Despite a positive start to the day’s trade, gains on the AIM All Share were short lived with the index finishing down almost two points at 766.05.
- Plant Health Care +51%
- Gelion +50%
- ADM Energy +29%
- Petro Matad -40%
- Capital Metals -35%
Plant Health Care LON:PHC was topping the board, up 51%. News broke this afternoon that the management were recommending a 9p per share bid for the company, reflecting a 57% premium to last night’s closing price.
Battery innovator Gelion LON:GELN surged 50% on the day following news of a development agreement with Glencore LON:GLEN. The deal comes with the potential of future commercial developments too.
ADM Energy LON:ADME gets the notable mention, up 29% after announcing a financial restructuring. This does reverse losses from the last three months.
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Petro Matad [LON:MATD] was the biggest faller, off 40%. That’s in reaction to a capital raising round that was launched last night although the fact shares are trading 15% above the offer price of the new round is something to note. Funds will be used to further assorted projects.
Capital Metals LON:CMET was off 35% at the bell. The company issued a project funding update towards the end of the day after a partner announced it was pausing plans to acquire 50% of the Eastern Minerals project in Sri Lanka. Management note that the delay is a result of internal issues with the partner and that the company is capable of developing the project on its own.
