Staffing firm Staffline (LON: STAF) is selling its workplace training business PeoplePlus for up to £6.9m – £12m minus £5.1m deduction for advanced payments. The change in government has led to uncertainty concerning training and delays in client decisions. PeoplePlus was expected to make a 2025 pre-tax profit of £300,000, down from £1.3m in 2024. Panmure Liberum expects an £11.1m non-cash write down on the business. A share buyback has been launched. This could acquire up to £7.5m worth of shares. The share price recovered 41.7% to 32.8p.
Beowulf Mining (LON: BEM) reported 2024 results after the closure of the market on Friday. The 37.5% rise in the share price to 22p, happened before the release. Management says that the company will require working capital in the very near term and work is underway with advisers.
Retail software provider itim Group (LON: ITIM) says that 2024 revenues were 5% better than expected at £17.9m thanks to contract wins in the second half. This enabled itim to move back into profit. Zeus forecasts a 2024 pre-tax profit of £200,000 and upgraded its 2025 figure to £500,000. The share price increased 34.1% to 55p.
EnergyPathways (LON: EPP) has signed a non-binding memorandum of understanding with a clean energy fund, which would be a cornerstone investor in an equity funding at higher than the current share price. This will provide cash for the development of the MESH energy storage project. A FTSE 100 constituent is interested in long-term storage capacity. The final concept engineering report has been submitted and a decision on the application for a gas storage licence is expected soon. The MESH project could be operational by the end of 2027. The share price rose 22.3% to 6.85p, having been as high as 8.25p during the week.
FALLERS
Online building materials retailer CMO Group (LON: CMO) has reviewed its strategic options and decided that it should leave AIM because it cannot source the finance it requires. This should save £700,000/year. JP Jenkins will provide a matched bargains market. CMO joined AIM at the height of the Covid-related boom in DIY and its results have declined since then. The market is currently declining, although there are signs of improvement in February. CMO raised £45m at 132p/share when it joined AIM in July 2021. The share price slumped 69.9% to 1.25p.
Great Western Mining Corporation (LON: GWMO) plans to consolidate 200 existing shares into one new share and then reduce the par value, which is currently higher than the share price, from €0.02 to €0.0001. This will enable the Nevada-focused miner to issue shares for additional funding. The share price dipped 30% to 0.0105p.
Antibody profiling company Oncimmune (LON: ONC) shares continue their decline as it says that it is in talks to raise cash ahead of the current money running out in April. Alvarez & Marsal has been appointed to target potential partners and investors. The share price fell 29.4% to 1.75p.
Wine maker Gusbourne (LON: GUS) is holding the general meeting to gain approval for its departure from AIM on 7 March. The share price continued its decline and is 28.1% lower at 11.5p.
At the AGM, Active Energy Group (LON: AEG) shareholders approved the reduction in the par value of shares from 0.35p to 0.035p. The share price slid 27.7% to 0.235p.