Aquis weekly movers: Strong start to the year by ProBiotix Health
Coinsilium (LON: COIN) has raised £2.5m from a placing at 6p/share and more will come from a retail offer. The cash will be invested in Forza (Gibraltar) for Bitcoin-based treasury activities. It currently owns 10.0021 Bitcoins at an average purchase price of £81,696.90. The share price increased 29% to 6.9p.
Probiotic ingredients developer ProBiotix Health (LON: PBX) reported that it had a strong first quarter in 2026 with growth of 50%. This was at the same time as reporting a 13% increase in 2024 sales to £1.883m. Gross margins are more than 50%. There is £1.65m in the bank after a cash outflow of just over £1m. The cost base is broadly in line with requirements so the majority of additional revenues should drop through to profit. New deals have been signed with Kemin China and TopHealth in South Korea. There are also new product launches in the second half. This should help revenues to grow this year. Currently, North America dominates revenues. There are already 24 customers and more than 100 leads. The target is revenues of £10m in 2028 and that should produce £2m of EBITDA. The share price rebounded 22.2% to 8.25p.
Helium Ventures (LON: HEV) has signed a strategic deal with NewQube Holdings to establish a Bitcoin treasury function. There has been £1.2m raised at 2p/share and this will be invested in Bitcoin. The company name will be changed to VaultZ Capital. The share price rose 21.4% to 4.25p.
Smarter Web Company (LON: SWC) has increased its Bitcoin holding to 83.24 and the average purchase price was $78,567 for each Bitcoin. Andrew Smith has increased his stake from 8.6% to 11.2%. The share price added a further 19.6% to 82.5p.
Tap Global Group (LON: TAP) has received an income boost from recoupment of Bitcoin rewards. There are approximately five Bitcoins that will be added to assets. The share price improved 13.3% to 1.7p.
Flow batteries supplier Invinity Energy Services (LON: IES) reported a fall in full year revenues from £22.1m to £5m, but the loss was lower and the increased number of shares in issue meant that the loss per share fell from 14.7p to 5.3p. Net cash is £32m. Revenues should rebound this year, and the loss fall again. Breakeven is possible in 2026 and net cash could still be £7m at the end of 2026. The share price is one-eighth higher at 15.75p.
Shares in File Forge Technology (LON: FILE) returned from suspension after the acquisition of Amirose London and a 24-for-one share consolidation. The consolidated price rose 10.1% to 1.85p.
BWA Holdings (LON: BWAP) chairman Jonathan Wearing has subscribed £200,000 for shares at 0.6p each and loaned a further £240,000 repayable by 30 June 2027. This will fund the development of assets in Cameroon. The company believes that there is interest in the mineral sands sector in the country. The share price rose 10.5% to 0.525p.
Lift Global Ventures (LON: LFT) investee company Trans-Africa Energy hopes to agree a cash injection by the end of June and the loan has been extended by a further month. The share price increased 9.09% to 0.6p.
IntelliAM AI (LON: INT) chief executive Tom Clayton bought 10,962 shares at 82p each. The share price edged up 2.94% to 87.5p.
Valereum (LON: VLRM) says VLRM Markets has gone live. A memorandum of understanding has been signed with Blubird Global Inc, which operates a platform that administers more than $55bn of token assets. Valereum will have access to Blubird tools, and it will promote Valereum to selected customers. There is also potential for Valereum to offer the Blubird suite under its brand. Valereum has entered a tokenisation partnership agreement with football team Club Deportivo Futbolistas Asociados Santanecos. The share price improved 2.06% to 4.95p.
FALLERS
Marula Mining (LON: MARU) has terminated its subscription agreement with AUO Commercial Brokerage. Instead, an unsecured debt facility will be put in place. As part of the deal 50% of the shares issued to AUO will be cancelled, so 27 million shares will be issued. A company associated with chief executive Jason Brewer bought 16.5 million shares at 3.75p each. The share price declined 6.06% to 3.875p.
Peel Hunt initially reduced its stake in WeCap (LON: WCAP) but ended the week with a higher stake of 19%. The share price fell 3.65% to 0.925p.
KR1 (LON: KR1) had net assets of 47.79p/share at the end of April 2025, down from 52.16p/share at the end of March 2025. The digital assets generated income of £394,091 during the month. The share price dipped 2.6% to 37.5p.
Brewer Adnams (LON: ADB) grew 2024 sales by 3% to £68.1m and the loss was reduced. The only part of the business that declined was retail. Contract work helped the brewing and distillery operations. Net debt edged down to £15.3m and asset disposals will enable further reductions. The business will try to offset rising costs. The share price slid 1.89% to 1300p.
AIM weekly movers: IG Design offloads American business
Blue Star Capital (LON: BLU) says investee company SatoshiPay has a stake in Vortex, which has achieved transaction volumes of $1m since launch in Europe and Brazil. The Vortex platform enables the swapping of stablecoins for local currencies. The share price jumped 133% to 10.5p.
Peptide drug conjugates developer Avacta (LON: AVCT) has appointed David Bryant and Zeus founder Richard Hughes as non-executive directors. Yesterday, Avacta reported delays in its audit and results for 2024 have delayed to 4 June. The share price improved 38.2% to 3.2p.
IG Design (LON: IGR) has sold its American division to a company set up by Hilco Capital. The upfront payment is a nominal $1 and 75% of any proceeds from sale or realisation of assets after the disposal, after agreed adjustments. There may be no additional consideration, especially if the business is not sold. Money owed by the American division will be assigned to the buyer for $1. This business had net assets of $245.4m at the end of September 2024, but it has fallen into loss since then. There will be a considerable write-down of this asset value in the 2024-25 accounts. The risk of further losses is avoided. New financing is being arranged. The share price recovered 34.9% to 85p.
Poolbeg Pharma (LON: POLB) has been granted orphan drug designation by the FDA in the US for POLB001 for treating cytokine release syndrome caused by T cell engager bispecific antibodies. This is a side effect of cancer treatments. POLB001 is ready for a phase 2 study. The status provides seven-year exclusivity after US approval, plus tax credits for development spending. This is a $10bn market. There is potential for securing a partner for clinical trials. The share price rose 30.6% to 3.2p.
FALLERS
A surprise trading statement from contract research business hVIVO (LON: HVO) reveals two contracts have been cancelled, including one large human challenge trial, and one has been postponed, triggered by fears about drug pricing in the US. Contracted revenues are still £47m, but Cavendish expects a loss this year. The share price slumped 48.8% to 8.7p.
Diagnostics company Angle (LON: AGL) increased 2024 revenues by 31% to £2.9m, although the product mix and early discounts to pharma customers meant that gross margins declined. The loss was reduced by 29% to £14.2m after cost savings. Net cash was £10.4m at the end of 2024 with £2.3m of tax credits due, of which £1.4m have been received. The cash should last until the first quarter of 2026. There is uncertainty about timing of new deals that will help to further improve revenues. The share price slipped 23.8% to 8p.
Student accommodation and residential property developer Watkin Jones (LON: WJG) reported interims in line with expectations. Revenues fell from £175m to £129m and there was a pre-tax profit of £200,000, down from £3.4m in the corresponding period. Net cash improved to £73.4m. Further forward sales will enable a pre-tax profit of £4.2m for the full year, but timing is not assured. The share price declined 23.6% to 28.3p.
Catenai (LON: CTAI) investee company Alludium is being included in the NVIDIA Inception partnership programme for AI start-ups. This will help Alludium to expand by having access to NVIDIA technology and it will be offered at a preferential price. There will also be networking opportunities. The share price is one-fifth lower at 0.38p, but it is still 68.9% higher than at the start of the year.
AIM movers: Second Unilever deal for Aptamer and hVIVO hit by cancellations
Synthetic binders developer Aptamer (LON: APTA) has signed a second deal with Unilever for the to develop a panel of Optimer binders for an additional biological pathway associated with body odour formation. This is a fee-for-service deal that will be worth a six-figure sum. On-person trials are planned for the previous programme should commence later this year. The share price increased 13.2% to 0.385p, which is the highest since early March.
Coral Products (LON: CRU) non-executive director David Low has bought 25,000 shares at 8.26p each. He owns 1.57% of the plastic products supplier. The share price moved up 12.1% to 0.385p.
Pharmacogenetic testing company Genedrive (LON: GDR) has gained CE certification for its rapid CYP2C19 ID kit genotyping platform under the European In Vitro Diagnostic Regulation 2017/746. This will enable the kit to be sold in EU countries. Genedrive claims that the platform could potentially prevent 3,000 recurrent stroke admissions in the UK. The share price rose 5.66% to 1.4p.
Logistics Development Group (LON: LDG) had net assets of 24.6p/share at the end of March 2025. Following the recent tender offer, the figure has increased to 26.1p/share. The share price improved 1.67% to 15.25p.
FALLERS
A surprise trading statement from contract research business hVIVO (LON: HVO) reveals two contracts have been cancelled, including one large human challenge trial, and one has been postponed, triggered by fears about drug pricing in the US. Contracted revenues are still £47m, but Cavendish expects a loss this year. The share price slumped 44.4% to 9p.
Petro Matad (LON: MATD) says invoices for seven months of oil sales have been processed ready for payment, but there are delays as the Mongolian authorities assess if there any tax implications. This means that the cash will not be received in May as anticipated. Discussions continue with potential partners for Block XX, which will generate funds for its further development. The share price dived 31.2% to 1.6p.
Flow batteries supplier Invinity Energy Services (LON: IES) reported a fall in full year revenues from £22.1m to £5m, but the loss was lower and the increased number of shares in issue meant that the loss per share fell from 14.7p to 5.3p. Net cash is £32m. Revenues should rebound this year, and the loss fall again. Breakeven is possible in 2026 and net cash could still be £7m at the end of 2026. The share price fell 8.82% to 15.5p.
In the first quarter of 2025, Arrow Exploration (LON: AXL) produced 4,100 barrels of oil equivalent/day. Colombia production declined, but Canada more than made up for that. Production should grow further after a second drilling rig arrives in early June. Up to four wells will be drilled. Net cash was $24m at 1 May. Cash generation will contribute to the $50m of capex in 2025. There is a two-year crude pre-payment agreement with an energy company to market the oil in Colombia. The share price declined 2.94% to 16.5p.
FTSE 100 shakes off tariff twist as M&G soars
The FTSE 100 was firmly higher on Friday as investors shrugged off the latest twist in the trade tariff saga and focused on positive stories closer to home.
London’s leading index rose 0.8% on Friday despite a US appeals court blocking a decision to suspend Donald Trump’s ‘Liberation Day’ tariffs – a move that weighed on US indices overnight.
“When it comes to global trade right now the only certainty is uncertainty. Just a day after US courts halted the lion’s share of Trump’s recent tariff increases, judges have temporarily reinstated the new border taxes,” explained Derren Nathan, head of equity research, Hargreaves Lansdown.
The FTSE 100 has diverged from US indices on a number of occasions this week, with London missing out on a Nvidia-inspired rally but showing greater resilience in the face of the latest development in Donald Trump’s trade war.
“A rally on Wall Street ran out of steam overnight and futures markets are pointing to declines later for the main indices. The FTSE 100 managed gains on Friday morning despite the miners trading lower amid the continuing economic turmoil,” according to AJ Bell investment director Russ Mould.
“The usually staid insurance sector burst into life as M&G’s strategic partnership with Japan’s Dai-ichi Life generated excitement. The deal is expected to generate significant business for the company over the next five years.”
M&G was by far the FTSE 100’s best performer on the session following news of their new strategic partnership with gains of over 6%.
“It brings together two highly complementary international businesses with shared growth ambitions who aim to deliver excellent client service and sustainable shareholder returns,” said Andrea Rossi, Group CEO of M&G.
“It will enable us to further capitalise on the significant private market opportunities across Europe and enable even greater access to the Japanese and Asian market where we will benefit from Dai-ichi Life Holdings market-leading expertise.”
Additional support for the FTSE 100 came from other financials that jumped on M&G’s coattails. Beazley, Hiscox and Schroders were all higher by more than 1% at the time of writing.
IAG was the top faller, giving up around 1%, on nothing more than light profit taking.
M&G shares jump on Dai-ichi Life strategic partnership
M&G shares jumped on Friday after the asset manager announced a strategic partnership with Dai-ichi Life, a Japanese life insurance company with 67.5 trillion yen (£345 billion) in total assets.
M&G has forged an ‘ambitious’ strategic alliance with Japan’s Dai-ichi Life Holdings that will accelerate its European private markets expansion whilst opening doors to lucrative Asian markets.
The partnership positions M&G as Dai-ichi Life HD’s preferred asset management partner in Europe and is expected to generate at least $6 billion in new business flows for the British firm over the next five years. Of this, at least $3 billion will flow into M&G’s market-leading high-alpha strategies across public and private markets.
The deal underscores M&G’s international growth strategy, providing access to Japanese and broader Asian distribution channels through one of the region’s largest insurers.
Dai-ichi Life HD manages substantial assets and the partnership will see M&G support the Japanese firm’s European investment requirements for both its own balance sheet and customer portfolios.
As part of the arrangement, Dai-ichi Life HD will acquire approximately 15% of M&G’s shares through on-market purchases, demonstrating strong confidence in the British firm’s growth prospects. The Japanese insurer will gain board representation and the companies will collaborate on product development and distribution.
Half of the projected $6 billion in new flows will come directly from Dai-ichi Life HD’s balance sheet on an evergreen basis, with the remainder generated through joint development opportunities and product distribution initiatives.
“The strategic partnership with Dai-ichi Life Holdings and the associated c.15% investment is recognition of M&G’s strengths and clear confidence in our leadership, strategy and long-term prospects,” said Andrea Rossi, Group CEO of M&G.
“It brings together two highly complementary international businesses with shared growth ambitions who aim to deliver excellent client service and sustainable shareholder returns.”
The partnership also opens potential for M&G to tap into Japan’s substantial retail market, with Dai-ichi Life HD considering distributing M&G products across Japan and Asia. Both firms will explore co-investment opportunities in new asset management capabilities aligned with their respective growth priorities.
Today’s 6% gain in M&G shares extends their year-to-date rally to 20% and takes the share price to the highest level since early 2024. And it still has a yield of 8%.
Aurora UK Alpha Investment Presentation May 2025
Kartik Kumar, Co-Portfolio Manager of Aurora UK Alpha provides an insight into the company’s research intensive process of selecting underlying holdings.
