N4 Pharma (LON: N4P) has gained another US patent for its Nuvec silica nanoparticle delivery system for vaccines and therapeutics. The patent relates to the nanoparticle. Chris Britten has been appointed chairman. The share price jumped by one-third to 2p.
Richard Bernstein has taken a 9.7% stake in Bonhill (LON: BONH), which has sold off its businesses and recently bought back £3.9m worth of shares at 10p each. The plan is to cancel the AIM quotation and a general meeting will be held on 1 August to gain shareholder approval. The share price recovered 52.4% to 0.8p.
Video streaming services provider Aferian (LON: AFRN) raised £3.12m at 12p/share, which was a premium to the market price. The cash is an alternative to drawing down a loan from major shareholder Kestrel. This will provide working capital to enable the continued move to software and services revenues. The share price moved up 30% to 13p.
Shares in Sportech (LON: SPO) have risen 8.61% to 176.5p ahead of going ex-dividend for the 35p/share special dividend.
FALLERS
Wandisco (LON: WAND) shares slumped 96.2% to 49.75p after the data software company returned from suspension. Wandisco recently raised £23.8m at 50p/share. The share suspension came about because of fraudulent irregularities in its accounts. There were $115.5m of false orders in 2022 and $14.9m of this was recognised as revenues. The additional cash will reinvigorate sales and marketing.
Brighton Pier (LON: PIER) says that first half trading was subdued due to poor weather, weak consumer spending, train strikes and a fire in a hotel near to the pier. There are also cost pressures. Cenkos has halved its post-tax profit to £500,000, although net debt expectations have been cut from £4.5m to £3.7m. The share price dived 28.1% to 41p.
FireAngel Safety Technology (LON: FA.) says interim revenues are 17% lower at £21.4 and lower gross margin plus hedging losses means that the pre-tax loss will more than double to £3.7m. Price increases have been made. A strategic review has been started by new chief executive Neil Radley and is possible the company could be sold. FireAngel Safety Technology recently raised £6.1m at 5.05p. The share price slipped 24.4% to 3.25p.
Hummingbird Resources (LON: HUM) produced 24,000 ounces of gold in the second quarter of 2023 and even more was sold during the quarter. Costs were lower than expected at $1,234/ounce. This meant that EBITDA was $15.5m – the forecast was $11.8m. The downside is that net debt was higher than forecast at $123m. This was due to increased capital investment. The Kouroussa mine is likely to produce less than expected this year, while Yanfolila could continue to do better than anticipated. The share price is 6.46% lower at 14.125p.