Live Company Group (LON: LVCG) division KPOP LUX has signed an agreement with branding and promotions business Birdman Inc to collaborate on an annual K-Pop concert in Nagoya in Japan. The initial event will be in June. KPOP LUX will receive a $1m licence fee, while ticket revenue will go to Birdman. KPOP LUX will own all the commercial rights to the event. The share price jumped 36% to 3.4p
Clean water technology developer MyCelx Technologies Corp (LON: MYX) has secured a second REGEN water treatment contract in the Middle East. This and other project wins should contribute $2.3m in revenues in 2023. The share price rose 18.9% to 31.5p.
Infrastructure India (LON: IIP) is in talks to dispose of investee company Distribution Logistics Infrastructure. There are several parties interested. The shares did not have a chance to react when the news was announced on Friday, and they have risen 14.3% to 0.4p.
Cyber security software provider Kape Technologies (LON: KAPE) has received a 285p ($3.44) a share cash offer from Unikmind, which is 54.8% owned by Teddy Sagi. He says that he would seek to cancel the AIM quotation whatever happens with the offer. He is keen on a continuation of the buy and build strategy but does not want to back this strategy while Kape is quoted. He believes that Kape would be better placed to finance deals as part of his private investment portfolio. The Kape share price has moved up 12.5% to 292p. That is two-thirds of the share price last March.
PetroNeft Resources (LON: PTR) has lost some of last week’s gains following the announcement that chief executive Pavel Tetyakov is a potential buyer for its Russian oil and gas assets. The share price has slipped 28.6% to 0.75p. Any deal will require shareholder approval. There is no indication of how much could be raised from the disposal. Given current macroeconomic conditions the price PetroNeft can get for these assets could be disappointing.
Mkango Resources (LON: MKA) raised £3.5m at 12.5p and this will fund further development of the Songwe Hill rare earths project. The share price slumped by 22% to 12.875p. Talks with potential funders for the project continue. Mkango Resources will also provide a €2.5m loan facility in HyProMag, which is developing a rare earth recycling production facility in Baden-Wurttemberg. The company’s stake in HyProMag could increase to 66.8%.
Medical imaging company Polarean Imaging (LON: POLX) has $16m in cash and that should last until May 2024. More cash will be required to enable the company to meet its 24-month sales targets. That could come from a share issue or a strategic partner in a specific sector. The share price declined by 18% to 36.5p following concerns about the potential share issue.
Subsea cabling services provider Tekmar Group (LON: TGP) has granted an extension to the exclusivity given to the preferred partner, which is a global institutional investor that could provide funding, to the end of March. Due diligence has been completed. The share price fell 16.1% to 36.5p.
