UK Oil and Gas (LON: UKOG) has raised £248,000 in its retail offer at 0.05p/share, having already raised £1m in a placing. The cash fund further development of hydrogen storage products and permit negotiations with potential partners. The share price improved 15.6% to 0.063p.
Full year results for FIH Group (LON: FIH) were in line with expectations. Art logistics business Momart and the Portsmouth Harbour Ferry Company put in solid performances. The Falkland Islands activities had a tougher time and group revenues dipped from £29.4m to £29m, while pre-tax profit edged up from £3.2m to £3.4m because of a lower interest charge. Zeus has not reinstated forecasts for this year because of uncertainty in the construction market in the Falkland Islands. The share price recovered 8.7% to 250p.
Cash shell Earnz (LON: EARN) is making its first acquisitions and raising up to £4m at 7.5p/share. It is buying energy services companies Cosgrove & Drew, which provides public sector project work and compliance services for heating and plumbing, and heating installation and maintenance services provider South West Heating Services. Earnz chair Bob Holt has a stake in Cosgrove & Drew, which will cost up to £196m. In 2023, it generated revenues of £9.1m and lost £832,000. South West Heating Services will cost up to £1.15m and it made revenues of £1.1m and a pre-tax profit of £275,000 in the nine months to March 2024. The focus is cross-selling of services and organic growth. The share price is 6.45% higher at 8.25p.
Ocean Harvest Technology (LON: OHT) has published positive data from trials of OceanFeed Swine. Adding this feed ingredient to the diet of pregnant sows results in more piglets being born and improved milk quality in the sows. Revenues per sow increased by $24/year. More than $100bn/year is spent on swine feed. The share price rebounded 5.56% to 9.5p.
FALLERS
Hermes Pacific Investments (LON: HPAC) plans to leave AIM. The share price slumped 23.8% to 40p. The investment company found it difficult to secure suitable investments in the financial services sector in south east Asia and changed into a property investor in 2022, but only one property has been acquired. There is a low free float, and the shares are trading at a large discount to the September 2023 NAV of 147p/share.
Subdued trading volumes have hit the results of share trading platform Jarvis Securities (LON: JIM) and Zeus has withdrawn its forecasts. There are also increasing costs following the Skilled Person review of the business. Interim pre-tax profit was 29% lower at £1.1m and full year trading will be well below expectations. There is a quarterly dividend of 1p/share, down from 1.5p/share in the previous quarter. The share price declined 13.7% to 50.5p.
OptiBiotix Health (LON: OPTI) has reduced its stake in SkinBioTherapeutics (LON: SBTX) from 12.9% to 11%. SkinBioTherapeutics shares are unchanged at 13.25p. OptiBiotix Health is down 3.54p to 27.25p.
Premier African Minerals (LON: PREM) has issued two billion shares in trust to China Zenith Capital. This settles the £1.38m owed to the company. These shares will be sold under orderly market conditions and if the cash raised does not cover the liability more shares will be issued. Premier African Minerals will retain any proceeds above the liability, but the share overhang is likely to hold back the share price. It fell 2.99% to 0.0585p, which is too low for the liability to be covered if this is the sale price.
Ex-dividends
Renold (LON: RNO) is paying a final dividend of 0.5p/share and the share price fell 0.9p to 54.5p.