Ethernity Networks (LON: ENET) has invoiced $890,000 of a $1.05m contract with a US aerospace system products provider. The contract will be extended by $290,000. There will be further revenues in the second half. The share price rebounded 18.5% to 0.08p.
BUPA will offer prostate cancer test EpiSwitch PSE, which was developed by Oxford BioDynamics (LON: OBD). It already offers cancer immunotherapy test (EpiSwitch CiRT). The share price is 10.5% ahead at 0.525p.
ImmuPharma (LON: IMM) has reached a significant milestone in proving the unique mechanism of action of its P140 immune technology platform. P140 does not reduce or block the body’s ability to mount a specific immune response, and it is safe and effective for patients with systemic lupus erythematosus. The share price rose 7.3% to 3.6p.
GenAI services provider GenIP (LON: GNIP) has received more than 450 Invention Evaluator assessment orders and completed two executive hires since September. GenIP is developing new services. The share price improved 7.84% to 27.5p.
Energy company Kistos Holdings (LON: KIST) says that the Jotun FPSO sail away from the Worley Rosenberg yard in Norway. The first stage is tests at the quayside and then it will be towed for inshore sea trials. The final commissioning is expected to lead to first production by the end of the second quarter. This will increase the Balder area peak daily production by 80,000 barrels of oil equivalent/day (gross). Kistos has a 10% stake. The share price increased 5.31% to 119p.
FALLERS
Hornby (LON: HRN) is the latest company to want to leave AIM. Phoenix Asset Management investment company Castelnau owns 54.9% of the hobby products supplier and other shareholders take the total in favour to more than 70%, so the departure is almost certain to be approved at a general meeting. Liquidity is limited and annual costs of £400,000 will be saved. JP Jenkins will provide a matched bargain facility. There is also an exchange facility where Hornby shares can be swapped for shares in fully listed investment company Castelnau at the equivalent of 19.3p/share to retain an indirect interest in Hornby. The share price slumped 29% to 13.5p.
Ground engineering contractor Van Elle (LON: VANL) says the Building Safety Act id delaying approvals of residential projects and there are also delays in the Canadian subsidiary’s rail work. The future of the Canadian business is being considered. The construction market remains difficult with residential particularly weak. Zeus has reduced its 2024-25 pre-tax profit forecast by one-third to £4m, while next year’s forecast has been reduced from £7.6m to £7m. The share price declined 14.3% to 33p, which is 12 times prospective earnings.
Southern Energy Corp (LON: SOUC) has raised £4.8m at 4.3p/unit. A unit includes one share and one-half warrant exercisable at 5.3p each. Gas prices are likely to rise as demand for LNG exports rises. The cash will fund three drilled and uncompleted wells on its Gwinville acreage, plus the drilling of two vertical Cotton Valley wells on the Mechanicsburg acreage. This investment is expected to add more than $20m in developed producing NPV10 value. The drilling should begin in the second quarter. More than 100 additional horizontal drilling locations have been identified at Gwinville. The amount of principal repayable on the credit facility will be reduced. Management wants to gain approval from convertible not holders to convert them into units at the units at the issue price. The share price fell 10.5% to 4.25p.
Developer of kinase inhibitors for autoimmune disease and cancer treatments Sareum (LON: SAR) has raised £1.07m at 1.25p/share. This follows the acquisition of the licence for SRA737, which targets cancer cell replication and DNA damage repair mechanisms, following its return to the CRT Pioneer Fund by a US biopharma company. The deal includes an increase in Sareum’s share of future revenues to a net 63.5%, from 27.5%. In the short-term, the ongoing costs will be limited to data storage and IP management. The share price slipped 7.58% to 15.25p.
Ex-dividends
Brooks Macdonald (LON: BRK) is paying an interim dividend of 30p/share and the share price fell 27.5p to 1422.5p.
Fiske (LON: FKE) is paying an interim dividend of 0.27p/share and the share price slipped 0.5p to 59.5p.
Heavitree Brewery (LON: HVT/HVTA) is paying a final dividend of 3.85p/share and the ordinary share price is unchanged at 215p.
Kitwave (LON: KITW) is paying a final dividend of 7.45p/share and the share price declined 8.25p to 250.25p.
Redcentric (LON: RCN) is paying an interim dividend of 1.2p/share and the share price is unchanged at 122.75p.