Welcome to taking stock on.... Thursday 10th August 2023
Taking Stock: Is a look at today's top business news & investment views plus we cover the winners, losers, the most read company news & the most followed. Today this includes:
Does your portfoli have exposure to AI?
RISERS
Silver Bullet Data - Trading Update
Highlights
· Strong revenue performance of £4.1m - a year-on-year increase of 76% (H1 2022: £2.3m)
· Significantly reduced losses for the period compared to prior year
· Reduction in cost base to reflect the focus on achieving a headline profit before tax in Q1 2024
· Strong growth across key markets: US, UK and APAC
· Increased demand to Group's Contextual AI product, 4D across all markets especially the US
FALLERS
Alien Metals - Fundraise Gross proceeds of £2 million.
The Placing Price represents a discount of approximately 29 per cent. to the Closing Price of 0.28 pence per Common Share on 8 August 2023, being the latest practicable business day prior to the publication of yesterday's announcement.
The net proceeds of the Fundraise will be applied towards:
· Funding UK and Australian salaries, overheads, corporate activities and working capital, until early 2024
· Funding exploration activities particularly around Native title negotiations and field heritage surveys at Hancock
· Funding exploration activities at Pinderi Hills, an area which includes Elizabeth Hill and Munni Munni
As part of the Placing and included above, the company will issue WH Ireland Limited with 39,930,144 new Common Shares in lieu of fees.
RNS WORTH READING
Spectral MD Holdings - Proposed AIM Cancellation
Spectral MD Holdings an FDA Breakthrough Designated company focused on Artificial Intelligence driven Medical Diagnostic Solutions, to be Listed on Nasdaq Through Business Combination with Rosecliff Acquisition Corp I.
· Spectral MD is an Artificial Intelligence (AI) company focused on predictive medical diagnostics. The Company's FDA Breakthrough Designated DeepView AI Wound Diagnostics platform ("DeepView") uses proprietary algorithms to predict wound healing
· The proposed Transaction values Spectral MD at an estimated enterprise value of $170 million, equivalent to approximately 101p per share, a significant premium to Spectral MD's current AIM share price. All valuations included in this press release assume that there are no redemptions in the Transaction
Cancellation pursuant to Rule 41 of the AIM Rules for Companies ("AIM Rules") in due course with the current expectation that this will be sent on or around August 18, 2023.
TOP BUSINESS STORIES
UK RICS house price gauge falls to lowest since 2009 as interest rates rise
British house prices saw the most widespread falls since 2009 last month as interest rates hit a 15-year high, while rents surged by the most since 1999 as more landlords sold up, a survey showed on Thursday.
The Royal InsThis was the lowest reading since April 2009, during the depths of the global financial crisis, and below economists' forecasts in a Reuters poll for a drop to -50.titution of Chartered Surveyors (RICS) said its house price balance, which measures the difference between the percentage of surveyors reporting price rises and falls, dropped to -53 in July from a downwardly revised -48 for June.
Brokers predict ‘mortgage price war’ as lenders including HSBC and Nationwide cut rates again
Brokers have suggested there could be a “mortgage price war” as lenders continue to reduce rates amid hopes inflation is finally on the way down.
Nationwide reduced prices on some of its fixed products by up to 0.55 percentage points while HSBC reduced rates by up to 0.2 percentage points. TSB also lowered rates by up to 0.4 percentage points.
Last-minute summer holiday bookings rise as Brits flee rain
School holidays are in full swing but it can be hard to believe this is peak summer for anyone who finds themselves on a UK beach.
Record rain has struck the UK, leading to a rise in last-minute holiday booking, travel agencies report.
Julia Lo Bue-Said runs Advantage Travel Partnership, a network of independent travel agents who claim to represent around 20% of travel agents. She told the BBC 18% of bookings within the last month have been for travel in August, a much higher proportion than the 4% she would normally expect.