AIM movers: K3 Business sells main subsidiary and Capital Metals reduces capex

K3 Business Technology (LON: KBT) is selling its UK SYSPRO business NexSys to SYSPRO owner Advent for £36m. This business generated 109% of group EBITDA and 28% of group revenues. K3 Business Technology intends to return cash to shareholders. The company’s remaining operations are K3 Fashion and Pebblestone, the IKEA software business and other retail software. The share price is two-fifths higher at 87.5p.

Capital Metals (LON: CMET) has reduced the stage one capex for the Eastern Minerals project in Sri Lanka by one-third of $20.9m. Initial production of heavy mineral concentrate is 125,000tpa. Funding and offtake discussions are continuing. Drilling is restarting, so that the resource can be increased. The share price jumped 31.3% to 2.1p.

- Advertisement -

Condor Gold (LON: CNR), which is developing the La India gold project in Nicaragua, says that Metals Exploration (LON: MTL) and have made bid approaches and negotiations are at an advanced stage with Metals Exploration. Calibre Mining Corp says it will not make an offer. Metals Exploration has entered into a £5.5m bridging loan facility with Drachs Investments No. 3, which has a 18.4% shareholding. This is repayable at the end of January or when talks end. Galloway is lending £475,000 to Condor Gold. Metals Exploration owns the Runruno gold project in the northern Philippines. Condor Gold shares increased 22.9% to 29.5p. Metals Exploration shares have fallen 6.14% to 5.35p.

Energy optimisation service provider Inspired (LON: INSE) has won three large optimisation contracts with two starting in 2025. These contracts came later than expected and Panmure Liberum has knocked £5m off its pre-tax profit expectations and reduced earnings by 29% to 9.2p/share. Net debt is forecast at £58m at the end of 2024. Covenants have been changed and this should ensure there is no breach following the decline in expected profit. The share price recovered 20.3% to 41.5p.

FALLERS

Goldstone Resources (LON: GRL) is in talks with Blue Gold International concerning an extension for the repayment of the £2.7m owed through convertible loan notes. It was due to be repaid at the end of November and Goldstone Resources has five business days to negotiate the extension or it will be obliged to repay the loan notes. The share price dived 27% to 1.15p.

- Advertisement -

Bigblu Broadband (LON: BBB) is selling Australian broadband business to SKM Telecommunications for up to £25.7m, which values the business at more than double the total cost of investment. The initial cash payment is £15.4m and £6.8m in shares in SKM, with a further £3.5m in cash due in one year. This requires shareholder approval at a general meeting on 20 December. The company will still have operations in New Zealand and a subsidiary involved in the distribution of Starlink, plus a 2.8% stake in Quickline. Revenues are forecast to be £1m in 2024-25. The share price lost some of its recent gains and is 14.6% lower at 35p.

Braveheart Investment (LON: BRH) chief executive Trevor Brown bought 425,000 shares at 4.0388p each, taking his stake to 25.5%. The share price declined 5.56% to 4.25p.

Africa-focused Shuka Minerals (LON: SKA) is being loaned £500,000 by its second largest shareholder Gathoni Muchai Investments. The initial advance is £150,000. Shuka Minerals is planning to appoint new directors. The share price slipped 3.33% to 7.25p.

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