Wednesday was another down day for equities essentially globally as fears over stubborn US interest rate mounted. The AIM All Share closed down more than five points at 720.11.
- Mkango Resources +21%
- N4 Pharma +19%
- Minoan +13%
- RBG Holdings -48%
- Synairgen -16%
Mkango [LON:MKA] topped the board although emphasising the downbeat mood, gains here were a comparatively slim 21%. Those gains came off the back of news that the company had signed a letter of intent with Crown Proptech to list two of the company’s rare earths assets on NASDAQ by way of a SPAC merger.
N4 Pharma LON:N4P was in second place, up 19%. The move coincides with the appointment of Alastair Smith as a NED who spearheaded the growth of Avacata. Alastair noted the parallels between N4 and Avacta LON:AVCT.
Minoan LON:MIN gets the notable mention, up 13% on the day. The company announced this morning that it had received notice to convert a £70k loan into equity, a move that has evidently offered investors some confidence in the move.
RBG Holdings LON:RBGP was 48% lower on the day following news that the company had terminated a consultancy agreement. There’s a complex web here – full details in the regulatory filing – but the company needs to refinance this year and there’s also some potential shareholder activism to fend off
Synairgen LON:SNG was in second to last place, down 16%. The proposed open offer closes at the end of the week and this latest move has eroded the entire discount available. Will the offer now be pulled?
