The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Vertu Motors PLC, up 6.7% at 83.66 pence, 12-month range 45.00p-84.22p. The stock rises after a regulatory filing shows car-buying website operator Cinch has lifted its stake in Vertu. Cinch now has a 4.2% stake in the Gateshead, England-based car dealership chain, lifted from 3.1%. The stock hits this 52-week high on Thursday.
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Audioboom Group PLC, up 15% at 218.00p, 12-month range 130.00p-680.00p. The publisher of podcasts said it has added to its creator network through ‘new exclusive partnerships with top tier podcasts’. ‘These shows are expected to contribute more than 5 million downloads per month to the Audioboom Creator Network in 2024,’ it says.
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AIM - LOSERS
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Myanmar Investments International Ltd, down 9.8% at $0.050, 12-month range $0.040-$0.18. The investment firm proposes delisting from AIM as the military coup in Myanmar has ‘created significant uncertainty to the business prospects of the company’s remaining investments’. Its investees are not paying dividends, so the firm’s listing costs are being paid for through company cash reserve. It said it will ‘consider a potential distribution to shareholders’ but for now believes ‘that the cash reserves should be conserved within the company to pay future operating expenses as they are incurred’. ‘When the sale of an investment has been completed, the directors will re-consider this decision and consider capital distributions to shareholders. If the investments have not been sold before the time that the company reaches a cash level representing one year’s forecast expenses, the directors will need to arrange alternative funding such as a loan from or placement of new shares with shareholders or new investors,’ it adds.
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