AIM movers: Siemens sells Sondrel stake and Cap-XX gets grant

Good news for Cap-XX (LON: CPX), which will receive a net A$1m R&D development grant from the Australian Taxation Office. The supercapacitors developer has signed a joint venture agreement with Ionic Industries for the exclusive commercialisation of the latter’s graphene oxide technology. This will help to increase electrode density in supercapacitors. Purchases are anticipated from new distributors and more distributors are being signed up. The share price improved 12% to 1.4p.

Chaarat Gold (LON: CGH) has reached a deal with the Kyrgyz Republic government regarding the Tulkubash and Kyzltash projects. The government is confirming its commitment to help Chaarat develop the projects. They will promote international investment. The share price rose 10.7% to 7.25p.

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T42 IoT Tracking Solutions (LON: TRAC) is collaborating with Sateliot IOT Services on satellite-based maritime tracking. Clients will be connected to the Sateliot satellites to improve coverage in the oceans. The share price increased 8.33% to 3.25p.

Mind Gym (LON: MIND) shares recovered 5.19% to 40.5p following the interims. A trading statement had already warned that revenues would be much lower than anticipated and the share price took a large hit. Clients are delaying hires and related spending. The interim revenues fell from £26.8m to £20.9m and the human resources training and education company fell into loss. Annualised costs have been cut by £8m, with £3m showing through in the second half. A full year pre-tax loss of £2.5m is forecast and Mind Gym may have a small net debt position at the year end in March 2024. The company should return to profit next year as revenues recover and the cost savings kick-in.


Siemens has sold its entire 11.2% stake in Sondrel (LON: SND) for £589,000. The placing price was 6p and the share price slumped 46.4% to 7.1p. The semiconductors designer raised £17.5m at 55p/share when it joined AIM in October 2022. Project delays have hit revenues. Siemens previously had a share purchase agreement with the company and the chief executive but that was terminated. Siemens was granted the status of preferred supplier of electronic design automation software for a 36-month period at the time of the flotation.

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RUA Life Sciences (LON: RUA) took advantage of last week’s share price surge to raise £4m at 11p/share. There is also a retail offer that closes on 7 December. That could raise up to £750,000. The share price dived 41.1% to 12.25p. The cash will finance the vascular graft and heart valve development programmes while partners are sought. Cavendish expects the company to be profitable in 2025-26 before any contributions from the developing products. The share price is lower than before its recent rise and is not far off its all-time low.

Velocys (LON: VLS) shares continue to decline as investors await developments in the potential bid at 0.25p/share from a consortium including Lightrock and Carbon Direct Capital Management. The sustainable fuels developer is running out of cash and needs strong financial backing to finance projects. The share price slipped 27.4% to 0.2395p.

Share buying by directors of healthcare services provider Totally (LON: TLY) has not stopped the decline in the share price which is down a further 12.4% to 4.6p. New chair Simon Stilwell bought one million shares at 6.1p each, while non-exec Michael Rogers acquired 40,000 shares at 5.333p each.

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