Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Argo Blockchain secures funding for a new data centre
The usual slim pickings for a Friday, but interesting to see that Argo Blockchain LON:ARB, the cryptocurrency miner, has entered into a short term loan agreement, using a portion of the company’s Bitcoin holding as collateral. The funding is required to help build out a data centre in the US and meet operating cashflow requirements. No details of the rate charged on the loan are available.
#2. Yourgene Health UK government contract worth £34m
Yourgene Health LON:YGEN has issued an update advising that the UK government has today published the company’s contract win to support the NHS with COVID surge testing. This however was announced by Yourgene on August 19th, although today’s update does include details of the maximum contract size, which is up to £34m. On the basis Q1 revenues (April-June 2021) were £6m, this offers some context as to the size of the deal.
#3. Gresham House Assets Under Management up 19%
Specialist alternative investment managers Gresham House LON:GHE have a flurry of announcements out today. Interim results for the six months to June 2021 show AUM up 19% and operating profits up by 32%. The company notes that it sees strong demand for its ESG focused investment strategies, but has also bolstered AUM by almost a further 10% with the announcement that it is to purchase the Mobeus VCT business. That in turn is to be funded using a £40m placing, which is to be conducted at a modest 2% discount.
