(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Barkby Group PLC, more than double at 6.77 pence, 12-month range 2.30p-11.38p. The investor in roadside property and in consumer and life sciences companies says its subsidiary Cambridge Sleep Sciences is in advanced negotiations with "several household names" for multi-year enterprise licensing deals for its SleepEngine technology. At the same time, Barkby said it is considering options to sell CSS. "We expect CSS to become a significant business in its own right and the purpose of the strategic review is to evaluate the most appropriate corporate setting and structure for the company to allow it to develop its full potential as well as what is in the best interests of Barkby's shareholders," Barkby Executive Chair Charles Dickson says. There can be no certainty that an offer or sale will be made for CSS, the company adds.
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AIM - LOSERS
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Sportech PLC, down 48% at 50.55p, 12-month range 12.00p-183.00p. The US-focused gambling operator says it wants to de-list from the AIM market in London, citing "significant burdens", both financial and non-financial, of maintaining a public listing. Also reports half-year results. Pretax loss from continuing operations in the six months that ended June 30 was GBP304,000, narrowing from GBP802,000 a year before, as revenue rose by 7.7% to GBP13.5 million from GBP12.6 million. Sportech credits a focus on margins for the narrowed loss. Adjusted earnings before interest, tax, depreciation and amortisation rises to GBP900,000 from GBP400,000. "Despite delivering improving operational results announced today, the substantial financial cost associated with maintaining a public listing, given our current scale, and the increasing volatility in the market valuation is adversely impacting net returns and future prospects," Executive Chair Richard McGuire explains.
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Active Energy Group PLC, down 10% at 4.99p, 12-month range 3.80p-7.50p. The biomass-focused renewable energy company says its CoalSwitch manufacturing facility in Ashland, Maine, will not be completed by the end of the third quarter of 2023. Active Energy says operations at the facility are now expected to begin in November, as well as the production of the biomass fuel, CoalSwitch. The hold-up is due to a delay in the receipt of "key components and associated equipment", Active Energy says. CEO Michael Rowan adds: "The delay in completion of the Ashland Facility is obviously disappointing news for the CoalSwitch program."
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By Sophie Rose, Alliance News reporter
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