London’s AIM All Share ended the quarter – and started the week – on the back foot, in line with other global indices and retreating just over five points to close at 740.43.
- Tower Resources +242%
- Serinus Energy +29%
- Cirata +19%
- Surface Transforms -75%
- RBG Holdings -41%
Tower Resources LON:TRP posted some towering gains on Monday adding 242% in the wake of well received interim results. These were dominated by a farm-out proposal which would fund a critical probe in Cameroon.
Serinus Energy LON:SENX was 29% ahead on the day. The stock has been gaining traction over the last couple of weeks with the share price having almost doubled in value. There’s no news out but some signs of stake building have been reported in recent weeks.
Cirata [LON:CRTA] gets the notable mention, up 19% on the day. The company this morning advised that a contract with the Health Care Services Corporation has been renewed for a further 12 months with a value just short of $1m.
Surface Transforms LON:SCE was the biggest faller, trading 75% lower. Interim results posted this morning saw revenues up 58% but margins slipped, driving losses higher too. Management noted that growth, whilst present, was significantly behind plan and full year revenues are set to come in around £11m, against previous forecasts of £17.5m.
RBG Holdings LON:RBGP was 41% lower following its publication of interims. The company is undergoing a process of cutting peripheral activities from the business but losses continue to mount despite cost reduction initiatives. Management note disruption surrounding the general election as having been a drag on momentum.
