Aquis weekly movers: ABF bids for National Milk Records

Fully listed Associated British Foods (LON: ABF) has launched a recommended bid for National Milk Records (LON: NMRP). The 215p a share bid values the milk payment testing company at £48m. The share price jumped 77.4% to 204p. has not been as high as this since 2009. The previous peak was in 2019. The business will be integrated with AB Agri.

The Castlefield Investment Partners stake in Capital for Colleagues (LON: CFCP) has slipped below 42%. The share price rose 19% to 62.5p. Net assets were 77.78p a share at the end of February 2023.

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Marula Mining (LON: MARU) has appointed Tokkas Van Heerden as chief operating officer ahead of a move to AIM. He has been working at the company for one year and will manage the operations in Africa. The share price improved 16.4% to 10.625p.

Invinity Energy Systems (LON: IES) is deploying a 1.2MWh first prototype of next generation vanadium flow battery product called Mistral in Canada. Mistral is being jointly developed with Gamesa. The share price increased 7.69% to 42p.

Oberon Investments (LON: OBE) has received FCA approval for the acquisition of 63% of Logic Investments, which has developed its own fintech platform. The two companies will combine their back office functions. The share price rose 6.85% to 3.9p.

Fenikso Ltd (LON: FNK) has received a further $644,000 of the money owed as part of the Fenikso restructuring. At the end of 2022, NAV was $19.5m. The share price edged up 3.45% to 0.75p.

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Brewer and pubs operator Adnams (LON: ADB) grew beer volumes by 2.7% in 2022. The low and no alcohol sector is growing in importance. Revenues improved from £57.4m to £64.2m, but the loss increased from £1.39m to £2.29m. NAV improved to £25.5m because there is no longer a pension liability. Net debt is £13.9m. The share price increased 2.92% to 7050p.

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Fallers

Cadence Minerals (LON: KDNC) investee company European Metal Holdings (LON: EMH) says its 49% owned subsidiary has agreed to purchase land on which it plans to build a lithium plant at a cost of nearly $44m. Cadence Minerals shares slipped 1.05% to 8.46p.

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