MicroSalt (LON: SALT) has received an initial purchase order for 50,000lbs from a major food and drink manufacturer for one of its product lines. Annualised volumes should be 200,000lbs and there could be orders for two other products. There is also a follow-on order from a B2B customer and the 63,860lbs will be delivered in January. Two other B2B orders have been won. The share price soared 39.1% to 64p. Tekcapital (LON: TEK) owns 69% of MicroSalt. Another investee company Innovative Eyewear has launched the first ANSI-certified smart safety glasses for all-day wear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. The Tekcapital share price rose 12.9% to 8.75p.
Payments technology developer Eckoh (LON: ECK) is recommending a 54p/share bid from funds managed by Bridgepoint Advisers II. The share price jumped by one-quarter to 52.5p. The bid values Eckoh at £169.3m. The share price has not been at that level since the end of 2022, but it is the price indicated back in August. The bid values Eckoh at 20 times prospective 2025-26 earnings.
Digital health services provider Induction Healthcare (LON: INHC) has secured a contract worth £1.5m to improve patient access to diagnostic tests for the North Central London Integrated Care System. It will enable integrated referrals and smart scheduling. The interims will be published on 5 November.The share price recovered 13.3% to 8.5p.
ValiRx (LON: VAL) has signed an amendment to the letter of intent with TheoremRx Inc for the sub-licensing of cancer treatment VAL201 with the exclusivity period extended to the end of 2024 in exchange for a 0.5% stake in TheoremRX after it reverses into a shell. The share price improved 6.25% to 1.7p.
FALLERS
Medical materials developer RUA Life Sciences (LON: RUA) doubled contract manufacturing sales in the six months to September 2024 and overall revenues were 87% ahead at £1.5m. The Abiss acquisition did not make a contribution in the first half. A £900,000 acquisition gain should lead to an interim pre-profit of £400,000, compared with a £1.4m loss previously. The year-end is being changed to September. The share price declined 13.7% to 11p.
Nexus Infrastructure (LON: NEXS) is spending some of its cash pile on Coleman Construction & Utilities, which is involved in civil engineering for water and marine sectors. This diversifies the business away from housebuilding infrastructure. The purchase will cost up to £4.4m and be immediately earnings enhancing – EBITDA was £700,000 last year. Trading is in line with expectations and the loss should be halved to £2.4m in the year to September 2024. A small loss is still expected this year. The share price is 3.85% lower at 125p.
Tlou Energy (LON: TLOU), which plans to leave AIM to save money, reports a first quarter update indicating progress with the Lesedi CBM gas-to-power project in Botswana. First electricity sales are expected in the middle of next year. There was an operating cash outflow of A$800,000, plus A$1.7m of capital investment in the period. The share price fell a further 2.17% to 0.0675p, having been 0.063p at the start of the day.
Katoro Gold (LON: KAT) reduced its interim loss from £311,000 to £207,000 thanks to a reduction in administrative costs. There was £250,000 in cash at the end of June 2024. Katoro Gold has acquired the White Pine uranium project in Ontario. Management believes that there will be other opportunities as junior miners run short of funds. The share price slipped 3.85% to 0.0625p.