Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
ITM Power
There’s a veritable flood of announcements this morning, although the vast majority are start of month place-holders. In terms of more exciting corporate developments however, ITM Power LON:ITM has announced that its network of hydrogen refuelling stations have been moved into a separate, wholly owned entity. There’s no indication that this will pave the way for a sale, with the company instead noting that it offers flexibility in terms of scaling up, although also provides the scope to develop new investment models.
Braveheart Investment Group
There’s news of an exciting development from Braveheart Investment Group LON:BRH portfolio company Paraytec out this morning. A rapid COVID detection process has shown under test conditions that it can quickly identify patients with very low viral loads, well below the threshold which is picked up using a lateral flow test. The company does however note that getting this into production would take at least six months from engaging with a manufacturer.
One Media iP Group
A note that seemed impossible to miss this morning was the news from One Media iP Group LON:OMIP, the digital music rights acquirer, that it has picked up the writer’s share to royalties of more than 250 tracks by Kid Creole and the Coconuts. There are no details of the financials involved here, only that it is in line with management expectations. One Media uses proprietary anti-piracy software to ensure that song usage is carefully monitored, which presents an economy of scale when it comes to securing royalty payments. Conversely the artist selling the rights gets advance access to future earnings off their IP.
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