Gas and electrical maintenance services provider Kinovo (LON:
KINO) was the best performing AIM share last week although there was no
additional information about the guarantees and £3.7m of working capital support
provided to DCB Kent, which was sold at the beginning of the year. DCB has been
placed in administration The acquirer MCG Global is claiming money from Kinovo.
The share price was 41.2% higher at 12p, but that is not much more than
one-third of the level in early May.
Restaurants operator Tasty (LON: TAST) has repaid its
£1.1m bank loan, leaving it with net cash of £8.6m. The share price jumped
31.2% to 5.05p. That values the company at £7.1m. Annualised interest rate
savings will be £57,000 and there was no early repayment penalty. There are plans
to open five or six more restaurants this year.
Virtual reality software developer Engage XR (LON: EXR) announced
two partners for its enterprise focused Metaverse, ENGAGE Link. This boosted
the share price by 28.6% to 13.5p. The partners are HITC, which will be in the
enterprise plaza of the platform, and The Vitual Human Interaction Lab at
Stanford University, which is in the education plaza. ENGAGE Link should launch
in the fourth quarter of 2022.
Argentina-focused oil and gas company Phoenix Global
Resources (LON: PGR) says that it is in discussions with 84% shareholder Mercuria
Energy Group concerning a cancellation of its AIM quotation and a cash offer to
purchase shares from independent shareholders at 7.5p each. The share price has
risen 25.4% to 6.3p. Five years ago the share price was ten times that level.
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Fallers
Last week Actual Experience (LON: ACT) shares had a
chance to react to news of the loss of a contract that was published late on
the previous Friday. The share price more than halved to 3.5p. The analytics services
provider to digital businesses says that due to a change in requirements a channel
partner has terminated the contract that generated £200,000 out of group
revenues of £1.74m in 2020-21.
Online wine retailer Naked Wine (LON: WINE) reported
a profit in the year to March 2022, but it is likely to make a loss this year. The
share price slumped 47.9% to 152.2p. Customer retention is declining, although
it remains at 80%, and it is taking longer to achieve the payback of investment
in acquiring new customers. There are fears that consumers seeking to save
money may end their subscription to Naked Wine.
Shares in 4D Pharma (LON: DDDD) declined 28.5% to 16.66p
before trading was suspended on Friday. 4d Pharma subsequently revealed that Oxford
Finance has demanded immediate repayment of the $13.86m it is owed. The company
cannot do this, so administrators have been appointed.
Corcel (LON: CRCL) shares fell 35.7% to 0.675p after
it said that it was not going ahead with the Avonmouth 50MW gas peaking project
near Bristol. There is progress being made with the Wowo Gap nickel/cobalt project
in Papua New Guinea.
Engineer and consultancy TP Group (LON: TPG) has
delayed the publication of its 2021 results and AIM regulation is extending the
allowed reporting period to the end of September. There is work to be done on onerous
fixed price contracts in the maritime division and there will be provisions.
There are attempts to renegotiate contracts. The share price fell by 34% to 1.65p.
