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Pin to quick picksInfra.india Share News (IIP)

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AIM WINNERS & LOSERS: Safestyle expects full-year profitability hit

Tue, 29th Nov 2022 11:16

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

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AIM - WINNERS

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Infrastructure India PLC, up 39% at 0.49 pence, 12-month range 0.26p - 1.00p. Announces an update of the sale of Indian Energy Ltd. The India-focused infrastructure fund now expects proceeds from the sale to be received during December, following a request from the buyer for additional time to complete the transaction. Says it has expressed concern to the buyer, AVSR Constructions, over the "continued" delays and has "opened dialogue" with other interested parties in regards to the asset. It is also discussions with third parties regarding the sale of further assets, including Distribution Logistics Infrastructure Ltd.

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Craven House Capital PLC, up 16% at USD0.10, 12-month range USD0.060 - USD0.56. In the year ended May 31, reports a significantly narrowed pretax loss of USD236,000, from a loss of USD2.4 million the previous year. Explains the valuation of its four portfolio companies remained unchanged during the year and notes "positive progress" in each. Expects advertising revenue for its Rosedog and Garimon investment to begin in 2023. Notes the brain tumour drug of its Honeydog investment is approaching the end of its clinical trials. Adds it is in negotiations for sales and distribution agreements for the heart drug and dietary supplement of investee Bio Vitos Medical. Declares no dividend for the year.

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AIM - LOSERS

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Safestyle UK PLC, down 16% at 25.93 pence, 12-month range 20.30p - 55.05p. Says order intake in the period from late September to the end of October has been "volatile". Blames this on political and economic news which it says has had an "adverse impact" on consumer confidence. Order intake in the period is 7.6% behind expectations and 2.7% behind the prior year. This will result in lower installation volume levels than expected, it adds. Further, the replacement window and door retailer says it is experiencing higher costs of acquisition than forecasts. Safestyle expects all this to "significantly" impact full-year profitability.

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Shearwater Group PLC, down 21% at 90.00 pence, 12-month range 70.00p - 155.00p. In the six months ended September 30, reports a significantly widened pretax loss of GBP1.6 million, from a loss of GBP518,000 the previous year. Blames this on the impact of weaker sterling against the US dollar during the first half. Chief Executive Phil Higgins adds that the firm's financial year is also traditionally weighted to the second-half. Revenue ticks up slightly to GBP10.7 million from GBP10.6 million thanks to "new client wins and successful contract renewals". Higgins says: "With good visibility of revenues and an expanded, global footprint, there is growing momentum across the group as we move into a more favourable macroeconomic environment in H2, with confidence levels higher than they were this time last year."

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By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
6 Sep 2023 20:34

IN BRIEF: Infrastructure India agrees USD10 million equity asset sale

Infrastructure India PLC - infrastructure fund investing directly into assets in India - Agrees conditional USD10 million sale of its 99.99% interest in Distribution Logistics Infrastructure Ltd and its subsidiaries to Pristine Malwa Logistics Park Private Ltd, a wholly-owned subsidiary of Pristine Logistics & Infraprojects Ltd. Consideration also includes up to 33% of Pristine Malwa's issued share capital. The Pristine Group provides end-to-end multi cargo logistics solutions, and services including port handling, road and rail transport, warehousing, shipping, stevedoring, customs handling, and integrated logistics in India and Nepal.

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31 Aug 2023 19:45

TRADING UPDATES: Infrastructure India extends maturity dates on debt

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

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31 Aug 2023 14:52

Infrastructure India extends debt facilities as it looks to sell asset

(Sharecast News) - Infrastructure India (IIP) announced an extension to the maturity dates of its debt facilities on Thursday in a bid to allow it more time to sell its biggest asset, with the extension first applying to the term loan originally announced in April 2019.

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31 Jul 2023 17:31

TRADING UPDATES: MGC Pharmaceuticals granted psilocybin import permit

(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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27 Jun 2023 13:30

IN BRIEF: Infrastructure India extends maturity dates on debts

Infrastructure India PLC - India-focused infrastructure fund - Announces that it has agreed to an extension to the maturity dates of all its debt facilities. These debt facilities include the term loan by IIP Bridge Facility LLC, originally announced in April 2019, carrying an interest rate of 15% per year, which has interest accrued of approximately USD76 million; the working capital loan provided by GGIC Ltd which has interest accrued of approximately USD25 million and an interest rate of 15% per year, and was originally announced in April 2013; and finally the unsecured bridging loan originally provided in June 2017 by Cedar Valley Financial with an interest rate of 12% per year and interest accrued of approximately USD52 million.

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2 Jun 2023 19:36

IN BRIEF: Infrastructure India extends loan maturity date with IIP

Infrastructure India PLC - India-focused infrastructure fund - Agrees an extension to the maturity date of the term loan provided by IIP Bridge Facility. The Term Loan is a USD119 million principal secured facility and was originally announced in April 2019. Says the maturity date of May 31 has been extended to June 30. Adds IIP is engaged in discussions with several third parties regarding the potential sale of its largest asset, Distribution Logistics Infrastructure Ltd, although no definitive agreements have been signed. Explains the maturity extension enables IIP to continue working towards completing a transaction.

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17 Apr 2023 16:34

TRADING UPDATES: Anglo Asian gold output down; Faron hails antibody

(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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17 Apr 2023 11:49

Infrastructure India increases and extends loan facility

(Sharecast News) - Infrastructure India (IIP) announced an $8m increase to its term loan with IIP Bridge Facility on Monday.

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4 Apr 2023 11:22

Infrastructure India agrees $4m sale of Indian Energy subsidiary

(Sharecast News) - Infrastructure India announced on Tuesday that it has agreed to sell Indian Energy Limited (IEL) to FA Power Renewables for $4m.

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30 Mar 2023 16:22

Infrastructure India extends term loan facility by one month

(Sharecast News) - Asset investor Infrastructure India announced an extension to the maturity date of a term loan provided by IIP Bridge Facility on Thursday.

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30 Mar 2023 11:45

Infrastructure India extends loan maturity date by one month to April

(Alliance News) - Infrastructure India PLC on Thursday said it agreed an extension to the maturity date of the term loan provided by IIP Bridge Facility LLC, an affiliate of GGIC Ltd to May 1 from April 1.

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30 Mar 2023 11:30

AIM WINNERS & LOSERS: Trackwise falls as loss wider, cash runway short

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

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10 Feb 2023 20:11

IN BRIEF: Infrastructure India confirms has entered no deals for DLI

Infrastructure India PLC - closed-ended investment company focused on assets in India - Notes the recent movement in its share price and the press speculation in connection to its stake in investee Distribution Logistics Infrastructure Pvt Ltd. Confirms that no definitive agreements have been signed, although it engaged in discussions with several parties, including advanced discussions with Pristine Logistics & Infraprojects Ltd.

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18 Jan 2023 15:49

UK shareholder meetings calendar - next 7 days

Thursday 19 January 
Cardiff Property PLCAGM 
Equipmake Holdings PLCAGM
J Smart & Co (Contractors) PLCAGM
Pioneer Media Holdings IncAGM
Scotgold Resources LtdAGM
Friday 20 January 
Appreciate Group PLCGM re acquisition by PayPal Holdings Inc and Court Meeting 
Character Group PLCAGM
Monday 23 January 
Midatech Pharma PLCGM re proposed acquisition of Bioasis Technologies Inc
Tuesday 24 January 
C4X Discovery Holdings PLCAGM
Smiths News PLCAGM
Wednesday 25 January 
City of London Group PLCGM re proposed share distribution and cancellation
Doric Nimrod Air One LtdEGM re special resolution to disapply the pre-emption rights
Infrastructure India PLCAGM
Lowland Investment Co PLCAGM
Majedie Investments PLCAGM
Majedie Investments PLCGM re appointment of the new investment manager
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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21 Dec 2022 16:52

LONDON MARKET CLOSE: Stocks higher as UK retail gets boost from Nike

(Alliance News) - Stock prices in London closed in the green on Wednesday, with the FTSE 100 lifted by retail stocks getting a boost from strong quarterly figures from US sportswear brand Nike in a positive read-across.

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