29 July 2016

Obtala switches advisers

Robert Tyerman

Wheeler-deaLling Francesco Scolaro's Obtala Resources (OBT) has changed advisers after boosting net assets and doubling interim losses. The AIM-quoted company, which lifted net assets 36 per cent to £59.9 million and increased losses 124 per cent to £4.7 million in the six months to June, has happointed Australia's Macquarie Capital as nominated adviser and broker in replacement of ZAI Corporate Finance.

Obtala owns a big chunk of fellow AIM counter Paragon Diamonds, which upped its stake in International Diamond Consultants to 98.5 per cent (with Obtala owning the rest directly). The company raised £6 million at 50p, while Paragon raised £2.9 million, and Obtala has also agreed to secure 33 per cent of South Africa's Mokopane iron ore project, with a hoped-for potential of two billion tonnes, by taking 50 per cent of another concern Bushveld Resources.

With cash of £13.3 million, Scolaro expresses optimism for projects and future deals. At 33.5p, the shares are down from a year's high of 52.75p and offer speculative prospects.

Tags: AIM market, Francesco Scolaro, Macquarie Capital, Paragon Diamonds

Cash Shells 2015

Published in September 2015 this annual research report provides a comprehensive overview of cash shells on the Main Market, AIM and PLUS landscape. Order your copy today

 

Superb investment toolkit for private investors

SharePad is the new web-based service from ShareScope. Easier to use and more powerful. Perfect for tablets, Macs and Windows PC. Covers ALL your investment requirements.

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2015

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1000+ AIM-quoted companies. The full report is available to order for £385 + VAT. Click here for more info

 

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Staffline undaunted by Brexit

Recruitment is a sector that’s been underperforming all year and it got a further kicking after the Brexit vote. This means there’s plenty of upside if the economic background turns out to be OK or if companies’ business models prove to be resilient. Staffline shares could be well placed to benefit.

Synectics on the road to recovery

Synectics (AIM: SNX), the surveillance systems specialist, is on the road to recovery. The shares were hit badly by the downturn in the oil and gas industry which historically has been a key customer. Happily the slack is now being taken up elsewhere, with the order book up 34 per cent from the start of the year.

Profit from playing by the rules

One ‘industry’ that has boomed over recent decades is compliance. Everything has become a lot stricter as far as rules and regulations are concerned. It’s not enough to abide by the processes of our workplaces, we also need to demonstrate that proper procedures are in place and are being complied with. That’s good news for Ideagen (AIM: IDEA) whose software helps over 2,000 companies in regulated industries manage their governance, risk and compliance.

Collagen targets a step up in scale

Collagen Solutions (AIM: COS) results gave new CEO Jamal Rushdy an opportunity to set out his strategy for the company. Collagen has an unusually broad geographic footprint for a company of its £13 million size. The plan is to use this platform to exploit Collagen’s expertise in tissue engineering, both through contract manufacturing and developing its own medical devices.

Concepta Diagnostics reverses into Frontier shell

Cash shell Frontier Resources (AIM: FRI) has announced the reverse takeover of Concepta Diagnostics. Concepta is focused on women’s fertility and plans to have its first product in the market shortly.

Beam me up

Satellite Solutions Worldwide (AIM: SAT) has just pulled off a significant acquisition which increases its user base by 40 per cent. Avonline is a major UK competitor in satellite broadband and is being acquired for £10 million, funded by a further financing agreement with the Business Growth Fund.

More News