The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Tekcapital PLC, up 5.0% at 13.65 pence, 12-month range 10.75p-37.80p. The intellectual property investment company says investee Innovative Eyewear Inc has landed a licensing agreement with New York-based brand development, marketing and entertainment platform, Authentic Brands Group LLC for a smart eyewear collection with sporting goods retailer Reebok International Ltd. Says the initial Reebok smart eyewear collection will launch in early 2024.
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AIM - LOSERS
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Capital Metals PLC, down 48% at 1.17p, 12-month range 1.14p-6.34p. The Sri Lanka-focused mineral sands company’s stock falls as it launches a discounter placing. Plans to raise £500,000 via placing 50.0 million new shares at 1.0p each - a 43% discount to Monday’s closing price of 1.75p. Will use funds to help resolve the license issues with the Geological Survey & Mines Bureau in Sri Lanka, and resume the development of the Eastern Minerals project. ‘Given our belief that the blockage arises from the actions of only a small number of bad actors, we are confident this can be achieved,’ says Chair Greg Martyr.
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Bidstack Group PLC, down 36% at 1.12p, 12-month range 1.05p-4.24p. The in-game advertising firm reports an increase in annual administrative costs which offset revenue growth for 2022. In 2022, its pretax loss widens to £8.8 million from £8.0 million a year prior. Revenue more than doubles to £5.3 million from £2.6 million. However, administrative costs jump 45% to £12.5 million. Looking ahead, the company expects its reseller network to ‘begin to contribute materially which is a cost-efficient approach to monetising our non-core markets,’ and touts the launch of an open market place in the second quarter of 2023.
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