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(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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Itsarm PLC, nearly quadrupled at 0.79 pence after closing at 0.20p on Friday, 12-month range 0.15-44.33p. Enters into conditional agreements which form a proposal that gives the company a "viable alternative" to the proposed compulsory liquidation announced back in June. Itsarm - formerly In The Style Group PLC - has been a cash shell since March after selling its only operating subsidiary In The Style Fashion Ltd for GBP1.2 million. In The Style was a Manchester-based digital fashion brand sold to Baaj Capital, a private family office. The new proposal allows for Itsarm to continue as a solvent company conditional on the winding-up petition being withdrawn and/or dismissed at the scheduled court hearing on Wednesday. Subject to the withdrawal, certain directors intend to enter into an acquisition or acquisitions which would constitute a reverse takeover. If the company is unable to enter into a transaction which qualifies as a reverse takeover by September 27, the company's shares will be suspended from trading on AIM.
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Mind Gym PLC, up 12% at 47.97 pence, 12-month range 42.00-120.00p. Co-Founder & President Sebastian Bailey buys 825,000 shares at a price of 35.07p each for a total of GBP289,328 last week. Following this transaction, Bailey holds 10.3 million shares in the company, representing 10% stake. Mind Gym is a London-based personal and business coaching service.
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AIM - LOSERS
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Haydale Graphene Industries PLC, down 4.4% at 1.10 pence, 12-month range 0.86-5.15p. Announces its next collaboration with Cadent Ltd to develop graphene ink-based low-power radiator heaters. The GBP350,000 three-stage project will run for 12 months and aims to develop a tested and validated market-ready product as a cost-effective alternative for Cadent's customers when their gas supply is interrupted. Haydale will provide its time and expertise and work with Cadent to develop the concept, product specification and design that will integrate with Haydale's printed graphene heater panels to create a tested and validated solution. Haydale Graphene is a Carmarthenshire, Wales-based technology solutions company, while Cadent Gas is a Coventry, England-based regional gas distribution company.
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Ariana Resources PLC, down 4.3% at 2.25 pence, 12-month range 2.05-3.78p. The Europe-focused mineral explorer and developer announces positive results from an airborne magnetic survey and the start of drilling at the Kizilcukur project. Kizilcukur is part of Zenit Madencilik San ve Tic AS, a partnership with Proccea Construction Co and Ozaltin Holding AS. Ariana holds 24% of the project. "Following the completion of the data processing and analysis of our recent airborne magnetic survey, the receipt of forestry permits over several target areas, and the detailed multi-sensor scanning of about 2,500 metres of historical drill core, we are commencing a new resource drilling campaign at the Kizilcukur project. Up to 3,000 metres of drilling has been planned and the programme will be managed jointly by the Ariana and Zenit teams...Ultimately, we expect to define a high-grade reserve at this satellite project capable of being mined by open-pit methods and then trucked to the Kiziltepe processing plant," explains Managing Director Kerim Sener.
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By Heather Rydings, Alliance News senior economics reporter
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