The Times: The headline rate of inflation rose in July, driven up by higher energy prices, according to official data released this morning by the Office for National Statistics. The CPI measure of inflation rose to 2.9 per cent in July, up from 2.6 per cent in June. The rise was in line with City forecasts.
Comment: The cost of living crisis continues. But what is not said enough, or not at all, is that it is a cost of taxation crisis. No one would baulk at 2.9% if most were not working for HMRC, rather than themselves, and kept more of their cash to pay their bills. Somehow “we’ll cut tax to help with inflation” does not sound like it will run as a policy.
Vast Resources plc (VAST), the AIM-quoted mining and resource development company with a portfolio of producing and development-stage precious and polymetallic projects in Tajikistan and Romania, announce the completion of the Reverse Takeover of the entire issued share capital of Gulf International Minerals Limited, the completion of the Placing and Subscription, the Share Consolidation, and the re-admission of the Company’s enlarged ordinary share capital to trading on AIM, with re-commencement of dealings in its Ordinary Shares expected to take place at 08:00 a.m. today, 19 August 2026.
Comment: Although it may be unfair to suggest that for much of its history VAST was hated like a disease by stock market punters, partly on the basis of the rinse and repeat fundraises, in the style of Premier African (PREM), this is not entirely wide of the mark. Hopefully, the latest RTO draws a line on all of this, and the company can move forward in a more loved and adored mode.
Tap Global Group plc (TAP), the innovative digital finance hub that brings money, payments and crypto settlement services together in a single user-friendly app, announces that it has submitted an application to OTC Markets Group Inc. for the Company’s existing ordinary shares to be cross traded on the OTCID Basic Market in the United States. The proposed OTCID listing will remove barriers to trading and will provide North America-based investors considerably easier access to Tap shares and, over time, the potential to broaden the Company’s shareholder base and support liquidity.
Comment: Many companies from over here look to the Shangri-La of a US liquidity pool, with mixed results. What we do know is that being listed on the OTCID does well for OTC Markets Group in the retainer it will receive. As far as TAP is concerned, cryptos may go up, they may go down, but its share price continues to go nowhere. Holders such as myself continue to feel fooled.
Oberon Investments Group plc (AQSE: OBE), the integrated investment management, financial planning, asset management and corporate advisory group, announced that it has raised approximately £1.4 million before expenses through the issue of approximately 68,761,899 new ordinary shares of 0.5 pence each in the Company at a price of 2.1 pence per share. The Issue Price was equal to the Company’s current offer price at the time the Fundraise was agreed. The Fundraise received strong support from existing and new investors, together with significant participation from staff and directors of the Group. £400,000 of the Fundraise was subscribed by existing VCT and institutional investors and approximately £300,000 of the total amount raised has been subscribed by Oberon staff and directors. The Board believes this demonstrates a strong level of internal confidence in the Group’s strategy and prospects.
Comment: Having hired almost everyone in the City of a certain age, apart from myself, it is understandable that we have regular fundraises at OBE. One hopes that sometime soon the results of all the acquisitions and ever-growing head count means that OBE can start handing back cash to shareholders rather than tapping them for it.
Nuformix plc (NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, updated on progress with NXP002, the Company’s lead programme and a potential novel inhaled treatment for Idiopathic Pulmonary Fibrosis (“IPF”), Progressive Pulmonary Fibrosis (“PPF”) and other progressive fibrosing interstitial lung diseases (“ILDs”). The Company is pleased to report positive results from the first of these studies, an inhaled pharmacokinetic and target engagement study designed to assess pulmonary exposure, systemic exposure and evidence of engagement of fibrosis-relevant markers following administration of NXP002 by inhalation.
Comment: NFX is one of several micro biotechs on the London market trying to be the next big thing. It has its fans, and is making progress on its lead candidate. Nevertheless, one wonders how big the addressable market is here, even if NXP002 gets over the line?
Defence Holdings PLC (ALRT), the UK software-led defence technology group, announces that its Chief Executive Officer, Andrew Roughan, has today published an Open Letter to Shareholders. The letter provides additional context to the Company’s announcement on 17 August 2026 regarding its £2 million cornerstone investment in the Defence Fund, marking the activation of the Investment Pillar of the Defence Holdings Playbook first outlined in May 2026. In the letter, Mr Roughan expands on the strategic rationale for the investment, how it aligns with the Company’s previously communicated five-pillar operating model, the reasons for establishing the Fund through a separate investment vehicle, the governance arrangements surrounding the Fund and the protections established for Defence Holdings and its shareholders.
Comment: To its credit, ALRT has read the room that some in the market are starting to question the company’s ability to monetize / commercialise what should be a very fashionable concept. After last year’s 45x rally even if the company was going to be the next Lockheed Martin, there may be something of a crisis of expectation, with even the £16m market cap hard to justify currently.
Fiinu (BANK) said it has been made aware that there is an error in some of the electronic voting instructions being made available to shareholders in connection with the Requisitioned General Meeting to be held at 11.00 a.m. on 11 September 2026. Certain electronic voting platforms have incorrectly displayed the Board recommendation as “FOR” in respect of the Requisitioned Resolutions.
THIS IS INCORRECT.
As clearly stated in the Company’s circular and Notice of Requisitioned General Meeting dated 17 August 2026, the Board unanimously recommends that shareholders VOTE AGAINST both Requisitioned Resolutions.
For the avoidance of doubt, the Board’s recommendations are:
Resolution 1 – Removal of Dr Marko Petteri Sjoblom from office as a director of the Company:
BOARD RECOMMENDATION: AGAINST
Resolution 2 – Advisory resolution concerning a review of the Company’s executive leadership and governance arrangements:
BOARD RECOMMENDATION: AGAINST
The Company is trying to contact those responsible to request that the error on those electronic voting platforms be corrected as a matter of urgency.
Shareholders who have already submitted voting instructions are encouraged to check their instructions and, if necessary, amend them in accordance with the procedures provided by their broker, nominee or voting platform and before the applicable voting deadline.
The Company apologises for any confusion caused by this error and reiterates that the Board unanimously recommends that shareholders VOTE AGAINST both Requisitioned Resolutions.
Comment: Whether or not one likes the current management of BANK or not, this is certainly not a good look and arguably makes anyone sitting on the fence here consider that a change may be better than soldiering on with the status quo. All rather unfortunate.
Empire Metals (EEE), the AIM-quoted and OTCQX-traded exploration and development company, reported an upgraded Mineral Resource Estimate (‘MRE’) at its Pitfield Project in Western Australia, confirming the Project as the world’s largest titanium resource. The MRE is reported in accordance with the Joint Ore Reserves Committee (‘JORC’) 2012 Code (The Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves) and includes Measured, Indicated and Inferred categories.
Comment: This month has seen shares of EEE hit the 50p price channel / technical target we have been looking for, and today’s announcement underlines why. It will be interesting to see whether after a decent share price run of late, it has been better to travel than arrive.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
