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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Shanta Gold, up 13% at 17.00 pence, 21-month range 10.5p-20.5p. The East Africa-focused gold firm says visible gold identified in seven different intersections across eleven holes drilled at Isulu deposit. "The intersection of 219.5 grammes per tonne over 6 metres in hole 237 has a grade x width of over 1,300 grammes per tonne of gold, the highest to date on this metric at the West Kenya project," notes Chief Executive Eric Zurrin.
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Telit Communications PLC, up 11% at 224.00p, 12-month range 103.15p-225p. The internet-of-things firm agrees to be taken over by Trieste Acquisitions Holding Ltd in deal valuing Telit at GBP306.9 million. Telit shareholders will be entitled to receive 220p per share in cash, representing a premium of 59% to Telit's closing price on November 2, being the last business day before the previous offer period began, and 6.0% premium to closing price of 207.5p on March 17, the last business day before current offer period started. Trieste Acquisitions is owned by funds managed by DBAY Advisors Ltd.
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Webis Holdings PLC, up 10% at 4.35p, 12-month range 0.92p-6.79p. Says its advanced deposit wagering business, WatchandWager.com LLC, receives one-year licence approval from West Virginia Racing Commission. The license will be renewable annually, and allows WatchandWager to accept wagers from the state's nearly 1.8 million residents. "West Virginia is the home of Charlestown Races and Mountaineer Racetrack for Thoroughbreds, as well as Tri-State Mardi Gras and Wheeling Island greyhound tracks," firm notes.
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AIM - LOSERS
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Chariot Oil & Gas Ltd, down 26% at 5.52p, 12-month range 1.55p-14.4p. Conditionally raises gross proceeds of USD16.5 million through placing and subscription of 212.6 million shares at issue price of 5.5p each. In addition to this, company proposes to raise up to further USD5 million in an open offer. "With the net proceeds, Chariot intends to accelerate the timeline of the Anchois Gas Development coming online, with a near-term appraisal well now in sight and the launch of Chariot's Transitional Power division, following the acquisition of AEMP earlier in the year in partnership with Total Eren," says Acting Chief Executive Adonis Pouroulis.
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Hurricane Energy PLC, down 12% at 1.15p, 12-month range 0.59p-9.6p. The UK-based oil and gas company reports pretax loss of USD571.1 million for 2020, widening dramatically from USD1.8 million in 2019. Chunky loss due to impairment charges of USD567.1 million in respect of the Lancaster field and the company's exploration assets. Notes approval and implementation of proposed financial restructuring is outside of company's control, meaning there is "a material uncertainty" which may cast "significant doubt" over the company's ability to continue as a going concern. "As at the date of this report, more than 75% of bondholders (by value) had acceded to a lock-up agreement which incorporates general undertakings to support the proposed financial restructuring," it says.
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By Lucy Heming;Â lucyheming@alliancenews.com
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