Rosslyn Data Technologies PLC (AIM:RDT) soared to the top of the AIM movers list this week after declaring a contract win with “with one of the world's largest technology companies”.
Who this customer is, we’re not privy to right now, save for the fact that it’s “one of the top-10 Fortune 500 companies that engages in various cloud-computing and e-commerce services. Hmm…
What we do know is the three-year contract is worth around £2 million in revenue, for which Rosslyn will provide its third-party cloud-based enterprise spend intelligence platform to the mystery client’s procurement division.
The value of the contract exceeded Rosslyn’s market capitalisation by around 20% at the start of the week; no wonder shares show up 50% by Friday.
AIM outperforms
Markets were generally bullish, with the AIM All-Share Index adding half a percentage point to enter Friday afternoon at 776.5, while the FTSE 100 remained flat at 8,315.
Monday proved the strongest day for the blue-chip index, in part due to a bullish start on Wall Street, though a Tuesday slump followed, with BT Group PLC (LSE:BT.A) proving a drag after Sky, a major wholesale customer on BT’s Openreach broadband network, signed a deal with rival CityFibre.
More risers and fallers
MOH Nippon plc spiked 89% following a reverse merger into Bowen Fintech PLC (LSE:BWN) that saw the services provider for real estate investment in Japan enter the main market of the London Stock Exchange on Monday.
Aamir Quraishi, non-executive chairman of MOH, said: "As a special purpose acquisition company, we were delighted to succeed during the year in identifying, in MOH, an excellent target for acquisition and to enter an agreement where the offer price represented a 25% premium to our prevailing share price.
“We are also particularly proud to have become the first company with its business and operations in Japan to list equity on the Main Market of the London Stock Exchange in over 20 years.
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) leapt 26% to a year’s high as it revealed bumper earnings for the half year to end June and a near wiping out of its debt.
The Nigeria-focused gold miner reported interim net profits of US$39.9 million, up 129%, adding debt for the group was now down to just US$2.7 million net.
i3 Energy plc added 32% after confirming that it has received and recommended a firm offer from Canada's Gran Tierra Energy Inc (TSX:GTE, LSE:GTE, NYSE-A:GTE, ETR:G1P).
In total, the offer price is the equivalent of 13.92p, valuing i3 at roughly £174 million, a premium of around 49% to the end of last week.
Minnow Uru Metals Limited soared 300% after announcing that the Zeb Nickel (TSX-V:ZBNI, OTC:ZBNIF) Project received authorisation from the South African Department of Minerals and Petroleum Resources.
Watkin Jones PLC (AIM:WJG) was one of the week’s biggest fallers when in a Wednesday trading update, the group said it had a number of schemes being actively marketed.
The residential and student accommodation group blamed a slow pace of recovery and high interest rates for a paucity of dealmaking in its 2024 financial year.
“Nevertheless, overall market activity through the summer has been slower than anticipated, principally due to the continued uncertainty over the pace of interest rate cuts, and as such we believe it is now unlikely that we will close any further transactions before the financial year end.” Shares fell 39%.
Ebiquity slumped 29% after the media investment analysis provider published its first-half trading update.
Ebiquity expects revenues to have declined by 7% to £37.9 million primarily due to some large clients continuing to reduce budgets.
ZOO Digital Group Plc (AIM:ZOO) closed 21% lower after acknowledging an “extremely challenging year for the film and television entertainment industry and all those businesses that operate in this wider ecosystem”.
ZOO’s revenue fell by 55% to $40.6 million in the year ending 31 March.