AIM weekly movers: Question mark over Quiz rise and Revolution Beauty loses its shine

Clothing retailer Quiz (LON: QUIZ) is the best performer of the week, with the share price 44.8% higher at 15.925p. Schroder reduced its stake to below 10%, but there was no other news during the week. There was a noticeable increase in trading volumes. There wee more than one million shares trade on 2 August. This is the highest number traded in one day since the end of April when there were 165,000 shares traded. There were 1.3 million shares traded in the week.

The detection technology developer Kromek (LON: KMK) share price soared 35.1% 12.5p after the annual results announcement and a £1.7m convertible loan note fundraising with an 8% interest rate. The loan notes are convertible at 15p a share. In the year to April 2023, finnCap expects revenues to increase from £12.1m to £18m and the loss should fall from £6m to £4.9m. There is good revenue visibility.

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Information provider GlobalData (LON: DATA) increased interim revenues by 23% to £111.9m, including organic growth of 10%. Subscription revenues were 83% of the total. Invoiced forward revenues are 37% ahead at £114.6m. Underlying earnings were 27% higher at 20.7p a share. The interim dividend was raised by 26% to 7.7p a share. Acquisitions meant that net debt quadrupled to £190.5m. The share price jumped 34.2% to 1275p.  

Amur Minerals Corporation (LON: AMC) is proposing the disposal of the Kun-Manie project in Russia to Bering Metals for $35m. This asset is in the books at $24.3m, although there was a previous higher offer where payments were spread over 15 years which was rejected by shareholders. The share price jumped 32.3% to 1.27p, which capitalises the company at £17.7m. A special dividend of 1.8p a share is promised if the disposal gets shareholder approval.



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Cosmetics supplier Revolution Beauty (LON: REVB) Revolution Beauty is the latest of the 2021 AIM new admissions to put out a trading warning that has sent the share price tanking. It is the worst performer of the week and declined 65.1% to 18.5p. The July 2021 placing price was 160p. Revolution Beauty has delayed its 2021-22 results and cut its expectations for 2022-23. Poor retail demand in the US and the loss of £9m of Russian and Ukraine revenues have hit the new financial year. Online demand is switching to store sales and cost increases have hit profitability. Zeus has cut its 2022-23 EBITDA forecast by 38% to £19m, while higher net debt means that earnings are reduced by 64% to 1.5p a share. Jupiter Fund Management has reduced its stake from 16.8% to 11.5%.

Tower Resources (LON: TRP) shares have slumped after it announced a £1.5m fundraising at 0.175p a share. The share price declined 29.1% to 0.202p. The oil and gas company is progressing with the financing of its NIOM-3 well in Cameroon and the cash raised will go towards payments on account for services associated with the well while the financing is secured and for working capital.

Sabien Technology (LON: SNT) is raised £500,000 through a placing at 10p a share, and then a further £100,000 from existing shareholders via an oversubscribed broker option. The cash will be used to finance the company’s green technology businesses. The share price dived 27.7% to 11.75p.

Western Siberia-focused oil and gas company Petroneft Resources (LON: PTR) shares fell 20.5% to 0.875p after it was given a three-month extension for the publication of its 2021 results. The share price has been in decline since the Russian invasion of Ukraine. The reservoir stimulation at the Tungolsky licence 61 has been completed and that should add 200 barrels of oil a day. The company is truing to maximise exports. Total production in the five months to the end of May 2022, there were 285,710 barrels of oil produced and the average price is higher than in the same period last year.

Yacht services provider GYG (LON: GYG) fell sharply after asking shareholders to agree to it dropping its AIM quotation at a meeting to be held on 31 August. The shares fell 19% to 25.5p, having been as low as 20p at one point. Poor trading in recent years and lack of investor interest are two reasons for the proposed cancelation. Costs can be reduced by €700,000 a year. There is a lack of capital to grow the business. Harwood Capital, which previously considered a 92.5p a share bid for GYG, has increased its stake from 20.5% to 22.2%.

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