AIM WINNERS & LOSERS: Christie cuts outlook; Ascent gets backing

Wed, 18th Sep 2024 10:55

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

----------

AIM - WINNERS

----------

Arkle Resources PLC, up 11% at 0.25 pence, 12-month range 0.18p-0.58p. The exploration firm says sampling is underway at its lithium brine licences in Botswana. In Zimbabwe, meanwhile, it says a prospecting programme will be completed at its hard rock ground. It expects this work to "confirm the presence of lepidolite, a lithium bearing ore".

----------

Ascent Resources PLC, up 5.9% at 1.80p, 12-month range 1.55p-4.18p. The oil and gas explorer, with a focus on European onshore projects, raises USD1 million through the issue of 33.2 million shares at 2.3p each. The issue price is a 43% premium to its closing price on Tuesday. The shares are issued to CB Energy VI LLC, an investment firm formed for the purpose of backing oil & gas and infrastructure assets.

----------

AIM - LOSERS

----------

Christie Group PLC, down 16% at 92.00p, 12-month range 66.00p-140.00p. The London-based provider of professional services for customers in hospitality, leisure, healthcare, medical, childcare and education and retail cuts its 2024 profit outlook. It now expects annual operating profit between GBP500,000 and GBP1.0 million. It expects to report a first-half loss of GBP600,000, narrowing from GBP1.4 million. "This first half operating loss is principally a result of weak invoicing in its International brokerage operations as previously announced and insufficient growth in its visitor attraction software business. H1 operating losses from its retail stocktaking operation are less than H1 2023," Christie says. "While some volatility has continued into H2 - the company has just received confirmation that a significant disposal mandate within our agency and advisory business, which had been expected to successfully conclude during Q3, has been aborted at an advanced stage and the vendor has no current plans to pursue a sale with an alternative buyer - transactional pipelines in both our UK and International agency businesses are, nonetheless, encouraging."

----------

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com