PayPoint (LON: PAY) is bidding for Appreciate (LON: APP) in a deal that values the prepaid vouchers group at £83m – based on a PayPoint share price of 580p. The offer is 33p in cash and 0.019 of a PayPoint share for each Appreciate share. A 0.8p a share dividend will also be paid to Appreciate shareholders. The PayPoint share price has fallen to 540p. PayPoint believe the acquisition will be earnings enhancing. The Appreciate share price has jumped 55.7% to 40.55p. The share price has not been this high for 16 months.
Rosslyn Data Technologies (LON: RDT) has announced two contract wins worth £1m over five years. Both deals came through partners. After last week’s slump, the share price recovered by 11.8% to 0.95p.
Television businesses developer Lord Waheed Alli has joined the board of Marwyn Acquisition Company (LON: MACP) and the investing strategy will be developing a content and media business. The share price rose 12.9% to 1.975p. Lord Waheed Alli co-founded TV production firm Planet 24 and after that was bought by Carlton TV, after which he co-founded Shine. Monthly advisory fees paid to Marwyn Capital will increase to £25,000 and other fees for managed services will be raised. The company will be renamed 450 plc.
Digital media company Brave Bison (LON: BBSN) has secured a new financing facility from Barclays Bank. Brave Bison has net cash of £4.8m and the revolving credit facility provides £3m over three years at an interest margin of 2.75 percentage points. The cash will be used for acquisitions. The share price is 4.76% higher at 2.2p.
AfriTin Mining (LON: ATM) has committed the commissioning of the Uis phase 1 expansion project. Production at the Namibian mine will ramp up from 780 to 1,200 tpa of tin concentrate over the next three months. There is potential by-product of lithium and tantalum. The share price rose 6.25% to 4.25p.
Fashion brand Joules Group (LON: JOUL) is still assessing financing options, which include CVA planning. Joules says trading for the eleven weeks to 30 October 2022 and working capital is worse than expected. Outerwear and knitwear sales have been hit be milder weather. Online sales have been weak, but store sales are slightly better than expected. Higher levels of promotion have held back margins. Net debt was £25.7m at the end of October 2022, which leaves little headroom after other requirements. Bridge financing is required. The share price slumped 25.8% to 10.16p.
Tern (LON: TERN) says investee company Wyld Networks has raised £580,000. The cash will accelerate growth and add to the commercial team. Tern’s holding has been diluted from 49.2% to 46.5%. The Tern share price slipped 1.94% to 7.6p.
