The AIM All-Share Index declined by 1.5% over the week, significantly underperforming the FTSE 100, which fell by only 0.4%. The FTSE 100 closed trading down 0.48%, at 8,245.37, with Fresnillo, Prudential, Intermediate Capital Group, and Antofagasta being the biggest drags on the index.
Over the past five days, the blue-chip index has fallen 0.36%, erasing gains from Wednesday and Thursday, resulting in a 0.15% decline for the week. A sharp drop in oil prices compounded the situation, as a mid-week sell-off drove Brent crude down to $77.64 per barrel, nearing four-month lows, adversely affecting London’s energy-heavy capital markets.
Regtech Open Project PLC (AIM: RTOP) What a week, it was a 1p bid on Monday and now a 7p bid on Friday without saying a word. Last RSN’s CEO resigned last week, bull market, anyone?
Another company on radio silence Eurasia Mining (LON: EUA) broke out this week, Share Talk picked up on the volume and the team had the company on the Twitter (X) radar, what an end to the week, up 174.70% in the past five days.
Mosman Oil and Gas (AIM: MSMN) was a top performer in the energy sector, with shares climbing 60% throughout the week after announcing a significant step toward building a global helium-focused portfolio.
Angola-focused oil and gas company Corcel (LON: CRCL) has received approvals to collect data for the KON 11, KON 12, and KON 16 blocks in Angola, with the survey scheduled for the third quarter. A financial update is expected on 14 June. In London, CRCL shares were up 52.38%, trading at 0.16p each at the time of reporting
Tasty PLC (AIM: TAST), the operator of Dim T and Wildwood restaurants, was one of the biggest movers on the AIM market this week after successfully emerging from a court-sanctioned restructuring plan.
Announced on Tuesday, the plan involves Tasty shedding 20 of its 53 loss-making outlets. According to Tasty, this move is expected to result in a “significant EBITDA improvement” of up to £2.1 million between the financial years 2023 and 2025.
As a result, shares in the streamlined company surged by 64%.
Hostel operator Safestay (LON: SSTY) has acquired a property in Brighton from the University of East Sussex for £2.275 million. The property will be converted into a 220-bed premium hostel, located 600 meters from the seafront, with conversion costs estimated at £1 million. Shore Capital has been appointed as the nominated adviser and broker. Safestay reported full-year revenues up by 18% to £22.5 million, with EBITDA increasing by 15% to £6.8 million. The NAV was 50p per share. The share price is up by 7.5% to 21.5p.
Norway-based First Seagull AS has acquired a 7.88% stake in Aferian (LON: AFRN), leading to a 25% rise in the share price to 4.5p.
Totally PLC (AIM: TLY) shares soared over 30%. There was no immediately obvious catalyst for the rally, though as a frontline healthcare services provider to the NHS, the prospect of a Labour election victory may be infusing optimism into the healthcare services sector.
Physiomics (LON: PYC), a company specializing in mathematical drug modelling, has been awarded a contract by a UK biotech firm to use its virtual tumour technology. The project, valued at £162,000, will span five months and provide information for reactivating former oil and gas fields. The share price rose by 7.69% to 1.4p.
Shares in Jacamo and SimplyBe owner N Brown Group PLC (AIM: BWNG) surged 40% following the release of its final results, which showed a return to profitability. Statutory profit before tax reached £5.3 million, a significant turnaround from the £71.1 million loss the previous year. CEO Steve Johnson noted the company’s adherence to its transformation plans and resilience through a strong balance sheet, achieving adjusted EBITDA above market expectations.
Insig AI (LON: INSG) gained 37% after the data solutions company announced an £813,000 equity round. Though a modest sum, it was raised at just a 2% discount and primarily bought by a new investor, making it a notable event.
Strip Tinning Holdings PLC (AIM: STG), a manufacturer of components for electric vehicles, saw its shares jump 46% to 72p after securing a major high-volume contract from an unnamed US carmaker to produce battery connectors for autonomous vehicles.
FALLERS
Conversely, Inspecs Group plc (LON: SPEC) experienced a notable decline, with shares dropping 12% following a cautious statement about current trading conditions. The group anticipates that revenues and earnings for the first half of the financial year will be lower than the previous year, aligning more closely with historic trading levels.
In the biotech sector, Faron Pharmaceuticals (LON: FARN) saw its shares fall 47% in a technical markdown following the announcement of a €30.7 million (£26 million) financing round. The proceeds will support ongoing work on its key asset, bexmarilimab, while negotiations continue to secure a licensing deal for this promising cancer treatment.
Mohammed Ashraf has been appointed as the new chief executive of Kibo Energy (LON: KIBO), with James Parsons joining the board to oversee a restructuring. The company plans to expand into a broader-based energy entity, incorporating oil and gas sectors, and will review its existing interests. Stefania Barbaglio and Clive Roberts are also joining the board.
The renewable energy company has raised £500,000 at 0.015p per share. Its main assets include 83.2 million shares in MAST Energy Development (LON: MED), a receivable of £849,000 from the same company, 134.4 million shares in Katoro Gold (LON: KAT), and a portfolio of waste-to-energy projects.
The receivable from MAST Energy Developments will be used to reduce debt owed to RiverFort Global Opportunities from £767,000 to £400,000, restructured as a two-year loan with a 10% annual interest rate. The company may also consider dropping its listing on the Johannesburg Stock Exchange. The share price fell 46.7% to 0.016p.
