Downhole oil and gas technology developer Enteq Technologies (LON: NTQ) directors have decided to commence a formal sale process, which will be handled by Gneiss Energy. The company has already contacted some interested parties and is in discussions with two of them. There should be enough cash to last to June. The share price rebounded 45% to 1.45p.
Ground engineer Van Elle (LON: VANL) has signed an eight-year agreement with Wood Transmission and Distribution for piling and foundations for transmission schemes to connect offshore power to the grid in Scotland. This could be worth more than £30m. The recent acquisition of Albion Drilling will provide a base in Scotland for Van Elle. The share price rose 7.69% to 42p.
Tertiary Minerals (LON: TYM) has published drill results for four holes at the Mushima North project in Zambia. One hole shows a silver-in-soil geochemical anomaly that extends over a 1.3km long trend and is open ended to the northeast and southwest. There are further assays of holes to come. The share price is 7.14% to 0.075p.
Automated transport analytics technology provider Cordel (LON: CRDL) is entering the continental Europe market through a partnership with rail infrastructure services provider VRSD. This is a £200bn market. There will be a proof of concept contract. The share price improved 6.9% to 7.75p.
FALLERS
Natural resources data and information provider Getech Group (LON: GTC) says 2024 revenues were 17% ahead at £4.7m – slightly below forecast. Although £2m of annualised costs have been cut they have not yet all come through, so the pre-tax loss is £1.3m, down from £3.6m in 2023. Net cash is £900,000. There is further cost cutting. The order book is worth £4.1m. Cavendish believes that Getech can be profitable this year. The share price slipped by one-fifth to 1.6p.
Fuel cell technology developer Proton Motor Power Systems (LON: PPS) is sending the circular to shareholders to gain approval for the departure from AIM. The share price fell a further 17.7% to 0.35p.
There was a short-term trading improvement in December for Sanderson Design Group (LON: SDG), but this has not continued, and profit expectations have been reduced. Band sales are 9% lower. Revenues are expected to decline from £108.6m to £101m, while pre-tax profit could slump from £12.2m to £4.2m – previously £7.2m was forecast. There has been less high margin work for the manufacturing division, which hit overall profitability. The share price slid 15.7% to 45.5p.
AI-technology services provider Pri0r1ty Intelligence (LON: PR1) shares have continued to decline since it joined AIM at the end of 2024. The fundraising for the reversal of the business into the previously listed shell Alteration Earth was done at 13.5p. Rupert Labrum, one of the original shareholders in the shell, has reduced his stake from 3.4% to 2.34%. The share price declined 6.25% to 7.5p.