Shares in Cambria Africa (LON: CMB) jumped 77.8% to 0.4p when trading recommenced after 2022-23 accounts and subsequent interims were published. Early buying has flushed out some sellers later in the morning. The shares will be suspended again on Monday because there will be no nominated advisers. Shareholders have voted to cancel the AIM admission on 22 October.
Adrian Stiff has taken a 3.3% stake in investment company Gunsynd (LON: GUN). The share price rose 16.7% to 0.14p.
SkinBioTherapeutics (LON: SBTX) is acquiring Bio-Tech Solutions for £1.25m. Bio-Tech is a manufacturer of personal care products. This will enable the group to manufacture its own products. The acquired business should generate £3m in 2024-25, up from £2.1m, and EBITDA could be £900,000. SkinBioTherapeutics should have enough cash to last until the summer of 2026. The share price increased 8.89% to 12.25p.
Smart sensing software developer Oxford Metrics (LON: OMG) is acquiring The Sempre Group, a measurement technology business for up to £5.5m. Gloucester-based Sempre helps clients to improve productivity and efficiency through high precision metrology. This fits with the previous acquisition of Industrial Vision Systems, which will help geographic expansion, and provides further diversification from the entertainment and health sectors. In 2023, Sempre made a pre-tax profit of £700,000 on revenues of £6.5m and the performance is improving this year. The deal should be earnings enhancing. Following the post-trading statement slump in the share price, OMG is spending up to £6m on share buy backs. This will not make much of a dent in the cash pile, which was £50m. The share price is 5.26% higher at 60p.
FALLERS
Verici Dx (LON: VRCI) says local coverage determination for post kidney transplant test Tutivia is expected to be delayed until 2025. That will slow the initial commercial revenues and push them out by six months. Singer has downgraded 2024 forecast revenues from $7.5m to $4m and 2025 revenues from $13m to $11.6m. The 2024 loss is expected to be $6.1m, moving to $700,000 next year. Net cash could be down to $600,000. The share price declined 11.5% to 5.75p.
Sareum Holdings (LON: SAR) is raising £2.36m at 20p/share. The cash will be used to fund development of SDC-1801, a dual inhibitor of JAK family kinases TYK2 and JAK1, and toxicology studies to support phase 2 trials. This should help to find an out-licensing partner. The share price slipped 5.45% to 26p.
Gerry Sweeney is stepping down as finance director of retail company Quiz (LON: QUIZ) in March 2025. The recruitment process for a replacement has commenced. The share price is 5.2% lower at 4.74p.
Data analytics software provider Rosslyn Data Technologies (LON: RDT) has raised £250,000 at 5p/share via the retail offer. That was the maximum amount. A placing raised £1.64m at 5p/share and a convertible loan note will raise a further £1.2m – existing convertibles will be converted at 5p/share. This will fund growth and the development of technology. The share price fell a further 4.3% to 6.125p.