29th Nov 2021 10:55
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Marshall Motor Holdings PLC, up 43% at 390.72 pence, 12-month range 125p-400p. Shares in the automotive retailer jump after Constellation Automotive Holdings makes a 400p-per-share takeover offer. This follows Marshall Motor late Friday confirming that Marshall of Cambridge Holdings, which holds a 64% interest in Marshall Motor, is considering a possible sale of its entire stake in the company. Marshall Motor notes bid, and that offeror has irrevocable undertakings from Marshall of Cambridge, and will make further announcement in due course.
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Frontier IP Group PLC, up 14% at 113p, 12-month range 57.44p-130.7p. Notes portfolio firm Vaccine Group achieves "significant milestone" in development of Covid-19 vaccine. Frontier IP holds 17% stake. Vaccine Group says results from pre-clinical trials in pigs for a SARS-CoV-2 vaccine candidate for use in humans shows strong T cell response is stimulated by a single immunisation, which is further boosted by a subsequent immunisation after four weeks.
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Belluscura PLC, up 12% at 100.5p, 12-month range 45p-112p. The medical device developer says the Medicare Administrative Contractor Palmetto GBA MolDx has issues final local coverage determination for the X-PLO2R portable oxygen concentrator. Medicare reimbursement covers approximately 50% of the oxygen concentrator market in the US. "The board believes the approval of the two reimbursement codes will have a positive impact on the company and expects to update shareholders on the full year outcome for FY21 in early January 2022," it says.
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AIM - LOSERS
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Arcontech Group PLC, down 15% at 107.5p, 12-month range 100.7p-204p. Says trading performance has "regrettably fallen below current market expectations" due to one customer reducing its market data spend and another notifying that it will not be renewing its contract from the start of the second half of 2022. "The reductions will take effect at the beginning of the second half of Arcontech's financial year and consequently will negatively impact revenue by annualised around GBP300,000, half of which will impact in the current financial year," the financial market data product and service provider says.
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Enwell Energy PC, down 15% at 32.3p, 12-month range 18.1p-49.5p. Says shut-in of the SV-2 and MEX-109 wells has knocked current production rates and will potentially hit overall production volumes for the fourth quarter. "However, continued high hydrocarbons sales prices will help to offset the anticipated overall lower production volumes and the resultant impact on revenues in Q4 2021," the oil and gas firm adds.
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By Lucy Heming;Â [email protected]
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Arcontech GroupFrontier IpMMH.LBelluscuraEnwell Energy