Zinnwald Lithium (LON: ZNWD) is the highest riser today after its successful share issue at a premium to the previous market price. A total of £18.75m was raised at 10.41p a share and the price has risen by 24.4% to 10.25p. German critical metals company Advanced Metallurgical Group (Euronext: AMG) subscribed for a 25.1% stake, while a Primary Bid offer enabled other investors to participate at the same price. The cash will fund the definitive feasibility study of the Zinnwald lithium project in Saxony, which can supply battery markets. It is currently estimated to have a NPV8 of $1.6bn and a payback period of 3.3 years. The output could reach 17,000t/year LiOH. AMG has Europe’s first lithium hydroxide refinery at Bitterfield-Wolfen. Tamesis Partners has a target share price of 40p.
Full year results from product life cycle software Sopheon (LON: SPE) were in line with the January trading statement with new companies signing up for a SaaS contracts. Recurring revenues were 61% of the total. The share price is 14.8% higher at 660p.
Eco Animal Health (LON: EAH) had a strong fourth quarter and demand for pig treatment Aivlosin was lightly higher than expected in China. This means that full year results will be marginally better than expected. A pre-tax profit of £3.81m was forecast. The share price rose 11.7% to 109.5p.
SRT Marine Systems (LON: SRT) has won a £145m project to provide marine detection systems to a foreign coast guard customer. The UK government is providing a loan to finance the contract and once that is agreed the contract will start. The validated sales pipeline is worth £535m. However, this year’s systems revenues will be lower than expected with projects delayed until the next financial year. Forecast revenues for the year to March 2023 have been slashed from £56.6m to £30m and there will be a loss. Even so, the share price improved by 11.8% to 42.5p.
Cyber security company Osirium Technologies (LON: OSI) reported a slightly higher loss of £3.59m in 2022 and cash levels are declining. Since then, £1mm of annualised savings have been secured. The switch of focus to partners should accelerate customer acquisition. The share price slumped 17.3% to 2.15p, which is just above the all-time low.
Safestyle UK (LON: SFE) reported 2022 results showing a £4.4m underlying loss. The replacement windows company could return to profit this year, but there are still underlying economic concerns, high interest rates and pressure on consumer spending. This year’s pre-tax profit forecast has been cut from £3.6m to £2m. The share price has fallen 15.3% to 24.55p.
An independent report has been commission to look into related party issues at Inland Homes (LON: INL). The shares will be suspended on 3 April until the accounts are published. A £5m fundraising at 10p a share is being considered. Matthew Robinson and Trevor Sawyer have been appointed as non-execs. The shares are down by 13.8% to 6.25p.
Ex-dividends
Craneware (LON: CRW) is paying a dividend of 12.5p a share and the share price is 40p lower at 1260p.
Finsbury Food (LON: FIF) is paying an interim dividend of 0.87p a share and the share price is unchanged at 94p.
Fonix Mobile (LON: FNX) is paying an interim dividend of 2.36p a share and the share price is down 4p to 198.5p.
Hargreaves Services (LON: HSP) is paying an interim dividend of 3p a share and the share price fell 2p to 399.5p.
i3 Energy (LON: I3E) is paying a dividend of 0.17p a share and the share price is 0.18p lower at 17.1p.
MTI Wireless Edge (LON: MWE) is paying a final dividend of 3 cents a share and the share price fell 3p to 51p.
Nichols (LON: NICL) is paying a final dividend of 15.3p a share and the share price is down by 12.5p to 1047.5p.
FW Thorpe (LON: TFW) is paying an interim dividend of 1.62p a share and the share price reduced by 8p to 354p.
