AIM movers: Hope for Gfinity and Quadrise falls below placing price

Digital media network company Gfinity (LON: GFIN) has disposed of non-core businesses and cut monthly costs by 70% over the past year. The interim loss was sharply reduced, although it is flattered by a £260,000 disposal gain. Even excluding that, the loss was more than two-thirds lower. Cash outflow before working capital movements was £215,000 and there is £216,000 in the bank. The share price jumped 69.2% from its all-time low to 0.055p.

Health and safety consultancy services provider PHSC (LON: PHSC) intends to spend up to £200,000 buying back shares. PHSC has cash of £677,500. The shares are trading at a discount to pro forma net asset value of 32.2p/share at the end of September 2023. The share price moved ahead by 16.3% to 25p.

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Promotional products and services provider Pebble Group (LON: PEBB) reported 2023 figures in line with downgraded expectations following a trading statement last November. There was weak demand from technology and consumer clients and revenues dropped 7% to £124.2m, while pre-tax profit fell from £9.7m to £7.4m. The dividend was doubled to 1.2p/share. Net cash is £15.9m and a £5m share buy back programme is proposed. Management expects a return to growth this year. The share price is 8% higher at 67.5p.

Personal Group Holdings (LON: PGH) reported slightly better 2023 figures than expected with revenues of £49.7m and pre-tax profit recovering to £5.9m. The dividend was raised from 10.6p/share to 11.7p/share. Management has reviewed the business and is seeking ways to broaden the insurance products it offers, while continuing to grow the employee benefits business. The insurance business is propelling the current growth. The share price improved 7.58% to 177.5p.


Quadrise (LON: QED) raised £1.5m from a placing at 1.25p/share and could raise up to £1m more from an open offer. The share price declined 17.5% to 1.23p. Interim results show a net loss of £1.7m. The focus is trials and commercialisation of the company’s fuel additives. Shipping is an area with significant potential.

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Metallurgical coal miner Bens Creek (LON: BEN) has drawn down $7.5m of its working capital facility provided by shareholder Avani Resources, which has also advanced an additional $1.25m. The share price is down 15.4% to a new low of 2.75p.

Cap-XX (LON: CPX) shares fell back as Canaccord Genuity completed the sale of its shareholding in the cash strapped supercapacitors manufacturer. The share price lost some of its recent gains and fell 5.36% to 0.265p.

Financial services and software provider Fintel (LON: FNTL) revealed a dip in 2023 revenues from £66.5m to £64.9m, but that was all down to non-core businesses. Pre-tax profit improved from £15.9m to £16.4m – slightly below forecast. Fintech software revenues are growing, but housing-related income is under pressure although the mortgage market is recovering. Zeus has maintained its 2024 pre-tax profit forecast at £18.4m. The share price is 4.23% lower at 272p.

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