Mercantile Ports and Logistics (LON:MPL) says the hearing before the National Company Law Tribunal, Mumbai Bench, concerning Karanja Terminal & Logistics is scheduled for 1 July. Creditors rejected the company’s proposals and approved different ownership of Karanja. However, Mercantile argues that the offer was accepted before its own proposals were annulled. The share price recovered 41.4% to 2.05p.
Property services provider Fletcher King (LON: FLK) shares continued to rise and are 30% ahead at 65p, after it had declared a special dividend of 20p/share, which will cost £2.05m, the previous week. The ex-dividend date is 2 July. Cash was £3.48m at the end of October 2025. Founder David Fletcher is leaving the board along with two other non-executives. That still leaves five directors.
Pawnbroker Ramsdens (LON: RFX) is recommending a 600p/share bid from Nasdaq-listed pawnbroker FirstCash, which previously acquired H&T. That is higher than the share price has ever been. Shareholders will also receive the 6p/share interim dividend and special dividend of 3p/share. This values the company at £203m plus £3m in dividends. The bid values Ramsdens at around nine times forecast 2025-26 earnings, although profit has been boosted by the high gold price increasing gold buying activity. A fall in profit is currently expected for 2026-27 indicating a multiple of 13, although there have been previous forecast upgrades for the current year and if gold prices remain high there is upside in this forecast. The share price increased 29% to 590p.
Kazera Global (LON: KZG) has agreed a definitive settlement of $10.5m with Hebei Xinjian Construction in relation to the arbitration award concerning African Tantalum. This is a $7m loan repayment and $3.5m share sale component. There will be an initial payment of $500,000 in Namibia. The rest will be paid over a period up to the end of 2029 and Hebei will then own 100% of African Tantalum. If $9m is paid by the end of 2026 then that would be the total payment. The share price gained 26.3% to 1.2p.
FALLERS
Talon Resources (LON: TAR) moved from the Main Market on 23 June after the reverse takeover of a North American gold explorer with a 90% stake in the Eagle Lake gold project in Ontario for £4m in shares at 1.25p each, plus £170,000 in cash. There was also £2m raised at the same price. The share price had been suspended at 2.75p and started at 2.125p before falling to 1.275p at the end of the week. That is a 53.6% decline, but the share price is still above the issue price.
Energy as a service provider eEnergy Group (LON: EAAS) expects interim revenues to be £22m and full year revenues to be £32m, compared with £38m previously. That means that EBITDA would be £1,7m rather than £4.5m. These adjustments come after the appointment of John Gahan as interim chief executive. He is generating annualised savings of £2m and there will be a restructuring charge of £500,000. eEnergy has a record of forecast downgrades over the years and it is no surprise that the share price has slumped 43.1% to 2.9p. This is the lowest it has been for more than three years.
CPP Group (LON: CPP) announced a general meeting to gain shareholder approval to leave AIM and raise money from a convertible loan note issue. Following disposals, the focus is insurTech platform Blink Parametric, which is still relatively early stage. The final $5m owed by the purchaser of the Indian business has not been paid yet and cash is required. Gresham House Asset Management is offering to invest £3m in convertibles as long as a total of at least £5m is raised and CPP leaves AIM. Shareholders are being offered a chance to subscribe for up to £2.95m of convertibles with a minimum level of £2m. The holders of convertibles will also receive V shares to enable them to vote at meetings. The general meeting is on 14 July. The share price slipped 39.6% to 37p.
Space and aerospace technology supplier Filtronic (LON: FTC) says full year revenues will be in line with consensus forecasts of at least £55.5m, while EBITDA will be slightly better than expected due to improved margins. That means that pre-tax profit is estimated at £8.5m. Net cash is 311.3m. The new facility has capacity of £200m. The strong order book means that 90% of 2026-27 revenues expectations of £62.6m. A second contract has been won for satellite payload technology with a US-based customer worth £400,000. This will be recognised in the current year. The 2025-26 results will be published on 4 August. The share price fell back 39% to 230p, but it is still nearly one-third higher this year.