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Small cap movers: Catenae Innovation rockets with COVID-19 digital passport and anti-fraud document wallet

A look back at some of the more interesting stories from London's AIM market this week

Man with mask
Catenae Innovation announced that its ‘COVID-19 passport’ app is now ready to be rolled out across the UK and globally

Catenae Innovation PLC (LON:CTEA) had a busy week with a triple dose of good news, sending the shares up 154% to 7p.

The digital media firm announced that its ‘COVID-19 passport’ app is now ready to be rolled out across the UK and globally. The Cov-ID records whether individuals are unexposed, active or recovered from the virus by uploading results of swab and antibody tests. Sharing the data will allow individuals to freely roam in public locations, such as workplaces.

Catenae, which completed the app well ahead of schedule, is already in discussions with potential customers.  Still, the firm didn’t leave behind its pre-pandemic projects and also unveiled its 'Onsite ID', a new multi-document digital wallet. The system allows potential employers to access IDs and qualifications to avoid fraud, that can often happen with paper-based processes.

These two products will be trialled in Botswana following a new agreement inked with tech player Afrik-ID, also announced this week.

Staying in Africa, Fastjet PLC (LON:FJET) descended 26% to 0.1p after admitting it only has cash to survive until the end of August. The low-cost airline has had all but repatriation flights grounded until the end of July, but didn’t specify what restrictions will be lifted by the South African and Zimbabwean governments thereafter.

Looking at the wider market, the AIM All-Share index and the FTSE 100 both rose 1% over the past week, to 894 and 6,213 respectively.

Among the risers, Haydale Graphene Industries PLC (LON:HAYD) rocketed 68% higher to 3p on a new collaboration with IRPC to develop graphene-based fabric for medical use, including face masks.

Data insight provider TrakM8 Holdings PLC (LON:TRAK) soared 57% to 21p after confirming a delayed contract to optimise home deliveries for a major UK food retailer.

Meanwhile, Sound Energy PLC (LON:SOU) climbed 55% higher to 2p after entering an initial agreement with a Moroccan energy group, which could purchase liquefied natural gas and partially finance the Phase 1 development of the junior oiler’s TE-5 Horst development.

Fellow oiler Nostra Terra Oil and Gas Company plc (LON:NTOG) jumped 16% to 0.3p after reassuring investors it can weather the oil crisis, having secured fuel hedges of US$55.15-57.15 per barrel for half of its production until December.

Cello Health PLC (LON:CLL) surged 40% higher to 162p after a takeover offer from private equity firm Arsenal Capital Partners, valuing the health advisory firm at £178.8mln or 161p per share, a 44% premium to the previous closing price.

IT service provider Cloudcoco Group PLC (LON:CLCO) jumped 34% to 0.9p after forecasting higher demand as organisations seek to adapt to the 'new normal', with an increasing need for communication systems.

In the mining sector, IronRidge Resources Ltd (LON:IRR) advanced 22% to 12p after defining a drill-ready target at the Zaranou gold license in Côte d'Ivoire, as well as expanding its drilling programme over the Ehuasso and Ebilassokro targets.

Rare earth peer Cadence Minerals PLC (LON:KDNC) advanced 8% to 9p after its partner Hastings was deemed eligible to receive AU$75mln under the Finnish Export Credit Scheme.

Elsewhere, clean technology firm Verditek PLC (LON:VDTK) shot up 19% to 9p on the back of several orders in new geographical areas and sectors, including the marine market in Thailand and UK agriculture.

Among the fallers, Mosman Oil and Gas tanked 31% to 0.08p after raising £400,000 by placing shares at a 43% discount to fund drilling of the Falcon well at the Champion Project in Texas.

Temporary seating specialist Arena Events Group PLC (LON:ARE) tumbled 27% to 5p after admitting that revenue losses up to December, expected to be over £110mln, are barely offset by the £24mln made in April and May with contracts for temporary hospitals and drive through test centres.

Finally, Congo-based miner Zanaga Iron Ore slipped 12% to 5p after announcing its cash balance halved to US$400,000 in the five months to May, though it said it has enough funds to carry on for a year.

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