News blog
Sopheon
- BY: Andrew Hore |
- POSTED: 23/08/2012 |
Product innovation software developer Sopheon returned to profit in the first half of 2012 and revenue visibility for 2012 stands at £9.9m.
Interim revenues grew from £4.67m to £6.17m, while a loss of £282,000 was turned into a profit of £74,000.
House broker finnCap has downgraded its 2012 earnings per share forecast from 0.3p to 0.2p.
Sopheon is raising £1.15m through the issue of convertible loan stock. This loan stock will have the same conversion price of 5p a share as the existing convertible loan stock. They also mature at the end of January 2015. Total loan stock in issue will be £2m.
The money has been raised because of uncertainty about the $1.25m credit facility provided by BlueCrest Capital Finance. Net debt was £144,000 at the end of June 2012.
At 5.5p a share, up 0.5p, Sopheon is valued at £8.01m.
Sopheon is planning a move from Euronext to Alternext, which is the equivalent of Aim. A share consolidation is also being considered. A balance sheet reorganisation would enable Sopheon to start paying dividends.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2012_35.pdf
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