2nd Jan 2025 09:46
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Thursday.
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AIM - WINNERS
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Emmerson PLC, up 29% at 0.78 pence, 12-month range 0.20p-3.50p. The Morocco-focused potash development company says it has signed a deal with a specialist litigation funding firm to secure USD11.0 million in financing. The funding will go towards a dispute with the government of Morocco. In addition, it confirms Boies Schiller Flexner LLP as its litigation counsel. The dispute, Emmerson explained in November, arose from "various breaches" to the bilateral investment treaty signed in 1990 between the UK and Morocco for the promotion and protection of investments, which came into force in 2002.
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Mission Group PLC, up 18% at 28.39p, 12-month range 17.00p-29.50p. The owner of a group of digital marketing and communications agencies has sealed the sale of its April Six Inc subsidiary to Marketbridge Inc for a total of GBP17.4 million. The net proceeds will go towards paying off debt. Mission also announces a GBP1.5 million share buyback programme. It also updates on its capital allocation policy. Maintaining a "strong balance sheet" is the priority, then investing in growth and then any surplus cashflow can be returned to investors. "The board expects to return to paying ordinary dividends in 2026," Mission Group added.
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Revolution Beauty Group PLC, up 15% at 15.80p, 12-month range 12.00p-35.78p. Shares in Revolution Beauty soar after it settles a dispute with Chrysalis Investments Ltd. The London-based cosmetics retailer says it reached a "confidential settlement" with former shareholder Chrysalis, without any admission of liability by either party. It has agreed to pay Chrysalis a "non-material sum" which will "not have a material impact" on the company's financial and cash position.
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Griffin Mining Ltd, up 6.0% at 154.72p, 12-month range 86.50p-175.00p. The company resumed operations at the Caijiaying gold mine in China on Wednesday, it says. It follows an "extended shutdown" after a fatal incident in October.
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AIM - LOSERS
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Poolbeg Pharma PLC, down 35% at 4.60p, 12-month range 4.15p-15.77p. Poolbeg and Hookipa Pharma Inc have entered into M&A talks. A possible all-share deal, which will see Poolbeg acquired by Hookipa, would create "a strong clinical-stage biopharmaceutical company focused on developing and commercialising innovative medicines for critical unmet medical needs". Poolbeg shareholders would receive 0.03 of a Hookipa share for every Poolbeg share owned. Hookipa is expected to undertake a private placement, netting USD30 million, which will "provide sufficient capital for the enlarged business to realize meaningful expected value inflection points". Hookipa plans to remain listed on the Nasdaq and would apply for Poolbeg's AIM listing to be cancelled.
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By Eric Cunha, Alliance News news editor
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