Late last week, Catenai (LON: CTAI) proposed a sub-division of capital so that shares can be issued to raise money. The nominal value will be reduced from 0.2p to 0.01p. Catenai recently announced that it is raising £750,000 at 0.15p/share, including a £150,000 subscription by Sanderson Capital Partners. Director fees of £450,000 have been settle by the issue of 30 million shares. Catenai intends to invest in Alludium, which has developed a platform for AI process automation. Subject to shareholder approval, £500,000 will be invested in Alludium and a further £450,000 may be invested. That would be a 13% stake in Alludium in total. The share price rose 78.1% last week and it rose a further 21% to 0.345p.
Recent AIM admission Quantum Base Holdings (LON: QUBE) raised £4.8m at 23.1p/share and the shares had gone to a small premium. This morning, the share price jumped 17.7% to 30p. Quantum Base’s first commercialised product range is Quantum Identities (Q-ID), which provide what the company claims are near unbreakable and non-replicable authenticity tags that are better than competitor technologies such as QR codes and holograms.
Greatland Gold (LON: GGP) says directors and senior employees are surrendering 497.7 million options ahead of the listing on ASX. This will reduce potential dilution. The ASX recommends that non-executives should not have options. There will be a cash payment of 6.64p/option and 50% of the proceeds will be used to subscribe for new fully paid shares. This should be value enhancing. The share price improved 7.39% to 15.55p.
Hutchmed (LON: HCM) has completed patient enrolment for the phase II trial of savolitinib in MET-amplified gastric (stomach) and gastroesophageal junction (GEJ) cancer in China in patients who have received at least two lines of standard therapies. If the trial results are positive, Hutchmed will apply for marketing authorisation in China by the end of the year. The share price increased 8.73% to 230.5p.
ITM Power (LON: ITM) has raised guidance for the year to April 2025. Revenues are expected to be between £25.5m and £26.5m, compared with the previous range of £18m to £22m. Contract obligations have been achieved early enough to recognise revenues this year. Cash has been generated in the second half and cash should be up to £205m at the end of April 2025, up from £203m in October 2024. A decline had been expected. The EBITDA loss is still expected to be between £32m and £36m. The share price is 10.8% higher at 31.95p.
Marketing data analysis company Ebiquity (LON: EBQ) did better than expected in the second half, but pre-tax profit still fell from £9.7m to £6.5m. The first quarter of 2025 was ahead of management expectations. A modest recovery in pre-tax profit to £7.1m is forecast for this year and there is potential for further outperformance. The share price moved up 4.26% to 24.5p.
FALLERS
Oracle Power (LON: ORCP) has raised £319,000 at 0.018p/share. This cash will fund the development of projects in Australia and Pakistan. This follows positive news about the Australian gold projects and a renewal of the strategic memorandum of understanding for a green hydrogen project in Pakistan with China Electric Power. The share price slipped 25.5% to 0.0175p.
Software company Celebrus Technologies (LON: CLBS) says 2024-25 revenues will be lower than expected at $38.6m, down from $40.9m last year, but pre-tax profit was in line with expectations at $8.7m, up from $7.6m. Net cash was $31m at the end of March 2025, following a property sale generating $3.9m. Celebrus Technologies is changing its revenue recognition policies to a monthly basis, rather than annually in the month of signing the contract. Annual recurring revenues will rise by 14% to $18.8m this year. The share price fell 19.1% to 170p.