It’s been a busy couple of days for 7digital Group PLC (LON:7DIG), the digital music company.
Yesterday, the company finally released its results for 2017, thereby enabling trading in its shares to recommence.
Today, patient shareholders were rewarded with news of a contract win with music video platform, Triller.
S/O @talentkiddd killin this #ghettofortnitechallenge???????????? Go download Triller and join the challenge today!!! https://t.co/HVbzBeCWc8 pic.twitter.com/aBVipMlAai
— TRILLER (@triller) August 16, 2018
7digital’s technology will be used to provide access to music, in the form of preview clips, and manage label reporting.
The agreement covers an initial 18-month period and will contribute to 7digital revenues in 2018 and beyond.
The technology company’s top-line is certainly rising fast. In 2017, revenues rose by 50% from a year earlier to £16.8mln while in the first half of 2018, they were up 57% year-on-year.
The company is still not making a profit but the directors believe it will be profitable at the profit before tax level in the second half of this year.
“7digital is expert at providing access to music for innovative platforms of this type, having previously partnered in 2016 with musical.ly, another fast-growing social media platform based around video and music with a strong international footprint. Triller's product represents one of the ways in which audiences now consume and share content online, creating a new revenue stream within digital music and significant potential for growth," said Simon Cole, the chief executive officer of 7digital.
Shares in 7digital were up 10.3% at 5.1p and are pretty much back to where they were at the start of the year.
COPL plunges after discounted placing while Dukemount's prelims underwhelm
Canadian Overseas Petroleum Ltd (LON:COPL) has raised £3mln by placing shares at 0.35p a pop.
Seeing as the shares closed last night at 0.49p, it is small surprise that the stock price has plunged 28% to 0.35p.
Such is the lot of junior resource companies; everyone knows they need funds and therefore driving a hard bargain on the issue price of shares is a toughie.
About the only consolation is that shareholders can get some stock at the same price via Teathers Financial.
Canadian Overseas Petroleum is now available to buy on the @teathersapp at 0.335p per share. Deal closes 21st August. #COPLhttps://t.co/XxyWjsqgLh pic.twitter.com/j4Q9REHY7L
— teathersapp (@teathersapp) August 17, 2018
The explorer said the capital injection will cover around US$400,000 per month including a full technical team comprising geologists, a geophysicist, reservoir engineers, and a drilling engineer.
Dukemount Capital PLC (LON:DKE) was also taking a pounding after “fessing up” in its full-year results to not having made the progress it had hoped to achieve.
The shares were off 14.4% at 0.415p after the company, which is pursuing purchase-and-leaseback opportunities in the supported living accommodation sector, revealed it had cash and cash equivalents of £148,391 at the end of April.
One assumes it has access to banking facilities because £150k is barely going to buy a one-bedroom flat in some parts of England.
Airea alert! Shares up after interims
Shares in Airea PLC (LON:AIEA) were going through the roof in early deals, which is kind of odd for a maker of floor coverings.
Half-year results sent the shares 8.5p higher at 63p and revealed that the company is on a much sounder footing since selling its residential carpets business.
Sales in the first half of the year were up 13% year-on-year while profit before tax improved to £1.32mln from £1.15mln the year before.
READ: Airea shares jump as it sees improved shareholder returns and posts first-half profit growth
Gresham House Strategic PLC (LON:GHS) headed 6% higher after it sold 42.2% of its holding in IMImobile for £9.6mln.
The sale represented a 19% internal rate of return (IRR), which is significantly above the company's stated target return of 15% IRR.
GHS retains a 6.3% stake in IMImobile.
"Gresham House remain supporters of IMImobile and the considerable market opportunity the business is targeting, and as such we have retained a significant investment in the company,” said Tony Dalwood, Gresham House investment committee chairman for strategic public equity.
Lancor Scientific is hosting an event next week to showcase its revolutionary rapid cancer diagnostic.
Hello - For info, we're running our first low key event in a weeks time just near Liverpool Street station in London. Come along, meet the team and ask us any questions you have about the project. Spaces are limited - please register here: https://t.co/mQY635e57G
— Lancor Scientific (@LancorICO) August 15, 2018
Proactive news headlines:
SDX Energy Inc (LON:SDX, CVE:SDX) has revealed the success of production testing at the SD-3X appraisal well on the South Disouq field, in Egypt. The SD-3X well flowed at a maximum rate of 16.1mln cubic feet of gas per day over an eight-hour clean-up, and, following a brief shut-in (with no pressure decline measured), further tests at varied choke sizes recorded rates of 5.3mln and 8.4mln cubic feet per day.
Victoria Oil & Gas PLC (LON:VOG) has told investors that it remains confident that a solution can be found to end the suspension of gas sales to power generator ENEO, and, said it remains actively engaged in the process. In the meantime, VOG highlighted that shortfalls in power supply continue as hydroelectric schemes are currently not meeting demand.
Motif Bio PLC’s (LON:MTFB) chief medical officer David Huang is to present data from the company’s lead drug candidate iclaprim at an upcoming microbiology conference in Portugal. Iclaprim is a next generation antibiotic which has initially been designed as a treatment for patients with acute bacterial skin and skin structure infections (ABSSSI).