(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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Cordel Group PLC, up 28% at 8.30 pence, 12-month range 4.00p-11.00p. The provider of artificial intelligence work for transport corridor analytics strikes a contract in the US with intercity passenger rail service operator Amtrak. The USD6.7 million deal will see Cordel supply a "fully automated software suite for survey and clearance management". The pact has an 18-month configuration and reporting phase, and a five-year software-as-a-service phase.
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Purplebricks Group PLC, up 8.7% at 7.50 pence, 12-month range 6.51p-30.50p. The online estate agent, fresh from launching a formal sale process earlier this month, confirms it has been in talks with Strike Ltd over their potential participation in the process. However, it says Strike "is not participating in the formal sale process" currently. "There can be no certainty as to whether Strike will make an offer for Purplebricks, nor the terms of any such offer," it adds. Like Purplebricks, Strike is an online estate agent.
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Reabold Resources PLC, up 6.4% at 0.20 pence, 12-month range 0.17p-0.54p. The company says it received a takeover proposal from a Kamran Sattar on behalf of Portillion SPV O&G, which it believes to be an affiliate of Portillion Capital Ltd, a financial advisory firm. Sattar is chief executive of Portillion Capital. Reabold says the proposal came through e-mail and offered little other details besides an offer price which is a 10% premium to company's 0.18p closing price on Tuesday. This would imply a bid price of 0.2035p per share, Reabold says, valuing the company at GBP18.7 million. Reabold says: "Even in the absence of further information, the board believes that the possible offer price significantly undervalues Reabold's investment portfolio, the company as a whole, and its future prospects. Shareholders are advised to take no action in respect of the possible offer at this stage."
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AIM - LOSERS
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Tremor International Ltd, down 8.8% at 239.80p, 12-month range 220.20p-642.00p. The advertising technology company says it is not currently in a sale process, though it confirms it is in discussions with Goldman Sachs as an ongoing financial adviser. "From time to time, the company receives inquiries, and the board evaluates such inquiries, as applicable, together with its financial advisor. The board continues to believe in the stand-alone prospects of the business, and also recognizes its fiduciary duties to its shareholders," Tremor says. On Tuesday, Sky News reported Tremor received a number of enquiries from possible bidders.
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By Eric Cunha, Alliance News news editor
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