14th Oct 2024 11:17
(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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Mulberry Group PLC, up 19% at 133.40 pence, 12-month range 90.00p-210.00p. The luxury leather goods maker says it will "consider the company's position", following Frasers Group PLC's improved offer, despite a swift rejection from Mulberry's majority owner. On Friday after the London market close, Frasers revealed a revised bid of 150 pence per share, higher than the 130p offer made before. The initial offer was rejected by Mulberry, supported by 56.4% shareholder Challice Ltd. On Sunday, Challice said it doesn't support the latest offer either. Early Monday, however, Mulberry said it will "consider the company's position" in light of the raised offer from Frasers, though it noted the rejection of the offer by Challice. Mulberry will make a further announcement on the Frasers offer "in due course".
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AIM - LOSERS
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Braveheart Investment Group PLC, down 12% at 3.51p, 12-month range 3.05p-11.84p. The technology investor buys a nearly 30% stake in IQ-AI Ltd from Braveheart Chief Executive Officer Trevor Brown. Braveheart buys 45.8 million IQ-AI shares from Brown at 1.1p per share, worth GBP503,372, and another 19.7 million shares owned by Brown's children at the same price, worth GBP216,203. The two purchases give Braveheart a 29.5% stake in IQ-AI. Braveheart on Friday says the related-party transaction is approved by its independent shareholders because the IQ-AI business fits Braveheart's investment strategy and the purchase is at "an attractive entry price".
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By Holly Beveridge, Alliance News senior reporter
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