24th Dec 2024 10:22
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
----------
AIM - WINNERS
----------
Windward Ltd, up 42% at 207 pence, 12-month range 83.5p-207p. The Tel Aviv, Israel-based maritime predictive intelligence company has accepted a takeover offer worth GBP216 million from the fund group FTV VIII LP. The buyer Octopus UK Bidco Ltd is a London-based vehicle owned by FTV VIII LP, which is operated by San Francisco-based growth equity firm FTV Management Co LP. FTV VIII's offer is for 215p per Windward share, valuing the company's entire share capital at around GBP216 million in total. This represents a 46% premium on Windward's closing share price of 147.65p on Monday. FTV describes the deal as an opportunity "to increase exposure to the growing maritime compliance and supply chain end market". Also says it will drive Windward's expansion from the maritime sector "into a broader supply chain analytics provider". FTV remains "confident in the future prospects of Windward's business" although due to a need for investment, expansion could lower short to medium-term profitability. Windward's independent directors have unanimously approved the deal, and will recommend shareholders vote in its favour at a general meeting that will take place no later than January 10.
----------
Kooth PLC, up 11% at 180p, 12-month range 159p-345p. The London-based provider of digital youth mental health care announces plans to start a new share buyback. Says it believes its shares are "significantly" undervalued, and that the buyback will be worth up to GBP1.5 million. It will hold the repurchased stock in treasury to fulfil "future obligations arising from the company's long-term incentive plan and/or other share-based reward plans". Also announces the pilot contract with the US state of New Jersey, worth USD1.5 million, which has an initial one-year term with services expected to start in mid-January. Kooth will provide mental health support via its Soluna platform to New Jersey school districts, reaching 50,000 students aged 13 to 18. Says it already has infrastructure in the US to deliver the contract, with similar deals already in place in California and Illinois.
----------
AIM - LOSERS
----------
Kibo Energy, down 13% at 0.0105p, 12-month range 0.01p-0.04p. Publishes earnings for the first half of 2024 and resumes trading on AIM, having previously been suspended due to delays in publishing financial results. The Galway, Ireland-based company is a cash shell that formerly owned energy projects in Africa and the UK. Kibo reports that for the first half of 2024, pretax loss was GBP636,228, narrowed from GBP1.8 million a year earlier. Says revenue fell 11% to GBP176,697 from GBP198,438, in part due to asset disposals. During the half year, Kibo significantly reduced its shareholding in Mast Energy Developments PLC, and sold its interest in Kibo Energy Botswana Ltd in January to Aria Capital Management for GBP70,000. It made a profit from the disposal of non-current assets of GBP334,351, up from nothing the prior year. Impairments of non-current assets amounted to GBP15,315, compared to the prior year's impairment reversal of GBP4.1 million. The half year also saw Kibo undertaking an extensive restructuring and repositioning plan focused on its transition to a broader-based energy company.
----------
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.