AIM movers: Tintra subscription and Aferian hit by destocking

Tintra (LON: TNT) has entered into a new subscription agreement for $2m with a Gulf-based investor. This replaces an agreement that expired last year. The subscription price is 1178p and 70,742 warrants will be issued that can be exercised at 504p each if the market value of the fintech company is above $500m. The share price has risen by one-quarter to 150p, which is a market capitalisation of £23.2m.

Neuroscience analytics IXICO (LON: IXI) has been selected to provide MRI imaging services for patients with a rare form of dementia. The gene therapy trial is expected to last four years. The share price increased by 5.43% to 24.25p.

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Breedon (LON: BREE) non-exec Clive Watson acquired 29.875 shares at 76.5p each. The share price rose 3.8% to 75.15p. Aggregates and cement supplier Breedon is planning to move from AIM to a premier listing.

Sabien Technology (LON: SNT) has received a £246,000 UK government department order for M2G CO2 mitigation devices for commercial boilers. This is a repeat order. Since October, orders worth more than £430,000 have been won. The revenues will be mainly recognised in 2023. The share price is 4.06% higher at 10.25p.

Hummingbird Resources (LON: HUM) has published a new video on the progress of the Kouroussa gold mine in Guinea (Media – Hummingbird Resources Plc). There was £617,000 raised from the open offer. The share price improved 2.74% to 7.5p.

Aferian (LON: AFRN) says customer destocking of streaming devices has hit sales and they will be significantly lower than expected for this part of the business. Streaming video services provider 24i continues to grow. There should still be a positive EBITDA this year. The annualised cost base is being reduced by $5m. Annual results to November 2022 will be delayed while discussions with banks continue over future covenant compliance. Max Royde, who works for 26.1% investor Kestrel is joining the board. The share price slumped 43.8% to 34p.

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Versarien (LON: VRS) chief executive Neill Ricketts has resigned. The management structure of the graphite technology developer will be assessed. Earlier in the week, a project with Costain to develop 3D printed concrete headwall was completed. This enables steel to be removed from the structure. The share price dived 35.6% to 3.2525p.

Lower trading levels on the stockmarket hit the full year figures of Cenkos Securities (LON: CNKS) with revenues 46% down at £20.3m and a move into loss. The dividend has been cut from 4.25p a share to 1.5p a share. The cash pile more than halved to £14.2m, while net assets are £21.8m. At 43.5p, down 17.1%, the market capitalisation is £29.8m.

The sale of the remaining Bonhill (LON: BONH) subsidiary has fallen through. The potential buyer of InvestmentNews significantly lowered its initial bud of $6.5m. Another US media buyer is offering $4.1m and will take on the lease of the offices in New York, which has an estimated value of $1.9m. A conditional agreement is expected. The share price fell 14.3% to 6p.

Paul Johnson is stepping down as chief executive of Power Metal Resources (LON: POW) and he will be replaced by Sean Wade. There will be a greater focus on operational activities and some projects will be spun off or floated. The share price declined by 16.3% to 0.9p.

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