Tasty (TAST) shares jump 18.82% to 5.05p as company repaid £1.2m loan facility
On Thursday, the restaurant operator announced that it had repaid in full its £1.25 million four year term loan facility from existing bankers Barclays Bank. The Board said it had taken the decision to repay the loan after experiencing strong cash flow and a healthy net cash balance.
Following the repayment of the loan, Tasty has a net cash balance of approximately £8.6 million and no debt The Board believes that, with its current net cash and future cash flow, it will have sufficient funds to weather prevailing economic uncertainties and cost pressures and also satisfy its measured expansion plans for a pipeline of up to five to six new units in 2022.
Xeros Technology Group (XSG) shares jump 12.63% to 53.5p amid solid revenue growth
On Wednesday, the group reported a revenue growth of 23.1% to £0.5m from £0.4m as a result of licence partner sales in 2H22 driving both revenue growth and margin increases.
Shares in the group reached highs of 60p this morning after falling to lows of 35.5p in late afternoon trading on Wednesday following an adjusted EBITDA loss of £6.3 million against £6.8 million, and a pre-tax operating loss of £6.9 million compared to £7.6 million in FY21.
Xeros informed investors that it expects further levels of investment to fund its business in FY23 and that its board is currently working on plans to secure the necessary investments.
Bushveld Minerals (BMN) shares rise 10.37% to 7.45p as it secures full project funding
Bushveld Minerals unveiled that it has secured funding for the engineering, procurement and construction of a hybrid mini-grid to supply energy for its Vametco operation in South Africa.
Not only will the hybrid mini-grid project in South Africa provide about 10.7% of Vametco's electrical energy, but it will also demonstrate both the technical and commercial viability of hybrid mini-grids employing solar panels and vanadium redox flow battery (VRFB) technology.
The project's total cost is estimated to be 113 million rand - that’s about £5.8 million. The project is now fully funded and is expected to be completed in the first half of 2023, it said.
Argos Resources (ARG) shares fall 17.50% to 1.65p as shares face suspension from July
Shares in the Falkland Islands-based exploration company will be suspended from London’s AIM market from 1 July 2022 after it reported delays regarding its upcoming annual report.
The company has attributed the delay to ongoing discussions with auditors to gauge the basis on which its annual audited accounts should be prepared. As a result, the company said it will not be in a position to publish its 2021 financial statements by the deadline of 30 June 2022.