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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finnCap Group PLC, up 28% at 17.25 pence, 12-month range 12.50p-39.00p. finncap says it has received a non-binding takeover proposal from peer Panmure Gordon. The stockbroker says talks with Panmure are at an early stage, and there is no guarantee a firm offer is forthcoming. Panmure has until the close of play on November 15 to decide whether or not it plans to make an offer.
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Sosandar PLC, up 11% at 15.88 pence, 12-month range 13.00p-36.50p. In the six months to September 30, the retailer’s net revenue jumps 72% to £20.9 million. It also expects to report £100,000 in pretax profit, swinging from a £1.1 million loss a year earlier. ‘This performance, set against a challenging macroeconomic backdrop, illustrates that Sosandar has a proven, agile model and continues to execute successfully in line with its stated strategy,’ the company says. Joules Group PLC rises 10% in a positive read-across.
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Revolution Bars Group PLC, up 5.8% at 11.50 pence, 12-month range 9.80p-27.80p. The operator of 69 ‘premium bars’ says it is in the final stages of talks for an acquisition which would be classified as a ‘substantial transaction’, according to AIM rules. It has delayed its annual results as a result.
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AIM - LOSERS
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Bradda Head Lithium Ltd, down 11% at 7.70p, 12-month range 0.062p-9.00p. The company has seen a ‘reduction’ in its claims at parts of the Wikieup South lithium in clay asset in Arizona. It has been notified by the US Bureau of Land Management that claims ‘over portions of the Wikieup South claim block’ are not valid anymore. Mineral rights are owned by a third party and should not have been handed to Bradda back in July of last year. ‘With regards to the reduction of our claims at Wikieup, the permitting system in the US can be a complicated one and situations like we have at Wikieup South are not uncommon. This does not in any way effect the potential of what we believe is inherent at our Wikieup claims,’ Bradda says.
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