Ten Lifestyle was one of the latest coronavirus victims this week after it warned on Friday its full-year revenue growth would come below expectations.
The travel technology group slumped 23 per cent to 76p despite reassuring investors that its sales come from service delivery and not hard-hit ticket bookings.
It did, however, say there had been disruption in the Asia-Pacific region in the last two months, while near-term marketing spend and client launches are expected to get weaker.
Ten Lifestyle was one of the latest coronavirus victims this week despite reassuring investors that its sales come from service delivery and not hard-hit ticket bookings
Despite the travel sector malaise, Easyhotel managed to advance 23 per cent to 83p after Citrus Holdco agreed to provide £11million by acquiring shares at 95p each, a 35 per cent premium on the previous closing price.
Citrus is partly owned by ICAMAP Investments, the budget hotel chain’s majority shareholder with 52 per cent stake.
The proceeds will be used to fund the group’s roll-out strategy, including a 230-bedroom hotel in Madrid, Spain.
Turning to the wider market, the small-caps seemed to stabilise following last week’s coronavirus bloodbath, with the AIM All-share broadly flat at 853, outperforming the FTSE 100, which was down 1 per cent to 6,742.
Angus Energy rocketed 34 per cent to 0.9p after an independent study estimated its Saltfleetby onshore field held 16 billion cubic feet of gas.
Shares in fellow energy firm Solo Oil advanced 9 per cent to 1p on relisting. This followed that collapse of a reverse takeover deal with ONE-Dyas Gas.
Solo said it has enough cash to meet its commitments in Tanzania but has now set up a data room for anyone interested in acquiring its 25 per cent stake in the Ruvuma production area.
In the mining sector, Condor Gold jumped 25 per cent to 33p after it showcased the potential of a 1,000 tonnes per day facility at the La India project in Nicaragua.
Also on the up was cancer detection firm Oncimmune, which leaped 24 per cent to 79p after its lung cancer detection kit went on sale in the US, the world’s largest healthcare market.
Elsewhere, Haydale Graphene rose 16 per cent to 1p after South Korean firm iCraft said it had incorporated its nano-platelets into a cosmetic face mask.
In the chemicals industry, Itaconix gained 10 per cent to 1p after inking a deal with an unnamed company, which wants to assess the potential of the firm’s BIO*Asterix technology in biodegradable packaging.
Despite the travel sector malaise, Easyhotel managed to advance 23 per cent to 83p after Citrus Holdco agreed to provide £11million by acquiring shares at 95p each
Urban Exposure shot up 17 per cent to 68p after confirming it is in ‘exclusive’ discussions with Pollen Street Capital to offload its loan book.
If it goes ahead, the existing executive team will buy its asset management business, then the finance provider to property developers will de-list from AIM and return 73p per share to its shareholders.
It was a different story for e-commerce solutions provider Proactis, which crashed 34 per cent to 31p after it said it was no longer up for sale, ending an eight-month search for a buyer.
Back to coronavirus issues, live events agency Aeorema Communications slumped 28 per cent to 21p with the outbreak disrupting its schedule, prompting a profit warning.
Power company Rurelec tanked 25 per cent to 0.4p after it said it was not sure when it will recover $21million in loan notes owed to it by Patagonia Energy, which operates electricity projects in Argentina.
Finally, e-commerce solutions provider Attraqt slid 19 per cent to 32p after its full-year loss before tax widened by 38 per cent to £4million due to higher staff, research and development costs.
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