Shore Capital holds 12.8% of UK Oil and Gas (LON: UKOG) and this follows the repayment of the convertible loan facility provided by RiverFort Global Opportunities and YA II PN. The share price jumped 69.4% to 0.0305p.
Fully listed Thalassa Holdings (LON: THAL) has taken a 9.94% stake in Surgical Innovations (LON: SUN) and the share price recovered 23.1% to 0.8p, which values the surgical instruments manufacturer at £7.5m. Earlier this year, Thalassa chairman Duncan Soukup made initial restitution payments due to a loss on an investment in Tappit Technologies and he will pay up to £1.5m more. This means that Thalassa has cash to invest. Thalassa had a book value of 116p/share at the end of 2023 and the share price is 26.5p.
Pathfinder Minerals has returned from suspension as Rome Resources (LON: RMR) following the acquisition of the Democratic Republic of Congo-focused tin project explorer and developer of the same name and the raising of £4m at 0.3p/share. The share price improved 18.2% to 0.325p.
Following the disposal of its energy management business, eEnergy (LON: EAAS) can concentrate on its energy services business with enough funding to take advantage of growth opportunities. Full year revenues are expected to be £25m-£26m. There will be some exceptional charges following the disposal and there could be an underlying loss this year before a rebound to a pre-tax profit of £2.2m next year. The share price increased 4.87% to 5.6p.
FALLERS
A change in marketing strategy for its business to consumer business has not helped gambling firm Webis (LON: WEB) as much as it hoped. Bad weather caused cancelations of race meetings in the US. This means that the second half loss will be similar to the interim figure of $541,000. The share price dived 42.9% to 0.8p, which is the lowest it has been since March 2020.
Brighton Pier (LON: PIER) has also been hampered by poor weather. There was a 29% decline in footfall on Brighton Pier itself so this year’s revenues will be lower than expected. The other three leisure businesses are trading in line with expectations. Cavendish expects a 2024 loss after tax of £700,000. The share price declined 13.9% to 34p.
Echo Energy (LON: ECHO) has received a conversion notice for £40,000 of the conditional convertible loan note. The conversion price was calculated at 0.00288p and around 6% of the enlarged share capital was issued. The share price has fallen 5.71% to 0.0033p.
Power Metal Resources (LON: POW) says that the due diligence period for the uranium joint venture with ACAM has been extended until the 23 August because certain legal processes are outstanding. The share price slipped 2.78% to 17.5p.