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SmallCap Round Up: Gresham House, Concurrent Technologies, Sovereign Metals


In a rather muted session, London’s AIM Index has traded essentially sideways reaching the bell less than half a point lower at 750.39.

  • Gresham House +56%
  • Concurrent Technologies +25%
  • Sovereign Metals +24%
  • Dianomi -41%
  • Bonhill -19%

Gresham House LON:GHE topped the board, adding 56% by the bell after it agreed to be acquired by a US investment firm, Searchlight Capital. Investors will receive £11.05 per share, a modest premium to Monday’s closing price.

Concurrent Technologies LON:CNC added 25%. The company issued a post-close trading update this morning, noting record first half revenues and a 60% uptick on the comparative. Global supply chains, whilst still constrained, continue to normalise and the board expect pre-tax profits to be materially ahead of market expectations.

Sovereign Metals [LON:SVML] gets the notable mention having advanced 24% on the day in the wake of an announcement that Rio Tinto LON:RIO is to invest AU$40m in the company and become a 15% shareholder. The investment was made at a 10% premium to the 45 day volume weighted average price, whilst options to purchase a further 5% of the stock at an additional premium have also been granted.

Dianomi LON:DNM was the biggest faller, off 41% by the close. A trading statement published this morning noted the impact of a sharp decline in traffic volumes for publishers, something which impacts Dianomi’s business model. The company is trimming costs and working to expand its distribution network, with expectations of improved cash generation being seen in H2.

Bonhill LON:BONH slipped 19% on the day. There’s no new news out but company directors are wanting to pursue a members’ voluntary liquidation. Volumes were however negligible and the spread was significantly wider than the posted loss.

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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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