THEWORKS.CO.UK announced a reduction in its dividend payout as it reported a decline in pretax profit for fiscal year 2023. The company cited higher sales costs in a challenging business environment as the reason for the decrease. In addition, the company's chief financial officer will be stepping down from their role.

At 10:45 GMT, shares of THEWORKS.CO.UK were down by 12%, or 3.75 pence, to 28.50 pence.

Vertu Motors Faces Decline in Used Vehicle Sales

Vertu Motors revealed that it experienced a drop in sales of used vehicles during the first five months of the year. The company attributed this decline to higher interest rates, which prevented them from offering 0% finance options like they did the previous year. The market outlook for Vertu Motors remains uncertain.

Shares of Vertu Motors declined by 1.7%, or 1.20 pence, to 68.10 pence.

Bidstack Group Forms Partnership with Venatus Media

Bidstack Group has entered into a commercial partnership with advertising agency Venatus Media. This collaboration grants Venatus exclusive access to Bidstack Group's inventory across six markets.

Shares of Bidstack Group increased by 10%, or 0.08 pence, to 0.83 pence.

Instem to be Acquired by Ichor Management

Instem has agreed to a takeover worth £203 million ($256.7 million) by Ichor Management, a newly established company controlled by funds managed by Archimed.

Shares of Instem surged by 39%, or 230.0 pence, to 820.0 pence.

Graft Polymer (UK) Signs Agreement with Empresas Vilher

Graft Polymer (UK) has entered into a research-and-development and supply agreement with Mexican company Empresas Vilher.

Shares of Graft Polymer (UK) rose by 2.2%, or 0.05 pence, to 2.35 pence.

Belluscura Secures 10-Year Agreement with InnoMax Medical Technology

Belluscura has finalized a 10-year agreement with Chinese partner InnoMax Medical Technology. This agreement allows Belluscura to manufacture and distribute portable oxygen concentrators in China, Hong Kong, Macau, and Singapore.

Shares of Belluscura increased by 21%, or 8.50 pence, to 49.50 pence.

Market Update:

• FTSE Small-Cap down by 0.08%
• AIM up by 0.15%