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Small Cap Movers: Game over for GAME Digital on main market as it prepares move to AIM

A look back at some of the more interesting stories from the junior market over the past week
Game Over screen
GAME is also looking to make administrative changes so it is better suited to the junior market

Seeing red this week was video game retailer GAME Digital PLC (LON:GMD) as it shares sank 13% to 24p after announcing its intention to list on AIM.

While it is currently listed on the main market, the new listing will be cheaper for the firm, which also said it planned to make “certain minor administrative changes to its articles of association and to its employee share plans” that would make it more suitable for the junior market.

A big mover in the other direction was technology firm VR Education Holdings PLC (LON:VRE), which soared 33% to 13.2p after the commercial release of ENGAGE – its online virtual learning and corporate training platform.

The platform has been designed to overcome some of the limitations of online courses by allowing for virtual face-to-face education and training in a variety of environments regardless of the geographical location of the user.

Another double-digit riser was WANdisco PLC (LON:WAND), which surged 20% after bagging a contract with a major US health insurer.

The agreement is valued at roughly US$3mln and will see the client deploy WANdisco Fusion, its patented Big Data and Cloud product.

At the other end of the scale with a 61% plunge to 7p was antennas and telecoms filters maker Filtronic PLC (LON:FTC).

The firm’s shares suffered after one of its major customers said it won’t be buying anywhere near as many Massive MIMO antennas as it first thought.

Following behind was gas heating maintenance firm Bilby PLC (LON:BILB) with a 19% drop to 73p after it issued a profit warning.

Bilby said the decision to cease servicing Ministry of Defence properties, a delay in a gas installation programme and the review of certain activities within its three service divisions would affect this year's financial performance.

Meanwhile, Clear Leisure PLC (LON:CLP) jumped 10% to 0.62p after it reached an out of court settlement for £1.15mln with Fortune Cookie, a subsidiary of media giant WPP.

The investment firm filed the claim back with the High Court back in May, claiming that Fortune Cookie and its founder Justin Cooke had breached a share purchase agreement.

The AIM All-Share barely moved during the week, nudging 0.12% to 884 while the FTSE 100 rose 1.5% to 6,824.

Mobile payments specialist Bango PLC (LON:BGO) was on the up, surging 20% to 93p after launching its Bango marketplace product on Tuesday.

The new product increases user numbers and revenues for app developers and opens new revenue streams for mobile operators.

Elsewhere, shares in online retailer MySale Group PLC (LON:MYSL) lost nearly half their value, falling 45% to 19p after a profit warning for the full year caught investors off guard.

The firm said it now expects revenue and profits for the year to the end of June to be “significantly below market expectations”, with challenges arising from greater than anticipated market disruption due to changes to general sales tax (GST) regulations in Australia, its largest market.

There was a similar story for DP Poland PLC (LON:DPP), which dropped 45% to 13p after saying it was approaching 2019 with “caution” following a softer fourth quarter for like-for-like sales growth.

The company, which operates the Domino’s Pizza franchise in Poland, said warm and dry weather into November, as well as sustained advertising spend by competing delivery aggregators, had impacted the group’s share of voice and sales performance.

Among the miners, shares in MC Mining Limited (LON:MCM) surged 17% to 44.5p after it was granted a mining right on Tuesday.

The South African Department of Mineral Resources granted a mining right for MC’s 74% owned Chapudi coking and thermal coal project, which forms part of the longer-term Greater Soutpansberg project in the Soutpansberg coalfield.

Meanwhile, Firestone Diamonds PLC (LON:FDI) jumped 14% to 3.7p after it unearthed a 46-carat white diamond from its Liqhobong Mine in Lesotho on Friday.

The stone was recovered undamaged and will go on sale at the end of January 2019, the company said in a statement.


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