The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Inspecs Group PLC, up 15% at 108.00 pence, 12-month range 38.50p-400p. The Bath, England-based eyewear company extends rally from Thursday. On Thursday, Inspecs said full-year trading was in line with expectations, despite Covid-19 restrictions in China and Vietnam. The company predicted revenue for 2022 to be $246.0 million, flat from $246.5 million in 2021. It said on a constant exchange rate basis, revenue increased by 9.5%. Looking ahead, Inspecs said it has entered 2023 with a good order book, and it hopes to continue to seek operational efficiencies and reduce costs where appropriate.
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AIM - LOSERS
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Faron Pharmaceuticals Ltd, down 5.9% at 319.80p, 12-month range 155p-395p. The biopharmaceutical company raises €12.0 million from a placing of 3.7 million shares at the issue price of €3.25. Faron says that with these proceeds and the current level of activity, it has sufficient working capital into the third quarter of 2023. The main reason for the placing is to accelerate and expand the clinical development of the company’s main drug candidate, bexmarilimab.
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Goldstone Resources Ltd, down 8.3% at 3.53p, 12-month range 3p-10.75p. The Jersey, UK-based gold development company issues £2.4 million of convertible loan notes to Blue Gold International Ltd, which are due for redemption on November 30, 2023. The notes may be converted at any time prior to redemption into new ordinary shares of 1p each in the capital of the Goldstone at a conversion price of £0.0325 per share. BGL also receives warrants to subscribe for up to 60.0 million shares at a price of £0.04 per share, at any time until January 26, 2025.
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