Arcontech Group PLC (AIM:ARC) slumped 19% to 103p on the back of a trading update.

The provider of products and services for real-time financial market data processing and trading said its trading performance had “regrettably fallen below current market expectations” due to one customer reducing its market data spend with the company and notification from another customer that it will not be renewing its contract from the start of the second half of 2022.

The first customer is greatly scaling back its market data team and market data requirements, while the second is choosing not to renew its contract for one Arcontech product because it is switching to use a solution included in a legacy, bundled contract.

1.40pm: Cautious update from Osirium knocks the share price

Osirium Technologies PLC (AIM:OSI) issued a cautious trading update that prompted an 8.2% fall in the share price to 16.75p.

The company boasted of growing customer numbers but also warned that lower contract values have affected its bookings and revenue.

The cybersecurity firm said the average initial contract values have been lower and decision times longer in recent months owing to ongoing caution and disruption around customers’ strategic information technology plans, due to the COVID-19 pandemic.

12.45pm: Amigo warns it could collapse if latest scheme is not approved soon

Amigo Holdings PLC (LSE:AMGO) saw its shares plunge 23% to 8.2p after it warned it could go bust if it is prevented from resuming lending.

“As noted previously, the sanctioning of a new scheme is increasingly urgent,” the controversial lender said in its half-year results, referring to its most recent scheme (the other two were rejected) to redress creditors.

“Without an approved scheme, Amigo expects to have to file for administration or other insolvency process,” it said.

11.50am: SIMEC Atlantis rises after boardroom changes

SIMEC Atlantis Energy Limited has welcomed Andrew Dagley, its former chief financial officer (CFO), back to the board as a non-executive director.

Meanwhile, Andrew Charters has been appointed as CFO.

Shares in SIMEC Atlantis were up 29% at 1.9p.

10.55am: Marshall Motor revs up as bid from Cinch owner materialises

Marshall Motor Holdings PLC (AIM:MMH), one of Friday’s top risers on bid speculation soared 43% to 392p as a bid duly materialised over the weekend.

The company is to be taken over by Constellation Automotive Group, which owns Cinch and

The board of Marshall has recommended an offer from Constellation of 400p in cash per share.

10.00am: Frontier IP lifted by vaccine news

Frontier IP Group PLC (AIM:FIPP) advanced 12% to 111p after it said its investee company, The Vaccines Group, had delivered encouraging pre-clinical results for a next-generation Covid inoculation.

Data from The Vaccines Group revealed its herpesvirus-based jab stimulated a strong T cell response when used on pigs. It described the results as “very strong”.

Frontier owns 17% of The Vaccine Group.

9.05am: Avacata and genedrive among the early risers

Avacta Group PLC (AIM:AVCT) shares rose 6.7% to 128p after the US Food and Drug Administration had approved its Investigational New Drug application for AVA6000.

AVA6000 is a novel form of doxorubicin that has been modified with Avacta’s pre|CISION platform to improve its safety and therapeutic index.

“This is a major milestone in our development of pre|CISION chemotherapies,” said Dr Alastair Smith, the chief executive officer of Avacta.

Sector peer Genedrive PLC was also up by 6.8%, to 24.75p, after it submitted its new rapid point of care molecular test for SARS-CoV-2 detection for CE-IVD certification.

The Genedrive COV19-ID kit offers a step-change in rapid molecular testing, delivering positive results as quickly as 7.5 minutes and negative results at 17 minutes, the company said.

“The new Genedrive COV19-ID Kit combines the speed and ease of lateral flow testing with molecular-level accuracy in a low cost and portable device. We are now able to progress the commercial evaluations of the product to selected partners and given its performance in our studies, we believe there remain substantial market opportunities that can be targeted,” said David Budd, the chief executive officer of genedrive.

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