AQUIS STOCK EXCHANGE
Brewer Adnams (ADB) increased its revenues from £50.7m to £57.4m in 2021 and the loss was reduced from £4.3m to £1.39m. There is no final dividend. Net bank debt was £11m. The pension liability more than halved from £11.2m to £5m. Beer volumes were maintained.
S-Ventures (SVEN) says headwinds in the economy have held back sales of its healthy snacks. Even so, like-for-like sales are currently 10% ahead of last year. Cost savings of £300,000 a year have been found at the Pulsin plant-based products business.
Watchstone Group (WTG) subsidiary WTGIL Ltd has lost its VAT appeal. It is considering whether to take the appeal to the Upper tax Tribunal.
Cannabis-related products supplier Voyager Life (VOY) has opened three stores and relaunched its website in the year to March 2022. The Ascend Skincare brand was launched. There was £14.3m in the bank at the end of March 2022. Monthly overheads were just under £50,000. In the 16 months to March 2022, revenue reached £178,000. Revenues are steadily growing. Voyager is still waiting for ingestible products to receive authorisation from the authorities.
KR1 (KR1) has invested $700,000 in Zeitgeist in return for one million ZTG tokens. Zeitgeist is an application specific blockchain for prediction markets and futarchy.
Eastinco Mining and Exploration (EM.P) says that Aterian Resources has been awarded a ten year mining licence for the Agdz copper and silver project in Morocco. Eastinco has agreed to acquire Aterian from AIM-quoted Altus Strategies (ALS). Once the Aterian acquisition is completed Eastinco plans to move to the Main Market.
Goodbody Health (GDBY) says subsidiary PhytoVista Laboratories has been granted a licence to handle Schedule 1 controlled drugs.
Chris Akers has increased his stake in TECC Capital (TEC) from 10.6% to 11.1%. Robert Johnson reduced his stake to below 3%. Chief executive Kiran Morzaria has bought 54,422 shares in Cadence Minerals (KDNC) at 18.37p a share.
Vulcan Industries (VULC) has extended two loans with £1.225m payable on 16 April 2023 and £629,000 on 4 July 2023.
EPE Special Opportunities (ESO) had net assets of 368.49p a share at the end of March 2022.
AIM
Recycling Technologies has pulled its AIM flotation after its chief executive stepped down due to personal reasons. It had apparently raised the money it was seeking but the late change meant that the company has decided to have a smaller private fundraising before having another attempt at floating on AIM.
Loadbanks maker and hirer Northbridge Industrial Services (NBI) is able to concentrate on its core business following the disposal of Tasman. In 2021, revenues from continuing operations were one-fifth higher with a greater proportion of hire business. Pre-tax profit trebled to £3.3m, before the restructuring and convertible loan note redemption costs of £7.6m, which were predominantly asset write-downs. There was a 1p a share dividend. The company is changing its name to Crestchic.
Online electricals retailer Marks Electrical (MRK) reported full year revenues that were 44% ahead at £80.5m and EBITDA margins are 9%. The fourth quarter revenues to March 2022 were 19% ahead at £20.7m. The comparatives are particularly strong because they were during a period of lockdowns when online sales made up a higher proportion of appliance sales. Pre-tax profit is still expected to decline from £6.8m to £6.1m in 2021-22 due to additional overhead costs.
Cambridge Cognition (COG) is building up its clinical trial business. Full year revenues increased by 50% to £10.1m and the digital health company moved into profit. There was £6.8m in the bank at the end of 2021. At least £7.5m of the year-end order book of £17m should be recognised in 2022. More contracts have been secured since the end of 2021.
Asset management services provider MJ Hudson (MJH) grew interim revenues by 48% to £23.4m with particularly strong growth in ESG-related services. Underlying pre-tax profit quadrupled to £1.6m. Net debt excluding leases was £13m at the end of December 2021. New business activity remains strong and there is no direct effect from the weak stockmarkets on revenues. Guernsey-based Saffery Champness Fund Services was acquired during the period.
Telematics firm Microlise (SAAS) reported revenues of £88.2m in the 18 months to December 2021. Annual revenues grew by 17%. Existing customers generated £35.6m in 2021 and there is hardly any customer churn. Annual recurring revenues are £38.9m.
AEX Gold (AEXG) has announced exploration results from the iron oxide, copper, gold project at Sava in southern Greenland. These showed that there is mineralisation. There are three high priority targets.
The lock-up period for shares in Poolbeg Pharma (POLB) distributed by Open Orphan (ORPH) ends on 20 April and new investors are hoping to buy up to £1.6m of shares at 5.9p each. The share price subsequently recovered to 6.7p, having been sliding in recent months ahead of the end of the lock-up period when there were concerns there could be a significant number of shares coming onto the market.
Ince (INCE) is going ahead with the acquisition of broker Arden Partners (ARDN) even though it is losing its nominated adviser status. The merger should be completed on 29 April.
MAIN MARKET
Financials Acquisition Corp (FINS) is a shell looking for a financial services acquisition, particularly in the insurance area. The focus is technology that is used to make the insurance sector more efficient. There was £150m raised at £10 a share. The share price ended the week at 997.5p.
It took a year to secure the transaction, but DG Innovate (DGI) has completed its reversal into Path Investments. The purchase of the electric drive and sodium-ion battery technology developer cost an initial £32.4m in shares at a deemed price of 0.6p a share, which was well above the market price. There was also £2.55m raised at 0.5p a share. The shares opened at 0.45p and ended the week at 0.305p.
Materials developer HeiQ (HEIQ) estimates that revenues were $57.9m thanks to a good fourth quarter. This is despite deferring revenues and $1m in operating profit from technology milestones for the agreement with the Lycra Company for its AeoniQ material into 2022. Operating profit is expected to be $3.4m, compared with the $4m forecast. Revenues are expected to grow by one-fifth this year.
Natural ingredients supplier Treatt (TET) grew interim revenues by 9% to £66.3m. The operating profit will be second half weighted.
Andrew Hore
