AIM movers: Ilika signs contract manufacturing agreement and board changes at Alien Metals

The Orcadian Energy (LON: ORCA) share price continues to rise even though management stated on Wednesday that it did not know why the share price is increasing and more cash will need to be raised. The supportive news from the government about the North Sea oil sector has attracted investors to Orcadian Energy. There are discussions with potential partners for the Pilot project and it is possible that it would be sold. The share price moved up a further 16.3% to 5p.

Former ITM Power (LON: ITM) boss Dr Graham Cooley has increased his stake in Light Science Technologies (LON: LST) from 3.3% to 4.8%. The share price recovered 15.8% to 2.2p.

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Battery technology developer Ilika (LON: IKA) has agreed a contract with contract manufacturer Cirtec Medical. The licence to manufacture agreement for Stereax batteries lasts for ten years and is exclusive in the medical devices sector. Initially there will be profit sharing before moving to royalties based on battery volumes. Ilika is transferring machinery to Cirtec Medical to operate on loan. Ilika retains the manufacturing of the cathode. The share price increased 8.89% to 49p.

XP Factory (LON: XPF) grew like-for-like revenues by one-fifth in the first half of 2023 even though hot weather held back May and June business. The escape room business Escape Hunt grew slightly faster than the Boom bars business. This means that XP Factory is on track to be profitable this year. The year end will be changing from December to March. The share price improved 8.82% to 18.5p.

Touchstar (LON: TST) chairman Ian Martin purchased 25,000 shares at 91p each, taking his stake to 10.1%. Robert and Virginia Millington increased their stake from 4.19% to 6.98%. The share price rose 5.13% to 102.5p.

Phil Terry taken a 3.14% shareholding in Itsarm (LON: ITS). The share price dipped 13.3% to 1.95p.

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Alien Metals (LON: UFO) has appointed Alwyn Vorster as its new chairman, replacing Guy Robertson who becomes finance director. Troy Whittaker has been appointed to the board as chief executive. Elizabeth Henson is a new non-exec director, while Mark Cuthbert has resigned. The share price fell 10.8% to 0.29p.

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