Darktrace shares rise 24.20% to 515.2p on possible takeover by Thoma Bravo
Darktrace said it was in early discussions with private equity firm Thoma Bravo LP over a possible cash offer for for its entire issued and to be issued share capital. Under the City Code on Takeovers & Mergers, Thoma Bravo has until 12 September to make an offer for Darktrace, or announce that it will not be making an offer.
Darktrace emphasised that discussions were at a preliminary stage and there was no certainty that an offer would be made, nor as to the terms of any such offer.
Tremor International shares fall 22.65% to 338p as interim profits drop amid "challenging macroeconomic conditions"
Tremor International reported record Q2 adjusted EBITDA, but recorded a drop in H1 profits. The company pointed to inflationary pressures, rising interest rates, geopolitical and macroeconomic uncertainty, recession concerns, and widespread global supply chain issues as headwinds for the remainder of 2022 and beyond.
Tremor reported Q2 adjusted EBITDA of US$39.1m million, compared to US$37.3m the previous year. Guidance for Q2 had been US$40m.
Pretax profit dropped 18% in H1 to US$28.8m from US$35.1m the previous year as operating costs increased 20% to US$97.5m.
The company reported a 2.8% increase in revenue to US$156.7m in H1, compared to US$152.4m the previous year. Adjusted EBITDA increased 12% in H1 to US$72.7m, compared to US$64m the previous year.
The company said it expected to "enhance platform scale and differentiation, and expand strategic capabilities and global market share" through its pending US$239m acquisition of Amobee, proposed US$25m investment in VIDAA, and completed integration of Spearad.
Tremor expects an adjusted EBITDA for the full year of c. US$155m.
Revolution Beauty shares rebound another 29.73% to 24p on continued volatility after FY23 revenue downgrade
Revolution Beauty shares rebounded another 29.73% today after jumping 33.85% on Friday. This follows much volatility after the company's August 2nd's announcement of a 7% revenue downgrade for FY23, and subsequent news of audit complications.
Despite the revenue downgrade, Revolution Beauty's top line is still set to expand 15%-20% (ex Russia/Ukraine) this year and the company should still be profitable with the seasonally stronger second half, meaning it is likely to hit broker Zeus's 1.5p EPS target.
FY 2022 results are expected on 30 August.
Power Metal Resources shares jump 45.71% to 1.28p on discovery of large magnetic conductor at Molopo Farms Complex project in Botswana
Power Metal Resources said it completed two ground-based electromagnetic geophysics surveys at its Molopo Farms Complex project in Botswana. Preliminary results highlighted a large shallow dipping magnetic conductor at drillhole K1-6. A planned 2022 diamond drill programme's start date has now been brought forward. The programme will focus on testing the central and stronger part of the magnetic conductor. At present, the plan is to drill 6 holes for approximately 2600m.
Paul Johnson, CEO, commented:
"Today's exploration news is, in my view, potentially one of the more significant the company has released in its 3-year history as Power Metal.
We have confirmed that drillhole K1-6 at Molopo Farms, drilled during the 2020/2021 programme, intersected the edge of a very large-scale and strong magnetic conductor. Significantly, drillhole K1-6 highlighted that the edge of the magnetic conductor was mineralised, with widespread nickel sulphides demonstrated from assay testing and follow up petrological analysis."