The creative audio-visual company posted a 27% decrease in revenue to £2.3mln for the year to March 31, while the previous years profit of £129,000 turned into a £151,000 loss.
Following the easing of restrictions, the firm is resuming previously delayed projects.
The packaging and filters company placed 37mln shares at 260p each, a 8.8% discount to the closing price on Wednesday.
With the 88,459 shares subscribed by directors and the 1mln shares sold to retail investors, the issue represented 14.6% of the entire issued share capital.
8.40am: Trackwise Designs shoots up after acquisition discount
The printed circuit technology firm got a discount of £657,000 and will now pay only £1.8mln reflecting repairs and maintenance work to improve the facilities at Stevenage.
The AIM-listed company said there is no impact expected on its cash position following the adjustment because the savings will be invested in the Stevenage site over time.
Elsewhere, Falanx Group Limited (LON:FLX) advanced 8% to 1.4p on the back of a new contract for its cybersecurity monitoring services.
The firm said while initial revenues are not yet material as the contract currently only covers a limited number of devices, there is the potential for growth by adding further devices and services.
“This is an important strategic win for Falanx Cyber, offering validation at multiple levels,” the company's chief executive Mike Read said in a statement.
Proactive news headlines:
Braveheart Investment Group (LON:BRH) noted that investee company Pharm2Farm (P2F) has ordered an automated face mask production line that should be commissioned by the end of 2020. The production line has the capacity to produce up to five million standard or anti-viral face masks per month, said the investment company. Braveheart pointed out that conventional surgical type masks are recommended to be used for a maximum of two hours but P2Fs version contains an additional defensive layer that uses nanotechnology engineered to kill viruses and bacteria.
Faron Pharmaceuticals Ltd (LON:FARN) has said a scientist leading a trial of its early-stage immuno-oncology drug will provide more context on the treatment's “promising” anti-tumour activity at a leading industry conference. Dr Petri Bono, principal investigator heading the phase I/II MATINS study of bexmarilimab, will also provide commentary around the drugs potential efficacy. His team has observed a long-lasting partial response in a person with metastatic colorectal cancer and target lesion responses from “heavily pre-treated” melanoma and ovarian cancer patients.
Emmerson PLC's (LON:EML) new chief executive Graham Clarke has told investors he looks forward to regular progress updates as the potash mine group moves through a critical stage in its history. Clarke joined the company shortly after Junes feasibility study for Khemisset which confirmed the mine as a world-class, low capital cost, high margin potash mine. It envisaged outstanding project economics including earnings margins in excess of 61% over a 19-year minimum mine life. Subsequently, the company focus has shifted to making Khemisset "shovel ready".
Polarean Imaging PLC (LON:POLX) has completed the installation of its 9820 Xenon Polariser system at the University of Kansas (KU) Medical Center. KU is a major research and teaching hospital and the new technology will form the cornerstone of a new hyperpolarised 129Xe imaging research programme, added the company, which has now installed 23 systems. The latest unit will be used to “evaluate and assess” responses to therapy in lung disease patients, KUs Dr Mario Castro said in a statement. Polarean has developed a drug-device combination which uses hyperpolarised 129-Xenon gas MRI.
Integumen PLC (LON:SKIN), which will soon be renamed DeepVerge PLC, reported a positive first half and said it remains comfortable guiding for £4mln of full-year revenue. Achieving that target will see a significant ramp-up. The company generated some £1.004mln of revenue in the first six months of 2020, and it expected to bring in another £1mln in the third quarter and then the fourth. Integumen chief executive Gerard Brandon pointed out that the business continues to grow and evolve via collaboration and acquisition. Most recently, in August, the company agreed to a £21.25mln merger with Modern Water PLC (LON:MWG).
Eurasia Mining PLC (LON:EUA), the Russia-focused Platinum miner, has reshuffled its executive team with non-executive director James Nieuwenhuys to become its new chief executive. Christian Schaffalitzky remains as executive chairman while Dmitry Suschov steps down from the board to become chief M&A officer. Nieuwenhuys has previously been CEO South Africas Lesego Platinum and was COO at Polyus Gold, Russian largest gold producer and has many contacts among PGM producers in Russia, China and South Africa, said Eurasia.