SMALL CAP MOVERS: AMTE Power information for administration

AMTE Power bit the bullet and filed for administration this week, bringing a seemingly inevitable near the lithium-ion and sodium-ion battery cells producer’s tribulations.

In an announcement, the group mentioned it had appointed FRP Advisory after failing to safe funding from an investor.

“The board has no other options to secure finance in the time available and has therefore concluded that the company has insufficient funds to continue trading,” it learn.

An artist’s rendering of a brand new manufacturing facility AMTE Power had deliberate to construct in Dundee

FRP will handle an accelerated sale course of to hunt potential patrons of the enterprise and belongings and WH Ireland will resign as nominated adviser to the corporate.

Earlier this 12 months, AMTE suffered a serious blow to its market valuation following a vastly discounted keep-the-lights-on fundraise in September.

It had already slumped virtually 50% in July after warning that its financing state of affairs had develop into crucial, with an answer wanted “within days”.

At that time, AMTE warned that shares can be suspended if funding didn’t materialise, with that warning changing into a actuality in the present day.

Investors have been not sure of what to make of banknote printer De La Rue’s half-year outcomes.

De La Rue’s shares initially fell on Tuesday when it reported a widening pre-tax loss hole and a year-on-year fall in working revenue.

Yet this was really forward of expectations, and De La Rue backed its full-year steering of working earnings within the low £20 million vary.

Shares ended up ticking 16% greater come Friday, as buyers digested the combined indicators.

Bidstack Group was the MVP although. The in-game promoting specialist doubled its share worth on Friday after saying the settlement of a authorized dispute with companion Azerion.

Azerion has agreed to pay €3 million to Bidstack with the businesses planning to have a brand new collaboration up and working in 2024.

It seemed to be amicable sufficient, with Bidstack’s James Draper stating: “Bidstack and Azerion will move forward collaboratively following extensive discussions to settle all outstanding disagreements.

Sebastiaan Moesman at Azerion added: “We are happy to announce each the settlement of all previous disagreements and a brand new business alliance between our corporations going ahead.”

‘Tis the season to be jolly after all.

The FTSE AIM-All-Share Index was also in the festive spirit, adding 170 basis points (1.7%) to close the week above 751.

The junior market just managed to edge out the FTSE 100, with the blue-chip index closing 164 basis points higher.

Not even recession fears dampened the mood.

Data released on Friday showed that the UK economy shrank in the third quarter, increasing the danger of a mild recession.

UK gross domestic product was estimated to have fallen by 0.1% between July to September, revised down from a first estimate of no growth, the Office for National Statistics said.

Stocks managed to fend off the scaries though, probably because of the surprisingly large fall in inflation to 3.9% year on year in November, as announced in the middle of the week.

tinyBuild, developer of the popular survival horror game series Hello Neighbor, rallied over 90% after announcing a US$14 million (£11 million) equity round on Thursday. The 5p-per-share offer represented a nearly 100% premium to Wednesday’s closing worth.

In the heavy industries, Angus Energy shares moved upwards by over 21% on Wednesday after the oil and fuel agency introduced a deal to refinance its £20 million price of debt.

End-of-week trades cooled off a bit, however Angus nonetheless managed to shut the week 10% greater.

Petrofac shot up 60% as shorters cashed of their positions after the oil and fuel set up specialist introduced one other large order.

Petrofac has been one of the vital shorted corporations on the London market resulting from its big money owed, a string of revenue warnings and run of bribery scandals.

This week’s announcement of one other US$1.4 billion contract with TenneT suggests, nevertheless, that the temper could be altering.

N4 Pharma plc was a prime mover within the biotech sector, with shares capturing up over 12% after the agency introduced the profitable oral administration of its Nuvec particle with a DNA plasmid.

Lastly, shares in genedrive shot up almost 20% this week after the corporate introduced a number of worldwide orders for its antibiotic induced listening to loss take a look at.

Orders have been obtained from France, Austria, Greece, Saudi Arabia, Turkey and the Netherlands for the MT-RNR1 take a look at, genedrive introduced, following latest business distribution agreements.

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