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Andrew Hore – Quoted Micro 22 March 2021
AQUIS STOCK EXCHANGE
Rogue Baron (SHNJ) has sold a shipment of 857 cases of Shinju Japanese whisky in the US. Each case of six bottles sells for up to $150. There was a total of 9,000 bottles of Shinju sold in 2020. US sales are growing so quickly that the company has decided to focus on the market and delay moves into other markets.
KR1 (KR1) has invested a further $150,000 in Vega Protocol in exchange for 194,999.17 VEGA tokens and made an initial $200,000 investment in the Starks Network. KR1 has also generated a further 77,542.92 Polkadot tokens and they were sold for $1.85m. KR1 still has nearly 3.5 million Polkadot tokens. Mona Elisa has been appointed as a non-executive director.
Block Commodities (BLCC) and Century Cobalt Corporation have entered an option agreement to acquire a 70% interest in a medicinal cannabis licence granted to Magnus Cannabis Group in Zimbabwe. Each of the buyers will hold a 35% interest. The option fee is £50,000. The payment for the interest will be £1.5m in Block shares at 0.07p each and £1.5m of Century Cobalt shares. Block no longer intends to acquire Sierra Leone-based Greenbelt Company.
Chris Akers has increased his stake in Quetzal Capital (WENP) from 9.4% to 15.2%.
Love Hemp (LIFE) has signed a five-year sponsorship agreement with UFC.
David Rigoli is joining the board of Veni Vidi Vici (VVV) and he has an interest in electric vehicle commodities.
AfriAg Global (AFRI) is holding a general meeting on 12 April to gain shareholder approval for the reverse takeover of Apollon Formularies Ltd. AfriAg will change its name to Apollon Formularies.
Wheelsure Holdings (WHLP) has raised £25,000 at 13.5p a share.
AIM
Online fashion retailer In The Style (ITS) joined AIM last week. The share price increased from the 200p placing price to 235p. Existing shareholders raised £46.8m from share sales, while there was £9.1m net raised by the company. There will be more investment in the technology platform and there are plans for an international version of the company’s app.
Underlying 2020 revenues at digital payments business Boku (BOKU) were one-fifth higher at $56.4m helped by a six-month contribution from Fortumo. Profit grew even though there was a higher loss from the identity division. There was net cash of more than $50m at the end of 2020, although that includes cash held on behalf of others. In 2021, there should be further growth in digital payments and an improved performance by the identity division.
Trading at document management and technology recycling business Restore (REST) has continued to improve since the second quarter of last year. In 2020, revenues fell from £216m to 3183m, while pre-tax profit dipped from £36m to £23m. This year pre-tax profit should be getting back towards the 2019 level. There are opportunities for further add-on acquisitions.
Futura Medical (FUM) says that erectile dysfunction topical gel formulation MED3000 should be certified as a class 2B medical device which can be obtained without a prescription. This could happen by May. US approval is also progressing.
Diagnostic data provider and analyser Diaceutics (DXRX) was able to launch its DXRX platform at the end of 2020 and it is already winning projects and building up recurring revenues. In 2020, revenues declined from £13.4m to £12.7m and Diaceutics fell into loss. It should return to profit this year.
Renewable energy company Bion (BION) has opened an office in the UK in order to expand in Europe. Two biogas plants in Malaysia are selling electricity generated from biogas produced from palm oil mill effluent. Another two plants will be generating electricity in the next few months.
Trans-Siberian Gold (TSG) has recommended a 118p a share mandatory cash offer from Horvik, which has already agreed to acquire a 51.2% stake.
Telit Communications (TCM) is releasing DBAY Advisers from its restriction on making a bid within six months of previously ending bid talks.
Waterford Finance and Investment is making a mandatory offer for former AIM company Gulfsands Petroleum having bought the stake previously owned by ME Investments for £3.43m. Waterford is also taking ownership of the convertible loan notes owned by ME. Waterford had a 37.3% stake in Gulfsands and it is deemed to be acting in concert with Blake Holdings, owned by Richard Griffiths and James Ede-Golightly. The Waterford stake in the Syria-focused oil and gas company has increased to 52.45% and the combined stake is 83.93%. The bid is 4.035p a share.
CEPS (CEPS) subsidiary Hickton Group has acquired gas and electrical safety consultancy Millington Lord for up to £1.1m.
Dye and Durham no longer intends to bid for IDOX (IDOX), which has sold its Netherlands grants consultancy.
Tremor International (TRMR) has made a filing with the SEC ahead of a potential US listing. Tremor believes it would get a rating more in line with US Ad Tech companies.
Kodal Minerals (KOD) has raised £3.5m at 0.125p a share. This will be used to develop the Bougouni lithium project in Mali and to fund exploration of three gold projects.
MAIN MARKET
Caerus Mineral Resources (CMRS) joined the standard list last Friday after raising £1.92m net at 10p a share. The share price rose to 13p. Caerus is exploring for copper, gold and silver in Cyprus, having acquired New Cyprus Copper, which owns 70% of a company with 12 exploration licences in four project areas in Cyprus. Completion of a work programme will earn a further 20% stake in the subsidiary with the opportunity to acquire the other 10% within 12 months of the work programme for A$2m.
Supply@ME (SYME) has signed heads of agreement to acquire Singapore-based commodities trade enabler TradeFlow Capital Management.
Standard list shell Marwyn Acquisitions Company 1 (MAC1) is raising £130m at 100p a share. Vin Murria has joined the board and she will be investing £17.5m for a 13.1% stake. Murria is likely to seek a large international software acquisition for this vehicle.
Sanofi is terminating its licence agreement with Oxford Biomedica (OXB) but there should not be any significant impact on medium-term revenues.
Toople (TOOP) continues to reduce monthly cash burn. The proceeds of a sale of 1.05 million shares at 0.06p each by the wife of the boss of a subsidiary will be used to repay a £462,000 loan.
OTAQ (OTAQ) has invested $150,000 and converted its loan notes in Minnowtech, which has developed an imaging product using OTAQ sonar technology. This gives OTAQ a 15.2% stake.
CML Microsystems (CML) says shareholders should receive 50p a share in cash by 26 March. Net cash will be more than £30m after this payment, which comes out of the proceeds of the disposal of the storage division. The continuing communications business generated slightly higher revenues in the second half than in the first half. Orders are improving.
Antimicrobial materials technology developer HeiQ (HEIQ) has signed a five-year contract with ICP, which develops thin film coatings for packaging. ICP will use HeiQ Viroblock in its coatings. This could be worth $8m in the first two years. Over five years the royalty revenues should be $30m. This follows a deal with Berger Paints, which could generate $600,000 over one year.
BATM Advanced Communications (BVC) has received around $29m for the completed disposal of NGSoft. The cash will be reinvested in network function virtualisation and molecular diagnostics.
Andrew Hore
Andrew Hore – Quoted Micro 18 May 2020
AQUIS STOCK EXCHANGE
Arbuthnot Banking (ARBB) says customer loan balances had increased by 4% in the quarter to March 2020. Customer deposits increased by 2%. There were net inflows to the investment management business despite the uncertainty in the markets.
Gunsynd (GUN) has extended the deadline for the Oyster Oil and Gas deal from 30 April to 30 October. If the conditions are not satisfied by October, then the sale of the Oyster shares can be terminated.
Inqo Investments (INQO) says that its February 2020 accounts may not be published until September because of delays to audits. The company’s investments have been affected by COVID-19. Kuzuko Lodge in South Africa was closed in early April and Inqo believes that it could take another two years to fully recover. Kentegra Biotechnology and South Lake Medical Centre in Kenya are both continuing to trade. Four One Financial Services could find trading difficult.
Eastinco Mining (EM.P) is completing the wash plant and starting operations at its tantalum mine in Rwanda. Cash is running out and management wants to raise cash through the exercise of warrants at 1.5p each. If 30% of warrants are exercised it will raise £700,000. If a shareholder exercises warrants, they will receive another warrant exercisable at 3p a share. The cash raised will finance capital investment and exploration.
NQ Minerals (NQMI) has raised £151,000 at 5.75p a share. SulNOx Group (SNOX) has raised £230,000 at 40p a share. Each share comes with a warrant exercisable at 40p.
Belvedere Leisure (BELV) says that the COVID-19 lockdown has stopped it obtaining additional subscriptions. Phase one of the company’s development will be split into two parts. The first 50 self-catering lodges are due to open next February.
Veni Vidi Vici (VVV) had cash of £354,000 at the end of 2019. The company is committed to paying A$300,000 towards initial spending of the joint venture that holds the Shangri La gold, copper and silver project in Western Australia.
Two directors and a managing partner of EPE have bought shares in EPE Special Opportunities (ESO) at 160p each. The total amount invested is £44,259. Boston Trust Company has increased its stake from 2.9% to 4.3%.
AIM
Amryt Pharma (AMYT) has moved into a positive EBITDA position in the first quarter, which is earlier than expected. The orphan drugs provider is on course to generate revenues of $172m this year. An underlying EBITDA of $19.5m is forecast for 2020 and that move above $50m next year. Amryt has cash on the balance sheet that is more than enough for its current requirements, but there is also debt, including convertibles. Net debt is expected to increase to $160m by the end of 2020 before reducing the following year.
Acquisitions helped Focusrite (TUNE) to grow in the first half. There was a decline in the revenues of continuing operations, although trading was strong in the corresponding period. Overall revenues were 24% ahead at £49.9m. there were first time contributions from ADAM Audio and Martin Audio (two months). Lower margins and higher interest charges meant that pre-tax profit fell from £7.15m to £6.38m. Focusrite has moved into a net debt position due to the money spent on acquisitions. Martin is likely to be hardest hit by lockdowns around the world due to its event-based customers, whereas demand for other products is holding up as people make music at home.
Payments platform provider Bango (BGO) has signed a new deal that should be worth £1.5m over three years and there is potential for it to be worth even more. Bango could move into profit this year.
Appreciate (APPS) says that the first 11 months trading was in line with expectations, but March trading was hit by COVID-19. Corporate activity has declined by around two-thirds, while Christmas savings have fallen 10%. There was still free cash of £30m at the end of March 2020. This year’s figures will be much harder hit by COVID-19 and profit is likely to plummet. Achieving a profit will be dependent on an upturn in the second half. Cash is also likely to decline.
MAIN MARKET
Diversified Gas and Oil (DGOC) moves from AIM to a premium listing on 18 May. Diversified has raised £69.4m at 108p a share. This cash will go towards financing two potential oil and gas asset acquisitions. Trident Resources (TRR) will be going in the opposite direction on 2 June.
Andrew Hore
Andrew Hore – Quoted Micro 17 December 2018
NEX EXCHANGE
Ecommerce software provider Netalogue Technologies (NTLP) moved into profit in the first half and had £648,000 in the bank at the end of September 2018. Revenues increased by £168,000 to £647,000, even though subscription-based pricing is reducing the initial revenues from B2B clients. A loss of £60,000 became a pre-tax profit of £142,000, helped by lower operating expenses.
Veni Vidi Vici Ltd (VVV) is acquiring a 51% stake in a licence in the Shangri La gold, silver and copper project in Western Australia for A$220,000, which is payable to Goldfields Consolidated in the form of 190,000 shares and A$20,000 in cash. The shares cannot be sold for three months. VVV will spend an initial A$300,000 over three years and Goldfields will receive a 10% management fee.
Coinsilium Group Ltd (COIN) has raised £367,000 at 4p a share and each new share comes with a two-year warrant exercisable at 7.5p a share. If the share price averages more than 15p for five consecutive days, then the company can require the warrants to be exercised.
Gastropubs operator Barkby Group (BARK) has signed heads of terms to acquire Northamptonshire-based upmarket car dealer Centurian Automotive Ltd. The most recent accounts were for a dormant company and shows £200 in the bank.
Quetzal Securities Ltd sold 6.75 million shares in Pelican House Mining (PHM) for 0.5p each and Eight Capital Partners (ECP) acquired 8.25 million shares at 0.491p each. Quetzal subsequently sold a further 6.75 million shares in Pelican shares, leaving a 13.2% stake, to Eight Capital at 0.5p a share, taking its stake to 15.3%.
Hydro Hotel, Eastbourne (HYDP) has declared an unchanged total dividend of 21p a share for the year to October 2018. An interim of 7p a share will be paid in January (ex-dividend 20 December) and a final dividend of 14p a share paid in May (ex-dividend 18 April).
Ace Liberty and Stone (ALSP) has appointed Northland as broker.
EPE Special Opportunities Ltd (EL.P) had a NAV of 200.95p a share at the end of November 2018. The shares are trading at 160p.
Construction consultancy Driver Group (DRV) reported a 2017-18 pre-tax profit of £3.8m, up from £2.5m, and it is returning to paying dividends with a 0.5p a share payment. Net cash is £6.9m, helped by a property disposal, and this could reach more than £10m by September 2019 even after dividend payments. The Diales expert witness business is becoming an increasingly important revenue generator and overall utilisation levels have improved. There has also been a focus on better margin work in the Middle East.
SigmaRoc (SRC) is in the process of acquiring precast concrete products supplier CPP Building Products for £15.2m, although the deal requires shareholder approval for share issues, so it will not happen until early January. CPP is based in north west England and fits well with the existing precast concrete business. In the year to August 2018, revenues were £20.9m and EBITDA was £2.6m. This year’s trading is in line with expectations. There are plans to refinance the convertible loan notes.
Nexus Infrastructure (NEXS) had already warned about delays to its utility connection contracts with housebuilders and the 2017-18 figures were slightly better than expected with flat pre-tax profit of £9.2m. Nexus has a strong order book and could increase its 2018-19 pre-tax profit to £10.4m. The new electric vehicle charging points division will take time to build up.
Advanced coatings provider Hardide (HDD) has benefited from an upturn in demand from the oil and gas sector. It is also getting nearer to obtaining its first aerospace orders. Hardide remains loss-making and this will still be the case next year as it continues to invest in increasing capacity in the UK and US as demand grows.
Curtis Banks (CBP) has purchased around 600 SIPPS with assets of £180m from Hargreaves Hale, which will continue to manage the assets. Curtis Banks will launch a new SIPP product in January.
Clinical trials manager Venn Life Sciences (VENN) is collaborating with Open Orphan DAC. The two firms will share resources in the orphan drugs market. Venn is raising £1m from a two-year loan note issue.
WH Ireland has upgraded its forecast for banknote authentication and brand protection technology business Spectra Systems (SPSY) for the second time. The underlying pre-tax profit forecast has been raised by 10% to $4.5m. The 2019 forecast, which had previously been upgrade by 16%, is maintained for the time being.
Kibo Energy (KIBO) says that its 60%-owned subsidiary MAST Energy Developments has an exclusive option to undertake due diligence and acquire three peaking power sites totalling 31.3MW. This would provide initial revenues for Kibo later next year. Kibo has renewed its memorandum of understanding with Mozambique-based electric utility Electricidade de Mocambique for the financing and operation of the Benga independent power project.
eServGlobal Ltd (ESG) says that 2018 revenues will be lower than expected due to weak trading at the PayMobile business and the failure to close orders. The PayMobile business may be sold and the focus will be the HomeSend remittances business.
NWF (NWF) says feeds demand was strong in the summer because of a lack of natural grazing. In contrast, the hot weather held back demand for fuels. A Solihull-based fuel distributor has been acquired. The food distribution business continues to trade at around capacity because of contract wins. The interims will be published on 29 January.
ReNeuron (RENE) has important clinical trial results coming up in the next 18 months. A retinitis pigmentosa treatment is in phase I/II trials and there should be data in mid-2019. A phase IIb trial for a CTX cell therapy-based treatment for chronic stroke is due to report by early 2020. There was £30.7m in the bank at the end of September 2018. Management is seeking partners to help it to make the most of its technology.
PhotonStar LED Group (PSL) has raised £100,000 at 0.02p a share and this will enable the board to assess new business opportunities.
Property adviser Fletcher King (FLK) is maintaining its interim dividend at 1p a share even though pre-tax profit has dipped from £148,000 to £132,000. Ratings appeals revenues were lower. There is £2.28m of cash in the balance sheet.
Kromek (KMK) has secured an initial contract with the US Department of Defense worth $2m over 12 months. The plan is to develop a proof-of-concept device for a vehicle-mounted biological threat identifier.
Crossword Cybersecurity (CCS) started trading on AIM on Friday and the share price ended the day at 272.5p. Crossword raised £2m at 290p a share.
Volex (VLX) is buying cable assemblies and connectors manufacturer GTK for £14.3m in cash and shares. in the year to July 2018, GTK generated a pre-exceptional operating profit of £1.7m. There was £1.3m in the bank. The deal is earnings enhancing.
African Battery Metals (ABM) has found it difficult to raise the cash it requires and trading in the shares has been suspended. The company wants to come to a settlement with creditors so that it could continue to trade.
Smaller company mergers and acquisitions business K3 Capital Group (K3C) is cautiously optimistic but the full year outcome will depend on the timing of deals. There could be a small dip in pre-tax profit to £7m this year and there could be a corresponding dip in dividend from 11.2p a share to 10.8p a share.
Telit Communications (TCM) says that it will not complete the sale of its automotive business until next year. Telit is expected to make a 2018 loss. Further cost savings are being made in the Internet of Things operations.
More bad news from Filtronic (FTC) with sales of Massive MIMO antennas lower than expected. The main customer has reduced its forecast demand. The capitalised development costs of £500,000 will be written off and options are being reviewed. The rest of the business is trading in line with expectations. Filtronic will be loss-making this year. Net cash was £2.3m at the end of November 2018.
Science Group (SAG) has ended its formal sale process because of stockmarket and exchange rate uncertainty. The strategic review continues. Trading is in line with expectations and the company will recommence the share buy back programme. Net cash was £6.4m at the end of November 2018.
Like-for-like sales growth has been slowing at DP Poland (DPP) and this means that progress in 2019 is unlikely to be as good as expected. This means that it will take longer to reach profitability. Rivals have been spending money on marketing and warm weather has also held DP Poland back. A full year trading update will be published on 29 January.
Taptica International Ltd (TAP) plans to spend up to $10m on buying back shares and it has already spent nearly £110,000. There was net cash of $42.1m at the end of June 2018.
Tristel (TSTL) says that the US regulatory process for its disinfection products is on track and interim pre-tax profit should be £2.2m.
TomCo Energy (TOM) has managed to secure £550,000 at 2p a share. The previous £532,000 placing at 8.5p a share was pulled. Laurence Read has become a non-executive director.
RA International (RAI) has won a five year contract worth up to $5.6m from a US corporate client in Central Africa.
MAIN MARKET
Circassia Pharmaceuticals (CIR) is moving to AIM and it has decided to exercise its option to acquire US rights to COPD treatment Tudorza from AstraZeneca. This deal should complete by the end of the year and it will trigger a payment of $5m. A further $20m is payable upon approval of Duaklir and then there is further deferred consideration of $100m.
Tex Holdings (TXH) has warned that second half earnings will be lower than anticipated due to delayed deliveries and reorganisation costs.
Cadmium-free quantum dots developer Nanoco (NANO) is on course to complete the expansion of its Runcorn facility by the end of 2018 with commercial volume manufacturing by the middle of 2019.
Lb-shell (LBP) is being wound-up because of potential litigation relating to before it became a shell. There is unlikely to be anything left for shareholders.
Giant Saint Technologies Ltd (GST) is installing a $1m data centre in Singapore.
Andrew Hore
Andrew Hore – Quoted Micro 6 August 2018
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