UK investors have not yet been able to emulate the Gamestop / Reddit brigade’s victories on the stock market. However, there was a victory of sorts for the small private investor shareholders of Remote Monitored Systems (RMS) as they managed to vote down the issue of warrants associated with the recent fundraise. Having taken the anti-viral face mask company to their hearts, they seemed to be determined to vote with their shares whatever the consequences. On this basis, and with the shooting down of the warrants, most shareholders are likely to be as happy as Larry. Presumably, the company’s stated wish to improve its shareholder relations refers to those on the register who will no longer being entitled to warrants. Shares of Remote Monitored Systems rose 8%.
Perhaps just as happy to end the week will have been shareholders of COVID-19 diagnostic group, Genedrive (GDR). Here the intraday reversal for the stock after a low of 130p was impressive, with a close at 148p, nearly 3% up on the day. Intriguingly enough, there seemed to an almost festival atmosphere amongst the Genedrive “barmy army” on social media, with their belief in the recent RNS from the company regarding a “commercial introduction of the Genedrive kit from mid February” which officially starts from next week.
After being one of last year’s best performing stocks, it would appear that tech investor All Active Asset Capital* (AAA), seems quite keen on attempting to repeat the feat for 2021. The stock seems to have begun its latest rally off the back of last week’s board appointment of a TMT overachiever. This came in the form of Colin McQuade as a Non-Executive Director, someone with over two decades of experience working for global blue-chip companies such as BGL Group, Barclays International, Sky Group, AOL, Orange Group and Yahoo! Europe. Noticeable as far as the price action to end the week at AAA have been chunky multi-million share orders, with the stock finishing up 15%.
Another tech play in the limelight has been Pires International (PIRI). Here the shares rose 18% to 16p, after the company said that it has acquired 1.5 million shares in Sure Ventures plc from existing shareholders of SV plc at a price of 130 pence per SV plc share, representing a 30% premium to the closing mid-market price of SV plc shares on 11 February 2021. The total consideration of £1.95 million, will be satisfied through the issue of 14,391,144 new ordinary shares in the company at a price of 13.55p per share. The Purchase will provide the Company with a 28% shareholding in SV plc. The solid close for Pires well above the share issue price is clearly a thumbs up on the deal from the stock market.
After a period of respectful silence, it was the time for Xtract Resources (XTR) to update the market in a material sense. Here it said that Hole BRDD-21-003, the third hole of the planned drilling programme, is currently at a depth of 310m, having entered the perimeter zone of the porphyry system at 290m. It also added that there were the first signs of mineralisation as predicted. Xtract shares climbed 6%.
“Seller Out” is always a decent headline for a stock – especially one which has been trading near the bottom of the range. That said, in the current climate it seems strange that sellers would want to get out. Nevertheless, there was a decent rebound in Sabien Technology (SNT) as the merits of the announcement earlier this month that the former Chairman of the company was buying in at 0.1075p to the tune of £450,000. This compared to near double this number by the end of the session.
Disclaimer:
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
*The author owns shares in All Active Asset Capital.
