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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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Journeo, up 27% at 72.30 pence, 12-month range 43.4p-75p. The transport technical services firm said it has secured a one-year extension to a framework agreement with First Bus UK. The extension will continue to March 2022, unless further extended, and is expected to generate GBP1.8 million in revenue.
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Proton Motor Power Systems, up 25% at 117.48p, 12-month range 23p-122.97p. The fuel cells company said it has received a third order from an unnamed "large international engineering and aerospace group" for four Proton Motor S8 fuel cell systems for the autonomous provision of energy and heat. The customer has indicated that there may be "further follow up orders" to come.
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Bowleven, up 22% at 4.95p, 12-month range 1.65p-6.68p. The Africa-focused oil and gas group said the operator of the Etinde licence, New Age, has received formal approval to apply for a new Etinde exploitation agreement. Bowleven holds a strategic equity interest in the offshore, shallow water Etinde permit in Cameroon. "This is very positive news for the Etinde development, as it essentially eliminates the possibility of the Government of Cameroon removing the Etinde licence from the JV partners, following the end of the initial six year development implementation period in January 2021," said Bowleven Chief Executive Eli Chahin.
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AFH Financial, up 14% at 455.00p, 12-month range 190p-455p. Cortina Bidco - a company indirectly controlled by funds managed by US-based investment firm Flexpoint Ford - has agreed to buy AFH for 463p per share. This is a premium of 40% to AFH's closing price on December 1, being the day before Flexpoint entered into a confidentiality agreement with AFH. The deal values AFH as a whole at GBP224.5 million. "The independent directors believe that the terms of the acquisition are compelling, acknowledge the quality and strong prospects of AFH's business and deliver attractive value to AFH Shareholders in cash, allowing them to crystallise the value of their holdings," said AFH Chair John Wheatley.
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ASOS, up 5.4% at 5,047.74p, 12-month range 975.2p-5,548p. The online fashion retailer confirmed it is in exclusive discussions with Arcadia's administrators over the acquisition of the Topshop, Topman, Miss Selfridge and HIIT brands. "The board believes this would represent a compelling opportunity to acquire strong brands that resonate well with its customer base. However, at this stage, there can be no certainty of a transaction and ASOS will keep shareholders updated as appropriate," the company said.
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boohoo, up 4.2% at 346.88, 12-month range 133.1p-433.5p. The online fast fashion firm said it is has acquired all of the intellectual property assets of department store Debenhams Retail for GBP55 million in cash. The company will only be acquiring brands and associated intellectual property rights, and the deal does not include Debenhams retail stores, stock, or any financial services. boohoo said it will use the transaction to move into new categories including beauty, sport and homeware.
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AIM - LOSERS
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Asiamet Resources, down 33% at 2.4p, 12-month range 0.73p-6.7p. The Indonesia-focused copper and gold miner said the binding sale and purchase agreement entered into with PT WIN to sell subsidiary Indokal has been terminated. The first tranche payment of USD2.5 million was not transacted by PT WIN within the agreed timeframe of 10 business days following the signing of the deal and a subsequent extension period. "The company used best endeavours to ensure this payment was made, however this was not complied with and no reasonable explanation was provided other than a request for further changes to the terms of the binding SPA which were considered to be unacceptable and detrimental to the best interests of the company," said Asiamet.
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By Lucy Heming;Â lucyheming@alliancenews.com
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