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EARNINGS AND TRADING: Guinness VCT NAV falls; Dial Square loss widens

28th Nov 2023 19:07

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:


Guinness VCT PLC - generalist venture capital trust seeking to invest in growth companies across a range of sectors including technology, education, healthcare, manufacturing, retail, leisure and food & drink - Net asset value at September 30 is 95.91 pence, down from 98.67p on March 31. After September 30, raises GBP560,500 under its offer for subscription and an allotment of shares scheduled for Thursday. The company says: "Continued inflation, higher interest rates and international conflicts continue to affect investor confidence in both the public and private markets. The VCT market, however, has remained relatively resilient. Fundraising for the 2022/23 tax year exceeded GBP1 billion for the second year running; marking the industry's second highest fundraising year to date. Considering the investment manager's pipeline and experience in the tax-incentive investment industry, we are well placed to take advantage of investment opportunities that will arise ahead."


Dial Square Investments PLC - looking to acquire a company operating in the sports management and talent representation sector - In the six months that ended August 31, pretax loss widens to GBP267,342 from GBP50,820 a year earlier. Posts no revenue, unchanged. Administrative expenses widen to GBP275,342 from GBP50,820. Non-Executive Chair Neil Cousins says: "During the period the directors considered a number of acquisition opportunities in the sport management sector, but did not identify an acquisition target that we considered would be appropriate for the company or in the best interests of its shareholders. As this search continued, the board was made aware of an opportunity to acquire EnergyPathways Ltd, a transaction which we believed represented an opportunity for the company to invest in a business that has the potential to deliver excellent value for shareholders. As such, the directors, in consultation with major shareholders of Dial Square, considered it appropriate to pursue this transaction rather than continue to spend time and resources seeking an opportunity in the sports management sector that may not come to fruition."


Real Good Food PLC - Liverpool, England-based food manufacturer - Intends to appoint administrators, "given the impact of the current operating environment on the group, the group's limited working capital position and the consequential uncertainty regarding the group's financial position". Requests suspension of trading of its shares on AIM in London with effect from the start of Wednesday. Says should administrators be appointed, the outcome to creditors of the group is currently "uncertain" and that it believes there will be no return to shareholders whether via a solvent sale of its remaining business JF Renshaw Ltd or any procedure in an administration. Says a further announcement will be made with an update as soon as practicable or once further steps are taken to appoint the joint administrators.


Belluscura PLC - London-headquartered medical device developer - Extends deadline for posting of takeover offer document for TMT Acquisition PLC. It now anticipates posting document to TMT Acquisition by mid-December. Last month, it agreed to buy TMT Acquisition in all-share deal valuing the latter at GBP5.8 million. It is currently in receipt of irrevocable undertakings for 16.8 million TMT Acquisition shares, representing 61% of shares.


By Greg Rosenvinge, Alliance News senior reporter

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