Sutardja Sehat executive director of computer chip technology developer Alphawave IP (AWE), has splashed out £1.39 million to acquire 875,178 shares. The transactions was made though the Delaware incorporated Sutardja Family LLC.

Following the transaction, the entity's total holding in the company was 85,181,376 shares, representing 12.7% of its issued share capital.

Toronto-based Alphawave designs high-speed data transmission technology and then licences it to semiconductor designers and manufacturers, who then pay a royalty fee for every microchip produced.

Alphawave IP shares fell 14%, after the company said its auditor has requested more time to finalize procedures on its full year results.

ROBUST RESULTS

The company said KPMG has requested the additional time due to Covid-related staff absences. However the full year results (29 April 2022)  were robust.

Alphawave IP said revenues more than doubled in 2021 to $89.9 million as it attracted record bookings.

The high-speed connectivity company said  pretax profit was $23.1 million compared with $16.8 million in 2020.

Trading in the first quarter of 2022 has seen sales accelerate, with total bookings of $30.7 million, a quarter-on-quarter increase of 20%. This was driven by expansion in North America.

The stock has fallen by 44% over the last year, but recovered by 10% over the last month.

BURFORD CAPITAL 

Non-executive director Christopher Halmy of litigation finance provider Burford Capital (BUR:AIM) has acquired shares worth over $100,000.

Halmy acquired 12,500 shares on the New York stock exchange at a price of $8.10 on 26 May, equating to a value of $101,250.

Its disclosure came on the same day the company extended its partnership with a sovereign wealth fund for another 12 months.

Burford recently announced it had raised capital for a new fund from a range of institutional investors.

The fund is to be invested in lower risk, lower return assets, which are expected to produce returns in the 12%-to-20%  range. Investments are to be made in pre-settlement cases.

Over the past year the share price has fallen by 19%, however it has found some support recently, and has risen by 7.4% over the last week.

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Issue Date: 27 May 2022