Tintra (TNT) shares see some light relief, jumping 33.33% to 240p
Tintra continues to see some relief after it told investors last month that the business had run into some unexpected complexities regarding the sale of its lottery administration business.
It said the sale of certain assets of Prize Provision Services to Sterling Management Centre, which was first disclosed in October 2021, requires navigating complex banking requirements.
As a result, the company said the sale process had been taking longer than expected, though it detailed that both parties were operating on a “time is of the essence” basis. Tintra told investors that it has a target of signing the sales-and-purchase agreement by mid-February.
Despite this timing delay, Tintra recently noted that it was “proceeding well” with “a good working relationship” established between the buyer and the lottery administration business.
Bezant Resources (BZT) shares rise 22.58% to 0.19p as Namibian project proves valuable
On Monday, Bezant Resources told investors that the Hope and Gorob Project in Namibia presented significant opportunities “over and above previously considered mining plans.”
Following the successful completion of an all-parties technical visit to review the Hope and Gorob Project in Namibia, Bezant Resources has refined its current work programme.
The Group has implemented a ‘programme of action’ aimed specifically at the completion of scoping studies, preliminary design and the expansion and upgrade of the Mineral Resource model at the project all aimed at the near-term submission of a mining licence application.
Insig AI (INSG) shares rise 16.46% to 45p after the group is selected for PwC programme
The data science and machine learning company has been selected for PwC’s Scale FinTech programme which was designed to give businesses access to new commercial opportunities.
This year marks the fifth year that PwC has run the Scale FinTech programme, targeting technology scale-ups with innovative FinTech solutions. As the only FinTech with ESG expertise on the programme, Insig AI was one of nine companies to be chosen this year.
Micro Focus International (MCRO) shares fall 12.14% to 400.4p as FY21 revenue declines
In its full year results for the year ended 31 October 2021, Micro Focus International reported declining revenue for the year at $2.9bn, down from $3bn, despite having narrowed its losses.
Adjusted EBITDA was reported at $1,040.2m at a margin of 36% (compared to 39% in FY20), which the firm said was reflective of the reduction in revenue partially offset by cost actions.
The company noted that the rate of decline has improved year-on-year, declining by 5% compared to 10% in the previous year on a constant currency basis. Loss before tax was also substantially narrowed for the financial year at $517.8m down from $2.94 billion in FY20.