Good Energy (LON: GOOD) has received a bid approach from Esyasoft, an international business providing energy efficiency and smart utility software and services. One of the areas it is involved in is EV charging infrastructure. It does not have interests in energy supply. Good Energy is paying up to £8m for solar installation company Empower Energy and this should be earnings enhancing in 2025. The business covers Hampshire and the surrounding area, although it can supply customers in other parts of the country. In the year to August 2024, it made a pre-tax profit of £1.8m on revenues of £10.1m. The share price jumped 17.8% to 347.5p.
Henry Spain Investment Services has increased its stake in Zytronic (LON: ZYT) from 10% to 11.3%. Zytronic is undertaking a strategic review that could end up with the sale of the touch screen business. The share price improved 3.26% to 47.5p.
Window components supplier Titon (LON: TON) continues to recover following last week’s news that it is planning to sell it interests in South Korea for £750,000. Titon’s share of the 2022-23 loss was £645,000. The annual results will be published on 23 January. The share price rose 3.23% to 80p.
Metals Exploration (LON: MTL) has received approvals to start exploration at the Abra tenement in northern Luzon in the Philippines. The initial drilling will be on the Manikbel prospect, which has potential copper mineralisation identified by soil geochemistry. Hannam & Partners expects the Runruno mine to beat production guidance and produce 88,000 ounces of gold. The broker has a valuation of 9.92p/share. The share price increased 2.99% to 6.55p.
FALLERS
Emmerson (LON: EML) has filed an appeal against the unfavourable recommendation for its ESIA application for the Moroccan potash project. The regional authorities say that they cannot examine the ESIA submission again. Emmerson is considering options. Emmerson is trying to reduce its cash burn, but that will mean that there will be no progress with the development of the project. Two non-executive directors are stepping down and the two remaining non-executives will take fees in shares, while the chief executives pay will be reduced by two-fifths. The share price slumped 42.2% to 0.325p.
Tlou Energy (LON: TLOU) is seeking shareholder approval to leave AIM at its AGM. The shares will still be traded on the ASX and the Botswana Stock Exchange. Interest in the company has dwindled and the departure will save money. The company is offering UK shareholders the chance to transfer their holding to the ASX depositary in exchange for ASX-listed shares at no cost. The share price slid 34.7% to 0.8p.
Last week, property developer and investor Caledonian Trust (LON: CNN), which has been on AIM for more than 29 years, announced the proposed cancellation of the AIM quotation. The direct annual cost of the quotation is £100,000 and liquidity is poor. A general meeting to gain shareholder approval will be held on 18 November. There is already support from holders of 85.3% of the shares. The cancellation is expected to be on 26 November. NAV is 195.1p/share. The share price has fallen a further 31.6% to 65p.
Radiation and bio-detection technology developer Kromek (LON: KMK) has secured a £4.9m term loan from Polymer N2, a company controlled by 13.5% shareholder Dr Graeme Spiers. This has the same terms as a previous £5.5m loan. Repayment is 27 March 2025, although there is an option to extends for 12 months. Interest can be paid in shares. In the year to April 2024, revenues were 12% higher at £19.4m. Timing issues meant that it was lower than forecast. The loss was £3.5m. Cash was £500,000 at the end of April 2024. A further loss is expected this year, although there could be a positive working capital movement. The share price declined 14.8% to 5.75p.