The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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DG Innovate PLC - Caerphilly, Wales-based research company focused on electric vehicle drive and energy storage technologies - Says Pierre Pellery, formerly an electric motor design engineer at Tesla Inc, is joining the company as a consultant. Chief Executive Officer Peter Bardenfleth-Hansen says: ‘I am delighted to have another former Tesla colleague onboard. Pierre’s motor designs have helped revolutionise the industry and with the addition of his skill set, we believe DGI will be able to deliver on start of production of our Pareta electric drives on an accelerated timescale’
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Argentex Group PLC - London-based currency risk manager and payment solutions provider - Announces a retail offer for up to 4.1 million new shares at a price of 45 pence each. Admission and trading of the new shares to the AIM market is expected to occur on May 13. Argentex shares drop 4.9% following the announcement.
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Deltic Energy PLC - natural resources investing company focused on the North Sea - Awarded two licences over eight blocks by the North Sea Transition Authority in the third tranche of the UK’s 33rd Offshore Licencing Round. All blocks are being awarded to Deltic on a 100% equity position and contain a mixture of ‘small discoveries and low risk’ infrastructure-led exploration prospects in the southern North Sea gas basin. ‘In light of the current fiscal and political environment, Deltic will carefully consider whether accepting further licences in the UK is in the best interest of the business and its shareholders,’ Deltic adds. Chief Executive Officer Graham Swindells says: ‘These further Tranche 3 provisional awards further demonstrate the ability of the Deltic team to identify and acquire valuable exploration and appraisal acreage within the [UK continental shelf]. We will now assess each of the provisional awards and carefully consider which, if any, of these awards the company will accept.’
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Roadside Real Estate PLC - Abingdon, England-based investor - Shares restored to trading on AIM following the publication of the company’s annual report. For the 15 months to September 30, Roadside’s pretax loss is £7.8 million, compared a £797,000 profit in the year ended July 2, 2022. Revenue is £60,000 for the period compared to £4.3 million in financial 2022. Basic loss per share widens to 7.00 pence from 6.68p. Finance expenses increase to £2.5 million from £708,000. ‘Following a re-assessment of its strategy and opportunities, the group is now focused on its real estate business, which it believes will generate the best returns in the long term’, Roadside says. The company holds an extensive immediate £100 million pipeline of targets, and has expanded its medium-term target pipeline by £150 million to around £250 million. Separately, Roadside says its subsidiary Cambridge Sleep Sciences has completed the acquisition of the remaining IP rights held by Cambridge Sound Technologies Ltd. The consideration for the acquisition will be settled through the issue of 476 new CSS shares alongside a grant of £100,000.
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Electric Guitar PLC - Reading, England-based special purpose acquisition company focused on the advertising and digital marketing industries - Completes the acquisition of 3radical Ltd, a New South Wales-based audience engagement specialist. Originally agreed to in July, Electric Guitar says the acquisition includes 3radical’s 3radical Voco SaaS platform, which can gather data ‘critical for marketing and for providing a compelling customer experience, optimising communications, designing products and services, and, ultimately, driving revenues’. Following completion, Electric Guitar’s shares have been transferred to trading on the AIM market from the LSE Main Market. CEO John Regan says: ‘3radical not only brings us an existing global client base for its own enterprise SaaS solution, but also paves the way for collaborations with other potential acquisitions, especially using AI techniques. We are confident that our combined strength will allow us to grow the business, succeed in the dynamic digital marketplace, and create value for our loyal and new shareholders.’ Shares in Electric Guitar drop 8.1% at 1.84 pence in London on Friday.
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