News blog
Quoted Micro 5 May 2025
- BY: Andrew Hore |
- POSTED: 04/05/2025 |
AQUIS STOCK EXCHANGE
Walls and Futures REIT (WAFR) wants to withdraw from Aquis and re-register as a private limited company. This will require shareholder approval and means that REIT status will be lost. It has been difficult to raise significant funds, and the market capitalisation is well below NAV. Malcolm Jordan and Ventura Finance have requisitioned a general meeting to appoint Ventura Finance controlling shareholder Mark Jackson to the company’s board. They also want to remove chief executive Joseph Taggart, who increased his stake to 3.35%. They also want a vote to remain on Aquis. There is likely to be one meeting for all the resolutions.
Kasei Digital Assets (KASH) increased its NAV from £3.58m to £4.83m in the six months to January 2025. Disposals of assets have increased cash from £245,000 to £865,000. The company has undertaken a strategic review and decided that because the company is small it is best to seek shareholder approval for winding up the company. The target is to complete the disposal of assets and the winding up by the end of September 2025.
Supernova Digital Assets (SOL) moved into profit in the year to October 2024. NAV has risen from 0.24p/share to 0.37p/share.
SulNOx Group (SNOX) fourth quarter revenues of £471,000 were more than double the previous quarter. Sales to the shipping sector and in Asia were behind the growth. Year-on-year growth was 275%. Full year revenues were 106% higher at £1.12m. There was £2.2m in cash at the end of March 2025. Manufacturing of additives has started in Singapore.
Hot Rocks Investments (HRIP) bought 40 million shares in Wishbone Gold (WSBN) to take a stake of 3.2%. Wishbone Gold has appointed Apex Geoscience to manage exploration and drilling programme at Red Setter Dome in Western Australia. This will accelerate the progress.
ChallengerX has completed the changing of its name to NYCE International (NYCE). Management accounts for the first quarter of 2025 show revenues of £15,000. Net assets were £2.44m, or £600,000 excluding goodwill.
KR1 (KR1) had net assets of 52.16p/share at the end of March 2025, down from 58.2p/share one month earlier. There was aggregate income of £483,421 from staking activities.
Global Connectivity (GCON) says its stake in Rural Broadband Solutions Holdings Ltd has been diluted to 2.9%. It has invested a further £50,000 in PLUG Group Ltd, taking its stake to 6%. The company continues to try to recover the cash owed by Barry Hersh for 37.5 million shares.
Oscillate (MUSH) is planning to form a joint venture with La Miniere de L’Elephant SARL to develop the Duekoue copper, molybdenum and gold prospect in Cote d’Ivoire.
BWA (BWAP) chairman Jonathan Wearing bought 400,000 shares at 0.23p/share, taking his stake to 25.9% and managing director James Butterfield acquired 652,173 shares at 0.23p/share, taking his shareholding to 6.82%.
Chief executive Jason Brewer bought 250,000 Marula Mining (LON: MARU) shares at 3.75p each, taking his stake to 6.92%. Marula Mining has agreed to increase its shareholding in the Kilifi manganese processing plant from 80% to 100% for £1m in cash and 12 million shares at an issue price of 4.5p each. First manganese sales are expected in May. Due diligence has been completed on the Boteti lithium brines project in Botswana. Formal acquisition documentation will be finalised, and exploration could start in the second quarter of 2025. Geowise Resources will be issued 250,000 shares.
Investment Evolution Credit has changed its name to Amazing AI (AAI).
Dr Keith Harris has been appointed chairman-elect of IntelliAM (INT).
Shareholders have voted for the exit of Samarkand Group (SMK) from Aquis and that will happen on 7 May.
ASSET MATCH
Infection control technology developer Byotrol (BYOT) increased revenues from £3.97m to £4.32m in the year to March 2025. That growth was due to the sale of a five-year licence to the company’s trading partner in Japan. Product sales were flat, but they are growing in the new financial year. Gross margin improved and the EBITDA loss was reduced from £968,000 to £100,000. There is cash of £421,000.
JP JENKINS
Custom sports kit company My Club Europe (MCE) joined JP Jenkins on 28 April. The Surrey-based company creates personalised teamwear for sports teams, including football, cricket and rugby. There are nearly 4,000 clients.
AIM
Acquisitions have reduced the dependence of capital equipment supplier Mpac (MPAC) on the US market. Mpac has a spread of international customers and US manufacturing facilities, helping to offset fears about US tariffs. In 2024, revenues improved from £114.2m to £122.4m, while pre-tax profit recovered from £7.1m to £10.6m. Net debt ended 2024 at £27m and this could fall to £21.9m at the end of 2025. The pension scheme is in surplus, and this provides an opportunity to transfer it to a third party.
Uncertainty about the new structure of the UK rail industry is leading to delays in investment in software and hardware and that is hampering progress at Tracsis (TRCS). In the six months to January 2025, revenues were flat at £36.3m. Transport consultancy activities have ended, and like-for-like growth was 2%. There was an 18% increase in transactional revenues from pay as you go and delay repay services. There were £10m of recurring revenues. Pre-tax profit fell from £4.53m to £2.66m. Rising costs meant that the data and events division fell into loss despite higher revenues. Net cash was £22.1m at the end of January 2025. There are plans to use £3m for share buybacks.
Smart meter communications technology developer CyanConnode (CYAN) has not achieved the anticipated jump in revenues in the year to March 2025. Elections in India delayed shipments and there has been resistance from consumers about prepaid smart metering. The orders remain the same, but CyanConnode is reassessing expectations of the roll out. Cash was £5.8m at the end of March 2025, following receipt of a £5m loan.
Bleepa medical communications technology developer Feedback (FDBK) continues to suffer from delays in decision-making at the NHS. The company was focusing on the Elective Recovery Fund, which is no longer in the NHS budget. The government focus is reducing wating lists so Bleepa is still in a good position to gain contracts. Panmure Liberum has slashed its forecast 2024-25 revenues from £1.6m to £880,000 and the 2025-26 revenues from £4.14m to £2.84m. The loss for this year is expected to be £4.25m and it will be similar next year. On that basis, net cash would be down to £1.35m at the end of May 2026 and the company would move into net debt within 12 months.
Telematics company Trakm8 (TRAK) is being acquired by Canadian software company Constellation Software Inc. The recommended bid is 9.5p/share in cash. Weak demand from the vehicle insurance sector and delays to an expected optimisation contract hit trading at Trakm8 and it has been cutting costs. Constellation Software is attracted to Trakm8’s strong market position in the UK and it will provide greater financial backing. Fellow AIM telematics company Microlise (SAAS) has a 20% stake in Trakm8 as well as a convertible loan.
Professional and valuation services company Christie Group (CTG) reported 2024 pre-tax profit of £1m, which was triple the forecast. The professional services business sold more businesses, and the stocktaking business reduced its loss. The total dividend of 2.25p/share is also higher than forecast. A further pre-tax profit improvement to £1.8m is forecast for 2025.
Cosmetics supplier Warpaint London (W7L) continued to grow strongly despite weakness in the UK market late in the year. Pre-tax profit improved from £18.4m to £24.6m. The integration of Brand Architekts is going well with duplicate costs ending. The acquired brands can be sold through existing customers, particularly outside of the UK and sourcing can be improved. The 2025 pre-tax profit is expected to be £29m.
More shareholders are coming out against the Regent Gas Holdings offer of 68.5p/share in cash for energy assurance and optimisation services provider Inspired (INSE). In total, those shareholders own 49.1% of Inspired.
European Metals Holdings (EMH) says that the Czech panel has approved a CZK800m ($36m) grant to the 49%-owned Cinovec lithium deposit in the Czech Republic from the EU Just Transition Fund. This is dependent on the Environmental Impact Assessment being published by the end of 2025 and the Czech authorities, approval of the EIA by June 2026.
GeninCode (GENI) says there are outstanding elements in the De Novo submission to the Food and Drug Administration for CARDIO inCode-Score. These relate to clinical validation, which will be addressed. A supervisory review has begun, and the company is in discussions with the FDA. This will extend the time to generating revenues in the US.
IG Design (IGR) is considering the future of its North American business, and it may decide to concentrate on its other operations. One of the major US customers has filed for bankruptcy protection and the market is tough. Trading was in line with expectations in the year to March 2025 with net cash of $84m at the year end. A small pre-tax profit is expected.
In content advertising company Mirriad Advertising (MIRI) says first quarter revenues were just over £80,000, although this is a seasonally weak period there were lower than expected activity levels. Cash has fallen to £2.7m at the end of March 2025 with monthly cash burn of up to £750,000. There were talks about a possible offer for the company, but they have ended. Mirriad Advertising needs to raise more cash, and management is considering placing the company in administration. M&G has sold its 11.6% shareholding. The share price slumped 92.1% to 0.03p.
Healthcare services provider Totally (TLY) has launched a strategic review following a downgrading of expectations for the year to March 2025. This reflects a delay in the start of a contract and the discontinuing of higher margin NHS111 work. EBITDA expectations have been downgraded from £3.5m to between nil and £2m. Exceptional costs are higher than anticipated at £3.8m. The finance director has left. There is a tight cash position and that has sparked the review to decide how to strengthen the balance sheet. David and Sharon Hudaly revealed a 3.43% stake after the trading announcement.
GeninCode (GENI) says there are outstanding elements in the De Novo submission to the Food and Drug Administration for CARDIO inCode-Score. These relate to clinical validation, which will be addressed. A supervisory review has begun, and the company is in discussions with the FDA. This will extend the time to generating revenues in the US.
Oil and gas producer Prospex Energy (PXEN) says the Selva Malvezzi production concession in Italy, where it has a 37% interest, generated average daily production was 77,292scm. The Prospex Energy share of income was €1.24m. An application has been made to drill four more holes and 3D seismic survey data will be acquired. The temporary halt to production at Viura in Spain due to a leak in the completion tubing at the Viura 1-B well will reduce income from there. Production should resume in mid-June.
Enteq Technologies (NTQ) appointed administrators on 30 April after it failed to secure the additional funding to continue to meet its liabilities.
James Cropper (CRPR) has raised Euro1.75m for the sale of non-core IP assets.
MAIN MARKET
Motor dealer software provider Pinewood Technologies (PINE) has gained a five-year contract with Volkswagen Group Japan to implement its software platform. There are 350 VW and Audi distributorships in Japan. Revenues should start to come through in early 2026.
Pineapple Power Corporation (PNPL) has terminated the proposed acquisition of FUSE-AI. Instead, it plans to acquire Buffalo Battery Metals, which has exploration and producing mining assets in Zimbabwe. It has lithium, copper and gold prospects. If the acquisition goes ahead then the company will move to AIM.
New Frontier Minerals (NFM) has identified a new prospect at Harts Range in Northern Territories, Australia. The Paddington area is 200 metres west of the Bobs prospect. The company awaits the results from surface sampling. There was A$686,000 in cash at the end of March 2025, plus quoted shares valued at A$520,000.
© 2026 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|