Admissions:
Greatland Gold (AIM:GGP) announced on 10 September 2024 that it had entered into a binding agreement with certain Newmont Corporation subsidiaries to acquire Newmont's 70% ownership interest in the Havieron gold-copper project, 100% ownership of the Telfer gold-copper mine, and other related interests in assets in the Paterson region. Greatland has announced that completion of the acquisition will occur in conjunction and simultaneously with Admission of the Consideration Shares to Newmont, and ownership and control of the Target Assets will transfer to the Greatland group with effect from 8:00 a.m. today, Wednesday
4 December 2024.
Delistings:
None
Transferring markets:
8 November: Zentra Group plc (ZNT.L)* will delist from the Equity Transition Segment of the Main Market on 11 December and admit to the Access Segment of the AQSE Growth Market on the same day. Zentra Group is a UK-based residential developer, development manager and property manager focused on the North of England and on 22 November completed a series of transactions, after having changed the Company's name from One Heritage Group plc on 17 October.
Potential** Initial Public Offerings:
Rumours about December IPO
Canal+: the producer of the Paddington films, confirmed it would separate from Paris-based conglomerate Vivendi and is expected to float in London on the Main Market of the London Stock Exchange on 16 December, according to a newly published prospectus. The demerger is subject to a vote among Vivendi’s shareholders on 9 December and would come alongside the separation of advertising agency Havas and newly-named publishing business Louis Hachette from the group. Canal+ would trade in London using the ticker CAN. It was reported last week that the firm was seeking a valuation of up to Euro8bn (£6.7bn) in its public debut. Canal+ owns StudioCanal, a producer of the Paddington film series. Earlier this year, it agreed to take over South African pay-tv giant MultiChoice to grow its international operations.
Biome Technologies 3.75p £2.71m (BIOM.L)
A bioplastics and radio frequency technology business reports on trading, following November’s Trading Update announcement. There are three RF projects of scale being built of which two were more likely to be delivered before the Y/E December. Additional complexities relating to component deliveries for these two large projects have arisen. The completion dates have therefore been revised into Q1 2025, so revenues and profits in 2024 are to be materially below current market expectations. The Board are in discussions for the additional working capital facility needed to bridge the working capital gap.
Concurrent Technologies 143.50p £121.82m (CNC.L)
A new product is launched by the designer and manufacturer of computer products, systems, and mission-critical solutions used in high-performance markets. The Hermod II is a rugged 10 Gigabit Ethernet switch that is purpose-built for deployment in harsh conditions in the defence and heavy industrial sectors. It acts as a central hub for the capture, delivery and analysis of in-field sensors and data. Increasingly customers are mandating Time-Sensitive Networking (TSN) to significantly improve performance and reduce the costs and operational complexity of managing disparate networks. The Hermon II positions CNC to fulfil future demand for ruggedised switches from major defence and industrial players and the CEO also states that it will open opportunities of its other interoperable systems and products.
Croma Security Solutions Group 89p £11.4m (CSSG.L)
The security solutions group reports a Trading Update at today’s AGM. Trading is positive for the current financial year and in line with market expectations. There are good levels of organic growth across its core markets in the education, utilities, health and leisure sectors. The main driver of growth will continue to be through the expansion of the security centre network. There is pipeline of opportunities to acquire profitable locksmith stores some of which are close to completion. These stores will be transformed into modern security centres so adding to the network of centres. A terrorism Protection of Premises Bill, going through Parliament, is initiating increased levels of safety in relevant public premises and events venues, and is driving a high level of new enquiries. A final dividend of 2.3p per share will be paid on 18 December 2024.
ECO Buildings Group 7.5p £5.7m (ECOB.L)
The modular housing solutions group announces revenues of EU1.1m, which is ahead of schedule and so delivering on its commitments announced on 20 September 2024. This achievement reflects operational efficiency, fulfilling customer orders from its new manufacturing facility in Albania. The CEO states it improves its position as solution provider delivering scalable, sustainable, and cost-efficient solutions for the escalating global housing crisis. The current order book is reported to be valued at over EU114m across the next three years showing the market relevance of its business model.
Enteq Technologies 3.9p £4.23m (NTQ.L)
The specialist energy services engineering and technology Company reports Interims to September. It is at the prerevenue stage and reported a loss of $1.4m. Its flagship product, the SABER (Steer-At-Bit Enteq Rotary) tool, is a novel and disruptive directional technology for drilling boreholes. Indications are that the equipment is fit for purpose and will perform as anticipated. The SABER system is ready for a customer’s trial drilling using the full system to drill three wells which are due to start next year. Should this be successful, it would then be expected to count as revenue generating. Net cash in September was $1.1m and post period end, it raised a further $2.1m (£1.6m). The Management expects this to be sufficient to complete further customer demonstrations and secure further commercial contracts.
IXICO 11.75p £11.35m (IXI.L)
Finals to Y/E September are reported from this provider of neuroscience imaging, using its AI-driven platform to help advance therapy research in neurological disorders. Its revenues declined by 13% to £5.8m, which was slightly less than recent expectations. This was due to a stronger H2 after the slower pace of new client contract wins reported in H1. The GP margin was slightly lower at 47% and, although partially off-set by cost reductions, the EBITDA loss increased to £1.7m from £0.8m. There was also a new CEO appointed towards the end of H2, and an equity fund raise of £4m in October, so a new path towards sustainable performance at scale seems to be emerging. This should be accelerated by the launch of the next generation TrialTracker AI-driven imaging platform and the increasing orderbook providing a strong foundations for a return growth.
Light Science Technologies Holdings 2.30p £7.99m (LST.L)
A Y/E November 2024 Trading Update from this Company with three divisions: Controlled Environment Agriculture; Contract Electronics Manufacturing; and Passive Fire Protection. Total Revenue increased by approximately 29% to c.£12.0m underpinned by strong trading across all divisions. Gross margins grew to 28% from 23% so losses for reduced substantially to c.£0.2m from £1.1m. The business operated profitably during H2 2024, and management is expecting to sustain this momentum in FY 2025. Cash improved marginally to c.£1.2m and there are additional undrawn debt funds available of £0.7m with Close Brothers. An increasing level of order book conversion is expected to making a growing contribution to all the key trading metrics.
TEAM 10.5p £4.56m (TEAM.L)
The wealth, asset management and complementary financial services group raised equity c.£1.1m at 10p. This is a 13% discount to the previous close and is supported by directors with £70k, existing shareholders, and a new strategic shareholder Salus Alpha Financial Services AG, a Swiss based wealth management firm. There is a WRAP Retail Offer open to eligible investors expected to close at 4:30pm on 9 December 2024. The net proceeds will primarily be used for funding towards financing of deferred consideration, as well as providing cash for working capital and general corporate purposes.
XP Factory 14.25p £23.65m (XPF.L)
The experiential leisure businesses operating the Escape Hunt and Boom Battle Bar brands reports interim results to September 2024. Revenues improved 33.2% to £24.9m, Gross Profits increased 33% to £15.6m, leading to a decline in Operating loss to £796k from £1.6m. A new Escape Hunt opened in Worcester in September and further two since then and there are three Boom franchise sites in Aldgate, Wandsworth and Bournemouth. Net debt is £1.3m with free cash generation of £2.1m and a £10m revolving credit facility is formalised with Barclays providing funding to accelerate growth. The CEO is encouraged by strong early indicators for the all-important festive season, with corporate pre-bookings significantly ahead of 2023, and Christmas trade will be important in delivering the full year's results.
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