It’s looking quiet on the corporate filings calendar this morning but the banking sector is a notable outlier, with losses being posted across the board. NatWest is the worst performer, but peers including Lloyds, Barclays and Metro Bank are also under pressure. With speculation swirling that the sector could be the next possible target in the budget as Labour attempts to balance the books, investors are already looking for the exits. The Nat West share price was down 4% in early trade.
The AIM-listed helium exploration company updated the market this morning on a corporate action, noting the conversion of a tranche of a loan into equity. This has been done at a 10.6% discount to last night’s closing price, but clearly indicates conviction amongst the owners of the debt. The Helium One share price was however almost 13% lower in early trade.
The AI digital workforce platform issued a note last night announcing a funding round with a strategic investor. £2.8m has been invested using pre-paid warrants which are convertible with a meaningful discount. Successful completion of this round will pave the way for further funding to be sought, with additional changes to the treasury function also tabled. Cykel was an early adopter of the BTC treasury function, but will now switch to invest the majority of its cash in Solana and stablecoins. The Cykel AI share price was 25% lower shortly after the open.
Most read news on Investegate this morning
Amendments to Convertible Bond + equity fundraise - - Avacta Group (AVCT)
Frasers Group announces Board changes - - Frasers Group (FRAS)
Audited Financial Results For Year End 28 Feb 2025 - - Andrada Mining Limited NPV (ATM)
