Crypto app developer Tap Global Group (LON: TAP) shares jumped 336% to 3.05p. The company has appointed Peter Wall as strategic adviser, and it is intended that he will become chairman. He used to be chief executive of Argo Blockchain. In the year to June 2024, unaudited revenues were £2.67m and they continue to rise. Chief executive Arsen Torosian will take on the same role at the Gibraltar-based subsidiary once regulatory approval is received.
Aquis Exchange (LON: AQX), which operates the Aquis Stock Exchange, is recommending a bid from rival exchange trading business SIX Exchange. SIX is mainly interested in the technology that Aquis has developed, but it suggests that there is potential to develop the Aquis Stock Exchange as a pan-European market. The offer for Aquis Exchange is 727p/share in cash, which values the company at £225m. There had been several previous proposals from SIX. The share price soared 112% to 710p, which is slightly higher than the price quoted on AIM.
Ananda Developments (LON: ANA) chief executive Melissa Sturgess bought 2.02 million shares at an average price of 0.32p each. She has a 9.92% shareholding. The share price rose 12.5% to 0.36p.
Marula Mining (LON: MARU) was the overall winner of the Aquis Showcase 2024 event. The share price improved 2.44% to 5.25p.
FALLERS
Aquaculture technology developer OTAQ (LON: OTAQ) says delays in orders mean that 2024 revenues will be lower than expected. Dowgate forecasts a drop from £4.4m to £3.1m (previously £4.2m) this year and a £1.8m loss, up from £1.2m in 2023. There should still be net cash of £100,000 by the end of the year. The orders should fall into 2025. Costs continue to be reduced and annualised savings of £500,000 have been made. The board is seeking shareholder approval to leave Aquis. The share price slumped by three-quarters to 0.75p.
Mendell Helium (LON: MDH) has completed the sale of health business. M3 Helium, which Mendell Helium has an option to acquire, says the potential flow rates from the Rost 1-26 well in Kansas could exceed previous expectations. Th share price declined 18.7% to 3.25p.
Valereum (LON: VLR) won the Retail Choice award at the 2024 Aquis Showcase event. It outlined the tokenisation of markets and development of technology to transform global finance. There has been a positive result of the frack on the Nilson well and production has steadily risen. The share price fell 10.4% to 10.75p.
Transport electrification technology developer Equipmake (LON: EQIP) says Tony Ratcliffe will leave his role of finance director at the end of the month. The share price weakened 4.55% to 2.625p.
Pubs operator Daniel Thwaites (LON: THW) increased interim revenues by 5% to £63.5m and although pre-tax profit declined, excluding gains on interest rate swaps and property disposals or income on pension assets, it improved from £6m to £6.7m. Net debt was £71.2m at the end of September 2024 and it continues to invest in its pubs and hotels. The dividend was raised from 0.85p/share to 0.9p/share. There has been weaker consumer confidence since the summer. The National Living Wage and National Insurance hikes, along with the reduction in business rate relief, will hit the business and there is limited scope to increase prices. That is a problem for the next financial year. The share price dipped 2.86% to 85p.