NEX EXCHANGE
Veni Vidi Vici Ltd (VVV) joined NEX on 2 August. The minerals investment company has net cash of £513,000, following a £490,000 subscription at 50p a share. The focus will be precious metals and base metals opportunities in Australia, Western Europe and North America. Management will concentrate on capital appreciation.
EPE Special Opportunities (ESO) is changing its domicile from the Isle of Man to Bermuda. The private equity investment company will have to be readmitted to NEX and AIM. EPE has invested £2m in Main Market-listed LED lighting company Luceco at 39.74p a share. That takes EPE’s stake in Luceco to 27.4%. Poor trading has meant that the Luceco share price has slumped to well below its 2016 flotation level. EPE has redeemed 50% of its unsecured loan notes.
Etaireia (ETIP) has appointed Dennis Rogers as chief executive. He has more than three decades of experience in property development.
Equatorial Mining and Exploration (EM.P) has issued 2.685 billion shares, around one-quarter of the enlarged share capital, to wipe out the convertible loan note debt and other creditors. Twenty three year old Devon Marais, who works with ARQ Minerals, which is helping Equatorial to extract coal from the St Leonard’s mine in Nigeria, has been appointed as a non-executive director of Equatorial.
Asia Wealth Group Holdings (AWLP) reported a profit last year. In the year to February 2018, revenues increased from $1.52m to $2.16m, while a pre-tax loss of $110,000 was turned into a pre-tax profit of $150,000. That figure was helped by a $114,000 currency gain, compared with a $19,000 loss. There was still a small net loss from operations before other income.
AIM
Petrol stations operator Applegreen (APGN) intends to take a majority stake in UK Motorway services operator Welcome Break. The purchase of a 55% stake for €361.8m would be a reverse takeover. The deal would make Applegreen market leader in the UK as well as Ireland.
A subsidiary of Stride Gaming (STR) has been issued a notice by the Gambling Commission, which intends to levy a significant financial penalty because of the manner in which it carried on its trading. This is not final and there might be room to appeal but it has hit the share price of the online bingo operator.
The Property Franchise Group (TPFG) increased interim revenues by 11% to £5.3m. Most of the growth came from management service fees from the property lettings franchisees. The EweMove estate agency business was profitable.
Goldplat (GDP) says that gold production fell by 17% to 35,400 ounces, which is lower than anticipated, but pre-tax profit will be in line with expectations because of a higher margin per ounce. There was 39,400 ounces of gold sold during the year.
Beximco Pharmaceuticals (BXP) has received abbreviated new drug application approval from the FDA to sell Nadolol tablets, which are a generic form of Corgard and used for managing high blood pressure. This is the fifth approval in the US. A pre-tax profit of £33.3m is forecast for the year to June 2018.
Tough UK trading and higher costs held back the results of security and facilities management services provider Mortice Ltd (MORT) in the year to March 2018. Revenues were 21% higher at $219m, but underlying pre-tax profit was down by 16% to $3.9m. Net debt was $18.4m.
Precision marketing software supplier Pelatro (PTRO) is acquiring assets from the Danateq Group for an initial $7m. The deal will take the group into central Europe and adds to the recurring revenues base. A placing has raised £6m at 73p a share.
GetBusy (GETB) grew its interim revenues from £4.5m to £5.2m, with £4.5m of that figure recurring revenues. Annualised recurring revenues are running at £9.4m. Profit generated from document management software sales is being ploughed back into developing the existing product and the new GetBusy software. There is £2.37m in the back.
Starcom (STAR) says that interim revenues have improved from $1.92m to $3m and the loss will be lower. Most of the revenue increase came from two large clients. Growth is starting to come from higher margin security products. The 2018 loss is expected to be much lower than last year’s.
Kosovo-based quarry operator Fox Marble Holdings (FOX) increased interim sales from €329,000 to €614,000 and the second half has started strongly. The benefits of investment in capital equipment are beginning to show through.
MAIN MARKET
Argo Blockchain (ARB) has joined the standard list after raising £25m at 16p a share, which values the company at £47m. However, the share price fell to 12.5p by the end of the first day of trading on 3 August. Argo is developing a global datacentre management business facilitating cryptocurrency Mining-as-a-Service. It currently covers four cryptocurrencies. AIM-quoted Vela Technologies (VELA) owns 2.5 million shares, which were acquired for 8p a share.
Motor finance provider S&U (SUS) achieved record first half profit as the second hand car market continues to grow. Quality standards have been tightened with 25% of applications accepted, but net receivables have reached £263m. The property bridging loan book has risen from £11m to £16m over six months. The interims will be announced on 25 September.
BigDish (DISH) was originally going to reverse into AIM shell Nyota Minerals Ltd but instead it has joined the standard list. The company operates an online and mobile restaurant reservation platform, which is in operation in the Philippines, Indonesia and Hong Kong. The purchase of Pouncer, takes the company into the UK. Revenues come from booking fees per diner. BigDish raised £2.22m at 4.5p a share.
Path Investments (PATH) is raising £10m to complete the farm-in agreement with 5P Energy for the proposed acquisition of a 50% participating interest in the Alfeld-Elze II licence and gas field. This will make Path cash generative. The new shares will be eligible for EIS and VCT relief because Path is moving to AIM.
Dave Brieth has sold his stake in telecoms services provider Toople (TOOP).
Associated British Engineering (ASBE) reported a sharp increase in full year revenues from £1.04m to £1.6m in the year to March 2018. The loss fell from £962,000 to £582,000. This includes investment in developing new diesel engines. The NAV is £976,000, as the loss was partly offset by a £600,000 property revaluation gain. The oil and gas-related operations are still depressed.
Mila Resources (MILA) plans to acquire Capital Metals, which owns 100% of a high-grade mineral sands project in southern Asia. The reverse takeover will be subject to due diligence and shareholder approval.
Fandango Holdings (FHP) has ended bid discussions with Corporate Commercial Collections and Vatbridge following initial due diligence.
Andrew Hore