Alliance News: Rotork (ROR) surged 67% to the top of the FTSE 250 after ABB agreed to acquire the flow control specialist for 506 pence per share in cash. The deal values the Bath-based company at GBP4.14 billion on a fully diluted basis, a 73% premium to Wednesday’s closing price.
Gooch & Housego (GHH) jumped 38% after agreeing to a cash acquisition by Arlington Capital Partners at 1,234.9 pence per share, including a 4.9 pence interim dividend. The deal values the photonics technology company at GBP345.6 million on a fully diluted basis, with an enterprise value of GBP400.5 million.
Comment: A bird in the hand is worth two takeovers in a day. While journalists who do not know what they are talking about / don’t like people making money, will complain about the ongoing exodus from the stock market. M&A is what the market is all about. What needs to be done is to convince fresh companies to come to market, rather than stay private. Not an easy task, given the cost, the red tape, and the culture of wanting to see people who are ambitious fail, especially if you come from the wrong background.
Ocado (OCDO): (The Times) Tim Steiner, the co-founder and chief executive of Ocado, and Adam Warby, the chairman of the technology and retail group, will present a united front to the City this morning. The pair will present the group’s interim results to analysts and investors — less than two weeks after Steiner fought off efforts by Warby to replace him after a 90 per cent fall in the share price over the past five years.
Comment: It must be awful for a founding CEO to try and be ousted by a Chairman that he has appointed to presumably improve a company, to then be on the receiving end of moves to remove him. One can think of nothing worse. At least in the case of Ocado, Tim Steiner managed to hang on. One pities those who are not so resilient. That said, today’s share price slump and the ongoing promise of jam tomorrow and profitability, still weigh heavily on a Dotcom relic that has been unable to prove the model, even with first mover advantage and blank cheque institutional investors.
Shoe Zone (SHOE) announced that over the last two months of trading (May & June), the Company achieved sales ahead of market expectations. This was aided by the Company’s warehouse closing down sale and favourable seasonal weather at half term. As a result of the higher sales, the Company’s cash position has also improved, with the Board continuing to monitor cash management and deployment going forward. Accordingly, the Board now expects an adjusted loss before tax of no greater than £1.0m for the financial year ending 3 October 2026, an improvement on the previous guidance of an adjusted loss before tax in the range of £1.0m – £2.0m announced on 22 April 2026.
Comment: Although SHOE has had a boost in the spring with the good weather, with the heatwave one would imagine that the only people buying shoes would be of the sandal variety, or doing so to throw at the England football manager in the wake of yesterday’s kamikaze performance against Argentina. Of course, a £1m – £2m loss these days is chicken feed.
Somero® (SOM) provides the following update on trading ahead of announcing its results for the six-month period ended 30 June 2026 on 8 September 2026. The Board is pleased to report better-than-expected trading in H1 2026, as improved conditions seen toward the end of 2025 continued through the first half, primarily reflecting continued stabilization in US private non-residential construction, the Company’s largest market.
Comment: Given that only five people know SOM or what it does, it may have been helpful to say this in the opening line. That said, the trademark for a brand that hardly anyone has heard of in case someone steals the name is cute. But at least the shares have finally bounced off their lows.
Funding Circle Holdings plc (FCH) announced its Half Year 2026 Trading Update. Lisa Jacobs, CEO of Funding Circle, said: “It’s been another standout six months for Funding Circle. We’ve built upon last year’s momentum with strong revenue and profit growth, driven by our continued product development and market demand. Small businesses power the UK economy, driving innovation, creating jobs and fuelling regional growth. We’re proud to have helped a record number of businesses in H1 access the finance they need to win. Our Term Loans business is highly cash-generative, which has enabled us to scale our FlexiPay and Card products. We remain focused on profitable growth – backing even more small businesses across the UK with the funding they need to succeed.”
Comment: An excellent growth situation, one of the best on the London market in recent times, with the share price chart flagging this change from a small cap to a blue chip ahead of time. Makes one proud to be British, not something one can say, or is even allowed to say these days. Above 180p, the next chart resistance is 2019’s 250p plus, a decent end of 2026 target.
Neoterra (TERA): Those good chaps at Zeus issued a research note on TERA.
Comment: Despite the recent share price decline, TERA remains a compelling play in its space, especially with its charming, French, CEO. Cedric Simonet, someone who has worked tirelessly to deliver shareholder value.
Greatland Resources (GGP) will lodge its Quarterly Activities Report for the June Quarter 2026 with the ASX on Wednesday, 29 July 2026. Greatland will present the Quarterly Activities Report via a webcast for shareholders, research analysts, media and other interested stakeholders on Wednesday, 29 July 2026 at GMT 12:30am / BST 01:30am (8:30am AWST / 10:30am AEST on Wednesday 29 July 2026), followed by a Q&A session.
Comment: Perhaps rather counterintuitively, it has been better to travel than arrive as far as the almighty bull run at GGP, with the shares now below their 200 day moving average at 581p. This may be a factor of the softening gold price, although even this time last year people would have killed for the yellow metal being at $4,000.
Thor Explorations Ltd. (THX) provided its second quarter 2026 interim operational update for the Segilola Gold Mine, located in Nigeria, and for the Company’s mineral exploration properties located in Nigeria, Senegal and Côte d’Ivoire, for the three months to June 30, 2026. FY 2026 production guidance range maintained at 75,000 to 85,000 oz of gold. FY 2026 All-in Sustaining Cost guidance range maintained at $1,000 to $1,200 per oz. Over 20,000 metres of drilling programs carried out across the Company’s exploration portfolio with results to be released in the current period.
Comment: All cashed up, low ASIC, production high, and drill baby drilling, it is all going on at THX. The only disappointment is how heavily geared to the gold price the shares appear to be, even though this is an expanding company and such considerations should be of secondary concern.
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.
