Immotion Group PLC signs VR deal with Pittsburgh Zoo

Immotion Group PLC (AIM:IMMO) saw its shares explode.

The UK-based immersive entertainment group has signed a three-year deal to install a 24-seat Gorilla Trek VR Theater at the Pittsburgh Zoo & PPG Aquarium.

The news comes a day after he announced a return to profit and hinted that contract news was near.

Immotion filmed the content on location in Volcanoes National Park in Rwanda, capturing a family of mountain gorillas in stereoscopic virtual reality.

The 24-seat VR theater facility is slated to open later this spring.

Discussions with other US zoos are at an advanced stage.

Immotion shares are up 4.56% to 4.7p.

2:27 p.m .: Kropz hit by phosphate production delays.

Kropz PLC (AIM:KRPZ) saw its shares deteriorate.

The African phosphate producer and developer said that due to slower than expected progress in ramping up operations at Kropz Elandsfontein in South Africa, the production of sufficient phosphate rock concentrate for a first wholesale will be completed later in the second quarter than originally planned.

The delay was caused by the need to rearrange parts of the fine flotation circuit, but also by early unforeseen ore variability and operator inexperience.

This means that Kropz Elandsfontein will need financing of ZAR 58 million at the end of April 2022.

To cover this, Kropz will draw the remaining conditional convertible capital facility of ZAR 33 million (approximately US$2.11 million) up to ZAR with its major shareholder, ARC Fund.

Kropz and ARC have also agreed a new bridge loan of ZAR 25 million to meet Elandsfontein’s immediate cash flow needs.

Due to the expected delay in ramping up production, Kropz is exploring options with ARC for additional financing of ZAR 100-150 million for Elandsfontein to generate positive cash flow.

Kropz shares fell 26.09% to 8.5p.

12:01 am: GYG sees its shares fall after losses and concerns over the conflict in Ukraine

Shares of GYG PLC (AIM:GYG) were leaked after the superyacht maintenance company suffered a loss and warned that the Ukraine crisis could affect its future performance.

Full-year revenue rose 6.7% to €62.8 million, but lost €7.2 million to a profit of €0.2 million.

He faced exceptional costs of 3.1 million euros due to the impact of COVID-19 and the administration of the Nobiskrug shipyard.

He had outstanding contracts worth 2.8 million euros at the shipyard, but after the end of the year he reached an agreement with the new owners and received a payment of 2 million euros.

It has a record order book but warned: “Significant external pressures remain in 2022, particularly the ongoing geopolitical conflict between Russia and Ukraine and the widespread global economic effects of the conflict.”

Chief executive Remy Millott said the new financial year had started well, but added: “While the board expects the impact of COVID-19 to be significantly less as we exit the pandemic, the board remains cognizant of the potential for future changes in lockdowns and travel restrictions as well as the broader geopolitical environment, which may affect full-year performance.”

The news saw its shares fall 21.76% to 33.25p.

10:27 am: Government asks Drax to delay closing coal plants

Drax Group Inc (LSE:DRX) saw its shares surge after a positive update from trading and news that the UK government has asked it to delay the closure of two coal-fired power stations to help keep the lights on in a context of rising energy prices.

The two factories, which are due to close in September this year, were called in January for limited operations to support security of supply.

He said: “These short-term measures helped stabilize the power system during times of system stress and resulted in no significant increase in the group’s total carbon emissions…

“Drax continues to expect to officially close these two former coal units…but remains committed to supporting security of supply in the UK.

“Drax has recently been asked by the UK government to consider options for a limited expansion of its coal operations and this remains under review.”

With strong trading in the first quarter – despite rising costs after removing Russian biomass from its supply chain – the company expects full-year earnings to come in at the high end of analysts’ expectations.

City’s current forecast is for 2022 revenues of £571m, with a range of £540m to £606m.

Drax Managing Director Will Gardiner said: “In the first quarter of 2022, we delivered a strong system support performance as our reliable, renewable electricity continued to support the UK’s energy security and helped keep the lights on for millions of British homes and businesses.”

Its shares are up 4.72% at 832p, making it the biggest riser on the FTSE 250.

JP Morgan analysts gave the shares an overweight rating and raised their price target from 700p to 950p.

9:49 am: City Pub Group in demand after optimistic outlook

City Pub Group PLC (AIM:CPC) toasts pandemic recovery despite setback over Christmas as Omicron variant spreads.

Its annual results show a 37% increase in revenue to £35.4m and it turned a loss of £5.4m into a profit of £0.9m.

Most of its 41 pubs are now trading normally, and the group’s comparable performance over the past nine weeks has reached 98% of the same period in 2019, before the pandemic.

He is confident that current-year trading will outpace 2019 by the end of the second quarter, although he expects a short-term effect on margins as he holds prices steady despite rising trading costs. energy and food.

Since the end of the year, it has sold 6 pubs and has a solid balance sheet to finance its expansion.

Its Oyster House site in Mumbles opens this week and it has three other development sites in London, southern England and Wales.

He also increased his stake in Mosaic, which owns ten pubs, from 25% to 36% for a total investment of £4.1m with the intention of buying the rest in 2023.

Chairman Clive Watson said: “Following the reversal over the festive season, trading is now starting to gain momentum and we look forward to uninterrupted summer trading.

“We are emerging from the pandemic in the strongest financial position we have ever known and have therefore signaled our intention to start paying dividends again in the fall.

We have a very strong platform from which to grow and much to look forward to despite inflationary headwinds as our dev sites come into production, Mosaic will be fully acquired next year adding ten high quality pubs, our new concept will begin to be marketed and we can take full advantage, within our strict criteria, of the freehold acquisition opportunities that will arise.”

The company’s shares climbed 10.76% to 82.85p on the news.

8:38 a.m .: SysGroup climbs after buying the computer group Orchard Computers

Cybersecurity and cloud hosting company SysGroup plc (AIM:SYS) is bolstering its business with the purchase of Bristol-based Network Solutions Limited.

It is paying £1million in cash for Network, a provider of managed IT services as Orchard Computers, its second acquisition of the financial year.

The deal, which will strengthen its presence in the South West and complement its operations in South Wales, should immediately improve its profits.

In the financial year to 31 December 2021, Orchard generated revenue of £2.1 million and pre-tax profit of £0.3 million.

Recurring revenue in 2021 accounted for 56% of total revenue. Its net assets as of December 31, 2021 were £0.3 million.

Shares of SysGroup are up 5.26% to 30p.

Elsewhere, LoopUp Group PLC (AIM:LOOP, OTC:LUPGF) added 9.29% to 7.65p.

The cloud platform for external communications has won a two-year contract with Telefónica for its Hybrid Auditorium and Events business.

The deal is initially worth €200,000 but could be extended.

LoopUp also announced 13 new contracts won for cloud telephony, putting it on track to meet its annual goal of securing 50 additional contracts in 2022.

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