17th Oct 2024 11:13
(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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N Brown Group PLC, up 43% at 38.50 pence, 12-month range 13.05p-38.99p. The Manchester-based clothing and footwear online retailer accepts a takeover offer by Falcon 24 Topco, a company owned by Joshua Alliance. The offer values the clothing and footwear online retailer at around GBP191 million, with each N Brown shareholder entitled to receive 40 pence per share in cash. The transaction is expected to close in the first quarter of 2025. Chief Executive Officer Steve Johnson says: "N Brown continues to consistently serve its loyal and otherwise underserved customers, with exciting long-term prospects for the business. We continue to deliver on our strategy for growth, enabled by a sustainable and efficient operating model, and supporting our people and talent. Today's announcement from Bidco will enable us to accelerate that strategy for the benefit of all our stakeholders. The N Brown Independent Directors are therefore unanimously intending to recommend it to our shareholders."
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AIM - LOSERS
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CT Automotive Group PLC, down 4.4% at 54.00p, 12-month range 41.29p-85.00p. The developer of interior components to the global automotive industry says that Salman Mohammed is succeeding Anna Brown as chief financial officer of CT Automotive and joins the board with immediate effect. Brown will step down from the board on October 31, and will remain as a board and finance advisor until December 31. Mohammed joined CT Automotive in October last year as group finance director. Chair Raymond Bench says: "On behalf of the board, I would like to thank Anna for continuing to support the business and to welcome Salman to his new role as CFO. Naturally, we know him well already and over the last twelve months he has shown he has the requisite skills and knowledge to be a key part of our leadership team. I look forward to working closely with Salman as the business focuses on delivering on the expected step changes in revenue growth coming over the next two years."
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By Holly Beveridge, Alliance News reporter
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