* A corporate client of Hybridan LLP
** Arranged by type of listing and date of announcement
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour
Dish of the day
Delistings:
Lok’nStore Group (LOK.L) has delisted from AIM
Tyman (TYMN.L) has delisted from the Premium segment of the Main Market
What’s baking in the oven? **
Banquet Buffet***
ITM Power 52.63p £324.9m (ITM.L)
The designer and manufacturer of electrolyser systems referred to their trading update announced on 6 June 2024 which stated that they expected the EBITDA loss for the 12 months ended 30 April 2024 to be between £39.0m and £44.0m, improving on the previous guidance of £45.0m to £50.0m. The EBITDA guidance included a provision relating to disputes on legacy projects. They have now concluded these matters and can release the provision for FY24. Accordingly, with the audit nearing completion, the Company expect the EBITDA loss for the year to improve to between £30.0m and £32.0m.
The property services Group that delivers compliance and sustainability solutions confirms that it has completed the build of the final outstanding legacy project, relating to its former construction subsidiary, DCB (Kent) Ltd, ending its financial liabilities relating to these under parent company guarantees. The building has been completed on time and in line with cost forecasts. The total net pre-tax cost to complete for the nine DCB projects remains in line with those announced at the Company's results on 9 July 2024. Additionally, the client for the final project has contracted Kinovo for further external works to the property, which are deemed as variations to the contract and will be paid for separately by the client, therefore not affecting the final cost to complete. These additional works will extend the date of practical completion to September.
Orcadian Energy 10.5p £8.3m (ORCA.L)
The oil and gas exploration and development company announce that further to the announcements on 22 May 2024, 13 June 2024, 1 July 2024 and 5 July 2024, that Shell International Trading and Shipping Company Limited has confirmed to the Company that it does not intend to take any steps in relation to existing borrowings by the Company under its loan facility with Orcadian until 31 August 2024. Orcadian's proposed Industry Partner in respect of the Earlham licence has made an initial payment of $100k to Orcadian and Orcadian has paid the same amount to Shell and has undertaken to deliver the balance of funds, due under the Shell Facility, to Orcadian by the end of August 2024.
The provider of health, safety, hygiene and environmental consultancy services and security solutions to the public and private sectors announces its audited results for its financial year ended 31 March 2024. Group sales revenue increased to £3.778m, (2023: £3.438m), EBITDA increased to £0.510m (2023: £0.366m) and Cash reserves of £0.488m at the year end and after share buybacks (2023: £0.750m). The board is confident that the trading subsidiaries can each contribute to Group profits in 2024-25 and that it will be possible to modestly increase fees across most of the sectors in which they operate. Economists are predicting that inflation rates have now stabilised, and their expectation is that this should lead to a general improvement in consumer confidence and potentially higher investment in the services they offer.
RentGuarantor Holdings 278p £33.0m (AQSE: RGG)
A provider of rent guarantee services announces its interim results for the six months ended 30 June 2024. Revenue was up 70% on the comparative six-month period last year to £517,589 (H1 2023: £304,965), loss after tax was stable at £452k (H1 2023: £408k) and cash and cash equivalents decreased to £22k (H1 2023: £56k). They believe that the long-term opportunity remains significant and the developments in the first six months of 2024 are supportive of their strategy. The economic and geo-political environments are particularly difficult to anticipate, and the policies of the new Labour government are still to be fully revealed.
SkinBioTherapeutics 13.75p £29.0m (SBTX.L)
A life science company focused on skin health, has raised £1.56m at 10.5p per share with new investors Premier Miton, the institutional investment manager, and Cynosure Capital Pty Ltd. The additional funding of £1.44m will enable the Company to continue to support the roll-out of AxisBiotix-Ps, the commercialisation of the acne treatment and the potential payment of the Dermatonics deferred consideration in 2025, as well as general working capital. It will also strengthen the Company's balance sheet to support the potential acquisition, removing the need for the proposal to borrow an additional £0.5m under any acquisition financing facilities.
The provider of frontline healthcare services, corporate fitness and wellbeing services across the UK and Ireland announces the appointment of Laurence Goldberg to the Totally Board of Directors with immediate effect. Laurence joined Totally in 2022 as Director of Finance. He has a career in finance spanning more than 35 years, with ten years at Director level. Most recently, Laurence has held Finance Director roles in Private equity and energy start-ups, including WM5G, and Tonik Energy, building upon previous roles at EON, Virgin Media and Lloyds Bank where he qualified as an accountant. He also volunteers as the Treasurer & Member of the Trustee Board for the Institute of Money Advisers.
Tower Resources 0.012p £2.2m (TRP.L)
The oil and gas company focused on Africa announces the following Board changes. First the appointment of Ms Stacey Kivel as an independent Non-Executive Director of the Company with immediate effect. Stacey has 20 years' experience in senior management and as a company director, including as a Head Corporate Counsel and Company Secretary, working across business development and investor relations for oil exploration operators with assets in Africa, including both AIM and TSX listed companies. Second, the Company announces that Dr Mark Enfield has agreed to increase his time commitment to the Company and will henceforth serve as an Executive Director of the Company.
Vector Capital 32.5p £14.7m (VCAP.L)
A commercial lending group that offers secured loans primarily to businesses located in England and Wales announces its interim results for the six months ended 30 June 2024. Revenue for the period was £2.5m (H1 2023: £2.9m),
Profit before tax decreased to £707,000 (H1 2023: £1.3m) and cash balance increased to £1.60m (H1 2023: £479k). Continuing challenging conditions within the Company's SME bridge financing sector, with borrowers often taking longer to redeem loans as they deal with supply cost issues, persistently high interest rates and a cautious lending environment.
XP Factory 14.75p £25.8m (XPF.L)
The UK's pre-eminent experiential leisure businesses operating the Escape Hunt and Boom Battle Bar brands announces that it will release its results for the 15 months ended 31 March 2024 on 2 September 2024 and will host investor meetings in the days thereafter. The Group has traded in line with the board's expectations in the first quarter of the financial year to March 2025, with continued positive, volume-driven like for like growth across both brands. A comprehensive update on current trading and outlook will be provided in the results announcement on 2 September 2024.
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