(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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Diurnal Group PLC, shares surge to 26.19 pence from Friday's close of 11.25p, 12-month range 9.5-67.9p. The pharmaceutical company focused on hormonal diseases agrees to be taken over by Neurocrine Biosciences Inc in deal worth GBP48.3 million. Neurocrine is offering 27.5p, cash, for each Diurnal share. Diurnal directors unanimously recommend deal. "We believe that the acquisition is compelling for Diurnal's shareholders given the risks associated with achieving Diurnal's vision of creating a profitable business, in particular the ongoing commercial roll out of Diurnal's products in Europe and the execution of key clinical studies, in addition to the substantial shareholder dilution that is likely to result from accessing the capital required to deliver this vision," says Non-Executive Chair Anders Harfstrand.
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SIMEC Atlantis Energy Ltd, up 31% at 2.03p, 12-month range 0.97p-5.3p. The sustainable energy generation firm secures necessary grid variations for the 230 megawatt/460 megawatt hour battery energy storage system at the Uskmouth site and has completed the novation of the grid connection agreement. "With excellent progress being made, the project is on track to be operational by 2024," it says. Adds it now has no loans outstanding with any SIMEC group company.
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MyCelx Technologies Corp, up 14% at 48.36p, 12-month range 30.55p-92.00p. The clean water and air technology firm secures new purchase order from SABIC Agri-Nutrients, a SABIC affiliate, to provide clean water for optimal performance in their fertiliser production process. Also wins short-term emergency response project with a independent petrochemical company in Saudi Arabia and secures renewal of two water treatment contracts with long-standing customers in the Middle East. "These projects underpin the 2022 revenue forecast, and the company remains on track to meet current guidance," it says.
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AIM - LOSERS
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Petroneft Resources PLC, down 28% at 0.645p, 12-month range 0.65p-4.88p. Reports temporary suspension of oil acceptance and transfer from Licence 61 by Nord Imperial LLC. In 2009, contract was signed with Nord Imperial to cover storage and transfer of oil by pipeline from Licence 61 to the Transneft Entry point at Zavyalovo. Petroneft says it has considered contract tariff to be "significantly higher than normal market rates" for some time. Says payments were made to Nord Imperial at reduced levels amid no progress in finding "more equitable" outcome and, in response, Nord Imperial has temporarily suspending the acceptance of oil and transfer. "As the company currently have no other export route from Licence 61, Petroneft is progressively shutting down its wells until the situation can be resolved," it says.
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Joules Group PLC, down 7.5% at 23.58p, 12-month range 19.41p-257.00p. Retailer insists it continues in "positive" discussions with Next over a possible investment, despite Sky News over the weekend reporting that talks had stalled. Sky News said it has learnt the two companies are not close to agreeing the terms of an investment from Next, and the FTSE 100-listed retailer had not received enough financial information to allow it to make a formal offer to the Joules board. There were also doubts that Next would want to proceed with a deal at 33p per share or more given Joules shares closed at 25.5p on Friday. The stock has fallen 82% since the start of 2022, and shares had closed at 33p the day before the companies confirmed they were in talks over the potential equity investment.
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By Lucy Heming; lucyheming@alliancenews.com
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Simec Atlantis (SAE)
Mycelx Di (MYX)