Tintra climbs after short but dramatic update


Tintra PLC (AIM:TNT), the new name for St James House, shares have jumped again (though are still lower than they have reached in the past couple of months) on a short but drama-packed trading update.

First, the board was said to be in “advanced negotiations” with a potential acquisition after concluding that this is the most appropriate way of progressing its strategy to operate a business authorised as an electronic money institution by the UK financial watchdog.

Second, an offer has been received for its lottery administration business, which the board is reviewing and about which it expects to make a decision in a fortnight.

Third, discussions are also taking place regarding a potential joint venture with an AI software developer in the financial technology sector, as the use of AI software is “a core element of the Group’s strategy for radically improving payments between emerging and developed economies”. An announcement will be made next week, it said.

10.40am: AO World collides into supply chain bottlenecks

AO World PLC (LSE:AO.) shares fell off the back of a speeding lorry, tumbling 18% to 177.66p as it was the latest company to warn of supply chain hitches, while also bemoaning “challenging market dynamics” in both the UK and Germany.

As a result sales volumes for the online electricals retailer grew much less than expected and affected operational leverage in the past quarter.

Revenue growth slowed to 5% for the six months to end-September, compared to 62% in its previous full year to March, saying UK growth was “impacted by the nationwide shortage of delivery drivers and ongoing disruption in the global supply chain”.

Management said they have put new logistics measures in place to help mitigate the supply chain issues but revenue growth in the second half of the year is expected to be similar to the first, with full-year underlying earnings (adjusted EBITDA) forecast to come in around GBP35-50mln, compared to GBP64mln in the past year.

Profits are expected to be “more heavily weighted than usual towards the second half of the year driven by the peak trading period”.

9.22am: N4 fortified by patent successes

N4 Pharma PLC (AIM:N4P) shares were one of the few looking healthier in early trading on Friday, up 14% to 9.09p on the back of good news from European and Chinese patent offices with respect to the company’s Nuvec delivery system for cancer treatments and vaccines.

A European patent has been granted, with the European Patent Office specifically noting the system’s composition, particulate materials and methods for making the particulate materials”), the EPO has now granted this Patent which has been validated in the main territories across Europe.

Adding to existing grants in Australia and Japan, the company said it has also been informed by the Chinese Patent Office of its intention to grant Nuvec a patent, and that discussions with other key patent authorities in the US, Canada and India are continuing.

Elsewhere, Europa Metals Ltd (AIM:EUZ) shares shot up 16% to 8.88p after it provided an updated independent Indicated and Inferred Mineral Resource estimate for Toral, its lead-zinc-silver project in northern Spain.

The Indicated resource estimate pointed to roughly 5.9mln tons (Mt) at 7.1% zinc equivalent (including lead credits) and 27 grammes per tonne (g/t) of silver, representing an approximate 55% increase in Indicated resource tonnes.

The total resource is now calculated to be approximately 20Mt at 6.3% zinc equivalent (including lead credits), 3.9% zinc, 2.7% lead and 22 g/t silver, including 790,000 tonnes of zinc, 550,000 tonnes of lead and 14mln ounces of silver.

“We are now progressing to a new phase of metallurgical testing in order to determine the most efficient production routes for the upper zone including examination of ore sorting,” said chief executive Laurence Read.


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