AIM movers: i-nexus convertible funding and Live Company’s late accounts

Software company i-nexus Global (LON: INX) is raising £500,000 through unsecured convertible redeemable loan notes with a conversion price of 10p a share. The share price jumped by one-fifth to 4.5p. The cash will provide working capital. Existing convertibles will have their redemption dates extended.

Offshore services provider Tekmar Group (LON: TGP) increased interim revenues by 36% to £17.7m and the loss was reduced. Management believes the company can reach EBITDA breakeven for the full year. That is based on forecast revenues of £40m, which is 90% covered by existing revenues and orders. The share price is 12.2% ahead at 10.375p, although it is still 10% down since the beginning of 2023.  

- Advertisement -

Oriole Resources (LON: ORR) has discovered significant mineralised intervals at Mbe in Cameroon. The best of the six sample lines showed 2.2 metres at 8.47g/t gold. Maiden drilling is planned in 2023-24. Project funding for the wider licence area should be completed by the third quarter. The share price rose 10.5% to 0.21p.

Avacta Group (LON: AVCT) says that following the fifth dose escalation cohort in a phase I clinical study of AVA6000 for tumour targeted chemotherapy. There has been a marked reduction in frequency and severity of toxicities associated with doxorubicin chemotherapy. The sixth dose will be increased as Avacta tries to identify the maximum tolerated dose. The share price improved 8.06% to 114p.

Live Company Group (LON: LVCG) will not be able to publish its 2022 accounts by the end of June, so trading in the shares will be suspended on 3 July. MHA MacIntyre Hudson has been appointed as auditor. The accounts should be reported by the end of July. The share price slumped 29% to 1.35p.

Fortune Mojapelo is stepping down as chief executive of Bushveld Minerals (LON: BMN) and former De Beers director Craig Coltman will take over the role. There was a $24m impairment loss in 2022. Revenues were 39% higher at $148.4m. The share price declined 14.6% to 3.075p.

- Advertisement -

A strong performance in the US by Haydale Graphene (LON: HAYD) has led finnCap to edge up its 2022-23 revenues forecast from £4.1m to £4.3m, although admin expenses were higher. However, growth expectations have been reduced. The share price fell 9.52% to 0.95p.

Polarean Imaging (LON: POLX) has appointed Dr Christopher von Jako to replace Richard Hullihen as chief executive. Dr von Jako has been chief executive of BrainWay, a Nasdaq listed developer of non-invasive neurostimulation treatments for mental disorders. He has been granted 5.325 million options with an exercise price of 29p each. The share price is 6.96% to 26.75p.

Latest News

Subscribe to the UK Investor Magazine email newsletter

Register for our free email newsletter and receive the latest investment news, podcasts, event information and offers.

More Articles Like This

Tagdiv Cloud library - template content.