Boku shares rise 14.94% to 88.5p on multi-year commercial agreement with Amazon
Boku said it has entered into a new multi-year commercial agreement with a subsidiary of Amazon to supply its digital wallet and other local payment methods to Amazon.
The initial 3-year agreement covers the processing of payments for Amazon Prime Video subscriptions through Amazon's primevideo.com site for customers located in certain countries in Southeast Asia and Africa. Boku's revenue from Amazon will be based on a percentage of Prime Video transaction value that it processes.
Jon Prideaux, CEO, commented:
"We are delighted to have entered into this new agreement with Amazon which demonstrates that one of the world's most well-known brands has chosen Boku to process certain digital wallet payments, reinforcing Boku's strategic move into these areas."
Jarvis Securities shares rebound 26.06% to 118.5 on volatility after subsidiary JIML's systems and controls came under review
Jarvis Securities said on Friday it had appointed regulatory consultants Ocreus Ltd, to review the systems and controls of its subsidiary Jarvis Investment Management Limited (JIML), pursuant to s166 FSMA. The process is expected to take 3 to 6 months, with further updates provided as necessary, the company said.
Until the review is complete, JIML will not accept new clients from certain of its Model B corporate clients, nor pay dividends to Jarvis, without the FCA's approval.
"JIML will continue to work with the Skilled Person and FCA with the aim of having the restrictions lifted as soon as possible" the company said.
Jarvis said it expects the restrictions to have a "limited impact" on JIML's forecasted revenue and profitability, as anticipated new business from Model B clients is not reflected or built into the published forecast.
Jarvis shares sunk 49.19% after the news broke on Friday, but today recovered 26.06%. Shares remain down 35% since the announcement.
Ethernity Networks shares soar 47.62% to 15.5p on US$4.6m follow-on contract
Ethernity Networks said it has signed a follow-on contract with an existing customer worth US$4.6m. The customer is a Chinese network OEM with operations in China and India.
Under the contract, Ethernity will supply low-cost systems-on-chip with support for Gigabit PON (devices for use in fibre optic networks), adapted to enable Fiber-to-the-Room (FTTR) deployments.
The contract brings the total value for the company's PON technology with the unnamed customer to US$7.6m. Ethernity expects revenue from the new contract to be recorded in 2023 and 2024, with a "significant contribution" to 2023 revenues.
David Levi, CEO, commented:
"This deal confirms our prior expectations that Ethernity's contract wins would lead to follow-on business. We are extremely pleased with the advances we have made on a deployable PON product with this OEM customer, and we are excited to begin work on this extended offering for the new FTTR market."
Eve Sleep shares sink 41.38% to 0.43p on widened pretax loss and urgent need for funding
Eve Sleep said it had commenced a formal sales process in June 2022 to explore financing options, including the possibility of selling the company, with no firm offers materialising thus far.
In today's update, Eve noted that despite significant cost savings, the company will require funding in October 2022, and if such funding cannot be raised or a firm offer for the company is not received before its cash reserved are depleted, its board will take "appropriate steps to preserve value for creditors".
Adding to the grim outlook, the company also reported a widened pretax loss of £4.6m from £2.3m the previous year, and a revenue fall of 16% to £11.6m from £13.9m.
Cheryl Calverley, CEO of Eve Sleep, commented:
"We are doing everything possible to manage the business through these incredibly difficult times, whilst speaking with potential investors and strategic partners to secure fresh investment aiming to put eve on a more secure and sustainable footing. The business has been streamlined dramatically, with cash preservation our absolute focus."