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AIM WINNERS & LOSERS: Bens Creek falls as it lays off workers

12th Apr 2024 10:04

(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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Huddled Group PLC, up 2.3% at 2.66 pence, 12-month range 2.00p-4.75p. The investor says it will acquire Food Circle Supermarket Ltd for up to GBP300,000. It says that the acquisition will comprise the entire stock, intellectual property, website and other social channels of Food Circle. Food Circle is an online retailer based in Dinnington, South Yorkshire. In 2023, it delivered revenue of around GBP1.4 million. Huddled Chief Executive Officer Martin Higginson says: "Food Circle is positioned at the intersection of a number of market trends; the continued search for value among consumers, the demand for e-commerce and direct delivery services, and the growth in health and nutrition products to support active lifestyles. It has developed important relationships with brands for whom responsible disposal of surplus stocks remains a priority, and this will remain a core mission for Food Circle."

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AIM - LOSERS

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Bens Creek Group PLC, down 28% at 0.61p, 12-month range 0.35p-21.79p. Bens Creek plummets, after it reports that it has laid off 44 Bens Creek Operations WV LLC employees. The owner and operator of metallurgical coal mines across North America said that the move is due to "the depressed metallurgical coal price", as well as "financial constraints at the company and production difficulties", at its mining project in West Virginia. Bens Creek adds that the mine will be operated on a care and maintenance basis for the time being.

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Tern PLC, down 23% at 2.64p, 12-month range 1.60p-11.00p. The 'internet of things' technology investor raises GBP420,000 via placing 17.5 million shares at 2.4 pence each. The placing price represents a 31% discount to the company's closing price of 3.48p on Thursday. Tern will use the funds to invest in Wyld Networks AB and to invest in at least one more company, as well as for general corporate purposes.

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By Sophie Rose, Alliance News senior reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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