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SMALL CAP MOVERS: Seeing Machines shares soar
by Eartha Torpy (2022-04-15)
July has been an excellent month for eye-tracking technology firm .
The company, which is branching out from its core market of providing in-cab driver safety systems for mining trucks, released well-received results and news of a couple of contract wins this week.
Shares trucked higher after the company said it expects to report record revenues when it unveils full-year results at the end of next month.
Seeing Machines: The company provides technology which spots exhaustion in miners, truck and train drivers and pilots
Sales are tipped to be £9.0million - 12 per cent higher than last year - driven by demand from the mining sector.
Analysts are keeping a watchful eye on the group's new fleet product line, designed for road transport, which chipped in with some sales in the fourth quarter but which should really start to rev up in the new financial year.
Prompted by potential opportunities in automotive and aviation sectors, the company said it had achieved 'major advances' in its technology's performance and 식물 엑소즘 its commercial position in both fields in the last year.
RELATED ARTICLESCaterpillar, the US giant of the industrial vehicles world, is already a big fan of the Aussie firm's technology, and it was announced this week that Seeing Machines' in-cab fatigue monitors are to be rolled out by Caterpillar in risk assessment programmes across its full range of customers.
Tim Crane, manager of Caterpillar Safety Services, said DSS's ability to alert drivers in real-time was critical.
He said: 'From a long-term perspective it provides the facts and data needed to drive improvements to management systems, processes and training.'
The company also said it had signed up Australian transport and 식물 엑소즘 logistics company Toll Group.
Less welcome news from Australia came from energy firm , which is to cancel its listing on London's junior market after selling is its stake in Côte d'Ivoire explorer Vioco Petroleum.
The news had UK-based holders of Azonto shares stampeding for 식물 엑소즘 the exit, resulting in the share price more or less halving.
Closer to home, 식물 엑소즘 shares in dimmed considerably this week as the branded product developer revealed a change in direction and a change in management.
Famed stock picker Neil Woodford upped his stake in the ReNeuron to 35.5 per cent
Litebulb's new strategy will consist of two elements - as opposed to filaments - comprising an acceleration of the integration of its operating divisions and a focus on driving organic growth.
Reading between the lines it seems there was a disagreement over the company's previous acquisition-led strategy.
Chief executive officer Simon McGivern and sales director James Philips quit Litebulb with immediate effect, with Howard Partington, managing director of the Concept Merchandise division, taking over as interim boss.
Finally,
Finance directors of other biotechs must have been weeping with envy as they saw the company issue shares at a premium in a £68.4million capital raising exercise that saw famed stock picker Neil Woodford up his stake in the company to 35.5 per cent.
Neil Woodford in one of the UK's best known fund managers and was a star performer at Invesco before branching out on his own recently.
He is a major investor in UK biotechs and the launch earlier this year of Patient Capital, a trust focused on small caps, pulled in billions in new money.
Olav Hellebø, Renueron's chief executive, said it was the largest funding by a cell therapy group anywhere this year the company's strong position in stem cell therapies.
Woodford Investment Management owned 26.2 per cent prior to the placing, but this holding will rise to 35.5 per cent with the new shares it is buying.
The fund has been granted a waiver of the normal takeover rules from having to make a mandatory offer for the rest of the shares.
Woodford paid 5p for the shares, a small premium to the closing price the day before the placing was announced.
The funds raised will be enough to pay for ReNeuron's therapeutic programmes and new exosome nanomedicine programme through to 2019.