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AIM WINNERS & LOSERS: Kibo invests in Eqtec project; Clinigen falls

Thu, 16th Sep 2021 10:55

(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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Galileo Resources PLC, up 20% at 1.32 pence, 12-month range 0.61p-2.80p. The miner, with projects in Botswana, Zambia and South Africa, says all conditions for licence sale agreement with ASX-listed Sandfire Resources Ltd have been met. Completion of deal set for September 22. The deal, first announced in January, will see Sandfire pay USD1.5 million in cash for nine Kalahari copper belt licences.

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Kibo Energy PLC, up 16% at 0.26 pence, 12-month range 0.16p-0.56p. The Africa- and UK-focused energy company will acquire just under a 55% stake in the proposed Billingham waste gasification and power plant in Teesside, UK. Fellow AIM listing Eqtec PLC will retain just under over a 45% stake. Kibo's initial funding contribution will amount to GBP3 million. Eqtec shares were 2.4% lower.

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AIM - LOSERS

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Clinigen Group PLC, down 9.7% at 632.14 pence, 12-month range 554.00p-891.79p. Staffordshire-based pharmaceuticals and services provider lowers its earnings before interest, tax, depreciation and amortisation growth outlook for the new financial year. It now expects Ebitda growth between 5% and 10%. Clinigen anticipates lower sales of the Erwinase cancer treatment. Double-digit growth was previously expected. In the year ended June 30, revenue rose 12% to GBP523.6 million from GBP466.7 million. Pretax profit more than doubled to GBP51.8 million from GBP23.2 million.

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By Eric Cunha; ericcunha@alliancenews.com

More News

1 Apr 2022 20:22

IN BRIEF: UK court sanctions Titon takeover of Clinigen

Clinigen Group PLC - Burton On Trent, Staffordshire-based pharmaceutical services - Says Thursday that its takeover by Triton Investment Management Ltd has been sanctioned by the High Court of Justice in England and Wales. Shares will be cancelled from trading on AIM on Tuesday.

23 Feb 2022 19:06

TRADING UPDATES: IPF swings to profit; Seraphine lowers outlook

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

23 Feb 2022 13:28

Clinigen revenue rises as shareholders approve its acquisition

(Sharecast News) - Pharmaceuticals and service company Clinigen Group reported a 10% improvement in net revenue from continuing operations in its half-year results on Wednesday, or 14% on an organic basis, to £238.1m.

16 Feb 2022 10:09

IN BRIEF: Clinigen expects acquisition by Triton to complete in April

Clinigen Group PLC - Burton On Trent, Staffordshire-based pharmaceutical services - Says its acquisition by funds managed by Triton Investment Management Ltd is likely to complete in early April, with its shares due to be cancelled on AIM on April 5. The deal and timeline are subject to antitrust and foreign investment approvals. Triton, a private equity firm submitted a cash offer of 925 pence per share, valuing Clinigen at GBP1.3 billion, which was approved by shareholders last Tuesday. The latest date for completion is September 8.

9 Feb 2022 10:38

IN BRIEF: Clinigen signs global distribution deal for Qinlock

8 Feb 2022 14:41

IN BRIEF: Clinigen shareholders approve takeover by Triton funds

17 Jan 2022 10:05

Triton increases takeover bid for Clinigen to GBP1.3 billion

17 Jan 2022 07:29

Triton makes 'increased and final' 925p bid for Clinigen

(Sharecast News) - Clinigen announced an increased and final all-cash offer from Triton of 925p per share on Monday.

12 Jan 2022 11:49

Clinigen reiterates guidance after 'solid' first half

(Sharecast News) - Pharmaceutical products and services company Clinigen reiterated its guidance for EBITDA growth in the 2022 financial year of between 5% and 10% in a trading update on Wednesday.

12 Jan 2022 11:13