Drinks brands owner Distil (LON: DIS) says Ardgowan Distillery Company has agreed to the early conversion of £3m of convertible loan notes issued in July 2021. This will give Distil a 10.5% stake. It will also receive a payment of £395,000. The Distil share price jumped 72.8% to 0.07p.
Shares in corporate finance business Marechale Capital (LON: MAC) continue to rise following yesterday’s news that it is acquiring broker Stanford Capital Partners along with global asset tokenisation platform Blubird Global and NJC Capital Management VSA Private Fund and its manager. The payment is 75.2 million shares issued at 1.75p each, which values the businesses at £1.32m. There will be £1.06m raised at the same price. The share price improved a further 26% to 4.6p.
Metir (LON: MET) has completed the first sale of a PFAS (synthetic chemicals that persist in the environment and body) detector unit in the US. There is a field test evaluation with a PFAS decontamination specialist in the UK. Metir has taken full ownership of the IP for the PFAS testing. The share price gained 18.5% to 0.8p.
Helium One Global (LON: HE1) says that the Galactica-Pegasus helium development project, where it has a 50% working interest, has secured a three month helium offtake agreement with a US industrial gases purchaser at around the current spot market price. The share price rose 6.28% to 0.575p.
FALLERS
Portmeirion (LON: PMP) announced a fundraising late on Wednesday evening. It raised £15m at 50p/share and a retail offer could raise up to £2m more. The homeware brands company will use the cash to reduce net debt and to invest in the US Amazon online business that has been brought in-house. There could also be small bolt-on acquisitions. The share price is two-fifths lower at 55.5p.
Tertiary Minerals (LON: TYM) raised £985,000 at 0.05p/share. Directors will subscribe £15,000 when the company is not in a close period. The cash will finance work on the Target A1 silver oxide discovery. The share price declined 11.5% to 0.0575p.
Legal services provider Gateley (LON: GTLY) says weak transactional volumes and global volatility hit its full year figures. Revenues will be better than expected and underlying operating profit in line with expectations at £21m-£22m, despite the lower margin due to the deferment of corporate and property transactions. The results will be announced in July. The share price fell 13.4% to 57.5p.
Switch Metals (LON: SWT) has outlined high priority lithium and tantalum drill targets at the Issia project. Soil sampling at Kabore showed a substantial lithium pathfinder anomaly. Zraty is a tantalum bearing pegmatite target. The share price slipped 8% to 11.5p.
Ex-dividends
Billington (LON: BILN) is paying a final dividend of 11p/share and the share price slid 10.5p to 402.5p.
Central Asia Metals (LON: CAML) is paying a final dividend of 7.5p/share and the share price fell 8.8p to 139.8p.
Helios Underwriting (LON: HUW) is paying a dividend of 10p/share and the share price slipped 8p to 214.5p.
Keystone Law (LON: KEYS) is paying a final dividend of 17.2p/share and the share price fell 14p to 550p.
Michelmersh Brick Holdings (LON: MBH) is paying a final dividend of 3p/share and the share price dipped 2p to 78p.
Robinson (LON: RBN) is paying a final dividend of 3.5p/share and the share price is unchanged at 135p.
Renew Holdings (LON: RNWH) is paying an interim dividend of 7p/share and the share price fell 11.5p to 865.5p.
Tandem Group (LON: TND) is paying an interim dividend of 3p/share and the share price is unchanged at 170p.
Winvia Entertainment (LON: WVIA) is paying a final dividend of 5.9p/share and the share price declined 17.5p to 257.5p.