Revolution Beauty (LON: REVB) shares have returned to trading following yesterday’s AGM were three directors failed to be re-elected, but they were reappointed ahead of the general meeting requisitioned by 27% shareholder boohoo (LON: BOO). Two new non-execs were also appointed. The share trading was suspended on 1 September because of the inability to publish accounts and concerns about the previous reporting. The new management team has made progress in turning around the cosmetics business, but boohoo wants to replace them and is unhappy with the reappointment. The latest accounts have to be published by the end of August or trading will be suspended again. The share price returned at 56.05p, up 56.1%. That is the highest share price since last July.
Corporate finance provider Marechale Capital (LON: MAC) has raised £235,800 through a subscription by Chris Kenning at 2.25p/share – the share price has not been this high since last December. The news pushed up the share price by one-fifth to 1.8p. The cash will fund further investments. Marechale Capital raised £208,000 at 3p/share in March 2022.
Yesterday, Echo Energy (LON: ECHO) has completed the sale of a 65% working interest in Santa Cruz Sur for £1.7m to Selva Maria Oil and Interoil Exploration & Production. It retains a 5% working interest. The share price recovered 14.3% to 0.04p.
Forestry company Woodbois (LON: WBI) has raised £6m at 0.5p/share from two Monaco-based British investors to replace the $6m working capital facility withdrawn in April. There is also a £1.75m debt for equity swap. This should reduce debt by two-thirds to $5m. The share price is 14.2% ahead at 0.685p.
B2B video streaming technology developer Aferian (LON: AFRN) has increased annual recurring revenues to $19m, but group interim revenues have slumped from $44.5m to $23.1m. Costs have been reduced. Net debt was $13m at the end of May 2023. Contracted revenues already make up 90% of the full year forecast. The share price slumped 14% to 12.25p. This is an all-time low.
Bradda Head Lithium (LON: BHL) says that its 2022-23 accounts will be delayed because Head Lithium is likely to fall foul of the TSX Venture Exchange publication rules. It is still likely to be able to publish the accounts by the end of August as required by AIM. The share price decreased 15.8% to 4p.
Various Eateries (LON: VARE) increased interim revenues by 16% with slightly higher like-for-like revenues. The restaurants operator has been hit by cost inflation and gross margins have slumped. New store openings will be reduced. The pre-tax loss increased from £2.57m to £4.3m. WH Ireland has raised its full year loss forecast from £2.1m to £5.5m. The share price fell 15% to 34p.
Bluejay Mining (LON: JAY) has raised £1.3m at 1.75p/share. This cash will be invested in the Hammaslahti copper zinc silver gold project in Finland following positive drilling results. A maiden mineral resource estimate is planned, and this project could generate income in a relatively short time frame. Unexpected weather conditions mean that the maiden drilling programme at Kangerluarsuk project has been cancelled. The share price slipped 14.4% to 1.8025p.