Aquis weekly movers: Limited liquidity leads to Investment Evolution Credit share price rise

A purchase of 4,250 shares in Investment Evolution Credit (LON: IEC) at 50p each led to a 125% jump in the share price to 45p. There were four other trades during the week, and they were at 24p/share and 25p/share. The online consumer loans company joined Aquis on 14 December 2023 when it raised £508,000 at 4.5p/share. There is no reason for the share price to have risen so far other than the limited liquidity of the shares.

Fuel additives developer SulNOx Group (LON: SNOX) generated third quarter revenues of £98,400, up from £53,500 in the second quarter. Nine months revenues were doubled. There is £2.68m in the bank. Fourth quarter invoiced sales are already £64,500. The share price improved 52.1% to 36.5p.

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Global Connectivity (LON: GCON) says 15%-owned investee company Rural Broadband Holdings has increased its stake in UK broadband provider Voneus from 32% to 36% as part of a £25m financing. The share price increased 14.3% to 0.8p.


Cooks Coffee Company (LON: COOK) has increased the number of coffee shops and revenues in the 12 months to December 2023 were 16% higher at £26.9m. Like-for-like UK sales were 6% ahead and in Ireland it was 6.8%. December was a record month and there was positive operating cash flow. The year-end is being changed to March. Even though the statement was positive, the share price fell 16.7% to 12.5p.

Electric motors and drivetrains developer Equipmake Holdings (LON: EQIP) has gained a contract for the next stage of its electric motor development with aerospace company H55 for electric aircraft. There will be £315,000 of work deliverable by the end of May 2024 with a further £400,000 after that. Aircraft production could commence in 2025. Dr Nicholas Moelders has been appointed as chief operating officer. Interim revenues rose from £1.05m to £2.07m, while the loss increased from £2.79m to £2.96m because of higher admin expenses. The share price declined 15.6% to 6.75p.

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Valereum (LON: VLRM) has restarted talks with Vinay Gupta of Mattereum and they are exploring potential opportunities. The share price dipped 6.12% to 4.6p.

Chief executive Dr Michael Hudson has acquired 50,000 EDX Medical Group (LON: EDX) shares at an average price of 8.89p each, taking his stake to 6.77%. The share price slipped 5.88% to 8p.

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