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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Mirriad Advertising PLC, up 81% at 1.99 pence, 12-month range 0.8p-27p. The in-content advertising company announces a collaboration with Microsoft Corp. Mirriad says it has worked with Microsoft to build a new application programming interface. This is part of establishing a roadmap for "adopting Microsoft Azure and its AI capabilities for various use-cases". "The wide-ranging agreement with Microsoft can unlock significant benefits and opportunities for both parties as we continue to develop our technical capabilities and scale the creation and delivery of contextually relevant ad experiences in content," CEO Stephan Beringer explains.
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AIM - LOSERS
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Argos Resources Ltd, down 54% at 0.38p, 12-month range 0.35p-4.5p. The Falkland Islands-based exploration firm agrees to sell its PL001 production license interests in the North Falkland Basin to JHI Associates Inc. As a consideration for the assets, Argos will receive 8.5 million JHI shares along will GBP303,500 cash. Should the transaction be approved by shareholders, Argos's only asset would be the JHI shares. Consequently, it then would intend to wind up the company via a voluntary liquidation.
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Versarien PLC, down 39% at 1.25p, 1.18p-25.81p. The Cheltenham, England-based engineering materials company raises GBP531,624 before expenses in a placing of 42.5 million shares at 1.25p, a 39% discount to Tuesday's closing price of 2.06p. Will use proceeds as general operational and working capital, and for commercialisation activities. Continues to progress and assess asset disposal options, including mature businesses which are no longer core activities for the firm. Will update on its new strategic roadmap and financial plan "in the coming weeks". Versarien shares have come under pressure in 2023 so far, following the shock resignation of CEO Neill Ricketts back in March, and delays to product commercialisation. The stock is down 85% in the year-to-date.
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By Elizabeth Winter, Alliance News senior markets reporter
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