Uncategorized TRADING UPDATES: Mirriad's US growth; Spectra Systems wins deals | Financial News – London South East

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Mon, 24th Jan 2022 19:12
(Alliance News) – The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Mirriad Advertising PLC – London-based in-content advertising technology – Expects total revenue for 2021 of GBP2.0 million. Notes “strong” annual growth in key US market. US revenue rose almost three-fold. “The company is building on its strong momentum and adoption in the US to scale further, with additional investment for the integration of Mirriad into the media buying ecosystem and business development hires now expected throughout 2022,” the company adds.

Spectra Systems Corp – Rhode Island-based authentication technology provider – Wins three new deals. Wins additional order for covert materials from largest central bank customer, increasing this year’s initial order by 20%. “This increase in order size brings the aggregate order for the current year to 75% of last year’s record order size,” Spectra says. In addition, same customer renews sensor service contract at “nearly double its historical annual value”. Finally, Spectra says it has won a new contract with a US state lottery customer worth at least USD500,000 for ten-year prior. “In total, these three new contracts will generate USD700,000 of additional unforecasted revenue for the 2022 calendar year,” Spectra says.

Big Technologies PLC – UK-based remote people monitoring technology – Continuing to win new customers, underpinning revenue forecast for 2021. Tips 2021 revenue of at least GBP36.5 million, up from GBP29.6 million in 2020. Expects adjusted earnings before interest, tax, depreciation and amortisation. Result would be “slightly ahead current market expectations” of GBP20.2 million, up from GBP15.7 million in 2020. Big Technologies adds: “As we look forward to 2022 the group expects to deliver year-on-year revenue growth at a similar growth rate to that experienced in 2021 and a further increase in the adjusted Ebitda margin as we continue to penetrate new geographic markets and scale-up our business activities.”

MTI Wireless Edge Ltd – Israel-based technology company – Announces partnership with Viridix, which specialises in data analytics for irrigation. “The strategic partnership will bring together the group’s expertise in automated irrigation and Viridix’s data analytics,” MTI says. Viridix’s RooTense sensor offering is to integrated with a ICC PRO real-time irrigation monitoring, control and reporting software developed by MTI unit Mottech Water Solutions Ltd. Integration to occur in early second quarter of 2022.

Tirupati Graphite PLC – graphite mining and processing company – Says construction of new primary flake graphite plant at Sahamamy, Madagascar, remains on track. The plant will have 18,000 tonnes per year capacity. Set to be completed by end of second quarter of 2022. It will increase total Madagascar capacity to 30,000 tonnes per year. “Operations at both Sahamamy and Vatomina were restarted smoothly following the Christmas and New Year holiday period and graphite production remains in line with expectations,” Tirupati adds.

Bradda Head Lithium Ltd – North America-focused lithium development – Says geophysical results from Zonge Engineering and Terravision Exploration at Eureka asset in Nevada “demonstrate the potential presence of both brine and clay deposits”. Eureka is located near a Tesla Inc gigafactory, as well as Albemarle’s existing Silver Peak lithium mine, the only US lithium mine in operation currently. Says two drill programmes now planned for 2022.

Creo Medical Group PLC – medical device company focused on surgical endoscopy – Enters non-binding heads of terms with number of parties relating to its SpydrBlade, Cool Plasma and MicroBlate technologies. “The company considers these HoTs, to be a key milestone in achieving its stated goal of licensing its technology to established, multi-national partners and is in line with the strategy set out at the time of its fundraising last year. Negotiations on final legally binding agreements are underway and Creo is mobilising resources to deliver against its obligations,” Creo says. Says continuing to receive “considerable interest” in its technology.

Shanta Gold Ltd – New Luika and Singida gold mines in Tanzania and West Kenya project in Kenya – Says exits 2021 in line with revised guidance and eyes production growth in 2022. Says gold output in 2021 totals 55,280 ounces, topping revised 55,000-57,000 oz guidance.

Savannah Energy PLC – African‑focused energy company – Says financial 2021 revenue rises to USD230.5 million, up 7% on like-for-like basis from 2020. Says figure tops guidance. Says average 2021 Nigeria output rises 14% to 22.3 kilo barrels of oil equivalent per day.

Zenith Energy Ltd – Africa-focused production and development energy company – Says Ezzaouia concession in Tunisia producing at 500 barrels of oil per day. Will perform sidetracks in two non-producing wells “to maximise cost control”. Finalises plans to drill Robbana-3 well. “In the event of a successful outcome, ROB-3 is expected to produce approximately 150-200 BOPD,” Zenith says. Meanwhile, it suspends work at ROB-1 “because of increasing water influx caused by a possible lack of casing integrity”.

Guardian Global Security PLC – developer of system used to visually deter pirates from maritime vessels – Completion of fundraise and admission to Standard Segment of the London Stock Exchange now expected to take place in “early February”. “The company and its financial adviser, Novum Securities Ltd have accordingly agreed to extend the long stop date agreed between them,” company says.

Unicorn AIM VCT PLC – venture capital trust – Launches offer to raise GBP25 million through subscription of a maximum of 20 million shares.

Conduity Capital PLC – AIM cash shell – Says continuing to make “good progress” with proposed reverse takeover of Smarttech247. For year ended July 2021, Smarttech makes EUR1.2 million pretax profit on EUR7.2 million revenue. RiverFort Global Opportunities PLC notes announcement.

NFT Investments PLC – invests in non-fungible tokens – Enters into non-binding letter of intent to acquire Pluto Digital PLC for GBP96 million. “The acquisition, which is conditional on shareholder approval, will create a significant global metaverse company and advance NFT’s investments in the non-fungible tokens sector as the Pluto Ventures division has invested heavily in NFTs and NFT gaming,” NFT says. Consideration to be satisfied by issue of 2.4 billion new shares in NFT. NFT says Pluto shareholders will hold 71% of enlarged business on completion. Acquisition counts as reverse takeover. Trading of shares suspended on AQSE Growth Market until deal is sealed. RiverFort notes announcement. RiverFort notes deal implies Pluto shares valued at 11.5p each. RiverFort says it owns 21.7 million shares in Pluto. Pires Investments PLC also notes announcement. It holds 32.5 million Pluto shares.

By Eric Cunha;

Copyright 2022 Alliance News Limited. All Rights Reserved.
TRADING UPDATES: Mirriad’s US growth; Spectra Systems wins deals
(Sharecast News) – In-content advertising technology company Mirriad said in a trading update on Monday that total revenue for 2021 was expected to be about £2m.
(Sharecast News) – People monitoring technology firm Big Technologies said on Monday that it had continued to deliver "a robust performance" in 2021 as it continued to win new customers, underpinning its revenue forecast for 2022.
(Sharecast News) – Banknote authentication and security software provider Spectra Systems Corporation said on Monday it had secured three new contract awards, generating $700,000 of additional unforecasted revenue for the 2022 calendar year.
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