Aquis weekly movers: Marula Mining appoints AIM float advisers

Marula Mining (LON: MARU) has appointed additional advisers for the proposed move to AIM. This includes MSA Group as technical consultant and it will complete a competent persons report on the portfolio of battery metals projects in Africa. The share price jumped 16.4% to 8.875p.

Fuel additives company SulNOx Group (LON: SNOX) chief executive Ben Richardson is stepping down from the board. He is staying with the business and will focus on sales and business development. The share price is 8.7% higher at 5p, which represents a recovery from its recent low.

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SuperSeed Capital Ltd (LON: WWW) managing director Mads Jensen acquired 14,491 shares at an average price of 82p. The share price rose 2.94% to 87.5p.

Selling of Quantum Exponential Group (LON: QBIT) shares late in the week led to a share price fall of 25.5p to 1.75p. That is still above the all-time low. Management confirmed that it is still trying to set up a private limited partnership and raise £100m.

NFT Investment (LON: NFT) plans to return cash to shareholders, but not until the Bitcoin halving that is likely to take place in April 2024. Every four years the rate of Bitcoin creation halves and that tends to spark an increase in the price. This cash return would be via a tender offer to help to reduce the discount to NAV. The liquid crypto portfolio is currently worth 2.87p a share and NAV is 3.61p a share. Quarterly updates on holdings are promised. After last week’s rise, the share price has fallen back 13.8% to 1.4p.

Mike Cuthbert has been appointed chairman of Oberon Investments (LON: OBE), having previously worked at Zeus and Canaccord Genuity. Former Sanlam chief investment officer Phil Smeaton has been appointed head of investments. The share price declined by 13.3% to 3.25p.

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Crypto app company Tap Global Group (LON: TAP) says registered users were near to 140,000 by the end of February and revenues are growing. The share price slipped 11.4% to 3.9p.

Adverse economic conditions meant that the NAV of EPE Special Opportunities (LON: EO.P) fell from 456p a share to 328p a share in the 12 months to January 2023. This included £24.5m in cash after share buy backs. There are loan notes of £4m and £20.7m in zero dividend preference shares. New investments are being reviewed. The share price fell 5.56% to 170p.

Brewer Shepherd Neame (LON: SHEP) reported a 8% increase in interim revenue to £85.3m. Pre-tax profit recovered from £3m to £3.5m despite inflationary pressures. The interim dividend has been raised by 14% to 4p a share. Like-for-like own beer volume was 12.7% ahead, although total volumes were slightly lower. There was a small operating loss in this division. Like-for-like retail sales were 11.9% ahead even though food sales fell. Tenanted income was 7% higher. Retail sales and tenanted income continued to grow in the 12 weeks to 18 March, but own beer volumes have declined. Following the results, director George Barnes acquired 6,000 shares at 605p each. The share price slipped 1.65% to 595p.

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