Michelmersh Brick (LON: MBH) expects 2022 pre-tax profit to be ahead of expectations and it is acquiring pre-built brick products manufacturer and brick fabricator Fabspeed for an initial £6.25m. The Fabspeed acquisition will be earnings enhancing. There could be up to £2m more payable depending on performance over 24 months. A share buy back programme of up to £3m is being launched. Michelmersh has enough cash to finance these outflows. The share price moved ahead by 11.5% to 87.5p.
Arkle Resources (LON: ARK) has discovered pegmatites, which could be lithium-bearing, in the Mine River block on the Wexfod/Wicklow border. The share price jumped 31.6% to 0.625p.
Brake discs developer Surface Transforms (LON: SCE) has secured a £100m contract with a major global vehicle manufacturer. This year’s forecasts have been reduced, but the 2025 figures have been upgraded on the back of the new contract. The share price increased by 9.68% to 42.5p.
Karelian Diamond Resources (LON: KDR) says that the National Land Survey of Finland will meet on 14 December to establish the mining concession for the Lahtojoki diamond deposit, which contains colourless and coloured diamonds. The share price is 8.51% higher at 2.55p.
DeepMatter Group (LON: DMTR) plans to cancel the AIM quotation because management believes that it will be easier to raise cash as a private company. The digital chemistry data analysis business. Says major shareholders support the plan. DeepMatter wants to raise £1m before leaving AIM and then a larger amount after the departure. This year’s revenues will be at least £1.5m. The share price has halved to 0.06p.
United Oil & Gas (LON: UOG) says that flow rates from the ASH-4 development well in Egypt have sharply declined. Stabilised flows will be lower than anticipated. The production rate from the Abu Sennan licence is also lower than anticipated. Full year daily production guidance has been reduced from 1,450-1,500boe per day to 1,300-1,325boe per day. There could be some upside from workovers. The share price slumped by 21.5% to 1.55p.
Diagnostic tests developer Abingdon Health (LON: ABDX) lost £21.3m in the year to June 2022, after revenues slumped from £11.6m to £2.8m. The loss includes write-offs. There was £4.4m in the bank at the end of October. The shares fell 12.5% to 5.25p.
Finance provider Morses Club (LON: MCL) reported a 18% decline in revenue to £43.2m and a loss of £20.8m. Talks continue concerning further funding and a scheme of arrangement to deal with ongoing liabilities. If the scheme of arrangement does not go ahead, then Morses Club may not be a going concern. The share price declined by 13.8% to 2.4p.
Ex-dividends
Craneware (CRW) is paying a final dividend of 15.5p a share and the share price fell 10p to 2200p.
Crystal Amber Fund (LON: CRS) is paying a dividend of 10p a share and the share price declined by 13p to 100p.
Finsbury Food (LON: FIF) is paying a final dividend of 1.67p a share and the share price is unchanged at 89p.
Fonix Mobile (LON: FNX) is paying a final dividend of 4.5p a share and the share price is 0.5p lower at 187p.
FRP Advisory (LON: FRP) is paying a dividend of 0.85p a share and the share price is unchanged at 162.5p.
iEnergizer (LON: IBPO) is paying an interim dividend of 11.07p a share and the share price fell 1.5p to 470.5p.
Inspiration Healthcare (LON: IHC) is paying an interim dividend of 0.21p a share and the share price is unchanged at 84.5p.
Lok’nStore (LON: LOK) is paying a final dividend of 12.25p a share and the share price is 10p lower at 960p.