Oil and gas explorer Rockhopper Exploration (LON: RKH) announced a £5.75m placing and subscription at 7p a unit (one share and of a warrant exercisable at 9p a share) after the market closed last night. This will provide working capital up until June 2023. There will also be an open offer at the same price that could raise a further £4.1m that will extend the life of the working capital. The Sea Lion project in the Falkland Islands is the main focus of Rockhopper. The share price fell 0.66p to 7.3p.
The Africa-based food producer Zambeef (LON: ZAM) share price rose 0.625p to 7.5p following its interim results and the announcement of a $100m investment strategy. Interim revenues increased from $102.5m to $148.1m, while pre-tax profit trebled to $10.4m. Zambeef plans to invest $100 million in operations over three to five years. This investment should double row cropping capacity at Zambeef Mpongwe Farm and improve production efficiency. However, the first $10m will be funded from cash flow but the debt funding for this investment has not yet been secured.
Property investor Wynnstay Properties (LON: WSP) is one of the companies that has been on AIM for the longest time, and it has a consistent track record. Good results and plans to gain shareholder agreement to buy back shares has added 75p to the share price taking it to 735p. NAV increased by 19% to 1090p a share. That means the shares are trading at a 33% discount to net assets. The total dividend was raised from 21p a share to 22.5p a share.
Identification services provider GB Group (LON: GBG) reported annual figures in line with expectations, but it is cautious about the outlook for this year. The share price has declined by 80.7p to 408.7p. Underlying pre-tax profit edged up from £56.7m to £57.1m. There are strong first half comparisons, but Peel Hunt has maintained its 2022-23 pre-tax profit forecast at £69.4m, but that means flat earnings of 20.3p a share. Numis has been appointed as nominated adviser and as joint broker with Barclays.
Disappointing trading statements from Boohoo (LON: BOO) and ASOS (LON: ASC) has hit other online-focused fashion retailers. Sosandar (LON: SOS) has fallen by 1.5p to 20.5p, while Quiz (LON: QUIZ) has slumped 1.365p to 10.385p.
The share price of subsea cable protection services provider Tekmar Group (LON: TGP) is falling for the fourth day in a row since it said it was seeking a strategic partner or buyer. It has fallen from 39p to 10.875p so far this week.
