XP Power (XPP) shares tick up 8.13% to 4,850p as it acquires two German businesses
Today, XP Power announced that it has acquired two complementary German businesses - FuG Elektronik GmbH and Guth High Voltage GmbH - for a cash consideration of c. £32.8m.
The developer of critical power solutions said it has funded the acquisition using existing debt facilities and that it will be subject to customary post-completion working capital adjustments.
GCM Resources (GCM) shares jump 36.61% to 6.25p following financing update
The AIM-listed mining and energy company confirmed to investors that it is currently in discussions regarding securing the necessary funding to support its ongoing working capital needs, although it added that there is no certainty such discussions will be successful.
The Group retains the option of utilising a final drawdown of £0.3m on an available facility if necessary. It added that such funding would provide sufficient funds until at least April 2022.
Digitalbox (DBOX) shares continue to rise, up 32.56% to 14.25p as trading remains strong
Shares in Digitalbox jumped despite having no news out. In early January 2022, the Group reported that trading across its three brands had been ‘stronger than anticipated’ last month.
The mobile-first digital media business, which owns the websites Entertainment Daily, The Daily Mash and The Tab, said December is traditionally its most important trading period.
As a result of the performance, Digitalbox said it now expects revenue and EBITDA for the year to 31 December 2021 to be ‘significantly ahead’ of the recently upgraded market consensus of EBITDA* of £850,000, with revenue now expected to be not less than £3.6m.
It said the strong trading resulted from the continued positive trend towards mobile advertising inventory, and better-than-expected traffic from increased editorial investment over the period.
Venture Life Group (VLG) shares jumped 32.00% to 49.5p following positive trading update
In an update for the year ended 31 December 2021, Venture Life Group said it expects to report revenue of £32.6 million for the period, up 8% on £30.1m reported in the prior year.
Venture Life Group, a company which creates products for the self-care market, said 2H21 revenue was stronger than in 1H at £18.7m, an increase of 35% over £13.9m the first half.
In particular, the company said momentum had built in the business’ post acquisitions which it told investors was demonstrated by 4Q21 revenue which came 59% higher than that in 3Q21.
Today, the Board informed investors the momentum seen in the second half of the 2021 financial year has continued into 2022 and that the order book for the Company is therefore ‘significantly ahead’ of the same time last year, underpinning its confidence in the year ahead.