Broadband services provider Bigblu Broadband (LON: BBB) admits that it is in discussions with alternative investment manager Salter Brothers on a possible sale of the SkyMesh subsidiary. The transaction is subject to final terms and financing. This would be the latest asset disposal for Bigblu Broadband. The share price jumped 67.8% to 42.8p.
Video streaming technology supplier Aferian (LON: AFRN) says second half revenues should be one-fifth higher than those of the first half. Combined with cost reductions, this should mean that second half adjusted EBITDA of $2m. Net debt is reducing. The share price recovered 58.3% to 4.75p.
This week there was good news from professional services firm DSW Capital (LON: DSW) with its trading statement following the acquisition earlier this week of DR Solicitors for £6.1m in cash and shares, which will reduce dependence on M&A. DR Solicitors has a client base of doctors, consultants and primary care providers. The latest annual pre-tax profit was £1.2m. The deal should be hugely earnings enhancing. Trading has been gradually improving in the first half. First half profit will be slightly lower at £100,000, but the full year pre-tax profit is expected to recover from £500,000 to £1.4m. A further jump to £2.5m is forecast for 2025-26. The interims will be published on 27 November. The share price rose 33.6% to 73.5p.
Corcel (LON: CRCL) non-exec Antoine Karam has resigned from the board of the Brazil-focused energy company. Extraction SRL, where Antoine Karam has a 45% shareholding, cut its stake from 18.9% to 4%. The share price improved 23.9% to 0.22p.
FALLERS
Hummingbird Resources (LON: HUM) has announced a debt restructuring and possible bid. Delays in ramping up production at Kouroussa have strained the balance sheet and $30m of debt repayments have been deferred. Net debt was $155m at the end of September 2024, while trade and other payables were $152m. Nioko Resources, which owns 41% of the gold miner, is proposing a partial debt-to-equity conversion at 2.6777p/share, which would take its stake to 71.8%, and potential bid and cancelation of the AIM quotation. Geoff Eyre has been appointed interim chief executive. The share price slumped 65.6% to 2.2p.
Feedback (LON: FDBK) raised £6.1m at 20p/share, which was a massive discount to the previous market price, and it slid 56.2% to 19.5p. This includes £530,000 raised via a WRAP retail offer of up to £1m. The cash will finance the rolling out of the Bleepa medical imaging communications product and take advantage of a collaboration with a provider of primary care IT services that will use Bleepa to streamline referrals between primary care, Community Diagnostic Centres and community care. The nominal value of shares will be reduced to 1p.
Content management technology provider Fadel Partners (LON: FADL) is not going to sign up a large potential client before the end of the year and there are other delays to projects. This means that the 2024 pre-tax loss will be more than $4m. Costs ar4e being reduced. Net cash should be $1.3m and management believes it has enough cash for its current requirements. New business likely in 2025 should help to reduce the loss. The share price dived 44.2% to 60p.
Empyrean Energy (LON: EME) has raised £1.12m at 0.1p/share and a retail offer could raise £250,000 more. Empyrean Energy is in discussions with Apnea to participate in the Wilson conventional oil project in Queensland. The company will have the right to earn a 40% working interest by paying $2.8m to cover two-thirds of the drilling costs of an exploration well. As part of the deal Apnea would receive 5% of the enlarged share capital of Empyrean Energy. The share price fell 42.9% to 0.12p.