Gunsynd (LON: GUN) is providing funding of £1m in Metals One in return for a 25% stake in Finnaust Mining Northern. This investment is dependent on Metals One joining AIM and the simultaneous acquisition of Finnaust and will be provided in four tranches over 18 months. Gunsynd has sold 440,000 shares in Charger Metals, raising £100,000. It retains 2.54 million shares. Gunsynd will also receive 1.5 million warrants in Metals One. The Gunsynd share price increased 18.2% to 0.325p.
Itsarm (LON: ITS) continues to rise after the dismissal of the winding-up petition and the share price improved 27.3% to 3.5p.
Litigation Capital Management (LON: LIT) says the UK court ruling for PACCAR Inc & Ors v Competition Appeal Tribunal & Ors will have little impact on its portfolio of cases. The decision will only impact litigation funding arrangements in terms of the funders interest being solely calculated as a percentage of the court award. The share price moved ahead by 13.3% to 85.9p.
Thor Energy (LON: THR) says magnetic data on the company’s uranium and vanadium projects shows an association of historical mine workings with structural trends. Uranium anomalies have been identified. Applications have been made for drill permits. The share price rose 11.9% to 0.235p.
CVS Group (LON: CVSG) is acquiring six vets practices in Australia and the total cost will be £16.8m. These will provide the base for entering the Australian market with more acquisitions in the coming months. Three vets practices have been acquired in the UK for £20m. CVS increased like-for-like revenues by 7.3% last year. The results will be announced on 21 September. The share price is 6.53% higher at 2006p.
Sports consultancy and data services 4Global (LON: 4GBL) more than doubled its underlying pre-tax profit from £573,000 to £1.23m. There was strong trading at the end of the year and that meant that there was a sharp increase in work done that has not been invoiced. That led to a cash outflow in the period. Strategic partnerships with gym software company Jonas Fitness Inc and digital health provider Technogym will help to diversify revenues. First quarter trading has been strong. The share price rose 5.5% to 57.5p.
FALLERS
Safestyle UK (LON: SFE) says interim trading is in line with forecasts, but the loss is much higher. Demand has been hit by increasing interest rates and that means that the second half will be poor. The windows supplier has been hit by a lower number of installations and a decline in the average number of frames for each installation. Costs savings have helped to offset the decline, but Zeus has downgraded its 2023 forecast from a pre-tax profit of £2m to a loss of £5.5m. The share price slumped by 46% to 9.75p.
Staffing firm Empresaria (LON: EMR) is not experiencing the improvements in performance that it was expecting this year. Singer has cut its 2023 pre-tax profit forecast by 29% to £5m and the earnings reduction is greater due to the minority interests in the fast-growth offshore services business. The share price fell 26.9% to 38p.
RBG Holdings (LON: RBGP) is writing off the value of £13.3m of its remaining litigation cases, including an unsuccessful case valued at £9.3m. Any return from the cases will be treated as revenues. The core business is taking longer to complete transactions. This has led to a reduction in the underlying 2023 pre-tax profit forecast to £5.9m and RBG has decided to reduce debt rather than paying dividends. The share price dived 27.7% to 18.25p.
Ex-dividends
Cake Box (LON: CBOX) is paying a final dividend of 5.5p a share and the share price fell 1.5p to 168.5p.
Celtic (LON: CCPA) is paying a dividend of 3.6p a share and the price declined 5.5p to 124p.
Calnex Solutions (LON: CLX) is paying a final dividend of 0.62p a share and the share price increased 4p to 119p.
Nexteq (LON: NXQ) is paying a final dividend of 3p a share and the share price fell 1.5p to 137.5p.
Sportech (LON: SPO) is paying a special dividend of 35p a share and the share price declined by 27.5p to 147.5p.
