Immotion (LON: IMMO) is selling its location-based entertainment business for $25.1m, having raised £100,000 from disposing of Uvisan. Shareholders are likely to receive 3p a share out of the sale proceeds with £6.5m retained for the remaining business after buying back shares from management leaving with the location-based entertainment business. Immotion will concentrate on the home-based entertainment business Let’s Explore Media. This will be expanded via acquisitions. The share price jumped 53.4% to 3.375p. Immotion joined AIM in July 2018 at a placing price of 10p a share.
Digital advertising services provider Dianomi (LON: DNM) says revenues were £35.8m in 2022 and EBITDA was £1.5m. There is a strong pipeline of potential new business this year and management indicates that second quarter advertising budgets are expected to improve. Even so, the growth rate of digital advertising has slowed. Dianomi is cautious about prospects and reducing costs, but after a long period of decline the share price has reacted positively, rising 25.9% to 85p.
AI-based cyber security services provider Smarttech247 (LON: S247) has won additional contracts. A US technology company has signed a three-year agreement worth $400,000 and a university in Ireland a two-year deal worth $450,000. The share price improved 8.47% to 32p. Last December’s placing price was 29.66p.
Share buying by finance director Steve Winters has sparked a recovery in the share price of digital transformation services provider TPXimpact (LON: TPX). He has acquired 220,000 shares at 21.34p each. The share price rose 7% to 23p, although it has still halved this week.
Transport and logistics company Xpediator (LON: XPD) says 2022 revenues were nearly £400m, up from £297m. This means that profit will be much better than the £9m previously expected. Net debt has more than halved over six months to £3.6m. Freight forwarding operations in Lithuania, Bulgaria and Romania performed particularly well. The loss making Beckton warehouse will be closed in February. Bid discissions continue concerning the indicative offer of 42p a share. The share price moved up 5.92% to 40.25p.
Floorcoverings supplier James Halstead (LON: JHD) says interim revenues grew by 8-9% in the first half, which was held back by shipping problems. International freight availability is improving. Supply concerns have eased, and stocks have been reduced. WH Ireland is maintaining its 2022-23 pre-tax profit forecast at £50.1m, down from £52.1m because of higher costs. The share price was 5.98% higher at 195p.
The Orcadian Energy (LON: ORCA) share price has declined 9.09% to 10p. That is the price at which it raised £500,000 to fund the development of the Pilot licence area in the North Sea.
Yesterday afternoon, medical imaging technology developer Polarean Imaging (LON: POLX) has gained New Chemical Entity designation from the US FDA for its drug product XENOVIEW. There is a designated five-year market exclusivity period. XENOVIEW is a hyperpolarised contrast agent prepared from the Xenon Xe 129 gas blend that is used in magnetic resonance imaging. It can be used for evaluation of lung ventilation for patients aged 12 and older. It does not expose the patients to ionising radiation. The share price had time to rise 13.8% to 46.1p yesterday, but it has fallen back 4.56% to 44p.
88 Energy (LON: 88E) is raising up to £8.1m (A$15.1m) at 0.55p a share, which was a one-fifth discount to the previous closing price. The oil and gas company had A$14.1m in cash at the end of December. The cash will fund the Hickory-1 well at project Phoenix (formerly Icewine East) in Alaska, pay for new project Leonis acreage and provide working capital. There should be enough cash for at least 12 months. Management is also seeking additional projects. The share price fell 5.3% to 0.625p.
Growth is accelerating at PCI -PAL (LON: PCIP) and revenues were one-third higher in the six months to December 2022, helped by currency movements. First quarter growth was 29%. Total annualised contract revenues are £14.7m. Net cash fell to £1.9m, but this should be enough to reach profitability. The share price declined by 5.26% to 54p.
Ex-dividends
Greencoat Renewables (LON: GRP) is paying a dividend of 1.54 cents a share and the share price was down 1.25 cents to 111.75 cents.
Ramsdens Holdings (LON: RFX) is paying a final dividend of 6.3p a share and the share price fell 5.5p to 228.5p.
Totally (LON: TLY) is paying an interim dividend of 0.5p a share and the share price slipped 0.35p to 24.25p.
Watkin Jones (LON: WJG) is paying a final dividend of 4.5p a share and the share price is 3.5p lower at 109.9p.
