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Quoted Micro 15 February 2021

  • BY: Andrew Hore |
  • POSTED: 15/02/2021 |

AQUIS STOCK EXCHANGE

Oberon Investments Group (OBE) has joined the Access segment following the reversal of the wealth management business into standard list shell Baskerville Capital. Assets under administration are more than £400m. Oberon was formed in 2017 and acquired investment manager MD Barnard. It also has a corporate broking business, and it is joint broker to MyHealthChecked (MHC). There was £1.44m raised at 4p a share at the time of the reversal.

Brewer Curious Drinks is being placed into administration and the business will be acquired by Risk Capital Partners, which was founded by Luke Johnson. This will have to be agreed by the HMRC and the secured creditor HSBC. There should be no redundancies Majority owner Chapel Down Group (CDGP) is offering small shareholders in Curious Drinks a share swap. There will be 1.57 Chapel Down shares issued for each Curious Drinks share. In 2015, Curious Drinks raised £1.71m via a crowdfunding with Seedrs, which equates to a market capitalisation of £17.7m. That funding was equivalent to 9.66% of Curious Drinks and there were 886 shareholders. The share swap should provide around 50% of the initial investment. There will be less than 1% dilution for Chapel Down shareholders. Chapel Down net debt will be slashed from £7.2m to £100,000. There was a loan from Chapel Down to Curious Drinks of £7.77m included in the 2019 accounts.

Coinsilium (COIN) holds $1.98m of cryptocurrency and tokens, which is a 17% increase in fewer than three weeks.

Gunsynd (GUN) has sold all its shares in Angold Resources. This raised £163,000. Chris Akers has increased his stake in Gunsynd to 5.36%.

Tectonic Gold (TTAU) continues to have a 100% success rate for its exploration drilling. According to managing director Brett Boynton the latest hole shows “multiple stacked veins somewhat like a palm tree spraying out mineralised fronds from the primary fault zone”.

NQ Minerals (NQMI) has raised £301,000 at 7p a share from one institution and private investors. Vulcan Industries (VULC) has raised a further £185,000 with some shares placed at 3.6p and some at 4p.

Western Selection (WESP) has bought a further 150,000 shares in Bilby (BILB) at 29.8p each. The total stake is 11%.

AIM

Joules (JOUL) has acquired the Garden Trading Company, which takes it into the home and garden market and adds annual revenues of £168m. Joules is paying £4.5m in cash and 2.83 million shares. Peel Hunt has increased its 2021-22 pre-tax profit forecast by £2m to £10.6m.

Engineer Avingtrans (AVG) maintained its interim revenues at £54.1m and the stemming of losses at recent acquisitions has helped pre-tax profit to nearly double to £3.5m. It offset the lower demand from the oil and gas sector. The recent merging of the MRI operations with Magnetica, will enable niche MRI products to be developed, but it will take time for the revenues to come through. Meanwhile, Avingtrans is stopping supplying third parties. The valuable Luton site could be sold in the next year or so if market conditions allow.

Kromek (KMK) is raising up to £13m via a placing and open offer at 15p a share. The cash will be used to accelerate the commercialisation of its bio-security products and boost the marketing of medical imaging and nuclear detection products. Intuitive Investments Group (IIG) is investing £250,000 in the placing.

Packaging manufacturer Robinson (RBN) is acquiring blow moulded containers producer Dhela Plast for up to £7.7m. There will be additional investment of £2.4m in the Danish company. The customer sectors are similar to Robinson and the deal widens its geographic reach.

MAIN MARKET

Motor finance provider S & U (SUS) expects a rebound in demand when lockdown restrictions are eased. In the past two months new deal transactions are running at nearly 80% of previous levels. Investment in Aspen Bridging has been increased because of the strong demand. A second interim dividend of 25p a share has been announced.

A planned demerger of assets by Aseana Properties Ltd (ASPL) has been stopped because the banks have not agreed to the proposal.

Castillo Copper Ltd (CCZ) confirms an extension to the 100%-owned Big One deposit and JORC modelling is underway.

Argo Blockchain (ARB) intends to acre 320 acres in Texas where it will build a new mining facility in the next 12 months. The overall cost will be $17.5m in shares.

UP Global Sourcing (UPGS) grew interim sales by 11%. Beldray represented 28% of sales, with the next biggest contributions coming from licenced brands Salter and Russel Hobbs.

One Heritage Group (OHG) is taking advantage of the share price rise over the past two months to raise £548,500 at 30p a share. The residential developer floated before Christmas at 10p a share. One Heritage plans to buy an office block in Stockport, which can be converted into residential. Plus House will cost £725,000.

Tirupati Graphite (TGR) is increasing the planned flake graphite capacity of the first module at the Vatomina project by 50% to 9,000 tonnes a year. The project will be commissioned in the second quarter. Carboflamex and other expandable graphite products produced by the company have gained certification to be sold in the EU.

Avation (AVAP) has entered into a lease with an Asian airline for an ATR72-600 aeroplane, which should be delivered in March.

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