Eqtec shares rise 21.25% to 0.39p as it raises €1.45m for waste-to-energy plant
Eqtec PLC said it raised €1.45m to fund additional investments in its Italia MDC waste-to-energy plant.
Eqtec raised the funds through a combination of shareholder loans and equity from Quainstone Limited and Eqtec, each subscribing for approximately half the amount. Eqtec shares remain largely unchanged as the majority of its participation was through a shareholder loan, intended to be repaid with a bank refinance.
The updated shareholding in the plant is as follows: Quainstone Limited 48.25%, EQTEC Holdings Limited 19.99%, MetalNRG Eco Limited 15.88%, and Pitcole Limited 15.88%.
Eqtec will use the funds to make upgrades to the plant, including the ability to produce biochar, resulting in an additional revenue stream, and the addition of a dryer and thermal oxidiser to make the plant more self-sufficient.
Eqtec's new financial model forecasts revenues of c. €2.6m from the plant with an EBITDA of c. €1m/year from start of operations through end of 2027.
hVIVO shares jump 11.37% to 14.5p on continued excitement over £13.6m contract to test RSV antiviral candidate
hVIVO announced two weeks ago a large £13.6m contact with a US biopharmaceutical client, to test its respiratory syncytial virus (RSV) antiviral candidate using hVIVO's RSV human challenge study model.
The Phase 2a double-blinded human challenge trial will evaluate the efficacy profile of the candidate against RSV. The trial will take place at hVIVO's quarantine facilities in Whitechapel.
The study is expected to commence in Q3/Q4 2023, with revenue being recognised in 2023 and 2024.
Yamin 'Mo' Khan, Chief Executive Officer of hVIVO, commented:
"We're delighted to be working with this biopharma client to test their antiviral candidate using our established hVIVO RSV Human Challenge Study Model. We continue to see an increase in the size of our studies as new benefits of challenge study data are continually realised by both new and existing biotech and pharma clients."
Markets cheered the news, sending HVO shares up 10% on the day of the announcement. Shares have since climbed 53%.
Altitude Group shares rise 20% to 27p on upgraded FY23 guidance
Altitude Group said it experienced robust trading during the FY via expansion of its Services and Merchanting programmes, resulting in strong underlying performance maintained through October and November.
As a result, Altitude said it expects FY23 to be "materially ahead" of market expectations, and that it expects to achieve "record" year-end results.
Altitude said it anticipates revenue and EBITDA growth to continue throughout 2023.
Parsley Box shares rise 26.17% to 5.4p on continued volatility after it announced intention to go private
Parsley Box said on Friday it intends to re-register as a private limited company, pending a shareholder vote on December 14. The proposal needs 75% approval to pass.
Parsley Box listed on AIM in March 2021 at 200p/share, which has since collapsed to 5.4p.
"There has been limited liquidity in the ordinary shares for some time and, consequently, the admission of the ordinary shares to trading on AIM does not necessarily offer investors the opportunity to trade in meaningful volumes or with frequency within an active market." the company said.
Parsley Box estimates re-registration as a private limited company would save it £400K/year in administrative costs.
Parsley Box shares are up over 200% since the announcement, but still down 84% YTD and down 97% since IPO in March 2021.