Bigblu (AIM:BBB) Broadband PLC dropped 7.7% to 48p despite saying it continued to trade in line with expectations and is well positioned for the second half of the year.
Total revenue for the six months to end-May grew 13.8% to £14.9mln, while adjusted EBITDA climbed 1.4% to £2.0mln, the broadband services provider said in a trading update.
The company had around 60,400 total customers at the end of May, up from about 58,300 in the year-earlier period.
“We are pleased with the continued progress shown by the group in the period and the efforts we have made to improve our offering in the Nordic region provides us with optimism that this region can return to growth,” said chief executive Andrew Walwyn.
The company said growth in Australia remained strong and that there had been encouraging early progress in New Zealand.
1.59pm: Omega climbs as it confirms its favourite CD4 business bidder
Omega Diagnostics Group PLC (AIM:ODX) rose 7.4% to 3.3p after it decided on a preferred bidder to acquire its CD4 business, following an announcement nearly two months ago that it was up for sale.
The medical diagnostics company focused on health and nutrition products said it signed a Head of Terms with the preferred bidder on 2 July.
CD4 is the part of the business that manufactures and supplies tests of VISITECT CD4, which measures the amount of CD4 protein in human cells.
According to a statement, the preferred bidder now has four weeks to complete its due diligence, with the transaction expected to be completed shortly after.
Upon completion, Omega will receive a “significant up-front cash payment” as well as a future royalty stream linked to VISITECT CD4 sales.
12.30pm: AO World plummets on credit insurance support withdrawal
AO World PLC (LSE:AO.) sunk 16% on Monday afternoon as investors got spooked by a weekend report that one of its credit insurers might be withdrawing support.
The Sunday Times suggested one of its suppliers might be cutting back on cover, which would force the white goods retailer to pay upfront for stock, raising concern about cash flow.
Shares fell 10.6p to 57.4p, valuing the business at £281mln.
AO sells home essentials including fridges, ovens and washing machines.
During the pandemic, AO boomed as lockdowns hit competitors such as Currys PLC (LSE:CURY) and its share price rocketed.
But its value has crashed by over 85% from the all-time high seen in January 2021, when lockdowns and online spending were still rampant.
11.05am: Nanosynth soars amid successful start to Volz partnership
Nanosynth Group PLC (AIM:NNN) surged 56% to 0.35p following the early success of its Volz partnership established last month.
Nanosynth has been going through its turnaround strategy, with a move away from face masks to many other products within the heating, ventilation, and cooling market.
In partnership with Volz, trials have been run to help both companies develop a standard retrofit to media production lines so that installation and execution can become streamlined.
The company successfully proved the technology and reported "exciting" results on the media tested at Volz.
A fifth trial production run is scheduled in the coming weeks and Nanosynth confirmed it is now confident to apply for a UK Registration, Evaluation, Authorisation and Restriction of Chemicals application with the UK Health & Safety Executive.