The Time Finance takeover bid from Ultimate Finance dominated AIM trading on Tuesday, with the 59.1p-a-share offer valuing the small business lender at £55.1m and lifting its shares 9.52% to 57.5p. Elsewhere on the junior market, a Bangladesh government policy update sent coal developer GCM Resources surging 107.7%.
Time Finance Takeover Bid at 59.1p a Share
Time Finance (LON: TIME) said its board is recommending the cash offer from Ultimate Finance, which was itself taken private after a spell as an AIM-quoted company. Both lenders focus on smaller businesses; Ultimate Finance additionally provides property bridging loans.
The three largest Time Finance shareholders have already backed the bid, giving the deal a solid base of support ahead of the shareholder vote.
Tertiary Minerals Copper Discovery Adds to Mushima North Picture
Tertiary Minerals (LON: TYM) disclosed a new shallow copper mineralised zone in the western zone of its Mushima North project in Zambia, sending its shares up 11.5% to 0.0725p. The headline result from the current drill programme is an intersection of 25 metres at 0.38% copper.
The company’s Phase 4 drilling programme at Target A1 comprises 39 reverse circulation holes and is designed to improve geological understanding and build confidence in mineral continuity, according to Yahoo Finance. One hole has already returned 82 metres grading 107 grams per tonne silver equivalent from near-surface, with mineralisation continuing beyond the depth of the hole.
Tertiary Minerals released initial lab results from the Phase 4 programme on 1 September 2026, followed by further analytical results on 7 September 2026 covering seven additional drill holes. Drilling at the target commenced on 25 June 2026. The company intends to use the Phase 4 results to support preparation of a future mineral resource estimate compliant with the JORC reporting code.
More results are expected shortly.
GCM Resources (LON: GCM) was the session’s standout mover, jumping 107.7% to 8.1p after the company said recent Bangladesh government statements are positive and that the government is finalising its national energy mix policy, with coal likely included. Thor Energy (LON: THR) rose 11.1% to 0.5p ahead of managing director Andrew Hume’s presentation to the Petroleum Exploration Society of Australia on Tuesday, focused on the natural hydrogen industry.
Fallers: Results and Operational Updates Weigh
Optima Health (LON: OPT) fell 3.84% to 238p, just below its two-year high, after reporting full-year revenues up from £105m to £120.6m and underlying pre-tax profit rising from £12.8m to £14.2m, in line with June guidance. The company sees scope for longer-term margin improvements.
MTI Wireless Edge (LON: MWE) dipped 3.01% to 64.5p despite interim revenues growing 11% to $26.7m. Antenna sales fell because of timing issues, though the division’s profit contribution held firm excluding a $100,000 bad debt write-off. Irrigation technology arm Mottech and defence and electronics unit MTI Summit both grew revenues and profit.
Net profit rose from $2m to $2.5m, and net cash stood at $7.7m at the end of June 2026. Management expects full-year pre-tax profit to rise from $5.4m to $5.8m, backed by a strong order book across all three divisions. MarketBeat notes the group has paid dividends in each of the last eight years and has completed four profit-enhancing acquisitions since 2013.
Jangada Mines (LON: JAN) slipped 2.94% to 0.825p after completing phase 1 drilling at its Molly gold project in Brazil. Bonanza grades at the Vivi target confirm the potential to expand an inferred resource of 130,000 ounces at an average grade of 2g/t.
Hercules (LON: HERC) fell 5% to 38p. The staffing company secured £310,000 of new funded training awards for its Hercules Academy and is working with seven prisons on education programmes, with pilot schemes running alongside infrastructure clients. Further funding decisions are pending.
The Time Finance shareholder vote on the Ultimate Finance offer will be the next catalyst to watch for AIM investors this week.
