28th Oct 2024 10:42
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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Good Energy Group PLC, up 17% at 346.02 pence, 12-month range 220.00p-426.00p. The firm receives an "unsolicited indicative, non-binding" takeover proposal from Esyasoft Holding Ltd. The renewable electricity supplier is evaluating the offer. In addition, Good Energy enters a deal to acquire Empower Energy Ltd for up to GBP8.0 million. "This is the fifth acquisition Good Energy has made in the past two years, and the fourth in solar installation services. The combination of Empower, the recently-acquired Lincolnshire based Amelio, and Good Energy's existing solar installation capability across the south, represent a major step towards completing Good Energy's strategic objectives in the solar installation market," the firm says. It will pay an initial GBP7.0 million, GBP6.3 million in cash and the remainder through the allotment of 254,237 new ordinary shares at 295p each.
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AIM - LOSERS
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Tlou Energy Ltd, down 41% at 0.73p, 12-month range 0.72p-2.55p. It recommends shareholders vote in favour of an AIM exit. Tlou's shares will remain listed on the Botswana Stock Exchange. "The company was admitted to AIM in 2015, at a time when there was good support from the UK market for African based projects and exploration companies such as Tlou. However, in recent years the level of support has dropped significantly especially in relation to exploration and fossil fuels despite the need for more exploration, mining and energy to power worldwide economies. This has been evident across many stock exchanges with the decline or delisting of many junior explorers. This pattern was a key factor in the decision to delist, with the company not expecting the trend to change in the foreseeable future," Tlou says. Should investors approve the AIM delisting, its expected last day of dealings will be December 30.
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Time Out Group PLC, down 6.3% at 45.00p, 12-month range 45.00p-57.00p. The firm late Friday said it is in negotiations for a possible London market site, "as part of a pipeline of further global locations in the ordinary course of business". "The company has not entered into any legally binding arrangements in relation to any London Market and there can therefore be no certainty that the current negotiations will result in a subsequent opening," Time Out says, responding to "recent media speculation". The media and hospitality business has sites in cities including New York, Lisbon and Cape Town.
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By Eric Cunha, Alliance News news editor
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