AIM weekly movers: UK Oil and Gas debt free

UK Oil and Gas (LON: UKOG) was the highest riser in the week following the ending of a convertible loan facility. Shore Capital has slightly reduced its stake to 12.8% The repayment of the convertible loan facility provided by RiverFort Global Opportunities and YA II PN means that the company is debt free. The share price jumped 80.6% to 0.028p.

Inspiration Healthcare (LON: IHC) has finally signed the £3.3m Middle East contract it has been waiting for. The equipment should be shipped in the period to year-end in January 2025. This covers the majority of the revenues needed to be gained to achieve the full year forecast revenues of £41m. Earlier in the week, BGF Investment Management increased its stake to more than 21%. The share price has rebounded 47.2% to 26.5p.

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Hydrogen and fertiliser projects developer Atome (LON: ATOM) has signed heads of terms for a fertiliser offtake agreement with Yara. This covers the Villeta project in Paraguay. This will help to achieve full financing of the project by the end of 2024. The Villeta facility could produce 260,000tpa of fertiliser. Yara is the largest fertiliser and ammonia trader and the fertiliser produced at Villeta should be sold at a premium price. The share price is 41.4% higher at 82p.

Investors are pleased that there will be no more share dilution from conversions of the convertible bonds facility that SkinBioTherapeutics (LON: SBTX) had put in place. The skin treatments developer received the final conversion notice from Macquarie for £480,000 of bonds. There will be 5.85 million shares issued at 8.207064p/share. There will be no more drawings on this facility. The share price improved 37.8% to 12.4p.

FALLERS

Aptamer (LON: APTA) is raising £2.83m at 0.2p/share, which was a large discount to the market price. The share price slumped 54.8% to 0.26p. The cash is required to get the full potential from its Optimer binder technology. There are relationships with the top ten pharma companies and there is potential for licensing the technology in the next few years. The fixed cost base will be reduced from £3.5m to £2.9m.

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Destiny Pharma (LON: DEST) and Sondrel (LON: SND) continue to fall ahead of their proposed departures from AIM. Destiny Pharma put out an announcement that a study shows cardiac surgery patients treated with its XF-73 nasal gel require fewer antibiotics. Even so, the share price fell an additional 52.1% to 2.25p. The notice of the Sondrel general meeting was sent out last Monday and the share price dipped a further 38.5% to 2p.

There was yet another fundraising from graphene technology developer Versarien (LON: VRS) and this generated £550,000 at 0.065p/share. This will finance the purchase of concrete and mortar testing equipment for the Cementine admixtures developed using 3D construction printing. The share price slipped 37.6% to 0.0675p.

A change in marketing strategy for its business to consumer business has not helped gambling firm Webis (LON: WEB) as much as it hoped. Bad weather caused cancelations of race meetings in the US. This means that the second half loss will be similar to the interim figure of $541,000. The share price dived 35.7% to 0.9p, having been 0.8p at one point, which is the lowest it has been since March 2020.

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