Diagnostics developer and manufacturer Abingdon Health (LON: ABDX) improved interim revenues from £1.1m to £2.4m, while operating costs were stable. The pre-tax loss halved to £1.22m. Three new contract development and manufacturing contracts have been won since the end of 2023. There are own-label tests being launched by retailers where orders will be delivered in the second half. The share price jumped 44.4% to 9.75p.
Bushveld Minerals (LON: BMN) has received the rest of the $12.5m loan from Southern Point Resources. This will be settled when the promised subscription money is received. Orange Trust has increased its stake from 4.68% to 5.75%. The share price improved 13.8% to 1.65p.
Graphene technology developer Versarien (LON: VRS) has entered a licence agreement with Brazil-based Montana Quimica, which supplies paints and wood preservatives. The deal allows Montana Quimica to use Graphlinks formulations in its products. The initial fee is £50,000 with a further £25,000 when manufacturing starts. Royalties are 5% of revenues. The share price increased 15.5% to 0.65p.
Following the share price rise earlier in the week the 90p/share bid for SmartSpace Software (LON: SMRT). The share price rose a further 13.3% to 85p. The bid approach for smart building technology company from Sign In Solutions Inc was revealed earlier this year and the rival bidder pulled out. This recommended offer values SmartSpace Software at £28.4m.
FALLERS
ECR Minerals (LON: ECR) raised £585,000 at 0.3p/share. The share price slipped 22.1% to 0.335p. There were also shares issued for directors’ remuneration and other creditors. The cash will be spent on gold rare earths projects in Victoria and Queensland. Axis Capital Markets has been appointed as joint broker.
Oil and gas company Bowleven (LON: BLVN) is raising up to £1.6m at 0.1p/share via a 4.83208580680976-for-one open offer. The share price declined by one-fifth to 0.2p. Crown Ocean Capital will acquire shares not taken up in the offer, which could take its stake above 30%, so shareholders will have to approve this at a general meeting on 2 April. This will provide working capital and some of the near-term funding for the Etinde permit joint venture.
Supercapacitors manufacturer Cap-XX (LON: CPX) says that Maxwell is applying for more time to lodge a claim of costs relating to the recent patent case. Management is hopeful that negotiations with Maxwell will come to a settlement before the court have to make a judgement. The share price slid 15.6% to 0.0675p.
Oxford Biodynamics (LON: OBD) has raised £9.9m at 9p/share and the market price fell 11.1% to 9.4p. The cash will finance the personalised healthcare company’s commercial development of the EpiSwitch range of products. Versions for cancer and prostate screening have been launched with further versions for bowel cancer and canine cancer planned.
Ex-dividends
Brooks Macdonald (LON: BRK) is paying an interim dividend of 29p/share and the share price improved 22.5p to 1772.5p.
Fiske (LON: FKE) is paying an interim dividend of 0.25p/share and the share price is unchanged at 85p.
Heavitree Brewery (LON: HVT) is paying a final dividend of 3.5p/share and the share price is unchanged at 275p.
LPA Group (LON: LPA) is paying a final dividend of 1p/share and the share price is unchanged at 77.5p. Shoe Zone (LON: SHOE) is paying a dividend of 14.9p/share and the share price slumped 17p to 235p.