Tekcapital PLC - London-based intellectual property investment company - Says MicroSalt Ltd, of which it owns 97%, ‘has been making steady progress’ towards an initial public offering. ‘Advanced discussions’ with commercial partners are in progress, with hopes that multiple products using MicroSalt will launch this year.

Lucyd Ltd and its US subsidiary Innovative Eyewear Inc, of which Tekcapital holds about 40% of shares, has agreed a multi-year global licensing deal with Authentic Brands Group. In June Lucyd successfully raised $4.7 million to launch smart eyewear collections under its Nautica, Eddie Bauer and Reebok partnerships. Expects the Nautica Powered line to launch in the fourth quarter, and for the other two to launch early next year.

Finally Belluscura PLC, of which Tekcapital owns about 11%, yesterday said it received purchase orders for over 6,500 of its Discov-R portable oxygen concentrator, representing about $15 million in potential revenue.

Current stock price: 10.28 pence

12-month change: down 66%

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