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Quoted Micro 30 August 2021

  • BY: Andrew Hore |
  • POSTED: 30/08/2021 |

AQUIS STOCK EXCHANGE

Capital for Colleagues (CFCP) has sold its investment in Ecomerchant Natural Building Materials for £250,000, which is a 150% profit on the initial investment. There is a management buyout. An initial £100,000 will be received and the rest will be paid over five years. The valuation is already reflected in the NAV of the group. Space software supplier Bright Ascension Ltd is raising a further £1m. Capital for Colleagues invested £250,000 in 2016 and 2017. The A shares acquired had preferential participation rights. Capital for Colleagues has retained the A shares and swapped the associated preferential rights for 50,000 ordinary shares valued at £1.75m. That is equivalent to a 2.6p a share uplift in NAV.

Cadence Minerals (KDNC) had cash of £1.39m at the end of June 2021. In the first half of 2021, there were realised gains of £423,000 and unrealised gains of £3.12m. Net assets are £25.2m. Cadence is reviewing its privately held assets, particularly lithium assets in north Australia. The Amapa iron ore project is the main focus.

Holiday resort developer Belvedere Leisure (BL03) has exercised its option to acquire Barnsoul caravan park via a joint venture with Apple Invest. The site occupancy has recovered to more than 90% in August. New lodges will commence construction during September and there should be 25 by the end of 2021. Landal Barnsoul will take over the management of the site at the beginning of 2022. More lodges will be added.

Sativa Wellness Inc (SWEL) has signed a distribution agreement with Germany-based Lexamed. This will help to build sales of the Goodbody CBD brand in Germany and nearby markets. Their joint venture company will be transferred to Lexamed.

Eight Capital Partners (ECP) has acquired €40m of secured bonds from a company controlled by its chairman Dominic White. They have been bought for par plus unpaid interest of €151,000 and payment is a vendor loan. After the cost of the loan, the net interest income will be €400,000. The bonds were issued by 1AF2, a subsidiary of The Avantgarde Group, an Italian fintech company. There is an equity linked element for the redemption payment. The maturity date is 30 June 2024. New capital will be raised to pay off the vendor loan.

Steve Xerri has taken a 4.81% stake in Oscillate (MUSH). DXS International (DXSP) chairman Bob Sutcliffe bought 10.156 shares at 12.8p each.

AIM

Rail and traffic software and consultancy services provider Tracsis (TRCS) has benefited from the easing of lockdown improving demand for the traffic data and events division. Group revenues for the year just ended have been upgraded from £49m to £50m. Cash will be better than expected at £25.4m.

CPP Group (CPP) is paying a 5p a share interim dividend. The personal protection and insurance products provider increased revenues from continuing operations by 10% to £66.4m despite the Covid-19 restrictions in the important Indian market. There was a small improvement in underlying pre-tax profit to £800,000. Cost cutting will help to improve profitability. There are 12.3 million Cash was £19.6m at the end of June 2021.

Ireland-based industrial property and offices investor Yew Grove REIT (LON: YEW) spent €900,000 on moving to the main Euronext market in Dublin, which was required by REIT regulations. The AIM quotation is being retained. After that additional cost the interim pre-tax profit before property gains was still €2.52m on revenues of €6m. NAV edged up to €1.0064 cents a share. Loan to value is 29.6%. The annual rent roll is €12.8m. Life sciences, government and multinationals account for 97% of this.

Building materials sector consolidator SigmaRoc (SRC) has completed the acquisition of Finland-based limestone supplier Nordkalk. Interim revenues, prior to the acquisition, increased from £54.5m to £84.8m and underlying pre-tax profit improved from £5.3m to £8.7m.

City of London Group (CIN) is raising £11.4m through a share subscription and up to £6.9m via an open offer at 60p a share. Warrants are also being issued that are exercisable at 69p a share. The cash will be used to finance the development of Recognise Bank and enable it to gain full authorisation to offer savings products. Recognise has already started to offer loans. The bank’s focus is small businesses. Further cash should be raised through the disposal of Milton Homes.

Science Group (SAG) has increased its stake in TP Group (TPG) to 23.2%.

MAIN MARKET

BATM (BVC) sparked a forecast upgrade when it published its interims. Both the biomedical and networking and cyber divisions are making strong progress. The latter’s revenues were flat after adjusting for the sale of the NGSoft business, but the launch of the Edgility will enable the division’s revenues to grow over the medium-term. The Biomedical division continues to benefit from demand for Covid-19 diagnostic products, but that should not mask the progress of the rest of the business. Shore Capital has increased its 2021 revenues forecast by 5% to $138m and pre-tax profit to $23m, including the $13m gain on the NGSoft disposal.

Tirupati Graphite (TGR) generated revenues of £1.12m in the year to March 2021, up from £794,000 the year before. That was despite the effect of Covid-19 restrictions.

Oxford Cannabinoid (OCTP) had £14.6m in the bank at the end of May 2021 and since then £1.15m has been spent on R&D.

NMCN (NMCN) Has agreed an extension to its £10m convertible bridging facility until 1 November. The annual report should be published before the end of September.

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