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AIM WINNERS & LOSERS: PHSC plans share buyback as earnings rise

Thu, 13th May 2021 10:29

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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AIM - WINNERS

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PHSC PLC, up 21% at 17.00 pence, 12-month range 7p-19.9p. Hits this 12-month high earlier on Thursday. The health & safety consulting firm expects revenue of GBP3.3 million for year to March 31, down from GBP4.4 million the year before, but underlying earnings before interest, taxes, depreciation and amortisation expected to rise to GBP520,000 from GBP255,000. Starts share buyback programme worth GBP325,000. "The company's board of directors has decided to effect the buyback programme, in part, due to the additional cash generated and held further to the successful disposal of the company's Essex property in late September 2018 for GBP305,000 gross and in light of the fact that PHSC's closing middle market share price as at May 12, being the latest practicable date prior to this announcement, of 14p represents a significant discount to its net asset value per share," it says.

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Goldstone Resources Ltd, up 19% at 13.80p, 12-month range 2.5p-15.49p. Says mining and ore stacking at the Homase Mine within Akrokeri-Homase gold project, Ghana, has commenced with the first mined ore having been successfully stacked onto the heap leach pad. "This is a pivotal step in the evolution of the company as we start production of the Homase Mine. Commencement of operations will lead to an ongoing revenue stream and will also establish a base for unlocking value in our AKHM project," says Chief Executive Emma Priestley.

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AIM - LOSERS

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Best of the Best PLC, down 14% at 2,665p, 12-month range 556.92p-3,570p. Says revenue and pretax profit for financial year ended April 30 to be in line with market expectations, which were raised in March. Even with Thursday's decline, shares still up 86% since start of 2021 and have grown more than four-fold over past 52 weeks.

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e-Therapeutics PLC, down 11% at 25.53p, 12-month range 1.01p-33p. The drug discovery company reports pretax loss of GBP4.5 million for year to January 31, widening from GBP2.9 million the year before. Widened loss largely due to administrative costs rising to GBP2.1 million from GBP1.2 million, with a management restructure in February 2020 resulting in one-off redundancy costs of GBP400,000. "Although we are not expecting the same level of one-off expenditure, we are expecting the underlying cost base to increase as the business continues to grow," company says.

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Online Blockchain PLC, down 10% at 41.43p, 12-month range 11p-127.5p. The blockchain research and development company falls after Tesla hit the brakes on letting people pay for electric cars with bitcoin, saying the computing-intense mining process of creating new cryptocurrency spews climate-harming emissions. "We are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," Tesla Chief Executive Elon Musk says in a tweet. "Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this can not come at great cost to the environment." The cryptocurrency initially tumbled after Musk's tweet, before recovering slightly to around USD50,773 early Thursday, according to cryptocurrency news outlet Coindesk. Main Market-listed cryptocurrency mining firm Argo Blockchain falls 11%.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
22 Apr 2024 14:45

UK shareholder meetings calendar - next 7 days

Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
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Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
Friday 26 April 
Bellevue Healthcare Trust PLC AGM
Kingspan Group PLCAGM
Me Group International PLCAGM
Pearson PLCAGM
Senior PLCAGM
Smurfit Kappa Group PLCAGM
Monday 29 April 
Goldstone Resources LtdAGM
Hydrogen Future Industries PLCAGM
JPMorgan Claverhouse Investment Trust PLCAGM
KR1 PLCEGM re buying up to 15% of shares in issue
Ocado Group PLCAGM
Secured Property Developments PLCGM re name change to Mollyroe PLC
Symphony International Holdings LtdAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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10 Apr 2024 19:30

IN BRIEF: Goldstone Resources publishes delayed accounts for 2022

Goldstone Resources Ltd - Ghana-focused gold producer and explorer - Publishes accounts for full-year 2022 and the first half of 2023 after a protracted delay. In 2022, pretax loss narrows to USD674,413 from USD1.5 million in 2021, while revenue rises to USD8.9 million from nothing. In the first half of 2023, pretax loss widens to USD3.7 million from USD648,167, while revenue falls to USD245,425 from USD5.3 million. Chief Executive Officer Emma Priestley says: "It is with cautious optimism that I look forward to 2024. 2023 was a difficult period of hard-won lessons, but these lessons will be valuable as we go into [the second half of] 2024."

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10 Apr 2024 15:22

Goldstone Resources raises GBP1.8 million in share subscription

(Alliance News) - Goldstone Resources Ltd on Wednesday said that it has raised GBP1.8 million before expenses via a subscription of 182.0 million new shares at 1 pence each.

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2 Apr 2024 19:02

TRADING UPDATES: Roadside shares suspended; Adnams looks for funds

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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1 Mar 2024 18:29

TRADING UPDATES: Alpha Real Trust says in "robust" financial shape

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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3 Jan 2024 11:39

Goldstone Resources granted loan payment standstill by Asian creditor

(Alliance News) - Goldstone Resource Ltd on Wednesday said it had arranged a standstill agreement with Asia Investment Management Services Ltd regarding the pair's 2020 gold loan agreement.

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16 Nov 2023 17:53

EARNINGS AND TRADING: Integrated Diagnostics returns to profit

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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13 Nov 2023 21:58

TRADING UPDATES: 88 Energy signs farm-in deal with Monitor Exploration

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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31 Oct 2023 16:47

TRADING UPDATES: GreenRoc bullish on asset; Esken eyes Renewables sale

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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2 Oct 2023 14:32

EARNINGS AND TRADING: Alternative Income REIT raises dividend

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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19 Sep 2023 17:30

TRADING UPDATES: AEW UK REIT appoints new chair; Oberon raises money

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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27 Jun 2023 20:08

TRADING UPDATES: Creo Medical sees growing demand for products

(Alliance News) - The following is a round-up of updates by London-listed companies, issued Tuesday and not separately reported by Alliance News:

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31 May 2023 21:08

IN BRIEF: Goldstone Resources "on sound footing" going forward

Goldstone Resources Ltd - Ghana-focused gold producer and explorer - Updates on its mining and production activities at the Homase gold mine in south-western Ghana. Says front-end loaders, tractor and excavators have been delivered to the site with the aim of optimising production. Company invests around USD1.5 million into new and second-hand plant, equipment and components for the second dry plant. Mining production levels forecast for 60,000 tonnes per month of ore.

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5 Apr 2023 11:13

Goldstone shares rise on mineralisation extension at Akrokeri mine

(Alliance News) - Goldstone Resources Ltd on Wednesday said that results from diamond drilling at Akrokeri have affirmed its belief that mineralisation occupies a significant structural corridor, extending to both the south and north of the mine.

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27 Jan 2023 10:42

IN BRIEF: Goldstone issues GBP2.4 million convertible loan notes

IN BRIEF: Goldstone Resources Ltd - West Africa-focused gold development company - Issues GBP2.4 million of convertible loan notes to gold-mines operator Blue Gold International Ltd, which are due for redemption on November 30, 2024. The notes may be converted at any time prior to redemption into new Goldstone shares at a conversion price of 3.25 pence per share. BGL also receives warrants to subscribe for up to 60.0 million Goldstone shares at a price of 4.00p per share, at any time until January 26, 2025.

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