AIM movers: CleanTech Lithium boss resigns and R&Q slumps into loss

Significant share buying of Ovoca Bio (LON: OVB) early in the morning pushed up the share price from its low. Selling meant that the share price slipped back but it is still 36.4% higher at 0.75p.

CleanTech Lithium (LON: CTL) chief executive Aldo Boitano has resigned, although he will be a consultant, and Steve Kesler has taken over on an interim basis. This follows the revelation he entered into a loan agreement with his shareholding in the company as security in August 2023, but this was not revealed at the time. He transferred his 9.4 million shares to a custodian account nominated by the lender. It is unclear if any of the shares have been sold. The share price increased 20.9% to 13.5p.

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Dr Graham Cooley has increased his stake in Distil (LON: DIS) from 7.07% to 8.18%. Yesterday, the spirits brands owner revealed that fourth quarter volumes declined by 47% and revenues were 23% down. The share price improved 18.2% to 0.65p.

Redx Pharma (LON: REDX) chief executive Lisa Anson bought 399,000 shares at 7.5p each, taking her stake to 562,183 shares. The general meeting to gain shareholder approval to leave AIM will be held on 19 April. The share price recovered 3.33% to 7.75p.


Bermuda-based R&Q Insurance Holdings (LON: RQIH) will make a significant loss this year. It is selling its joint venture to its partner Obra Capital. This will raise $27m in cash and Obra will give up $3m of preference shares in Randall & Quilter PS Holdings Inc. The disposal of the Accredited business should be completed by the summer. The share price slumped 45.5% to 2.995p.

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Coal miner Bens Creek (LON: BEN) is laying off workers at its mine in West Verginia, which will be operated on a care and maintenance basis. There are 44 employees being laid off and that is described as “a substantial number” of the employees at the mine. Management is in discussions with largest shareholder and offtake partner Avani Resources to provide further finance. The hare price fell 32.4% to a new low of 0.575p.

Technology investment company Tern (LON: TERN) raised £420,000 at 2.4p/share. Tern is exercising warrants in Wyld Networks. The share price declined 21.7% to 2.7p.

Premier African Minerals (LON: PREM) has raised a further £1m at 0.17p/share. Two previous fundraisings this year have raised £4.5m. This will help to finance the Zulu lithium and tantalum project in Zimbabwe. The share price slipped 4.15% to 0.185p.

Wealth management company Team (LON: TEAM) raised £136,000 at 20p/share in its retail offer. The total raised is £1.25m. This will fund acquisitions and deferred consideration. The share price is 3.75% lower at 19.25p.

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