AIM movers: Chamberlin raises cash for working capital and buying activity in Fiinu

There has been significant buying activity in fintech Fiinu (LON: BANK) this morning, although the largest deal was worth less than £3,000. This is already the most shares traded on a single day since July. There were recent board changes and Fiinu still wants to apply for a banking licence, but it will have to find up to £42m to fund the application. The share price jumped 42.3% to 0.925p.

Eden Research (LON: EDEN) has gained approval for Mevalone in California. Mevalone is a biofungicide that treats botrytis on grapes. In 2021, 650 million gallons of wine was produced, and the addressable market is estimated to be €94m. The share price increased 17.4% to 6.75p.

- Advertisement -

Golden Metal Resources (LON: GMET) has outlined a new high-grade gold, silver and copper bedrock discovery at its Garfield project in Nevada. This is based on rock samples from recently secured claims. The discovery area is called the Pamlico Au zone. The share price rose 10.8% to 10.25p.

Digital media company Digitalbox (LON: DBOX) says 2023 results were in line with downgraded expectations. It appears that the UK advertising market problems are easing. Google-related restrictions on Entertainment Daily have ended and new acquisition is starting to contribute. The full year results will be published on 26 March. The share price improved 11.9% to 3.75p.


Foundries operator Chamberlin (LON: CMH) is raising £830,000 at 2p/share. The share price slumped 31.6% to 1.95p. Executive director Trevor Brown is acquiring 3.55 million shares. This will provide working capital to help finance the new long-term contracts that have been won in recent months. It will also help to pay the cash owed to HMRC. A pre-tax profit of at least £800,000 is anticipated for 2023-24.

- Advertisement -

Touch sensors manufacturer Zytronic (LON: ZYT) reports a 30% decline in full year revenues to £8.6m and it fell back into loss. Gross margins were hit by higher raw material costs and product mix. Sales continue to decline this year. There are signs that there could be improvement in the second half. Net cash is £4.7m. The share price fell by one-quarter to 60p.

Intelligent Ultrasound (LON: IUG) reported 2023 revenues of £11.2m, which is below expectations of £12.5m. Like-for-like revenues grew by 38%, when one-off revenues are excluded. AI revenues nearly trebled to £2m. The shortfall was in the ultrasound simulation business, where sales in Europe and China were lower than expected. There was £3m in the bank at the end of 2023. AI sales should double this year and simulation sales are also expected to grow. A 2024 pre-tax profit of £500,00 was forecast, but this was based on revenues of £17.7m. Revenues guidance is between £14m and £17m, so a profit is unlikely this year. Management says it has enough cash to achieve profitability. The share price dipped 14.6% to 8.75p.

Yesterday afternoon, Mediazest (LON: MDZ) raised £120,000 at 0.04p/share. The share price slipped 5.88% to 0.04p. This cash will finance the new Netherlands subsidiary and provide investment in sales and marketing.

Latest News

Subscribe to the UK Investor Magazine email newsletter

Register for our free email newsletter and receive the latest investment news, podcasts, event information and offers.

More Articles Like This

Tagdiv Cloud library - template content.