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Pin to quick picksInspiration Hlt Share News (IHC)

Share Price Information for Inspiration Hlt (IHC)

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Share Price: 24.50
Bid: 24.00
Ask: 25.00
Change: 4.00 (19.51%)
Spread: 1.00 (4.167%)
Open: 20.50
High: 26.50
Low: 20.50
Prev. Close: 20.50
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AIM WINNERS & LOSERS: Trinity up after agreeing to Touchstone takeover

Wed, 01st May 2024 10:16

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

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AIM - WINNERS

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Trinity Exploration & Production PLC, up 50% at 54.00 pence, 12-month range 35.00p-99.00p. The Trinidad & Tobago-focused oil exploration and production company said it had reached an agreement on an all-share takeover by Touchstone Exploration Inc. Under the terms of the acquisition, Trinity shareholders will be entitled to receive 1.5 new Touchstone share for each Trinity share. This equates to approximately 58.3 million shares, and will give Trinity shareholders a roughly 20% stake in Touchstone following completion. Based on Touchstone's Tuesday closing price of 41.25 pence, this represents an implied value of 61.9p per Trinity shares, a 72% premium to Trinity's Tuesday closing price, and values the entire company's share capital at GBP24.1 million. Trinity says that 39% of shareholders have so far indicated their support of the acquisition and entered into irrevocable undertakings to vote in favour of the scheme. Both companies believe that the deal will create a "leading Trinidadian operator of scale" with a combined producing portfolio of between 11,700 and 12,400 barrels of oil equivalent per day. Trinity's directors therefore intend to unanimously recommend that shareholders vote in favour of the scheme at a general meeting, set to be held by the end of May.

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Altitude Group PLC, up 16% at 36.50p, 12-month range 27.50p-52.00p. The Sheffield-based operator of a marketplace for the promotional products industry says it experienced another strong year of trading. As a result, the company expects to "at least" meet consensus expectations for the financial year ended March 31. Consensus forecasts for Altitude are currently GBP26.1 million in revenue and GBP2.2 million in adjusted earnings before interest, tax, depreciation and amortisation. In the previous financial year, Altitude delivered GBP18.8 million in revenue, GBP2.0 million in adjusted operating profit and GBP152,000 in pretax profit. Altitude adds that its Merchanting and Services divisions continue to grow, with the latter outperforming the wider promotional products industry. The company is scheduled to publish its annual results on July 30.

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AIM - LOSERS

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Inspiration Healthcare Group PLC, down 42% at 18.05p, 12-month range 18.05p-56.00p. The Crawley, England-based medical technology provider says a material export order due for the end of January remains outstanding. The company still expects to receive the order, though is unable to speculate on the timing of the delivery. As a result of the delay, Inspiration Healthcare has been in discussions with its bank regarding covenant tests of its debt facility, and received a waiver from its lender in this respect. Alternative covenants have been agreed until April 2025, which will need to be met ahead of any further drawdowns of its revolving credit facility. The company is also investigating alternative financing options. Aside from the delayed delivery, Inspiration Healthcare says that trading in its first quarter has remained challenging, and expects underlying growth for the full financial year to be mid-single digits.

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By Hugh Cameron, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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2 Oct 2019 10:38

Revenue and earnings rise as Inspiration Healthcare expands

(Sharecast News) - Medical device company Inspiration Healthcare reported a 9% improvement in revenue to £8.1m in its interim results on Wednesday, in line with its expectations.

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2 Oct 2019 10:30

Inspiration Healthcare Interim Profit Drops On Higher Costs

Inspiration Healthcare Interim Profit Drops On Higher Costs

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5 Sep 2019 14:11

Inspiration Healthcare To Buy Vio For GBP4 Million Using Placing Funds

(Alliance News) - Inspiration Healthcare Group PLC on Thursday said it has agreed to acquire medical equipment product maker Vio Holdings Ltd for GBP4.0 million, funded through a is the holding 31

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15 Aug 2019 11:16

Inspiration Healthcare Interim Trading Expected To Match Expectations

(Alliance News) - Medical technology firm Inspiration Healthcare Group PLC said Thursday its first half has "started well" and it expects its results to be in line with financial 2019, I

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15 Aug 2019 08:21

Inspiration Healthcare trades in line after good start to the year

(Sharecast News) - Medical technology company Inspiration Healthcare said its current trading year had started "well" with results for the six months ending on 31 July expected to be in line with expectations.

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27 Jun 2019 14:30

Inspiration Healthcare Trading Consistent With "Healthy" Order Book

(Alliance News) - Inspiration Healthcare Group PLC said Thursday the company's trading in the new financial year has been in line with management expectations.Speaking at the medical on

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28 May 2019 12:15

Inspiration Healthcare Investee Company NPXe Cancels London IPO Plan (ALLIPO)

LONDON (Alliance News) - Medical technology provider Inspiration Healthcare Group PLC said Tuesday investee NPXe PLC is is no longer planning a London float.NPXe, formerly known as Ltd, its

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23 Apr 2019 10:33

Three AIM firms celebrate Queen's Award for Enterprise wins

(Sharecast News) - Three firms trading on London's AIM market were celebrating wins in the Queen's Award for Enterprise on Tuesday, with Inspiration Healthcare, Ergomed and Oxford BioDynamics all picking up the accolades.

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20 Mar 2019 14:37

Inspiration Healthcare Certified To New Medical Device Audit Programme

LONDON (Alliance News) - Medical device company Inspiration Healthcare Group PLC said on Wednesday that it has been certified to the new Medical Device Single Audit Programme.The will allow

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14 Mar 2019 11:32

Inspiration Healthcare lands record warming systems order

(Sharecast News) - Inspiration Healthcare on Thursday agreed financial terms to ship almost 500 AlphaCore5 Patient Warming Systems to Poland's largest non-governmental, and non profit charity, via its local distributor.

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14 Mar 2019 11:23

Inspiration Healthcare Receives Largest Order For Warming Systems

LONDON (Alliance News) - Medical device firm Inspiration Healthcare Group PLC said on Thursday it has agreed on financial terms for the shipment of around 500 Alphacore5 Patient Warming Systems to

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22 Feb 2019 09:53

Inspiration Healthcare Expects Revenue Drop On Difficult Environment

LONDON (Alliance News) - Inspiration Healthcare Group PLC said Friday it performed well in financial 2018, despite a "difficult environment".The medical technology supplier to of

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22 Feb 2019 09:13

Inspiration performs well amid 'difficult' trading environment

(Sharecast News) - Global medical device company Inspiration Health told investors on Friday that it had continued to perform well despite a "difficult" trading environment.

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18 Dec 2018 10:07

Inspiration Healthcare signs exclusive agreement with US university

(Sharecast News) - Medical device company Inspiration Healthcare has signed an exclusive agreement with a major US-based university for the worldwide rights to develop and commercialise a patented respiratory device designed for use in neonatal intensive care.

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7 Dec 2018 12:39

Inspiration Healthcare Investee's Float On AIM Delayed (ALLIPO)

LONDON (Alliance News) - Inspiration Healthcare Group PLC on Friday said the initial public offering process of its investee NeuroproteXeon Ltd continues, although it is expected to occur later a

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