Trafalgar Property Group (LON: TRAF) says founder Christopher Johnson has converted his £905,000 of loan notes into 226.25 million shares at 0.4p each and sold them at 0.044p each. The chief executive has acquired £50,000 worth of shares and the finance director £10,000 worth. A further 26 million shares have been issued to cover certain liabilities. The share price soared 38.9% to 0.0625p.
Kazera Global (LON: KZG) reported an increased interim loss due to a swing from a foreign exchange gain to a loss. The 60%-owned Whale Head heavy mineral sands project in South Africa is waiting for a decision on a National Nuclear Regulator permit which should happen in April. The share price increased 14.3% to 0.4p.
Executive search consultancy Norman Broadbent (LON: NBB) returned to profit and moved into a net cash position in 2023. A strong brand name and a broad spread of sectors have helped Norman Broadbent prosper in a market that has been tough. Fee income from established fee earners is one-third higher and more fee earners have been taken on. Net fee income was 44% ahead at £10.5m and pre-tax profit was £309,000. Net cash is £445,000. Management believes that it can achieve net fee income of £15m by 2025. The share price jumped 12.9% to 8.75p, which is the highest it has been since June 2021.
Allergy Therapeutics (LON: AGY) reported a much higher interim loss of £14.9m as revenues fell 16% to £33.6m. Lenders are allowing the company to drawdown a further £15m from its facility provided by major shareholders and that should provide enough cash to get to the third quarter of 2024. The share price improved 11.1% to 3p.
FALLERS
Infrastructure India (LON: IIP) shares returned from suspension when the interims to September 2023 were published and the share price dived by four-fifths to 0.1p. The board is proposing a winding-up of the company as it disposes of its assets and the share quotation will be cancelled if the proposals are passed at the AGM. Net liabilities are £217.4m.
Drug discovery company C4X Discovery (LON: C4XD) also plans to cancel its AIM quotation and re-register as a private limited company if it gains shareholder approval at a general meeting on 15 April. Shareholders owning 57% of the shares are in favour. Management believes that it will be easier to raise funds as a private company and it will save money. C4X Discovery has raised £63m on AIM. In August 2022, £5.7m was raised at 25p/share. There is still £20.8m in the bank. In the six months to January 2024, revenues were £24.6m, due to milestone payments, compared with £1.7m in the first half of the previous year. The company is generally loss-making without substantial milestone payments. The share price slumped 24% to 10.035p.
Cadence Minerals (LON: KDNC) investee company European Metals Holdings (LON: EMH) says that the Cinovec project in the Czech Republic is in the process of completing a definitive feasibility study, but it will not be completed in the first quarter. There is potential to improve the lithium processing. The Cadence Minerals share price dipped 8.7%, while the European Metals Holdings share price is 3.77% lower at 12.75p.
There has been profit-taking in Empire Metals (LON: EEE) after it published its Pitfield development plan for the next 12 months. This involves further drilling at the Pitfield project in Western Australia, plus initial work on the design and construction of a demonstration plant. Potential milestones include a maiden JORC-compliant mineral resource estimate. The share price fell 6.52% to 6.45p, which is still 291% higher than at the end of 2022.
