News blog

AIM 50 Digest 19 May 2023

BY: Andrew Hore |
POSTED: 21/05/2023 |

IQE (IQE) raised £30m at 20p a share via placing and a retail offer brought in a further £1.1m. The semiconductor wafers manufacturer is also trying to raise up to £3m more from a REX retail offer that closes at 5pm today. In 2022, group revenues grew by 9% to £167.5m, while the loss jumped from £22.2m to £75.4m. That includes £68.5m of impairment charges, up from £7.4m the previous year. Costs are being reduced and the cash will provide working capital and fund development spending on newer markets, such as power electronics and MicroLED display.
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CentralNic (CNIC) increased first quarter revenues to $194.9m, which is an organic growth rate of 46%. A partnership with Bing should provide further growth later this year.
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Engineering services provider Renew Holdings (RNWH) raised interim revenues by 14% to £471.8m, while earnings were 5% ahead at 27.4p a share. The interim dividend is 6% higher at 6p a share. The group order book is worth £890m.
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Keywords Solutions (KWS) is acquiring US-based Hardsuit Labs, which offers video games development services. Last year’s revenues were $11m and the maximum consideration is $15m, with $6.75m based on growth targets over two years. The company’s chairman Ross Graham died earlier this month.
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Gamma Communications (GAMA) continues to grow in all three business areas and trading is in line with expectations. A new product focused on smaller businesses will help to convert legacy public switched telephone network data and voice services to up dated technology.
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Pantheon Resources (PANR) has raised $22m at 17p a share. This will fund the flow testing of the Alkaid#2 well in Alaska, a competent person report on the company’s oil discoveries and further development and exploration.
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Pan African Resources (PAF) believes that it can save $1.4m in year one once the Fairview solar facility at Baberton mines. Further investment in solar is planned. The company has also entered into a power purchasing agreement with Sturdee Energy. Allan Gray Proprietary has reduced its stake from 23.65% to below 21%.
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Jet2 (JET2) has increased its limit on non-UK national shareholders from 35% to 45%. It is currently 37%.
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Buckthorn Partners and nominee director Joe Connolly sold 7.2 million shares in Ashtead Technology (AT.) at 360p each. The remaining shareholding is 0.2%. BlackRock holds 5.16%.
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Ceres Power (CWR) withdrew the AGM resolutions relating to the partial disapplication of pre-emption rights for share issues because of investor concerns.
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Volex (VLX) has appointed Peel Hunt as nominated adviser and joint broker.

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