Tavistock Investments (LON: TAVI) is acquiring Alpha Beta Partners, which is an asset manager with £3bn under management. The business is focused on retail investors, and this will scale up the existing business of offering asset management services to third party advisers. Operating profit was more than £500,000 on revenues of £4m in the year to September 2024. The initial payment is £6m, with the maximum consideration of up to £18m. Two disposals have been completed and the initial payment of £22m will be received in early December. They could eventually generate £37.75m. The share price increased 9.86% to 3.9p.
Portable oxygen devices developer Belluscura (LON: BELL) has secured a credit facility of up to $4m with Sallyport Commercial Finance. This will last for three years and enable the formal launch of the DISCOV-R portable oxygen concentrator, which will be in full production by early 2025. The share price is 7.89% higher at 10.25p.
Recruitment firm RTC Group (LON: RTC) says economic conditions are challenging but it its trading in line with expectations. The shore price is 7.69% ahead at 105p.
Sustainable fuel technology developer Quadrise (LON: QED) says progress has been slower than anticipated, but three projects are moving towards commercialisation and there are other projects in the pipeline. The trial agreement with Cargill and MSC should be signed by the end of the year. Proof of concept should start in the first quarter of 2025. The share price improved 4.05% to 1.605p.
Frontier IP (LON: FIPP) is raising £3m via a placing and subscription at 28p/share. A retail offer via Primary Bid could raise up to £1m. Minimum subscription is £250. The offer closes at 5pm on 25 November. Frontier IP made unrealised gains of £1.3m in the year to June 2024, but there was an overall loss of £1.3m. NAV is 79.7p/share. Despite that, there is a shortage of cash in the balance sheet and the additional cash should last 12 months as the company tries to generate some additional cash from investment realisations. The share price rose 3.57% to 29p.
FALLERS
Webis (LON: WEB) has decided to leave AIM. The US-focused gaming company will seek shareholder approval on 18 December. This will help to reduce costs. The operations remain loss making. The share price slumped 68.8% to 0.125p.
Alien Metals (LON: UFO) says that general meeting resolutions have been sent to some shareholders by mistake. The AGM is on 16 December. The share price fell 8.11% to 0.085p.
Electrical products supplier LPA Group (LON: LPA) traded at near to breakeven in 2023-24 as expected. There will be a restructuring charge, though. Revenues were 10% ahead at £23.8m, but orders fell because of rail project delays. Year-end order book is £25m. There is a potential small acquisition. The share price dipped 4.13% to 58p, which is near to the low for the year.