Lift Global Ventures (LON: LFT) investee company Trans-Africa Energy has received funding of £12m from an African investor. The first energy infrastructure investment is in Ghana. The share price doubled to 0.8p.
Incanthera (LON: INC) has published an update on its distribution deal with Marionnaud. The first order for Skin + CELL products will generate revenues of £2m with 50,000 bottles of skin cream to be supplied for sale in Austria and Switzerland. A second order will be even bigger. The management projects revenues of £10m for the year to March 2025 and this would make it profitable. The range is being increased to five products and they are all part of the initial launch. Revenues could grow to £33m the following year. There is potential for licence deals in other countries. The Incanthera share price has jumped 53.8% to 15p, having been as high as 17p,
Watchstone Group (LON: WTG) says a subsidiary’s VAT appeal was dismissed even though it satisfied four out of five elements. A decision will be made on whether to appeal the judgement. The share price soared 30.8% to 8.5p.
Asia Wealth Group Holdings (LON: AWLP) nearly halved its interim loss even though revenues fell from $844,000 to $523,000. There is $1m in the bank. The share price is 30% ahead at 32.5p.
TruSpine Technologies (LON: TSP) intends to issue a conversion notice to loan note holders. The conversion price is a 130% premium to the share price prior to the convertible loan note approval by the directors. A £200,000 debenture has been used to subscribe for convertible loan notes. Geoffrey Miller has increased his stake from 6.88% to 7.24%. The share price increased 18.8% to 0.95p.
Quantum Exponential Group (LON: QBIT) has announced a further adjournment of its a general meeting to gain shareholder approval for leaving Aquis. Investors have approached the quantum technology investment company and offered to make a substantial investment. The share price recovered 16.7% to 0.7p.
Cadence Minerals (LON: KDNC) investee company European Metals Holdings (LON: EMH) says that the Cinovec project in the Czech Republic is in the process of completing a definitive feasibility study, but it will not be completed in the first quarter. There is potential to improve the lithium processing. Cadence Minerals has increased its stake in the Amapa iron ore project in Brazil to 34%. A study should reduce costs and improve productivity of the proposed mine. The Cadence Minerals share price improved 4.76% to 5.5p.
KR1 (LON: KR1) had net assets of 134.6p/share at the end of February 2024. There was income generated of £1.63m. The share price edged up 3.43% to 90.5p.
Arbuthnot Banking Group (LON: ARBB) increased its pre-tax profit from £20m to £47.1m and the total dividend was raised from 42p/share to 46p/share. Bad debts were lower than forecast. NAV is 1547p/share. The profit is likely to fall this year. The share price is 0.5% higher at 1075p.
FALLERS
Global Connectivity (LON: GCON) is amending the terms of warrants issued when it floated and extending them by two years to 20 April 2026. The exercise price is being reduced to 1.5p. Management is exploring potential investments. The share price slumped by two-fifths to 0.375p.
Flex Labs Inc (LON: FLEX) is still developing its AI app technology and there were no revenues in 2023. The share price divided 21.7% to 4.5p.
Marula Mining (LON: MARU) has commenced exploration at the Larisoro manganese mine in Kenya. The share price declined 16.3% to 10.25p.
Valereum (LON: VLRM) has raised £300,000 at 6p/share from its chairman and is planning a larger fundraising in the third quarter of 2024. The share price slipped 14.8% to 5.75p.
Jenny Hanlon has been appointed as chief executive of brewer Adnams (LON: ADB). She is currently finance director. The share price fell 8.16% to £22.
Tap Global Group (LON: TAP) generated trading payment volumes of £181.6m in 2023. That generated revenues of £2.02m, but the loss was still £1.07m. The share price is 6.9% lower at 1.35p.
EPE Special Opportunities (LON: EO.P) had net assets of 324p/share at the end of January 2024. There was £15.3m in cash offset by £4m in loan notes repayable on 23 July. The share price declined 6.25% to 150p.
Gunsynd (LON: GUN) shares are 3.03% lower at 0.16p, following news that investee company Aberdeen Minerals is raising £3m at 8.5p/share from Central Asia Metals with a further £2m that could be raised from the exercise of warrants at 11p/share. This deal requires regulatory approval.