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(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday.
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AIM - WINNERS
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Gear4Music Holdings PLC, up 17% at 137.5 pence, 12-month range 101p-200p. The York, England-based online retailer of musical instruments and equipment has purchased stock from the administrators of GAK.co.uk Ltd and The Guitar, Amp & Keyboard Centre Ltd with a cost value of GBP1.8 million. Together with certain intangible assets including websites, trademarks, and commercial data, total consideration is around GBP600,000. Notes that it is not acquiring any part of GAK's trading business, nor any other assets or liabilities, and has no current plans to use the GAK trading name. Company also reports that "the marked improvement in UK and European like-for-like sales in the latter half of March has been sustained over the first two weeks of April, with a return to double-digit sales growth over the last 30 days providing the Board with further confidence in the outlook for the year ending [March 31]". Says it believes current market consensus for financial 2026 is for GBP153.8 million in revenue, GBP10.9 million in earnings before interest, tax, depreciation and amortisation, and GBP2.7 million in pretax profit.
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Oracle Power PLC, up 15% at 0.0265 pence, 12-month range 0.0118p-0.057p. The Australia and Pakistan-focused minerals and power projects developer says it has renewed a strategic memorandum of understanding with China Electric Power & Technology Co Ltd which was set to expire on March 2. The MoU is for work to potentially develop, finance, construct, operate and maintain Oracle Energy's Green Hydrogen Project in Thatta, Pakistan. Renewal covers an additional two years to March 1. CET is a wholly-owned subsidiary of State Grid Corporation of China. Oracle says the Green Hydrogen project development "includes the construction of a hybrid renewable energy production and storage facility, combining 800MW of solar and 500MW of wind power, and battery storage". Says the planned facility would if fully commissioned produce an estimated 150,000 kilograms of hydrogen per day (55,000 tonnes per year), and would be one of the largest such projects in Asia.
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AIM - LOSERS
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Strategic Minerals PLC, down 19% at 0.325p, 12-month range 0.136p-0.45p. The London-based miner with projects in South Australia, the US state of New Mexico, and the UK has raised gross proceeds of GBP1 million in an oversubscribed placing of 333.3 million new shares at 0.3p each. Says the placing price represents a discount of 25% to the closing price of 0.4p per share on Tuesday. Strategic Minerals intends to use the placing's net proceeds mainly to progress activities at its Redmoor tungsten, tin and copper project in Cornwall, England. Proceeds will also be used for working capital purposes. "We are delighted with the response from investors to the opportunity to accelerate development of a potentially world class, high-grade, polymetallic tungsten project right here in the UK," comments Chair Charles Manners. "The oversubscribed placing wholly supports the match grant funding from the UK government announced last week, delivering Strategic Minerals' shareholders over GBP1.5 million of exploration budget over the next 12 months, culminating in the formulation of an investment-ready business case and delivery plan for moving Redmoor toward prefeasibility." He adds: "Tungsten is essential in defence, electronics, and manufacturing industries and recent global events have underscored the importance of diversification of supply."
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By Emma Curzon, Alliance News reporter
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