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Quoted Micro 15 June 2026
AQUIS STOCK EXCHANGE
Sterling Digital (ASIC) has entered a gas purchase agreement with a US supplier to power the Bitcoin mining operations in West Texas. The agreement lasts five years and includes the rights over 1.5 acres of land to establish the Bitcoin mining site. There is a minimum buying commitment of 96,360MMBtu of gas each year. Site installation works have commenced.
energy B (NRGB) is acquiring the 35% working interest in the Horse Hill oil field near Gatwick owned by UK Oil and Gas (UKOG), as well as the 77.9% shareholding in Horse Hill Developments. The combined interest in the relevant licences is 85.6%. The cost is £1m with an initial deposit of £100,000. A placing will raise £1.2m at 12p/share. This deal is part of plans to build a portfolio of oil and gas projects, as well as continuing with the wind turbine business. The Bitcoin treasury strategy has been withdrawn. David Lenigas is joining the board as executive chairman and Neil Ritson becomes chief executive.
Mendell Helium (MDH) has published updated details of its move to AIM. The move has been set for 16 June.
BWA Group (BWAP) has released results from the Aracari gold project ground magnetic survey. Major regional thrust and strike-slip faults were highlighted. A soil sampling programme has been completed.
Marula Mining (MARU) says copper sales from the Kinusi copper mine have been delayed from May to June. The Kilifi manganese processing plant postponed the initial manganese ore trial shipment due to the conflict in the Middle East. The budget for the NCLT tungsten project in South Africa has been set at $8.1m. This will be spent in two phases over 14 months. The first phase costs $2m.
Capital for Colleagues (CFCP) investee company Morris Commercial has unveiled the pre-production Morris-JE electric van. There is a path to pilot production in 2027 and commercial scale production the following year.
Wishbone Gold (WSBN) has completed 14 holes of the 25 hole drilling programme at the Red Setter project in Western Australia. Samples are being sent to Perth and results are expected at the end of July.
Ormonde Mining (ORM) investee company TRU Precious Metals has commenced a field works programme at the Golden Rose project in Newfoundland.
Falconedge (EDGE) has generated an income of 0.1766 Bitcoin during May. It holds 20.6736 Bitcoin.
Ethtry (ETHY) bought 75 Ethereum at £1,250 each for a total cost of £93,750. The company owns 1,000 Ethereum.
Unicorn Asset Management has reduced its stake in Incanthera (INC) from 9.47% to 8.61%.
Sebastian Marr and family have taken a 16.1% stake in Vaultz Capital (V3TC). Regent Resources Capital Corp owns 17.6%. Bryan Reid has sold his 7.28% shareholding.
Mark Barry has taken a 3.6% stake in Vault Ventures (VULT).
ASSET MATCH
Broker Direct (BRKD) fell into loss in 2025. The company stopped distributing EDI products to brokers and it launched new products for its clients. Revenues declined from £18m to £14.5m. There was a swing from a pre-tax profit of £368,000 to a loss of £1.85m. Cash was £11.5m at the end of 2025.
Marshall of Cambridge (MCH) has announced more details of the sale all its property holdings in Cambridge, including Cambridge Airport, to The Hill Group and Homes England. The gross purchase price is £200m before costs and tax. There is potential for further payments if the development outperforms expectations. This enables the company to focus on the aerospace business, although there are plans to sell this. Equity Development estimates a mid-point NAV of 324p/share.
VP Fintech Group (VPF) plans to acquire GlblNexus Inc. The Wyoming-based company is developing a crypto-to-crypto payment gateway designed to for digital asset payments, settlements, and blockchain-based transaction processing. The cost is currently confidential.
AIM
Marketing services provider Silver Bullet Data Services (SBDS) is asking for shareholder approval for a departure from AIM. It argues that the weak financial markets mean that the company is undervalued and hampers its ability to raise money. This will also save £500,000 each year. A general meeting will be held on 25 June. A matched bargains facility operated by JP Jenkins will operate for at least 12 months.
Virgin Wines (VINO) says full year revenues are 4% ahead even though the wine retail market is down by one-fifth. The fourth quarter was slightly weaker than expected. Higher rent costs and lower interest income have led to an increase in forecast 2025-26 loss to £1.5m. Warehousing is being consolidated in Preston. Cavendish expects a lower loss in 2026-27 and forecast net cash of £4m at the end of June 2027 should be the low point.
Genetic testing developer GENinCODE (GENI) reported 14% growth in 2025 revenues to £3.1m, but investment in preparation of growth in the US and other markets meant that the loss increased. There was a £4.12m cash outflow from operating activities during the year. Earlier this year, £4.3m net was raised at 1p/share, so there is enough cash to take the business into 2027. This year the new manufacturing and distribution deal with Thermo Fisher will start to make a contribution and an FDA submission for the CARDIO inCode-Score test assessing coronary genetic risk is expected in the third quarter. If things go to plan approval could be received by the end of 2026. Updated guidelines for this type of test were announced in March, and they should provide additional momentum for sales. This year Spain will continue to be the main generator of revenues, but GENinCODE is laying the foundations for additional growth in other markets next year. Ian Amiee, Daryl Amiee and Doolittle SSAS account Amiee has acquired a 3.06% stake.
Professional project services provider Diales (DIAL) management says the company’s turnaround is complete with legacy issues sorted out and selective hiring will help to maintain growth. Europe and North America were the main engine of growth in the first half. Interim revenues were 10% ahead at £23.7m and pre-tax profit improved from £700,000 to £1m, even after a £500,000 impairment charge. The gross profit margin rose from 26% to 29%. Utilisation levels dipped from 71.4% to 70.2%, although there was improved utilisation in Asia Pacific which moved back into profit on lower revenues. Revenues and profit were lower in the Middle East. Net cash was £3.9m at the end of March 2026. Full year pre-tax profit is expected to improve from £1.4m to £1.5m reflecting caution concerning global uncertainty.
Pri0R1Ty Intelligence (PR1) generated revenues of £174,000 in the year to September 2025 and the underlying loss was £3.3m. Cash was £796,000 at the end of September 2025. So far this year contracted revenues are more than £400,000. Prior to the results announcement the company announced an unsecured convertible loan note of £1.25m, and an At-The-Market facility will enable repayment of the convertible through share issues. The cash will provide working capital.
Capital machinery supplier Mpac (MPAC) is selling its subsidiary Lambert and trading remains tough. Lambert produced specialist packaging lines and differed from the rest of the business which supplies more standardised capital equipment. Lambert lost money last year, but it is expected to return to profit in 2026. Italy-based Mech.i. Tronic is paying an initial £16m for Lambert with up to £4m more depending on performance in 2026. This deal is part of the reason behind a sharp cut in the 2026 pre-tax profit forecast, but there are also tough trading conditions putting pressure on margins.
Shares in skin treatments developer SkinBioTherapeutics (SBTX) returned from suspension after the restated annual results and the most recent interims were published following an investigation in the financial affairs of the business. Royalty revenues of £770,000 were inappropriately recognised in 2024-25 due to fabricated documentation. That and the timing of bonuses hit past profit. Bonuses paid to Martin Hunt and Dr Cathy Prescott have subsequently been repaid. Interim revenues improved from £1.58m to £2.17m, while the loss was reduced from £1.04m to £794,000, but that was due to a £250,000 write back of contingent consideration.
Podcast platform operator Audioboom (BOOM) has concluded its strategic review. There were three potential bidders, but they were deemed to be undervaluing the business. First quarter revenues were a record and a 2026 pre-tax profit of $6.5m is forecast.
Atome Energy (ATOM) says that a presidential decree relating to the fixed price power purchase agreement with ANDE in Paraguay has been revoked. This means that there is uncertainty about the electricity tariffs for the Viletta fertiliser production project.
Medpal AI (MPAL) says that the UK regulatory approval of the first oral GLP-1 receptor agonist tablet developed by Novo Nordisk has come earlier than expected and this will provide a boost for the company’s New Health weight management clinic. It broadens the potential market.
Mindflair (MFAI) says CameraMatics, an investee company of Sure Valley Ventures, is raising up to €49m and Sure Valley Ventures first fund is realising part of its investment. This means that Mindflair, which invests in the fund, will receive a share of €280,000 in cash and will have a €320,000 working capital facility repaid. It also owns 24.4% of Sure Ventures plc which will receive €880,000.
Thor Energy (THR) has achieved impressive results from the phase 2 soil-air geochemistry survey at the HY-Range project, where it has a 80.2% interest, in South Australia. Peak natural hydrogen recorded was 0.3%, which is much higher than previous readings and the normal background levels. Exploration targets are being identified. Detail will be added by a 2D seismic survey.
Corporate finance business Marechale Capital (MAC) has obtained FCA approval for the acquisition of Stanford Capital Partners.
Great Western Mining Corporation (GWMO) shares will start trading on the US OTCQB market today and they should be attractive to US investors because of the mining assets in Nevada.
MAIN MARKET
Ground engineering and piling business Keller (KLR) has won an order for the I-40 highway in the US. This valued at $207m, taking the total work on the highway to $380m, of which $70m has been completed. The total order book is worth £1.9bn.
Seraphim Space Investment Trust (SSIT) has made another large book gain on a mature investment. ICEYE is valued at more than €10bn following the latest fundraising. Based on this the value of the holding has more than doubled to £202m. The increase is equivalent to 73p/share.
Cindrigo Holdings (CINH) has completed subsurface analysis and reservoir modelling for the Eich Hamm geothermal licence area. The estimated exploitable energy is 50% higher at 157.8MW, plus 7,230 tonnes per annum of lithium carbonate equivalent could be produced.
Neo Energy Metals (NEO) has suspended finance director De Wet Schutte after a misconduct allegation, although it does not relate to financials.
Andrew Hore
Quoted Micro 23 March 2026
AQUIS STOCK EXCHANGE
Brewer Shepherd Neame (SHEP) reported flat interim revenues and pre-tax profit of £84.7m and £4.2m respectively. Net debt is £84.7m and a £1m share buyback is planned. The dividend has been raised 3% to 4.5p/share. NAV is 1234p/share. Pubs traded strongly and that offset lower brewing volumes, which fell 6.6% representing a slowdown in the rate of decline. Over 37 weeks the like-for-like growth in retail pub sales it 4.4%, while tenanted pubs are 3% ahead over 35 weeks. Panmure Liberum forecasts a full year pre-tax profit of £7.7m, rising to £8.4m next year.
Stack BTC (STAK) raised £1.9m at 10p/share, including £94,700 from a retail offer. The cash will be used to fund acquisitions and purchase of Bitcoin. AlbR has been appointed as joint corporate broker.
Biotech company Cardiogeni (CGNI) has agreed a deal where Kira Health Invest AG will acquire 67.5% of subsidiary Cell Therapy in return for a 32.5% shareholding in Kira’s hotels and wellness clinics subsidiary Lumen Clinics, which has assets of more than €100m. Kira will make available to Cell Therapy up to $25m to fund the cost of achieving market approval for heart failure medicine CLXR-001. This will fund a phase 2b clinical study and provide enough cash for three years. This funding would be difficult to obtain in current stockmarkets.
S-Ventures (SVEN) is raising up to £2m at 3.5p/share and invest in HDL, a drone technology business. HDL is developing hybrid unmanned aerial vehicles and intends to raise cash from investors to finance progress. S-Ventures will invest up to £1.5m and could take a board position.
Marula Mining (MARU) says assay results from the Kilifi manganese processing plant indicate the potential for a significant manganese grade uplift from processing from four areas.
Investors were disappointed with drilling news from Wishbone Gold (WSBN) concerning Red Setter project in Western Australia, which is near to the Telfer mine.
BWA Holdings (BWAP) had a cash outflow from operations of £99,500 in the six months to December 2025. There was £47,666 in cash at the end of 2025.
Patrick Chophard and Oliver Murphy have stepped down from the Ethtry (ETHY) board and Steve Winfield has returned as an executive director. Ethtry says it plans to “concentrate on building a scalable platform at the intersection of digital infrastructure and next-generation computing, with particular emphasis on opportunities across data centre infrastructure, artificial intelligence and emerging quantum technologies”. There is also an Ethereum treasury policy.
B HODL (HODL) has bought one Bitcoin for £53,363. The total holding is 163.487 Bitcoin at an average cost of £82,319 each.
Coinsilium (COIN) has completed a strategic investment in Singapore-based Predictive Labs. It spent $150,000 for a 5.52% stake and Coinsilium could subscribed for shares to increase it to 16.3%. Additional options could take the stake to 29.85%.
Sulnox Group (SNOX) says results of an independent laboratory evaluation of Sulnox Eco™ confirmed full compatibility across all fuels tested and showed performance benefits.
Zentra Group (ZNT) has earned a £350,000 fee for the sale of the One Heritage Tower site. The residential developer has entered into a relationship agreement with majority shareholder GKU.
IntelliAM (INT) has appointed Cavendish as corporate adviser and broker.
TechFinancials (TECH) is changing its name to Ubuntu Mining and Metals Inc.
Hot Rocks Investments (HRIP) has reduced its stake in Mendell Helium (MDH) from 6.5% to 4.69%. Mustapha and Maya El Khalil have a 7.46% shareholding in Ace Liberty and Stone (ALSP).
Ajax Resources (AJAX) chief executive Ippolito Ingo Cattaneo bought 123,840 shares at 7.25p each and Richard Heyward acquired 33,172 shares at 7.536p each. BWA (BWAP) non-exec John Byfield bought 2.22 million shares at 0.225p each. VSA Capital (VSA) finance director Galin Ganchev bought an initial 32,833 shares at 3p each. Equipmake (EQIP) chairman Tim Metcalfe bought 682,730 shares at 1.245p each.
AIM
River Global (RVRG) plans to sell the asset management business it has built up to fully listed Liontrust Asset Management (LIO). The initial consideration will be £7.6m in Liontrust shares, followed by up to £2.1m shares depending on certain revenues being achieved. The deal will also release capital from the business. The Liontrust shares will be distributed to A share holders. The B shares are unaffected. The remaining interest will be a structured 30% interest in Parmenion, which is a high growth investment platform. Shareholders and the FCA have to approve the deal.
Pawnbroker Ramsdens Holdings (RFX) has published a second update in two months and it has sparked another forecast increase. Full year pre-tax profit is expected to be £24m, compared with £21.1m previously. Precious metals buying continues to boom with a 50% increase in volumes. Jewellery retail is 25% ahead, while pawnbroking is at record levels and forex is in line with expectations.
Africa-focused oil and gas company Afentra (AET), along with Sonangol and Etablissements Maurel & Prom S.A., is jointly acquiring Etu Energias’ 10% stake in block 3/05 and 13.33% stake in block 3/05A in Angola. Afentra will buy 3.33% and 3.66% of these bocks respectively. This will cost $15.2m, plus contingent consideration of up to $6.74m. The effective date of the transaction will be the end of 2023. Afentra has also launched a strategic review following bid approaches.
Retailer TheWorks.co.uk (WRKS) is closing its online channel and moving to a non-transactional website. Online is making a small and reducing contribution to revenues. There will be exceptional costs of £2m. There are plans to open more stores. Like-for-like growth has been 3.3% this year and the company expects to meet market EBITDA expectations of £11m, or £13.5m for continuing activities. Without the online loss, 2026-27 EBITDA has been upgraded from £12.7m to £15m.
Franchised lettings and property sales business The Property Franchise Group (LSE: TPFG) is well positioned for the Renters Rights bill coming into effect. In 2025, revenues were one-quarter higher at £84.3m. Organic growth was 9%. Underlying pre-tax profit improved from £22.3m to £31m, which was better than expected. Earnings jumped from 29.1p/share to 36.5p/share. Net debt has fallen to £2.3m and there will be net cash by the end of 2026.
Diagnostics developer and manufacturer Abingdon Health (ABDX) is benefiting from strong contract development revenues. Interim revenues were 44% higher at £4.5m. the loss was reduced from £2.6m to £2.3m. Capacity is being increased in North America, and this is helping to win new contracts. The full year loss is expected to fall from £3.2m to £1.7m.
Gaming technology and displays supplier Nexteq (NXQ) is diversifying its customer base and this helped when its major customer got taken over. Revenues improved 4% to $90.2m in 2025, while pre-tax profit fell by one-quarter to $3.6m. A further decline to $2m is expected this year, although the $25m cash pile could be used to acquire a business to boost profitability.
Payment services provider Boku (BOKU) increased 2025 revenues by 30% to $128.8m with the main growth coming from digital wallets and bundling. Active users are 31% higher at 114.4 million. Operating profit trebled to £18.9m. The company’s cash increased to £102.9m. The momentum is continuing. Boku intends to repurchase up to 4 million shares. Former boss Jon Prideaux is stepping down from the board.
Chemotherapy drugs developer CRISM Therapeutics (CRTX) has gained orphan drug designation from the US FDA for irinotecan for the treatment of malignant glioma. This utilises the company’s ChemoSeed technology, which is an implantable, biodegradable technology designed for the localised and sustained delivery of chemotherapy directly into cancer tissue. The orphan drug status will enhance the profile of the commercial development programme.
Strategic Minerals (SML) is raising £4.7m at 3.5p/share. A prominent international investor approached the company. The cash will be spent on the Redmoor Tungsten-Tin-Copper project in Cornwall. Following the fundraising, there was news concerning improvements in tungsten and silver recovery. Tungsten recovery is 85.8% and silver recovery is 58.7%. This will boost the forthcoming mineral resource estimate.
Cyber security services and software provider Shearwater Group (SWG) has grown interim revenues by 31% to £14m, but there was a loss. Contracts are being renewed and there is a good base for the second half. Net cash was £2.2m. Full year revenues are set to rise from £31.6m to £35.5m, and pre-tax profit is expected to be £1.1m.
Digital loyalty and promotions platform operator Eagle Eye (EYE) had a good first half and annualised recurring revenues were 3% ahead at £42.2m despite the loss of a major contract. There was a sharp decline in profit, but cash generated covered capital investment. The second half should mark the bottom for Eagle Eye before a strong bounce back next year. Pre-tax profit could slump to £900,000 this year before rebounding to £3m next year.
Retail software provider itim Group (ITIM) says 2025 revenues will be below 2024 levels at around £17.5m due to delays in contract wins. Former AIM-quoted retailer Quiz went into administration and that has increased the expected loss to £500,000. Cost savings could help itim breakeven in 2026 on limited growth in revenues.
Virgin Wines (VINO) is starting to see the benefits of its new strategy. There was a 40% increase in customers acquired in the first half and the new mobile app is yet to be fully launched. Interim revenues were 2% higher at £34.7m in a deteriorating market and growth has accelerated in the pre-Christmas period and accelerated further in January and February. Investment in the strategy led to a swing from profit to loss. Share buybacks continue.
Market research services provider Systems1 (SYS1) is trading in line with expectations and strong momentum has enabled a forecast upgrade for 2026-27. There have also been cost reductions. The current year forecast is maintained at £2.1m, down from £5.2m. A pre-tax profit of £4.5m is expected for 2026-27, up from £2.7m previously, based on unchanged revenues of £39.1m.
CPPGroup (CPP) says it has been told that it will not receive any of the potential $5m deferred consideration for its former business in India. CPPGroup is considering its options, but if it does not receive any cash it will have to raise funding within 12 months.
Concierge technology platform provider Ten Lifestyle (TENG) has increased first half EBITDA by 16% to £1m despite unfavourable foreign exchange movements. Active members are 23% higher at 436,000. Net cash is £9.3m.
Logistics Development Group (LDG) says 50.7%-owned WS Holdco has acquired transport and logistics business EV Cargo Solutions and Distribution. The combined business will have annual sales of more than £300m.
MAIN MARKET
Foam manufacturer Zotefoams (ZTF) is making strong progress and produced record results in 2025. Pre-tax profit improved from £15.6m to £21.2m. The OKC acquisition made a small initial contribution. There was growth in Europe and North America. Footwear volumes were strong, but they are expected to ease back this year. Transport and smart technologies provide growth potential. Aerospace volumes have been recovering. Construction has been weak but there is potential for recovery.
Panther Metals (PALM) has announced two batches of assay results for the Winston tailings project. The first results showed good grade consistency and were better than the preliminary results published last year. The second assay results also showed better results than the preliminary results.
New Frontier Minerals (NFM) intends to accelerate activities at the NWQ copper project, including the Big One copper deposit where a mining lease is in the process of being obtained. There is a strong working capital position of A$2.62m with potential funding from grants and R&D rebates.
Singer Capital has initiated research on digital assets investor KR1 (KR1). The focus is increasing income to help the company to be self-funding and increasing exposure to Digital Asset Financial Infrastructure It set a 12-month target share price of 25p.
Nanoco (NANO) has entered a binding term sheet with Shoei to stay ongoing litigation with no compensation payable by either party. They will not sue each other for use of their respective quantum dot patents. A definitive agreement will be negotiated.
Taylor Maritime (TMIP) returned $143.4m to shareholders in February and plans to return at least $30m in the third quarter. Details should be published at the end of April. There will still be a regular quarterly dividend of 2 cents/share. The sale of a vessel raised $17m. The managed realisation of assets will continue.
Andrew Hore
Andrew Hore – Quoted Micro 10 May 2021
AQUIS STOCK EXCHANGE
Virgata has published its offer document for the 50p a share bid for Walls & Futures REIT (WAFR) and the first acceptance date is 27 May. Walls & Future REIT management are still arguing that the bid is too low because it is at less than 50% of NAV. Virgata points out that shareholders would not be able to sell their shares in the market for anywhere near NAV and that costs, including director pay, exceed income. Liquidity is certainly and that means that it has been difficult to raise cash to scale up the business.
Samarkand (SMK) is making its first acquisition following its admission to the Aquis Apex segment. The cross-border trading group is paying £2.41m in cash and shares (at 139.67p each) for Zita West Products and 51% of Babawest, where a further £400,000 will be loaned. Zita West Products supplies nutritional supplements for fertility and pregnancy, and it has worked with Samarkand for more than three years. Babawest supplies nutritional products for mothers and babies. In the year to September 2020, Zita West Products made an adjusted pre-tax profit of £241,000 on revenues of £854,000. Interim revenues were 60% ahead at £636,000. Samarkand can use its ecommerce technology and contacts in China to grow sales.
Third quarter revenues dipped at National Milk Records (NMRP), but like-for-like revenues were 1% greater at £5.42m. That excludes the former heat detection operations. The growth has come from newer areas, such as Johne’s and surveillance testing. There was a small decline in milk recording revenues, but they are recovering and the next quarter comparisons will not be as strong.
British Virgin Islands-based technology-focused shell Boanerges Ltd plans to float on 17 May. It appears that the share issue will be relatively small because Richard Griffiths will have his stake diluted from 75% to 71.7%. Internet of Things, big data and telematics are some of the areas where the directors are seeking acquisitions.
Rutherford Health (RUTH) is drawing down £15m from its infrastructure investment facility, which means that all £40m will have been drawn down. This will be invested in the company’s cancer treatment facilities.
Sativa Wellness (SWEL) increased 2020 revenues by 38% to £1.99m. Transaction costs increased the loss from £3.8m to £4.8m. There are 30 wellness clinics in operation, and they are adding to the range of tests on top of the Covid-19 tests. The benefits of CBD products launched last year should show through in 2021.
URA Holdings has distributed its shares in Ananda Developments (ANA) to its own shareholders. This has increased the stakes of directors Charles Morgan (to 8.65%), Melissa Sturgess (to 13.2%) and Peter Redmond (to 1.47%).
Western Selection (WESP) has increased its stake in electrical and gas services provider Bilby (BILB) from 11.93% to 12.18%. This was before the trading statement that revealed that Bilby generated 2020-21 revenues of £60m and EBITDA of £3m. Net debt was £2.7m at the end of March 2021, prior to commencing paying £1m of VAT liabilities. The full yar results will be published in early July.
Christopher Potts has taken a 5.94% stake in DiscovOre (ORE).
Newbury Racecourse (NYR) non-executive director Bryan Burrough has acquired 8,600 shares at 737.5p each.
S-Ventures (SVEN) has raised £3m at 15p a share and every two shares will be issued a warrant exercisable at 25p. Chief executive Scott Livingston invested £500,000 in the placing and his stake is 49.1%. Vulcan Industries (VULC) has raised nearly £75,000 at 3.2p a share.
AIM
Virgin Wines (VINO) says that sales and profit are ahead of expectations in the year to June 2021. Liberum had forecast revenues of £70.3m, up from £56.5m last year, and the outcome is expected to be at least £73m. The easing of lockdowns could hamper growth, but the expanded customer base will help Virgin to continue to grow.
Bars operator Nightcap (NGHT) is making its first acquisition since joining AIM. Nightcap is paying £2.5m for Adventure Bars Group with £1m in shares being paid initially and up to £1.5m (at the same share price) dependent on performance in the two years from 1 July 2021. The cost is much higher than that because the acquisition comes with around £4.3m of borrowings, of which between £1.28m and £1.78m will be repaid and a £110,000 convertible (at 21p a share) issued to the lender. Nightcap is trying to raise a further £4m.
IPTV technology developer Mirada (MIRA) says trading was in line with expectations in the year to March 2020. That means that revenues were around £12m and the loss was around £3m. Trading improved during the second half and revenues were higher than in the first half. New opportunities mean that Mirada should improve its performance this year. Demand is building up in Asia.
A positive trading statement by concrete levelling equipment supplier Somero Enterprises (SOM) has led to a 15% upgrade in forecasts earnings to 39.9 cents a share. That has led to an increase in the expected dividend to 27.9 cents a share. Trading has been strong in the US, while Europe and Australia are recovering.
Coral Products (CRU) is paying an interim dividend 0.5p a share and the ex-dividend date is 13 May. Coral is selling the Haydock facility for £3.5m, but has to spend £650,000 on the roof before the sale is completed. Book value is £2.5m. Coral will lose the £300,000 a year of rental income.
Appreciate Group (APP) says 2020-21 figures are in line with expectations. Even so, the underlying pre-tax profit of the financial services and savings business has been slightly upgraded by Edison. The pre-tax profit is still likely to slump from £11.4m to £4.5m, before recovering to £7.2m in 2021-22. Digital sales are becoming increasingly important.
Trinity Exploration and Production (TRIN) has acquired a 100% interest in the PS-4 lease block, onshore Trinidad, for $3.5m. Average daily production was 83 barrels during 2020.
Software company WANdisco (WAND) increased its loss in 2020-21, but it is expected to fall sharply this year. That is because revenues are forecast to jump from $10.5m to $37m. WANdisco could even move into profit next year. The LIVEdata software is thought to be the only credible petabyte data analysis product capable of migrating data to the cloud on the market.
One Media IP Group (OMIP) has acquired the writer’s share of producer royalties, which covers more than 250 tracks by Kid Creole and the Coconuts. This deal has been done through Harmony IP, which gives artists the chance to access future income by selling a portion of their rights. This high profile deal could attract other artists to the Harmony IP proposition.
Initial drilling results from the Hamersley iron project owned by Alien Metals (UFO) shows new iron ore zone targets in the Hancock area of the project. The interpretation work outlines much larger target areas. Results from 36 more drill holes are due later this month.
Bacanora Lithium (BCN) says that there has been a 67.5p a share cash bid approach from Ganfeng International Trading. The bid is near to the share price high at the beginning of the year, which was the highest it has been for nearly three years. Ganfeng owns 50% of the Sonora lithium project and already holds 28.9% of Bacanora.
Anglo African Oil & Gas (AAOG) has lost its AIM quotation because it has failed to acquire a new business. It has entered into an option to acquire a 25% interest in the Saltfleetby gas field in east Lincolnshire for £8m in shares. The deal is dependent on at least £1m being raised and the shares becoming quoted on a recognised market.
Nu-Oil and Gas (NUOG) has left AIM, but it continues to make progress with the acquisition of Guardian Maritime. The cash generative business sells a retro-fitted system for ships that stops pirates boarding vessels. This deal should enable the shares to be admitted to the standard list by the end of June.
MAIN MARKET
Standard list shell East Star Resources (EST) commenced trading on 4 May, and it is seeking resources opportunities. The shell raised £1.73m net of expenses at 5p a share. The existing shares were previously issued at 1p each. The share price ended the week at 6.25p.
Tirupati Graphite (TGR) has developed a graphene-aluminium composite. This has conductivity properties comparable to copper. Tirupati is talking with potential customers who would want to replace copper because of the composite’s lower weight. Power and propulsion systems are one area where there is interest.
Cardiff Property (CDFF) has increased the interim dividend from 4.8p a share to 5p a share. There was a dip in pre-tax profit from £387.000 to £365,000, but there was a lower tax charge. The Thames Valley property markets has shown signs of slowing down and rental income will be lower this year. The current share price is 1850p, compared with a NAV of 2445p a share – although there is a potential tax liability on any disposal of the investment in Campmoss of 265p a share.
MGC Pharmaceuticals (MXC) says pre-clinical and clinical results for ArtemiC Rescue, which targets viral infections with inflammatory complications, has demonstrated an ability to decrease the markers of inflammation. Phase II clinical trials showed that the treatment could hasten recovery in Covid-19 patients with mild to moderate illness, which should offset the problem of long Covid.
CBD products supplier Zoetic International (ZOE) is raising £6m at 60p each and this will be used to terminate the financing agreement with LDA Capital. That will cost £1.2m and the rest will go on the US rollout of Chill products and launching new products.
Andrew Hore
Andrew Hore – Quoted Micro 8 March 2021
AQUIS STOCK EXCHANGE
Installation services provider and engineer Field Systems Designs Holdings (FSD) reported a dip in interim revenues due to Covid-19 and lack of work in the water sector. In the six months to November 2020, revenues halved from £11.5m to £5.7m and the loss increased to £209,000. Net assets improved from £3.87m to £3.93m with cash increasing from £4.34m to £5.6m. There are signs of water projects being announced.
Gunsynd (GUN) says its investee company Rogue Baron should join the Access segment on around 12 March. Gunsynd will own 28.48% of the drinks company and retain £111,000 of convertible loan notes.
Forbes Ventures (FOR) says that a £40m tranche of two-year notes is expected to take place in Malta in the middle of March. A further £60m should be listed within two months of the first tranche. A subsidiary of Forbes will receive a one-off fee of 2% of the funds raised.
Capital for Colleagues (CFCP) had net assets of 57.96p a share at the end of February 2021. There was cash of £2.68m. It has subsequently sold the investment in Anthesis Consulting for £1.15m. This was previously valued at £705,000.
Upper Thames Holdings (UPPT) is changing its name to Valereum Blockchain. The company has initiated the launch of the first series of securitised derivative tokens on a regulated cryptocurrency exchange, which should happen within two months. This will enable trading in currency and other products.
KR1 (KR1) has raised nearly $256,000 by selling tokens in Stake DAO. KR1 still has the rights to more than 700,000 SDT tokens and these will vest over 23 months. KR1 has spent $75,000 of the cash on a stake in LazyLedger Labs.
Exploration by Wishbone Gold (WSBN) has identified high grade silver and base metals potential at the Cottesloe project in Patersons Range Western Australia.
Coinsilium Group Ltd (COIN) is linking with 10%-owned Indorse to launch a Non-Fungible Token development studio in Gibraltar.
Quetzal Capital (WENP) has appointed Peterhouse as corporate adviser and raised £432,000 at 0.7p a share. Chris Akers will own a 9.4% stake.
Block Commodities (BLCC) has appointed First Sentinel as corporate adviser and trading in the share has recommenced. Altona Rare Earths (ANR) has appointed Optiva Securities as broker, and it hopes to move to the standard list in the second quarter.
World High Life has changed its name to Love Hemp Group (LIFE). It has appointed Hannam and Partners as financial advisor. Chris Cleverly and Elias Pungong have left the board.
AIM
Coral Products (CRU) has completed the sale of two plastic mouldings businesses and acquired Customised Packaging for £1.25m in cash and shares issued at 11p each. If 2021 profit is greater than £250,000 the vendors will receive 30% of the excess profit (capped at £250,000). Customised Packaging generated revenues of £2.3m in 2020. The Manchester-based business designs plastic products using sheet extrusion technology and vacuum forming capability. WH Ireland has been appointed as nominated adviser and broker.
Interims from parcel and freight delivery company DX (LSE:DX.) showed a 7% rise in revenues to £182.7m with strong growth in freight offsetting a fall in the express division. That enabled DX to move from loss to a pre-tax profit of £3.8m. New depots are being opened because of the demand for the company’s services, while the document exchange business is being revamped. Non-executive director Paul Goodson has acquired 176,810 shares at an average price of 28.25p.
In 2020, Franchise Brands (FRAN) improved pre-tax profit from £4.07m to £4.84m, helped by a full contribution from Willow Pumps. The dividend was increased from 0.95p a share to 1.1p a share. Income returned to growth in the fourth quarter and there has been a good start to 2021. That sparked a forecast upgrade for pre-tax profit to £6.1m.
The bid for AFH Financial (AFHP) has been increased from 463p a share to 480p a share.
BlueRock Diamonds (BRD) has raised £1.5m at 40p a share. This cash will be used to complete the weather delayed installation of the new processing plant at the Kareevlei diamond mine so that annual production can be raised to one million tonnes. There have been 29 production days lost to rain. The first two diamond tenders of 2021 have achieved an average diamond price of $423/carat, which is higher than the average price assumed for the full year.
Maestrano (MNO) has taken advantage of its strong share price to raise £2m at 13p a share. This will help to grow revenues of the Corridor.ai digital surveying platform for the rail sector. There is still manual rail survey business that can be done digitally.
In 2020, the revenues of MTI Wireless Edge (MWE) rose by 2% to $40.9m, while pre-tax profit jumped from $3.41m to $4.06m. The net cash position was better than expected at $9.44m. The dividend has been increased by one-quarter to 2.5 cents a share. The antennas business is winning larger 5G orders and the electronic components division is converting design wins into production orders.
Virgin Wines (VINO) ended the week at 225.5p a share, having floated at 197p a share.
Prospex Energy (PXEN) has completed the purchase of a 49.9% stake in the El Romeral gas and power operation in Spain. There is potential to increase production from the three producing gas wells and this could also help increase the amount of electricity generated from the 8.1MW power station, which is running well below capacity. An offshore gas well should start production later this year.
Safestay (SSTY) has sold the smallest of its three hostels in Barcelona for the book value of €900,000. Safestay is due to the final consideration of €1.18m for one of the other Barcelona hostels.
MAIN MARKET
Caerus Mineral is acquiring New Cyprus Copper and joining the standard list. A placing has raised £2.25m at 10p. There is a portfolio of exploration licences in Cyprus. There is potential for near-term mining of resources on closed copper mines and extensions of existing orebodies.
Argo Blockchain (ARB) says from this month chief executive Peter Wall will be paid in Bitcoin and other employees will be given the chance to follow suit. Argo held 599 Bitcoin at the end of February, having mined 129 (equivalent to £4.34m) during the month.
Emmerson (EML) plans to switch from the standard list to AIM ahead of the commencement of construction of its mine at the Khemisset potash project.
HeiQ (HEIQ) is acquiring 51% of Chrisal NV, a profitable industrial biotechnology company that has developed a symbiotic interior cleaner called Synbio with enhanced cleaning performance.
Castillo Copper (CCZ) expects the modelling of a JORC resource for the Big One deposit should be completed shortly. Drilling will resume when the wet season ends.
Boston International Holdings (BIH) is not going ahead with the reverse takeover of invoice factor Alexanders Discount. The shares remain suspended.
Starcrest Education The Belt and Road (OBOR) says that the purchase of 60% of The London School of Science and Technology is unlikely to happen before June.
Andrew Hore