Musical instruments retailer Gear4Music (LON: G4M) has acquired assets from the administrators of GAK (GAK.co.uk Ltd and The Guitar, Amp & Keyboard Centre Ltd). The stock purchased cost £600,000 but could have a value three times that figure. Gear4Music had been hit by discounting by GAK. There are no plans to use the GAK trading brand. There has been an improvement in trading with sales growth in double digits in recent weeks. The share price recovered 17% to 137.5p.
Mercia Asset Management (LON: MERC) has increased inflows to its assets under management and they have passed £2bn. Increased efficiency means that pre-tax profit has been upgraded to £8.5m. There is £40m in cash and a revaluation of the direct investment portfolio will be published with annual results on 1 July. Mercia Asset Management wants to realise 70% of the current direct portfolio. The share price increased 15.7% to 29.5p.
The first quarter update from Cirata (LON: CRTA) shows the strongest bookings since the first quarter of 2019. They were $3m, including data integration bookings of $2.4m. The cash burn was down to $1.4m. Annualised cash overheads have been reduced to less than $17m. Cash was $8.3m at the end of March 2025. The share price rose 9.83% to 19p.
IXICO (LON: IXI) says interim revenues were 26% ahead at £3.2m and the medical imaging analytics company is on course to beat guidance. The order book was worth £13.1m at the end of March 2025, while cash was £5m. The loss was reduced to £700,000. The share price rebounded 9.52% to 8.625p.
FALLERS
Jarvis Securities (LON: JIM) is selling its execution only broking business to Interactive Investor for £11m and winding down its clearing and settlement operations. Completion will happen when client agreements are transferred and that should happen in early July. The board believes that winding up the remaining operations and returning the remaining cash to investors is the best outcome. It will take 15 months to wind up the business. There are no plans to make an acquisition and shareholder approval will be sought for cancelling the AIM quotation. The share price had already fallen yesterday afternoon and it fell a further 27.8% to 13p.
Strategic Minerals (LON: SML) has raised 31m at 0.3p/share. The proceeds will be used to develop the Redmoor tungsten tin copper project in Cornwall and for working capital. Zeus has been appointed as joint broker. The share price decreased 18.8% to 0.325p.
Sales were weak in February, but online women’s clothing retailer Sosandar (LON: SOS) says fourth quarter sales were in line with expectations. Full year sales have fallen by one-fifth, with a 10% decline in the fourth quarter. Gross margins have improved, though. Six stores have been opened. Net cash is £7.1m. Singer has halved its pre-tax profit estimate for 2024-25 to £500,000. The 2025-26 figure is unchanged at £1.5m. The share price slipped 11.1% to 6p.
In the first quarter of 2025, Angus Energy (LON: ANGS) produced 411 million standard cubic feet of gas and 7,381 barrels of gas condensate from the Saltfleetby field, which was lower than the previous quarter. That is before the new booster compressor was commissioned. The Brockham field produced 2,150 barrels of oil. First quarter revenues of £5.32m are estimated. The share price dipped 7.41% to 0.25p.