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AQUIS STOCK EXCHANGE
Shepherd Neame (SHEP) issued a full year trading statement, and it is set to return to profit in 2021-22. The Kent-based brewer and pubs operator says revenues are recovering. Net debt was reduced from £93.2m to £75.3m by the end of June 2022. The estimated 2021-22 pre-tax profit is £7.2m and it is expected to improve to £9.6m in 2022-23.
Chief marketing officer Mark Harvey is leaving Chapel Down Group (CDGP). He has been with the wine maker for six years.
Energy storage technology developer Invinity Energy Systems (IES) generated revenues of £3.2m in 2021 and reported a substantial loss. VSA has cut its forecast 2022 revenues from £26.5m to £14.1m. There are already contracts that have been secured that are valued at £13.8m. The loss is expected to reduce from £21.3m to £17.9m. There should still be net cash of £10m by the end of 2022.
Visum Technologies (VIS) raised £601,000 at 14p a share ahead of its admission to Aquis on Thursday. Visum is the operator of an on-ride video camera system sold or licenced to theme parks, souvenir producers and ride operators. The share price opened at 12p before recovering to 14p
The technology investment company Asimilar (ASLR) reported interim figures, which show a £10.6m loss due to a sharp decline in the Dev Clever Holdings share price, which is currently suspended. Net assets were 25.3p a share at the end of March 2022.
Blockchain and digital assets investor KR1 (KR1) says net assets were 423% higher at 122.68p a share at the end of 2021, but that figure is likely to be lower now given the weak cryptocurrency market this year. There was £3.49m in cash on the balance sheet.
TruSpine Technologies (TSP) is waiting for the FDA’s response to the request for breakthrough technology designation before filing a 510k FDA submission for tis Cervi-LOK screwless spinal stabilisation system.
Trading in British Honey (BHC) shares was suspended at the end of the week because it has not published 2021 figures.
AIM
A further downgrade for Shield Therapeutics (STX) after its 2021 figures. Most of the 2021 revenues of £1.5m were generated in Europe and not the important US market for the Accrufer iron deficiency treatment. The latest figures show some progress in US Accrufer revenues with first quarter Accrufer prescriptions double the number in the fourth quarter of 2022, taking the total prescriptions for the quarter to more than 3,900. finnCap has reduced its 2022 forecast for US revenues from £8.1m to £6.3m thereby reducing total group revenues from £9.9m to £8.1m.
Shareholders in plant-based polymers developer Itaconix (ITX) have voted against the reappointment of two non-executive directors, including Charlean Gmunder, who was appointed on 19 April this year, and the Itaconix 2022 Equity Participation Plan for non-employees, where 79.16% of votes were against. First half revenues are substantially ahead of the previous record level.
Employee benefits services and insurance provider Personal Group (PGH) has acquired Quintage Consulting Group for £900,000 in cash. This is an employee reward and recognition consultancy providing things such as pay benchmarking surveys.
Footwear supplier Unbound Group (LSE: UBG) says trading has been in line with expectations following a good start to the year to January 2022. The multi-brand platform, that will exploit the extensive database that the company has built up, will launch on 28 July. There are 14 partner brands signed up, including Hush Puppies, and Sketchers.
IG Design Group (IGR) has started to improve operational efficiency in order to move back into profit. Higher freight and supply chain costs hit the business last year. Full year revenues increased from $873.2m to $965.1m, but an underlying pre-tax profit of $32.8m was turned into a loss of $1.3m. A modest rise in revenues is forecast for this year. The order book is already 71% of this year’s budgeted revenues.
Cosmetics supplier Warpaint London (W7L) has reported that first half sales are 30% ahead at more than £24m and gross margin has improved.
MAIN MARKET
Standard list shell Alteration Earth (ALTE) is seeking an acquisition in the clean technology or energy sectors. The plan is to do this within 24 months of admission. The shell raised a total o £1.26m by issuing nine million shares at 4p each and nine million shares at 10p each. The share price ended the first day of trading at 30p, but the bid offer spread was 10p/50p. The deal would need to make the enlarged group worth a minimum of £30m.
Hamak Gold Ltd (HAMA) says two rock chip samples from the Nimba licence in Liberia show grades of 45.5g/t and 37.3g/t. These are located where gold in soil anomalies were reported. There are assays to come from channel sampling of surface exposures.
Andrew Hore