News blog

Quoted Micro 2 November 2020

  • BY: Andrew Hore |
  • POSTED: 02/11/2020 |

AQUIS STOCK EXCHANGE

Youth training services provider Harrogate Group plans to join the Aquis Stock Exchange on 9 November. Harrogate was previously quoted on AIM and there are still 1,600 small shareholders. The main operating subsidiary is Ngage Training, which offers residential training for people between 16 and 18 years old. As part of the acquisition of Ngage, Harrogate also acquired 10 million Cambridge Mineral Resources shares. 
Altona Energy (ANR) says that Leadway, where Altona is acquiring an initial 51% stake, has been granted a three-year exploration licence for the Nankoma rare earths project. Altona continues to try to raise the cash it requires to acquire the stake and cover operating costs.
Simon Rollason has joined Eastinco Mining and Exploration (EME) as chief executive. Eastinco has $390,000 in the bank and it does not expect full scale operations to recommence at the Musasa mine in Rwanda in January.
Inqo Investments (INQO) is acquiring a stake in organic waste recycling firm Sanergy. The Kenya-based business recycles 12,000 tons of waste each year and it intends to increase capacity to 72,000 tons a year. Income comes from waste collection and the sale of KuzaPro animal feed produced from fly larvae and other products made using the waste.
Asia Wealth Group Holdings Ltd (AWLP) increased its interim revenues from $797,000 to $894,000 and this has helped the financial adviser to move from loss to a profit of $106,000. 
Gunsynd (GUN) has still not completed the disposal of its stake in Oyster Oil and Gas because all the sale conditions have not been met. Malachite Resources is acquiring 80% of Kolosori Nickel, where Gunsynd owns 230,000 shares, for $2m in shares. Gunsynd will receive an initial 682,790 Malachite shares with potential deferred consideration of 1.14 million shares.
NQ Minerals (NQMI) has raised 3337,000 at 7p a share. Clean Invest Africa (CIA) has raised £155,000 from an issue of convertible loan notes, which are convertible at 2p a share.

AIM

Amryt Pharma (AMYT) says that the phase III trial for Filsuvez showed that it was more effective than a control treatment for epidermolysis bullosa, which is a chronic skin disorder causing blistering and scarring. There is no approved treatment for this condition. If things go to plan Filsuvez could obtain FDA approval in around 12 months.
Agronomics (ANIC) has raised a further £10m at 6p a share, with an additional £1m available for subscription by other shareholders and investors. The latest NAV is 5.62p a share and the previous fundraising was at 7p a share. This will eave £8.15m of cash available for investment. There are already five potential alternative protein company investments in the pipeline.
Offshore energy services provider Tekmar Group (TGP) has been hit by delays in contract awards and revenues in the latest six month period will be 10% lower than the equivalent time period last year. That suggests that revenues will be just over £16m. There is also increased competition in the offshore wind market. An updated product will be launched in the first quarter of 2021. The year end is being changed from March, which is a peak trading time, to September. The figures for the six months will be published on 1 December. Strategic review findings will be announced by new chief executive Alasdair MacDonald on the same day.
SourceBio International (SBI) has returned to the London market to raise cash to finance the increasing opportunities for Covid-19 testing services and also provide flexibility in making add-on acquisitions for its diagnostic and genomics operations. SourceBio was formerly on the Main Market and taken private in 2016 and it has exited poorly performing businesses. A placing raised £35m gross at 162p a share and this valued the company at £120.2m when it joined AIM on 29 October.
Cancer diagnostics developer ANGLE (AGL) has raised £18.5m net of expenses via a placing at 46p a share. This cash will be invested in laboratory facilities and the launch of Parsortix in the breast cancer market in the US once it gains FDA approval.
Kape Technologies (KAPE) raised £88.8m at 150p a share, which was more than the £77m originally sought by the company. The cash will be used to buy the shares issued to the co-founders of PIA. There should be a $50m tax benefit over 15 years.
Bion (BION) increased interim revenues from RM1.9m to RM27.2m and reduced the loss. There was some disruption in the period due to Covid-19 in the first half and there have been further measures instigated in the past month. Bion has completed the construction and commissioning of a wastewater treatment project. The Malaysia-based company continues to upgrade its two biogas power plants and it has conditionally acquired two others since June. That will bring installed capacity to 7MW.
Franchise Brands (FRAN) says that Metro Rod system sales in September were 9% ahead year-on-year, while Ovenclean and ChipsAway are back to trading at pre-Covid levels.
Mirada (MIRA) has launched its Android TV Operator Tier with custom launcher for Mexico-based izzi. Mirada is the only software provider to integrate Android TV for all primary video delivery technologies.
Frontier IP (FIPP) has published a quarterly newsletter summarising developments in its portfolio. This is available at its website www.frontierip.co.uk.

MAIN MARKET

Aquaculture equipment supplier OTAQ (OTAQ) increased its interim revenues from £1.8m to £2m and full year revenues should also be ahead of the £3.4m reported last year. The growth is coming from the SealFence product and this is offsetting poorer demand from the oil and gas sector. There was £1.9m in the bank at the end of September 2020. The interims will be published on 26 November.
Baskerville Capital (BASK) had £160,000 in the bank at the end of June 2020. The standard list shell also has a £1.15m investment in asset manager Oberon Investments, which it intends to take over.

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