Last week’s best performing Scottish-based shares on the stock market.
Braveheart Investment Group +38.3%
The Perth-based business angel investment group continued on its upward trajectory following an agreement earlier this month to sell its 1.25 per cent stake – along with a 3.75 per cent interest held by Strathclyde Investment Fund – in Glasgow-based mLED, a University of Strathclyde spin-out that specialises in tiny light emitting diodes. Braveheart expects to receive a total net consideration of £381,000 if the sale, to an unnamed US-based technology company, goes ahead. The deal follows a recent trading update from the investor, in which it told shareholders that it was on track to generate a profit for the full year ending 31 March 2017.
Shares closed at 11.75p on Friday 12 August, and at 16.25p on Friday 19 August
Shares in the Africa-focused oil and gas explorer received a boost after it announced plans to return up to $10 million (£7.6m) to investors. Edinburgh-based Bowleven said its share buyback programme, to be carried out by broker Macquarie Capital, would be in shareholders’ interests, “being accretive to net asset value per share whilst retaining sufficient financial flexibility to evaluate growth options”. In April, the Aim-quoted firm was awarded a one-year extension to its onshore exploration licence in Cameroon as it awaits the final authorisation for its Bomono permit, which could supply up to six million standard cubic feet of gas per day.
Shares closed at 22p on Friday 12 August, and at 26p on Friday 19 August
Half-year results are due from the Glasgow-based broadcaster on Thursday. The maker of shows including Antiques Road Trip and Catchphrase said in April that it had made a “positive start” to its new financial year, with digital revenues soaring by 25 per cent. Total airtime revenues are expected to grow 2 per cent in the first half, with national sales forecast to dip 1 per cent but regional airtime revenues up 23 per cent. Annual results in February showed that pre-tax profits for 2015 rose 10 per cent to £19.1m – up from £17.3m the previous year and in line with City forecasts.
Shares closed at 327.38p on Friday 12 August, and at 364p on Friday 19 August
The Aberdeen-based oil and gas explorer, led by executive chairman Tom Cross, took full control of the Marten and Polecat fields in the central North Sea after doubling its stake in the licence earlier this month. The firm previously held a 50 per cent interest in the blocks following the 28th round of licensing awards in 2014, alongside partner Atlantic Petroleum. Marten and Polecat are estimated to contain more than 90 million barrels of oil in place between them and 33 million barrels of contingent resources – those deemed potentially recoverable, but not yet considered mature enough for commercial development.
Shares closed at 51.5p on Friday 12 August, and at 57.25p on Friday 19 August
Goals Soccer Centres +10.9%
The Northern Trust Company recently upped its stake in the East Kilbride-based operator of five-a-side football pitches to almost 8.9 per cent. The move came after Goals raised £16.75m to revamp its centres in the UK and expand overseas. The firm, which has 46 sites across the UK and one in California, is also considering a move into Asia and other international markets under its new strategic plan, which follows the appointment last month of former Grosvenor Casinos managing director Mark Jones as its new chief executive. Former chief executive Keith Rogers relocated to the US in February to oversee its expansion plans there.
Shares closed at 96.5p on Friday 12 August, and at 107p on Friday 19 August