News blog

Quoted Micro 14 November 2022

  • BY: Andrew Hore |
  • POSTED: 14/11/2022 |

AQUIS STOCK EXCHANGE

First quarter trading at National Milk Records (NMRP) strengthened in all areas. Revenues increased by 4% to £5.98m. There was an 82% rise in genomic testing revenues to £151,000. Milk prices are expected to remain strong. The GenoCells services, which provide farmers with genomically driven individual animal cell count analysis, will be launched in the UK and US.

OTAQ (OTAQ) has switched from the standard list to the Access segment of Aquis. The share price has held steady at 5p. OTAQ raised £3.6m at 4p a share.

Shareholders have approved the reverse takeover of TECC Capital (TEC) by EDX Medical. The shares will recommence trading on 14 November.

Guanajuato Silver Company Ltd (GSVR) has discovered a new transverse vein at the El Cubo mine in Guanajuato, Mexico. This has been named the San Luis vein. The company has been reinterpreting previous data. This vein is likely to have a higher gold component than the primary structures. Vein widths are close to one metre or above.

Property investor Ace Liberty & Stone (ALSP) has exchanged contracts to acquire Loders Service Station in Dorset for £2.08m. There is a SPAR convenience store and BP filling station. The annual rental income is £168,000 and it increases to £185,000 in 2023.

Igraine (KING) says Conduit Pharmaceuticals is reversing into Nasdaq-listed Murphy Cannon Acquisition Corp. This will provide nearly $150m of funding for Conduit. Via a 2% stake in Excalibur Medicines, Igraine has an economic interest in AZD1656, which is a potential diabetes treatment, one of the assets of Conduit. Excalibur Medicines has exclusive rights to the patents on AZD1656. Fellow Aquis-quoted company Oscillate (MUSH) has a 25.7% stake in Igraine.

Goodbody Health Ltd (GDBY) says the full year outcome will be worse than expected. Third quarter figures showed a 6% decline in revenues to £9.29m due to reductions in Covid testing revenues, while margins declined. The loss nearly doubled to £1.67m. The cost base is being reduced.

Technology investor SuperSeed Capital Ltd (WWW) has made six investments since joining Aquis. The latest is Techsembly, a SaaS e-commerce platform offering payments technology to hotel operators. NAV is 95p a share.

Electric vehicle drivetrains developer Equipmake (EQIP) says 2021-22 revenues were better than expected at £3.7m. More of the revenues are coming from commercial projects. The loss has fallen to £4.3m.

Altona Rare Earths (ANR) is drawing down £150,000 in two tranches from Align Research Investments. The interest rate is 15% and there are also warrants equal to 150% of the loan value exercisable at 12p a share.

Gunsynd (GUN) investee company Rincon Resources says a preliminary report highlights similarities between its Pokali prospect and a nearby niobium rare earth discovery.

EPE Special Opportunities (EO.P) announced net assets of 239.2p a share at the end of October 2022, down from 242.3p a share the month before.

AQRU (AQRU) has linked up with accountancy firm Sampson Fielding to offer technology-led accountancy services for institutions holding digital assets and their auditors. The brand will be Daxiom.

AIM

PayPoint (PAY) is bidding for Appreciate (LAPP) in a deal that values the prepaid vouchers and Christmas savings group at £83m – based on a PayPoint share price of 580p. The offer is 33p in cash and 0.019 of a PayPoint share for each Appreciate share. A 0.8p a share dividend will also be paid to Appreciate shareholders. The PayPoint share price has fallen to 547p, so the bid is not worth quite as much now.

Motor dealer Vertu Motors (VTU) is in talks to acquire Helston Garages Group Ltd. This would be funded by debt. The controlling party of the company is the executors of the estates of former directors David Stanley Carr and Betty Vera Carr. Helston Garages is based in south west England and has 37 dealerships, plus two used car sites. Helston Garages had net cash was £10.8m at the end of 2021 and NAV was £136.2m.

Insolvency litigation financer Manolete Partners (MANO) is generating more cash, but a write down in the values of ongoing cases meant that reported revenues were lower. That is partly due to large case being lost and the general economic conditions. More importantly, realised revenues are increasing. The interim figures reflect cases that were taken on during a period of Covid restrictions and government assistance, when insolvencies were relatively low. Insolvency numbers are increasing so opportunities will increase.

Online home moving services provider Smoove (SMV) revealed a higher loss and cash outflow in the six months to September 2022. The benefits from investments in new products, such as Smoove Start, aimed at estate agents, and Smooth Complete, which is for conveyancing lawyers, won’t show through until next year. Costs are being reduced. Smoove has announced a tender offer of up to £5m, but that will still leave plenty of cash in the bank to fund the business as it moves towards breakeven.

Biome Technologies (BIOM) increased third quarter revenues by 77% to £1.9m. Both bioplastics and radio frequency divisions grew their contributions. Even so, Biome is being more cautious about pre-commercial customer projects and full year revenue expectations have been trimmed from £6.8m to £6.29m, which is still higher than the £5.73m generated in 2021. A full year loss of £1.1m is forecast.

PCF Group (PCF) has been unable to raise money or secure a strategic transaction, so PCF Bank is withdrawing from the UK banking market. The PCF board wants shareholder approval for the cancellation of the AIM quotation.

Mobile data computing services provider Touchstar (TST) has won a £1.5m contract with a petrochemical distribution client. There will be additional recurring revenues in future years. This underpins 2022 and 2023 pre-tax profit expectations of £400,000 and £700,000 respectively.

Poolbeg Pharma (POLB) has identified multiple novel drug targets for the treatment of respiratory syncytial virus. This has been achieved within eight months with its partner OneThree Biotech. This includes known drugs with phase 1 safety and efficacy data. The best candidates should be identified by the end of the year.

Beximco Pharmaceuticals Ltd (BXP) increased 2021-22 net sales from £251.4m to £309.7m with growth coming from domestic sales and exports. However, profit after tax fell from £26.6m to £24m. No revenues are anticipated from Covid vaccines in the near-term.

Construction claims and disputes consultancy Driver Group (DRV) made an underlying loss in the year to September 2022, but management believes that the Middle East and Asian operations should return to profitability this year. Europe and the Americas remain profitable.

MAIN MARKET

Made.com (MADE) has gone into administration and PwC is handling the administration. Next (NEXT) has acquired the brand and IP.

National World (NWOR) has invested $1.25m in social-first media company The News Movement. National World hopes that this will help to attract a younger audience to its publications.

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