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AIM WINNERS & LOSERS: Surface Transforms sinks on discount placing

2nd May 2024 10:48

(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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Kinovo PLC, up 20% at 49.10 pence, 12-month range 40.50p-68.50p. The London-based property services provider says that results for the financial ended March 31 are expected to be ahead of expectations. Kinovo expects to report GBP6.7 million in adjusted earnings before interest, tax, depreciation and amortisation, up 22% from GBP5.5 million the previous year and ahead of the company's GBP6.2 million forecast. Kinovo also expects GBP64 million in revenue, up 2.1% from GBP62.7 million.

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Reabold Resources PLC, up 14% at 0.077p, 12-month range 0.060p-0.19p. The investment company focused on European gas projects announces a gas-purchase agreement between Gunvor International BV and LNEnergy Ltd, in which Reabold holds a 26% stake. Gas will be purchased by Gunvor from LNEnergy from the Colle Santo field, onshore Italy. Gunvor will purchase around 44,000 tonnes of LNG per year, Reabold says, at a cost aligned with the Italian virtual exchange point price.

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AIM - LOSERS

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Surface Transforms PLC, down 64% at 1.02p, 12-month range 1.02p-38.40p. The Liverpool-based manufacturer of carbon-ceramic brake discs announces that its bookbuild offer raised proceeds of GBP6.5 million through the placing of 58.7 million shares at an issue price of 1.00 pence each. The issue price represents a roughly 66% discount to the company's Tuesday closing mid-market price of 2.9p.

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By Hugh Cameron, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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