AIM WINNERS & LOSERS: Bidstack annual loss widens as costs climb

Tue, 20th Jun 2023 10:13

(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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Tekcapital PLC, up 5.0% at 13.65 pence, 12-month range 10.75p-37.80p. The intellectual property investment company says investee Innovative Eyewear Inc has landed a licensing agreement with New York-based brand development, marketing and entertainment platform, Authentic Brands Group LLC for a smart eyewear collection with sporting goods retailer Reebok International Ltd. Says the initial Reebok smart eyewear collection will launch in early 2024.

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AIM - LOSERS

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Capital Metals PLC, down 48% at 1.17p, 12-month range 1.14p-6.34p. The Sri Lanka-focused mineral sands company's stock falls as it launches a discounter placing. Plans to raise GBP500,000 via placing 50.0 million new shares at 1.0p each - a 43% discount to Monday's closing price of 1.75p. Will use funds to help resolve the license issues with the Geological Survey & Mines Bureau in Sri Lanka, and resume the development of the Eastern Minerals project. "Given our belief that the blockage arises from the actions of only a small number of bad actors, we are confident this can be achieved," says Chair Greg Martyr.

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Bidstack Group PLC, down 36% at 1.12p, 12-month range 1.05p-4.24p. The in-game advertising firm reports an increase in annual administrative costs which offset revenue growth for 2022. In 2022, its pretax loss widens to GBP8.8 million from GBP8.0 million a year prior. Revenue more than doubles to GBP5.3 million from GBP2.6 million. However, administrative costs jump 45% to GBP12.5 million. Looking ahead, the company expects its reseller network to "begin to contribute materially which is a cost-efficient approach to monetising our non-core markets," and touts the launch of an open market place in the second quarter of 2023.

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By Elizabeth Winter, Alliance News senior markets reporter

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