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Pin to quick picksKooth Plc Share News (KOO)

Share Price Information for Kooth Plc (KOO)

London Stock Exchange
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Share Price: 307.00
Bid: 304.00
Ask: 310.00
Change: 7.00 (2.33%)
Spread: 6.00 (1.974%)
Open: 298.00
High: 308.00
Low: 300.00
Prev. Close: 300.00
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AIM WINNERS & LOSERS: Alba wins permits; Aptamer cash-strapped

Tue, 04th Jul 2023 10:32

(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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Alba Minerals Resources PLC, up 53% at 0.17 pence, 12-month range 0.090p- 0.23p. The northern Europe-focused mineral explorer wins ecological permits required for its planned dewatering and exploration of the primary target within the Clogau-St David's gold mine in north Wales. Says technical team and contractors are preparing the site to begin dewatering as soon as possible. "Detailed planning has been in train for some time so that we did not lose time once the permits were granted. Accordingly, we are well placed to complete our preparations on site and commence the dewatering exercise within a matter of days," says Executive Chair George Frangeskides.

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Kooth PLC, up 28% at 333.00p, 12-month range 107.00p-358.00p. The digital mental health platform wins a four-year contract worth USD188 million in California. Says it will provide services to the Behavioural Health Virtual Services Platform, a technology-enabled services solution for all children and young people in California. The service is expected to launch in January 2024. The contract will result in a "material" update to previous revenue guidance, now expecting not less than GBP34 million for 2023, up 69% from GBP20.1 million in 2022. Intends to hire over 200 staff in the next twelve months to support its Californian and broader US infrastructure. To fund this, proposes share placing at 300p per share to raise up GBP10 million.

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AIM - LOSERS

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Aptamer Group PLC, down 35% at 4.40p, 12-month range 3.01p-100.0p. The custom affinity binder developer warns it is running low on cash, with cash balance at the end of June standing at just GBP200,000. Consequently, requires short-term funding, and is reviewing "all possible financing options that are in the best interests of the company and its shareholder". Also reports decline in annual revenue, expecting around GBP1.8 million in the financial year ended June 30, which would be down 55% from GBP4.0 million the year before.

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Restore PLC, down 30% at 160.20p, 12-month range 160.0p-466.0p. The provider of digital and information management and lifecycle services says profit is likely to be below expectations, as its chief executive leaves with immediate effect. Says adjusted pretax profit in 2023 will be lower than the GBP31 million that is expected. Adjusted pretax profit in 2022 amounted to GBP41.0 million, so it expects a decline of roughly a quarter or more. Plans to cut permanent staff headcount by 230, in roles across senior managers, sales, support functions and operations. CEO Charles Bligh stands down by "mutual consent", with Senior Independent Director Jamie Hopkins taking the helm on an interim basis. Additionally, Chair Sharon Baylay-Bell becomes executive chair, also with immediate effect.

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By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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26 Mar 2024 18:05

EARNINGS AND TRADING: Kooth revenue surges; Flowtech cuts dividend

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22 Jan 2024 14:00

US expansion driving growth for Kooth

(Sharecast News) - Digital mental health service provider Kooth said in a trading update on Monday that it anticipated its 2023 revenue to reach £33.3m, representing year-on-year growth of around 65%.

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22 Jan 2024 11:34

Kooth eyes full-year revenue growth despite headwinds in UK market

(Alliance News) - Kooth PLC on Monday said it expects annual revenue to jump 65%, despite headwinds in its UK market.

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9 Jan 2024 14:13

Kooth launches youth mental health platform in California

(Sharecast News) - Digital mental wellbeing specialist Kooth announced the launch of its digital mental health platform and mobile app in California on Tuesday, under the name 'Soluna'.

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9 Jan 2024 11:27

IN BRIEF: Kooth celebrates launch of mental health app in California

Kooth PLC - London-based digital mental health platform - Confirms the launch of its digital mental health platform and mobile app, Soluna, in California, US, on January 1. Explains that Soluna offers California's six million 13 to 25-year-olds "free access to one-to-one professional support, self-guided tools, content, and activities, and peer support communities moderated by trained behavioural health professionals". The contract has an expected value of USD188 million through to June 2027, with possible revenue upside based on usage levels and product development.

Read more
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4 Jul 2023 11:55

UPDATE: Kooth raises GBP10 million in placing; signs contract

(Alliance News) - Kooth PLC's shares jumped on Monday after it announced it completed a placing of 3.3 million shares, raising gross proceeds worth an estimated GBP10 million through the issue of new shares at a price of 300 pence each.

Read more
4 Jul 2023 10:57

CORRECT: Kooth wins contract; proposes GBP10 million placing

(Correcting issue price of placing shares.)

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4 Jul 2023 10:00

Kooth signs USD188 million contract; proposes GBP10 million placing

(Alliance News) - Kooth PLC's shares jumped on Monday after it announced that it had signed a four-year contract worth USD188 million in California, and proposed a placing worth an estimated GBP10 million.

Read more
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(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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Polarean shares down despite narrowed annual loss and optimism

(Alliance News) - Polarean Imaging PLC shares were down on Friday despite slimming its annual loss, as the company said it now will focus on gaining commercial traction and exploring further financing for its newly US Food & Drug Administration-approved Xenoview device.

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CORRECT (Apr 4): Kooth revenue up amid new contracts, loss widens

(Correcting reason for Kooth PLC's revenue increase and value of contract.)

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Kooth contract with Pennsylvania drives annual revenue; loss widens

(Alliance News) - Kooth PLC on Tuesday said its revenue for the year ended December 31 rose amid business opportunities in the US, but administrative expenses led to its loss widening.

Read more

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