Ace Liberty and Stone (ALSP) says that £2.2m of loan notes has been converted into shares at 50p each. The property portfolio has a resilient tenant base, with the majority of rents owed by national and local government tenants. During March, 82% of rents were paid. Four tenants are facing short-term difficulty. Ace will defer dividend payments.
SG Recruitment Ltd (SGRL) has signed contracts to supply nurses to Saudi Arabia and domestic workers to Bahrain and Malaysia. There is also a contract to supply personal protection equipment to the NHS. These deals are worth £800,000 in this financial year. Aaamir Quraishi has resigned as a director.
Cadence Minerals (KDNC) is raising £645,000 at 6p a share. The cash will be used to finance the bridging loan, with an annual interest rate of 18%, to fund the start-up of shipping iron ore from the Amapa project.
GP software provider DXS International (DXSP) believes that it can still match last year’s revenues despite COVID-19. New product launches have been delayed. There is cash in the bank to cover working capital.
Ananda Investments (ANA) says that medicinal cannabis strains are being analysed by Dr Dedi Meiri in Israel. Dr Meiri is assessing the anti-inflammatory properties of cannabis for treating coronavirus. Ananda intends to broaden its licence application for cannabis growth to the anti-inflammatory area.
Gunsynd (GUN) had net assets of £1.72m at the end of January 2020, including £225,000 in cash. The investment in Brazil Tungsten has been written down from £400,000 to nil. Management is assessing potential investments in the Australian precious metals sector.
SulNOx Group (SNOX) intends to raise £400,000 at 40p a share. Each share will also come with a warrant exercisable at 40p.
Trading in Lombard Capital (LCAP) shares has been suspended until it makes a full announcement about the proposed recycling acquisition.
KR1 (KR1) has invested $75,000 in the Union Finance project, which is a credit mutual on Ethereum. Loans will be offered via blockchain.
NQ Minerals (NQMI) has appointed VSA Capital as corporate broker.
SME news and commentary
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