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SmallCap Round Up: Star Phoenix, MyHealthChecked, Kibo Energy


London’s AIM Index appears on course for a positive finish for the first time this week, although the market is well off mid session highs. With just a few minutes to the bell, the index sat up less than one point at 809.88

  • Star Phoenix +27%
  • MyHealthChecked +20%
  • Kibo Energy +15%
  • Mirada -61%
  • Fusion Antibodies -16%

Heading into the close and oilfield services company Star Phoenix [LON:STA] was the day’s biggest riser, adding 27% by the bell. However this is a relative minnow, dealflow was incredibly light and the spread was being quoted at in excess of 11%, consuming much of the upside.

MyHealthChecked [LON:MHC] advanced 20% on the day in the wake of news that it would launch an extended range of test at home products via Boots. A total of 20 different kits will be launched, including six which operate on a lateral flow basis, with management noting this marks a turning point when it comes to consumer demand for at-home testing.

Kibo Energy [LON:KIBO] advanced 15% on the day, having published a pair of updates this morning. One highlighted the fact that a wholly owned UK subsidiary had concluded heads of terms with an investor consortium, which includes the reprofiling of existing loans and a significant cash injection into the business.

Mirada [LON:MIRA] was the worst performer on the day, falling some 61% off the back of news that the company plans to delist from AIM and move over to the JP Jenkins platform. Given the significant holdings of a single shareholder here, the motion will be passed. A trading update included with the note showed revenues and EBITDA posting modest year on year declines, but debts exceeded the $10m mark.

Fusion Antibodies [LON:FAB] slipped 16%, although volumes were far from remarkable and order flow was lumpy. There’s no formal news out although in recent years a trading update has been supplied in early May.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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