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(Alliance News) - 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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Immotion Group PLC, up 54% at 3.39 pence, 12-month range 1.89p-5.50p. The Manchester, England-based virtual reality entertainment company signs new three-year framework agreement with Merlin Entertainment Group Ltd, covering the 26 sites at which Immotion has already installed or agreed to install a VR attraction. Also, Immotion says it has sold its Location Based Entertainment business for USD25.2 million. LBE is collectively Immotion Studios Ltd, Immotion VR Ltd and C.2K Entertainment Inc. With the focus of the company shifting to Home-Based Entertainment as a result, Immotion plans to change its name to Let's Explore Media Group PLC.
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Xpediator PLC, up 6.1% at 40.33p, 12-month range 18.26p-65.00p. The freight management services provider estimates revenue for 2022 to be just short of GBP400 million, up from GBP247 million in 2021. Pretax profit is expected to be "significantly ahead" of management guidance of GBP9.0 million. "The strength of the trading position stems from another excellent performance from the freight forwarding operations in Lithuania and other countries across the CEE region, in particular in Bulgaria and Romania, in the closing months of 2022. In the UK, the financial performance of Delamode Anglia also improved in the latter months of the year," Xpediator says.
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AIM - LOSERS
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88 Energy Ltd, down 7.6% at 0.61p, 12-month range 0.40p-2.82p. The Alaska-focused oil explorer plans to raise up to AUD12.0 million, about GBP6.8 million, via a placing. Says it also has the ability to accept over-subscriptions to increase the total amount raised to up to AUD15.0 million. The shares are priced at AUD0.0095, which represents a 21% discount to the shares closing priced on the Australian Securities Exchange on Wednesday, being the last business day before this announcement. The company says the proceeds will be used to fund the planned Hickory-1 well at Project Phoenix, payment for the new Project Leonis acreage, and finance potential portfolio expansion/new ventures.
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By Sophie Rose, Alliance News reporter
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