Edison Investment Research

ReNeuron Group (RENE); expands intellectual property estate via key patent grants

Patents granted in China, Korea, Japan and Europe

ReNeuron Group has expanded its intellectual property estate through the grant of several key patents covering its exosome technology platform. These new patents have been recently issued covering ReNeuron’s neural stem cell-derived exosomes and their methods of production. Following these patent grants, ReNeuron’s patent estate consists of over 40 patents globally, covering its cell-based therapies and exosome technology.

WANdisco (WAND); partners with Databricks for data migration

WANdisco announced a partnership with analytics firm Databricks to aid in the migration of on-premises analytics workloads to Azure Databricks. Azure Databricks is an Apache Spark-based engineering and machine-learning platform offered by Microsoft as an integrated first-party service.

Marble Point Loan Financing (MPLF) announced an additional Sterling quotation on LSE

Marble Point Loan Financing Limited announced its intention to introduce an additional market quotation in Sterling for its ordinary shares traded on the Specialist Fund Segment of the London Stock Exchange’s (LSE’s) Main Market. This quotation will operate along with the existing US Dollar (USD) quotation for ordinary shares.

Mission Marketing (TMMG); expects results to be in line with KPI targets

The company issued a trading update for the six months ended 30 June 2019

Mission Marketing expects results for the first half of the year to be in line with its KPI targets of revenue growth at 5% and profit growth of 10% from continuing operations, excluding the sale of BroadCare.

Sports Direct International (SPD); offer update regarding GAME Digital

As of 1:00pm on 12 July 2019, Sports Direct owned, agreed to acquire, or received valid acceptances in respect about 83.88% of GAME's entire issued share capital

As of 1:00pm (London time) on 12 July 2019, Sports Direct International received valid acceptances in respect of GAME Digital’s shares, representing about 45% of GAME’s existing issued share capital.

Telford Homes (TEF); announces posting of Scheme Document

Telford Homes has announced that the Scheme Document containing the full terms and conditions of the acquisition for the entire issued and to-be issued share capital of Telford Homes by CBRE was made available on the company’s website and is being posted to Telford Homes Shareholders. The agreement was reached between the two companies on the terms of this recommended cash acquisition on 3 July 2019.

GAME Digital (GMD); issues 3,707,982 ordinary shares of 1p each to satisfy exercise of options

GAME Digital announced that an application has been made for 3,707,982 ordinary shares of 1p each in the company’s capital to be admitted to the Official List of the Financial Conduct Authority and for trading on the London Stock Exchange’s main market for listed securities. The admission is likely to occur on 15 July 2019.

Palace Capital (PCA); provides an update on Hudson Quarter development

Construction is currently on time and on budget

Palace Capital has provided a short update on its Hudson Quarter development in York ahead of its AGM later today. Interest has been stronger than expected, reflecting the quality of the product and the buoyancy of the York market. Presently, 22 apartments, with an aggregate acquisition price of £5.8m, have been reserved with deposits paid.

Lookers (LOOK); expects underlying PBT of about £32m for H1 2019

The group’s balance sheet remains strong

Lookers has announced a pre-close trading update ahead of its half-year results for the six months ended 30 June 2019 (H1). Trading for the three months ended 31 March 2019 (Q1) was positive, supported, according to the company, by an outperformance in the UK new car market and growth in turnover and gross profit in used vehicles and aftersales. The group delivered a robust financial performance as well.

Pan African Resources (PAF); gold production up 7.5% to 172,442oz

Barberton Mines achieved 2m fatality free shifts during June 2019.

Pan African Resources issued an operational update for the year ended 30 June 2019. Gold production from the group’s continuing mining operations grew 54.1% to 172,442oz and production from the Barberton complex grew 9.6% to 99,363oz, while underground and surface mining grew 3.1% to 75,356oz. As announced previously, the FY 2020 production guidance will be approximately 185,000oz.