31st May 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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Revolution Bars Group PLC, up 13% at 1.30 pence, 12-month range 0.92p-7.01p. The bar chain says it has concluded its formal sale process. The process did not result in any proposals being made and it is no longer in an "offer period." Also launches restructuring plan. "As previously stated, the restructuring plan would enable the plan company to restructure certain of its liabilities, this includes amending and extending the group's secured lending facilities, exiting the leases of certain loss-making sites, and proposing a rent reduction on certain other sites to enable them to return to profitability at a sustainable level," Revolution Bars says. Expects the restructuring plan to return the company to profitability, and is therefore in the best interest of shareholders.
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Katoro Gold PLC, up 9.3% at 0.15p, 12-month range 0.061p-0.17p. Shares in the gold and nickel exploration and development company rise. Katoro reports operating loss of GBP613,872 in 2023, narrowed from GBP1.3 million a year earlier. Pretax loss narrows to GBP613,860 from GBP1.3 million. Chair Sean Wade says: "Katoro has entered 2024 with a comprehensive strategy aimed at resetting the Company's trajectory. This renewed approach involves a refreshed board of directors, strategic advisory support, and a revised funding plan. We believe these combined efforts hold significant potential to unlock substantial value for our shareholders."
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AIM - LOSERS
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Nostra Terra Oil & Gas Co PLC, down 11% at 0.10p, 12-month range 0.072p-0.20p. In 2023, the oil and gas company reports revenue of USD2.8 million, down from GBP4.0 million a year earlier. "This reflects a combination of a 13% decrease in production sales and a deterioration in the commodity price environment," Nostra explains. Pretax loss narrows to GBP472,000 from GBP546,000. Chair Stephen Staley comments: "Over the past year, we have seen an escalation in turmoil across the globe, with the start-up of a conflict in the Middle East while the war in Ukraine continued unabated. Against this uncertain macro backdrop, the company maintained its focus on its US domestic market activities with a renewed emphasis on cost controls and cash flow generation. This was important because oil prices were generally flat for the year while inflation increased our overall cost base."
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By Sophie Rose, Alliance News senior reporter
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