AIM MOVERS OF WEDNESDAY 23 SEPTEMBER 2020
In a trading update, the advanced surface coating technology developer said it expects to report revenues of £4.7m for the year ending 30 June and an EBITDA loss of £0.5m.
This morning’s news, which was also reported by Business & Innovation Magazine, the company told investors that this was in line with its trading update on 16 July 2020.
Cash at the bank is expected to be around £2.7m while there are capital commitments of around £0.5m remaining to fully complete the group’s investment in its UK site relocation.
Hardide said production has continued uninterrupted at the UK and US sites during the pandemic with ‘significant emphasis’ being placed on health and safety measures.
The relocation of the business to the new site at Longlands Road, Bicester is now complete, on schedule and at projected cost, with a large reactor now having been installed and comussioned, which completes the installation of all new equipment at the facility.
“Looking beyond the disruption of the present Covid-19 pandemic, the board of Hardide believes there are strong grounds for expecting a return to increasing demand and remain positive about the longer-term growth of the company,” the company said this morning.
Hardide expects to report full year preliminary results on or around 7 December 2020.
shares jumped 20.16% to 57.3p with possible offer
Advice firm Frenkel Topping made the group a non-binding offer to combine the two businesses in an all-share acquisition of NAHL's entire issued and to be issued share capital.
The Board of NAHL said it is considering the proposal together with its advisers and that a further announcement will be made in due course regarding its decision.
The offer comes as Frenkel Topping told investors on Tuesday that it has refocused its acquisition strategy away from financial advisor firms after it failed to find suitable targets.
Frenkel Topping said it believes there is ‘a clear strategic, operational and financial rationale to combining these two complementary businesses that focus on providing excellent professional support to the victims of life changing injury, incident or clinical negligence.’
was up 18.97% to 34.5p with new partnership
The producer of speciality graphene additives is to launch a new graphene-enhanced car polishing product in partnership with Infinity Wax, a specialist car care distributor.
Infinity Wax will launch the QDX Graphene Detailing Spray during Q4 2020, it said. Detailing sprays are used to elevate the shine of a vehicle and to make it easier to wipe dirt away.
When launched, the QDX Graphene Detailing Spray will be available to car owners of all types which thd group said represents ‘yet another significant milestone’ it has achieved.
"We have seen growing interest from the car care sector for graphene nanoplatelet dispersions to take product innovation to a new and exciting performance level.
The QDX Graphene Detailing product is a great step forward for Infinity Wax and a major milestone in this space for AGM. It further validates the ease-of-use and outstanding utility of the graphene nanoplatelet dispersions we offer,” said Adrian Potts, CEO of AGM.
shares ticked up 6.25% to 8.5p after contract win
The media group has signed its first contract for its BRICKLIVE tour themed around the Paddington Bear brand with White Rose shopping Centre in Leeds.
This is the second time the group has partnered with the White Rose Centre who it said are ‘delighted’ to be showcasing the Paddington Bear Models during the Christmas period 2020.
Under the agreement, its subsidiary Brick Live International (BLI) will produce and exhibit a themed trail of Paddington Bear models around the UK, Ireland and the Channels Islands.
The deal will run for an initial period to the end of February 2023, the company said, with Brick Live International to pay a royalty fee based on revenues generated from the tour.
The group said it believes this will be the first of many bookings for Paddington Bear models.
The group said in its 1H20 results yesterday that it continues to navigate itself through the ongoing pandemic, enabling the company “to survive and re-launch its touring business.”
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