Degradable plastics developer Symphony Environmental Technologies (LON: SYM) has raised £2.5m at 20p/share from Quantum Leap Capital. The subscription will be in two tranches and Quantum Leap Capital will have a 5.26% stake. The subscription price is more than double the market price even after a 123% jump to 7.25p.
Trading in RiverFort Global Opportunities (LON: RGO) shares recommenced following the publication of details of the acquisition of the healthy snacks operations of Aquis-quoted S-Ventures (LON: SVEN) for 466.7 million shares and a £1m placing at 0.75p/share. A loan is being converted into 356.3 million shares. RiverFort will be able to provide cash to grow the business. The company will change its name to Tooru. The share price rebounded 59.1% to 0.35p.
Automotive interior components supplier CT Automotive (LON: CTA) improved margins in 2024 through cost reductions and greater efficiency. That enabled pre-tax profit to edge up from $8.3m to $8.7m even though revenues declined. A rise in pre-tax profit to $10.5m is expected this year. There is uncertainty about US tariffs, but the company can move supply from China to Mexico. Non-exec Nick Timberlake bought 20,000 shares at 27.7p each. The share price improved 55.3% to 36.5p.
Surface Transforms (LON: SCE) chef executive Kevin Johnson bought 10.18 million shares at 0.3757p each. The estate of William Black has been reducing its shareholding, and it is down to 2.45%. The share price recovered 41% to 0.55p.
FALLERS
Trading recommenced in Argentex (LON: AGFX) shares following the financial problems due to taking on too much risk on foreign currency transactions and the recommended bid of 2.49p/share from IFX Payments, which is also providing a facility of up to £20m on top of a £10.5m bridge facility previously provided. The share price slumped 94% to 2.6p.
Seaweed-based animal feed Ocean Harvest Technology (LON: OHT) says first quarter revenues grew 65%, but it remains loss making. Further funds are being sought from investors, but it has not yet secured any commitments. Talks are also ongoing with the secured loan note holders, which may be able to request repayment because of a potential default. There is enough cash until mid-June. The share price dived 76.2% to 1.25p.
Peel Hunt continues to reduce its shareholding in the in content advertising company Mirriad Advertising (LON: MIRI). It has fallen from 14.1% to 4.14%. The company continues to seek funding so that it can stave off the need for going into administration. Discussions are ongoing with potential investors. The share price slipped a further 35.7% to 0.027p.
Film and TV subtitling and dubbing services provider Zoo Digital (LON: ZOO) says work is coming through more slowly than expected. The timing of projects remains uncertain. Revenues for the year to March 2025 have been reduced by 3% to $49.4m and the loss increased to $7.4m. A 23% cut in forecast 2025-26 revenues to $42.5m means that Zoo Digital could continue to be loss making. Even so, net cash could improve from $2.6m to $3m. Rob Pursell has been appointed as finance director. The share price declined 23.7% to 9.25p.