Footwear retailer Unbound Group (LON: UBG) has received a 10.5p a share potential offer from WoolOvers Group. There would also be a contingent value right that would give shareholders the proceeds of any insurance claim related to business interruptions due to Covid lockdowns. Unbound management says it would be likely to accept this offer. The share price has jumped 106.3% to 8.25p.
Verditek (LON: VDTK) has received a €167,500 order from Roof Tile Group, which will incorporate the Verditek lightweight solar panel in its metal roof tiles. The share price is continuing its recent recovery and is 48.6% ahead at 1.3p – a new high for 2023.
Mosman Oil & Gas (LON: MSMN) is reviewing its corporate structure and the best way to commercialise the Cinnabar-1 well. There is also potential for the Australian interests, particularly for helium. This may involve spinning off one of the Australian assets as a separately quoted company. The share price rose 18.2% to 0.065p.
Promotional products technology platform developer Altitude Group (LON: ALT) has won multiple contracts that will have a significant impact on revenues. Zeus has upgraded forecast 2022-23 pre-tax profit from £800,000 to £900,000 and next year’s forecast from £1.1m to £1.3m. The share price increased 14.6% to 47p. That is the highest the share price has been for nearly two years.
Shares in SkinBioTherapeutics (LON: SBTX) slumped 13.3% to 12.75p after it reported a modest increase in revenues and a higher loss. Psoriasis treatment AxisBiotix-Ps generated all the revenues of £77,000. Marketing spending has been limited and the company will seek a multinational partner. Progress is being made with the cosmetic ingredient partnership with Croda. There was £766,000 in cash at the end of 2022, prior to the recent £2.6m fundraising. Net cash is expected to be back down to £1.1m by June 2023.
Scottish gold producer Scotgold Resources (LON: SGZ) is continuing its share price decline – down 10.1% to 12.5p. Falling ore grades at the Cononish gold mine mean that Shore has its forecasts under review because of concerns about the financial position of the company.
Chief executive Debbie Bestwick says that she will step down as chief executive of video games developer Team17 (LON: TM17) when a replacement is found. The share price fell 8.22% to 407.5p. Team17 reported a 52% jump in 2022 revenues to £137.4m and a 35% increase in adjusted pre-tax profit to £47.1m, which excludes £9.2m of one-off acquisition related costs. Own IP represents 41% of revenues, up from 22% in 2021.
