River Global (LON: RVRG) plans to sell the asset management business it has built up to Liontrust Asset Management (LON: LIO). The initial consideration will be £7.6m in Liontrust shares, followed by up to £2.1m shares depending on certain revenues being achieved. The deal will also release capital from the business. The Liontrust shares will be distributed to A share holders. The B shares are unaffected. The remaining interest will be a structured 30% interest in Parmenion, which is a high growth investment platform. Shareholders and the FCA have to approve the deal. The A shares jumped 29.6% to 4.375p, while the B shares improved 4.41% to 35.5p. Liontrust shares rose 4.9% to 257p.
Zambia-based lime producer Firering Strategic Minerals (LON: FRG) says kiln 2 performance continues to improve and discharge rates exceed 60 tonnes each day. Work has been commissioned on kilns 3 and 4. Both the kilns should be up and running by the end of the year. The limestone milling circuity installation could be commissioned in the third quarter. The share price soared by one-third to 1.8p.
Market research services provider System1 (LON: SYS1) is trading in line with expectations and strong momentum has enabled a forecast upgrade for 2026-27. There have also been cost reductions. The current year forecast is maintained at £2.1m, down from £5.2m. A pre-tax profit of £4.5m is expected for 2026-27, up from £2.7m previously, based on unchanged revenues of £39.1m. The share price increased 20.3% to 255p. Brave Bison (LON: BBSN) bought a 27.85% stake in Systems1 from the founder. The Brave Bison share price dipped 0.66% to 75.5p.
Botswana Minerals (LON: BMIN) had £60,000 in cash at the end of 2025, due to a rise in creditors offsetting the interim loss. There is potential for growth from copper interests. The share price gained 16.7% to 0.245p.
FALLERS
Wishbone Gold (LON: WSBN) shares dived 35.1% to 42.5p because of disappointment with the drilling results of the Red Setter project in Western Australia, which is near to the Telfer mine.
CPPGroup (LON: CPP) says it has been told that it will not receive any of the potential $5m deferred consideration for its former business in India. CPPGroup is considering its options, but if it does not receive any cash it will have to raise funding within 12 months. The share price slumped 31.8% to 50.5p.
Weak M&A activity has hit DSW Capital (LON: DSW) and Shore has slashed its expectations for this year. DSW blames the conflict in Iran saying that it has led to deals being postponed. The DR Solicitors business has grown revenues by 11% and is helping to diversify the source of revenues. The pre-tax profit forecast is cut from £2.36m to £1.31m. The dividend is still expected to be 3.3p/share. Next year’s forecast has been maintained at £2.55m. At 45p, down 18.2%, the shares are trading on 14 times prospective 2025-26 earnings.
Physiomics (LON: PYC) has received a general meeting request from Michael Whitlow, who owns 13.7%. He wants to appoint Nicholas Tulloch, Ian Bagnall, Martin Gouldstone and himself as directors and remove Dr Jim Millen, Shalabh Kumar, Dr Tim Corn, and Dr Peter Sargent, as long as least two of the new directors are appointed. The share price fell 7% to 0.465p.