AIM movers: California contract for Kooth and ex-dividends

Digital mental health company Kooth (LON: KOO) has won a significant contract in California covering 13-25 year olds. Services will be provided to the Behavioural Health Virtual Services Platform, and they will launch in January 2024. Specific terms are still to be finalised, but there should be a material impact on annualised recurring revenues from 2024. The share price jumped 37.6% to 236p.

Hurricane Energy (LON: HUR) has agreed a bid from Prax Exploration & Production, which values the oil and gas producer at up to £249m. There will initially be a 3.32p a share transaction dividend and cash consideration of 0.83p a share, totalling 4.15p a share. There is then a supplementary dividend of 1.87p a share. Shareholders will also receive a deferred consideration unit worth up to 6.48p a share. The deferred consideration is based on 17.5% of future net revenues earned by Hurricane between 1 March 2023 and 31 December 2026. The deferred consideration will be paid twice a year in arrears. The share price moved up 6.33% to 7.305p.

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Evgen Pharma (LON: EVG) says data evaluating anti-tumour activity of SFX-01 for childhood tumours will be presented in Switzerland. It has been shown to be effective as a single agent and in combination with radiotherapy. The share price increased 7.89% to 4.1p.

Inspirit Energy Holdings (LON: INSP) says stage two testing of the Inspirit Charger waste heat recovery unit should be complete by April and the third stage completed by the end of May. The intended peak performance is 131kw. Discussions are ongoing with potential partners for future developments. The share price is 1.52% higher at 0.0335p.

Coal miner MC Mining (LON: MCM) has changed its JSE sponsor to BSM Sponsors. It was previously Investec Bank. The share price has fallen a further 23.3% to 7.75p, following yesterday’s announcement that the company is considering options to raise finance for the Makhado coking coal project in Limpopo. Further finance is required for the plant to be built. This could be through selling a stake in the project or issuing shares or raising debt.

Burford Capital (LON: BUR) shares have slumped by 14.7% to 529.5p, having been below 500p at one point. More than $300m was received in cash by the litigation funder last year and new business activity is at record levels. Cash and marketable securities have fallen from $315m to $210m. A dividend of 6.25 cents a share has been announced. Modifications are being made to the fair value approach to valuations. That could lead to a change in NAV.

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IOG (LON: IOG) believes that it has enough cash for the next year, having announced a pre-tax profit of £38m for 2022, but this relies on continuing high gas prices. However, gas process have fallen since the beginning of the year and that could result in a covenant breach in the interest cover ratio. Debt requires refinancing in September. The share price has fallen 5.32% to 4.45p.


First Property (LON: FPO) is paying a dividend of 0.25p a share and the share price is unchanged at 24.5p.

Globalworth Real Estate Investments (LON: GWI) is paying a dividend of 15 cents a share and the share price rose by 4 cents to 288 cents.

Heavitree Brewery (LON: HVTA) is paying a dividend of 3.5p a share and the A share price is unchanged at 100p.

Impellam (LON: IPEL) is paying a special dividend of 77.8p a share and the share price has fallen by 57.5p to 655p.

NWF (LON: NWF) is paying a dividend of 1p a share and the share price is unchanged at 270p.

Shoe Zone (LON: SHOE) is paying a dividend of 3.3p a share and the share price fell 10p to 227.5p.

Tristel (LON: TSTL) is paying a dividend of 2.62p a share and the share price rose 1p to 331p.

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