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AIM movers: GRC International bid and ex-dividends

GRC International (LON: GRC) is recommending an 8p/share cash bid from Bloom Seed Bidco, which values the cybersecurity company at £8.6m. The bidder is a vehicle for technology investor Bloom, which can provide increased financial backing for the business. GRC joined AIM in 2018 at a time when there was investor interest in the cybersecurity sector. The flotation valuation was £40.2m at 70p/share. GRC has been loss making and never moved into profit. The share price recovered 53.7% to 7.375p.

Strip Tinning (LON: STG) has won a battery technologies contract from a German automotive motion technology manufacturer, that could have a lifetime value of £43m. This is for a cell contact system for battery pack modules for a US customer. This has already generated £1.7m in pre-production work. Production supply will start in the fourth quarter of 2025 with further pre-production revenues of £1m ahead of that time. There will be additional investment in engineering resources. Demand for glazing products has weakened and copper prices are rising. There will be a trading statement on 16 July. The share price improved 40.2% to 71.5p.

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Retailer N Brown Group (LON: BWNG) reported a 10% dip in 2023-24 revenues to £600.9m, but underlying pre-tax profit was 171% higher at £13.3m. That was helped by a reduction in depreciation and amortisation charges following asset impairments the previous year. Net debt was £236.3m at the end of March 2024. The decline in revenues has slowed and additional marketing is planned. The share price increased 19.4% to 17.85p.

Jadestone Energy (LON: JSE) says the Akatara gas processing facility, onshore Indonesia, is approaching final commissioning. The first gas should be processed in around a fortnight. Gas and LPG sales will start soon after that. The workover campaign on five Akatara wells has completed, and they will provide gas for the facility. The share price rose 9.92% to 33.25p.

FALLERS

Clontarf Energy (LON: CLON) has failed to move through to the next stage of the bids for the seven priority salt pans in southern Bolivia because of its offtake partner’s poor credit rating. Management hopes that it can argue the case that the credit rating is not relevant. The share price slumped 59.2% to 0.0145p.

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Oil and gas company Echo Energy (LON: ECHO) has entered into a £500,000 unsecured conditional convertible loan note with an institutional investor. This lasts 24 months. The first draw down is £80,000. There will be £50,000 of warrants issued that are exercisable at 0.0044p each with additional warrants issued as more cash is drawdown. The share price fell by one-quarter to 0.0033p.

Eyewear supplier Inspecs (LON: SPEC) expects first half revenues and profit will decline because the comparatives include restocking. There will be additional capacity in Vietnam in the second half. The share price declined 13.7% to 63p.

EnergyPathways (LON: EPP) says that the Marram gas development in the East Irish Sea is progressing and final investment decision later this year. First gas production could happen by the end of 2025. There are up to 35.3bcf of undeveloped 2P gas reserves. There are also plans for gas storage capacity and plans to apply for two further prospective gas storage areas. The share price slipped 6.12% to 2.3p.

Ex-dividends

Arbuthnot Banking (LON: ARBB) is paying a dividend of 40p/share and the share price fell 25p to 962.5p.

Billington (LON: BILN) is paying a dividend of 33p/share and the share price declined 30p to 545p.

Equals Group (LON: EQLS) is paying a dividend of 1p/share and the share price is 0.5p lower at 116.5p.

Gemfields (LON: GEM) is paying a final dividend of 0.67p/share and the share price fell 0.375p to 12.5p.

Good Energy (LON: GOOD) is paying a final dividend of 2.25p/share and the share price is unchanged at 254p.

Helios Underwriting (LON: HUW) is paying a final dividend of 6p/share and the share price is unchanged at 185p.

Judges Scientific (LON: JDG) is paying a final dividend of 68p/share and the share price edged up 75p to 10775p.

Learning Technologies Group (LON: LTG) is paying a final dividend of 1.21p/share and the share price is 1.2p lower at 81.9p.

Michelmersh Brick (LON: MBH) is paying a final dividend of 3p/share and the share price is unchanged at 99.5p.

Microlise (LON: SAAS) is paying a final dividend of 1.75p/share and the share price declined 5.5p to 131p.

Robinson (LON: RBN) is paying a final dividend of 3p/share and the share price slipped 2.5p to 110p.

Renew Holdings (LON: RNWH) is paying an interim dividend of 6.33p/share and the share price slid 8p to 1062p.

Restore (LON: RST) is paying a final dividend of 3.35p/share and the share price fell 4p to 268p.

RTC Group (LON: RTC) is paying a final dividend of 4.5p/share and the share price is 2.5p higher at 117.5p.

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