Mothercare (LON: MTC) shares returned from suspension up 29.2% to 4.6p following the 2023-24 results publication and refinancing. There is a new £8m two-year loan facility from Gordon Brothers, which receives 43.4 million warrants exercisable at 8.5p/share. There is also a joint venture with Reliance Brands, which will acquire 51% for £16m, covering the Indian sub-continent. In the year to March 2024, underlying pre-tax profit dipped from £3.4m to £3.1m. Overall revenues continue to decline, and Cavendish expects a small loss this year.
Autoantibody profiling company Oncimmune (LON: ONC) is raising a minimum of £2m from a placing and subscription at 15p/share, which was a premium to the market price. There will also be the capitalisation of £4m of debt. A retail offer of up to £300,000 has been launched and commitments are required by 31 October. The cash will be used to help build sales. The share price increased 10.4% to 15.35p.
Bushveld Minerals (LON: BMN) has gained regulatory approval to sell thermal coal licences holder Lemur for $100. This will release liabilities of $2.5m.The share price recovered 10% to 0.45p.
MicroSalt (LON: SALT) says that there has been no change in trading and operations despite the recent rise in the share price. That rise continued with an improvement to above 56p, but it has fallen back and is 0.96% ahead at 52.5p.
FALLERS
Approval for further development of the Wressle field in Lincolnshire has been revoked, because of a legal challenge that greenhouse gas emissions were not taken into account in the original decision. Union Jack Oil (LON: UJO) has a 40% interest in the Wressle development and the share price fell 8.51% to 10.75p.Europa Oil & Gas (LON: EOG) owns 30% and the share price dipped 2.56% to 0.95p. A revised application for Wressle can be made with additional data on emissions. The existing production continues.
Online fashion retailer Boohoo (LON: BOO) has signed a £222m debt refinancing and is considering options to maximise shareholder value. A demerger of one or more divisions is possible. This could possibly be the Debenhams or Karen Millen businesses. John Lyttle is stepping down as chief executive. Group net revenues fell 15% to £620m and one-third lower EBITDA of £21m. Profitability should improve in the second half. The share price is 7.78% to 29.4p.
A new Gambling Regulatory Authority of Ireland has been established to cover gambling, betting and lotteries. Mobile messaging and payments services provider Fonix (LON: FNX) says it is not clear if the new legislation creating the regulatory authority covers no-purchase necessary draws. This means it is not expected to change expectations. The share price had a spike up in the past few days and profit-taking has led to a 4.08% dip in the share price to 235p.
Endoscopy instruments developer Creo Medical (LON: CREO) raised £89,000 from the retail offer at 24p. The retail offer was for up to £5m. A placing has already raised £12m and, along with the disposal of 51% of Creo Europe, this should be enough for Creo Medical to reach profitability. The share price fell 2.88% to 20.25p.