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AIM round-up: Invinity Energy, Blackbird, Seed Innovations


Softer than expected inflation data from across the Atlantic is spurring hopes of a more tempered outcome from tomorrow’s FOMC meeting and that’s played out in the form of some pre-Christmas cheer for the AIM Index. At 4.30pm the junior market was up by almost seven points at 837.26

  • Invinity Energy +23%
  • Blackbird +17%
  • Seed Innovations +15%
  • Morses Club -45%
  • Midatech Pharma -40%

Invinity Energy [LON:IES] topped the board although gains were limited to a rather modest 23%. The company this morning announced the sale of a 1.5MWh battery system to a Korean customer. Critically an advance payment for the kit is due in 2022 with delivery towards the end of H1 ’23.

Blackbird [LON:BIRD] advanced 17% following a busy day for the stock. A pre-market announcement confirmed the name of a global media partner – EVS – which had been trailed back in September in a contract worth EUR2m over 5 years. That was followed by news of an investor presentation which has been scheduled for tomorrow morning.

Seed Innovations [LON:SEED], the portfolio company with a focus on medical cannabis, health and wellness issued interim results after the bell on Monday night and gets Tuesday’s notable mention. These received a warm reception in Tuesday’s trade as despite a 20% write down in asset valuations, the NAV is still well above the share price. The gain of 15% however needs to be taken in the context of a 12.5% spread quoted at the close in a day of thin trading for the £5m stock.

Morses Club [LON:MCL] was the biggest faller, dropping by 40% during the day. News of a scheme of arrangement in order to try and protect creditors was published this morning, effectively declaring there’s nothing left for shareholders and with the directors hoping the regulator looks kindly on the proposals.

Midatech Pharma [LON:MTPH] was the day’s second biggest faller, off 40% at the bell. This afternoon the company announced plans to acquire Bioasis Technology, along with a US$10m equity raise. Whilst there are synergies to be had from the deal, the sell-off appears to be reflective of the discounted capital raise, rather than push back on the deal itself.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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