Sundae Bar (LON: SBAR), which moved from Aquis on Tuesday, has launched the live beta AI agent marketplace. Three AI agents have signed up. The AI agent market is worth $5.1bn. There was a placing raising £2m at 8p/share. The company was formed from the merger of Kondor AI and Ora Technology. The share price increased 16.4% to 9.75p.
Tungsten West (LON: TUN) says that the Hemerdon tungsten and tin mine in Devon has been selected by the EC as a strategic project. The EU is trying to secure supplies of critical materials, and this provides access to EU funding. The share price rebounded 15.4% to 7.5p.
Sustainable plastics developer Symphony Environmental Technologies (LON: SYM) says the subscriber of the second tranche of funding raising £2.25m at 20p/share is changed to Quantum Leap 1.1.1 Fund LP. The share price improved 13% to 7.625p.
Marlowe (LON: MRL) is recommending a cash and shares bid from fully listed facilities management company Mitie (LON: MTO), which is offering 1.1 Mitie shares and 290p in cash for each Marlowe share. At a Mitie share price of 160p, each Marlowe share is valued at 466p/share. Marlowe will add compliance capabilities in fire, security and water and air quality. This represents the latest exit of a company from AIM where Lord Ashcroft is a significant shareholder. Mitie shares fell 11% to 142p, while the Marlowe share price rose 8.13% to 439p.
Ariana Resources (LON: AAU) says construction of the Tavsan project in Turkey, where Arina owns 23.5%, is making progress. Cold commissioning of the plant is underway. There is one year of ore production stockpile and an exploration drilling programme is ongoing. Zeus estimates that Ariana’s share of production could generate $10.5m in EBITDA at current gold prices. Some of that cash could be distributed to Ariana by the joint venture and this will help fund other projects. The share price is 6.98% higher at 1.15p.
FALLERS
Blue Star Capital (LON: BLU) is raising £250,000 at 11p/share, so that it is ready to put more investment into SatoshiPay, where it currently owns a 27.9% stake. There may also be investment in Bitcoin. Shareholder approval is required for the share issue. The share price slipped 22.4% to 16.5p.
Technology investment company Tern (LON: TERN) reported a decline in NAV from £12.3m to £10.7m over the year to December 2024. That was mainly down to a reduction in value of the holding in satellite-based Internet of Things communications technology developer Wyld Networks. There was £400,000 in cash. Tern will need to raise more cash for follow-on investments. The share price declined 15.2% to 1.675p.
Woodbois (LON: WBI) has resumed timber production in Gabon and the stock of veneer has been sold. Revenues are growing. The 2024 accounts will not be published by the end of June, so trading in the shares will be suspended on 1 July. The share price fell 13.8% to 0.0625p.
Ground engineer Van Elle (LON: VANL) says activity levels remain subdued due to delays to Building Safety Act approvals. Several major contracts have been delayed until the current year. In the year to March 2025, pre-tax profit is expected to be £3.5m, down from £4m previously. That is a large drop on the 2023-24 pre-tax profit of £5.1m. There are hopes that the pre-tax profit can rebound to £6.5m this year. Water infrastructure spending and the government policy for building new homes should help this year. The share price decreased 6.49% to 36p.
Ex-dividends
Billington (LON: BILN) is paying a final dividend of 25p/share and the share price declined 25p to 415p.
Everplay (LON: EVPL) is paying a maiden dividend of 2.7p/share and the share price slipped 2p to 306p.
Likewise (LON: LIKE) is paying a final dividend of 0.25p/share and the share price is unchanged at 23.5p.
Livermore Investments Group (LON: LIV) is paying a dividend of 3.13p/share and the share price rose 0.25p to 52.25p.
Michelmersh Brick Holdings (LON: MBH) is paying a final dividend of 3p/share and the share price fell 2p to 113p.
Microlise (LON: SAAS) is paying a final dividend of 1.24p/share and the share price decreased 0.5p to 104.5p.
Robinson (LON: RBN) is paying a final dividend of 3.5p/share and the share price dipped 2.5p to 125p.
Renew Holdings (LON: RNWH) is paying an interim dividend of 6.67p/share and the share price slid 4p to 826p.