Sharp gains for the manufacturer of high quality mixer drinks this morning after the company published a pre-AGM trading update. This headlined with news that the ongoing share bay back was to be extended by a further £30m, whilst market share gains were also noted. The company continues to invest in marketing, clearly confident that there’s more ground to be won and management add that strong progress is being made against strategic priorities. The Fevertree share price was up 5% in early trade.
Full year results are out from Molten Ventures this morning with the company noting an improvement in gross portfolio value of just over 10%. £120m of cash realisations were made over the year at an average multiple of 3x and whilst exit potential remains very much in recovery, the fund does appear to be making good progress. The market was minded to agree, with the Molten Ventures share price up as much as 10% shortly after the open.
Seraphim Space Investment Trust
The world’s first listed Space Tech investment company announced yesterday that it would be included in the FTSE-250 from the end of next week, whilst this morning provided an update on its largest portfolio holding, ICEYE. A funding round being undertaken by the investee company will give it a valuation of more than $12bn and with Seraphim owning around 5% of that, it’s a material move. ICEYE represents almost half of the Seraphim portfolio so there’s a degree of concentration there but today’s news have bumped the market cap towards £700m. The Seraphim share price was up 18% by 8.30am.
Most read news on Investegate this morning
Proposed AIM Delisting & Notice of General Meeting - - Silver Bullet Data Services Group (SBDS)
Molaoi Drilling Update - - Rockfire Resources (ROCK)
ICEYE Financing Round - - Seraphim Space Investment Trust (SSIT)
