10th Dec 2021 11:28
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Pathfinder Minerals PLC, up 25% at 0.69 pence, 12-month range 0.37p-0.90. The natural resources explorer's shares rise as it prepares for its impending legal dispute claim with the government of Mozambique. Pathfinder says it has "significantly advanced" its preparation to refer the dispute to the International Centre for Settlement of Investment Disputes. Preparatory work includes the development of a detailed budget and timeline for claimant costs, the identification of the company's litigation team, and independent professional analysis of valuations for differing successful outcomes at an ICSID tribunal.
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Open Orphan PLC, up 12% at 20.66p, 12-month range 16.86p-48.00p. The pharmaceutical services provider says its hVIVO subsidiary has signed a USD13.4 million contract with an unnamed US-based biotechnology company to test its new antiviral candidate against influenza.
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AIM - LOSERS
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Omega Diagnostics Group PLC, down 20% at 26.13p, 12-month range 21.25p-117.98p. The medical diagnostics company says UK Department of Health & Social Care requests repayment of GBP2.5 million because the company failed to advance to Phase 2 of a Covid-19 test-manufacturing contract. Omega, having taken initial legal advice, does not believe it is required to repay the pre-production payment. The board will continue to take further legal advice on this matter and hopes to reach a resolution swiftly, it adds. Chief Executive Officer Colin King says: "It is clearly disappointing to receive this request for repayment given the efforts we have gone to ensure manufacturing capacity for Covid-19 lateral flow test was available for the DHSC and that we did not progress to Phase 2 of the contract due to the lack of confirmation from the DHSC regarding which test they require us to manufacture."
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ASOS PLC, down 4.4% at 2,412.00p, 12-month range 2,266.00p-5,994.95p. UBS slashes price target on the online fashion retailer by 24% to 3,040.00p from 4,000.00p and reiterates Neutral rating. ASOS is one of the largest companies on AIM with a market value of GBP2.53 billion.
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By Arvind Bhunjun; [email protected]
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