Ant (LON:ANTP) (ANTP, 23.5p, £5.71m) has announced it Galio Platform now supports the BBC iPlayer. We maintain the SPECULATIVE BUY as the group is well placed to benefit from the convergence of broadcast and internet delivered TV and rich media.
Imaginatik Plc (LON:IMTK) (IMTK,1.75p, £2.79m), the provider of idea management software and Innovation consultancy, has partnered with National Aeronautics and Space Administration (NASA) on a pilot project. Imaginatik will the software and professional services to assist NASA in project planning, software configuration and implementation, and assessment of results. The contract highlights the scalability and versatility of the software platform across multiple sectors. No financial information has been disclosed, which suggests the monetary value is small. The group is going through a turnaround. We believe additional contracts wins will act as a catalyst to increase the share price. The drift in the share price encourages us to retain our SPECULATIVE BUY recommendation.
Metrodome Group (LON:MRM) (MRM, 1.75p, £3.23m) has announced the Target Entertainment acquisition, that cost £0.8m plus a working capital injection of £0.7m, will need a further cash injection of £0.7m – which will be met by the group’s Chairman and Chief Executive Mark Webster via a further 4% convertible. As the group has to seek permission anyway it has made the offer available to existing shareholders. We previously rated the group a Hold at 1.5p and move the group down to a SELL with that as a price target due to the additional dilution.
Vertu Motors Plc (LON:VTU) (VTU, 26.25p, £52.81m), the UK motor retailer, has acquired a Peugeot business in Dunfermline through the purchase of trade and certain assets from Hardie Motor Group, for a total cash consideration of up to £0.3m with the value of the acquisition represented predominantly by vehicle stock. There is no leasehold. For the year ended 31 December 2009, Dunfermline Peugeot reported turnover of £3.5m and a small operating profit. The acquisition will be earning-enhancing and will improve the group’s presence in Scotland. We believe the group has made a sensible acquisition. We reiterate our HOLD recommendation.
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