24th Jun 2024 10:48
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Empyrean Energy PLC, up 46% at 0.34 pence, 12-month range 0.20p-1.08p. The oil and gas developer with projects in China, Indonesia and the US says it has entered into a deal to sell the domestic portion of the gas produced from the Mako field. The deal is with PT Perusahaan Gas Negara Tbk, the has subsidiary of Indonesia's national oil company. "The GSA with PGN for gas from the Mako gas field (in which Empyrean has an 8.5% participating interest), is an important step in the commercialisation of the Mako gas field (the largest undeveloped gas field in the West Natuna Sea)," Empyrean adds.
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tinyBuild Inc, up 10% at 5.50 pence, 12-month range 2.20p-35.00p. The video game developer and publisher says sales are "slightly ahead of expectations for the first five months of the year", ahead of a second-half heavy release schedule. This is despite the industry backdrop remaining challenging. "Versus Evil continues to underperform, after the disappointing launch of Broken Roads in April 2024. Despite this challenging backdrop, tinyBuild is carefully managing its catalogue while investing in high-potential new IP and tinyBuild's revenues have started to trade slightly ahead of expectations for the first five months of the year," it adds. "All considered, the board remains confident the company is on track to deliver results in line with expectations."
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AIM - LOSERS
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Directa Plus PLC, down 2.6% at 19.00p, 12-month range 16.00p-68.85p. The graphene product manufacturer reports some investors, accounting for just under 20% of its shares, plan to vote against a resolution related to a proposed GBP6.8 million fundraise. "The board believes this action jeopardises the future viability of the business and will have a material adverse effect on the Group's business, financial condition, prospects, capital resources, cash flows, share price, liquidity, results and/or future operations," it adds. Should the vote not pass, it will need to seek other, emergency, forms of funding. It cautions this funding may be "on terms significantly less favourable to the company and its shareholders". The general meeting is on Thursday.
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By Eric Cunha, Alliance News news editor
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