Source - Alliance News

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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Scirocco Energy PLC, up 70% at 0.64 pence, 12-month range 0.18p-0.70p. The investing company targeting assets within the European sustainable energy and circular economy markets completes the divestment of its stake in Ruvuma petroleum sharing contract in south-east Tanzania. The transaction is with ARA Petroleum Tanzania. Receives balance of completion payment consideration of $2.54 million, with cash call loan facility provided by APT fully settled by completion, leaving Scirocco with no ongoing associated liabilities. ‘This is a transformative divestment for Scirocco and we are delighted to have reached this watershed moment for the company,’ says CEO Tom Reynolds.

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Helium One Global Ltd, up 13% at 5.6p, 12-month range 3.9p-10.3p. The Tanzania-focused helium explorer successfully recommences drilling on the Tai-3 well. This follows the installation of the replacement part in the main rig on Friday, with drilling recommencing on Sunday. ‘All third-party services have remained onsite and were ready to immediately resume operational activities and minimise any further delays. The wireline tools have also been fully tested and are ready to run in the hole once the [planned total depth] has been reached,’ the firm says.

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Surface Transforms PLC, up 11% at 27.39p, 12-month range 24p-44p. The carbon-ceramic automotive brake disc manufacturer says it is selected as a tier one supplier for an existing customer, previously described as OEM 10, ‘one of the world’s largest automotive [original equipment manufacturers]’. The firm will be the sole supplier for carbon ceramic brake discs on both axles of a new range of electric vehicles with common axles. The lifetime revenue of the range of models is expected to exceed £100 million, with series production planned for seven years, it says.

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AIM - LOSERS

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Crossword Cybersecurity PLC, down 8.6% at 8p, 12-month range 6p-21.6p. The cybersecurity solutions provider enters agreements for five-year, unsecured, convertible loans worth £230,000. Says it has now used £2.245 million of the £2.5 million additional debt authorised at the general meeting in July, and plans to use the full allowance. Will use the £230,000 to provide additional working capital. The conversion price for the loans will be 8.75p.

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