22nd Jul 2021 10:49
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Restore PLC, up 13% at 475.00 pence, 12-month range 280p-500p. Marlowe approaches Restore over possible takeover worth 530p per share. Says this was second proposal made to Restore board over the last few weeks, and both were rejected. Says possible offer would consist of 71p in cash and the remainder in Marlowe shares. Restore confirms rejection of offer, noting first proposal was worth 515p per share. Says it concluded the initial approach undervalued firm and with a low cash element, was not in best interests of Restore shareholders. Adds: "As the second approach did not represent any material improvement to the original approach, the board unanimously rejected the second approach on 5 July 2021 on the same basis." Marlow has until August 19 to either announce a firm offer for Restore or walk away. Marlowe shares were 1.6% lower in mid-morning trade.
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Open Orphan PLC, up 11% at 24.04p, 12-month range 12.26p-48p. Notes editorial opinion piece on the UK government's Human Challenge Programme has been published in the latest edition of the New England Journal of Medicine. The programme, part of the government's vaccine taskforce, is a collaboration which includes Open Orphan subsidiary hVIVO. "We are delighted to see support for the Covid-19 Human Challenge Programme in a publication such as the New England Journal of Medicine," says Open Orphan Executive Chair Cathal Friel.
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AIM - LOSERS
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LoopUp Group PLC, down 18% at 51.55p, 12-month range 50.91p-250p. Expects revenue for first half of 2021 to be no less than GBP11.5 million, which would be 13% below management forecasts. While it has seen material acceleration in new customer wins in Cloud Telephony, it says Remote Meetings business continues to see customers move to "more cost-effective committed term subscription and minimum spend contracts", as well as "sustained intense" competition.
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By Lucy Heming;Â [email protected]
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