AIM movers: Epwin share buy back and and Warhammer disappointment for Frontier Developments

Audio visual services provider MediaZest (LON: MDZ) has won additional work with an existing international retail client. Further installations will be made in early 2024, with further installations in stores in Europe later in the year. The share price improved 13.3% to 0.0425p.

Tlou Energy (LON: TLOU) has produced the first gas from the Lesedi-6 well in Botswana. Experience of other wells enabled the well to be brought into production more quickly. This will provide additional gas for electricity generation. The electricity transmission line should be completed by the end of the year. The share price rose 9.38% to 1.75p.

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Building products supplier Epwin (LON: EPWN) is commencing a share buy back programme and says that 2023 figures are in line with expectations of a pre-tax profit of around £18m. The operating environment is not easy, but Epwin continues to generate cash. Up to three million shares will be bought back. The share price perked up 5.97% to 71p.

Professional service network DSW Capital (LON: DSW) reported a 31% decline in income from licensees in the first half due to much lower M&A activity, which still accounts for more than two-thirds of income. However, management is more optimistic about the second half with new teams and acquisitions making a contribution and other services generating more income near to the end of the tax year. Full year pre-tax profit is likely to be between £1.1m and £1.4m, compared with £1.4m last year. Although the interim dividend is lower, the total dividend for the year will be maintained at 3.76p/share. The share price recovered 5.94% to 53.5p, which is 54% lower than at the start of the year.


Scirocco Energy (LON: SCIR) shares are the worst performer on AIM after Roger Fulford reduced his stake in the energy company from 3% to 2.35%. The share price slumped 31.3% to

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Video games publisher Frontier Developments (LON: FDEV) says Warhammer: Realms of Ruin has under performed and that is a major contributor to the slashing of full year revenues guidance from £108m to £80m-£95m. There is likely to be a much larger loss than originally expected. There is still cash in the bank to help the company to cope with the disappointing performance. Video games development will be refocused on core areas. The hare price declined 18.9% to 159.4p and it has fallen by nearly one-third this year.

Gfinity (LON: GFIN) is selling its 27.5% stake in Athlos Game Technologies for £260,000 and this will save more than £25,000/month of funding contribution. The share price slipped 10.3% to 0.065p. The most recent fundraising was at 0.06p. Forward Partners (LON: FWD) has agreed an all-share bid from fellow technology investment company Molten Ventures (LON: GROW), valuing it at £42.1m. Molten Ventures is offering one share for every nine Forward Partners shares, which is equivalent to 31p/share when the bid was announced. The Forward Partners share price is 5.97% lower at 31.5p.At the end of September 2023, Molten Ventures had a NAV of 735p/share, while at the end of June 2023 Forward Partners had a NAV of 67p/share.

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