Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. RM: sale of non-core divisions
Educational tech provider RM LON:RM. has today advised the market that it intends to dispose of its Integris and Finance Business divisions. The two will be offered for an initial consideration of £12m, with up to a further £4m being due should certain conditions be met. The move is designed to allow RM to better focus on core activities, as well as being used to pay down debt. Completion is expected during the first half of next year.
#2. Barkby Group’s focus on roadside property to see pubs sold
AIM-listed Barkby Group LON:BARK has a trading and strategy update out today. Earlier in the year the company announced a focus on roadside property development and today advised that its pubs division of nine properties would no longer part of the group moving forward as this is considered non-core. The company notes with regard to its plans to move forward that downward valuations in the commercial property market are leading to high quality assets at attractive valuations becoming available.
#3. Corcel: audited results highlight need for fresh financing
Again on AIM, Corcel LON:CRCL, the battery metals and energy investments company, has published audited final results. The company has been increasing its exposure to critical battery metals ahead of an expected supply crunch in the coming years. However it is also running out of cash and whilst it is making moves to shore up the balance sheet, the results come with a warning that there’s material uncertainty related to maintaining this as a going concern. With just £52k in the bank, additional funding is necessary.
