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AIM WINNERS & LOSERS: Safestyle plunges as seeks cash injection

Tue, 03rd Oct 2023 10:21

(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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Oxford BioDynamics PLC, up 17% at 40.30p, 12-month range 9.20p-42.00p. The biotechnology company receives a reimbursement code for EpiSwitch prostate screening test, which boosts the predictive accuracy of current standard PSA test from 55%, to 94% for determining the presence or absence of prostate cancer. The code comes from the American Medical Association, with payors able to bill for the test using the code from January 1. Shares hit this 12-month high on Tuesday.

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Renalytix PLC, up 16% at 72.5 pence, 12-month range 44.00p-155.00p. The kidney health-focused diagnostics company says the US Centers for Medicare & Medicaid Services prices the kidneyintelX.dkd test at USD950 each. When finalised in the fourth quarter of 2023, this pricing will be effective as of January 1 and maintained for a minimum of three years. Renalytix says the CMS action "affirms the value of the KidneyIntelX testing platform and importantly streamlines the pathway for maintaining and expanding health insurance coverage in the US". The company also believes it provides a "strong pricing basis" for international distribution agreements. 

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Aurrigo International PLC, up 14% at 167.50p, 12-month range 54.00p-174.00p. Aurrigo signs a formal partnership agreement with International Consolidated Airlines Group SA for the deployment and demonstration of Aurrigo's autonomous aviation solutions within the UK. Aurrigo says it expects the partnership to follow a similar phasing to its ongoing agreement with Changi Airport Group in Singapore. It expects the deal to lead to the deployment of a small fleet during the first half of 2025. The trial programme is valued at around GBP250,000. Coventry, England-based Aurrigo provides autonomous and semi-autonomous vehicle technology to the aviation, ground handling and cargo industries.

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AIM - LOSERS

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Safestyle UK PLC, down 45% at 2.40p, 12-month range 54.00-174.00p. The retailer and manufacturer of PVCu replacement windows and doors says it is working with shareholders and third party investors to secure a cash injection and is discussing ways to strengthen its balance sheet. As part of these discussions, Safestyle has engaged with "a number of third parties who have expressed interest in investing in the group." On Tuesday, Safestyle said the discussions have been "productive and remain ongoing."

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By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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Copyright 2024 Alliance News Ltd. All Rights Reserved. 

Read more
18 Dec 2023 11:43

IN BRIEF: Safestyle UK calls January 10 meeting to approve winding up

Safestyle UK PLC - Bradford, England-based retailer and manufacturer of PVCu replacement windows and doors - Calls extraordinary general meeting for January 10 to approve the winding up of the company and the appointment of Mark Russell Kelly and Louis Leonard Gerber of KPMG and David Standish of Interpath Advisory as joint liquidators. Also says Zeus Capital Ltd has resigned as Safestyle's nominated advisor and joint broker and Liberum Capital Ltd as its other joint broker. A nomad and a broker are requirements for a listing on the AIM market in London. Safestyle shares remain suspended from trading.

Read more
3 Nov 2023 09:43

IN BRIEF: Safestyle UK now a "cash shell", expects liquidation soon

Safestyle UK PLC - Bradford, England-based retailer and manufacturer of PVCu replacement windows and doors - Becomes AIM Rule 15 cash shell, having ceased to control and/or conduct substantially all business assets and activities upon appointment of administrators to subsidiaries HPAS Ltd, Style Group Holdings Ltd, and Style Group UK Ltd on Monday. Says directors will most likely be required to place company into liquidation in due course. Company is required to make an acquisition or acquisitions via reverse takeover, or seek to become an investment company, within six months from October 30 to lift share suspension. Safestyle is not currently pursuing such transactions. Expects admission to trading of its shares on AIM to therefore be cancelled once liquidators have been appointed.

Read more
3 Nov 2023 08:41

Safestyle 'likely' to enter liquidation

(Sharecast News) - Door and window fitting company Safestyle said on Friday that its directors would likely be required to place the group into liquidation.

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30 Oct 2023 19:16

TRADING UPDATES: Digital 9 dismisses call for strategic review

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

Read more
30 Oct 2023 15:56

TRADING UPDATES: Bezant optimistic after Hope & Gorob estimate

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

Read more
27 Oct 2023 11:14

Safestyle stock suspended, says return of shareholder value "unlikely"

(Alliance News) - Shares in troubled Safestyle UK PLC were suspended from trading on Friday and the company warned shareholders will be wiped out even if a sale of the company occurs.

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27 Oct 2023 07:54

SafeStyle suspended from trading as uncertainty grows

(Sharecast News) - Replacement window and door specialist SafeStyle UK confirmed the suspension of its shares from trading on Friday in an update on its efforts to secure its future.

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26 Oct 2023 17:00

LONDON MARKET CLOSE: Stocks firmly in red on ECB's Lagarde comments

(Alliance News) - Stock prices in London closed down on Thursday as investors reacted negatively to the European Central Bank's warning that it would be "totally premature" to discuss interest rate cuts.

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26 Oct 2023 14:16

Safestyle UK shares plummet amid financing woes

(Alliance News) - Safestyle UK PLC shares crashed on Thursday, after it said it does not expect to receive a capital injection or new financing.

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26 Oct 2023 12:08

LONDON MARKET MIDDAY: Stocks down ahead of US data and ECB decision

(Alliance News) - Stock prices in London were lower at midday Thursday, ahead of key data from the US, and a European Central Bank interest rate decision.

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26 Oct 2023 10:35

AIM WINNERS & LOSERS: Argentex plummets on CEO's sudden departure

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

Read more
26 Oct 2023 09:08

LONDON MARKET OPEN: StanChart falls on China hit; WPP cuts outlook

(Alliance News) - Stock prices in London were off to a shaky start on Thursday morning, as investors nervously look ahead to a key interest rate decision from the European Central Bank, as well as the US economic growth data.

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26 Oct 2023 08:20

Safestyle tumbles as hopes for capital injection, new financing fade

(Sharecast News) - Windows and doors retailer Safestyle warned on Thursday that it no longer expects to be in receipt of any form of capital injection or new financing, sending its shares sharply lower.

Read more
10 Oct 2023 19:22

Safestyle attracts interest as considers restructuring options

(Alliance News) - Safestyle UK PLC on Tuesday said it was considering a number of options which could include the sale of some subsidiary businesses.

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