Molten Ventures (GROW) shares tick up 5.74% to 828.5p as it notes greater deal activity
The venture capital firm said it has seen continued momentum in deal activity, with £259m invested over the year to date, including 12 primary deals (41% of capital) and 15 follow-ons (59% of capital), while cash proceeds from realisations in the year to date stood at £110m.
CEO, Martin Davis, said today’s investment update reflects Molten’s ability to invest “in the most promising private companies across a range of technology segments”, adding that the European technology venture market is thriving despite wider fluctuations in public markets.
As a result, Davis told investors that he believes Molten Ventures “is well-positioned to take advantage of this disconnect” and that its year end guidance of fair value growth in the region of 35% remains, “keeping up the strong momentum” the company evidenced so far this year.
Katoro Gold (KAT) shares jump 28% to 0.8p after it deploys of diamond programme
Earlier this month, the gold and nickel exploration and development company confirmed to investors that a drill rig on the Haneti Project diamond drill programme in Tanzania had successfully been deployed and that drilling on the 1000m programme had commenced.
Katoro holds 65% interest in the diamond project with 35% held by Power Metal Resources.
At the time of the announcement, Katoro’s Executive Chairman, Louis Coetzee, said: "It is a proud moment for us as a Company and our partners to have reached this stage of the Haneti exploration program and we look forward to receiving results from the drill programme."
Tintra (TNT) shares receives some light relief, rising 27.27% to 210p
Shares in Tintra have seen some light relief after it told investors last week that the business had run into some unexpected complexities in the sale of its lottery administration business.
It said the sale of certain assets of Prize Provision Services to Sterling Management Centre, which was first disclosed in October 2021, requires navigating complex banking requirements.
As a result, the company said the sale process had been taking longer than expected, though it detailed that both parties were operating on a "time is of the essence" basis. Tintra told investors that it has a target of signing the sales-and-purchase agreement by mid-February.
Despite this timing delay, Tintra noted last week that it was “proceeding well” with “a good working relationship” established between the buyer and the lottery administration business.
Omega Diagnostics (ODX) shares rise 17.74% to 9.125p as confirms potential fundraising
On Monday, the specialist medical diagnostics company confirmed that it was in ongoing discussions with certain investors and shareholders regarding a potential equity fundraising.
The statement was published following online speculation in relation to a potential raise.
The company told investors that current market conditions remain “challenging” and that accordingly, any issue of equity from Omega would be at a discount to the current share price. It added that any fundraise would include an open offer to accommodate retail investors.