Blog

Fiinu (LSE:BANK) has responded to a shareholder letter distributed by Granicus Holdings ahead of its annual general meeting on 24 July, stating that the document presents an incomplete account of both the Everfex acquisition and the group’s financial performance for FY2025. The board said a significant proportion of the reported loss relates to non-cash goodwill impairment together with integration, investigation and restructuring costs associated with the Everfex transaction, rather than shortcomings in the company’s underlying operations.

Company Pursues Legal Claims Linked to Everfex Acquisition

Fiinu revealed it is pursuing two significant legal actions arising from the Everfex acquisition. The first involves arbitration proceedings concerning alleged breaches of non-compete obligations by Karol and Marta Oleksa. The second relates to contractual claims against Granicus, with the company alleging warranty breaches and failures to disclose relevant information during the transaction.

Combined, the two legal proceedings seek damages exceeding £16 million as Fiinu aims to recover losses it believes resulted from the acquisition process.

Board Calls for Shareholder Support Ahead of AGM

The board, whose members collectively control 32.3% of the company’s voting rights, has urged shareholders to vote in favour of all resolutions at the 24 July annual general meeting. Directors also reaffirmed their support for Chief Executive Dr Marko Sjoblom and the company’s current strategic direction, stating that management remains focused on delivering its commercial plans while protecting long-term shareholder value.

More about Fiinu Plc

Fiinu Plc is a London-listed fintech company founded in 2017 that develops banking technology for financial institutions. Its flagship Bank Independent Overdraft platform enables banks to offer overdraft facilities to customers without requiring them to switch their existing current accounts.

The company is admitted to trading on AIM under the ticker BANK and provides white-label technology designed to help lenders enhance their retail banking products. By supplying infrastructure directly to banks rather than serving consumers itself, Fiinu seeks to expand the adoption of its lending technology across the financial services sector.

Seascape Energy Asia plc (LSE:SEA) has announced that Executive Chairman James Menzies will take an initial three-month medical leave of absence following a cycling accident. During his absence, Senior Independent Director Geraldine Murphy has been appointed Interim Non-Executive Chair, while all other board responsibilities will remain unchanged.

Experienced Leadership to Ensure Strategic Continuity

Murphy brings more than 35 years of experience in energy investment banking and mergers and acquisitions and has played a key role in Seascape’s strategic transition towards Southeast Asia. She has also been closely involved in shaping the company’s growth strategy and is expected to provide continuity as Seascape continues advancing its Malaysian asset portfolio.

The appointment is intended to ensure stable leadership while the company continues executing its strategy, including efforts highlighted at its recent annual general meeting to unlock further value from its operations in Malaysia.

Financial Outlook Remains Mixed

Seascape’s outlook continues to be affected by its pre-revenue status, ongoing operating losses and continued cash burn. These challenges are partly offset by a stronger, less leveraged balance sheet following recent financial improvements.

Technical indicators remain constructive, with the shares trading above key moving averages and a positive MACD signalling favourable momentum. However, momentum indicators suggest the stock is approaching overbought territory. Valuation also remains constrained by a negative price-to-earnings ratio, reflecting the company’s current lack of profitability.

More about Seascape Energy Asia plc

Seascape Energy Asia plc is an exploration and production company focused on oil and gas opportunities across Southeast Asia, with its principal assets located in Malaysia. The company has repositioned its strategy around the region and continues to pursue exploration and development opportunities supported by a board with extensive experience in energy investment banking and mergers and acquisitions.

BRCK Group PLC (LSE:BRCK) has confirmed that it will publish its final results for the financial year ended 31 March 2026 on Tuesday, 14 July 2026. The announcement marks the company’s next scheduled financial update and will provide investors with a detailed overview of its recent trading performance, financial results and operational progress.

Management to Host Analyst Presentation

Following the release of the annual results, chief executive Frank Hanna and chief financial officer Mike Gant will host an in-person analyst presentation in London at 09:30 BST. The briefing is intended to provide additional insight into the group’s financial performance, strategic priorities and outlook while reinforcing BRCK’s engagement with investors and the wider capital markets.

Outlook Balances Stable Growth with Profitability Challenges

BRCK’s outlook is supported by steady revenue growth, an attractive dividend yield and ongoing strategic initiatives aimed at strengthening the business. These positive factors are partly offset by pressure on profitability and cash flow, while technical indicators continue to point to weak market momentum. Nevertheless, management’s corporate actions and long-term strategic plans provide a foundation for future growth.

More about BRCK Group PLC

BRCK Group PLC is an AIM-listed distributor of construction materials serving the building and infrastructure sectors. Through its established distribution network and broad product offering, the company supplies professional contractors and industrial customers with a range of construction materials used across commercial and infrastructure projects.

Kosmos Energy (LSE:KOS) delivered a strong operational performance during the first half of 2026, supported by rising production from its Ghana portfolio. New Jubilee wells J76 and J77 are expected to increase gross field output towards approximately 90,000 barrels per day, with an additional production well and a water injection well scheduled to come online in the coming months.

The company also exported nine LNG cargoes from the Greater Tortue Ahmeyim project, completed the sale of its Ceiba and Okume assets in Equatorial Guinea, progressed the Tiberius farm-down in the Gulf of America and reduced net debt to around $2.56 billion, highlighting continued progress on its strategy of growing production, optimising its portfolio and strengthening the balance sheet.

Ghana Growth and Portfolio Optimisation Drive Progress

The latest drilling success at the Jubilee field is expected to support higher oil production while reinforcing the long-term potential of Kosmos’ flagship Ghana operations. Alongside increasing output, the company continues to advance additional drilling activity to sustain future production growth.

At the same time, Kosmos is expanding LNG exports through the Greater Tortue Ahmeyim project, divesting non-core assets and progressing funding initiatives for key developments. Combined with lower leverage, these measures further strengthen the group’s financial position and operational flexibility across its international portfolio.

More about Kosmos Energy

Kosmos Energy is an independent deepwater oil and gas exploration and production company with operations offshore Ghana, Mauritania, Senegal and the Gulf of America. Listed on both the London and New York stock exchanges under the ticker KOS, the company focuses on developing producing assets and advancing large-scale energy projects in established offshore basins.

Alongside its production growth strategy, Kosmos emphasises responsible operations, with a focus on transparency, safety, environmental stewardship, ethics and respect for human rights across its global business.

One Health Group PLC (LSE:OHGR) reported a fifth consecutive year of growth for the year ended 31 March 2026, with revenue increasing 11% to £31.6 million and adjusted EBITDA rising 28% to £2.6 million. Gross profit advanced 21%, while underlying earnings per share improved 10%. The company also ended the year with a strong cash position of £11.1 million, supporting a proposed increase in the total dividend to 6.3p per share.

Rising NHS Demand Continues to Support Expansion

The group continued to expand its operations during the year, delivering double-digit growth in NHS patient referrals, consultations and surgical procedures. One Health also increased its network of consultants, outreach clinics and operating locations, benefiting from sustained pressure on NHS waiting lists and greater reliance on independent healthcare providers.

The company now works with 29 integrated care boards and several NHS trusts, strengthening its position as a key provider of NHS-funded elective care across its operating regions.

First Owned Surgical Hub to Boost Capacity

Construction of One Health’s first owned surgical hub is progressing and is expected to provide a significant increase in treatment capacity from the 2027/28 financial year. The new facility will complement the group’s existing network of partner hospitals while supporting future growth in patient volumes.

Management is also evaluating additional surgical hub locations in areas with high demand and limited healthcare provision as part of its strategy to help the NHS reduce waiting times.

Strong Balance Sheet Supports Long-Term Growth Plans

Following its successful AIM listing in March 2025, One Health said it remains well capitalised to fund continued organic expansion. Growth initiatives include increasing patient referrals, recruiting additional surgeons and expanding capacity through independent hospital partnerships.

The company has scheduled its annual general meeting for 11 September 2026, when shareholders will vote on the proposed final dividend, reflecting management’s confidence in the group’s cash generation and the long-term demand for NHS-funded surgical services.

More about One Health Group PLC

One Health Group PLC is an independent provider of NHS-funded surgical procedures, operating primarily through the NHS Patient Choice scheme. The company works with approximately 140 NHS-employed surgeons and anaesthetists on a subcontracted basis across 14 independent hospitals and 40 outreach clinics, serving patients across Yorkshire, Lincolnshire, Derbyshire, Nottinghamshire and Leicestershire.

Its core specialisms include orthopaedics, spinal surgery, general surgery and gynaecology, with urology recently added to its service offering. During the year ended March 2026, the group treated almost 19,000 new patients, delivered more than 50,000 consultations and performed over 8,000 surgical procedures, with knee and hip replacements continuing to drive activity.

Oriole Resources PLC (LSE:ORR) has released the final results from its Phase 3 step-out diamond drilling programme at the MB01-S deposit within the Mbe gold project in Cameroon. Two additional drill holes returned 13 mineralised intersections, with highlights including 16.40 metres grading 1.65 g/t gold and 27.00 metres grading 0.61 g/t gold.

The latest drilling confirms that mineralisation extends further to the southeast, adding to previously identified growth towards the north and west. The results are expected to support an increase to the current 870,000-ounce resource at MB01-S, with an updated JORC Mineral Resource Estimate being prepared by an independent consultant for release later in the third quarter of 2026. A larger resource at MB01-S could also strengthen the wider 1.23-million-ounce Mbe resource and further enhance the project’s long-term development potential.

Strong Exploration Progress Offsets Financial Weakness

Oriole’s outlook continues to be constrained by its pre-revenue status, ongoing operating losses and continued cash burn. However, the company maintains a debt-free balance sheet, providing financial flexibility as exploration advances.

Technical indicators remain supportive, with the share price trading above key moving averages and positive momentum suggesting improving market sentiment. Valuation is more difficult to assess, as the company remains loss-making and no meaningful price-to-earnings ratio or dividend yield is currently available.

More about Oriole Resources PLC

Oriole Resources PLC is an AIM-listed gold exploration and development company focused on projects across Central and West Africa. Its flagship asset is the 50%-owned Mbe orogenic gold project in Cameroon, which currently hosts a JORC Inferred Mineral Resource Estimate of 1.23 million ounces of gold across the MB01-S and MB01-N deposits.

The company is focused on expanding its resource base through ongoing exploration and drilling, positioning itself as an emerging gold developer in one of Africa’s prospective mining regions.

RC365 Holding plc (LSE:RCGH) has introduced a new Wealth Management System, a software-as-a-service (SaaS) platform developed for trust companies and wealth management firms. Fully integrated into the group’s existing fintech ecosystem, the platform is designed to help financial institutions across the Asia-Pacific region accelerate digital transformation without the need to build their own technology infrastructure.

New Platform Creates Multiple Revenue Opportunities

The Wealth Management System is expected to generate income through three core channels: recurring subscription fees, bespoke customisation services and referral commissions from clients. Based on the company’s illustrative projections, the platform could produce annual revenue of between approximately US$780,000 and US$1.89 million, compared with an initial Phase 1 development cost of around US$150,000.

The solution is also closely integrated with RC365’s Banking Virtual Account service, creating opportunities for additional SaaS subscriptions, cross-selling and greater customer retention through a more connected fintech ecosystem. The company believes these features will strengthen its recurring revenue model and enhance its competitive position within the regional wealth management market.

Financial Performance Continues to Present Challenges

Despite the launch, RC365’s outlook remains constrained by declining revenue, continuing losses, elevated leverage and negative cash flow. Technical indicators also remain weak, with the share price trading below key moving averages and a negative MACD signalling ongoing bearish momentum. Valuation offers limited support as the company remains loss-making and does not currently provide a dividend.

More about RC365 Holding PLC

RC365 Holding plc is a fintech and payment services provider offering an integrated ecosystem of digital financial solutions, including SaaS platforms for financial institutions. The group focuses on delivering subscription-based technology to trust companies and wealth management firms, particularly across the Asia-Pacific region. Its services also include a Banking Virtual Account platform that supports virtual banking, client fund management and payment settlement.

By serving small and medium-sized financial institutions with limited in-house technology capabilities, RC365 provides enterprise-grade digital solutions without the cost and complexity of proprietary development. The company’s strategy centres on building recurring revenue through SaaS subscriptions while expanding cross-selling opportunities and network effects across its growing fintech ecosystem.

Knights Group Holdings plc (LSE:KGH) reported strong full-year results for the year ended 30 April 2026, with underlying revenue increasing 28% to £207.7 million. Organic revenue growth improved to 7% for the year, accelerating to 12% in the second half. Underlying EBITDA rose 20% to £51.5 million, while underlying profit before tax climbed 19% to £33.2 million, supporting a 17% increase in the total dividend. Cash conversion reached 163%, and net debt remained broadly unchanged despite approximately £17 million of acquisition-related payments.

Organic Growth and Acquisitions Strengthen Market Position

Knights continued to expand through a combination of organic growth and targeted acquisitions. The group strengthened its regional presence by adding new operations in the South East and Cardiff while growing its Cardiff office further through selective recruitment.

The company also broadened its expertise by investing in specialist practice areas including tax, ESG and competition law. At the same time, it continued enhancing its technology-led operating model with AI-powered client onboarding and workflow systems designed to improve efficiency across the business.

To support future expansion, Knights increased its committed revolving credit facility to £159 million through 2029, providing additional financial flexibility as it continues to consolidate the evolving UK regional legal services market through both organic investment and strategic acquisitions.

Strong Fundamentals Offset by Premium Valuation

The company’s outlook remains supported by robust financial performance, healthy operating cash generation and positive technical indicators, with the share price continuing to trade above key moving averages. However, these strengths are partly offset by a demanding valuation, reflected in a high price-to-earnings ratio, while technical indicators suggest the shares may be approaching overbought territory, increasing the potential for short-term volatility.

More about Knights Group Holdings Plc

Knights Group Holdings plc is one of the UK’s largest legal and professional services businesses, ranking among the country’s top 50 law firms by revenue. Operating from 29 offices across major regional centres outside London, the group provides specialist legal services for businesses and private wealth clients and was one of the first firms to adopt a corporate structure in place of the traditional partnership model.

The company continues to expand across regional hubs including Birmingham, Manchester, Leeds and Bristol, offering clients a nationally integrated, technology-enabled platform. Its corporate structure, centralised support functions and unified technology systems are designed to improve operational efficiency while attracting experienced legal professionals from traditional law firms.

Seraphim Space Investment Trust (LSE:SSIT) has joined the FTSE 250 following the latest index review, a milestone expected to improve the trust’s market profile, trading liquidity and appeal to institutional investors. The company is also increasing its visibility through investor events, media engagement and a new presence on Curation Connect as it seeks to strengthen its position as a listed gateway to the fast-growing commercial SpaceTech sector.

Portfolio Companies Deliver Major Commercial Milestones

Several portfolio businesses have achieved notable progress in recent months. ICEYE completed a €450 million Series F funding round at a valuation exceeding €10 billion to expand its sovereign space-based intelligence capabilities, while HawkEye 360 reported 116% year-on-year revenue growth, reached a record order backlog and successfully listed on the NYSE.

Elsewhere across the portfolio, companies continued advancing technologies in areas including space surveillance, precision positioning and nuclear power systems for space missions. At the sector level, developments such as SpaceX’s record-breaking IPO and EQT’s acquisition of Exolaunch highlighted the growing flow of institutional capital into space infrastructure and related services.

SpaceTech Investment Trends Continue to Strengthen

The wider SpaceTech industry continues to benefit from substantial fundraising activity, consolidation and entrepreneurial growth. More than 1,300 former SpaceX employees have gone on to establish companies that have collectively raised $9.2 billion, illustrating the expanding innovation ecosystem.

Increasing demand for space-enabled defence, climate monitoring and critical infrastructure solutions continues to support the long-term investment case for the sector, reinforcing Seraphim’s view that space technologies are becoming an increasingly important part of the global economy.

Financial Outlook Remains Mixed

Despite favourable industry trends, the trust’s outlook remains constrained by consistently negative operating cash flow and earnings that are heavily influenced by portfolio valuation movements. On the positive side, the company maintains a debt-free balance sheet, providing financial flexibility. Technical indicators, however, suggest weak short-term momentum, with the shares trading below key moving averages, while a relatively low price-to-earnings ratio offers only limited support.

More about Seraphim Space Investment Trust Plc

Seraphim Space Investment Trust is a London-listed investment company specialising in the SpaceTech sector. Its portfolio includes businesses developing satellite constellations, space-based data services, navigation technologies, defence intelligence platforms and orbital infrastructure.

As the world’s first listed SpaceTech investment trust, the company invests in high-growth businesses serving government, defence, climate resilience and commercial markets, providing investors with exposure to the expanding global space economy.

Panther Metals (LSE:PALM) has agreed an extension to its sale and purchase agreement with Broken Rock Resources for the Obonga Project in Ontario, moving the option expiry date to 30 April 2027. The revised timetable provides the company with additional flexibility to complete exploration work and fund the CAD$250,000 option payment while advancing its Phase 1 diamond drilling programme, which is being supported by funds raised in June 2026.

Equity Issued as Part of Extension Terms

Under the revised agreement, Panther will issue 30,000 new ordinary shares to Broken Rock Resources as consideration for the extension. A further 48,000 shares will be issued to two service providers instead of cash payments, with the combined allotment representing approximately 0.73% of the company’s enlarged issued share capital.

Management said the share-based payments were a practical response during a period of funding uncertainty and reaffirmed its intention to limit future shareholder dilution while focusing on unlocking value from the Obonga Project and expanding its exploration portfolio.

Financial Challenges Offset by Positive Market Momentum

Panther’s outlook continues to be constrained by its early-stage financial profile, characterised by pre-revenue operations, ongoing losses and sustained negative cash flow. However, technical indicators remain supportive, with the share price trading above key moving averages and a positive MACD signalling strong momentum. At the same time, a high Relative Strength Index (RSI) suggests the stock could be approaching overbought conditions. Valuation metrics remain weak due to the absence of earnings and dividend payments.

More about Panther Metals Plc

Panther Metals PLC is a London-listed mineral exploration company with a portfolio of district-scale projects across Canada, including the Obonga Greenstone Belt in Ontario. The company is focused on exploring for base and critical minerals, including volcanogenic massive sulphide (VMS) copper deposits and graphite, while also progressing the Winston Project, which includes the assessment of historic mine tailings.

Since acquiring the Obonga Project in 2021, Panther has advanced several priority exploration targets, including Wishbone, Awkward, Survey, Ottertooth and Silver Rim. Its strategy combines disciplined capital allocation with systematic exploration designed to support the future supply of critical minerals through ongoing drilling, permitting and geophysical programmes.