AIM movers: Eco (Atlantic) Oil & Gas halves on drilling failure

Eco (Atlantic) Oil & Gas Ltd (LON: ECO) shares more than halved to 19p after its Gazania-1 well, offshore South Africa, did not discover commercial hydrocarbons. Two other wells are planned for South Africa next year.

N4 Pharma (LON: N4P) is raising £1m at 2p a share. A broker offer could raise up to £1m more. The share price slumped by 26.8% to 2.05p. The cash will be used for the development work loading SiRNA onto Nuvec, plus for exploring possible acquisitions.

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Hardware supplier Samuel Heath & Sons (LON: HSM) reported interim revenues growing by nearly 10% to £7.56m, but the improvement case from currency movements. Pre-tax profit fell from £776,000 to £521,000 following the restoration of marketing spending to previous level and increased investment in product development. Net assets are £11.1m, including £3.5m of cash. The share price fell 13.5% to 450p.

Live Company Group (LON: LVCG) has appointed John Miller as its new finance director – a non-board position – and Jason Lee has invested £250,000 at 2.5p a share, taking his stake to 8.24%. This cash will provide additional working capital. Jason Lee has agreed to subscribe a further £750,000 at 3p a share in tranches between January and March next year. The share price fell 7.58% to 3.05p.

Griffin Mining (LON: GFM) recommenced operations at the Caijiaying zinc gold mine on 1 November, but there have been subsequent Covid-related restrictions. Full production and blasting restarted on 16 November. Management expects to produce 800,000 tonnes of ore this year, rising to 1.5 million tonnes in 2023. The share price declined by 4.86% to 68.5p.

Parsley Box (LON: MEAL) has published the circular for a general meeting to gain shareholder approval of the cancellation of the AIM quotation. Even so, the share price has jumped 54.6% to 2.55p. The meeting will be held on 14 December. The cancellation will save £400,000 a year.

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Home testing healthcare company MyHealthChecked (LON: MHC) is seeking shareholder approval for a capital reduction at a general meeting on 6 December. This will create distributable reserves so that dividends could be paid. The company also intends to use spare cash to buy back shares. The share price is 9.38% higher at 1.75p.

Share buy backs and director buying have helped the Tremor International (LON: TRMR) share price recover 7.06% to 291.2p following the disappointing third quarter trading statement earlier in the week. The shares have still fallen by more than one-fifth this week.

Agronomics (LON: ANIC) has risen a further 2.5% to 14.35p after Upside Foods gained US FDA approval for its cultivated chicken. This is the first cultivated meat to gain approval and Agronomics hopes that its investee companies involved in cultivated meat could also gain approvals.

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