20th Jun 2024 10:45
(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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Savannah Resources PLC, up 10% at 4.36 pence, 12-month range 1.50p-5.00p. The company strikes a partnership with AMG Critical Materials NV, which the AIM listed Barroso lithium project develop said will allow it to reach a final investment decision at the Portuguese asset. As part of the deal Amsterdam-listed AMG has invested GBP16 million in Savannah Resources through a subscription of 342.6 million shares at 4.67p each, an 18% premium to its 3.95p closing price on Wednesday. "This investment will allow Savannah to reach a final investment decision point on [Barroso]. The partnership also includes an offtake heads of terms agreement through which, once final agreements are negotiated and signed, AMG can purchase 45,000 tonnes of spodumene concentrate from the project (approximately 25% of total) for 5 years based on prevailing market prices at the time," Savannah Resources adds.
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Time Out Group PLC, up 4.8% at 54.50 pence, 12-month range 40.03p-55.50p. The media and hospitality business says sales in both its Media and Market arm picked up in the final quarter ended June 30. It now expects earnings before interest, tax, depreciation and amortisation to be ahead of current market expectations. "We are pleased with our recent trading performance and are increasingly confident that this momentum will continue as we approach the new financial year. Our growth plan and strategic decisions are delivering results; our strong brand and curated 'best of the city' content continues to attract more traffic to our digital Media and more footfall to our Markets, alongside our pipeline of openings," Chief Executive Officer Chris Ohlund says.
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AIM - LOSERS
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YouGov PLC, down 33% at 550.00p, 12-month range 483.00p-1,240.00p. Shares fall to this 52-week low on Thursday. The market research and data analytics firm says it has seen lower sales bookings than anticipated recently. As a result, YouGov now expects reported revenue for financial 2024 to be around GBP324 million to GBP327 million, up from GBP258.3 million in financial 2023. YouGov says it invested in the business to set up for an acceleration in growth in the second half of the financial year, but this growth was below expectations. As a result, it now expects full-year group adjusted operating profit to be between GBP41 million to GBP44 million, down from GBP48.3 million in financial 2023.
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By Eric Cunha, Alliance News news editor
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