AIM weekly movers: OptiBiotix Health sweetener

During the week, OptiBiotix Health (LON: OPTI) updated the market on its SweetBiotix sweeteners products, which do not have the health concerns of rival sweeteners. They have a low glycemic index and enhance the gut microbiome. Manufacturing is being scaled up and product is being tested for consistency and shelf life. OptiBiotix Health says that well-known consumer brands like Kellogg’s, Nestle and Coca Cola are interested in SweetBiotix. These multinational brands would not allow themselves to be mentioned in a press release if they were not strongly considering the use of SweetBiotix. The share price jumped 155% to 20.8p – the highest level since last August.

Asset manager Gresham House (LON: GHE) is recommending a 1105p/share cash bid from financial services business Searchlight Capital Partners. That values the company at £440.6m. When it moved from the Main Market on 1 December 2014, Gresham House was valued at £26.5m at 227.5p/share. Gresham House’s sustainable asset investment expertise is an attraction to the bidder, as is the management team. The share price soared 55.9% to 1060p.

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Cleantech Lithium (LON: CTL) announced a 39% increase in measured and indicated resource for the Laguna Verde project. The resource is sufficient for an annual production rate of 20,000 tonnes of battery grade lithium carbonate for more than 30 years. The share price increased 55.3% to 59p. The March 2022 flotation price was 30p.

Oil and gas company Bowleven (LON: BLVN) says that it does not aware of any particular reason for the recent share price rise. It fell back on Friday, but it is still 52.4% higher on the week at 1.6p. The share price is nearly one-fifth lower than the start of the year, though. Bowleven has already stated that it is likely to raise money this year, although the share issue is not yet at an advanced stage.  



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Battery technology developer AMTE Power (LON: AMTE) is running out of time to raise the cash it requires to continue trading. Discussions with finance providers and investors continue, but there needs to be a decision in the next few days. If no cash is raised then the company will have to go into administration and there is unlikely to be anything left for shareholders. The share price slumped 60.6% to 3.75p.

Pelatro (LON: PTRO) says a customer owing $550,000 will not be paying on time. There are other receivables which are delayed, and the total is $1.1m out of group receivables of $4.2m. For some customers this is due to waiting for government approval for payments to a foreign entity, but there are disputes with firms in Nepal and Myanmar that owe $375,000. There was $700,00 in the bank at the end of June 2023, but more cash is likely to be required to be raised before the end of the year. The share price slipped 59.4% to 3.25p.

Sportech (LON: SPO) completed a one-for-10,000 share consolidation followed by a 1,000 for one share split – which reduces the number of shareholders by 97%. After that consolidation, the share price slipped 53.9% to 160.5p. Sportech is paying a 35p/share special dividend to shareholders out of the proceeds of disposals. The shares go ex-dividend on 27 July. Sportech runs sports bars and other betting venues in Connecticut, US, and has an agreement with the Connecticut Lottery Corporation to provide retail sports betting.

United Oil & Gas (LON: UOG) says interim revenues declined from $9.8m to $6.4m. There have been difficulties getting cash out of Egypt. Two development wells came on stream in March and May respectively. Additional drilling starts in September. Quattro has still not paid for the interest in the Maria licence because it is still trying to raise the funds. There was cash of $550,000 at the end of June 2023. The share price dived 40.3% to 1.075p.

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