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Keywords Studios recommends bid

Video games services provider Keywords Studios is recommending a bid from Sweden-based EQT Group, even though it is lower than the original indicative figure.

 

The offer is 2450p/share in cash, which is well below the previously indicated offer of 2550p/share. .The reason for that is the delayed contracts and poor trading of the business. That is a sign of the general weakness of the video games sector as games underperform and publishers run into financial difficulties. The bid values the company at £2.1bn. 

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Cake Box trading sparks upgrade 

Egg-free cakes supplier Cake Box had a stronger than expected second half and the full year was slightly ahead of forecasts. 

In the year to March 2024, revenues were 9% higher at £34.8m, although pre-tax profit dipped from £7m to £5.4m. Like-for-like growth of the store franchises was 4.4%. Pricing strategy is under regular review and there could be a small increase in prices this year.

Twenty new stores were opened last year. helped by a prepayment. The long-term target is 400 stores. Shore forecasts a recovery in pre-tax profit to £6m this year.

Windar Photonics raises £4m

Wind power measurement technology developer Windar Photonics is raising £4m at 35p/share after it was awarded a major order. 

 

The cash will be spent on R&D and sales. The latest order is from a North American company with Vestas V82 turbines. It covers one-fifth of the company's wind turbines, so there could be additional business. The deal also includes software for the first time. 

This underpins forecast 2024 revenues of €12m, which could return the company to profit. A pre-tax profit of €3.1m is forecast.

Avenir bond issue registry services 

Avenir Registrars is a significant provider of registry services for UK corporate debt issues. Debt is a strong accompaniment to equity fund raising.

The same core methodologies we apply at Avenir Registrars to equity issuance, ensuring that processes are optimised to keep timelines short and costs low, also sit at the heart of our debt issuance model. If you have clients who are looking for a cost-effective way of managing a debt issuance – either on a public or private basis – we’d be more than happy to talk.
 
More details can also be found at
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