London’s AIM Index has finished the week’s opening session a shade softer, failing to track either the FTSE-100 or leverage that weakness being seen on GBP/USD. By the bell the junior market sat a little over three points lower at 850.01.
- Trafalgar Property +78%
- Quantum Blockchain +34%
- Wentworth Resources +26%
- Fulcrum Utility -43%
- RBG Holdings -23%
Trafalgar Property [LON:TRAF] topped the board on Monday, adding 78% by the bell. The company has a valuation of less than £1m however and today’s move doesn’t seem to have any firm foundation behind it, although has been sufficient to drive the stock to levels not seen in 6 months.
Quantum Blockchain [LON:QBT] was the second biggest riser, up 34%, although gains do need to be considered in light of the 9% spread being quoted. The share had traded down to levels not seen since Summer 2021 so this could be seen as little more than bargain hunting.
A notable mention for Wentworth Resources [LON:WEN], which added 26% on the day. The company has recommended a buyout at 32.5p per share, which management say reflects a material increase to the proposed price which was mooted back in September.
Fulcrum Utility [LON:FCRM] was Monday’s biggest casualty, down 43%. The company announced a financing update this morning with news that a convertible loan note facility for £6m had been put in place. That comes at a hefty 20% interest rate and should the loan convert into equity could leave the sponsor with a majority stake in the business.
RBG Holdings [LON:RBGP] found itself in second to last place on the day, following the release of a trading update. The group flagged a disappointing performance with its litigation financing arm, but despite that is proposing payment of a second interim dividend for the year. Shares were even lower in early trade but closed some 23% offside.
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