Oxonica surges onto AIM

The market shrugged off the failed attack and, during a sluggish week, the FTSE 100 picked up just two points to 5234.4. AIM fared slightly better, rising 7.1 points to 1036.2.

AIM’s first pure nanotech concern, Oxonica (OXN), joined the market on Wednesday after £7.1 million net was secured in a placing with existing investors and customers at 95.8p. Strong demand for what little stock was available saw the shares double to 195p.

Oxonica develops structures at a microscopic level and already has contracts for its innovative applications with two FTSE 100 concerns: a sunscreen additive used by Boots and a diesel fuel catalyst that bus company Stagecoach has introduced across its fleet.

Another innovative concern, XL TechGroup (XLT), which creates new ventures out of technology, unveiled a strategic relationship with major consumer goods producer Proctor & Gamble to tap into the latter’s database of ideas to ‘address unmet market needs’. The shares advanced 4.5p to 372p over the week.

There was disappointment for Offshore Hydrocarbon Mapping (OHM). Shares in the group, whose technology helps locate offshore oil and gas deposits, fell by a third to 145p after receiving an unfavourable decision from the UK Patent Office.

Rival Statoil had commenced proceedings about a patent licensed by the University of Southampton to OHM. An award in favour of Statoil has been made, against which OHM might appeal.

Planit pulled back

Developer of computer-aided design and manufacturing software Planit (PLN) released final results on Monday that showed a 27.1 per cent rise in pre-tax profits to £1.97 million, despite the adverse effect of the weak dollar, which has since strengthened. The group is also currently considering possible acquisitions but neither factor prevented the shares falling 12 per cent to 23.75p.

Fellow software concern DAT Group (DA.) dropped 45 per cent to 171.5p after the mobile phone specialist warned that revenues for the current year to December are ‘likely to fall short of market expectations’. A loss is now expected and steps are being taken ‘to refocus the sales strategy’.

Blavod shows spirit

Shares in vodka, rum and gin producer Blavod Extreme Spirits (BES) shot up 31.9 per cent to 23.75p after an enthusiastic AGM statement from chairman Colin Campbell, informing that first quarter like-for-like sales in the current fiscal year have shown significant increases in both the UK and US. Margins continue to improve and a further series of US retailers are to stock Blavod's products.

ContentFilm (CFL) saw its shares jump by two thirds to 3.12p after confirming that the acquisition of the Fireworks Film Library had cost £2.7 million less than envisaged. The final price was £12.3 million ($21.5 million). Preliminary results for the year to March are due next week.

And finally, on Friday afternoon, fashion retailer Monsoon (MSN) advised that its chairman Peter Simon was contemplating buying up the 24.6 per cent of the company that he doesn’t already own. The shares rose 7.6 per cent to 387.5p on the day.