Stock Market Updates: ROAD, XLM, APQ, GENI – Significant Share Price Movements
In a whirlwind of activity on the London Stock Exchange, several companies have experienced notable shifts in their share prices, leading to both soaring highs and sharp declines.
Roadside Real Estate (LON: ROAD) shares skyrocketed by an impressive 129% to 8p after the company sold a portion of its stake in Cambridge Sleep Sciences to CGV Ventures 1 for a whopping £6m. Despite this lucrative deal, Roadside Real Estate still retains a majority stake of 65% in the company and is contemplating selling off the remainder or potentially demerging to focus on its core property interests.
Digital media company XLMedia (LON: XLM) made headlines with the sale of its European and Canadian gaming assets to Gambling.com for an initial $37.5m, with a potential deferred consideration of $5m. This move could result in a payout to shareholders as the company aims to streamline its operations. The share price of XLMedia surged by 93.8% to 12.5p, valuing the company at £32.5m.
On the flip side, some companies experienced significant declines in their share prices. Live Company Group (LON: LVCG) saw a sharp drop of 61% to 0.8p upon its return from suspension following a refinancing and the sale of a majority interest in StartArt. Creditors are being settled in shares, and a convertible loan provided by the chairman has injected some much-needed cash into the company.
Similarly, metallurgical coal miner Bens Creek (LON: BEN) faced a significant setback as its share price halved to 2p after drawing down $7.5m of its working capital facility provided by shareholder Avani Resources. The company is now grappling with financial challenges and seeking ways to shore up its resources.
In another setback, Hummingbird Resources (LON: HUM) reported the suspension of operations at the Kouroussa gold mine due to a dispute with the main contractor. This has led to a dip of 47.3% in the company’s share price to 5.8p. Despite ongoing negotiations with the primary lender, Hummingbird Resources is facing mounting pressure to resolve the situation and resume production at the mine.
Lastly, supercapacitors manufacturer Cap-XX (LON: CPX) secured £2m from a placing and subscription at 0.1p/share, ensuring the company’s financial stability. However, this move resulted in a 40.5% decline in the share price to 0.116p. With ongoing fundraising efforts through a REX retail offer, Cap-XX is striving to overcome its current challenges and position itself for future growth.
Overall, the stock market landscape is filled with a mix of success stories and setbacks, underscoring the dynamic nature of the business world and the resilience required to navigate turbulent times.
