Mercantile Ports & Logistics (LON: MPL) says 2024 revenues are expected to be £4.6m, which is lower than expected. Activity levels are improving. On the plus side, negotiations continue about the main debt facility and are expected to be resolved in the short-term. Hunch Ventures has provided a loan facility, that is so far undrawn. The share price rebounded 36.6% to 1.325p.
Following the departure of its chief executive Wendy Lawrence and the loss of a NHS 111 contract healthcare services provider Totally (LON: TLY) has renewed two multi-year contracts worth a total of £30m, including option extension periods. The original contracts had a similar annual value. David and Monique Newlands have been adding to their stake, and it has risen from 5.39% to 6.67%, while Trafalgar Capital increased its shareholding from 6.04% to 8.16%. Earlier in the week, Liontrust sold its 525% shareholding. The share price recovered 13.6% to 3.75p.
Cannabis-based treatments developer Celadon Pharmaceuticals (LON: CEL) announced on Wednesday that it has entered into a £1.95m, three year secured committed credit facility with a lender in Switzerland. This is secured on all the company’s assets. The interest charge is 10% on drawn balances. There are £450,000 of fees and expenses related to the facility. The share price improved 11.1% to 22p.
Retail software provider itim Group (LON: ITIM) says that 2024 revenues were 5% better than expected at £17.9m thanks to contract wins in the second half. This enabled itim to move back into profit. Zeus forecasts a 2024 pre-tax profit of £200,000 and upgraded its 2025 figure to £500,000. The share price rose 9.76% to 45p.
FALLERS
Online building materials retailer CMO Group (LON: CMO) has reviewed its strategic options and decided that it should leave AIM because it cannot source the finance it requires. This should save £700,000/year. JP Jenkins will provide a matched bargains market. CMO joined AIM at the height of the Covid-related boom in DIY and its results have declined since then. The market is currently declining, although there are signs of improvement in February. CMO raised £45m at 132p/share when it joined AIM in July 2021. The share price dived 79.5% to 0.85p.
Yesterday’s announcement by Cleantech Lithium (LON: CTL) that the ASX listing has been delayed until May and Tony Esplin will not be taking up the chief executive role as intended has hit the share price. The 2024 results of the Chile-focused lithium projects developer will be included in the ASX prospectus. The share price declined by one-eighth to 0.525p.
Software supplier K3 Business Technology (LON: KBT) reported a 26% reduction in revenues from continuing activities to £23.2m and the loss increased from £2.3m to £2.8m. K3 could return to profit this year. The share price has recovered since the sale of NexSys for £36m. There will be a cash distribution to shareholders. The share price slipped 5% to 95p.
Data analysis software provider Cirata (LON: CRTA) has completed the first Live Data Migrator implementation via data migration as a service for a telecoms customer in the UAE. The contract is worth $50,000. The share price fell 3.42% to 21.875p.
Ex-dividends
Diales (LON: DIAL) is paying a dividend of 0.75p/share and the share price is unchanged at 21.5p.
Jarvis Securities (LON: JIM) is paying a dividend of 1.5p/share and the share price fell 1p to 46.5p.
Sylvania Platinum Ltd (LON: SLP) is paying an interim dividend of 0.75p/share and the share price slipped 0.3p to 45.5p.
PetroTal Corp (LON: PTAL) is paying a dividend of 1.5 cents/share and the share price rose 0.15p to 38.75p.