Real Good Food (LON: RGD) has secured additional financing of £2.5m from Hilco Private Capital. This lasts for 12 months and is in addition to the £6.3m from the Leumi ABL. This will help to fund restructuring and cost reduction. The share price recovered 42.9% to 1.5p.
Catalyst Media Group (LON: CMX) investee company Sports Information Services reported a pre-tax profit of £7m in 2021-22. Catalyst Media owns 20.5% and it will soon receive its share of a SIS dividend totalling £4.4m. SIS has £58m in the bank. Oakvale Capital is reviewing strategic options for SIS. Catalyst Media shares rose 17.2% to 116p.
Engage XR (LON: EXR) has signed a reseller agreement with Lenovo for the ENGAGE platform. Lenovo can sell the platform to help sales of its ThinkReality VRX headset and this will help Engage XR to win new clients. The deal includes ENGAGE Link, which was launched on 7 November and provides the capability to create virtual worlds. The share price more than recovered Friday’s loss and is 14.9% higher at 13.5p.
The Reabold Resources (LON: RBD) share price has recovered by 14.3% to 0.28p following the defeat of the resolutions at the requisitioned general meeting on Friday. Three-quarters of the votes were against each resolution.
Emmerson (LON: EML) has signed memoranda of understanding for the offtake of potash and salt from the Khemisset mine in Morocco. Keytrade AG will take a minimum of 245,000 metric tonnes each year for a decade. Hexagon Group AG will also take a minimum of 245,000 metric tonnes plus 500,000 metric tonnes of salt each year. The share price improved by 8.6% to 5.05p.
Tissue products manufacturer Accrol (LON: ACRL) increased interim revenues by 64% to £121.1m through a combination of higher prices and volume growth. Net debt was £30.5m at the end of October 2022 and it could fall to £24.4m by April 2023. A full year pre-tax profit of £6.7m is forecast. The share price increased by 6% to 27.2p.
Molecular diagnostics company Genedrive (LON: GDR) generated revenues of £49,000 in the year to June 2022 and the cash burn averages £400,000 each month. Net cash was £3m at the end of October. Genedrive is seeking additional funding to enable it to grow revenues. The share price fell 17.7% to 10.5p.
Ncondezi Energy Ltd (LON: NCCL) has raised £520,000 at 0.65p a share, which comes with a warrant exercisable at 1.3p. The share price declined by 10.8% to 0.825p. Updated valuations for the solar project in Mozambique vary from $23m for 100MW to $75m for 300MW. Tower Resources (LON: TRP) says that its $7m loan from a Cameroon bank has been approved by the credit committee but further approval is required before it is received. This will cover two-fifths of the $18m cost of the well at the Thali Production Sharing Contract. That still leaves 35% of the cost to be funded. The share price fell 7.32% to 0.19p.
