AIM movers: Tekcapital considers Salarius float, plus Nanosynth, Jadestone Energy, Omega Diagnostics

Tekcapital (LON: TEK) says that it is considering floating its Salarius subsidiary in London next year. This follows the first bulk order for MicroSalt from a business customer. Salarius is already selling SaltMe branded low-sodium snacks. MicroSalt is a low sodium product that produces salt crystals that are one-hundredth of the size of a normal salt crystal. This enhances the salt taste and reduces sodium consumption by 50%. The Tekcapital share price has risen 7.9% to 20.5p.

Nanosynth Group (LON: NANO) is progressing its partnership with Volz Holdings. This started with the production of surgical masks for Covid restrictions. Demand has fallen and the technology will be used in heating, ventilation and air conditioning markets. Nanosynth says trading continues to improve. The share price jumped 44.4% to 0.325p, making it the highest riser of the day.

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Oil and gas producer Jadestone Energy (LON: JSE) has restarted production at the Montara field offshore Australia, which was paused due to a leak in a crude oil storage tank, on 3 July. This is earlier than expected. The tank has been temporarily repaired and the oil moved to other tanks. A permanent repair will start in a few days. The share price recovered 9.3% to 88.5p. This is still lower than prior to the revelation about the tank leak.

Immediate Acquisition (LON: IME) shares are rising ahead of the reverse takeover of new bank Fiinu on Friday – when the name will be changed to Fiinu Group (LON: BANK). Shareholders agreed to the acquisition on 1 July. The share price increased 11.3% to 18.5p.

Flexible electrical connectors manufacturer Strip Tinning (LON: STG) has won a glazing connectors contract for electric vehicles produced by BMW. There should be 16,000 connectors supplied each month for the BMW iX model. The contract starts before the end of 2022 and could generate revenues of $1.2m in 2023. Skoda is increasing its demand for connectors by 45% in another five-year agreement. The shares improved by 6.1% to 105p. That is still well below the 185p placing price when Strip Tinning joined AIM in February.

Omega Diagnostics (LON: ODX) has agreed heads of terms for the sale of the loss-making CD4 business to a preferred bidder. There should be a significant cash payment followed by a royalty stream on VISITECT CD4 test sales. The business was expected to generate £500,000 out of forecast group revenues of £11.6m for the year to March 2022. The continuing operations will focus on health and nutrition and a sale of CD4 should leave Omega Diagnostics with net cash at the end of March 2022. The share price edged up by 6.45% to 3.3p. That is below the recent placing and open offer price of 4p.

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Filtronic (LON: FTC) has won a £400,000 aerospace and defence contract for the design and manufacture of microwave filters. This will be delivered this year and there could be follow-on business. There should be more contracts won in the sector in the coming months. The share price moved ahead by 7.45% to 12.625p.

Housebuilder and regeneration projects developer Inland Homes (LON: INL) has completed the sale of 85 units at Buckingham House, High Wycombe for a build to rent operator. In October 2020, the original deal was worth £21.3m and £2.1m was paid initially. The rest of the cash has been received and a further £400,000 has been generated from variations and the sale of an additional commercial unit. This will help to reduce debt. Even so, the share price fell 6.35% to 29.5p. Net tangible assets were 103.6p a share at the end of March 2022.

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