This week’s AIM weekly movers were dominated by a bid approach that quickly unravelled: Infill Capital Partners, acting through its vehicle Lume HoldCo S.à r.l., confirmed on 14 July 2026 that it does not intend to make an offer for hostels operator Safestay (LON: SSTY), four days after the offer period commenced on 10 July 2026. Safestay shares had doubled to 27p on news of the talks, which had proposed a cash offer and an unlisted share alternative that could have valued the company at £40.9m, including debt.
Safestay’s net asset value stood at 22.21p per share at the end of 2025, against net debt of £18.6m. With ICP out, the question for investors is whether a revised approach or a rival bidder emerges.
AIM Weekly Movers: Gainers Led by Ghana Drilling Play
Persistence Gold Group is investing £3.51m in GoldStone Resources (LON: GRL) at 1p per share. The proceeds will fund a drilling programme at the Homase mine in Ghana to expand the JORC mineral resource, alongside exploration and mine planning work. Persistence Gold, which holds 20.96% of GoldStone, can appoint one director for as long as its stake remains above 15%. Strand Hanson has been appointed broker. GRL shares jumped 36.4% to 0.75p, still well below the 1p subscription price.
The Akrokeri-Homase project hosts a JORC Code compliant 602,000 oz gold resource at an average grade of 1.77 g/t. The Homase mine was previously operated by AngloGold Ashanti in 2002-03. GoldStone completed a gold pour of approximately 385 oz of doré at the end of January 2026. The company also extended its gold loan maturity to 31 December 2026, deferring interest payments until 30 June 2026, under a standstill agreement with Asian Investment Management Services Ltd.
Diagnostics developer EDX Medical (LON: EDX) agreed to supply molecular profiling products and services to Astron Health, which offers precision oncology second opinions. The shares gained 27.3% to 10.5p.
Floorcoverings company Victoria (LON: VCP) announced a refinancing agreed with Koch and consenting holders of 2028 loan notes. New loan notes maturing in 2031 will be issued, and ordinary shares will be swapped at a premium for part of the loan note debt and the majority of preferred shares. The deal cuts annual financing costs by £34m and reduces liabilities by at least £300m. Trading in 2025-26 was in line with guidance, with like-for-like growth recorded so far this financial year. Victoria shares rose 25.8% to 70.8p.
Fallers: Hydrogen Shares Hit Record Low After Suspension Lifted
Clean Power Hydrogen (LON: CPH2) returned from suspension after completing a fundraising, and the shares fell 89.7% to a record low of 1.4p. A retail offer raised its £500,000 target at 1.5p per share. The company had already raised £2.54m from a placing, and a further £4.47m has been raised conditionally, taking the total to £7.5m. The funds will support a strategic shift to partnerships, licensing, and manufacturing agreements, with cash expected to last at least until June 2027.
Phoenix Copper (LON: PXC) raised £2.3m at 0.5p per share, with a retail offer adding a further £67,000. The proceeds will repay short-term debt owed to Indigo Capital, currently $1.564m, and cover ongoing costs and detailed engineering at the Empire copper project in Idaho. The share price fell 57.7% to 0.465p.
Cleaner fuels developer Quadrise (LON: QED) raised £12m via a placing at 1p per share. A retail offer that could raise a further £1.2m is planned. The cash will help scale MSC/Cargill marine trials and pursue supply agreements with refineries. If the retail offer is fully subscribed, Quadrise expects sufficient working capital to reach cash flow positive in 2028-29. The shares slid 41.5% to 1p.
Futura Medical (LON: FUM) shares fell by one-third to 0.37p after the European Patent Office opposition division confirmed its decision to revoke the Eroxon patent. An appeal has been filed but could take up to two years to resolve. The patent stays in force until a final decision is reached.
With the Safestay bid period now formally closed and no offer on the table, any renewed approach or competing interest in the hostel operator would need to clear the Panel on Takeovers and Mergers’ standard timetable restrictions.
