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Aquis weekly Movers: OTAQ plans convertible fundraise

Aquaculture technology developer OTAQ (LON: OTAQ) plans to raise up to £2m from a convertible loan note issue. The conversion price will be 3p/share. The share price jumped 111% to 2p. A reduced loss is expected for 2023, even after exceptional costs. The 2023 results should be announced by the end of June. First quarter revenues are 19% ahead. The live plankton analysis system has been launched.

Quantum Exponential Group (LON: QBIT) is continuing discussions with a potential investor. The general meeting will be adjourned again until 14 June. The share price moved 22.2% higher at 0.55p.

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Digital assets investor KR1 (LON: KR1) reported a decline in 2023 revenues from £20.2m to £8.65m, but larger gains on digital assets mean that the reported profit was not down as much at £14.7m, from £19.5m. The introduction of the bitcoin ETF has helped the valuation of digital assets in the diversified portfolio. The share price increased 10.1% to 82p. NAV was 132.05p/share at the end of March 2024, which is higher than the figure at the end of 2023. The company has been buying back shares at a discount to that figure.

Communication services investor Global Connectivity (LON: GCON) had cash of £460,000 at the end of 2023. The 15% stake in Rural Broadband Solutions has been revalued to £3.17m. Net assets increased from £4.89m to £7.81m. The share price improved 8.33% to 0.65p.

EPE Special Opportunities (LON: EO.P) had net assets of 347.96p/share at the end of April 2024. The share price edged up 6.47% to 181p.

FALLERS

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The Hot Rocks Investments (LON: HRIP) share price halved to 0.1p following the death of chairman Brian Rowbotham. No new board appointment is planned.

Silverwood Brands (LON: SLWD) director Andrew Gerrie invested £20,000 in shares at just over 26p each. The share price declined 8.16% to 22.5p.

Fenikso (LON: FNK) has received a further loan repayment of £1.29m. The share price fell 8% to 1.15p.

Res Privata has increased its stake in WeCap (LON: WCAP) from 7.28% to 9.69%. The share price slipped 4.35% to 0.55p.

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