The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Amur Minerals Corp, up 57% at 1.58 pence, 12-month range 0.6p-3.28p. The natural resources explorer completes the $35 million disposal of 100% of its interest in AO Kun-Manie, to Bering Minerals. Kun-Manie is a wholly-owned subsidiary of Irosta, which is Amur’s wholly-owned subsidiary. Will pay out a special dividend of 1.8p within 90 days of receipt of the sale funds. Back in November, Amur said it faced delays to the sale, due to restrictions on transferring funds to Russia. ‘We are pleased to have achieved the sale of Kun-Manie which will enable the company to move forward in a new direction, which we envision will result in shareholders seeing real value,’ says CEO Robin Young.
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Plexus Holdings PLC, up 40% at 4p, 12-month range 1.6p-6.2p. The engineering services provider secures an order for its wellhead equipment and sealing technology for a specialised project application. Under the £5 million contract, its Pos-Grip HG equipment and technology will be deployed over the next 12 months. About £2.5 million will be received via milestone payments in the current financial year ending June 30, with the remainder to be recognised as sales revenue in financial 2024. CEO Been van Bilderbeek says the contract ‘significantly increases the visibility of [the firm’s] future revenue and cash flow projections, and Plexus’ reputation as a ’can do‘ surface or subsea equipment solutions provider.
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AIM - LOSERS
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Fusion Antibodies PLC, down 33% at 32p, 12-month range 30p-110p. The antibody developer says revenue and earnings for the year ending March 31 are expected to be ’significantly‘ behind market expectations, with revenue to be no less than £2.8 million. This is due to continuing uncertainty over the timing of several anticipated orders, which is outside the firm’s control. As Fusion shifts its focus on larger integrated service contracts, it notes ’very positively received‘ discussions with several potential clients.
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