The AIM All-Share Index experienced a relatively uneventful week, dipping slightly by 0.24% to 740p by Friday, mirroring the performance of the FTSE 100 index.
The market showed a positive reaction to Chancellor Jeremy Hunt’s Spring Budget initially, with a noticeable increase in equities prices mid-week. However, the lack of unexpected announcements in the Budget meant its influence was short-lived.
An interesting development involved the announcement of a new import tax on nicotine-based vaping products. Details of the tax were not provided, but following this news, shares of the AIM-listed vape company Supreme plc unexpectedly surged by 18%.
In other news, the Halifax House Price Index for February indicated a moderate increase in UK house prices, rising by 1.7% compared to the previous year. This was a deceleration from the 2.3% growth recorded in the prior month, marking a quiet week in terms of significant macroeconomic updates.
This week, the London Stock Exchange saw a delisting from AIM-listed professional services group Mattioli Woods. On Friday, the company agreed to be acquired and removed from the stock exchange by private equity firm Pollen Street Capital for a sum of £432 million.
Pollen Street Capital is offering 804p per share in cash for Mattioli Woods, representing a 34% premium over the share price at the close of last Thursday.
Active Energy Group PLC (AIM: AEG, OTCQB: ATGVF) led the AIM movers this week following a settlement with Player Design, resulting in a cash payment of $1.65 million. This settlement allows the recoupment of funds designated for the Ashland Facility’s development and involves the transfer of some non-essential production equipment. The company’s shares soared by 123%.
ImmuPharma PLC (AIM: IMM) received a positive response from investors to its financial update. The company announced active negotiations with various potential partners to strike deals across its portfolio in 2024. The update highlighted the unrecognized value within the business, including its 10.8% stake in Incanthera valued at £916,000 and 7.3 million exercisable warrants. Following this announcement, ImmuPharma’s shares surged by 54%.
Itaconix PLC (AIM: ITX, OTCQB: ITXXF) continued its upward trajectory following last week’s trading update, which reported record annual revenues. The company, specializing in plant-based polymers, saw its shares rise by 30% this week.
Tlou Energy Ltd (AIM: TLOU, ASX: TOU, BSE: TLOU), an energy sector company focused on Africa, also saw a significant increase of 34% in its share price. The rise followed the interim results, which confirmed the company’s progress and plans to start supplying gas-fired power to the grid in Botswana later this year.
Finally, Harland & Wolff Group Holdings PLC (AIM: HARL), known for operating the renowned Port of Belfast dockyard, received preferred bidder status for the Falkland Islands Port Replacement Project by the Falkland Islands Government. This marked a significant turnaround for the shipbuilding and fabrication company after a previous bid for a contract with the Isles of Scilly Steamship Company was rejected in November. The news prompted a 26% spike in Harland & Wolff’s share price.
