AIM news

AIM advanced 19.75 points to 972.2 over the course of the month as many constituents reassured investors with trading updates, depressed shares rebounded and investors witnessed continued corporate activity.

Titan Europe, the manufacturer of undercarriages and wheels for agricultural and mining vehicles, received an eight-for-one shares offer from the US parent that floated the business back in 2004, news which sent its shares motoring 83 per cent higher to 202p.

Watchers of surveillance solutions counter Petards were piqued by revelations that it is talking to a number of suitors. The shares rose by 57 per cent to 0.44p, before they settled at 0.36p. European online casino and sports betting group Gaming VC gathered up 44 per cent to 232p, after it revealed it had received a preliminary approach from an as-yet unnamed party.

Elsewhere, independent financial advisers Sumus and Lighthouse have received authorisation from the regulators that their merger, first mooted in March, can go ahead. Sumus’s shares fell 2p to 40p on the day, while Lighthouse’s gained a quarter of a penny at 21.5p.

ReneSola was the biggest AIM riser of the month, soaring from 280p to 440p after the Chinese recycler of silicon for the solar energy industry hoisted its projected production ‘guidance’ from 300 to 320 megawatts, which should lift its net revenues to above $530 million. The company also notified investors of two six-year deals.