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Share Price: 0.70
Bid: 0.65
Ask: 0.75
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UK TRADING UPDATE SUMMARY: Bagir Says Cash Insufficient To Carry On

Fri, 03rd Apr 2020 11:41

(Alliance News) - The following is a round-up of updates by UK companies on the impact of the Covid-19 pandemic, issued on Friday and not separately reported by Alliance News:

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Bagir Group Ltd - tailor - Trading suspended on AIM as existing orders placed on hold or cancelled by customers, giving limited visibility on future revenue and customer payments. As a result, company does not have enough cash to continue operating as a going concern. Board now assessing options.

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Salt Lake Potash Ltd - potash production - All contact with local Wiluna community in Western Australia ceased. Use of airport unaffected, continues to support business. Off-lake civil construction earthworks at Lake Way Project complete. First revenue expected in first quarter of 2021.

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DP Aircraft I Ltd - aircraft leasing - Suspends the payment of dividends, as discussions ongoing with Norwegian Air on its lease obligations involving two aircraft.

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Cenkos Securities PLC - stockbroker - Defers release of results for 2019 from original date of December 31, but expects to report continued profitability based on strong second half performance. Continuing operations as normal despite staff working remotely.

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Anexo Group PLC - credit hire and legal services - Delays publication of 2019 results in line with UK FCA request. Pretax profit expected to be in line with expectations. Defers decision on 2019 dividend payout, as well as proposed opening of new Leeds office. Performance in 2020 to date in line with expectations.

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Minoan Group PLC - resort development - Project in Crete not "unduly" affected by Covid-19 outbreak, but company's cash position constrained, and in discussions with loan provider for extension or settlement and restatement. Will publish results for year ended October 31 in April.

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Fox Marble Holdings PLC - marble quarrying - Operations in Kosovo deemed essential and allowed to continue, but with operations scaled back to specific projects. Operations in Macedonia significantly scaled back, as demand falls due to travel restrictions in China and Europe. Board to not take salary or fees until operations resume. London head office staff furloughed.

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Ceiba Investments Ltd - investment in Cuban real estate and tourism - Will not declare dividend for 2019, and withdraws guidance for future performance. Investee Miramar SA to close all hotels and substantially decrease its workforce. Investee TosCuba to lower capital expenditure on hotel construction in Trinidad, Cuba

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Clontarf Energy PLC - oil & gas - "High level" discussions over projects in Ghana and Bolivia postponed. In Ghana, ready to initiate Tano 2A work programme once petroleum agreement is signed and funding secured. In Bolivia, holding discussions with new interim government for proposal on medium-sized salt-lakes.

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ReNeuron Group PLC - cell-based therapeutics - Continues internal research projects. Initiates one such programme for utility of company's exosomes in increasing the potency of SARS-CoV-2 coronavirus vaccines. Clinical studies in US now subject to delays.

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SME Credit Realisation Fund Ltd - credit investment - To continue cash return to shareholders on quarterly basis, paying quarterly dividend of 1.3125p per share in May. Delays publication of net asset value as at March 31, and suspends share repurchases until NAV is published. Sale of portion of assets delayed.

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Adriatic Metals PLC - metals exploration - Exploration activity for Vares project in Bosnia & Herzegovina slightly delayed, but ongoing. Pre-development work continues, but considering deferral of pre-feasibility study to allow additional drilling to be added to an updated mineral resource estimate.

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XP Power PLC - critical power components manufacturer - All manufacturing facilities remain operational, as volumes in China recover from February lows, and Vietnam factories operate at normal levels. For first quarter to end of March, revenue up 5% to GBP19.1 million, and orders up 34% to GBP73.1 million. Withdraws final dividend payout of 36p per share.

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MediaZest PLC - audio-visual services - Now expects to report post-tax loss for six months ended March 31, as lockdown measures lead to deferred and delayed projects, taking a toll on trading. Expects Covid-19 disruption to last for six months at a minimum and will work to cut costs, wherever possible.

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Henry Boot PLC - construction - Closes all sales centres and pauses all construction work aside from sites vital to the NHS. Suspends all existing guidance for future performance.

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Intelligent Ultrasound Group PLC - healthcare-focused AI software - Installs BodyWorks Point-of-Care ultrasound simulator alongside Covid-19 lung ultrasound module in NHS Nightingale Hospital at the ExCel exhibition centre in London. The exhibition centre in the Docklands, east London, has been converted into a temporary hospital, with space for 4,000 beds, to treat victims of Covid-19.

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Clipper Logistics PLC - logistics services - Wins contract to establish supply chain for personal protective equipment products delivery to NHS Hospital Trusts and other healthcare providers across the UK.

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Oracle Power PLC - energy development - Anticipates no significant negative impact on the timelines for the development of Thar Block VI in Pakistan.

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OneSavings Bank PLC - mortgage lending - Cancels payment of final dividend for 2019 of 11.2 pence per share.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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28 May 2014 10:41

UK WINNERS & LOSERS: Glaxo Falls As Another Investigation Begins

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.
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28 May 2014 09:36

Minoan Group places 5.7m shares for project development, acquisitions

Minoan Group has placed around 5.7m shares at 12p each to raise funds for general working capital to support the development of its projects and part fund acquisitions. The placing is expected to raise gross proceeds of £687,000. The group also revealed it is in "advanced discussions" with a numbe

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28 May 2014 07:31

Minoan Group Raises GBP687,000 As It Reports Advanced Acquisition Talks

LONDON (Alliance News) - Minoan Group PLC Wednesday said it has raised GBP687,000 before expenses by placing shares with institutional and other investors, as it looks to pursue acquisitions and support its development. In a statement, the AIM-listed travel and leisure company, headquartere

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19 May 2014 15:09

Minoan Group Gets Approval From Greek Ministry Of Culture

LONDON (Alliance News) - Minoan Group PLC Monday said that the Greek Ministry of Culture has approved its Strategic Environmental Assessment for its project in Crete. The travel company said the decision was made after it received unanimous positive opinion of the environmental assessment f

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25 Apr 2014 07:29

UK MORNING BRIEFING: William Hill Leads Weak FTSE 100

LONDON (Alliance News) - UK shares have opened lower Friday on heightened concerns about the standoff in Ukraine.

William Hill said it will close 109 gaming shops in response to the UK government's hike to machine gaming duty, putting 420 employees at risk. William

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3 Apr 2014 09:43

Minoan Receives Local Government Approval For Luxury Resort In Crete

LONDON (Alliance News) - Minoan Group PLC, the travel agency operator, said Thursday that it plans to build a luxury holiday resort in Crete has now also been approved by a regional government of Crete. The travel company is planning a luxury holiday resort on a 26 square kilometre site at

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3 Apr 2014 09:05

Thursday broker round-up UPDATE

Associated British Foods: Citi increases target price from 2350p to 3000p, while its neutral rating remains unchanged. Booker Group: Investec shifts target price from 172p to 178p retaining a buy recommendation. BSkyB: HSBC Holdings moves target price from 600p to 610p, while keeping its underweig

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2 Apr 2014 11:57

UK MIDDAY BRIEFING: Marks & Spencer Unveils Global Growth Plan

LONDON (Alliance News) - Marks and Spencer Group PLC is planning to open 250 new stores outside the UK over the next three years, as part of its global expansion plans.

M&S currently operates a total of 455 stores in 53 territories outside the UK, as well as nin

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2 Apr 2014 10:47

UK WINNERS & LOSERS: Marks & Spencer Rises On Expansion Plans

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.

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FTSE 100 - WINNERS

Marks and Spencer Group, up 2.4%. The retailer has announced that it is planning to ope

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2 Apr 2014 10:31

Minoan Narrows Annual Pretax Loss As Travel And Leisure Business Accelerates

LONDON (Alliance News) - Travel agency operator Minoan Group PLC Wednesday said it has successfully developed its international travel and leisure business, which drove its total transaction value up 37% in its last financial year, and led to the group narrowing its full-year losses. Minoan

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2 Apr 2014 08:48

Wednesday broker round-up UPDATE

Aberdeen Asset Management: Canaccord Genuity reduces target price from 540p to 460p, while its buy recommendation is kept. Anglo American: JP Morgan ups target price from 1260p to 1300p, while leaving its underweight rating unchanged. Aviva: JP Morgan raises target price from 528p to 570p maintain

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21 Mar 2014 12:15

UK MIDDAY BRIEFING: BG Group Set To Benefit From Budget

LONDON (Alliance News) - BG Group Friday said changes to the North Sea investment and tax regime set out in the UK Budget earlier in the week will now allow it to develop its Jackdaw high pressure high temperature project in the North Sea.

According to the Treasury,

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21 Mar 2014 12:00

UK WINNERS & LOSERS: Bookmakers Continue To Fall

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday. ------- FTSE 100 - WINNERS Meggitt, up 1.2%. UBS has upgraded the engineering company to Buy, from Neutral, and increased its price target to 530.00 pen

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21 Mar 2014 09:24

Minoan Says Local Community Support For Crete Project Reaffirmed

LONDON (Alliance News) - Minoan Group PLC Friday said the Local Municipality of Sitia in Crete has reaffirmed its support for its project on the Mediterranean island. The travel company is planning a luxury holiday resort on a 26 square kilometre site at Cavo Sidero in Crete, comprising hol

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17 Mar 2014 12:29

Minoan Group To Add To Travel Businesses

LONDON (Alliance News) - Travel agency operator Minoan Group PLC Monday said it has agreed to acquire Martin Singer Travel, an independent business near Aberdeen Airport, in a deal worth GBP250,000. Minoan said for the year-ended December 2013, Martin Singer posted pretax profit of GBP131,0

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