4th Mar 2025 10:19
(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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Westminster Group PLC, up 27% at 1.4 pence, 12-month range 1.05p-3.5p. The London-based specialist security and services company has signed a minimum 15 year contract to provide security at four airports in Gabon. The deal is for an initial period of 15 years, with the option to then be renewed for another five. Westminster will "provide comprehensive ground security operations" and "provide the investment and expertise required to upgrade security", including "advanced detection, surveillance, and screening equipment". Expects the contract to generate around USD5.5 million in revenue for the first 12 months of operation. Westminster also announces that it has agreed to issue 100.0 million subscription shares at 1.2p each, raising GBP1.2 million, to Pantheon A Family Office Ltd, which should be appointing a representative to Westminster's board "in due course". Notes that the subscription was conditional on the signing of the Gabon contract, with net proceeds to be utilised for that project's working capital purposes.
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AIM - LOSERS
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Savannah Energy PLC, down 64% at 9.55p, 12-month range 9.55p-26.25p. The Africa-focused energy company announced its completion of a subscription, raising approximately GBP30.6 million total for 437.1 million shares at 7p each. "Together with the earlier announced signature of a new USD200m hydrocarbon asset acquisition debt facility, these transactions lay a strong foundation for the delivery of our 2025 - 2030 organic and inorganic growth plans," commented Chief Executive Officer Andrew Knott who has subscribed for 25.6 million shares. The announcement follows Savannah Energy's restoration to trading on AIM earlier on Tuesday.
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Vela Technologies PLC, down 38% at 0.0031p, 12-month range 0.0031p-0.016p. The Yorkshire, England-based investing company is proposing a share capital reorganisation to reduce the nominal value of its ordinary shares, to below 0.001p. Also announces plans to adopt a new investing policy, "to focus on the financial services space", and change its name to Caledonian Holdings PLC. Vela furthermore has raised GBP1.1 million through a placing and subscription for 44.00 billion shares at 0.0025p each. Investors will receive one warrant for every two fundraising shares they subscribed for, exercisable at 0.0075p. Company also names Jim McColl as a new executive director with Chris Cooke also joining the board as a non-executive. Notes that McColl is currently a non-executive at Amigo Holdings PLC.
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By Emma Curzon, Alliance News reporter
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Related Shares:
Westminster GroupSavannah EnergyVela TechnologiesAmigo