2nd Dec 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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K3 Business Technology Group PLC, up 54% at 96.25 pence, 12-month range 58.00p-116.00p. It it plans to return a "substantial" amount of proceeds from a disposal to shareholders. The business software provider, which serves fashion and apparel brands, has agreed to sell its NexSys unit to Syspro for GBP36.0 million in cash. "It is anticipated that a substantial proportion of the net proceeds will be returned to shareholders during the first half of 2025, following the board's due consideration of the most effective and practicable way of distributing net proceeds. The remainder of the proceeds will be retained within the group for working capital and restructure funding purposes," K3 says. NexSys provides business software solutions for manufacturers and distributors.
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Condor Gold PLC, up 19% at 28.65 pence, 12-month range 13.50p-37.00p. Condor receives takeover interest from Philippines-focused mineral resources firm Metals Exploration PLC. Metals Exploration said it is "in advanced-stage discussions" with the board of Condor, the company developing the La India gold project in Nicaragua. Metals Exploration owns the Runruno gold project in northern Philippines. In a statement on Sunday, Condor said it received two non-binding offers, one from Metals Exploration and another from Toronto-listed Calibre Mining Corp. The terms of either offer were not disclosed. Calibre on Monday, however, said it does not plan to make an offer for Condor.
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AIM - LOSERS
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Goldstone Resources Ltd, down 30% at 1.11p, 12-month range 0.63p-2.10p. The Ghana-focused gold explorer says a convertible loan note issued to Blue Gold International Ltd early last year was due for redemption at the end of November. The outstanding balance and accrued interest as of November 29 was GBP2.7 million. Under the terms of the financing, Goldstone has five days after the redemption date to make a final payment. "The company is in ongoing discussions with the provider of the CLN and other parties in relation to a potential variation and extension to the terms of the CLN and will provide a further update in due course," Goldstone says. "Whilst the company expects to be able to renegotiate or otherwise refinance the CLN, there can be no guarantee that this will be achieved. The board is taking appropriate professional advice regarding the company's trading position in the event that a solution cannot be achieved and the final payment under the CLN cannot be repaid or rescheduled prior to 9 December 2024."
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By Eric Cunha, Alliance News news editor
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