Home » Posts tagged 'JWNG'

Tag Archives: JWNG

Quoted Micro 13 January 2025

AQUIS STOCK EXCHANGE

Good Life Plus (GDLF) has launched more partnerships in the past three months, including with Reach and News UK. The family interests of Mark Blandford are subscribing £1m for an issue of convertible loan notes with up to £1m more on offer to other investors until the end of January. The cash will be invested in expanding customer acquisition and partnership, plus to enhance the premium prize draw operations. There are also plans for international expansion.

Healthy snacks supplier S-Ventures (SVEN) has published its results for the 15 months to December 2023. This is part of the work that is required to be in a position to reverse the operating subsidiaries into AIM shell Riverfort Global Opportunities (RGO). Annualised revenues grew 170% to £20m. The cash outflow from operating activities was £1.4m in the 15 month period.

Oscillate (MUSH) has appointed Robin Birchall, a former director of Helium One Global, as chief executive and Steve Xerri becomes an executive director. Robin Birchall will receive options over 2% of the current issued share capital at a price equivalent to the share price at the time of a move to AIM or other Recognised Investment Exchange, plus he will receive a payment to buy 4.25 million shares. Igraine (KING) has reduced its shareholding in Oscillate from 5.05% to 3.64%.

Automotive electrification technology developer Equipmake (EQIP) has received approaches from strategic investors and potential acquirers. Discussions continue. In the six months to November 2024, revenues improved 19% to £2.47m with EV components revenues increasing 80% to £254,000. There was a cash outflow from operating activities of £2.37m and capital spending of £686,000. Bus repowering services are being scaled down because of low volumes and this will save £2m/year. There was £2m in the bank at the end of November 2024. The contracted order book is worth £11m.

Zentra Group (ZNT), which was previously One Heritage, has signed a new relationship agreement with 65.2% shareholder One Heritage Property Development. This ensures at least two independent directors and the majority shareholder’s nominated director will not vote on outlined matters.

RentGuarantor (RGG) has raised £455,000 from a convertible loan notes issue to RentGuarantor chief executive Paul Foy. They are redeemable on 18 November 2026.

Chris Akers has a 5.1% stake in Global Connectivity (GCON), while Chris New increased his shareholding from 8.88% to 9.75%. Keith Harris raised his stake from 9.98% to nearly 11%. Premier Miton has increased its shareholding from 4.74% to 5.21%, while Placifor Investments raised its stake from 9.76% to 10.7%. Livia Meyer’s stake has reduced from 16.97% to 8.78%. Barry Hersh has still not paid the £375,000 subscription amount for 37.5 million shares.

ChallengerX (CXS) has raised £120,000 via a convertible loan note, which is convertible into 120 million shares when the company is readmitted to Aquis. The cash will fund due diligence on potential acquisitions.

Ace Liberty and Stone (ALSP) chairman Dr Antonios Ghorayeb bought 23,940 shares for a total of £11,475 in September and October. The announcement is late.

AIM

Data and marketing services provider Jaywing (JWNG) has sent out the circular to gain shareholder approval for the cancellation of the AIM admission. This follows a requisition notice by 29.5% shareholder Michael Ashcroft and the company has decided that the departure from AIM is in the best interests of the shareholders. The general meeting is on the 5 February.

It has been a topsy turvy week for legal services provider RBG Holdings (RBGP). It initially terminated the consultancy agreement of Ian Rosenblatt due to breaches of contract and offensive behaviour. He has restrictive covenants lasting until July 2028, but was identified as owner of AWH Acquisition Corp, which is regulated as a firm of solicitors that changed its name to Rosenblatt Law. He is a director of this company along with former RBG Holdings director Tania MacLeod. Ian Rosenblatt had requisitioned a general meeting to remove Jon Divers as chief executive of RBG Holdings. At the end of the week after the market closed, RBG Holdings said it had entered into an exclusivity period with Ian Rosenblatt for the sale of the Rosenblatt brand business to Rosenblatt Law. Ian Rosenblatt will withdraw his winding up petition and the general meeting notice. This exclusivity lasts until 24 January.

Downhole oil and gas technology developer Enteq Technologies (NTQ) says testing of the SABER rotary tool results in the requirement for further engineering modifications. Delays to the start of active test drilling with an Australian customer mean that the timing of revenues is uncertain. The drilling could begin in April. There are also additional costs. This means that cash will not last as long as previously expected and Cavendish has pulled its forecasts. Enteq was expected to move into profit in 2026-27.

There was a strong end to the year for floorcoverings distributor Likewise (LIKE). The market fell but Likewise continues to grow. Fourth quarter revenues were 10% higher than the corresponding period. Full year revenues of £150.8m was 3% ahead of forecast. A new logistics centre has been acquired in Plymouth.

Team Internet Group (TIG) announced that it had received two bid approaches from TowerBook Capital Partners and Verdane Fund Manager AB. Each of the potential bidders was proposing an offer of 125p/share. Previous approaches were rejected for being too low. Both approaches are being considered. TowerBook Capital Partners has since decided not to bid.

Pawnbroker H and T (HAT) says 2024 trading was in line with expectations. The pledge book increased 26% to £127m, with more loans of over £5,000. There was strong demand for lower price jewellery, which boosted retail sales. National Insurance changes will increase costs by £2m/year. Octopus Investments has cut its stake from 10.9% to 9.98%. The 2024 results will be published on 18 March.

ImmuPharma (IMM) says the preclinical research programme for autoimmune therapy P140 should pave the way for earlier, more accurate diagnostics, as well as better identification and improved monitoring of patients. Detailed data is not being published.

Plastic products supplier Coral Products (CRU) has sold and leased back two freehold properties for £1.7m. The initial annual payment of the 15-year lease is £155,000. The £1.1m of related mortgages will be repaid. A final agreement for the insurance claim for the May 2020 fire at one of the company’s premises has resulted in a payment of £900,000.

Arecor Therapeutics (AREC) is ceasing the operations of Tetris Pharma and it is returning the rights to Ogluo, a glucagon auto-injector pen for severe hypoglycaemia, to Xeris BioPhaarma. A partner of Tetris Pharma lost a key NHS Tender, which means revenues will be lower than expected in 2025. There will be a £3m write down. This enables Arecor Therapeutics to concentrate on core products, including ultra-rapid acting insulin candidate AT278, where partner discussions continue.

Automated transport analytics provider Cordel (CRDL) has won a new contract with Angel Trains. It will pinpoint track geometry data from high-speed passenger trains, rather than dedicated monitoring trains. This should help to reduce costs. The technology is Network Rail certified.

A trading statement from animal feed additives supplier Anpario (ANP) has sparked the fifth upgrade to 2024 forecasts. There was strong growth in Middle East and Africa. Shore has raised its pre-tax profit forecast to £5.5m, compared with £3.5m in 2023. Net cash is estimated to be £10.5m.

MAIN MARKET

Kitchenware retailer ProCook Group (PROC) had a strong third quarter, which is the third quarter in a row where the growth rate has accelerated. Third quarter revenues were 11% higher at £25.6m, which means that the year-to-date figure is 9.2% ahead at £54m. Third quarter growth in retail was 12.4%, helped by store openings. Three more stores will be opened in the fourth quarter. Ecommerce growth was 9.2%. Like-for-like growth to December 2024 was 3.8% with ecommerce growing fastest. Net cash was £1m at the end of 2024.

Andrew Hore

Quoted Micro 20 February 2023

AQUIS STOCK EXCHANGE

EDX Medical Group (EDX) acquired Torax Biosciences for the issue of 1.67 million shares at a notional 6p each. Torax provides development and pilot scale fabrication of immunochemistry-based assays and diagnostic testing services. The experienced team at Torax was an attraction.

Marula Mining (MARU) signed a co-development and relationship agreement with a subsidiary of South African mining and investment company Q Global Commodities, which had already agreed to subscribe £3.75m for shares. Q Global chief executive will become Marula Mining chairman, subject to regulatory approval and admission to AIM. Marula Mining is expanding its graphite interests through the proposed purchase of a 75% stake in ten licences comprising the Nyorinyori graphite project in Tanzania.

Electric vehicle drivetrains developer Equipmake (EQIP) reported more than halved interim revenues from £2.32m to £1.05m and the loss increased to £2.76m. There was cash of £7.44m at the end of November 2022. The contracted order book is worth £9.1m. That includes 100% of second half expected revenues as well. There have been delays in delivering vehicles to First Group, so these will be in the 2023-24 figures.

Energy supplier Good Energy (GOOD) has launched a new smart export product for Feed-in Tariff for FiT customers, which could help them to earn more from electricity they generate. There are plans for a new domestic export tariff for households in the next few months.

AQRU (AQRU) has incorporated the London Carbon Exchange and it has a wating list of investors interested in using the platform when it is launched later this year. The platform allows trading in the voluntary carbon market.

RentGuarantor Holdings (RGG) has entered a three-year agreement with X1 Property Management, a residential and student letting company, which hopes to generate secure tenants.

Digital asset investor Kasei Holdings (KASH) raised £500,000 at 12p a share from Aalto Capital. This is a 12.5% stake. ChallengerX (LON: CXS) raised £250,000 through a share issue to Aalto Capital at 0.45p a share. An equal number of warrants exercisable at 0.45p each were also issued.

Spirits company Rogue Baron (SHNJ) non-exec Charlie Wood acquired an initial 600,000 shares at 0.846p each. He also has an interest in the 1.1 million shares owned by Orana Corporate, where he owns 25%.

Hikmat El Rousstom has resigned as non-exec director of Ace Liberty & Stone (ALSP), while at British Honey Company (BHC) Sophie Guifang Luo stepped down from the board to pursue other interests.

Love Hemp (LIFE) has withdrawn from trading on the Aquis Stock Exchange as of 14 February. Trading in Pioneer Media Holdings Inc (PNER) will end on the Aquis Stock Exchange on 9 March.

AIM

Purplebricks (PURP) is launching a strategic review because the board believes the company is undervalued. The share price slumped to 7.86p, which is a new low. Changes to the estate agency business have disrupted the third quarter performance. Instruction numbers were lower than expected. Management has identified an additional £4m of annualised cost savings. There will be £1.2m of one-off costs in the second half. The full year adjusted EBITDA loss will be between £15m and £20m. It was previously expected to be around £10m.

Semiconductors designer EnSilica (ENSI) moved into operating profit in the first half and momentum has continued in the second half. A €5m contract has been won to develop a chip for the satellite communications market, which will start generating revenues in 2023-24. Interim revenues are nearly one-quarter higher at £8.59m. The growth came from design and supply. There was a pre-tax loss of £202,000, but R&D tax credits meant that there was a £322,000 profit after tax. A small full year pre-tax loss is forecast for the full year with a £844,000 post-tax profit.

Semiconductors designer Sondrel Holdings (SND) says the project design for a customer in the automotive sector has been delayed because project design will not be completed until the first quarter of this year. The payment for the first milestone was in January and the second will not be until May. The 2022 loss is higher than forecast and there will still be a small loss in 2023.

Esports company Gfinity (GFIN) raised £2m at 0.15p a share, having originally sought £1.5m. The cash should last for 12 months. Technology platform Athlos still requires a strategic partner and there is enough funding for this for around four months. If not, then it could affect the restructuring and other plans for the rest of the business. At 0.1575p, down 33%, the current share capital is valued at Gfinity at £2.1m. Each placing share comes with a warrant to subscribe for one share at 0.15p and these warrants are exercisable between six and 18 months after the placing shares are admitted to AIM.

Fertiliser producer Harvest Minerals (HMI) had cash of A$2.72m at the end of 2022. Sales of KPFertil are growing and that has enabled the repayment of A$1.2m of debt. A court ruling requires Agrocerrado to pay $463,000, because it failed to acquire the minimum tonnes of KPFertil required by the agreement between the companies.

Medical devices developer Creo Medical (CREO) raised £28.5m from the placing at 20p a share, which was more than the £25m initially targeted. The cash will be used for further development and commercialisation of Creo Medical’s minimally invasive electrosurgical devices. With up to £5.2m more to come from the open offer, Cenkos believe that this is enough cash to fully commercialise the current product portfolio. Revenues of £100m are forecast by 2027.

Clontarf Energy (CLON) is forming a joint venture with US-based NEXT-ChemX Corporation, which covers the deployment and marketing of the latter’s direct lithium ion extraction technology in Bolivia. There is limited water and energy consumption with this technology. The share price soared by 129% to 0.172p. Pilot testing and extraction starts in March. Clontarf Energy will contribute $500,000 towards the pilot plant for exclusive use of the technology. There will also be share issues to NEXT-ChemX.

Promotional goods supplier software platform provider Altitude (ALT) says results for the year to March 2023 will be much better than expected. Zeus has upgraded its pre-tax profit forecast from £500,000 to £800,000 and that is the second upgrade in three months.

Deferral of contracts by clients has led to forecast downgrades for Jaywing (JWNG) and 2022-23 pre-tax profit expectations have been more than halved to £1m, while next year’s forecast has been slashed from £3.7m to £2m. The digital marketing services provider won an Australian online education services contract which will help to offset some of the decline in forecast revenues in 2023-24.

Mkango Resources (MKA) raised £3.5m at 12.5p and this will fund further development of the Songwe Hill rare earths project. Talks with potential funders for the project continue. Mkango Resources will also provide a €2.5m loan facility in HyProMag, which is developing a rare earth recycling production facility in Baden-Wurttemberg. The company’s stake in HyProMag could increase to 66.8%. Chief executive William Dawes acquired 400,000 shares at 12.95p each and 400,000 shares at 12.75p each. He owns 4.42%

WH Ireland has reduced its forecasts for SaaS-based retail software provider itim Group (ITIM) because of contract delays. Revenues for 2022 will be slightly below previous forecasts and that increases the loss by £200,000 to £1.1m. The 2023 loss is expected to be the same. Annualised recurring revenues are £13m, which is lower than expected. Net cash is £3.9m.

Mark Horrocks has increased his stake in cloud-based international payments services provider Cornerstone FS (CSFS) from 8.66% to 13.4%.

Dekel Agri-Vision (DKL) achieved record local process for its crude palm oil in January and there were strong extraction rates from the fruit bunches. However, there were disappointing volumes because of aggressive rival bidding for fruit bunches, although this has eased this month. There no changes to 2023 expectations of a sharp rise in profit.

MAIN MARKET

The ignominious life of Hawkwing (HNG) as a quoted company appears to be coming to an end. Kroll Advisory has been appointed administrator to the company. Hanover Investment Management demanded repayment of £2.2m relating to a convertible loan note. Hawkwing is owed £13.7m plus interest and add-ons by IFG (SPP), where liquidators have been appointed. This is secured on two subsidiaries and their assets, but it is uncertain how much can be clawed back. The cash shell was formerly sports representation and marketing company TLA Worldwide, a past AIM embarrassment which released a profit warning after the market had closed for Christmas.

Zamaz (ZAMZ) has acquired Dallatte Italia, a manufacturer of dairy products. This fits with the Bella Dispensa subsidiary and its Made in Italy ecommerce service. Management wants to change the terms of its bonds by extending their life and increasing the interest rate.

Trading in Net Zero Infrastructure (NZI) shares recommenced last week following publication of accounts and interim figures. The share price fell from 2.2p to 1.55p.

RC365 Holding (RCGH) intends to issue 18 million shares to Hatcher Group Ltd and in return it will receive 38.64 million shares in Hatcher Group. The two firms will collaborate in research and development of smart algorithm technology and other fintech services.

Andrew Hore

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.