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Trackwise Designs a touch lower after closing open offer


Eddie Stobart Logistics PLC (LON:ESL) motored 16% higher to 9.3p in the early afternoon after raising GBP9mln through a share placing and subscription to become an investment company.

The AIM-listed cash shell, which own 49% of the logistics businesses, will be making an open offer to qualifying shareholders to raise an additional GBP7mln on the same terms as the placing and subscription.

Its name will be changed to Logistics Development Group plc.

1pm: Nakama in demand after announcing plans to become cash shell

Nakama Group PLC (LON:GUN) shot up by a fifth to 0.6p at lunchtime after agreeing terms to offload its four operating businesses to Sanderson, a privately owned recruitment business.

The businesses are Highams, the Nakama UK Business, Nakama HK and Nakama Singapore.

Once it is completed in January, the recruitment consultancy will become a cash shell, so it will either be required to make a reverse takeover or be re-admitted to trading on AIM as an investing company, otherwise trading will be cancelled.

12noon: Trackwise Designs a touch lower after closing open offer

Trackwise Designs PLC (LON:TWD) shed 4% to 230p at midday after announcing that an open offer set last month has closed oversubscribed.

The provider of specialist products using printed circuit technology has decided to accept applications for GBP1.6mln.

Together with a placing and subscription, the firm has raised a total of GBP12mln.

11am: Creo Medical jumps after first clinical use of MicroBlateFine device

Creo Medical Group PLC (LON:CREO) jumped 18% to 197p after unveiling the first in-man clinical use of its MicroBlateFine device, which it says is the world’s smallest fine needle microwave ablation device available for clinical practice.

The AIM-listed firm said it was used to successfully ablate pancreatic tumour tissue under Endoscopic Ultrasound guidance, without any procedural complications.

The device has the same dimensions as a routine biopsy needle, reducing the risk of procedural bleeding as well as increasing accuracy when used on fluid-rich organs such as the liver, kidney, lung and pancreas.

9.55am: Melodyvr tumbles on first day back on AIM

Melodyvr Group PLC (LON:MVR) tumbled 19% to 3.49p on its first day back on AIM.

The virtual reality content creator raised US$10mln through a subscription by placing shares at 3.75p each, representing 8.2% of the enlarged ordinary share capital.

The firm also entered into a binding commitment letter setting out the terms in respect of a US$25mln delayed draw term loan facility from Davis Partnership.

Meanwhile, N4 Pharma PLC (LON:N4P) slipped 13% to 8.6p after raising GBP2mln by placing 25mln shares at 8p each.

The placing, which was oversubscribed, was conducted at a 19% discount to Tuesday’s closing price.

The AIM-listed pharma company said the money will be used for the extension of the formulation and current stability work covering DNA and mRNA formulations.

8.45am: Petards Group an early riser after contract win

Petards Group PLC (LON:PEG) jumped 14% higher to 9.25p in early morning trading on Wednesday after revealing its wholly-owned subsidiary QRO Solutions has won a new contract.

The software company was awarded a deal worth GBP823,000 to provide Northamptonshire Police with camera infrastructure on arterial and rural roads within the county.

Delivery and installation will commence immediately with the bulk of the contract being completed in the first half of 2021, the AIM-listed firm said.

Elsewhere, Mobile Tornado Group Plc (LON:MBT) advanced 14% to 3.93p after signing a partnership agreement with telecoms solutions provider Telrad Networks.

The AIM-listed provider of instant communication mobile solutions will offer an integrated, end-to-end solution for Push-to-Talk (PTT) communication over broadband.

The new joint PTT solution will enable customers to use a single mobile device for both cellular and PTT communication in both one-to-one and group environments.

Proactive news headlines:

ANGLE PLC (LON:AGL) (OTCQX:ANPCY) has announced that independent data from researchers at The University of Texas MD Anderson Cancer Center, published in the peer-reviewed journal PLOS ONE, demonstrates the performance of ANGLE’s Parsortix system in tandem with multiple downstream molecular characterisation of circulating tumour cells (CTCs). The world-leading liquid biopsy company noted that the study used blood from healthy volunteers spiked with cancer cells from five breast cancer cell lines and one lung cancer cell line to evaluate the linearity, sensitivity, and specificity of the Parsortix system in combination with three downstream techniques for the molecular characterisation of CTCs. The Parsortix system demonstrated strong linearity suggesting that a patient sample would reflect the frequency of CTCs in the patient’s blood. Furthermore, the system was shown to be capable of isolating a single CTC spiked into 5mL of blood. This is significant given the rarity of CTCs and the prognostic significance of even a single CTC during adjuvant treatment of breast cancer, ANGLE said.

S&U PLC (LON:SUS) has said it is in “fine fettle” as the motor finance group revealed trading and profitability have rebounded despite a slowdown in November due to the second coronavirus pandemic lockdown. In a trading update for the period from August 1 to December 8, 2020, the group said demand for used cars and their auction values have “recovered well”, which was reflected in an improved rate of transactions at its Advantage motor finance business with net receivables at GBP253mln and customer numbers of 63,000.

Amryt Pharma PLC (NASDAQ:AMYT) (LON:AMYT) said it has received marketing approval from the authorities in Brazil for specialist cholesterol drug Lojuxta. The rare diseases specialist noted that the drug is used to treat homozygous familial hypercholesterolaemia (HoFH), a rare condition where the body finds it difficult to remove bad cholesterol from the blood. It has been approved by the regulator ANVISA for use alongside a low-fat diet and other lip-lowering drugs.

SigmaRoc PLC (LON:SRC) has unveiled plans to raise GBP12.4mln to “accelerate” its near term acquisition and investment pipeline as the construction materials group said it is continuing to perform strongly despite the environment created by the coronavirus (COVID-19) pandemic. The AIM-listed firm said it is planning to raise the funds through a placing of around 24.3mln new shares at a price of 51p each, a 3.3% discount to its closing price on Tuesday, which will be conducted by an accelerated bookbuild to be launched immediately. SigmaRoc said after establishing a “firm operational platform to manage risks posed by the pandemic”, it has now developed an investment pipeline of bolt-on acquisition and small expansion investment opportunities and that the proceeds from the placing will “accelerate its strategic development by executing on opportunities from within this pipeline”.

PCF Group Plc (LON:PCF) said it would use the disruption from the coronavirus (COVID-19) pandemic to undertake a strategic review of its business to reset objectives and targets. The specialist bank added that it has seen a recovery in loan repayments in recent months but is still being cautious over guidance given the uncertain backdrop. Loans in forbearance totalled GBP23mln at the end of November 2020 compared to GBP139mln at the peak of the first lockdown but results for the year-end September 2020 were still affected by higher impairments.

SIMEC Atlantis Energy Ltd (LON:SAE) chief executive Tim Cornelius struck a positive and optimistic note as the renewable power firm provided an operations update to investors. “2020 has presented significant challenges for us all but it has also presented many opportunities of which we have been able to take advantage with the support of our shareholders and stakeholders,” Cornelius said. “As a result, 2021 is looking to be a very positive year of milestone achievements across all of our divisions.” The company is expecting to advance planning and final permitting for the Uskmouth power station project in the first half of 2021. Presently, the company is responding to final information requests from the planning authorities, with the assistance of Mitsubishi.

Vast Resources PLC (LON:VAST) has launched a GBP4.8mln share placing which will satisfy the equity requirement for a larger financing package for the Baita Plai project in Romania The company told investors that the financing term sheet with an international banking institution is advancing and will go to bank’s final credit committee approval on December 15. Among the conditions is the requirement for the company to raise the equivalent of US$6.2mln of additional equity, and, as such the company is now launching the share placing.

Sensyne Health PLC (LON:SENS) is raising up to GBP27.5mln to “industrialise and scale” its data platform. A total of GBP25mln is coming from a placing of new shares at 90p each – a transaction that has now been successfully completed. Existing private investors can participate via an open offer of new stock. In the same announcement, Sensyne also said it had struck an exclusive strategic collaboration with Phesi, a US clinical trials data company.

OptiBiotix Health PLC (LON:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, has said it intends to appoint experienced pharma executive Christopher Brinsmead as a non-executive director, subject to the completion of regulatory due diligence being carried out by the company’s Nomad. The firm noted that Brinsmead has worked in the pharmaceutical industry for over 30 years, holding executive leadership roles with ICI, and Zeneca, before becoming chairman of AstraZeneca Pharmaceuticals UK, President of AstraZeneca UK and Ireland (2001-2010), and President of the Association of the British Pharmaceutical Industry (ABPI) from 2008-2010.

Sativa Wellness Group Inc (LON:SWEL) has said its board of directors have resolved to change the company’s fiscal year-end from July 31 to December 31, effective immediately. By moving the company’s reporting cycle to a calendar quarter basis in line with its operating subsidiaries. Sativa Wellness aims to reduce the time constraints and administrative expenses with having to reconcile multiple reporting periods among other related corporations. As a result of the year-end change, the company will now report interim financial statements for the three month period ended October 30, 2020, by the end of December 2020 and audited financial statements for the year ended December 31, 2020, by the end of April 2021. Afterwards, the company will revert to a customary reporting calendar based on a December 31 year-end, with fiscal quarters ending on the last day of March, June, September and December each year.

Alien Metals Ltd (LON:UFO), a minerals exploration and development company, said it has released an updated corporate presentation as of December 5 2020. Alien Metals continues to develop its projects in Mexico and Western Australia and continues to develop its exciting portfolio in the strong Iron ore, Silver and Copper commodities. The updated presentation can be found on the company’s website through the following link:

Tharisa PLC (LON:THS) has said that it’s CEO, Phoevos Pouroulis will provide a live investor presentation via the Investor Meet Company platform on Thursday, December 10, 2020, at 2.00pm GMT. Investors can sign up to Investor Meet Company for free and add to meet Tharisa via:

Impax Environmental Markets PLC (LON:IEM) has said its monthly factsheet for November 2020 is now available on the company’s website at:

Today’s Market View – Vast Resources, QuantumScape Corp, Phoenix Copper and more…

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