 technology, which will be manufactured in Spain. The order book for between August 2021 and January 2022 includes £22m of contracted revenues and there a further £21.3m of contracted revenues for the following two years.

Brickability (BRCK) is paying an initial £3.3m for HBS NE, which takes it into the renewable energy products market. It supplies and maintains solar, battery storage and electric vehicle charging. Brickability has relationships with housebuilders, which are being required to install EV charging points in new homes. Even before cross-selling, the deal is earnings enhancing.

Cyber security services provider Shearwater (SWG) reported a small decline in interim revenues due to lower services sales. Software revenues were flat, but margins improved. There is 50% visibility for second quarter revenues.

Treated sustainable wood producer Accsys Technologies (AXS) increased interim revenues by 31% in the first half. Accoya production remains limited because the new reactor will not go into service until next year. The Hull Tricoya plant will should commence production next July. The plans for the potential US Accoya plant are also progressing with a final investment decision expected in the next few months.

Omega Diagnostics (ODX) grew its health and nutrition revenues to pre-pandemic levels. Sales of the global health division also grew but Covid-19 test sales were disappointing. DAM Health has ordered £750,000 of tests since the end of the half year. Net cash was £3.9m at the end of September 2021. Omega remains loss making, and it is difficult to predict how quickly revenues will grow. There are some orders coming in for the VISITECT CD4 test.

Workflow technology provider ActiveOps (AOM) has improved gross margin and interim revenues grew by one-fifth. Annual recurring revenues are running at £19.8m.

MAIN MARKET

Packaging manufacturer and distributor Macfarlane (MACF) is trading ahead of expectations. Revenues are 25% higher than last year and the pre-tax profit is ahead of 2020. There are cost pressures and some customers have had supply problems elsewhere so their demand for packaging has reduced. Net debt was £2m at the end of October 2021.

BATM Advanced Communications (BVC) has announced a dividend of 0.74p a share.

JLEN Environmental (JLEN) is targeting a dividend of 6.8p a share in the year to March 2022. The interim dividend is more than covered by earnings. The portfolio of renewable energy and environmental assets has been diversified in recent years and that means that the company is not as dependent on revenues from wind power, which were hampered by low wind speeds in the period. Other assets performed well and there are plenty of investment opportunities in Europe. NAV is 98.4p a share.

Marine technology developer OTAQ (OTAQ) has secured a multi-year contract with Minnowtech. It will supply sonar technology for the jointly developed shrimp farming technology. Commercial launch is planned in Asia and the initial order will be more than $200,000. OTAQ owns 15.2% of Minnowtech. A major customer has given notice and OTAQ is seeking additional sources of funding.

Oxford Cannabinoid Technologies (OCTP) has signed an agreement with Dalriada Drug Discovery Inc of Canada, which will provide research and development services on compounds that Oxford Cannabinoid has access to via the Canopy Growth Corporation agreement.

Andrew Hore

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