Shares in Verditek (LON: VDTK) recovered 56.3% to 0.125p after it entered into a conditional sale agreement for its solar business for £528,340, which will be satisfied by the surrender of loan notes plus interest. Shareholder approval is required. Bob Holt and John Charlton are joining the board and the existing directors resigning. Both of them were involved in turning around Sureserve. There is £300,000 being raised at 0.075p/share and Bob Holt will loan the company up to £300,000, which is convertible at 0.075p/share. There are plans to raise a further £1.5m and change the name to EARNZ, which stands for Energy Advisory Regeneration Net Zero.
Supercapacitors manufacturer Cap-XX (LON: CPX) says outstanding orders are increasing and total $1.3m, including $800,000 to be shipped in the current financial year. Cap-XX decided not to appeal a patent judgement in the litigation with Maxwell/Tesla, which is claiming court-related costs. This should be a minor additional amount for Cap-XX, which is in negotiations to resolve all matters. The share price improved 31.3% to 0.525p.
Craven House Capital (LON: CRV) investee company BioVitos has reversed into Stockholm Stock Exchange listed Hemcheck Sweden. Craven House Capital owned 24.5% of BioVitos and is swapping this for shares in the listed entity. Craven House Capital has negative net assets and BioVitos is the only one of five pre-revenue investments that has a valuation – $1.14m. The share price rose by one-third to 20 cents.
Animalcare (LON: ANCR) is selling its majority shareholding in UK pet microchipping company Identicare for £24.9m. This should boost net cash to £27m, which can be invested in new opportunities. Identicare had net liabilities of £6.9m and pre-tax profit was £100,000. The share price rose 16.9% to 225p.
FALLERS
X-ray imaging technology developer Image Scan (LON: IGE) says trading has been slow in terms of sales and orders. At the end of January 2024, the order book was £611,000. There will be a first half loss. Results will be significantly second half weighted and there could be a full year profit. The share price slumped 21.4% to 1.1p.
Yesterday evening, Angus Energy (LON: ANGS) posted a circular to gain shareholder approval to issue shares relating to the new £20m loan facility provided by Trafigura. This will help finance restarting production at the Brockham field in southern England. Aleph Commodities will receive £750,000 in shares for assistance in securing the facility and £256,000 for providing a bridge facility. The recipients of revenues shares from three producing wells at the Saltfleetby field have agreed to payment in either cash or shares. The share price fell 13.3% to 0.325p.
Autonomous mining equipment developer Tribe Technology (LON: TRYB) has entered a joint development agreement with Veracio Australia, a world leader in core and chip sampling. The two companies develop a new system for blast hole chip sampling. The share price declined 7.41% to 6.25p to a new low. The September 2023 flotation price was 10p.
