AI-based services provider to smaller businesses Pri0r1ty Intelligence Group (LON: PR1) has announced a formal Bitcoin treasury management policy. The company can retain Bitcoin, but not other cryptocurrencies. No more than 50% of surplus cash can be retained in Bitcoin. Karen Lewis-Hollis has resigned from the board. The share price jumped 230% to 7.75p.
Tiger Royalties and Investments (LON: TIR) says the recently acquired Tiger Alpha Bittensor Subnet is producing six TAO, Bittensor’s cryptocurrency, after one month. The monthly run rate is equivalent to almost $70,000. TAO has a total market value of $3.4bn. Tao Alpha will manage and accelerate the Tiger subnet infrastructure in return for 20% of the revenues. The share price soared 207% to 0.33p.
There was no new from Active Energy Group (LON: AEG) but there was a spurt of trading late on Friday and 21.5 million shares were traded. There were hardly any shares traded to 1.30pm. This was the largest number of shares traded in one day sine 34.9 million shares were traded when the shares returned from suspension on 18 December 2024. The suspension had lasted since 2 July. The share price rebounded 156% to 0.55p.
Directa Plus (LON: DCTA) chief executive Giulio Cesareo has acquired a further 23,500 shares at 18p each in the graphene products developer. This follows the previous purchases of 25,000 shares at 8.15p and 50,000 shares at 11.25p/share. That takes his stake to 4.21%. Chairman Richard Hickinbotham bought 25,000 shares at 8.17p each. This sparked a share price rise of 121% to 18.75p. That is the highest the share price has been for nearly one year.
FALLERS
Defence services provider RC Fornax (LON: RCFX) has issued a trading warning weeks after joining AIM. There have been delays in spending due to the Strategic Defence Review. The disruption related to the flotation on AIM is also blamed for a lack of new orders. Co-founder Dan Clark is stepping down. Cavendish has slashed its forecast revenues for the year to August 2025 by nearly two-thirds to £4m, down from £6.5m last year. That means that there will be a £1m loss. The share price had soared from the February 2025 placing place of 32.5p. Chair Mark Fahy, who bought his initial shares in the placing, acquired a further 38,173 shares at 26.95p each. Finance director Rob Shepherd bought an initial 93,000 shares at 26.8p each. The share price slumped 41.7% to 30p, having been as low as 21.5p.
Frasers Group (LON: FRAS) has decided not to make an offer for cosmetics supplier Revolution Beauty (LON: REVB). There is continued engagement with other parties interested in a deal, as well as with shareholders about the alternative of a fundraising. The share price fell by two-fifths to 4.85p, which is just above the all-time low.
Litigation Capital Management (LON: LIT) has lost a case that it co-funded. It invested £3.4m directly and its Fund 1 invested £8.2m. Total realisations for this year are A$55m, which excludes the Queensland Electricity and Quintis claims where there are appeals. Economic conditions mean that marketing for Fund III has been delayed. Cavendish forecast a A$41.7m loss in the year to June 2025. The share price lipped 37.5% to 28.45p.
Karelian Diamond Resources (LON: KDR) is rising £185,000 at 0.75p/share. This will provide cash to help to exploit the recently granted mining concession for the diamond deposit at Lahtojokii in Finland. There will also be spending on further exploration of the historic Cappagh copper mine and the surrounding area. The share price declined 32% to 0.85p.