Edison Investment Research

Carclo (CAR); revises strategy in mid-volume vehicle market

To maintain a sustainable platform and in light of ongoing challenges for its LED manufacturer Wipac, the board is reviewing its strategy, in particular the move into the mid-volume vehicle market, which it says is placing significant strain on the group.

Smith & Nephew (SN.); agrees to acquire Atracsys Sàrl for an undisclosed sum

The acquisition is expected to complete in Q3 2019

Smith & Nephew has agreed to acquire Atracsys Sàrl, the Switzerland-based provider of optical tracking technology used in computer-assisted surgery, for an undisclosed sum. According to the company, Atracsys’ fusionTrack 500 optical tracking camera will compliment Smith & Nephew’s multi-asset digital surgery and robotic ecosystem. This will be included, initially, in its next-generation robotics platform due for commercial release in 2020.

Seneca Global Income & Growth Trust (SIGT); reports final results

Seneca Global Income & Growth Trust announced its final results for the year ended 30 April 2019. NAV total return per share stood at +7.6%, close to the benchmark return of +8.2%. Share price total return stood at +6.0%.

Allied Minds (ALM); President & CEO to retire

Reports good progress in planned cost reductions for the year

Allied Minds in its business update announced the retirement of Jill D. Smith, the current President & CEO, with effect from June 10, 2019. The board appointed Michael S. Turner and Joseph A. Pignato as co-Chief Executive Officers. Both of them join the board as Executive Directors.

HG Capital Trust (HGT); announced its intention to raise approximately £80m

The board announced its plans to raise up to approximately £80m by way of a placing of new ordinary shares at 2.5p each

HG Capital today stated that it is in shareholders’ interests to raise equity to maximise the company’s opportunities and continue its strong long-term performance record. New ordinary shares will be issued at 217.1p each, a premium of approximately 1.1% to the last published NAV. The placing of shares opens on 10 June and closes on 13 June at 1.00 pm.

Avanti Communications (AVN); posts results for 31 December 2018

Changes financial year-end to 31 December 2018

Avanti Communications posted its final results for the 18 months ended 31 December 2018. During the period, the company says it transitioned the business to delivering improved bandwidth revenue from a higher quality customer base. It also launched HYLAS 4 in 2018, a telecommunication satellite launched by an Ariane 5 rocket in April.

Avacta Group (AVCT); hits clinical candidate selection milestone for Affimer PD-L1 inhibitor

Avacta Group has selected the clinical development candidate for its first time-in-human clinical trial of the Affimer platform. This important milestone signifies that the group remains on track to submit an IND/CTA application for an Affimer PD-L1 inhibitor by the end 2020.

Regional REIT (RGL); announces sale of Tokenspire Business Park for £11.1m

The industrial estate extends to over 24 acres and consists of 322,211 sq. ft. of commercial space

Regional REIT announced that London and Scottish Property Investment Management (LSPIM) has contracted to sell Tokenspire Business Park in Beverley for £11.1m on behalf of the company. The sale reflects a net initial yield of 7.0%. The sale price marks an uplift of 30.6% to the acquisition price.

Games Workshop Group (GAW); expects PBT to be no less than £80m for FY 2019

Sales growth achieved across all sales channels

Games Workshop Group has announced its trading update for the year ending 2 June 2019. Sales for the year to 2 June 2019 are expected to be nearly £254m, royalties receivable from licensing stand at about £11m and the total dividend paid increased to £1.55 per share from £1.26 per share in FY 2018.

OnTheMarket (OTMP); reports record visit traffic and leads for May 2019

OnTheMarket announced monthly record traffic to its portal of 25.4m visits for May 2019. This is more than an 8% increase on January’s seasonal high and previous record month of 23.5m visits. Last month, the portal witnessed an approximately 15% increase in the number of phone and email leads vs. January 2019.