Seraphim Space Investment Trust PLC has seen a significant increase in its share price after announcing a share buyback program. The SpaceTech fund has appointed JPMorgan Securities PLC as its broker for the program, and it has the authority to repurchase up to 35.9 million shares, or 15% of its share capital. However, the company has stated that it will not fully utilize this authority.
Seraphim Space Investment Trust also clarified that it will not buy back shares at a premium to its net asset value. It highlighted several positive developments in its portfolio, with robust investment activity and a well-capitalized position into the medium term. The company expressed confidence in its GBP35 million cash reserves, which it believes will support its fundraising requirements in the next year to 18 months.
Trustpilot Group PLC, an online consumer reviews platform, has reported expectations of higher revenue and bookings in the first half of the year. For the six months that ended on June 30, the company anticipates a 15% rise in revenue to USD85 million from USD73 million the previous year, or 18% in constant currency. Trustpilot Group also reiterates its guidance for mid-teens percentage revenue growth for the whole year.
The company expects first-half bookings to have increased by 13% to USD98 million from USD87 million, or 16% in constant currency. Trustpilot Group now anticipates annual adjusted earnings before interest, tax, depreciation, and amortization to be at the top end of the range of market expectations, which it previously estimated to be between USD2.4 million and USD4.0 million. This is a significant improvement from the negative USD4.4 million reported in 2022.
On the other hand, Aptitude Software Group PLC, a software provider, experienced a decline in its share price. The company stated that its growth in annual recurring revenue has slowed due to higher levels of churn persisting from last year into the first half of 2023. In addition, CEO Jeremy Suddards will be stepping down, with regional North American CEO Alex Curran assuming the role of acting CEO.
Despite these challenges, Aptitude Software Group remains confident in meeting profit expectations for the whole of 2023. The company expects modest growth in both profit and revenue in the first half of the year. The board will begin a formal search process to find a replacement for the outgoing CEO.
In conclusion, Seraphim Space Investment Trust PLC has seen a significant increase in its share price following the announcement of a share buyback program, while Trustpilot Group PLC expects higher revenue and bookings. However, Aptitude Software Group PLC experienced a decline in its share price due to slower growth in annual recurring revenue and a change in leadership.
