Trainline (TRN) sees light relief, gaining 5.21% to 297p following news of railway overhaul
Shares in the UK-based international digital rail and coach technology platform have seen some light relief in the past week after the stock lost nearly half its value amid the UK Government outlining new plans to commit to digital ticketing through a new public body.
The stock lost almost one-third of its value on the day of the announcement with analysts stating that a new public body would be competing directly with the Trainline’s offering.
Trainline released a statement that same day in which it shared its support of the plan’s findings and recommendations, which it said were broadly in line with its expectations.
The company noted to investors that it expects that the plan's proposals, which it says will need to be ‘developed and subsequently implemented over the next several years,’ should improve the experience for rail passengers and drive efficiency for the wider industry.
Sareum Holdings (SAR) shares soared 22.12% to 3.15p as it unveils £0.9 million raise
The drug development company, which is focused on treating cancer and autoimmune diseases, announced to investors that it has raised £0.9 million at 2.8p a share in order to fund the development of its SDC-1801 TYK2/JAK1 inhibitor drug development programmes.
Sareum is targeting the completion of these preclinical studies in 3Q21, subject to successful progress. Clinical trial plans, including priority autoimmune indications and potential Covid-19 application, will also be developed in parallel, subject to additional funding being raised.
In addition, the subscription will also be used for general working capital purposes, it stated.
"This Subscription, together with any further funds raised and grants awarded to Sareum, will also help us to further explore the potential benefit of SDC-1801 against Covid-19 and TYK2/JAK1 inhibitor SDC-1802 against cancers,” commented CEO, Dr Tim Mitchell.
Norman Broadbent (NBB) sees relief following final results as stock jumps 12.12% to 9p
Shares in the company have continued to see relief, rising over 25% in value since the publication of its final results for the year ended 31 December 2020 in which it noted ‘good momentum’ and its plans for further growth despite posting a fall in revenue for the year.
Over the period, revenue fell by 31.9% to £7.81m as a result of the pandemic while net fee income fell by c.18% which the firm said was ‘largely mitigated by quick and decisive cost control measures’. Meanwhile, EBITDA reduced from £238,000 in 2019 to £69,000 in 2020.
“The early and very decisive actions taken by us, combined with our broader portfolio of services and collaborative and innovative culture, meant we were better placed to respond to these challenges than others,” said Mike Brennan, CEO of Norman Broadbent Group.
Springfield Properties (SPR) shares rose 11.67% to 167.5p as it hails strong sales activity
The Group, which builds private and affordable housing in Scotland, said in a trading update that the strong build and sales activity in the first half of the year has been sustained throughout the year with it continuing to experience high demand across the business.
As a result, the Group expects to report revenue and profit for the full year 2020/21 ‘significantly ahead’ of market expectations, reflecting significant year-on-year growth. The Group said it has also continued to substantially reduce net debt throughout the year.
Springfield highlighted to investors that it has seen strong sales across its private housing division, largely as a result of the increased desirability for the type of housing Springfield offers: that being ‘more spacious homes, with gardens and greenspace and, especially with the Group's Village developments, that have local amenities within walking distance,’ it said.
Vectura Group (VEC) shares fell 12.2% after last week’s $1.36bn takeover announcement
Shares in the pharmaceutical firm, which is focused on inhaled medicines, fell today following last week’s high when the firm gained more than 12% in value after revealing that it had agreed to a £958m or $1.36bn, takeover by global investment firm The Carlyle Group.
Chairman of Vectura Bruno Angelic stated that while the board remained confident in the fundamentals of the business and its strategy, that the "attractive offer" proposed by the Carlyle Group secures the delivery of future value for Vectura Shareholders in cash.
The Board recommended an offer price of 155p a share, a 32% premium to the group’s previous closing price at the time. Separately, it said that it continues to make progress with its CDMO strategy and said that it expects deal momentum to continue during the year.