UK small-cap RNS · 11 Dec 2025

Revenue nearly doubled to HK$11.9m and the loss narrowed to HK$4.1m, but gross margin fell from 89.2% to 39.3%, cash halved to HK$5.9m and the company flags going concern uncertainty.

IPO placing of 13.7m new shares at 82p raises about £11.2m gross, funding a US factory, engineering hires and Nuneaton build-out; the company calls investor support strong.

Raises £3.0m at 7p with no discount to the prior close, giving working capital while P1 financing is arranged; it adds 10.4% to share count and the company says P1 funding will mainly come from outside equity.

Placing of 2bn shares at 0.09p, a 25% discount to the 0.12p close, dilutes holders (about 17% of enlarged capital) and comes with warrants; the funds go to iron ore work, working capital and facility repayment.