26 January 2012 – interim results/fund raising
Although they don’t mean much in themselves, the group’s interim results for the six months to 31 October have confirmed that the group is continuing to make significant progress. During the period the group increased its holding in US company Parsortix to 90% and the latter’s blood separation device is continuing to develop well. A US patent has been awarded with other patents pending in all major economies worldwide. The group’s other portfolio companies, Geomerics (computer games graphics) and Novocellus (IVF embryo viability), have also performed well. During the period the group made a pre-tax loss of £1.8m mainly due to increased investments in the portfolio companies. Although ANGLE raised £1.25m during the period, to fund future developments it has raised another £1.2m today through a placing at 70p. The weakness in the share price today gives investors an opportunity to buy stock at an attractive level. BUY.