Movers of Thursday 4 August 2022
shares rise 22.86% to 107.5p on £1.2m fundraise
Alkemy Capital said it had raised £1.2m in an oversubscribed placing of 1.2m new ordinary shares at a price of £1 per share. The price represents a 14% premium to the company's last closing price of 87.5p.
Alkemy Capital said it would use the proceeds to fasttrack the development of subsidiary TVL's lithium hydroxide processing facility in Teesside, UK, as well as for general working capital purposes.
shares rise another 23.57% to 6.5p on US$7.9m cash injection from Magister Investments
Agriterra shares continued their rise after the company said on Friday it had secured new debt funding from its majority shareholder Magister Investments, worth US$7.9m. The capital will enable immediate repayment of an existing high-cost US$6.1m facility owed to an external banking institution. It will also enable cheaper financing of grain purchasing in Mozambique, without making use of local borrowing/overdraft facilities that typically carry higher interest rates, the company said.
Management estimates that this debt refinancing will enable Agriterra to save approximately US$600K in annual interest and fee costs during the first year.
shares rise 16.92% to 0.38p on 1.2 GW solar/wind/green hydrogen power project in Pakistan
Oracle Power said yesterday it had received a green light from a Pakistani regulator regarding a 1.2 GW renewables hybrid power project in the country. The approval is subject to the provision of a $600K performance guarantee by Oracle.
The project will see a 400 MW electrolyser facility powered by a 1.2 GW renewables hybrid power plant. "Such a green hydrogen plant would be able to produce up to 55,000 tonnes of green hydrogen pa at full capacity." the company said.
See our recent Hydrogen Roundup for more news on the sector.
shares rise 17.39% to 0.14p on continued excitement over inaugural inventory monetisation transaction
Supply@Me shares continued their rise after the company said on Friday its first official inventory monetisation (IM) transaction was being finalised. Supply@Me said it had worked closely with partner VeChain in July to design the integration processes between their respective platforms.
Supply@Me said the IM transaction was in the final stage of completion, involving the coordination of the formal signing process of three parties: the VeChain Foundation, its Italian operating subsidiaries, and the trading company.
The company said all parties were fully committed to the formal completion of the IM transaction, following each party's final internal approval process which, with reference to the client company (a global manufacturer), is planned for next week.
Supply@Me shares are up 52% since the announcement.
shares rise 17.39% to 0.68p as revenue increases in FY22 on improved pipeline
Falanx Group said it expects revenues to rise 14% in FY22 to £3.5m, arising from improved professional services revenues and a much improved pipeline.
The company said it had moved to a new cyber security monitoring platform (Triarii) during the year. Combined with higher services utilisation, this has increased its gross margin to 40%, compared to 32% in FY21, it said. Falanx also expects to record a reduced adjusted EBITDA loss than in the previous year. On 30 June 2022, the company had cash balances of £2.7m, in line with budget.
"Significant planned investment has taken place in the cyber division, particularly around sales and marketing expansion and product innovation. As a result of this, the business has established a far greater pipeline than in previous years" the company said.
Full audited results are expected in September 2022.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.