Healthcare services provider Totally (LON: TLY) reassured the market with its latest trading statement. Full year EBITDA was £2.3m, down from £6.9m, and net debt was £800,000 at the end of March 2024. Revenues fell 22% to £106m because of the loss of a contract. Cost reductions and efficiency improvements have offset the tough market. Annualised cost savings of £3.5m are expected. The share price recovered 19.1% to 6.25p.
Peter Lobbenberg and family have increased their stake in Pipehawk (LON: PIP) from 8.37% to 9.06%. This appears to be the first share purchase since 2015. The share price improved 15.4% to 7.5p.
Third quarter driver management systems units produced by Seeing Machines (LON: SEE) have gone into 313,662 vehicles, which is 51% higher than the previous quarter. This is more than treble the number in the same period two years and 80% higher than one year previously with more contracts set to contribute. Monitored connections of the Guardian fleet units were 5% higher on the quarter at 59,706. The share price increased 13.4% to 5.39p.
Dr Graham Cooley has increased his stake in supercapacitors developer Cap-XX (LON: CPX) from 8.25% to 10.3%. The company says that trading is strong, and billings are 56% higher than in the same period last year. The current book to bill ratio is 1:2. The share price recovered 12.2% to 0.0875p.
FALLERS
Bushveld Minerals (LON: BMN) has agreed the conditional disposal of Vanchem to Southern Point Resources Fund 1 for up to $40.6m. The initial consideration is $20.6m. This requires shareholder approval. Southern Point Resources is increasing the interim working capital facility it is providing that is secured on production at Vanchem. This, and a $9m working capital facility, will be offset against the initial consideration and be used to pay creditors. This will leave a cash payment to Bushveld Minerals of $3.5m when the disposal happens. The deferred consideration is based on 25% of distributable free cash flow with a minimum of $1.25m paid for each quarter of the three year period. The share price slumped 10.7% to 0.625p.
Baron Oil (LON: BOIL) was unsuccessful in its licence bid in the UK offshore 33rd round of licensing. Baron Oil has no UK assets and is focusing on South East Asia. The share price slipped 8.96% to 0.065p.
Digital advertising services provider Electric Guitar (LON: ELEG) shares continue to fall on the second day of trading after the move from the standard list. There was a fundraising at 2.1p/share when 3radical was acquired. The share price has declined 8.33% to 1.65p.
ECR Minerals (LON: ECR) says drilling at Creswick has found upgraded gold grades. Bailieston has positive results from stream sampling and cores are being reanalysed for antimony. The share price fell 3.77% to 0.255p.
