More good news from health assessment technology developer GENinCode (LON: GENI), which has secured a collaboration agreement with Thermo Fisher Scientific to distribute and manufacture of the CARDIO inCode-Score® Polygenic Risk Score for the prediction and prevention of heart disease. This follows the New York approval for the test. The deal covers the US as well as Europe, the Middle East and Africa. The FDA approval process is progressing. The share price progressed a further 30% to 3.9p.
Eco (Atlantic) Oil & Gas (LON: ECO) has entered a framework and option agreement with Navitas Petroleum for the Orinduik Block offshore Guyana and Block 1 CBK offshore South Africa. Navitas will pay $2m for the option to farm-in to the projects. The Orinduik option can be exercised for $2.5m to acquire an 80% interest. Eco’s carry on Orinduik is capped at $11m. The Block 1 CBK option, which covers an interest of up to 47.5%, can be exercised for $4m. The Eco carry is capped at $7.5m. Navitas also has an option to acquire interest in other Eco projects, and the two companies will potentially start joint ventures for new projects. The share price increased 20.9% to 9.25p.
Digital media company Digitalbox (LON: DBOX) is trading ahead of expectations, which are revenues of £4.1m and pre-tax profit of £100,000. Income appears to be gaining momentum even though the advertising market remains tough. Existing and new brands are all doing well. Further acquisitions are being considered. Panmure Liberum is not changing its forecasts until the full year trading statement in January. The share price recovered 15.9% to 4.75p.
Offshore energy market services provider Tekmar Group (LON: TGP) has won a contract for a UK offshore wind farm worth more than €8m. Tekmar will install its latest cable protection system, and the revenues will be recognised in 2025-26 and 2026-27. The order book is currently worth £29m, which is 60% higher than last year. Revenues should be around £29m for the year to September 2025, while EBITDA should be around breakeven. Net debt is £2.8m. The share price rose 13.1% to 6.375p.
FALLERS
AI-based IP services provider GenIP (LON: GNIP) has raised £300,000 at 10p/share to accelerate the automation of its platform and grow globally. There are opportunities in Asia and Latin America, where technology transfer is a less developed market, and additional sales resource is required to take advantage. The share price slipped 44.6% to 10.25p.
Metals One (LON: MET1) is raising £4.4m at 2p/share and the cash will be spent on Lions Bay Resources, where it recently acquired an interest in convertible loan notes for up to $1.8m. Lions Bay Resources plans to refurbish a cogeneration plant in South Africa, which will be used to generate power and roast refractory gold concentrates. Oak Securities has been appointed as joint broker. The share price declined 40.7% to 2.015p.
Phoenix Copper (LON: PXC) has dawn down a $2.1m convertible loan note and used the cash to repay the short-term loan facility of $1.46m, which had an annual interest charge of 15%. Prior to this $627,000 was converted into shares at 2.41p each. These shares are likely to be sold in the short-term and could hold back the share price, which fell 27% to 1.825p.
People training and development services provider MindGym (LON: MIND) reported a one-third decline in interim revenues to £13.6m, while the loss jumped from £900,000 to £3.4m. There are signs of recovery in the middle of a three-year transformation strategy. A lower full year loss is forecast, suggesting a profitable second half. The share price slid 8% to 11.5p.
Ex-dividends
Cake Box (LON: CBOX) is paying an interim dividend of 3.6p/share and the share price fell 3.5p to 206.5p.
Croma Security Solutions Group (LON: CSSG) is paying a final dividend of 2.4p/share and the share price dipped 1p to 78.5p.
Goldplat (LON: GDP) is paying a dividend of 0.12p/share and the share price is unchanged at 9.75p.
Orchard Funding Group (LON: ORCH) is paying a final dividend of 1p/share and the share price declined 1p to 59.5p.
Supreme (LON: SUP) is paying an interim dividend of 1.6p/share and the share price improved 0.5p to 157.5p.