The Wellnex Life Pain Away sale to Rohto Pharmaceutical’s subsidiary Mentholatum Australasia Pty Ltd will raise up to A$21.3m, sending WNX shares up 69.2% to 5.5p on the week.
The deal, which covers business rights and intellectual property rather than shares, pays an initial A$19.8m in cash on completion. A further A$1.5m is contingent on Pain Away hitting earnings targets in the 12 months after the transaction closes, according to Yahoo Finance.
Wellnex Life Pain Away Sale to Clear Entire Debt Pile
The proceeds will retire Wellnex Life’s entire debt of approximately A$10.2m, leaving the company debt-free. That total includes loans from former directors that were due for repayment at the end of August 2026 but have been deferred until completion at no additional cost.
The disposal follows unsolicited approaches for the Pain Away brand from separate parties in February 2026, alongside a proposal to fund its international expansion through convertible notes. Wellnex Life’s board opted instead to sell.
Pain Away reported revenues of A$13.4m and EBITDA of A$4.36m in 2024-25, with gross assets of A$22.76m on unaudited figures at the end of last year. The rest of the Wellnex Life business was loss-making. Rohto, listed on the Tokyo Stock Exchange, will add Pain Away to a portfolio that already includes the Deep Heat brand via Mentholatum.
Shareholder approval is required under AIM Rule 15, given the scale of the asset relative to the company. A vote is scheduled for 8 September. Wellnex Life raised £5.22m at 31.75p per share when it joined AIM on 21 March 2025.
Devolver Digital AIM Exit Confirmed After 90% Vote in Favour
Austin, Texas-based video games developer Devolver Digital (LON: DEVO) plans to cancel its AIM quotation on 16 September 2026, with 15 September the last day of dealings. Shareholders approved the cancellation with 90% of votes cast in favour, according to TipRanks.
The company’s directors hold 128.4 million shares, representing 25.91% of issued share capital, and voted in favour. The tender offer, priced at 16p per share (the closing price on 5 August 2026), covered up to 23,320,896 shares, or approximately 4.71% of the share capital, and was oversubscribed. A further tender offer of up to $5m is planned 12 months after cancellation.
Devolver Digital joined AIM in November 2021 at 157p per share. The board cited poor liquidity and a share price it believes fails to reflect the company’s progress as reasons to delist. Annual cost savings of $1.6m are expected from the cancellation. The share price slumped 56.3% to 7p on the week.
Following the delisting, independent non-executive directors and key board committees will step down. The company will no longer be subject to UK Market Abuse Regulation or AIM-specific disclosure and takeover protections.
Other AIM gainers included Anglesey Mining (LON: AYM), up 48.1% to 6p after setting out the investment case for its Parys Mountain copper project, pointing to a defined resource and a stronger balance sheet following its recent recapitalisation. Mothercare (LON: MTC) recovered two-fifths to 0.98p after the prior week’s disclosure that £1.54m of debt facilities had been drawn down, taking the total to £10m. Sunrise Resources (LON: SRES) rose 39.3% to 0.0195p on high-grade assay results from its Reese Ridge zinc-lead-silver project in Nevada.
CT Automotive (LON: CTA) fell 29.8% to 37.2p, paring a 68.3% gain in July. First-half revenues grew 15% to $62.1m, but higher operating costs and production inefficiencies at its Mexico facilities will push profit well below first-half 2025 levels. Pehlwan Malik Holdings, whose principal subsidiary Green Destinations provides passenger transport services, recently acquired a 3% stake. In the year to July 2025, Pehlwan Malik Holdings reported revenues of £18.1m and pre-tax profit of £3.79m, per AIM Micro.
TruFin (LON: TRU) fell 40p to 100p after going ex-dividend on a special payment of 43.03p per share. Vulcan Two (LON: VUL) dropped 20.6% to 202.5p after cutting its forecast 2026 pre-tax profit from £1.9m to £1.1m, as additional staff costs and duplicated running costs from its three acquisitions weighed. Forecast revenues for 2026 were trimmed 4% to £38.9m.
For Wellnex Life, the shareholder vote on 8 September is the next binary event: approval clears the path to debt elimination and a restructured business built around the retained healthcare and contract manufacturing operations.
