Share Talk Weekly Small Cap Movers & Shakers, Saturday 25th June 2022

Clontarf Energy Plc (AIM: CLON) share price sprung to life when Share talk announced they would be speaking with David Horgan, Chairman of the company.

The share price hit a 15% gain leading up to the release of the interview at one point during the morning trading.

 

Phoenix Global Resources PLC, (AIM: PGR) stood out as a small-cap that is heading higher. It confirmed that Mercuria Energy Group, 84% shareholder, was considering purchasing the company and making it private.

After Phoenix announced that any offer would be around 7.5p per share, shares rose 29% to 6.475p

AssetCo PLC (AIM: ASTO ), which is described as an “agile asset management and wealth management company”, has agreed to acquire SVM Asset Management for approximately £10.7mln.

AssetCo jumped to 860p, an increase of 25% over the previous week.

Iofina PLC, (AIM: IOF) announced that Chrystal Kapital Partners has been appointed as a financial advisory partner.

Chrystal Kapital will provide strategic advice to the company on its approach to equity markets and business development, including helping with engagements with single-family offices, new investment funds and ultra-high net worth individuals.

Iofina shares, which are specialists in the exploration, production and distribution of iodine and a manufacturer of speciality chemicals products, were 14% higher this week.

ENGAGE XR Holdings PLC (AIM: EXR)  is a virtual reality communications company that has signed up HTC. The Virtual Human Interaction Lab at Stanford University has been confirmed as a launch partner for the launch group’s Metaverse offering for businesses. The launch will take place in the fourth quarter of 2022.

ENGAGE announced that HTX will use ENGAGE’s MetaVerse platform for the Lab to create and design their own MetaWorlds. This will allow them to interact and host real business deals and professional virtual events within ENGAGE.

ENGAGE shares were almost 29% higher at 13.5p

IOG PLC (AIM: IOG) the UK’s gas and infrastructure operator, jumped 20% to 28.25p following a well-received corporate upgrade.

Andrew Hockey, chief executive of the group, stated that production at Saturn Banks in the North Sea is continuing to be restored as per plan, up to 54mln cubes per day (mmscf/d), gross currently at 30 mmscf/d.

Hockey stated, “Allowing for unplanned and planned downtime, we expect 45-60 mmscf/d net on average over 2H22.”

Hurricane Energy PLC, (AIM: HUR) stormed 17% higher at 7.375p after Robin Allan was appointed as an independent, non-executive director. Robin Allan is a former Premier Oil director.

The relationship between the company and the City has been difficult. Allan’s appointment was welcomed warmly.

Allan will be the chair of the Environmental, Social and Governance Committee (ESG), and will also become a member the Technical Committee.

Next, we move on to the gaming industry and Gaming Realms PLC. (AIM: GMR), and Bidstack Grup PLC. (AIM: BIDS).

Gaming Realms saw a 14% increase in revenue to 25.175p following the award of an Online Gaming Service Provider license by Connecticut’s Department of Consumer Protection.

Four states now license the developer and licensor for mobile-focused gaming content.

Bidstack’s clever technology, which inserts non-obtrusive advertisements into computer games, saw a 12.5% increase to 2.7p after David Reeves was named its chairman in advance of the September handover to succeed Donald Stewart.

Reeves brings over 30 years of experience in senior management positions within the video game industry including at Capcom, Capcom and Keywords Studios.

TP Group PLC, (AIM: TPG) has lost a third of its value – small consolation for shareholders – after it stated that publication of its full-year results would be delayed.

Audited accounts from the previous year are due by June. TP Group, a safety-focused consulting engineer, has until September to publish its full-year results.

This delay is somewhat odd, as the group stated at the beginning of June that the audit was well advanced. This has led to suspicions that auditors may have discovered something that warrants further investigation.

Actual experience PLC (AIM: ACT) lost more than half its value when a customer terminated a deal.

A channel partner notified the company that one of its major customers, an international energy supplier, would be terminating its contract with Actual Experience.

The original announcement of the contract was made on 23 August 2021. It has a value of approximately £1mln and will be in effect until 18 August 2022. The contract generated around £200,000 in revenues during 2021.

Naked Wines saw its share price drop by half after it stated to the market that it will not pursue growth at all costs.

“Our guidance says that we plan to trade the business at break-even or close to this year. This is our view of the responsible balance we should strike in FY23. We are mindful of the macro-economic uncertainties, but also the opportunities ahead and the potential disruptive models like ours that can gain traction during tough times when consumers make changes to their buying choices,” stated Nick Devlin.

The investors were left with a bitter taste in their mouths after the declaration of intent.

Argos Resources Limited (AIM: ARG), released an update on Licence PL001, Funding and Publication of Results.

Update on Funding Position: Mr Ian Thomson, OBE, Chairman of Argos, has agreed to provide a loan facility of up to £110,000 to the Company.

Drawdown from the Loan Facility can be made at the Company’s request. The Loan Facility is available until 31 January 2023 with no interest accruing on borrowed amounts. If the Company carries out a share issue by way of fund-raising, the lender shall be entitled to convert the loan then outstanding into new shares issued on the same terms as those available to other participants in the issue.

Investors did not like the update with the share price losing over 25% on the news release.


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