AIM movers: Revolution Beauty investigation and new life for Itsarm

Shares in Itsarm (LON: ITS) have more than trebled on the back of board changes. The share price jumped 212.5% to 0.625p, which is the highest it has been since March. David Craven and Jean-Paul Rohan are joining the board and the winding-up petition has been withdrawn. James Sharp and Richard Monaghan are stepping down without compensation and payment of fees for July. A new proposal reduces liabilities to around £140,000 and current cash is £223,000. The company is a shell and trading in the shares will be suspended if it does not find a takeover candidate by 27 September.  

OptiBiotix Health (LON: OPTI) shares continue to rise after it said last week that manufacturing of the sweetener products range SweetBiotix is being scaled up and it is being tested for consistency and shelf life. OptiBiotix Health says that well-known consumer brands like Kellogg’s, Nestle and Coca Cola are interested in SweetBiotix. The share price is nearly treble the level of one week ago and has risen a further 11.8% to 23.25p – the highest level since August 2022. Cleantech Lithium (LON: CTL) is also still going up on the back of last week’s announcement of a 39% increase in measured and indicated resource for the Laguna Verde project. The resource is sufficient for an annual production rate of 20,000 tonnes of battery grade lithium carbonate for more than 30 years. The share price is 6.78%% ahead at 63p and is 57.5% higher than one week ago.

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Mind Gym (LON: MIND) co-founder Sebastian Bailey has bought 825,000 shares at 35.07p each, which is an investment of nearly £290,000. He owns 10.3% of the human resources services provider. The share price was near to its low and it rose 10.5% to 47.5p.

Cloud services provider Beeks Financial Services (LON: BKS) has added a further $4m of total contract value from multiple clients, including a large UK bank. This helps to underpin the forecast growth for the company. The share price is 6.13% higher at 108.25p.

Revolution Beauty (LON: REVB) has been hit by the FCA investigation announced late on Friday. This relates to potential breaches of market abuse regulations between July 2021, when the company joined AIM, and September 2022 when trading in the shares was suspended. The company has already said that revenues had been recognised too early and former management also failed to disclose other matters. The share price slipped 6.16% to 27.825p.

Shares in TV and film transport and facilities provider Facilities by ADF (LON: ADF) are still declining because of fears about the medium-term consequences of the Hollywood writers and actors strikes. Projects are continuing to be filmed with existing scripts, but no changes can be made, and they will eventually run out if the strike continues for a long period of time. The share price dipped 5.61% to 41.25p.

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Haydale Graphene (LON: HAYD) is launching a second collaboration with Cadent to develop graphene ink-based low-power radiator heaters, which will generate income of £350,000 over 12 months. There could be significant orders in 2025 if the collaboration is successful. They are already working on another heater project. The share price fell 2.17% to 1.125p.

Concrete levelling equipment supplier Somero Enterprises (LON: SOM) is trading in line with previously downgraded expectations. First half trading was at the upper end of expectations, but the full year pre-tax profit is being held at $32.5m, down from $42.3m. This assumes stronger second half trading. Outside North America, trading was stronger. The share price declined 2.11% to 347.5p.

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