(Alliance News) – UK Chancellor Rachel Reeves has said she plans to soften the proposed tax regime on non-doms after listening to their concerns. Downing Street said the move does not “change the overall approach” to the government’s policy.
The chancellor said she would be tabling an amendment to the plans for taxing non-domiciled residents after “listening to the concerns” they raised. The changes will increase the temporary repatriation facility, which allows non-doms to bring money into the UK without paying significant taxes on it.
Comment: There is absolutely no reason for the Chancellor to change the proposed tax regime for non-doms, as they are all long gone or should be, and would never come back within the lifetime of a Labour government anyway.
Quadrise (QED), the supplier of energy solutions, announced a retail offer via the BookBuild Platform to raise gross proceeds of up to £1 million through the issue of new shares. In addition to the Retail Offer, the Company conditionally raised gross proceeds of £4.53 million by way of an upsized and oversubscribed placing of £4.50 million and £0.03 million through a direct subscription by certain Directors of the Company.
Comment: Full marks to QED for finally getting its business model validated in recent months, and taking advantage of a significant share price rise to raise a proper amount of cash. One looks to further license deals.
Westminster Group (WSG), a supplier of managed services and technology-based security solutions worldwide, announced that it has secured an additional US$300,000 contract to supply entry screening solutions to an existing international client to enhance security at a number of their sites across the United States of America. WSG said in October 2024 it announced it had secured contracts worth over US$1.2m to provide a range of security services across a number of prominent sites in the United Kingdom for a major international organisation with operations in over 90 countries around the world.
Comment: WSG has had to bounce back from rumours that it was leaving AIM, something that few could blame it for even if true. However, the company is proving with recent news including today’s, that momentum is gathering on the contract front.
Premier African Minerals (PREM) announced a subscription today for 2,700,000,000 new ordinary shares to raise approximately £540,000 before expenses at an issue price of 0.02 pence per new ordinary share. It remains of fundamental importance that Premier continues to support all essential operational requirements at both Premier and Zulu Lithium and Tantalum Project. PREM said this subscription will provide working capital to both support essential operational requirements at Zulu and also allow an initial start to the infrastructure and other associated requirements for the installation of the additional float cells and assist in plant readiness for the limited test run that has been planned.
Comment: If nothing else one has to hat tip George Roach for the kind of persistence and determination with regard to funding PREM that makes Robert The Bruce appear flaky. Let’s see how many weeks / days this latest half a bar lasts.
Burberry (BRBY) released its Q3 Update. BRBY said: since launching Burberry Forward in November, we have moved at pace to advance our strategy to reignite brand desire, improve our performance and drive long-term value creation. We are encouraged by the response to our “It’s Always Burberry Weather” outerwear campaign and “Wrapped in Burberry” festive campaign. These activations resonated with a broad range of luxury customers leading to an improvement in brand desirability and strength in outerwear and scarves. The acceleration of our core categories reinforces our belief that Burberry has the most opportunity where we have the most authenticity and that our strategic plan will deliver sustainable, profitable growth over time. However, we recognise that it is still very early in our transformation and there remains much to do.
Comment: Given that the Burberry brand is tired to say the least, and that the lay of the land for luxury brands is always going to be difficult to anticipate or control, the company’s recent campaigns deserve a thumbs up. This may be why the shares are up some 40% off their September floor, and seem set to rebound further.
Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mining development Company with an extensive land package of gold and strategic mineral assets across Southern Greenland, is pleased to announce the release of the third episode of its South Greenland mining documentary series.
In the third episode titled “Gold in Greenland – Dust to Doré”, Eldur Olafsson, CEO of Amaroq, discusses the challenges and breakthroughs on the Company’s journey to achieving first gold pour at the Nalunaq gold mine in November last year.
The third episode, along with previous episodes, are available on the Company’s website:
https://www.amaroqminerals.com/investors/gold-in-greenland/
Mobile Streams (MOS), the AIM quoted mobile content and data intelligence company, announced the recent purchase of shares by three directors on 17 January 2025,
Comment: Three directors buying around the 0.37p level, not only gives further confidence to the market regarding the business model of the group, but also validates the strong rally the shares have witnessed in recent months.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
