This week: Jubilee’s delightful new venture, Eden offers rich pickings and ValiRx validates
Angel Biotechnology Hldgs (LON:ABH) (ABH 0.24p/£5.10m)
Specialist contract manufacturer of advanced biologics has announced its interim results for the six month period ended June 30th, 2010. The Company made a net profit in H1 2010 of £106,737 and expects this trend to continue and looks forward to announcing a net profit for the full year 2010. Net liabilities have reduced from £1.6m (Dec 09) to £100,000. Eight new contracts were signed and two contracts were extended in the period, with a total value of more than £3.3m. More than 92 per cent of 2010 budgeted business has been signed and almost 40 per cent of the business budgeted for 2011. Three of the new contracts signed were specifically to provide regulatory support. Angel successfully raised £1.425m in the period to provide working capital and to facilitate an expansion of the companies resource and appointed Lorna Peers as Group Financial Controller and Company Secretary. Angel is actively assessing its options to increase its manufacturing capacity. Whilst the share price has moved up with this announcement of profitability, it had fallen below the placing price that institutional investors were willing to pay for access to Angel’s wings, although is currently back at the placing price.
Cubus Lux (CBX 16.5p/£3.56m)
The Croatia-focused leisure resort operator and developer announced the raising of £325,000 through the issue of 2.32 million shares at 14 pence per share. Gerhard Huber (Executive Chairman), Christian Kaiser (Director) and Steve McCann (CFO) have all participated in the placing. Management investment is usually seen as a good sign and we see this as a positive move for a company that continues to develop its operations in Croatia. The Company’s uncapped casino operator’s licence in Croatia was extended for a further 5 years at the end of 2009, and allows for expansion opportunities given that it now permits online gaming. With continued development in Croatia and Montenegro, Cubus Lux looks to have good fortune, although unfortunately the Company's share price will be held back by the City until bank finance can be secured.
Edenville Energy (LON:EDE) (EDE 13.5p/£8.33m)
The Technology Strategy Board recently ran the competition “New Approaches to Crop Protection” where £13.5 million of funding was allocated to several firms including two projects incorporating Eden Research’s technology. Eden, an…
