London’s AIM Index started the week with another modest gain, although finished well off session highs, up just over one point at 790.59.
- Versarien +43%
- Gfinity +20%
- Drumz +16%
- Itsarm -36%
- Deepverge -19%
Versarien LON:VRS topped the board, adding 43% on the day and moving the share price back to levels not seen since March. There’s no fresh news out and whilst interest was elevated, volumes remained below those seen in recent weeks.
Gfinity LON:GFIN was in second place, adding 20% by the bell. The esports company surged in late trading but again there’s no fresh news in play – yet.
Drumz LON:DRUM gets the notable mention, up 16%. There was a PDMR update with a spouse of a NED moving shares into a SSAS which shows a long term commitment, but with a spread in excess of 7% and trade flow limited, there’s not too much to read into this.
Itsarm LON:ITS was the day’s laggard, off 36% at the bell. The company has failed in its bid to cancel the share listing following pushback from investors so is now seeking High Court support to place the business into compulsory liquidation.
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Deepverge LON:DVRG was the day’s second worst play, off 19% at the bell. In a multi-faceted update this morning, the company advised of further cost cutting measures and the risk that full year accounts wouldn’t be filed in time to prevent the shares being suspended owing to challenges with finding an auditor. On top of this, management are also looking at implementing a new fund raising exercise and/or the sale of one or more business lines. There was some more positive news in terms of a new contract in Ireland which will be worth £2.3m although that is spread across four years.
