AIM movers: Numis takeover and SDX Energy concerns

Deutsche Bank is bidding 339p a share for Numis Corporation (LON: NUM), which values the AIM nominated adviser at £410m. On top of the cash bid there will be an interim dividend of 6p a share for the six months to March 2023, plus an additional dividend of 5p a share. The first dividend will be paid in June and the second dividend will be paid after the effective date of the takeover. The bid is recommended. The share price jumped 67.3% to 341.25p.

TPXimpact (LON: TPX) has won two major contracts. A contract worth up to £49m over four years has been secured with His Majesty’s Land Registry and that is the largest that has ever been won. The other contract is for digital transformation at the Department of Education and is worth £27m over two years. Both contracts start in May. The share price recovered 60.9% to 51.5p.

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Reabold Resources (LON: RBD) says the joint venture has agreed a specific well path for West Newton B-2 well and drilling is set for the second half of 2023. An industry partner may be brought in to support licence activity. A share buy back of up to £750,000 of shares has commenced. The share price is 8.22% higher at 0.1975p.

Coal miner Bens Creek (LON: BEN) has delivered 44,00 tonnes of coal to be shipped to India. The coal was specifically requested by an Indian steel manufacturer. Production capacity at the mine is set to increase. The share price is 6.35% ahead at 16.75p.

North Africa-focused oil and gas producer SDX Energy (LON: SDX) reported 2022 net revenues of $43.8m and operating cash flow was $16.9m. There are still concerns about the economy in Egypt. Shore has a risked NAV estimate at 19.5p a share. The share price slumped 21.5% to 5.65p.

Tertiary Minerals (LON: TYM) management believe that the latest drilling results at the Mushima North copper project in Zambia are “exciting”. The hole was defined as a drill target in the 1970s and it found mineralisation. Even so, the share price fell 14.1% to 0.1525p.   

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A third quarter update from Tlou Energy (LON: TLOU) says that the transmission line from the Lesedi coal bed methane gas to power project in Botswana is set to be completed by the middle of 2023. First electricity sales are expected early in 2024. Third quarter capital investment was A$3.9m. There was A$3.5m in cash at the end of March 2023 and a loan of A$2m is being agreed with shareholder Ian Campbell. The share price fell 10.2% to 2.3p.

Zoo Digital (LON: ZOO) has raised £12.5m at 160p a share and a retail offer could raise up to £500,000 at the same price – it closes on 5 May. The share price fell 9.86% to 164.5p. The cash will help to finance the acquisition of one of its Japanese media localisation partners from a leading technology company. This should be earnings enhancing. Management says that full year revenues will be $90m, which is lower than expected. This disappointment is due to lower margin dubbing revenues.  

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