22nd Feb 2024 11:17
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Primorus Investments PLC, up 32% at 5.50 pence, 12-month range 2.30p-6.28p. The investment firm receives cash proceeds of USD6.1 million after investee Payapps was acquired by New York-listed Autodesk. It says it is mulling its options for that cash. Primorus adds: "The receipt of these funds provides a substantial increase in the cash position of the company. The board of the company are considering various options to return value to shareholders whilst also maintaining enough capital in the company to continue implementing its investing strategy. A further announcement will be made in due course."
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Powerhouse Energy Group PLC, up 28% at 0.43 pence, 12-month range 0.23p-1.45p. The Bingley, England-based non-recyclable waste-to-energy conversion firm strikes a five-year deal with Australian based, National Hydrogen Ltd centred on the rollout of multiple hydrogen-based projects in Australia, Italy, Switzerland, and Hong Kong. Powerhouse unit Engsolve will perform front-end engineering design for the facilities, which will be fully funded by National Hydrogen. Powerhouse adds: "Powerhouse will not be required to contribute any capital for these projects. Instead, the collaboration will be based on a license fee and royalties model. This arrangement establishes a long-term relationship between Powerhouse and National H2, while also potentially providing a long-term income stream for the group."
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AIM - LOSERS
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Sylvania Platinum Ltd, down 8.2% at 48.66p, 12-month range 47.05p-115.00p. The South Africa-focused platinum group metals producer reports weaker half-year results on less favourable pricing. Net revenue in the six months to December 31 falls 49% to USD40.8 million from USD79.9 million. Its pretax profit tumbles to USD8.1 million from USD45.5 million.
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By Eric Cunha, Alliance News news editor
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