Precision engineer TEK4 Group (LON: TEK4) joined AIM today after raising £2m at 200p/share. Existing shareholders raised £22.75m and the market capitalisation is £41m. The company manufactures hole-drilling systems for aero engine and gas turbine components. The cash raised will help to grow the existing business and move into medical devices. A new factory will grow capacity by 75%. The share price is 38.8% higher at 277.5p.
Catenai (LON: CTAI) shares recovered 21.7% to 0.07p following news that investee company Alludium has secured Sure Valley Ventures as a paying customer of its agentic platform. On Friday the share price slumped because Innovate UK Loans had filed for the appointment of an administrator for investee company Klarian. Catenai provided a £450,000 unsecured convertible loan note facility to Klarian. When interest and fees are included, the amount owed is more than £762,000.
Atlantic Lithium (LON: ALL) says Elevra Lithium has completed the transfer of the rights to Ewoyaa rights to Zhejiang Huayou Cobalt Co., Limited, which gives it a 22.5% interest in lithium projects in Ghana. The purchaser will sole fund development costs up to $66m under stage 3 obligation. This can take its stake to 50%. That would leave Atlantic Lithium with 50% of the Ewoyaa lithium project. The share price improved 11.5% to 15.5p.
Helix Exploration (LON: HEX) has started drilling the Ross#1 well at the Rudyard field in Montana. This will take 21 days. There are three helium producing wells on the field with additional sites being assessed. The United States Department of Energy has designated helium as a critical material. The share price increased 10.1% to 30p.
FALLERS
Shares in Sareum (LON: SAR) returned from suspension down 38.2% to 17p after it raised £3.2m at 14p a share. A retail offer could raise a further £100,000. The clinical-stage biotechnology company is developing next-generation kinase inhibitors for autoimmune disease and cancer. It will finance the SDC-1801 autoimmune disease inhibitor programme to a Phase 2-ready position and work on the neuroscience programme.
Hostels operator Safestay (LON: SSTY) says trading remains below original expectations even though there have been signs of improvement in recent weeks. Asset disposals and financing alternatives are being assessed. Costs are being reduced. Net debt was £16.2m at the end of the first half and subsequent disposals have reduced debt to £9.1m. Hostels in Lisbon and Brussels are being refurbished. This follows the departure of founder Larry Lipman. The share price slipped 29.4% to 6p.
RiverGlobal (LON: RVRB) B shares fell 8.84% to 33p after management announced the intention to realise the structured 30% equity interest in Parmenion Capital Partners LLP and then wind up the company. The company has received £1.1m in cash for the final payment for the share of RGH to Liontrust. A general meeting will be convened to gain shareholder approval for leaving AIM before the end of the year.
Monoclonal antibodies developer Bioventix (LON: BVXP) reported flat revenues of £13m, which was better than expected. Pre-tax profit was also flat at £10.3m. Cavendish expects little change in revenues and profit this year. Long-term growth will come from the tau/neuro antibody portfolio. The share price declined 6.25% to £18.75.