Shares in portable oxygen device developer Belluscura (LON: BELL) rebounded 54.6% to 0.85p after Friday’s announcement of a strategic review, but it has still halved over the week. There is a shortage of working capital. There was cash of $1m and $790,000 of debt at the end of April 2025.
ITM Power (LON: ITM) has been selected to supply 300MW of electrolysers to produce green hydrogen for a power plant in Asia Pacific. This project is subject to final investment decision. The share price moved up 16.2% to 41.6p.
Venture Life Group (LON: VLG) is selling its contract development and manufacturing business to Italy based BioDue so that it can focus on its own self care brands. There will also be a ten year manufacturing agreement. The disposal includes some non-core brands and will generate £53m. The remaining business should have annual revenues of £43m and cash to acquire more brands. The prospective 2026 earnings multiple is eight. The share price is 10% higher at 49.5p.
Oriole Resources (LON: ORR) has found 125 gold-bearing intersections from eight holes on the Mbe gold project in Cameroon. The one is intersection for every 21 metres drilled. The results of holes nine to eleven are expected before the end of June. The share price improved 9.18% to 0.217p.
Velocity Composites (LON: VEL) has renewed its contract with BAE Systems for another three years and gained a price increase to cover higher costs. The company provides composite material kits for the F35 and Typhoon. The share price increased 10.6% to 26p.
FALLERS
Late on Friday, organ transplant diagnostics developer Verici Dx (LON: VRCI) published a circular ahead of a general meeting to gain shareholder approval to issue shares on a non-pre-emptive basis. A fundraising is planned, but no share price has been set. The share price slipped 23.1% to 1.25p.
Water remediation technology developer MyCelx Technologies (LON: MYX) reported 2024 figures in line with expectations. Revenues fell from $10.9m to $4.9m, but that was mainly down to the timing of a $5.4m contract. They are expected to recover to $13.5m in 2025 and that could be enough to breakeven. The share price fell 10.9% to 20.5p.
Occupational health services provider Optima Health (LON: OPT) returned to growth in the second half of 2024 and full year are expected to be £105m, which is 5% lower than in the previous year. EBITDA is expected to fall from £18.2m to £17.6m, but pre-tax profit should be flat at £13.4m. Optima Health was demerged from Marlowe last September. Three acquisitions have been made in 2025, and a military contract has been won that starts in 2027. The share price dipped 4.1% to 187p.
Oil condition monitoring equipment supplier Tan Delta Systems (LON: TAN) reported an expected dip in 2024 revenues from £1.46m to £1.22m, while the loss increased from £1.17m to £1.05m. There is £3.1m in the bank. There is a £35m pipeline of potential business. The share price decreased 2.7% to 18p.