Home » Posts tagged 'bhrd'
Tag Archives: bhrd
Andrew Hore – Quoted Micro 15 June 2020
AQUIS STOCK EXCHANGE
Wheelsure Holdings (WHLP) has published results for the year to August 2019 and the subsequent interims. Following these announcements, trading in the shares has resumed. There was strong growth in the interim figures with revenues of £116,000 but there was still a loss of £75,000. The working capital facility has been increased to £500,000.
Cannabis products supplier World High Life (LIFE) says it intends to list on the Canadian Stock Exchange. Revenues were £1.05m in the nine months to March 2020. Write-offs meant that the loss was £11.3m. Subsidiary Love Hemp’s online sales in May were double the level in January. Sales have switched from high street to online. There will be a rebrand in September
Engineering businesses consolidator Vulcan Industries (VULC) has raised a further £179,000, including £65,000 raised by share issues to employees at 2p a share. There were also shares issued at 4.25p each. The placing price was 3p a share and creditors are taking shares at that price valued at £175,000 in lieu of flotation costs. The current share price is 4.5p (4p/5p).
Gunsynd (GUN) is raising £600,000 at 0.65p a share and this will be used for further investments.
KR1 (KR1) has participated in the Plasm token distribution. KR1 has 1,232 Ether (ETH) valued at $253,000 which it has agreed to be locked up. Access will be obtained in three intervals over 1,000 days. In return for the lockup KR1 receives 66.3 million Plasm tokens. Plasm is launching a platform on the Polkadot blockchain.
Cadence Minerals (KDNC) has raised £650,000 at 9p a share. The cash will be used to help develop the Amapa iron ore project and pay off loan notes. The stockpile of iron ore should be shipped during the summer. Cadence and the joint venture partners are in discussions with creditors. A scoping study will be commissioned.
The Australian government has approved the acquisition of the Beaconsfield gold mine in Tasmania by NQ Minerals (NQMI). This will enable the mine to be reopened. NQ Minerals has raised £119,000 at 7.5p a share.
Walls and Futures REIT (WAFR) has sold a residential property in Wimbledon Park for £656,000, so that it can reinvest the cash in the core supported housing business. The sale was at a 3% discount to book value.
British Honey Company (BHC) has launched a Special Charity Edition Premium Vodka to raise money for COVID-19 research. One-quarter of sales revenues will go towards funding this research.
Lombard Capital (LCAP) has completed the purchase of a property in Preston. Barry Fromson has been appointed as chief executive and Barry Fitzpatrick as non-executive chairman. Trading in the shares has been suspended.
Sport Capital Group (SCG) had an investment property and nearly £12,000 in the bank at the end of 2019. NAV is £206,000.
AIM
Bahamas Petroleum (BPC) and Columbus Energy (CERP) are merging. Columbus shareholders will receive 0.803 of a BPC share for each share they own. Columbus was valued at £25m when the deal was announced. Columbus will generate cash to help finance exploration by BPC.
Escape Hunt (ESC) is raising up to £4m via a placing and one-for-four open offer at 7.5p a share and a convertible loan note issue of £340,000. The escape rooms operator says all the directors are buying shares. The intention is to spend £2.5m on rolling out more sites and the rest will go on operational improvements and working capital. Five or six new sites are planned in the next 12 months. UK sites were growing revenues prior to lockdown.
Hummingbird Resources (HUM) intends to acquire the Kouroussa gold project from Cassidy Gold Corp. First gold production could be within two years. There is a gold resource of 1.18Moz at >3g/t.
Hawkwing (HNG) plans to move to a standard listing. Formerly TLA Worldwide, trading in the shares is suspended because the shell has not found a suitable acquisition. Hawkwing would lose its AIM quotation in September without an acquisition. There is no time limit on acquisitions for shells on the standard list.
Ilika (IKA) had cash of £14.9m at the end of April 2020. The battery technology developer is choosing a fabrication facility for the manufacture of its batteries. Four potential partners are in the running. A tool that will increase productivity has been ordered and should be delivered by the end of 2020.
Dekel Agri-Vision (DKL) produced less crude palm oil during May because of a decline in fruit delivered to the mill. There were 3,316 tonnes of crude palm oil produced in May, down from 5,316 tonnes in May 2019. However, more was sold during the month because of the much higher production in April. The average price received per tonne increased.
Be Heard (BHRD) has received a bid approach of 0.5p a share from MSQ Partners.
MAIN MARKET
Lower energy prices have led to a fall in the net asset value of JLEN Environmental Assets (JLEN) but it continues to generate cash and pay dividends. NAV has fallen from 104.7p a share to 97.5p a share. Total dividends were 6.66p a share last year and the target for this year is 6.76p a share. JLEN is joining the FTSE 250 index on 22 June.
Air Partner (AIR) is raising £7.5m at 75p a share. Profit was ahead of budget in the four months to May 2020 with strong freight demand. There is also recovery in the private jets market. The cash will fund organic growth including the opening of offices in new locations.
Seafox International has attempted to requisition a general meeting at Gulf Marine Services (GMS) in order to appoint its representatives to the board. GMS says that the requisition is not valid in its current form. Hassan Heikal and Hesham Helbouny are the proposed directors.
Boston International Holdings (BIH) has secured a new £200,000 loan facility from a major shareholder. The plan is to acquire invoice factor Alexanders Discount.
Associated British Engineering (ASBE) is selling its interest in British Polar Engines and this will mean that it will no longer have any commitments to the pension fund. There will be no debt if the deal goes ahead.
Small Cap Awards 2020
The shortlist for the 2020 Small Cap Awards has been published. The awards are for quoted companies with a market capitalisation of less than £200m. This year the awards dinner has been cancelled. Instead, there will be a live virtual awards ceremony held via Zoom on 25 June. There are eleven awards for companies and individuals.
Company Of The Year
Yourgene Health
Volex
Renalytix AI
SDI Group
Ergomed
Judges Scientific
IPO Of The Year
Diaceutics
Brickability Group
Essensys
Argentex Group PLC
Loungers
Pebble Group
Executive Director Of The Year
Matt Jones – CEO of Blancco Technology Group
Giulio Cerroni – CEO of Ixico
Lyn Rees – CEO of Yourgene Health
Jennifer Winter – CEO of Animalcare
Peter Harrison – CEO of Bioventix
David Cicurel – CEO of Judges Scientific
Transaction Of The Year
Centralnic Group – Team Internet
Rockrose Energy – Marathon Oil and Marathon West of Shetland Limited
Kape Technologies – Private Internet Access
Amryt Pharma – Aegerion
Totally – Greenbrook Healthcare
Inspiration Healthcare acquisition of Vio Holdings
Technology Company Of The Year
SRT Marine Systems
Oxford Metrics
Blackbird
Avacta
Blancco Technology Group
Reneuron
Innovative Financing Of The Year
Yu Group PLC
Simec Atlantis Energy
1pm PLC
Symphony Environmental
Impact Company Of The Year
Good Energy
Eden Research
ITM Power
Inspired Energy
Jubilee Metals
Ilika
Analyst Of The Year
Kartik Swaminathan, Arden Partners
Peter McNally, Panmure Gordon
Jens Lindqvist, Investec
Lorne Daniel, Finn Cap
Kai Korschelt, Canaccord Genuity
George O’Connor, Stifel London
Journalist Of The Year
Simon Thompson – Investors Chronicle
Michael Taylor – Investors Chronicle
Mark Shapland – Evening Standard
Joanne Hart – Mail on Sunday
Emma Agyemang – Financial Times
Hannah Godfrey – Professional Adviser
UK Smaller Companies Fund Manager Of The Year
ASI UK Smaller Companies – Harry Nimmo
JPM UK Smaller Companies – Georgina Brittain and Katen Patel
M&G Smaller Companies – Garfield Kiff and Rory Alexander
Invesco UK Smaller Companies Equity (UK) – Jonathan Brown
TM Cavendish AIM B – Paul Mumford
Kames UK Smaller Companies – Elaine Morgan
VCT Manager Of The Year
Amati AIM VCT PLC – Dr. Paul Jourdan, David Stevenson, Anna MacDonald
Unicorn AIM VCT PLC – Chris Hutchinson
Octopus AIM VCT 2 PLC – Kate Tidbury
Maven Income and Growth VCT 1 PLC – Bill Nixon
Seneca Growth Capital VCT PLC – John Davies
Hargreave Hale AIM VCT 1 – Oliver Bedford
Andrew Hore
Ian Pollard – Bronhill To Pay Maiden Dividend
Bronhill Group BONH saw revenue rise to £8m compared to £2.6m for the year to the end of March 2018. Adjusted EBITDA increased to £0.9m from a loss of £0.4m and net assets jumped from £2m to £22.9m for the nine months to the 31st December. Arrangements are also under way for a maiden dividend to be paid for the six months to the 30th June.
Spectra Systems SPSY has excellent prospects for maintaining strong earnings in 2019.and expects the annual dividend to be increased by 17% for payment in June, after a rise in profit before tax of 19%. For the year to 31st December, net income rose by 24%, adjusted earnings per share by 11% and EBITDA by 16%.
Be Heard Group plc BHRD Despite a difficult start to 2018, which resulted in management changes becoming necessary, the year finished strongly with group revenue rising by 51% and like for like revenue up by 15%. Adjusted EBITDA increased by 90%. The operational loss for the year to 31st December came in at 9.7m but the company has now produced nine consecutive months of profitability up to February, with strong organic growth.
MediaZest plc MDZ has faced a difficult economic background since the interim results were announced on the 5th November. Accordingly the Board now expects the full year results for the year ended 31 March 2019 will be below current market expectations, although they will still be an improvement on the previous year. the Group’s trading results for the second half of the financial year (6 months to 31 March 2019) are expected to be lower than the first half of the year. A small loss after tax is now expected for the year end..New business , combined with recurring revenue contracts, will provide the Group with a base for further growth over the next 12 months.
Beachfront villas & houses for sale in Greece; http://www.hiddengreece.net
Andrew Hore – Quoted Micro 8 January 2018
NEX EXCHANGE
Kryptonite 1 (KR1) has invested $249,000 in a presale of 4,775,686 Simple tokens in a project administered by OpenST Ltd. The plan is for the tokens to be used to enable digital currencies to be launched by businesses. There has also been a $100,000 investment in the presale of tokens in the Props project. That bought 859,569 Props tokens. These tokens are used as a cryptocurrency as part of a decentralised ecosystem of video applications.
DagangHalal (DGHL) has launched its mobile app MEEMBAR (meaning raised platform in Arabic), which is targeted at Muslim travellers, on the Android platform. The app provides details of mosques, hotels and restaurants in an area. The app will become available on the IoS platform later this year. Longer-term, the company wants to introduce the ability to undertake transactions.
AIM…….
Housing developer Inland Homes (INL) ended the year strongly, selling two sites for a total of £12.7m. Inland Partnerships, which develops social housing, has entered into a £29.5m contract to develop 136 homes.
Kestrel Partners has taken a 4.32% stake in telematics equipment and services provider Trakm8 (TRAK).
Gear4Music (G4M) says that Christmas sales grew by 42%. The online musical instruments retailer is still on course for a full year profit of £2.4m.
Peter Scott is taking on the role of chief executive at digital marketing services provider Be Heard Group (BHRD) and David Morrison will replace him as chairman.
Smart metering technology supplier CyanConnode (CYAN) says that its order book is in excess of $100m even though a large order has been delayed. There was £5.5m in the bank at the end of 2017.
Cambria Automobiles (CAMB) has announced a new Lamborghini dealership in Chelmsford on the same site as the Bentley dealership. The showroom should be open by the end of the first quarter. A new site in Hatfield to house the new McLaren dealership and the company’s other dealerships in the area should be completed by the end of the year. Cambria is still cautious about the UK car market. Trading in the first quarter is in line with expectations. Chairman Philip Swatman and his wife sold 100,000 shares at 57p a share, leaving them with 200,000 shares.
Marble quarry operator Fox Marble Holdings (FOX) is raising £2.76m through a placing at 10.5p a share and Indian firm Kesari Tours PVT is investing £2m of the cash. Kesari boss Shailesh Patil has committed to buying a minimum of 3,000 tonnes a year of marble in return for exclusivity in the Arabian Gulf. Fox is also raising £235,000 via a convertible loan note issue and capitalising £783,000 of debt. Directors are also taking part of their pay in the form of shares. Fox will use £1.5m of the cash to repay debt and the rest will go towards expanding production. Total marble production was 8,800 tonnes in 2017. The new processing facility has capacity of up to 440,000 square metres a year so it will be able to cope with much higher quarry production.
Network data processing technology supplier Ethernet Networks Ltd (ENET) has disappointed the market six months after flotation. A customer has chosen to sign up to a different proposal than expected and two other projects have been delayed until 2018. This means that 2017 revenues and profit will be lower than anticipated, although profit will be higher than 2016. In 2016, revenues were $2.16m and operating profit was $339,000, which was exceeded in the first half of 2017 even though revenues were much lower.
Victoria Oil and Gas (VOG) says that its gas supply contract with ENEO in Cameroon has not been extended. This had covered 53% of Logbaba gas sales revenues in 2017. ENEO owes $8.7m.
Churchill China (CHH) says that its 2017 results will be slightly better than expected thanks to strong export sales. Full year figures will be published on 27 March.
Strand Hanson has resigned as nominated adviser to BNN Technology (BNN) following news that the company failed to account for a bonus claimed by Darren Mercer. The £270,000 bonus has been offset against the £450,000 he owes the company. Mercer also claims that the remaining amount of the loan should be reduced.
Corero Network Services (CNS) has gained $400,000 of contracts for its SmartWall cyber security system.
Ultrasound simulation technology provider Medaphor Group (MED) says that 2017 revenues were 27% ahead at £4.2m. The loss will be £2.9m. There was £4.2m in the bank at the end of 2017.
Cantor Fitzgerald has downgraded its 2017 profit forecast for waste treatment and energy generation plants developer Green and Smart Holdings (GSH) from RM7m to RM6.7m and the 2018 figure from RM16.9m to RM10.8m because of delays to electricity generation projects. Local project finance is taking longer than expected to secure.
Attractions designer Paragon Entertainment Ltd (PEL) chief executive John Dobson has acquired 1.43 million shares at 2.5p each. That increases his stake to 6.55%. This has helped the share price to recover after almost a year of decline following disappointing trading statement.
Babestation producer Cellcast (CLTV) says that it intends to provide for the £495,000 it had invested in the Lexinta fund, which is being investigated by the Swiss authorities. The investment vale had been raised to £754,000 in the last accounts. This appears to be in the trade receivables in the balance sheet last June. There was £862,000 in cash in the bank.
European PR firm SEC (SECG) has acquired 51% of Colombia-based Newlink for up to €2.2m and this could rise to €4.3m if the option to acquire the rest of the shares is taken up in the next five years.
TyraTech Inc (TYR) will buy back $8.4m worth of shares at the tender price of 3p a share.
Oil and gas firm San Leon Energy (SLE) has ended bid discussions with two potential bidders. A potential reverse takeover is still on the cards.
Even though Crawshaw Group (CRAW) says that the performance of its factory shops has been good, like-for-like sales for the delicatessen products retailer have declined. This has led Peel Hunt to increase its loss forecasts for this year and next year as like-for-like revenues are expected to continue to decline.
Egdon Resources (EDR) has had its appeal for planning permission for the Wressle oil development in Lincolnshire. Egdon owns 25% and Union Jack Oil (UJO) has a 15% stake. Egdon has been allow to retain the original planning permission until the end of April.
ReNeuron (RENE) is consolidating 100 shares into one new share. Management hopes that this will help to attract institutional investors. The cell-based therapeutics developer had £45.3m in the bank at the end of September 2017.
Christopher Brown is stepping down as chief executive of TomCo Energy (TOM) but he will remain for the short-term. He has agreed to loan £100,000 to the company.
Packaging machinery manufacturer Molins (MLIN) is changing its name to Mpac following the sale of the Molins tobacco machinery business.
The People’s Operator (TPOP) has returned from suspension having completed its £2.82m fundraising at 0.1p a share. The London Stock Exchange says that the settlement of outstanding trades is occurring and it allowed the restoration in dealings, but it says that it will continue to closely monitor the situation.
BOS Global Holdings (BOS) has appointed Marcus Yeoman, Will Giles and Michael Wilczynski to the board andMark Uren has resigned, which means that it does have the minimum required number of three directors. The finances of the software developer remain uncertain and trading in the shares is still suspended. A general meeting requisition has been withdrawn.
Average oil production from the Trinidad operations of Range Resources Ltd (RRL) in the fourth quarter of 2017 was 629 barrels a day and the current daily production is 703 barrels a day.
Premier African Minerals (PREM) did not meet its guidance on production at the RHA tungsten mine in the last quarter of 2017 and this means that it did not achieve profitable production in December. Premier has said that it would not provide any more cash unless profitability were achieved. Premier is spinning off the Zulu lithium project, which could have a value greater than Premier, and drilling programmes could be funded by offering a stake in the new company.
MAIN MARKET
Cayman Islands-based cash shell AIQ Ltd (AIQ) (ww.aiqhub.com) is joining the standard list on 9 January. AIQ has raised £3.6m after expenses, mainly at 8p a share. The plan is to seek an e-commerce acquisition, which has a strong management and is near to cash generation.
North American oil and gas explorer and producer PennPetro Energy (PPP) acquired Nobel Petroleum UK last May, which gives it a 75% working interest in City of Gonzales petroleum leases in Texas. Nobel has secured £2m in additional funding for the leases. PennPetro joined the standard list and was valued at £17.7m at 25p a share. Former Arsenal managing director Keith Edelman is chairman.
Andrew Hore
BAE Systems; Orders Up by 50% As British Industry Gains Momentum
RSA Insurance Group RSA is delighted with its strong first half results which are littered with repeated references to outperformances as if they had just invented the word. Shareholders get to share in the jollity with a 32% rise in the interim dividend to 6.6p per share, up from last years 5p. Restructuring has now been completed and underwriting results were not only a record, they were “noisy” as well, which is a good thing apparantly.
Smurfit Kappa Group SKG claims a good set of results with strong demand in most marketsfor the six months to the 30th June but set against a background of unprecedented and continued price inflation which cost the company £75m. Revenue rose by 5% but profit before tax for the laf year fell by 21%, rising to 26% in the second quarter. Basic earnings per share fell by 18% and EBITDA was down 4%. It is expected that the second half should start to see the recovery of price inflation costs, through higher prices.
BAE Systems BA is further evidence that British industry is still alive and kicking although BA is far more modest in its claims, stating only that its performance in the six months to the 3th June was as expected and consistent with guidelines. On a constant currency basis sales rose by 3%, underlying earnings per share by 36% and underlying operating profit by by 11%. The interim dividend gets a small lift from 8.6p. to 8.8p per share. Order intake during the half year increased substantially by £3.6bn to £10.7bn
William Hill WMH Headlines saw profit before tax for the half year to the 27th June, fall by 7% and basic earnings per share down by 2%, despite wagering growth across each of its four divisions and a rise in net revenue of 3%. It headlines the results as showing continuous momentum without bothering to stress that the momentum seems to be in the wrong direction, save for the fact the interim dividend does get an upward lift of 4%
StatPro Group SOG Despite a 23% rise in revenue for the half year to the 30th June and a 64% rise in adjusted earnings per share,, the loss before tax virtually tripled from £0.96m to £2.29m. The interim dividend is being maintained at 0.85p per share.
Be Heard Group BHRD which is still in the early stages of its development, saw net revenue for the half year to the 30th June, surge by 155%, helped by contributions from acqisitions, as well as from recent new business wins.