7th Jan 2025 10:51
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Team Internet Group PLC, up 27% at 116.00 pence, 12-month range 76.40p-207.50p. It says it has received two takeover approaches, which it is considering with advisers. The London-based internet services company said the proposals are from TowerBrook Capital Partners UK LLP and Verdane Fund Manager AB, both for 125 pence per Team Internet share in cash. The proposals come with an option for Team Internet shareholders to elect for an unlisted equity alternative in respect of Team Internet shares. Team Internet in the past has rejected earlier approaches from both companies. "The board is currently considering both approaches with its advisers, including limited interaction with the potential offerors, and will make further announcements in due course as appropriate," the company says.
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Coral Products PLC, up 15% at 7.16 pence, 12-month range 4.77p-18.48p. The maker of bespoke plastic products agrees a final settlement for the insurance claim relating to a fire in May 2020, resulting in a cash payment to the firm of GBP900,000. In addition, it announces it has exchanged contracts for the sale and leaseback of two freehold properties. The sale is to Glenbrook H1 Ltd for GBP1.7 million. "Of the GBP2.6 million of gross proceeds including the insurance claim and the proceeds from the sale and leaseback, GBP1.1 million will be used to pay down, in full, the remainder of the mortgage on the two freehold properties and other borrowings. The remaining GBP1.5 million will be used to strengthen both working capital and the company's balance sheet," Coral says.
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AIM - LOSERS
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Corero Network Security PLC, down 4.5% at 18.62p, 12-month range 7.55p-29.30p. The firm says it expects to report an annual earnings growth of up to 33%, ahead of its full-year results release. The London-based cybersecurity firm specialising in distributed denial of service protection says it expects full-year trading across 2024 to be "broadly" in line with market expectations, citing current market estimates of USD25.4 million in revenue and USD2.5 million in earnings before interest, tax, depreciation and amortisation, inclusive of IFRS 2 charges.
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By Eric Cunha, Alliance News news editor
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