AIM movers: itim gains multi-million pound contract and United Oil and Gas raises cash for Jamaica

SaaS-based retail technology platform developer itim Group (LON: ITIM) has won a five-year, multi-million pound contract with fashion retailer QUIZ Clothing. This deal provides an opportunity to attract other fashion retailers. The Retail Suite product will be rebranded as UNIFY. The share price jumped 62.8% to 35p.

Plant-based polymers supplier Itaconix (LON: ITX) generated revenues of $7.9m in 2023, up from $5.6m, with Europe growing strongest as new detergent customers were gained. Cleaning sector ingredients achieved revenues of $7.2m due to their performance and sustainability. Net cash was $10m at the end of 2023. The share price recovered 25.5% to 160p. This is the highest the shares have been since September.

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Silver Bullet Data Services (LON: SBDS) has extended its contract with Mars Petcare and the deal is worth $2.3m. The original deal was three years ago. Additional services include customer experience activation, data management and data insights. The share price rose 14.1% to 182.5p.

Microbiome-based treatments developer OptiBiotix Health (LON: OPTI) continues to increase its number of partners and is actively managing the existing key accounts. Investment in e-commerce meant that sales from this area were 287% higher in 2023. The overall product range is being rationalised and new products added, including SlimBiome soup. Sweetener SweetBiotix has been included in its first product which is about to be launched. DSM-Firmenich has forecast potential demand for SweetBiotix of more than 100,000 metric tonne/year. That is a suggestion of the opportunity. The share price increased 11.1% to 25p.

FALLERS

United Oil and Gas (LON: UOG) has raised £1m at 0.2p/share, having originally sought £900,000. A subdivision of the shares is required to reduce the par value so that the shares can be issued at this price. The cash will be spent on developing the exploration licence in Jamaica and fund costs while a farm-out partner is secured. There is interest from several interested parties. The share price is 38.6% lower at 0.215p.

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Shares in electric drivetrain developer Saietta Group (LON: SED) continue to decline as it seeks to secure additional finance before the end of March. Having failed to secure an electrical steering pump contract manufacturing opportunity and it may sell the relevant production line for £600,000. That would help its short-term financial position. The share price dived 38.3% to 0.5p.

Bricks and construction products supplier Brickability (LON: BRCK) has been hit by weak demand. That is in line with other companies in the sector. This weakness is likely to continue into the year to March 2025, but January acquisition TSL Assets will make a full contribution. Brickability remains highly profitable in tough times. Cavendish has reduced its 2023-24 revenues expectations by 7% to £585m, while the pre-tax profit estimate is 8% lower at £35.2m. The 2024-25 pre-tax profit figure is reduced by 4.5% to £37m. The share price had been on an improving trend, but it fell back 11.7% to 67.5p.

Poor weather conditions in the US hampered trading in the autumn at online betting company Webis Holdings (LON: WEB). Interim turnover declined from $6.23m to $5.9m, while the loss increased from $330,000 to $540,000. Management is hopeful that trading will improve in the spring, helped by investment in marketing. There could be partnership or merger opportunities. The share price declined 3.85% to 1.25p.

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