(Alliance News) – Deliveroo (ROO) PLC on Tuesday said it has agreed a GBP2.9 billion takeover by Doordash Inc. The cash offer from San Francisco-based DoorDash is worth 180 pence per Deliveroo share. Shares in Deliveroo, the London-based food delivery company, rose 2.3% at 176.02 pence each in London on Tuesday for a market value of GBP2.63 billion. Deliveroo listed in London in 2021, priced at 390p per share.
Comment: Fresh from The Telegraph story over the weekend that the first thing illegal migrants do is work for fast food deliver companies such as Deliveroo, the company agrees to be taken over. Good timing. That said, these takeaways don’t deliver themselves.
Tiger (TIR), an investment vehicle focused on incubating technology and mining projects, announced that Jonathan Bixby, an Executive Director of the Company, has been appointed Chief Executive Officer of Tiger with immediate effect. At the same time, Colin Bird has stepped down as Executive Chairman but is remaining on the Board as Non-Executive Chairman.
Comment: While it is sad to see Mr Bird give way to a (slightly) younger man having treaded more boards than Sir Henry Irving, it will be interesting to how Mr Bixby now drives Tiger forward with its new tech strategy.
Zeus published the finest broker notes on Borders (BOR) and Challenger (CEG) respectively. It would appear that someone preferred working over the Bank Holiday Weekend than enjoying themselves.CEG is 35.4p unrisked NAV…..674p risked, versus 9.25p now. On BOR the total risked NAV is 22.7p versus a current share price of 4.7p.
Challenger Energy Group (CEG), the Atlantic margin focused energy company, is pleased to provide the following operational update, and to advise of the exercise of warrants. CEG “One-third of the way into the year, I can report that 2025 is progressing to plan. We’re on track to see 3D seismic acquired over AREA OFF-1 later this year, on track to complete our technical work on AREA OFF-3 and launch a farm-out process for that block in the second half of the year, and we’re progressing the sale of the Trinidad business. Our balance sheet is strong.
Comment: While shares of CEG have, under the cover of darkness made a decent effort in terms of rallying, perhaps today’s Zeus note will focus minds in a more serious fashion.
Insig AI (INSG), the data science and machine learning solutions company delivering advanced data infrastructure and AI-powered ESG research tools and specialist reporting and advisory firm Falcon Windsor, today published ‘Your Precocious Intern’, an in-depth research paper and practical model for the responsible use of AI in corporate reporting.
Comment: While we all look forward to AI cooking Christmas lunch and ironing shirts, it does appear that it already has a role in corporate reporting – which is actually too difficult for normal humans.
Wellnex Life (WNX) announced changes to the board and to management post the successful dual listing on AIM. Having guided the Company through a transformational period and the successful AIM IPO, Non-Executive Chairman, Mr George Tambassis, has tendered his resignation. Whilst the Company commences its search for a new Chairman, Mr Andrew Vidler, current independent Non-Executive Director, has agreed on an interim basis to assume the non-executive Chairman role.
Comment: Listing a company is enough to wear out the best of us. But all the while WNX has at least in terms of its business finessing the big turnaround in sales achieved in the latter part of 2024. One would expect this to gather momentum, and the for stock market to wake up on this happening.
Harena (HREE) reported that Pre-Feasibility study work is progressing at pace on its 75% owned Ampasindava Rare Earths Project in Madagascar. Initial work on the mining plan is well advanced and will underpin subsequent cost and logistics modelling ahead of the next phase of project development. HREE said “We are moving decisively to advance the Ampasindava project forward as quickly as possible, especially given the current backdrop of geopolitical tensions with regard to trade tariffs and tightening export controls around heavy rare earth and NdFeB magnet materials.”
Comment: Given the way that China has delivered an export ban on rare earths, something it was always waiting for the right time to do, HREE is very much in the box seat as far as pushing ahead with its advanced activities in Madagascar.
Agronomics (ANIC), alisted company in the field of clean food, is pleased to announce that its portfolio company Meatable B.V., one of the leaders in cultivated meat technology, and TruMeat Co., Ltd., specialising in the contract manufacturing of cultivated meat at commercial scale, have formed a strategic collaboration to advance the global commercialisation of cultivated meat.Jim Mellon, Executive Chair of Agronomics, said: “This is yet another example of the huge momentum happening across the clean food industry, as companies continue to demonstrate their commitment to producing cultivated meat affordably and at scale. By working together, Meatable and TruMeat can scale production swiftly and meet the growing demand from consumers for meat which is healthy and sustainable, but which does not incur such heavy costs on our planet.”
Comment: ANIC has all the fundamental at the moment, the only missing ingredient is the share price responding in kind, something which seems almost inevitable for the rest of 2025, even though the company is Woke Central.
Eco (Atlantic) Oil & Gas Ltd. (ECO), an Atlantic Margin-focused oil and gas exploration company, updated stakeholders on activities in its entry into Block 1 offshore South Africa, located in the proven and highly prospective Orange Basin.
Comment: It could have been argued that the only sizzle missing as far as ECO in terms of getting shareholders and the market, was the lack of its presence in the Orange Basin. Today the problem is solved in terms of an asset that the majors are fighting tooth and nail over, in a feeding frenzy.
Aptamer Group (APTA), a developer of next-generation synthetic binders delivering innovation to the life science industry, announced the successful adaptation of the Optimer-based test for Alzheimer’s disease into an Enzyme-Linked Immunosorbent Assay (ELISA), a format widely accepted and used in hospital laboratories. Aptamer has also finalised a royalty agreement with its development partner, Neuro-Bio Ltd.
Comment: APTA, on the quiet is doing what so many biotechs do, monetizing its IP. As the penny drops on what it is doing the share price should rise even more significantly than it has of late.
Predator Oil & Gas Holdings (PRD), the Jersey-based Oil and Gas Company with near-term hydrocarbon operations and production focussed on Morocco and Trinidad provided an operational update. PRD “We remain fully-funded to progress all our operational plans with immediate priority on the MOU-3 shallow testing designed in a success case to start the process of monetisation and the execution of operations in our Trinidad assets focussed on increasing production revenues going forward. Medium term we retain the momentum to further develop the helium potential in Guercif and to add appraisal drilling in both Morocco and Trinidad when the time is right.”
Comment: Given how much fan mail the company’s CEO is no doubt currently wading through, it is surprising that there is time for an operational update. Nevertheless, being “fully-funded” and helium are the buzz words here.
Cadence Minerals (KDNC) noted that ASX listed Evergreen Lithium (ASX: EG1) has announced the acquisition of the Leonora Goldfields Project, located in WA’s highly sought-after central gold district with a JORC 2012-compliant 63,000oz gold inferred resource. This marks a significant step in EG1’s objective to transform into an emerging gold producer and a timely pivot towards the gold sector. Cadence is an 8.74% shareholder in EG1.
Comment: While KDNC continues to push on with Amapo, it is letting investee Evergreen push on with earning / investing to ensure it has as much cash in the kitty going forward.
KEFI (KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield, reported that the Ethiopian Council of Ministers has formally approved Ethiopian Country Membership for Africa Finance Corporation, which is now with the Ethiopian Parliament for proclamation in legislation.
Comment: The soaring share price (just for a change) on Friday suggested that the market had already guessed that today’s RNS was on its way. The shares exactly hit our initial technical target of 0.75p – thank you.
Associated British Foods (ABF) noted recent media speculation and confirms that it is in discussions with Endless LLP regarding a potential transaction. However, there is no certainty that a transaction will be concluded nor as to the terms of such a transaction.
Comment: Given the state of the country and the stock market, it is the patriotic duty of every major UK listed company to take the money and run. It is a shame that Endless which has the naff “The Difference is Endless” as its slogan, is already the owner of Hovis *As good today, as it’s always been” a far better slogan, so fingers crossed.
Filtronic (FTC), the designer and manufacturer of products for the aerospace, defence, space and telecoms infrastructure markets, announced the outlook for both FY2025 and FY2026 is expected to exceed current market expectations. Investments in manufacturing capacity during the financial year are fully online allowing the Company to meet increasing customer demand. This will deliver stronger revenue and adjusted EBITDA in H2 of FY2025 and result in us beating current market expectations for the current year.
Comment: For some reason the London stock market has been rather reticent in terms of re-rating FTC, even though it is clearly an international blue chip in the making. Perhaps London investors are just not used to success when it knocks on their door.
Huddled Group (HUD), the circular economy e-commerce business, announced its audited full year results for the year ended 31 December 2024. FY2024 Group revenue increased over 490% to £14.2m (FY2023: £2.4m. Q4 FY2024 revenue from the three core businesses of £4.3m, double that of Q1 2024 (£2.1m).
Comment: One could tell by the pedigree of the people tweeting about this company that it was going places, something which the near 5x jump in revenue underlines. All that is left is for a proper re-rate of the stock in sympathy.
Mast Energy Developments (MAST) announced updates regarding its Growth Capital Partnership with Powertree, a trading revenues update for its Pyebridge site, and a significant shareholdings update. Under an Investment Agreement, Powertree will invest up to £5,000,000 into MED’s Hindlip project, resulting in the Hindlip project being fully funded with no further funding obligation from MED.
Getech (GTC), a world-leading locator of subsurface resources, is pleased to announce its Final Results for the 12 months ended 31 December 2024. Revenue up 16% to £4.7 million (2023: £4.0 million). Annually Recurring Revenue increased to £2.9 million (2023: £2.8 million). EBITDA loss decreased significantly to -£0.56 million (2023: -£2.7 million). Cash at bank increased to £0.9 million (2023: £0.4 million).
Comment: Close but no cigar in terms of getting into the black. That said, one would expect GTC to have arrived at the Promised Land by the interim stage.
Ananda Pharma (AQSE: ANA), a UK-based biopharmaceutical company developing regulatory approved cannabinoid medicines to treat complex, chronic conditions, announced the appointment of Mr. Giles Moss, ex- senior executive at GW Pharmaceuticals plc as an Advisor.
Comment: It is a shame that since the turn of this year, when arguably the newsflow at ANA has been better than ever, the share price has not responded as one might have expected.
