Refurbished technology supplier musicMagpie (LON: MMAG) had a record Black Friday period, offsetting some of the weakness earlier in the year. Full year revenues have fallen from £143.3m to £136.6m, although gross margin improved. EBITDA improved by £1m to £7.5m. Net debt was £13.1m at the end of November. The share price recovered 19.6% to 13.75p.
Pantheon Resources (LON: PANR) has been awarded 66,000 acres of new licences on the Alaska North Slope to add to the existing acreage of 193,000 acres. The additional acres should give the company the remaining reservoir potential of the Kodiak field. The share price is 9.91% ahead at 19.125p.
Dispute resolution services provider Driver Group (LON: DRV) moved back into profit in the year to September 2023, mainly due to higher gross margins. The £1.1m pre-tax profit was still lower than the £2m reported for 2020-21. The cost base has been reduced and additional projects have been won. Net cash is £5.8m. The final dividend is 0.75p/share and management says that there is around £1m of surplus capital that can be used for share buy backs. The core businesses will be rebranded Diales and there are plans to move into other sectors, such as aerospace and IT. The share price is 9.8% higher at 28p.
Kazera Global (LON: KZG) says African Mineral Sands has completed the acquisition of 250 million shares at 1.5p each, which was 183% ahead of the market price on 12 December. That takes its stake to 26.7%. The share price rose 4.76% to 0.55p.
FALLERS
Beacon Energy (LON: BCE) is continuing to clean up the Schwarzbach-2 well in onshore Germany. A sand jetting operation is planned for January in order to build up to full production. Current production is 40 barrels/day. The share price is 17.1% lower at 0.085p.
Red Rock Resources (LON: RRR) raised £500,000 at 0.075p/share. This will be invested in lithium production and export operations in Zimbabwe, gold studies in Burkina Faso and working capital. The release of capital from the DRC is likely to be delayed until after next week’s election. The share price slumped 19.5% to 0.0825p.
Yesterday evening, ValiRx (LON: VAL) announced a placing to raise £1.6m at 6p/share and retail offer of up to £250,000. Directors are subscribing for another £30,000 worth of shares. The share price fell 16.1% to 6.5p. The cash will fund the exploitation and integration of the BioBank materials and commercial development within Inaphaea, plus development work.
Mixed signal ASICS developer EnSilica (LON: ENSI) is raising £1.56m at 40p/share and subscribers also receive one warrant exercisable at 55p for each share. The share price declined 16.1% to 39p. The cash will support tender activity and the carrying out of new orders. There is up to $360m of potential work.
Ex-dividends
DSW Capital (LON: DSW) is paying an interim dividend of 1.25p/share and the share price is unchanged at 51p.
Impellam Group (LON: IPEL) is paying an interim dividend of 55.9p/share and the share price rose 35p to 925p, better reflecting the value of yesterday’s bid.
Northamber (LON: NAR) is paying a final dividend of 0.3p/share and the share price is unchanged at 44.5p.
Oxford Metrics (LON: OMG) is paying a final dividend of 2.75p/share and the share price is 1p lower at 100p.
Polar Capital (LON: POLR) is paying an interim dividend of 14p/share and the share price rose 4.5p to 441.5p.
Vertu Motors (LON: VTU) is paying an interim dividend of 0.85p/share and the share price increased o.85p to 71.95p.
