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Pin to quick picksMinoan Share News (MIN)

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Share Price: 0.75
Bid: 0.70
Ask: 0.80
Change: 0.025 (3.45%)
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TRADING UPDATES: Asimilar and Worldsec swing to profit

Fri, 30th Apr 2021 16:32

(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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Asimilar Group PLC - investment firm focused on big data, machine learning, telematics and the internet of things - For the six months ended March 31, swings to pretax profit of GBP23.4 million from loss of GBP565,583 the year before, through a gain of GBP21.8 million following the remeasurement of assets to fair value. Revenue remained unchanged year-on-year at GBP7,000. For the year ended September 30, 2020, company swings to pretax profit of GBP392,329 from loss of GBP731,784, while revenue remains flat at GBP14,000.

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Worldsec Ltd - South East Asia-focused investment company - For 2020, swings to pretax profit of USD944,000 from loss of USD704,000 the year before, due to a positive change in the fair value of the group's holdings in Homaer Class D shares driven by an increased value of the investment in Bytedance. Revenue however declined 31% year-on-year to USD96,000 from USD140,000, due to a lack of interest income.

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UP Global Sourcing Holdings PLC - Oldham, Greater Manchester-based consumer brands owner trading as Ultimate Products - For the six months ended January 31, pretax profit up 19% at GBP7.2 million from GBP6.0 million the year before, on revenue which grew 11% year-on-year to GBP75.4 million from GBP67.7 million, due to strong performances from Supermarkets and the group's online business. Declares interim dividend of 1.69 pence per share, up 46% from 1.16p the prior year. Looking ahead, expects annual underlying pretax profit in excess of GBP10.8 million, and revenue to be in excess of GBP135 million, up from GBP115.7 million the prior year.

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FireAngel Safety Technology Group PLC - Coventry-based home safety products maker - For 2020, pretax loss narrows at GBP9.3 million from GBP11.0 million the year before, in spite of 12% decline in revenue to GBP39.9 million from GBP45.5 million, driven by a fall in sales due to the effect of Covid-19 lockdowns on customer demand. Looking ahead, targets improved performance for 2021 following a good start to the year. FireAngel is looking to raise GBP9.8 million through a placing of 51.4 million shares at 18p each and GBP6.9 million via an open offer on the basis of 10 new shares for every 33 existing shares held. Proceeds will go towards funding research and development to accelerate new products. Appoints Zoe Fox, finance director of subsidiary FireAngel Safety Technology Ltd has been appointed group chief financial officer, replacing Jon Kempster.

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Blackstone Loan Financing Ltd - floating rate senior secured loans and bonds investment fund - As at December 31, net asset value per share up at EUR0.8557 from EUR0.8543 the same date the year before. Share price at the end of 2020 was EUR0.67 reflecting a 22% discount to net asset value. Declares dividend of EUR0.07 per share, down from EUR0.10 the prior year.

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Keystone Positive Change Investment Trust PLC - invests in UK stocks - For six months ended March 30, net asset value total return is minus 0.9%, compared to a positive 14.2% total return from the comparative index, comprising the FTSE All-Share index up to February 10 and the MSCI All Country World Index afterwards. Net asset value per share as at March 31 at 297.39 pence, down from 305.80p at the end of September 2020.

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Westminster Group PLC - Banbury-based security services provider - For 2020, pretax loss narrows to GBP761,000 from GBP1.3 million due to a drop in administrative expenses, despite a dip in revenue to GBP9.9 million from GBP10.9 million, due to a considerable decline in Managed Services. Looking ahead, outlook for 2021 is positive following a strong start. Expects pretax profit and revenue for 2021 to meet market expectations.

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AIQ Ltd - Cayman Islands-based firm focused on acquiring and developing e-commerce sector businesses - For year ended October 31, net loss widens to GBP3.6 million from GBP500,000 the year before, following the writing off of the investment in Alchemist Codes Sdn Bhd, which was acquired in March 2020. However, generates revenue of GBP154,649 from none the prior year, due to the sale of software products and maintenance income. Looking ahead, will focus on completing strategic review to assess the viability of Alchemist Codes.

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Tekcapital PLC - UK intellectual property investment company - As at November 30, net assets rise 45% year-on-year to USD32.7 million from USD22.5 million the same date the year before, as the value of the group's portfolio rises to USD30.5 million from USD20.3 million. For the year, pretax profit rises to GBP7.7 million from USD7.7 million from USD5.5 million, driven by revenue growth to USD9.9 million from USD7.7 million.

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Minoan Group PLC - developer of a holiday resort in Greece - For year ended October 31, pretax loss narrows to GBP876,000 from GBP2.1 million, due to the cancellation of warrants, leading to a credit rather than a charge for share-based payments. Looking ahead, has continued to prepare and progress the project in Crete, refinancing its indebtedness during the period.

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Greencare Capital PLC - cannabis sector-focused investment firm - for the 13 months ended October 31, posts pretax loss of GBP427,000. During period, makes two investments into Clearly Supplements Ltd and Voyager Life Ltd. Looking ahead, expects significant growth from the CBD sector in the short term.

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Honeycomb Investment Trust PLC - London-based investor in credit assets originated by non-bank lending platforms - As at December 31, net asset value per share dips to 1,013 pence from 1,015p the same date the year before, while net assets dropped to GBP357.2 million from GBP400.4 million. Declares dividend of 80.0p per share, in line with the year before.

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Scotgold Resources Ltd - gold exploration and production company focused on Scotland - For the six months ended December 31, pretax loss widens to AUD2.4 million from AUD1.3 million the year before, due to lower interest income and a lack of grants received in the prior year. Looking ahead, expects output from Cononish project for calendar year 2021 to be less than company's guidance range, as ramp up of underground mining production is set to be slower than originally planned.

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Midatech Pharma PLC - Cardiff-based drug delivery technology company - For 2020, pretax loss widens to GBP23.5 million from GBP10.9 million the year before, following a GBP12.4 million impairment charge after terminating the development of MTD201 and goodwill arising from the acquisition of Q Chip Ltd in 2014. Revenue meanwhile declined 49% year-on-year to GBP343,000 from GBP674,000.

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Iconic Labs PLC - London-based media and technology business - For the six months ended December 31, pretax loss widens to GBP934,707 from GBP762,130 a year prior due to rising consulting, legal and professional costs, more than offsetting sharp growth in revenue to GBP496,052 from GBP2,500 through the supply of management services to business partners.

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Hemogenyx Pharmaceuticals PLC - London-based biotechnology company - For 2020, pretax loss widens to GBP2.1 million from GBP1.5 million the year before, due to higher administrative costs, particularly in legal feels and laboratory expenses. Generates no revenue, in line with the prior year.

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Wildcat Petroleum PLC - seeking investment opportunities in upstream petroleum - For period from January 8 to Dec 31, posts maiden pretax loss of GBP67,000, due to administrative and listing costs. Looking ahead, reports progress in sourcing a potential oil asset.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
23 Apr 2024 14:29

UK shareholder meetings calendar - next 7 days

Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
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Bunzl PLCAGM
Coro Energy PLCAGM
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Primary Health Properties PLCAGM
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Synectics PLCAGM
Thursday 25 April 
AFC Energy PLCAGM
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
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Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
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Friday 26 April 
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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.

Read more
8 Mar 2024 13:55

EXECUTIVE CHANGES: Ethernity chair stays on, Picton director to quit

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Friday and not separately reported by Alliance News:

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5 Jan 2024 10:33

IN BRIEF: Minoan Group upgrades forecast for Cavo Sidero project

Minoan Group PLC - developer of hotel resort projects in Crete - Expects annual revenue from its planned Cavo Sidero resort to be "considerably in excess of EUR100 million". This is based on an updated business plan for the project, prepared with the help of property agent Savills PLC, that takes into account recent increases in room rates at high-end tourist resorts. Cavo Sidero sits on a peninsula facing the Mediterranean, and Minoan is permitted to build 108,000 square metres of space in five locations for hotels and resorts. Minoan says it continues to talk to the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani about being granted an 'epifania', equivalent to a 99-year ground lease, for the project. In the meantime, Minoan is moving ahead on the basis of its existing contract. It is preparing an environmental study, which is required before building.

Read more
10 Nov 2023 16:18

IN BRIEF: Minoan in discussions over deal for Itanos Gaia hotel, Crete

Minoan Group PLC - Croydon, England-based developer of the Itanos Gaia resort hotel project in Crete - Says it is in "frequent discussions" with the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani on an updated agreement for the company's Itanos Gaia project. Says: "The company will update shareholders regularly on progress towards a conclusion. Alongside this, the team is moving forward with the environmental studies required as part of the final planning process. Both actions are assisting in the discussions on the final format and shape of the initial agreement with the first of the hotel groups." Says as part of ongoing commercial activities, it has had a number of discussions in recent weeks regarding third parties taking "meaningful interests" in the project. Says: "These discussions are being actively pursued and, if successful, the company will make the appropriate announcements in due course."

Read more
3 Nov 2023 15:46

UK shareholder meetings calendar - next 7 days

Monday 6 November 
Plaza Centers NVAGM
Tuesday 7 November 
Time Finance PLCAGM
Wednesday 8 November 
Incanthera PLCAGM
Thursday 9 November 
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Libertine Holdings PLCAGM
SIMEC Atlantis Energy LtdEGM re appointment of Nexia Singapore PAC as auditors
Friday 10 November 
DFS Furniture PLCAGM
Galliford Try Holdings PLCAGM
Minoan Group PLCAGM
Minoan Group PLCGM re issuing shares
Quartix Technologies PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
18 Oct 2023 10:56

IN BRIEF: Minoan schedules meeting to help settle loan and liabilities

Minoan Group PLC - Croydon, England-based developer of the Itanos Gaia resort hotel project in Crete - Says re-convened annual general meeting to consider accounts for the year ended October 31 will be held on November 10. Company will hold a general meeting on the same day. Will propose two resolutions regarding authority to issue shares to DAGG LLP, having said in late August it will issue 70.7 million shares at 1 pence each to DAGG to clear half of a GBP1.4 million loan. Minoan will also request authority to issue up to 120 million shares at 2p each on average, to settle up to GBP2.8 million of balance sheet liabilities. Says this will improve the balance sheet's security and prepare Minoan for the next stage of development. Chair Christopher Egleton says prioritising liability reduction "demonstrates in a real way that the company and the Itanos Gaia project...are currently significantly undervalued."

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29 Aug 2023 13:40

IN BRIEF: Minoan issues shares to clear half of loan, gets extension

Minoan Group PLC - developing Itanos Gaia resort hotel project in Crete, Greece - Issues 70.7 million new shares at 1 pence each, an 11% premium to Friday's closing price, to DAGG LLP to clear GBP707,231 of the GBP1.4 million loan owed to DAGG. The remainder of the loan will be extended to December 31, 2024 at the same interest rate of 10%. For this, Minoan will pay a fee of GBP175,000, which will be added to the loan principal. DAGG will have warrants for 35.0 million Minoan shares reinstated at an exercise price of 1.1p. DAGG also will be given the right to name one director to the Minoan board.

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1 Aug 2023 14:32

Minoan to collaborate with unnamed luxury group on Crete hotels

(Alliance News) - Minoan Group PLC on Tuesday said it has agreed to work with an unnamed "major international" luxury hotel group on one or more of Minoan's hotels in the Itanos Gaia project in Crete, Greece.

Read more
31 Jul 2023 14:36

EARNINGS UPDATES: Kropz annual loss widens on impairments

(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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28 Apr 2023 12:23

IN BRIEF: Minoan annual loss widens as costs rise

Minoan Group PLC - London-based Greek hotel investor - Pretax loss widens to GBP1.1 million for the year ended on October 31, from GBP749,000 the year before. Says this is due to increased loan interest charges. Operating costs rise to GBP541,000 from GBP511,000. Net assets as at October 31 increase to GBP42.7 million from GBP42.4 million a year earlier. Makes no revenue for the year. Adds that the continuing constructive discussions with the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani are not impeding progress on the Itanos Gaia Project in Crete.

Read more
21 Apr 2023 15:49

UK shareholder meetings calendar - next 7 days

Monday 24 April 
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Tuesday 25 April 
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
5 Jan 2023 14:50

IN BRIEF: Minoan expects to conclude debt discussion shortly

Minoan Group PLC - London-based Greek hotel investor - Expects to conclude "constructive" discussions over its secured debt with DAGG LLP "shortly". Says it will update shareholders in due course. Also expects to provide an update on the progress of discussions regarding the commercial and financial activities of the Itanos Gaia project in Crete.

Read more
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AIM WINNERS & LOSERS: Live Co drops on expectations of annual loss

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TRADING UPDATES: Silverwood finishes acquisition; Hardide names chair

(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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TRADING UPDATES: Bidstack names new COO; Fintel expands deal

(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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