While we were aware that the relationship between edtech specialist Dev Clever (DEV) and Veative was already in the “marriage made in heaven” category, news that Dev is to buy the company effectively seals the deal on the relationship. This is because it will be buying the immersive education materials that will be used during the near-term roll-out of the Company’s existing partnership agreement with VLPL and the National Independent Schools Alliance (NISA) is India’s largest governing body for budget private educational institutions. This partnership was entered into on 21 December 2020. Dev Clever is buying Veative through the issue of 150 million new ordinary shares , representing an effective consideration of £54.75 million. Shares of Dev rose 0.5p, to 36p, remaining near their all time highs.
Shares of Asimilar (ASLR) the AIM quoted investing company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things (IoT) were up 3p to 43p in the wake of Dev Clever’s Veative news. Asimilar reminded the market that it has an interest in 70 million ordinary shares in Dev Clever currently representing approximately 12.2 per cent. of Dev Clever’s issued share capital. In addition to the 70 million ordinary shares, Asimilar retains a warrant to subscribe for 35 million new ordinary shares in Dev Clever at 25 pence per Dev Clever share. Asimilar also had the benefit of UHNW investor David Von Rosen opening his account on the shareholder register with a TR1 revealing a 5.82% stake.
The market also gave the thumbs up to the latest news from helium exploration and development company Helium One (HE1) as it unveiled its results for the six months ended 31 December 2020 It also provided an update on the Company’s progress on its projects in Tanzania after the half year end. Helium’s Chairman Ian Stalker said that it is delivering on its programme at pace and on budget, with the potential to show that Rukwa is a clean sustainable project with significant global implications in a supply constrained helium market. Helium shares ballooned another 3.1p to 14.3p, having started this year at less than half the price and been one of ShareTalk’s picks for 2021.
We have recently seen shares on the Aquis Exchange – the disruptive London stock market – lead the way in terms of investor interest, especially as we are in the run up to an electronic trading rollout in terms of the main trading platforms. It was the turn of NFT play Valereum Blockchain (VLRM) to shine in the wake of its announcement last week to enter the crypto mining space and provide an alternative way to investors of getting exposure to this area in the wake of London’s current crypto mining unicorn Argo Blockchain (ARB). Added momentum to the 87% rise in the stock was provided by traders savouring the prospect of an OTC listing in the US for VLRM as soon as by the end of this month. This event was transformational for Argo Blockchain in terms of its recent mega rally from below 10p to over 200p.
With copper stocks still very much in focus, it was timely of Bezant (BZT), the copper-gold exploration and development company, to announce a significant copper intercept in its first drill hole at the Minemba prospect within the Kalengwa exploration project area in Zambia. The company has a 30% interest in the project, and acts as operator, something which was greeted by a 0.02p rise in the shares to 0.245p. Bezant said that Minemba’s mineralisation host type is somewhat similar to the Kalengwa main mine and as such gives it encouragement as to potential. The main mine yielded 2 million tonnes of ore at an average of 9.44% Cu representing one of the richest copper deposits discovered in Zambia.
For Tiziana Life Sciences (TILS), it was another case of $TLSA leading #TILS late in the UK session as shares of the biotechnology company focused on innovative therapeutics for oncology, inflammation, and infectious diseases, was on the receiving end of a near 3x valuation target to $7.50 versus the then $2.67 by Zacks Small Cap Research. In a note entitled “In a Tizzy about Tiziana” Zacks calculated the target based upon a DCF model and a 15% discount rate. Clearly, doing the math regarding the UK stock price, based on the price target of the US listing, we would be looking at a return to the highs of last summer for the stock near 300p.
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