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Aquis weekly movers: Samarkand improves performance

Shares in Samarkand (LON: SMK) doubled to 4p following a trading update. Although revenues will be slightly lower than expected – with a decrease of up to 4% – the ecommerce services provider’s EBITDA will be halved in line with expectations. Owned brands generated 46% of revenues with the decline coming in third party brands. Samarkand has acquired Optimised Energies, which has brands Natures Greatest Secret and BeNatural, for £600,000 in cash and deferred consideration of £700,000. The acquired company made EBITDA of £300,000 last year. Executive directors have lent £400,000 to the company for fund the acquisition.

Aquis-quoted Phoenix Digital Assets (LON: PNIX) is proposing a tender offer of up to £33.7m at a share price of 5.39p/share. That covers up to 57.9% of the current share capital. The tender price is equivalent to the current NAV since the recovery in Bitcoin and adjusted for potential tax. The company has available cash of £40.6m. Phoenix Digital Assets also has 17.4 million shares in Flex Labs Inc (LSE: FLEX) after it acquired IO+ PTE. The tender offer is open until 13 June. The share price rose by one-quarter to 4.5p.

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Flow battery technology developer Invinity Energy Systems (LON: IES) raised £56m at 23p/share via a placing with £25m committed by the UK Infrastructure Bank and £3m from Korean Investment Partners. The open offer raised an additional £1.38m out of the £6.6m of shares that were on offer. The share price recovered 1.1% to 23p.

FALLERS

Arbuthnot Banking (LON: ARBB) says trading is in line with expectations, although loan growth has been minimal. Specialist lending has been growing faster. Interim results are due on 23 July. The share price dipped 7.88% to 935p.

Metals One (LON: MET1) has terminated the farm-in agreement with Gunsynd (LON: GUN). The Gunsynd share price is 7.41% lower at 0.125p.

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Clarify Pharma has changed its focus to Filecoin staking nodes and changed its name to File Forge Technology (LON: FILE). The share price fell 6.67% to 0.07p.

Wishbone Gold (LON: WSBN) has raised £250,000 from warrants at 1p each. This cash will fund gold and copper exploration in Western Australia. The share price declined 3.33% to 1.45p.

Digital assets investor KR1 (LON: KR1) has bought back 273,000 shares for around £220,000. The share price slipped 1.83% to 80.5p, which is below the average price paid.

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