* A corporate client of Hybridan LLP
** Arranged by type of listing and date of announcement
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour
Dish of the day
Chaarat Gold Holdings (CGH.L) has delisted from AIM
What’s baking in the oven? **
Reverse Takeovers:
Earnz plc (EARN.L) is an AIM Rule 15 cash shell which is required to make an acquisition or acquisitions which constitute a reverse takeover by 31 August 2024. The Company has identified and agreed commercial terms with the vendors of the following two companies in the energy services sector: Cosgrove & Drew Ltd (C&D), incorporated in 2015, an asset and energy support services company; and South West Heating Services Ltd (SWHS), which was incorporated in 2019 and provides heating and installation maintenance services largely for domestic insurance claims, while also offering its services directly to domestic households. Expected size of the offer is £2.05m of which £1.56m is EIS/VCT qualifying.
Banquet Buffet***
Anglesey Mining 0.9p £4.2m (AYM.L)
A mineral exploration and development Company announces that it has reached an important project milestone with the formal submission on 31st July 2024 of the Parys Mountain Mine Environmental Impact Assessment (EIA) Scoping Report to the North Wales Minerals and Waste Planning Service as part of a formal EIA Scoping Opinion request. The Planning Service assesses mineral planning applications on behalf of the Isle of Anglesey County Council and other County Councils within the North Wales Region. The Scoping Report forms part of the first stage in the EIA process and comes after almost two years of extensive studies and work by the Anglesey team on site. Cumulative expenditure on the EIA process in that timeframe is almost £300,000.
Biome Technologies 12.5p £0.5m (BIOM.L)
The bioplastics and radio frequency technology business today provides an unaudited trading update for the quarter ended 30 June 2024. Revenues for H1 2024 were £2.3m (2023 H1:£3.6m) a decrease of £1.3m compared to H1 2023. This lower level of revenue in 2024 was caused by continued production and regulatory difficulties at two of the Bioplastics division's end-customers and the second-half phasing of revenue from the four significant RF division projects, currently undergoing design and build. The cash balance at 30 June 2024 was £0.6m (30 June 2023: £0.9m) and there is an original principal amount of £1.25m outstanding pursuant to the Convertible Loan Instrument and no bank debt. The Board anticipates improved operational performance during the remainder of this year.
Botswana Diamonds 0.31p £3.7m (BOD.L)
The Botswana Diamond Company announces that it is has started a programme of Artificial Intelligence techniques on its Botswana database. Initial exploration results will be available within the next four to six weeks. The Company has the second largest diamond exploration database in Botswana. This is an excellent foundation to incorporate AI to assist in a comprehensive search for new diamond deposits and potentially other minerals. The Company will utilise Planetary AI Ltd Xplore mineral prospectivity technology which was developed in collaboration with International Geoscience Services Limited. Xplore is a system that uses a unique combination of semantic technology with machine learning. Semantic technology is a branch of artificial intelligence focused on understanding and representing the meaning of data, information, and knowledge in a machine-readable format.
Capital for Colleagues 60p £11.1m (AQSE: CFCP)
The investment vehicle focused on opportunities in the Employee Owned Business (EOB) sector announces an investment update in respect of the quarter ended 31 May 2024. The portfolio comprised of 15 unquoted EOBs at the end of the quarter (29 February 2024: 15), the NAV was £16.25m (29 February 2024: £16.15m) and the NAV per share has increased to 87.87p (29 February 2024: 87.32p per share). Directors believe that the unquoted EOBs in the Company’s portfolio currently generate total turnover of around £53.0m (29 February 2024: £49.7m) per annum and support approximately 360 (29 February 2024: 335) jobs.
The technology company specialising in artificial intelligence products that can interact with any UI, website, or API using natural language commands announces that a service supplier will be converting outstanding fees aggregating to £17,700 into equity at £0.059 per share.
Diversified Energy Company £10.32 £483.1m (DEC.L)
A Company focused on natural gas and liquids production, transport, marketing, and well retirement announces the closing of its acquisition from Crescent Pass Energy of the operated natural gas properties and related facilities located within eastern Texas. The purchase price of $106m consists of a combination of the issuance of 2,249,650 new US-dollar denominated ordinary shares to the Seller (subject to a customary commercial lock-up agreement), and cash consideration of $71m, drawing from a senior secured bank facility supported by the acquired assets and existing liquidity. The new shares represents approximately 4.77% of the Company's existing issued share capital.
Fletcher King 50p £5.1m (FLK.L)undefined
The Company involved in long term client relationships providing advice on property fund management, property asset management, investment broking, valuations, rating and development announces its audited results for the Year ending 30 April 2024. Revenue increased to £3.83m (2023: £3.08m), adjusted profit before tax increased to £504k (2023: £165k) and cash and fixed term deposit reserves at 30 April 2024 was £3.8m (2023: £2.8m). It continues to be difficult to predict the property market's direction particularly with the current uncertain economic environment.
The technology-enabled service provider delivering solutions to enable businesses to transition to net-zero and manage their response to climate change provides an update on trading for the six-month period ended 30 June 2024. Assurance Services: highly encouraging momentum in new business generation, with churn rates continuing to improve to deliver revenue growth and margins stabilising as expected. Optimisation Services: increasing levels of repeatable demand from existing clients, alongside cross selling opportunities from the Assurance Division, with clients focusing on the beneficial impacts of energy reduction and delivering net-zero. Consistent with FY 2023, and as indicated in the FY 2023 results, the Group expects Optimisation Services to deliver c.60% of its gross profit contribution in H2 2024. The Group's focus on cash generation delivered improved cash conversion of c.80% in H1 2024 (FY 2023: 75%), with cash conversion for the 12 months to 30 June 2024 in excess of 90%. The Board expects to report results in line with management expectations for the period ended 30 June 2024 and remains confident in delivering full year results in line with market consensus.
LungLife AI 14p £4.3m (LLAI.L)
A developer of clinical diagnostic solutions for lung cancer notes the publication of the Local Coverage Determination (LCD), issued by the Medicare Administrative Contractor (MAC) Noridian Healthcare Solutions, LLC, which has jurisdiction over LungLife's California laboratory. The Medicare coverage criteria are effective for medical insurance claims with dates of service on or after September 22, 2024. This enables LungLife to apply for coverage under the LCD in order to receive payment from Medicare. This is a key step towards commercialisation for LungLife, having already received a billing code and established a price of $2,030 per LungLB test. The new Medicare coverage policy establishes criteria for molecular tests that aid in the diagnosis of lung cancer in patients with indeterminate pulmonary nodules. This is crucial for healthcare providers and patients, as setting out the circumstances under which Medicare will pay for these services removes a fundamental barrier to adoption by clinicians.
Neo Energy Metals 0.875p £12.2m (NEO.L)
The near term, low-cost uranium developer confirms that it has satisfactorily completed its technical, financial and legal due diligence on the acquisition of a 100% interest in the multi-million pound uranium and multi-million ounce gold resources of the Beisa North and Beisa South Uranium and Gold Projects. The Beisa Projects comprise total SAMREC Code compliant resources of 90.24m pounds (Mlbs) of U₃O₈ and 4.17m ounces (Mozs) of gold and are located on two granted Prospecting Rights, extending over an area of approx. 80km2 in the Witwatersrand Basin, in the Free State Province of South Africa. The completion of this due diligence, ahead of schedule, marks a significant milestone in the advancement of the Beisa Projects and the Company's strategy to become South Africa's leading uranium mining company and a major player in Africa's uranium sector.
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