Aquis Stock Exchange Weekly Highlights 24/05/24

Samarkand Group plc provided a trading update for the year ended 31 March 2024. Results are expected to be in line with market guidance in terms of adjusted EBITDA and slightly behind guidance in terms of revenue. Adjusted EBITDA losses will be reduced by over 55% compared to the prior year as a result of material improvements in gross margin, growth in owned brands, and the delivery of operating efficiencies across the business as we continue to focus on profitable growth.

Samarkand also announced the acquisition of the entire share capital of Optimised Energetics Ltd. Optimised Energetics Ltd owns natural health and healing brands Natures Greatest Secret and BeNatural and manufactures premium skincare on a contract basis for Napiers the Herbalist. The total consideration of £1.3m comprises an initial consideration of £600,000 in cash on a cash free debt free basis and deferred consideration of £700,000 payable in cash over a three-year period. Read more…

Adsure Services PLC announced that TIAA Ltd has received certification as a B Corporation ("B Corp"), joining a growing movement of companies reinventing business for the benefit of all people and our shared planet. Verified by B Lab, the not-for-profit organisation behind the B Corp movement, the Company state that the achievement demonstrates that TIAA Ltd meets high standards of social and environmental performance, transparency, and accountability alongside a commitment to goals beyond shareholder value. Read more…

Invinity Energy Systems plc announced the results of the Open Offer, which closed for acceptances on 21 May 2024. The Company has received valid acceptances from Qualifying Shareholders in respect of 6,011,983 Open Offer Shares, representing approximately 21 per cent. of the 28,660,096 new Ordinary Shares available under the Open Offer raising a further £1,382,756, which adds to the previously announced £56 million Read more…

Flex Labs Inc announced that it has acquired the remaining 95% of the issued share capital of IO+ PTE Ltd ("IO+") for a total consideration comprising 110,000,000 new common shares. The consideration is equivalent to £2.75 million at the 2.5 pence per Common Share closing mid-market price on 22 May 2024. IO+ operates a software business engaged in the development of advanced artificial intelligence products with a particular focus on the real estate market. Read more…