(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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Evgen Pharma PLC, up 8.9% at 3.38 pence, 12-month range 2.83-7.80p. The clinical stage drug development company provides an update on the research partnership with Sapienza University of Rome, which has confirmed the radiosensitising effects of its lead asset SFX-01 in-vivo in Rhabdomyosarcoma, a rare type of cancer that forms in soft tissue and can develop in muscle, fat, blood vessels. SFX-01 was shown to be effective at reducing the growth of tumour masses given as a single agent dosed once daily orally.
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Eleco PLC, up 5.0% at 78.78 pence, 12-month range 62.00-85.00p. The specialist software provider acquires 100% of Buckinghamshire, England-based software-as-a-service business and provider of project portfolio management software BestOutcome Ltd for an initial GBP4.8 million. The acquisition will be financed by the company's internal cash resources. Eleco expects the acquisition to enhance both annualised recurring revenue and earnings in the second half of 2023 and beyond. Transaction includes a potential deferred consideration of GBP500,000 subject to performance targets being achieved by BestOutcome in 2023 and 2024.
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AIM - LOSERS
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Physiomics PLC, down 49% at 1.05 pence, 12-month range 1.05-6.60p. The mathematical modelling company completes a GBP335,000 fundraise from the issue of 33.5 million shares at 1 pence each. Will make a retail offer to raise up to another GBP150,000 from the sale of 15.0 million shares at the same price.
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Unbound Group PLC, down 27% at 2.00 pence, 12-month range 2.00-29.08p. Unbound is the parent company for a retail group selling a range of brands focused on the 55 plus demographic, including Hotter Shoes. It says it received no offer it considered capable of receiving shareholder and wider stakeholder support as part of its formal sales process, which began in May. Adds that there are no discussions ongoing with potential offerers. As a result, Unbound terminates its formal sales process. Strategic review continues regarding its main operating subsidiary. Says offers within this process continue to be received and reviewed; however, it says these offers may result in "little or no recovery of value" for shareholders. Unbound says it is assessing the feasibility of an equity fundraise of between GBP1.5 million and GBP2 million to support a formal restructuring plan. Adds that revenue continues to be hurt by liquidity constraints.
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By Heather Rydings, Alliance News senior economics reporter
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