The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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SRT Marine Systems PLC, up 25% at 45 pence, 12-month range 17p-46p. Wins new contract worth $213 million to deliver an integrated SRT maritime surveillance system for an unnamed ‘sovereign government ministry’. Says it has received formal contract award notification, and expects to complete the formal contract and associated performance bond before the end of November. Implementation should start ‘immediately thereafter’. SRT will provide the client’s national coast guard with a ‘a new state-of-the-art’ system integrating ‘numerous’ fixed and mobile command centres across the country. Deal includes turn-key delivery of the system within two years, plus a ten-year support and maintenance package. Chief Executive Officer Simon Tucker says SRT anticipates ‘further projects as this ambitious customer grows their capabilities in the future’.
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DigitalBox PLC, up 21% at 4.25 pence, 12-month range 3.25p-4.25p. Chief Financial Officer & Company Secretary David Joseph resigns from all positions and from DigitalBox’s board, after five years at the company. Says he is subject to a six-month notice period and will stay in post until the firm appoints his replacement, with the search commencing effective immediately. DigitalBox previously on Friday announced a strategic review to consider various options, which may include selling the firm, following a representation from a key shareholder and in light of extensive changes in the current digital media landscape. Joseph says company ‘is well run and has an exciting future’.
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AIM - LOSERS
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Blue Star Capital PLC, down 14% at 0.015p, 12-month range 0.015p-0.12p. Says SatoshiPay Ltd, in which it holds a 27.9% stake, is currently working to secure funding for its de-fi project Vortex, which ‘offers a fluid user experience across different blockchain ecosystems’ by enabling ‘ultra-low’ cost currency conversions and bank transfers. Blue Star believes SatoshiPay’s value will ‘significantly improve’ if fundraise and launch are successful, and says current interest ‘appears strong’. Has therefore suspended sales process for SatoshiPay ‘until Vortex is launched and the value to SatoshiPay can be more clearly demonstrated to, and better understood by, investors’. Among its other portfolio companies, Dynasty Gaming & Media Pte Ltd is consolidating its three platforms into one letsplaylive brand and will change name to Letsplaylive Media Pte Ltd; Paida Esports Inc expects to become cash flow positive by February thanks to ‘significant interest’; and Sthaler Ltd is ‘making good progress’ in search for a ‘major’ source of sustainable recurring revenue.
Looking ahead, Blue Star says it ‘remains encouraged’ by Vortex’s prospects. However its future viability ‘is inextricably aligned with SatoshiPay with approximately 90% of the last announced [net asset value] based on SatoshiPay’s carrying value’. Warns that if SatoshiPay fails to complete delivery of Vortex, the carrying value of its stake ‘would be significantly reduced’ and its NAV per share impacted accordingly. Says board needs ‘further time’ and ‘greater certainty regarding SatoshiPay’s value’ before any decisions on Blue Star’s future.
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