AIM movers: Successful fundraising for Creo Medical and Purplebricks strategic review

Medical devices developer Creo Medical (LON: CREO) raised £28.5m from the placing at 20p a share, which was more than initially targeted. With more to come from the open offer, Cenkos believe that this is enough cash to fully commercialise the current product portfolio. Revenues of £100m are forecast by 2027. The share price jumped 53.1% to 37.5p.

Shares in Clontarf Energy (LON: CLON) continue to rise following the announcement earlier this week that it is forming a joint venture with US-based NEXT-ChemX Corporation. This covers the deployment and marketing of the latter’s direct lithium ion extraction technology in Bolivia. The share price is 22.8% higher at 0.175p.

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Jaywing (LON: JWNG) shares have recovered some of yesterday’s losses after deferral of contracts by clients of the digital marketing services provider led to forecast downgrades. The 2022-23 pre-tax profit expectations were more than halved to £1m, while next year’s forecast has been slashed from £3.7m to £2m. The share price clawed back 11.7% to 5.025p.

Semiconductors designer EnSilica (LON: ENSI) moved into operating profit in the first half and momentum has continued in the second half. A €5m contract has been won to develop a chip for the satellite communications market, which will start generating revenues in 2023-24. Interim revenues are nearly one-quarter higher at £8.59m. The growth came from design and supply. There was a pre-tax loss of £202,000, but R&D tax credits meant that there was a £322,000 profit after tax. A small full year pre-tax loss is forecast for the full year with a £844,000 post-tax profit. The share pric moved 9.09% higher to 102p.

Tekcapital (LON: TEK) investee company Guident has executed a letter of intent with Auve Tech to provide remote monitoring and control services for its autonomous vehicles. A vehicle using the technology should be launched in North America in the second half of 2023. The share price rose 2.56% to 20p.

Purplebricks (LON: PURP) is launching a strategic review because the board believes the company is undervalued. The share price slumped 20.4% to 7.88p, which is a new low. Changes to the estate agency business have disrupted the third quarter performance. Instruction numbers were lower than expected and £4m of annualised cost savings have been identified. There will be £1.2m of one-off costs in the second half. The full year adjusted EBITDA loss will be between £15m and £20m. It was previously expected to be around £10m.

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Maintel Holdings (LON: MAI) chief executive Ioan McRae has resigned. The share price fell 17.2% to 120p. Last month, the managed services provider reported that higher than expected costs in the fourth quarter and project delays hit professional services margin. Underlying 2022 EBITDA will be above £4m, but well down on the £9.6m in 2021. It was previously anticipated that 2022 EBITDA could be around £7m.

Bus operator Rotala (LON: ROL) has completed an oversubscribed £10m tender offer at 55p a share. The share price fell 10.9% to 45p. Anyone subscribing up to 35.7% of their shares will have all their shares acquired, while shares tendering above that figure will be scaled back so the total amount spent is £10m.

The Natural Pozzolan-Perlite project remains the main focus for Sunrise Resources (LON: SRES) and it is seeking to develop relationships with cement and ready-mix companies. This could secure long-term offtake agreements for the project in Nevada. The share price declined by 4.55% to 0.105p.

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