Dr Graham Cooley has increased his stake in spirits company Distil (LON: DIS) from 18.1% to 19.15%. The share price jumped 25.9% to 0.17p. This is the highest the share price has been since last October.
Jangada Mines (LON: JAN) investee company Blencowe Resources (LON: BRES), where it owns 7%, has received further grant funding of $500,000 from the US International Development Finance Corporation with a further $1m to come. There had been a pause in funding as the new US government assessed spending. The funding does not have to be repaid. The share price was one-fifth higher at 1.2p, which is a new 2025 high.
Poolbeg Pharma (LON: POLB) has been granted orphan drug designation by the FDA in the US for POLB001 for treating cytokine release syndrome caused by T cell engager bispecific antibodies. This is a side effect of cancer treatments. POLB001 is ready for a phase 2 study. The status provides seven year exclusivity after US approval, plus tax credits for development spending. This is a $10bn market. There is potential for securing a partner for clinical trials. The share price rose 16.3% to 2.85p.
Energy supplier Chariot (LON: CHAR) has raised $6.1m at 1.4p/share and an open offer could raise a further $1m. The cash will be invested in wind generation, gas and upstream assets. Chariot plans to demerge its transitional power business in the second half of 2025. The share price improved 15.2% to 1.641p.
Energy assurance and optimisation services provider Inspired (LON: INSE) has received an indicative offer of 81p/share from HGGC managed funds. The Inspired board has indicated that it would be minded to recommend the bid if it was at this level and the acceptance condition did not rely on Regent Gas, which owns 29.4%, accepting the bid. Regent Gas Holdings is offering 68.5p/share in cash and says it wants Inspired to stay on AIM. This offer has been rejected. The share price is 9.15% higher at 77.5p.
FALLERS
Reduced frequency of services hit the ongoing business of cleaning services provider React (LON: REAT) hit ongoing interim revenues. There were also two paused contracts. In the six months to March 2025, revenues rose from £10.6m to £12.1m, but that was after a £2.8m contribution from 24hr Aquaflow Services, which was acquired in October last year. It also helped gross margin improve from 27.1% to 32%, which should be sustainable because contracts have been in cost increases from higher National Insurance rates. Admin expenses have increased ahead of growth and because of running two systems at LaddersFree while business is transferred to a new online platform. Underlying interim pre-tax profit was flat at £1.1m, excluding acquisition costs of £220,000. There are some positive signs, but management is cautious about the second half leading to a forecast downgrade. Full year pre-tax profit is expected to be flat at £2.1m, but earnings will be lower because of shares issued to finance the 24hr Aquaflow Services acquisition. The share price declined 22.2% to 56p.
Metals One (LON: MET1) has slipped 10.1% to 38.6525p even though proposed US policies will speed up nuclear reactor testing and boost US mining of uranium. Metals One has uranium projects in Colorado and Wyoming.
On Friday, DP Poland (LON: DPP) announced that auditing of its 2024 results has not been completed and the figures will not be announced until late June. The share price fell 5.26% to 9p.
ECR Minerals (LON: ECR) says initial drilling results from the Bailieston project confirm the presence of gold and antimony. Antimony was intersected in two of the first three holes. The share price dipped 4.65% to 0.205p.