The AIM All-Share enjoyed a strong week, rising 1.4% to 744.11 and slightly outperforming the upbeat FTSE 100.
The FTSE 100 dropped by 0.3% on Friday, leading the gains to Prudential, which rose by 2.8%, closely followed by mining company Fresnillo, which also rose by 2.8%. On the downside, packaging leader DS Smith saw a decline of 3.4%, and British American Tobacco decreased by 3.2%.
In contrast, the mid-cap FTSE 250 saw an increase of 0.2%. The industrial metals group Dowlais, the index’s top performer, surged by 11.5%, with Fidelity China Special Situations climbing by 5.1%. The largest decline was seen in magazine publisher Future, which plummeted by 19.3%, and financial services firm CMC Markets, which fell by 5%.
Sky News Interview: Thomas Abraham-James, CEO of Pulsar Helium
It was an excellent first day of dealings for Pulsar Helium (PLSR) on Friday, the helium project development company. The shares were up 10% on their 25p IPO, and after that, it had £5m in gross funds to develop its flagship Topaz project.
Thomas Abraham-James, CEO of Pulsar Helium, discussing the company’s debut on the London Stock Exchange’s AIM market. Pulsar Helium, a Canadian helium exploration company, chose London for its listing due to strong interest from European investors and the strategic advantage of dual-listing in Canada and London.
CloudCoCo PLC (AIM: CLCO) saw its shares soar 180% to 0.32p following the announcement of the £9.2 million sale of its IT services subsidiary, a deal aimed at clearing the company’s debts. Additionally, CloudCoCo disclosed that it is in advanced negotiations to sell its Connect data centre services business.
Mothercare (LON: MTC) shares surged 46.76% to 4.99p after resuming trading, following the release of its 2023-24 results and a refinancing deal. The company secured a new £8 million two-year loan from Gordon Brothers, who received 43.4 million warrants exercisable at 8.5p per share. Additionally, a joint venture with Reliance Brands has been established, with Reliance acquiring a 51% stake for £16 million, covering the Indian subcontinent. For the year ending March 2024, underlying pre-tax profit slipped from £3.4 million to £3.1 million. Overall revenues continue to decline, and Cavendish anticipates a small loss this year.
Autoantibody profiling company Oncimmune Holdings PLC (AIM: ONC) ended a turbulent week on a high note, with shares climbing 12% to 15.6p on Friday. The autoantibody profiling specialist announced plans to recapitalize the company, targeting a minimum £2 million fundraising and aiming to reduce its debt by 50%.
Bushveld Minerals (LON: BMN) secured regulatory approval to sell Lemur, the holder of thermal coal licenses, for $100, effectively shedding $2.5 million in liabilities. Following the news, the share price rebounded 10% to 0.45p.
FALLERS
Emmerson PLC (LON: EML) shares plunged 72% this week, a decline that many consider an overreaction. The sharp drop came after receiving an “unfavorable recommendation” during the Environmental and Social Impact Assessment (ESIA) process for its Khemisset Potash Project in Morocco.
Oxford BioDynamics PLC (AIM: OBD) faced a challenging week, losing 70% of its market value after announcing plans to seek new funding. The company disclosed that senior staff would take 25% of their pay in newly issued shares and outlined a review of additional funding options, including potential asset sales or a spin-off of its US division. The stock closed the week at 1.12p.
Versarien PLC (AIM: VRS) saw its shares drop 41% to 0.3p after the advanced materials company raised £450,000 through the issuance of discounted shares.
Shares of security technology firm Thruvision Group PLC (LON: THRU) plunged 41% to 9.5p after issuing a profit warning. The announcement also included news that CEO Colin Evans would be departing to “pursue his non-executive directorship portfolio.”
