Armadale Capital (LON: ACP) has been dropped from the FTSE AIM All Share index ahead of leaving AIM on 13 November. Even so the share price has risen by two-thirds to 0.1p on the back of a limited number of purchases of £500 or less. Another company leaving, Tlou Energy (LON: TLOU), is up 7.69% to 0.7p after non-executive director Hugh Swire bought 3.05 million shares at 0.675p each.
Shell company Selkirk Group (LON: SELK) raised £7.5m at 2.4p/share ahead of joining AIM this morning. The share price has risen to 3.25p. The focus is undervalued consumer, technology and digital media businesses. Executive chair Iain McDonald says: “We have chosen to IPO on AIM because, despite the prevailing negative narrative, AIM is still a very attractive market for small, fast-growing companies”.
More good news from professional services firm DSW Capital (LON: DSW) with its trading statement following the acquisition earlier this week of DR Solicitors for £6.1m in cash and shares, which will reduce dependence on M&A. Trading has been gradually improving in the first half. First half profit will be slightly lower at £100,000, but the full year pre-tax profit is expected to recover from £500,000 to £1.4m. A further jump to £2.5m is forecast for 2025-26. The interims will be published on 27 November. The share price rose 9.85% to 72.5p.
Bangladesh-based Beximco Pharmaceuticals (LON: BXP) reported a 13% increase in revenues, but when they are converted to pounds, they are nearly 1% lower at £286.6m. Post-tax profit improved from £33.3m to £37.9m, or 30% in terms of local currency. The dividend is Taka4/share. The share price improved 4.62% to 34p.
FALLERS
Hummingbird Resources (LON: HUM) has announced a debt restructuring and possible bid. Delays in ramping up production at Kouroussa have strained the balance sheet and $30m of debt repayments have been deferred. Net debt was $155m at the end of September 2024, while trade and other payables were $152m. Nioko Resources, which owns 41% of the gold miner, is proposing a partial debt-to-equity conversion at 2.6777p/share, which would take its stake to 71.8%, and potential bid and cancelation of the AIM quotation. Geoff Eyre has been appointed interim chief executive. The share price slumped 62.5% to 2.25p.
Content management technology provider Fadel Partners (LON: FADL) is not going to sign up a large potential client before the end of the year and there are other delays to projects. This means that the 2024 pre-tax loss will be more than $4m. Costs ar4e being reduced. Net cash should be $1.3m and management believes it has enough cash for its current requirements. New business likely in 2025 should help to reduce the loss. The share price dived 27.9% to 77.5p.
Shares in fabless silicon chip designer and manufacturer EnSilica (LON: ENSI) continue to decline after if dipped into loss in the year to May 2024, but the long-term outlook is positive. Chip supply revenues should start to build up from this year and that will sharply boost profitability. It can take two years or more for chip supply to begin and then production is built up to its peak, so there is built in growth for many years. Singer forecasts a 2024-25 pre-tax profit of £2.7m, doubling to £5.5m next year. The share price fell a further 9.3% to 39p.
Arc Minerals (LON: ARCM) says Anglo American has announced drilling results on the Zambian Copper project, where Arc Minerals owns 67% although Anglo American is earning a 70% stake. The current target is at Muswena in the licence, and it has minerology similar to the Domes region and there is visible copper mineralisation. Zeus has a fair value for Arc Minerals of 5.8p/share compared with a market price of 2.075p, down 6.74%.
Ex-dividends
Avingtrans (LON: AVG) is paying a final dividend of 2.9p/share and the share price fll 5p to 397.5p.
Bioventix (LON: BVXP) is paying a final dividend of 87p/share and the share price declined 75p to 3650p.
Greencoat Renewables (LON: GRP) is paying a dividend of 1.69cents/share and the share price slipped 3.7 cents to 83.9 cents.
Springfield Properties (LON: SPR) is paying a final dividend of 1p/share and the share price is 1.5p lower at 97.5p.
Warpaint London (LON: W7L) is paying a final dividend of 1p/share and the share price fell 7p to 525p.