Mosman Oil and Gas (LON: MSMN) says the operator of the Vector helium project, where Mosman Oil and Gas has a 20% working interest, has signed a drilling contract to drill five wells. The purchase of an 82.5% stake in Sagebrush project should be completed by early February. The share price jumped 38% to 0.0345p.
Medical and security technology developer Kromek (LON: KMK) has secured multi-year agreements with Siemens Healthcare, which will produce cadmium zinc telluride (CZT) detectors for single photon emission computed tomography (SPECT) applications. Kromek will receive $37.5m over five years and the first instalment is $25m. This is a non-exclusive agreement and enables Kromek to move into profit this year. Interim revenues fell from £7.1m to £3.7m. There was £600,000 in the bank at the end of October 2024, although net debt was £11.7m. The strengthened balance sheet should at least delay any requirement for another share issue. The share price recovered 27.4% to 6.75p.
Sancus Lending (LON: LEND) says majority shareholder Somerston is providing up to £10m of junior funding to support loan financing facilities. The company has drawn down £105m of its existing £125m loan facility. At the end of 2024, loan under management was £238m. Revenues increased 36% to £16.8m and the company should breakeven after a £2.8m gain on the repurchase of zero dividend preference shares. The share price rose 28.9% to 0.58p.
Fevertree Drinks (LON: FEVR) has signed a strategic partnership with brewer Molson Coors, which will acquire a 7.5% stake in the mixer drinks supplier at 654.2p/share. The £71m raised will be used for share buybacks. The company’s mixer drinks will be sold through Molson Coors’ US distribution network and marketing will be ramped up. There will also be US production of mixer drinks. The share price moved ahead by 21.9% to 802.25p.
ITM Power (LON: ITM) reported interims in line with the recent trading statement, but cash expectations have been upgraded. Interim revenues were £15.2m, including £10.8m from one customer, and cash was £203m at the end of October 2024. The cash outflow is slowing, and net cash is expected to be £185m-£195m at the end of April 2025. The contract backlog is £135.3m. The share price increased 7.48% to 37.66p.
FALLERS
Futura Medical (LON: FUM) traded in line with expectations in 2024, but US sales of erectile dysfunction product Eroxon are not growing as quickly as hoped. US distributor Haleon is refining its marketing strategy. Some European launches have been delayed. It is unclear whether the market size will be as large as anticipated. Net cash is £6.6m. That will last until late 2026. The share price slumped 41.8% to 18.1p.
Petards Group (LON: PEG) 2024 revenues were lower than forecast at £12.1m, although there was an improvement in the second half. The loss is expected to increase to £900,000. The order book for security and surveillance systems has nearly trebled to £7.1m. Rail demand remains weak but there is potential for recovery. The share price dipped 18.8% to 6.5p.
Hospitality systems supplier Vianet (LON: VNET) says slow customer decisions have hit new business and unattended retail customers are taking up the rental option rather than buying outright. Forecast 2024-25 revenues have been reduced by 9% to £15.7m. Cavendish has more than halved it earnings forecast to 2.8p/share. The share price fell 11.8% to 89.5p.
Ex-dividends
BP Marsh (LON: BPM) is paying an interim dividend of 6.78p/share and the share price slid 10p to 685p.
Fonix (LON: FNX) is paying a dividend of 3p/share and the share price is unchanged at 222.5p.