Mercantile Ports and Logistics (LON: MPL) has appointed former US government and CIA administrator Marty Martin to the board and Karanpal Singh has stepped down. The company believes that Marty Martin will help with the ongoing legal process in relation to try to regain control of the Karanja Terminal & Logistics subsidiary. Mercantile says it can repay the related debt, but the proposal was rejected by the consortium of banks. They prefer an alternative plan from Adani Ports and Special Economic Zone Limited and that has been approved by the courts. The company has appealed and a further hearing is due on 8 June. The share price jumped 324% to 1.8p.
Vossloh has launched a recommended bid for Cordel (LON: CRDL). The 12.4p/share cash offer values the transport infrastructure analytics technology provider at £29m. The share price has not been that high since the beginning of 2022. Vossloh is involved in the rail sector and wants to provide digital services as well as move into the US market. Cordel and Vossloh are working together in Europe. The share price soared 94.2% to 11.65p.
Bradda Head (LON: BHL) and Tyfast Energy have signed a memorandum of understanding to develop a domestic US lithium supply chain for next-generation LVO battery anodes. Bradda Head has lithium assets in Arizona and Nevada, and he will assess feedstock and processing pathways. Tyfast will focus material qualification and performance testing. The share price gained 65.1% to 3.55p.
IT managed services provider Tialis Essential IT (LON: TIA) reported 2025 results showing a decline in revenues from £20.8m to £17.7m and pre-tax profit was one-third lower at £800,000. Net debt was reduced to £2.4m. Organic growth will be complemented by acquisitions. Multi-year contracts have been won that will enable a recovery in revenues and profit. A capital restructuring would enable dividends to be paid in the future. The share price rose 59.7% to 53.5p.
FALLERS
Dotlines Global (LON: DOTL) joined AIM last Tuesday after completing the reverse takeover of Main Market company Ikigai Ventures. Dotlines and Audra Solutions were acquired for £55.7m in shares and the enlarged share capital was valued at £57.9m at the issue price of 9.5p/share. Dotline;s Sohoj platform is a digital lifestyle offering for B2C and B2B2C customers with a focus on migrant populations in Malaysia. There are plans to expand the platform into the UK and Saudi Arabia. This generated 2024 revenues of £20.5m and pre-tax profit of £998,000. The latest interim revenues are £10.3m, while pre-tax profit was £713,000. The share price was suspended at 42p and started trading on AIM at 10p. The share price improved to 13.5p, but that was still 67.9% lower than the last Main Market price.
Telematics company Microlise (LON: SAAS) is focusing on direct business as renewals from OEMs are suffering pressure on pricing and the loss of contracts. Direct annualised recurring revenues were 16% higher, despite delays to some contracts, but this was partly offset by a 13% reduction in the OEM figure. Pre-tax profit slumped from £6.5m to £2.6m. Net cash increased to £16.7m. Capital investment will be sharply higher in 2026 and 2027 and that will use up some of the cash. The final dividend was raised from 1.24p/share to 1.3p/share. Pre-tax profit could recover to £3.3m this year. The share price slipped 31.1% to 42p.
ValiRx (LON: VAL) is raising up to £1.155m at 0.2p/share. That includes a retail offer of up to £150,000. The drug developer is raising the cash to push forward the development of its IP. The share price dropped 24.5% to 0.2p.
Telecoms services provider Maintel (LON: MAI) has raised £3m at 80p/share and a further £2m via a three-year convertible loan note. A retail offer could raise up to £1m. A new bank facility agreement is a condition of the placing. This will dilute current year earnings by 13% to 8.1p/share before any shares taken up in the retail offer. The share price declined 22.9% to 92.5p.