ImmuPharma (LON: IMM) says the preclinical research programme for autoimmune therapy P140 should pave the way for earlier, more accurate diagnostics, as well as better identification and improved monitoring of patients. Detailed data is not being published. The share price jumped 223% to 3.55p.
Floorcoverings supplier Victoria (LON: VCP) still expects second half trading to be stronger than the first half through a combination of management actions and slightly higher demand. Annualised cost savings should be £32m by the end of March 2025 with a total of more than £80m anticipated by 2027. Consensus 2024-25 operating profit remains at £31m, rising to £74m next year. Joe Scribbins has been appointed to the board to replace Blake Ressel as the representative of Koch Equity Development. Morgan Stanley has raised its stake from 13% to 14.2%, while Saqib Karim has increased his shareholding from 5.26% to 6.13%. The share price recovered 60.6% to 136.2p, which is the highest it has been since September.
Dowgate has raised its stake in washing machine technology developer Xeros Technology Group (LON: XSG) from 5.42% to 10.25%. That is the highest the price has been for nearly three months.
Mindflair (LON: MFAI) has an indirect interest in Infinite Reality via a 13% investment in the first Sure Valley Ventures fund and a 6.1% interest in Sure Ventures (LON: SURE), which owns 25.9% of the Sure Valley Ventures fund. In July 2024, Infinite Reality acquired investee company Landvault for $450m and Sure Valley Ventures retained a stake. Infinite Reality has raised $3bn at a valuation of $12.25bn. The previous valuation was $5.1bn. Having reached 1.375p when it opened on Friday, the share price ended the week 37.5% higher at 0.825p. There were 225 million shares traded on Thursday and Friday.
FALLERS
Downhole oil and gas technology developer Enteq Technologies (LON: NTQ) says testing of the SABER rotary tool results in the requirement for further engineering modifications. Delays to the start of active test drilling with an Australian customer mean that the timing of revenues is uncertain. The drilling could begin in April. There are also additional costs. This means that cash will not last as long as previously expected and Cavendish has pulled its forecasts. Enteq was expected to move into profit in 2026-27. The share price dived 76.7% to 0.77p.
Early in the week, legal services provider RBG Holdings (LON: RBGP) terminated the consultancy agreement of Ian Rosenblatt due to breaches of contract and offensive behaviour. He has restrictive covenants lasting until July 2028, but he was identified as owner of AWH Acquisition Corp, which is regulated as a firm of solicitors that changed its name to Rosenblatt Law. He is a director of this company along with former RBG Holdings director Tania MacLeod. RBG Holdings later said that it was shown that he was not involved with the new company until 19 December. Ian Rosenblatt had requisitioned a general meeting to remove Jon Divers as chief executive of RBG Holdings. The company is in talks with its lender and hopes to secure the funding it requires for the business. At the end of the week, RBG Holdings said it had entered into an exclusivity period with Ian Rosenblatt for the sale of the Rosenblatt brand business to Rosenblatt Law. Ian Rosenblatt will withdraw his winding up petition and the general meeting notice. This exclusivity lasts until 24 January. The share price declined 61.8% to 1.05p.
Data and marketing services provider Jaywing (LON: JWNG) has sent out the circular to gain shareholder approval for the cancellation of the AIM admission. This follows a requisition notice by 29.5% shareholder Michael Ashcroft and the company has decided that the departure from AIM is in the best interests of the shareholders. The general meeting is on the 5 February. The share price is 58.3% lower at 0.625p.
Global Petroleum (LON: GBP) has raised £1.5m via a placing at 0.225p, while a retail offer generated a further £51,000. This means that there is enough cash to meet work programme commitments for the Juno project in Western Australia, where it is seeking intrusion related gold systems similar to Havieron. The company is negotiating with a potential farm-out partner for PEL94 in Namibia. The share price slipped 35.7% to 0.2025p.