4th Oct 2024 10:23
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Versarien PLC, up 11% at 0.0605 pence, 12-month range 0.0545p-1.105p. Says "pipelines continue to improve following the appointment of Stephen Hodge as [chief executive officer] just over a year ago". Says pipeline at October 1 was worth GBP4.7 million, up from GBP3.1 million. Of these commercial opportunities represents GBP1.6 million and grants GBP3.1 million. Says its focus remains on construction and leisure; "however, it maintains the ability to be agile enough to re-align to other sectors that form part of Versarien's commercial pipelines". Adds that it has placed in-house construction testing equipment orders to help accelerate its developments of graphene-based admixtures and quality control of 3D printed products, following a placing in late July that raised gross proceeds of GBP550,000. Company's research & development activity "continues to progress". CEO Hodge also says he is "optimistic that we will be able to progress the sale of Total Carbide".
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Good Energy Group PLC, up 5.8% at 275 pence, 12-month range 160p-412p. Agrees to acquire Amelio Enterprises Ltd, also known as Amelio Solar, for GBP5.5 million initial consideration. Amelio is a Lincolnshire-based "solar installation company with a strong presence in the commercial solar sector and extensive experience in education and public sector projects". The GBP5.5 million is payable in cash upon completion of the deal Good Energy says it may pay GBP500,000 deferred consideration in Q1 2025 if Amelio meets gross profit targets for 2024. Company expects the acquisition to make a material contribution to Good Energy's earnings from 2025 onwards, "as Amelio Solar continues to scale its commercial installation capacity". Says the deal "represents a further step in delivering on Good Energy's strategy to expand its capability in decentralised energy services by significantly expanding its geographical presence in the solar installation market".
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AIM - LOSERS
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Woodbois Ltd, down 22% at 0.3215p, 12-month range 0.31p-0.98p. Raises gross proceeds of GBP1 million through a subscription, for 357.1 million new shares at 0.28 pence each, by new and existing shareholders. Says the net proceeds "will strengthen the company's balance sheet whilst providing additional funding to accelerate exports of its product". Adds: "The increase of working capital strengthens the company's financial position, enhancing liquidity for timely operational needs. It supports growth initiatives (for example optimizing export to 50 containers a month), funding expansions and innovation to drive future revenues...The board believes this strategic move enhances stakeholder confidence by demonstrating robust financial management and reduces dependency on debt, providing flexibility to seize market opportunities. The net proceeds will also help the company fund the registration process of its carbon credits trading business."
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By Emma Curzon, Alliance News reporter
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