Intelligent Ultrasound (LON: IUG) is selling its Clinical AI operations to GE. The payment will be £40.5m. So far, £12.2m has been invested in the development of AI. The consideration is equivalent to 12.4p/share. This deal does not include the NeedleTrainer and NeedleTrainer Plus products or the simulation business. The remaining business had annual revenues of £10m last year. Lower simulation sales meant that the latest interim revenues fell from £6.1m to £5.3m. That includes £1.5m from Clinical AI, compared with £2m for the whole of the previous year. There are plans to return a substantial amount of this cash to investors. The share price jumped 44.8% to 10.5p.
Building products manufacturer Alumasc (LON: ALU) has done better than expected in the year to June 2024. Organic growth was more than 6%, even though the construction market fell 2%. Cavendish has raised its pre-tax profit estimate from £12m to £12.6m, it has also edged up the 2024-25 forecast from £13.1m to £13.5m. All three divisions have done better. Net debt is £6.9m and could halve by next June. The share price improved 15.8% to 224p.
Graphene technology developer Versarien (LON: VRS) says a lack of resources means that the employment tribunal hearing relating to former boss Neill Ricketts has been delayed. The share price increased 15.2% to 0.095p.
Life sciences company Avacta (LON: AVCT) is satisfying the £3.13m payment on its unsecured convertible bonds in cash. The remaining principal is £33.15m. The share price rose 13.9% to 74p.
FALLERS
Alba Mineral Resources (LON: ALBA) has raised £300,000 at 0.035p/share. A retail offer could raise up to £100,000 and closes on 19 July. The cash will finance blasting operations at the Llechfraith target at the Clogau gold mine in Wales. It also intends to process fines material. The share price slipped 27.3% to 0.04p.
Crossword Cybersecurity (LON: CCS) raised £500,500 at 5p/share. Chief executive Tom Ilube has subscribed £200,000 of this cash, increasing his stake to 16.7%. The share price declined 23.6% to 5.25p.
Political information publisher Merit Group (LON: MRIT) grew 2023-24 revenues by 7% to £19.9m with the growth coming from the data and technology business. Further investment in that part of the business should continue its growth. Pre-tax profit improved from £100,000 to £2.1m, helped by high margin software sales. However, Canaccord Genuity has cut its forecast pre-tax profit from £1.7m to £900,000. The share price dived 15.7% to 72.5p.
Shares in semiconductor designer Sondrel (LON: SND) have returned from suspension following publication of 2023 accounts, but plans are going ahead to cancel the AIM quotation. Sondrel lost £18m on revenues of £9.43m. The share price fell a further 14.3% to 4.5p.
Ex-dividends
Celebrus Technologies (LON: CLBS) is paying a final dividend of 2.23p/share and the share price is unchanged at 255p.
Dewhurst (LON: DWHT) is paying an interim dividend of 5p/share and the share price is unchanged at 1300p.
Hercules Site Services (LON: HERC) is paying an interim dividend of 0.6p/share and the share price is unchanged at 38p.
Victorian Plumbing (LON: VIC) is paying an interim dividend of 0.52p/share and the share price dipped 2.4p to 90.6p.
M Winkworth (LON: WINK) is paying a dividend of 3p/share and the share price is unchanged at 200p.