Sport Capital Group (SCG) is acquiring Italian football club Palermo for a nominal sum. The deal also includes the project for a new stadium for the Serie B team, which is currently five points clear at the top of the table. Promotion back to Serie A would boost revenue generation and it would also trigger an earn-out payment. There is also potential for more sponsorship and match revenues. There is a plan to raise up to £10m from a bond issue that would be traded on NEX.
Clinical decision support technology provider DXS International (DXSP) reported a lower interim loss in the six months to October 2018. Revenues edged up from £1.61m to £1.69m and the loss declined from £92,000 to £35,000. Tax credits meant that there was a post-tax profit of £70,000, up from £28,000. The GPSoC tender has been delayed but it is expected to be completed this year.
Coinsilium Group Ltd (COIN) says that its priorities for 2019 are to demonstrate the potential of the blockchain investments that it has and to take advantage of the growing sector. There were record levels of investment in the blockchain sector last year. Management wants movements in the share price to reflect progress rather than the movement of the price of bitcoin, as has been the case in the past year.
KR1 (KR1) has set up a subsidiary in Gibraltar. KRX Ltd will sponsor token-based projects that will list on the Gibraltar Stock Exchange, which operates the first regulated blockchain exchange. The subsidiary will generate fees from clients and there are a limited number of sponsors.
AFH Financial Group (AFHP) has acquired fellow wealth management firm Hayburn Rock for up to £3.5m. The initial payment is £900,000. In 2017, the firm made a profit of £400,000.
TechFinancials (TECH) is selling its stake in MarketFinancials, which no longer trades, for €100,000. The investment had no value on the balance sheet.
Smaller company investor Gledhow Investments (GDH) had £167,000 in the bank at the end of September 2018, having made a small profit in the period. The NAV is £793,000.
Ashley House (ASH) is changing its year from April to June. This is the end of the first six months period for joint venture Morgan Ashley Care Developments LLP. There will be interim results for the six months to October 2018 reported at the end of January.
NQ Minerals (NQMI) has commissioned the Hellyer processing plant and in the fourth quarter generated £3.2m of revenues from lead, zinc and pyrite.
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