(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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Brave Bison Group PLC, up 16% at 1.76 pence, 12-month range 1,35p-2.6p. The digital advertising and technology services company confirms around GBP4 million in new contract wins and renewals. Says the successful onboarding of two new customers as well as a 24-month extension with an existing customer provide "further certainty" it will meet the current market expectations for GBP3.1 million in annual adjusted pretax profit, which would be up from GBP2.6 million in 2022. "Trading conditions have improved noticeably since the lull in Q2, and we are pleased to see Brave Bison's differentiated proposition attracting the right kind of customer," says Chair Oliver Green.
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Saietta Group PLC, up 15% at 22.67p, 12-month range 16p-86p. The designer, engineer and manufacturer of 'eDrive' solutions for electric vehicles says its 49.5%-owned Indian joint venture receives order for complete eDrives from its unnamed "lead Indian client", a global original equipment manufacturers producing light commercial vehicles in the Indian market. Says initial purchase is worth GBP106,000 for pilot production in the next three months. However, the contract is expected to generate revenue of around GBP12.7 million in the first year of production, given the target volumes indicated by the client. "This is the second order secured by our Indian JV in quick succession from the same mainstream Indian lightweight vehicle manufacturer which demonstrates the success of our technical collaboration," says Executive Chair Tony Gott.
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AIM - LOSERS
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Amte Power PLC, down 23% at 0.52p, 12-month range 0.38p-78p. Late Friday, the lithium-ion and sodium-ion battery cells developer and manufacturer warned of potentially entering administration or insolvency, should its finance discussions not conclude positively. Amte said it made "good progress" in negotiations with an unnamed equity investor over a proposed GBP2.5 million subscription, and is also conducting due diligence on the investor. Amte Power said it now has sufficient cash until the week commencing November 27. However, this, on its own, will not be sufficient to finance the company in satisfying the conditions for completing the proposed subscription. It is currently in discussions with equity providers and other interested parties to provide it with sufficient bridging finance through to completion, anticipating it will make a further announcement early this week.
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By Elizabeth Winter, Alliance News senior markets reporter
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Brave Bison (BBSN)