CoStar Group Inc is bidding 110p/share for On The Market (LON: OTMP), which values the property listings company at £99m. The share price jumped 52.5% to 107.5p, compared with the February 2018 placing price of 165p. CoStar Group Inc says that On The Market provides a good entry point for the UK residential property market. The purchaser owns US-based Homes.com.
Capital Metals (LON: CMET) says that its appeal against the loss of two industrial mining licences over the Eastern Minerals heavy mineral sands project in Sri Lanka has been successful. The licences will be reissued. The share price is 11.7% higher at 5.25p.
A trading update from GB Group (LON: GBG) shows improved operating margins before foreign exchange gains in the first half. Location services revenues grew, but this was offset by lower identity services income. Revenues fell by 1% to £132.4m, while operating profit improved from £21.9m to £23.4m. That excludes net gains on foreign exchange of £300,000, down from £6.2m last time. Net debt was £104.8m at the end of September 2023. The interims will be published on 28 November. The share price improved 10.2% to 239.1p.
Hummingbird Resources (LON: HUM) shares rose 13.5% to 10.5p ahead of an operational and trading statement on 26 October.
Serabi Gold (LON: SRB) has bought a 40tph capacity ore sorter for the Coringa gold project in Brazil. This will cost up to €930,000 including import costs. This should be operational in the third quarter of 2024. This should help to double gold production. The share price increased 8.57% to 38p.
FALLERS
In-game advertising company Bidstack (LON: BID) has fallen 14.9% to 0.285p following yesterday’s announcement of a proposed financing. It involves cybersecurity company Irdeto, which has a £13.5% stake. The secured convertible loan facility will be drawn in four tranches, and it totals up to £2.4m. The conversion price is the lower of 0.275% and a 10% discount to the market price on conversion. The security is shares in subsidiaries. There will have to be a share capital reorganisation to reduce the par value to 0.001p, followed by a 1,000-for-one share consolidation.
SkinBiotherapeutics (LON: SBTX) has extended its contract with the cosmetics division of Croda International for another 12 months. It will be investigating previously unseen properties. Studies are due to run from late 2023 into early 2024. Croda International is responsible for developments and commercialisation of SkinBiotix technology. The share price slipped 4.65% to 20.5p.
Musical instruments retailer Gear4music (LON: G4M) grew first half revenues in the UK by 3% but sales outside the UK fell by 15%. Overall revenues were down by 6%, although slightly higher margins offset some of the decline. There have been £4m of annualised savings. The full year pre-tax profit is still expected to be £1.1m. The share price declined 1.85% to 132.5p.
Ex-dividends
Animalcare (LON: ANCR) is paying an interim dividend of 2p/share and the share price declined 2.5p to 177.5p.
Next 15 Group (LON: NFG) is paying an interim dividend of 4.75p/share and the share price fell 4p to 619p.
Sanderson Design Group (LON: SDG) is paying an interim dividend of 0.75p/share and the share price slipped 3.5p to 102.5p.
M Winkworth (LON: WINK) is paying a dividend of 2.9p/share and the share price is unchanged at 141.5p.
