AIM Movers: Siemens Sells Sondrel Stake and Cap-XX Gets Grant
Good news for Cap-XX, which will receive a net A$1m R&D development grant from the Australian Taxation Office. The supercapacitors developer has signed a joint venture agreement with Ionic Industries for the exclusive commercialisation of the latter’s graphene oxide technology. This will help to increase electrode density in supercapacitors. Purchases are anticipated from new distributors and more distributors are being signed up. The share price improved 12% to 1.4p.
Chaarat Gold has reached a deal with the Kyrgyz Republic government regarding the Tulkubash and Kyzltash projects. The government is confirming its commitment to help Chaarat develop the projects. They will promote international investment. The share price rose 10.7% to 7.25p.
T42 IoT Tracking Solutions is collaborating with Sateliot IOT Services on satellite-based maritime tracking. Clients will be connected to the Sateliot satellites to improve coverage in the oceans. The share price increased 8.33% to 3.25p.
Mind Gym shares recovered 5.19% to 40.5p following the interims. A trading statement had already warned that revenues would be much lower than anticipated and the share price took a large hit. Clients are delaying hires and related spending. The interim revenues fell from £26.8m to £20.9m and the human resources training and education company fell into loss. Annualised costs have been cut by £8m, with £3m showing through in the second half. A full year pre-tax loss of £2.5m is forecast and Mind Gym may have a small net debt position at the year end in March 2024. The company should return to profit next year as revenues recover and the cost savings kick-in.
Siemens has sold its entire 11.2% stake in Sondrel (LON: SND) for £589,000. The placing price was 6p and the share price slumped 46.4% to 7.1p. The semiconductors designer raised £17.5m at 55p/share when it joined AIM in October 2022. Project delays have hit revenues. Siemens previously had a share purchase agreement with the company and the chief executive but that was terminated. Siemens was granted the status of preferred supplier of electronic design automation software for a 36-month period at the time of the flotation.
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