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AIM movers: SmartSpace Software offer RWS declines

Venue management software supplier Skedda Inc has proposed an 82p/share offer to SmartSpace Software (LON: SMRT) valuing it at £25m. The share price has not been that high since 2021 and it jumped 94% to 65p, still well short of the bid level. JO Hambro, which owns 8.3% of the software developer, is supportive of the offer. Skedda believes that it can provide the financial backing that SmartSpace Software requires. The SmartSpace Software board does not support the offer. The company is currently loss-making.

Powerhouse Energy (LON: PHE) finance director Ben brier has acquired 6.53 million shares at an average price of 0.306p each. This followschief executive Paul Emmitt’s purchase of an initial 3.57 million shares at 0.2797p each. The share price recovered a further 16.9% to 0.43p.

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Mkango Resources (LON: MKA) says that its Birmingham-based HydroMag subsidiary has produced its first recycled rare earth magnets. Commercial production could start next summer. Other countries are likely to roll out sites for the recycling technology. The share price rose 12.2% to 12.625p.

Rockfire Resources (LON: ROCK) has been told by the Office of Financial Sanctions Implementation in the UK that it is entitled to have the $2m it paid for 10% stakes in Emirates Gold and Emperesse Bullion returned. This has not happened yet, but the cash will be invested in the Molaoi zinc lead silver germanium deposit in Greece. Assay results from four holes are expected. The share price increased 7.32% to 0.22p.

Defence and forgings company MS International (LON: MSI) more than doubled interim pre-tax profit from £3.46m to £7.72m. Revenues improved from £42m to £57m. The defence business returned to profit and generated all the revenue growth. That offset lower contributions from other divisions. Net cash is £50m. There are £57.5m of contract liabilities on long-term contracts and NAV is £43.4m. Deliveries for US navy contracts begin in the second half. The share price is 4.36% higher at 897.5p and it is 35% ahead this year.

FALLERS

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Language and IP services provider RWS (LON: RWS) is continuing its share price decline this year. It fell a further 9.85% to 223.2p and it is down by two-fifths in 2023. Impairment charges meant that RWS slumped into loss, although the underlying pre-tax profit was 11% lower at £120m. The total dividend is 4% higher at 11.75p/share and that is covered nearly two times by earnings. Reduced costs will benefit this year. The prospective multiple is less than ten.

Anglo Asian Mining (LON: AAZ) has received the delivery of Caterpillar equipment for the Gedabek mine and production could commence by the middle of next year.  The Azerbaijan gold miner will use the equipment at the Gilar site, which has gold, copper and zinc mineralisation. Even so, the share price declined 10.2% to 57.5p

Image Scan (LON: IGE) returned to profit in the year to September 2023 as revenues were 50% ahead at £3m. A further improvement is expected this year. The order book is worth £650,000 with a pipeline of potential work that underpins further growth. At 1.725p, down 6.76%, the shares are trading on less than 12 times prospective earnings.

Character Group (LON: CCT) chairman Richard King is stepping down after 33 years. Trading was tough, but there was a strong second half. Full year figures from the toys and games supplier were better than expected even though pre-tax profit more than halved from £11.4m to £5.2m on a 31% reduction in revenues. There should be a recovery this year. The share price slipped 3.51% to 275p.

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