Edison Sparks - Morning News

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TMT
9 hours ago • minute(s) read
Author Sparks Team

Mercia Asset Management (MERC); announces grant of options


The company announced that options over a total of 5,412,140 new ordinary shares with a nominal value of £0.00001 each in the capital of the company were awarded yesterday pursuant to the 2014 Mercia Company Share Option Plan at an exercise price of 24.30p per ordinary share.

Healthcare
9 hours ago • minute(s) read
Author Sparks Team

Ergomed (ERGO); expects revenue increase of 26% to c. £68m


Ergomed announced its trading update for the year ended 31 December 2019. The company witnessed positive trading performance in both Clinical Research Organisation (CRO) and Pharmacovigilance (PV). The combined CRO and PV order book is expected to be c. £125m as of end-2019. The company continued to be debt-free at year end with cash and equivalent balances over £14m.

Industrials
9 hours ago • minute(s) read
Author Sparks Team

Windar Photonics (WPHO); LiDAR wind sensor receives €0.24m of funding


Windar Photonics announced that Eurostars has granted development funding worth €0.24m for the LAWIS project. The total grant amounts to €0.7m, which includes the Technical University of Denmark and an optical manufacturer in Lithuania.

Healthcare
27-01-2020 09:14:21 • minute(s) read
Author Sparks Team

Shield Therapeutics (STX); expects revenue to be £2.9m for FY 2019


Shield Therapeutics announced its business and unaudited trading update for the year ended 31 December 2019. The company’s cash position stood at £4.1m as of 31 December 2019. The FDA approved Accrufer with a broad label of treating iron deficiency in adults in the US. European Feraccru 2019 sales volumes increased 67% over 2018.

Healthcare
24-01-2020 08:41:05 • 1 minute(s) read
Author Sparks Team

Smith & Nephew (SN.); acquires Tusker Medical for an undisclosed sum


Smith & Nephew has acquired California-based Tusker Medical, developer of Tula System, for an undisclosed sum. The acquisition supports the company’s strategy to invest in innovative technologies that address unmet clinical needs. The transaction was financed from existing cash and debt facilities.

Metals & mining Insight
24-01-2020 08:30:52 • 3 minute(s) read
Author Sparks Team

Pan African Resources (PAF); on track to deliver full-year production guidance of 185,000oz.

The group’s gold sales grew 14.7% to 92,941oz (2018: 81,014oz).

Pan African Resources provided an operational update for the six months ended 31 December 2019. According to the company, the operations delivered a robust operational and commendable safety performance during the period. The Evander 8 Shaft Pillar project development is progressing according to plan, with steady-state production planned from March 2020 as well.

Investment companies
24-01-2020 08:16:57 • minute(s) read
Author Sparks Team

CVC Credit Partners (CCPG); announces December 2019 tender price


CVC Credit Partners European Opportunities announced the tender price in respect of the 76,796,296 sterling and 2,455,926 euro shares accepted for the December 2019 tender. The tender price will be £1.0434 and €0.9913 in respect of the sterling and euro shares. The NAV per sterling and euro share were £1.0534 and €1.0013, respectively, as of 31 December 2019.

Investment companies
24-01-2020 08:14:24 • minute(s) read
Author Sparks Team

HgCapital Trust (HGT); announces investment in Intelerad Medical


Hg, Manager of HgCapital Trust, has announced an investment in Intelerad Medical Systems for an undisclosed sum. The transaction is expected to close in Q1 2020, following satisfaction of customary regulatory approvals. As part of the transaction, HgCapital Trust will invest c. £28.9m in Intelerad, with other institutional clients of Hg investing alongside the company through the Hg Genesis 8 Fund.

Industrials
23-01-2020 08:17:47 • minute(s) read
Author Sparks Team

Plant Health Care (PHC); receives first patent approval for PREtec peptide


Plant Health Care received the first US patent grant for its novel PREtec peptide technology. The company expects additional patents to be granted over the coming months for its PREtec peptide technology.

Healthcare
23-01-2020 08:14:59 • 2 minute(s) read
Author Sparks Team

Avacta Group (AVCT); revenue up by 100% to £5.5m

The Group's order intake and sales pipeline into 2020 are the strongest to date.

Avacta Group announced its trading update for the 17-month period ended 31 December 2019. Revenue, which includes the initial milestone payment from LG Chem, has grown 100% to £5.5m and is ahead of market expectations.

TMT
22-01-2020 08:33:35 • 2 minute(s) read
Author Sparks Team

Tissue Regenix Group (TRX); expects revenue to increase 12% to £13m for FY 2019

The company expects to deliver revenue and EBITDA in line with its revised expectations.

Tissue Regenix Group announced its trading update for the year ended 31 December 2019. The company had a cash position of £2.4m as of 31 December 2019. During the period, the company increased the throughput of five clean rooms in San Antonio through the commencement of a second shift during H2 2019. The average number of orthopaedic donors processed monthly at the San Antonio facility more than doubled from Q1 to Q4.

Financials & real estate
22-01-2020 08:22:57 • minute(s) read
Author Sparks Team

Town Centre Securities (TOWN); occupancy level increases to 96.7%


Town Centre Securities announced an update for its half-year ended 31 December 2019. The company witnessed consistent operating performance with like-for-like passing rent increasing 0.4% underlying versus a year ago.

TMT
22-01-2020 08:21:27 • minute(s) read

The Mission Group (TMG); expects to report Fy19 results in line with expectations


For the year ended 31 December 2019, The Mission Group expects to report results in line with market expectations and anticipates the group to be debt-free/cash flow-positive at the end of 2020 if the trading profile across the year returns to normal patterns.

Financials & real estate
22-01-2020 08:18:56 • minute(s) read
Author Sparks Team

TBC Bank Group (TBCG); obtains preliminary banking licence in Uzbekistan


TBC Bank Group has obtained a preliminary banking licence in Uzbekistan. The company’s strategy is to develop a greenfield banking ecosystem for retail and MSME customers in Uzbekistan. The primary focus will be on digital channels, including the company’s neobank, Space.

TMT
21-01-2020 08:34:31 • 3 minute(s) read
Author Sparks Team

Sureserve Group (SUR); revenue increased 11% to £212.1m

Trading reported a strong start in FY20, thereby sustaining the group's momentum

For the year ended 30 September 2019, Sureserve Group reported revenue from continuing operations grew 11% to £212.1m. Trading for the current financial year started on a strong note, with the £333.2m order book covering about 72% of FY20 revenue. PBT from continuing operations grew 174% to £5.3m

Industrials
21-01-2020 08:32:02 • 2 minute(s) read
Author Sparks Team

Carclo (CAR); revenue from continuing operations increases 12% to £56.1m for H1 2020


Carclo announced its interim report for the half year ended 30 September 2019. Underlying operating profit from continuing operations increased by 56% to £3.3m. Group statutory loss before tax was £5.6m and solid progress was made in improving the financial position of the group, with net debt reducing to £26.8m as of 30 September 2019. Underlying EPS from continuing operations was 2.2p.

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