AQUIS STOCK EXCHANGE
United Win Asia has invested £3.15m in Samarkand (SMK) at 115p a share, which is the same as the original placing price but well below the market price. United Win Asia is part of a logistics group and this fits well with Samarkand’s ecommerce platform.
Clarify Pharma plans to raise £5m at 3p a share, which would value the life sciences company at £10.5m. The focus is psychedelic-based substances that can be used to treat PTSD, Alzheimer’s and depression. Investments will be identified in the UK and Canada. The board is dominated by the same team, including Michael Edwards, that floated decentralised finance (DeFi) focused investment company Dispersion Holdings (DEFI) and NFT Investments (NFT), which is investing in a portfolio of non-fungible tokens (NFTs).
Michael Edwards is also chairman of Pioneer Media Inc. This is a company that has floated on the Canadian Stock Exchange and plans to gain a quote on Aquis. Pioneer is seeking investments in eSports and mobile gaming. The expected admission date is 25 May.
Pharma C Investments is an early-stage investor in the medical cannabis sector. The focus will be on markets that already have legislation and regulations. The plan is to raise £1m and the expected admission date is 26 May.
Greencare Capital (GRE) has appointed Richard Tonthat as chief executive. The cannabis-focused investment company recently made its first two investments after its original acquisition fell through. Richard Tonthat has worked at Grant Thornton and British American Tobacco, when it made a large cannabis acquisition in Canada.
ASX-listed Pacific Nickel has completed the acquisition of 80% of Kolosori Nickel and Gunsynd (GUN) has received 682,790 Pacific Nickel shares at 8 cents each for its stake. The current Pacific Nickel shareholding is 1.95 million shares. There will be deferred consideration if a mining lease is granted, and the mineral resource is confirmed. Gunsynd could receive a further 1.14 million shares if this is achieved.
Eight Capital Partners (ECP) is acquiring corporate finance adviser Innovative Finance Srl for an initial €2.45m with a further €2.45m payable depending on performance over three years. Eight Capital Partners previously had an option to acquire a 60% stake. Concreta Srl will own 9.9% of Eight Capital Partners and chairman Dominic White will own 29.9% – he is also loaning the company €1.1m.
Cadence Minerals (KDNC) says that a second batch of iron ore has been shipped from stockpiles at the Amapa project in Brazil. The cash will be used to pay creditors, including ex-employees. The remaining creditors need to be paid before Cadence acquires a 20% stake in Amapa. A further investment of $3.5m would take the stake to 27%.
R Oldfield has been buying shares in Shepherd Neame (SHEP). He bought 6,356 shares at 1032p each, a further 2,500 shares at 1038p each and 16,144 shares at 1035p each.
Incanthera (INC) is presenting at the Shares and AJ Bell investor evening webinar on 19 May.
Vulcan Industries (VULC) has raised £70,000 at 1.5p a share. Vulcan subsidiary Orca Doors is gaining orders, which cover six months of capacity. Ananda Investments (ANA) has raised £15,000 from the exercising of warrants at 0.45p a share.
EPE Special Opportunities Ltd (ESO) had a NAV of 495.69p a share at the end of April 2021.
AIM
Motor dealer Vertu Motors (VTU) performed In the year to February 2021, revenues fell from £3.1bn to £2.5bn, while underlying pre-tax profit improved from £23m to £24.6m. Net cash, excluding leases and vehicle stocking loans, was £1.4m at the end of February 2021. The net tangible asset value is 50.2p a share. At the beginning of May, CIP Merchant Capital (CIP) bought 1.55 million Vertu Motors shares at just over 40.3p each.
Business restructuring company Begbies Traynor (LSE: BEG) has acquired Midlands-based MAF Property, which is a finance broker. The deal could cost up to £11.75m, with £3m in cash and shares upfront and the rest depending on profit growth. The pre-tax profit forecast for the year to April 2022 has been raised from £16.5m to £17m.
Nightcap (NGHT) has raised £10m at 23p a share and strong demand meant that existing shareholders Raymond Blanc and David Moore sold part of their stakes. The original plan was to raise £4m.
e-Therapeutics (ETX) has raised £22.5m, including £920,000 via Primary Bid, at 24p a share. The cash will be used to expand the company’s drug discovery and development operations. There are plans to complete a first in human clinical study for one RNAi asset and advance two or three other RNAi therapeutic programmes through preclinical development.
Great Western Mining (GWMO) has completed an initial six-hole drilling programme at the Trafalgar Hill project in Nevada. All six holes intercepted intercepted the main shallow structure. In the next few weeks there will be further drilling and more analysis and news about these drilling results.
Gaming Realms (GMR) has extended its SLINGO agreement with Scientific Games. The four-year licensing deal includes the opportunity to launch SLINGO digital lottery games.
Trellus Health has the rights to technology that can be used to manage irritable bowel syndrome. It can reduce unplanned hospital visits by 85%. The US-based company expects to join AIM on 28 May.
STM (STM) has sold its Jersey trust and company services business for net cash of at least £1.4m. That reduces the 2021 profit forecast by £100,000 to £2.5m.
Dekel Agri-Vision (DKL) says April crude palm oil production was lower against strong comparatives, but that was offset by higher prices. Arden still expects a move into profit this year – €600,000 is forecast.
MAIN MARKET
Medica Group (MGP) reported a one-fifth reduction in full year revenues to £36.8m. The lack of elective surgery meant that demand for teleradiology services was reduced. However, demand for emergency services slightly increased. There was an initial contribution from the Irish business bought last year. The 2020 underlying pre-tax profit fell from £11m to £4.74m. The US business was acquired this year and an Australian joint venture has been launched.
LED lighting and wiring accessories supplier Luceco (LUCE) expects interim operating profit to double to £18m. Operating margins are being maintained even though costs of some components are increasing. Net debt should remain at around £18.3m.
Haysmacintyre and a partner have been reprimanded and fined for its audit of the Associated British Engineering (ASBE) accounts for 2017-18. This was not undertaken in the appropriate manner.
Cizzle Biotechnology (CIZ) has reversed into standard list shell Bould Opportunities. Cizzle is is developing a test that could make diagnosing lung cancer more accurate by preventing false positives. A placing raised £2.2m at 10p a share. Pro forma cash is £1.89m, which is slightly higher than the NAV. The cash will be used to make progress towards gaining CE marking for the biomarker test.
Andrew Hore