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AIM WINNERS & LOSERS: Argentex plummets on CEO's sudden departure

26th Oct 2023 10:35

(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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Kromek Group PLC, up 15% at 4.76 pence, 12-month range 3.00p-12.44p. The detection technology supplier wins a USD5.9 million contract from the US Department of Homeland Security Countering Weapons of Mass Destruction Office for the research and development of technologies focusing on an agent agnostic bio-detection system. The contract has been awarded under a four-year programme, which commences immediately. Kromek expects to receive USD874,000 during the first year base period. Chief Executive Arnab Basu says: "We are pleased to have been awarded this new contract for the research and development of agent agnostic biosecurity technologies, which will build on our existing expertise and technology in the field of automated bio-detection solutions."

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AIM - LOSERS

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Safestyle UK PLC, down 58% at 0.67p, 12-month range 0.50p-32.00p. The retailer and manufacturer of PVCu replacement windows and doors says that it does not expect to receive a capital injection or new financing. Earlier this month it said it was considering a number of options which could include the sale of some subsidiary businesses. However, the firm says it is in "active discussions" regarding the sale of some or all of its assets, but noted there could be no certainty of a sale, nor of the level of return to shareholders.

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Argentex Group PLC, down 22% at 75.20p, 12-month range 66.15p-142.00p. Shares in the international provider of foreign exchange services for institutions, corporates and high-net-worth private individuals fall. Argentex says that its Chief Executive Officer Harry Adams has stepped down, with immediate effect. Jim Ormonde has been appointed as interim CEO on an interim basis. Chair Nigel Railton says: "We have recently conducted a review of Argentex's strategy and have identified a number of areas of focus to ensure the continued growth of the business. Jim is an experienced operator with a strong track record in successfully scaling technology businesses and I am pleased that he has agreed to step up and lead the team to start the important process of implementation."

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By Sophie Rose, Alliance News reporter

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