Xeros Technology Group (LON: XSG) was the best performer this week with a 46.2% gain to 47.5p (46p/49p). Germany-based washing machine pumps and drives manufacturer Hanning has signed a ten-year global licence to manufacture and sell the XFilter washing machine filter technology developed by Xeros. XFilter enables microfibres and microplastics released during washing to be captured and safely disposed of. This type of technology will be required in France from 2025 and other countries are likely to follow suit. Hanning is estimated to supply components for 8.5 million washing machines each year – around one-third of those made in Europe. The royalty is undisclosed, but it could be around £1 per filter.
Healthcare IT provider EMIS (LON: EMIS) is recommending a 1925p a share cash bid from Optum UK, a subsidiary of UnitedHealth Group Ltd. This values EMIS at £1.24bn and the offer is around 32 times prospective 2022 earnings. The bid is more than one-quarter above the previous share price high last year and the share price rose 35.2% to 1890p. Optum UK already provides healthcare software and services to the NHS. The two management teams believe that the enlarged group will be better positioned to support the NHS.
Lexington Gold (LON: LEX) says that the drill results for Jones-Keystone side of the Jones-Keystone-Loflin project in North and South Carolina have exceeded expectations. There are multiple intersections with gold grades of between 1.37 g/t and 1.69 g/t. The shares rose 23.7% to 2.35p (2.2p/2.5p), which is still below the level it was at the start of the year.
Video games publisher Frontier Developments (LON: FDEV) says 2021-22 revenues are 26% higher at £114m. The share price rose 19.7% to 1374p on the week. New titles did particularly well. Jurassic World Evolution 2 sales were more than 1.3 million units, while Warhammer 40,000: Chaos Gate – Daemonhunters did better than expected. Older games also sold well. There will be a £7m write-down of capitalised development due to lower than expected sales of Elite Dangerous: Odyssey. Excluding that write down, operating profit should exceed £8m. There was £39m in the bank at the end of May 2022. New games launches should ensure further growth in revenues in 2022-23.
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Fallers
Subsea cable protection services provider Tekmar Group (LON: TGP) has lost more than three-quarters of its value on the week after it announced that it was seeking a partner or bidder to help it fund opportunities. Interim revenues fell from £13.9m to £13m and Tekmar remains loss making. The order book has improved from £9.7m to £20.1m over the six months to March 2022. Moneta Asset Management has cut its stake from 4.23% to 3.61%.
Shares in US-based video game publisher Devolver Digital Inc (LON: DEVO) more than halved to 62p. Fewer than eight months after joining AIM, Devolver Digital lowered its revenues and profit guidance for this year. Revenues are expected to between $130m and $140m. Zeus has cut its earnings forecast from 7.2 cents a share to 6 cents a share. Sales of new releases, such as Shadow Warrior 3 and Weird West, have been lower than anticipated.
Sensyne Health (LON: SENS) shares have declined 53.3% to 0.35p ahead of the cancellation of trading on AIM on 20 June. This was a requirement of the strategic financing for the business.
Hong Kong-based CCTV technology company UniVision Engineering Ltd (LON: UVEL) has received notice of the termination of a contract with MTR Corporation for the replacement of CCTV systems on Hong Kong railway lines. It is for alleged breach of contract, which UniVision contests. This is effective from 20 June. The shares price fell 52.4% to 0.25p (0.15p/0.35p).