AIM movers: Allergy Therapeutics accounts delayed and ex-dividends

Andrew Hore
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2
AIM movers: Allergy Therapeutics accounts delayed and ex-dividends

Allergy Therapeutics (LON: AGY) says that its accounts will not be published by the end of 2022, so trading in the shares will be suspended on 3 January. The audit has been delayed, but there is no indication of any material problem. Management is still assessing funding options. The share price slumped 56% to 5p.

Annual results for Kazera Global (LON: KZG) will not be published until February, so trading in the shares will also be suspended on 3 January. Revenues were £107,000 and the loss was £1.125m. There was cash of £637,000 at the end of June 2022. The current cash position is £600,000. The share price dived by 19.1% to 0.85p.

Pathfinder Minerals (LON: PFP) has extended and increased a loan facility from £120,000 to £160,000. The facility lasts until the end of March 2023. The share price slipped by 9.52% to 0.475p.  

Myanmar Investments (LON: MIL) had a NAV of 28 cents a share at the end of September 2022. Concerns remain about the stability of Myanmar. The share price fell 6.25% to 7.5 cents a share.

Shares in Applied Graphene Materials (LON: AGM) have recovered a further 34.3% to 7.25p on the back of yesterday’s announcement that the company has received indicative proposals from interested parties for the sale of the business as part of the strategic review. Management hopes that there will be final proposals in early January, but there is no guarantee of a satisfactory deal.

NetScientific (LON: NSCI) investee company PDS Biotech (NASDAQ: PDSB) announced median overall survival of 21 months in a phase II study for a PDS0101-based triple combination therapy for advanced HPV+ cancer patients. This is better than current treatments. The PDS stake is worth more than £15m. The share price rose 14.9% to 77p, which values the investment and consultancy company at £18.1m.

Biotech company Sareum (LON: SAR) non-exec Dr Stephen Parker has bought 19,972 shares at 77.6p a share. The share price rose 10.7% to 77.5p.

There has been further director buying of genomic medicine company Yourgene Health (LON: YGEN) shares. Finance director Barry Hextall bought 3.4 million shares at 0.344p each. Chief operating officer Haydyn Jeffreys acquired 3.14 million shares at 0.366p each. The recent placing price was 0.3p a share. The share price is 6.67% higher at 0.4p.

Tekcapital (LON: TEK) investee company Innovative Eyewear has signed a global licensing agreement for the outdoor brand Eddie Bauer for smart eyewear.  The share price improved by 5.56% to 19p.

Ex-dividends

AB Dynamics (LON ABDP) is paying a final dividend of 3.54p a share and the share price fell 20p to 1590p.

Cerillion (LON: CER) is paying a final dividend of 6.5p a share and the share price is unchanged at 1200p.

Jet2 (LON: JET2) is paying an interim dividend of 3p a share and the share price declined by 20.4p to 965.6p.

James Latham (LON: LTHM) is paying an interim dividend of 7.25p a share and the share price is unchanged at 1250p.

Oxford Metrics (LON: OMG) is paying a final dividend of 2.5p a share and the share price slipped by 3p to 107.5p.

Real Estate Investors (LON: RLE) is paying a dividend of 0.44p a share and the share price is down by 0.75p to 28.75p.

New Year prospects: Tribal Group

Andrew Hore
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5
New Year prospects: Tribal Group

Education software and services provider Tribal Group (LON: TRB) is still being held back by a problem contract and the share price has fallen by 55.2% to 45.4p during 2022.
The Nanyang Technology University contract costs have increased, and recognised revenues are lower than expected. The Singapore-based university implementation is much larger and broader than standard contracts.
The core business is student information systems (SIS), which provide higher and further education establishments with the ability to manage and engage with students. This software generates revenues from licence f...

LBG Media – shares up as co-founder adds further to his stake

Mark Watson-Mitchell
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3
LBG Media – shares up as co-founder adds further to his stake

How many times have we seen or heard the expression – ‘According to the LADBible’ – well now investors can take advantage of the connection.

What was spun out of an idea for a social media publishing business dreamt up by students at Leeds University in 2012, has now become the world’s all-time most viewed and engaged publisher on Facebook and is also the biggest publisher on TikTok.

What is a LAD?

To this group a LAD is an everyday hero who takes a positive and constructive role in their community.

It looks to champion a variety of people, from both celebrities and its audience, and bring them all onto the same stage.

Impressive 39% CAGR

Over the last four years the revenue of LBG Media (LON:LBG) has grown at a compound annual growth rate of 39%.

The group describes itself at the largest youth publisher in the world –

“Over recent years, we have delivered significant multi-platform audience growth, establishing ourselves as the largest youth publisher in the world. 

Our reach spans 64% of the UK’s 18 to 34 year-olds, a valuable demographic for advertisers which has been historically hard to reach. 

Our data insight and position as a trusted voice for our highly engaged audience make us attractive for brands seeking to advertise to our audience.”

The group produces and distributes digital content across a range of mediums including video, editorial, image, audio, and experience (virtual and augmented reality) and now has a diverse collection of ten core specialist brands using social media platforms primarily on Facebook, Instagram, Snapchat, Twitter, YouTube and TikTok.

Analyst Estimates

The year to the end of this month is estimated, by analyst Rachel Birkett at Zeus Capital, to have seen revenues of £63.0m, upon which it could have made adjusted pre-tax profits of £13.5m, generating 5.3p of earnings per share.

The UK-based multi-brand, multi-channel digital youth publishing group in the year about to start is likely to push revenues to £69.4m, pumping profits up to £17.2m, worth 6.4p per share in earnings.

For the year to end December 2024 estimates are for £76.4m of revenues, £18.9m profits and 7.0p earnings.

This ‘asset light’ business is both scalable and very cash generative.

An example of just how cash generative this group can be is illustrated by the estimates for the current year end net cash balance to be around £31.0m, for end-2023 a figure of £52.8m is suggested, while the 2024 total could be £68.1m – which compares with the group’s current £251m market capitalisation.

Brokers Liberum Capital will be holding a Tech & Media Conference on 17 January at which LBG Media will be one of the seven companies on show.

Shareholders

Taking a quick look at the major shareholders, those already into the equity include abrdn (6.88%), Canaccord Genuity (4.22%), and Slater Investments (3.83%). Mahmud Kamani, controlling shareholder of Makkma Investments holds 20.21%.

Solly Solomou, the group’s co-founder and CEO, has been adding still further to his holding, with a purchase announced on 23 December of another 50,000 shares @ 100p each to take his holding up to 86.68m shares, representing 41.99% of the group’s equity.

In rapid market reaction to that news the group’s shares shot up nearly 14% to close at 121.5p, up 14.5p on the day. 

Conclusion – keep a watching brief

Without doubt there is the promise of a major uplift in this group’s share price, but after the recent sudden rise, it could be wise to just watch how it performs and be ready to jump in on any inevitable fallback on profit-taking.

New Year prospects: Cake Box

Andrew Hore
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9
New Year prospects: Cake Box

Egg-free cakes supplier Cake Box (LON: CBOX) performed strongly up until late 2021, but it has been on a downward trend since the beginning of 2022. The share price has slipped by 67.9% to 115p during 2022.
Wembley-based Cake Box joined AIM in June 2018 at 108p a share, so the share price is still at a small premium to that. The peak share price was nearly treble the initial placing price. There was an initial share price decline in November 2021 when the founder and chief executive Sukh Chamdal sold three million shares (7.5% of the share capital) at 350p each.
The real decline started when C...

AIM movers: Polarean Imaging gains FDA approval

Andrew Hore
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3
AIM movers: Polarean Imaging gains FDA approval

Diagnostic imaging company Polarean Imaging (LON: POLX) has gained FDA approval for Xenoview, the Xenon129 hyperpolarised drug-device combination. This is the only product of its kind that has FDA approval. It provides enhanced visualisation of lung ventilation. Pricing still has to be secured. Revenues will take time to build up and the sales expertise will have to be put in place. Net cash is expected to be £2.9m at the end of 2023. Stifel Nicolaus has increased its target price from 100p to 130p. The share price rose 18% to 59p. Polarean Imaging joined AIM in March 2018 at 15p a share.

Applied Graphene Materials (LON: AGM) has received indicative proposals from interested parties for the sale of the business as part of the strategic review. Management hopes that there will be final proposals in early January. A preferred party will then be chosen. There is no guarantee that any satisfactory proposal will be tabled. Redundancy consultations continue for the time being. The hare price recovered by one-fifth to 5.4p.

Peru-focused oil producer PetroTal Corp (LON: PTAL) has successfully tested well 12H in the Bretana oil field. Current production has increased to 3,650 barrels of oil/day and it could reach an even higher level. Other wells will be drilled. Total current production is 20,000 barrels of oil/day. Barges are arriving for the oil now that the river blockade has ended. The share price is 4.62% higher at 40.8p.

City of London Group (LON: CIN) and Gfinity (LON: GFIN) share prices continue to fall. City of London Group shares are down 15% to 25.5p. A cash injection to Recognise Bank provides a valuation of the stake of 30p/ City of London Group share for the proposed distribution of shares in the new bank. The Gfinity share price has declined a further 14.8% to 0.49p following last week’s results and the rate of cash outflow from the egaming business. There was a £2.57m cash outflow from operating activities with £2.14m left in the bank at the end of June 2022. Potential deferred consideration is payable based on 30% of revenues generated by recent acquisitions over specific periods.

Trafalgar Property Group (LON: TRAF) reported a slump in revenues from £390,000 to £18,000 in the six months to September 2022. The loss increased from £444,000 to £338,000. There was cash of £49,000 on 19 December. A development site was acquired in Speldhurst and Retirement+ has been granted planning permission in Leatherhead. An offer has been agreed on Orchard House for £1.05m, but the buyer has to sell their existing property. There is another investment property valued at £325,000. The share price is 8.57% lower at 0.16p.

Argo Blockchain secures future

Andrew Hore
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3
Argo Blockchain secures future

Argo Blockchain (LON: ARB) has secured a deal that will reduce the crypto currency miner’s debt by £34m and enable it to continue in business. The shares bounced back from suspension and are two-thirds higher at 6.25p, having been around 8.7p early in the day.

Galaxy Digital Holdings (TSX: GLXY) is acquiring Argo Blockchain’s Helios facility in Texas for £54m and Galaxy will provide a £29m loan to replace current debt. Argo Blockchain will still operate the bitcoin mining machines in the Helios facility.

The two-year hosting agreement includes the provision of electricity by Galaxy via a fixed price purchasing agreement that it will sign. There will also be a hosting fee.

The focus will be growing the two datacentres in Quebec, which are powered by hydroelectricity. These are still owned by Argo Blockchain.

The new loan will be secured on 23,619 Bitmain S191 Pro mining machines at Helios, plus some of the mining machines in Quebec. The initial term is 36 months. The disposal funds and loan will be used to pay £70m of debt and interest, plus other creditors.

Third quarter figures have been delayed, but because these are not required on the Main Market in London Nasdaq trading will also recommence. The company has been warned that the price for the ADSs is required to be above $1 for a minimum of ten consecutive days by 12 June 2023 or the Nasdaq listing will be cancelled.

Innovative Eyewear: a year of progress at the Tekcapital portfolio company

UK Investor Magazine
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4
Innovative Eyewear: a year of progress at the Tekcapital portfolio company

Innovative Eyewear, a Tekcapital portfolio company has released a review of their strategic and commercial progress in 2022 – a year which saw the company list on the NASDAQ and raise approximately $7.35 million.

Innovative Eyewear is the operator of Lucyd® and Nautica® smart eyewear brands.

The company has recorded significant milestones this year including the signing of a global license with the Nautical lifestyle brand, listings on Dick’s Sporting Goods website and securing a retail presence in over 250 outlets.

A number of key hires were also achieved to help accelerate growth. Innovative Eyewear bolstered their sales and marketing department with extensive experience gained in major eyewear and retail companies.

Tekcapital shares were 1% higher at 17.8p at the time of writing.

New Year prospects: Dianomi

Andrew Hore
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7
New Year prospects: Dianomi

The digital advertising market is growing, but the progress in 2022 was slower than previously expected. Investors had anticipated rapid growth from companies in this area, but they have been disappointed.
Targeted digital advertising services provider Dianomi (LON: DNM) says revenues will be flat in 2022 and EBITDA will halve to around £1.6m. Advertisers are not spending as much as forecast, although the US digital advertising market is growing.
Having joined AIM in May 2021, Dianomi raised £5m at 273p a share and soon after that the share price reached 495p. Since then, the share price has b...

New Year prospects: Actual Experience

Andrew Hore
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1
New Year prospects: Actual Experience

Digital workplace management platform developer Actual Experience (LON: ACT) is one of the worst performing AIM companies in 2022. The share price has fallen by 94.1% to 1.5p (1.4p/1.6p), making it the ninth worst performer – although some companies that have gone bust are not included.  
The technology came out of Queen Mary University of London. The model is an analytics-as-a-service one. The digital workplace management platform provides human experience insights helping to improve efficiency and it was launched recently. It helps to cope with and provide data for hybrid working. The f...

Aquis weekly movers: Hydrogen Utopia delays Main Market switch

Andrew Hore
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3
Aquis weekly movers: Hydrogen Utopia delays Main Market switch

Asimilar (LON: ASLR) has bounced back by 15.4% to 1.875p, following the share price slump in the previous week because investee company Dev Clever (LON: DEV) is leaving the standard list. However, there were no trades reported.

Hydrogen Utopia International (LON: HUI) will not be able to retain its Aquis quotation when it moves to the standard list. The move has been delayed until the publication of a supplementary prospectus. Even so, the share price rose a further 7.77% to 13.875p.

Wishbone Gold (LON: WSBN) has commenced a Magneto Tellurics survey on its interests in Western Australia. Once the survey is completed there will be a further six weeks before the data is analysed. This will help to choose where to drill next year. The share price increased by 4.35% to 4.8p.

The NHS is encouraging the use of the medical cannabis registry, and this helped add 1.94% to the share price of Ananda Developments (LON: ANA) and it ended the week at 0.525p. The acquisition of the remaining stake in DJT Group has been completed so Ananda Developments’ core business is growing and providing medicinal cannabis.

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Fallers

British Honey Company (LON: BHC) has published its 2021 accounts and the latest interim results, enabling trading in the shares of the craft spirits producer to recommence. The share price slumped by 44.4% to 19.75p. In 2021, revenues were £7.96m, but an impairment of the value of the United Distillers business, which is being integrated, meant that the loss was £11.9m. Interim revenues edged up from £2.99m to £3.04m, while the underlying operating loss increased from £1.31m to £1.96m, while there was an exceptional reorganisation cost of £396,000. Annualised cost savings of more than £1m are anticipated.  

Coinsilium Group Ltd (LON: COIN) investee company Greengage Global Ltd is launching an e-money account service in January. The company generated more than £1m in revenues this year. The share price fell 8.57% to 1.6p and it is two-thirds down on the start of the year.

AQRU (LON: AQRU) has acquired an investment in LawBEAM Ltd, which is a legal practice focusing on digital assets. LawBEAM will offer tech-enabled advice to organisations around the world. A new platform is under development and will be launched in 2023. The share price fell 6.8% to 0.685p.

Fuel consumption and emissions reduction additives developer SulNOx Group (LON: SNOX) raised £7650,000 at 11.5p a share. Nistad AS increased its shareholding to 13.1%, and it will introduce SulNOx products to the Scandinavian shipping market. The share price dipped 2.08% to 11.75p.

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