(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Fulham Shore PLC, up 33% at 13.94 pence, 12-month range 9p-18p. The Franco Manca and The Real Greek owner soars, after it agrees to a GBP93.4 million takeover. Tokyo-listed food company Toridoll Holdings will pay 14.15 pence per share, a 35% premium to Fulham Shore's Tuesday closing price. Restaurant sector-focused private equity fund Capdesia will also be involved in the deal. Toridoll's stake will eventually reduce to no less than 51%. Fulham Shore Executive Chair David Page said: "We are proud of the significant progress that Fulham Shore has made since it was founded in 2012. We are proud of our two brands, Franco Manca and The Real Greek, and the growth we have delivered for Fulham Shore. Whilst we remain excited about the prospects for the business on a standalone basis, we have been in discussions with both Toridoll and Capdesia and received a proposal that we believe is compelling for all of our stakeholders."
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Northern Bear PLC, up 29% at 47.82 pence, 12-month range 35.30p-66.95p. says that it will pursue a divided growth strategy. It intends on declaring a dividend of 4p per share and a special dividend of 1p per share for financial year 2023. Also, the company expects operating profit for the financial year, stated before amortisation, one-off costs, and other adjustments, to be over GBP2.8 million. The company plans to release its financial year 2023 results in the week commencing July 17. "We are pleased to announce strong expected operating results for FY23 and are excited to implement our dividend growth strategy. We look forward to further engaging with shareholders and the wider investment community to inform them about the group," says Non-Executive Chair Jeff Baryshnik.
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AIM - LOSERS
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Drumz PLC, down 16% at 0.56p, 12-month range 0.48p-1.20p. Says it has agreed to buy Acuity Risk Management Ltd, a supplier of governance, risk, compliance software and services. Drumz currently owns 25% of the issued share capital of ARM. Says it will buy ARM for about GBP3.6 million, with the consideration to be satisfied by the payment of GBP500,000 in cash and issue of 45.7 million shares, valued at GBP3.1 million. The acquisition will constitute a reverse takeover. Chief Executive Officer Angus Forrest says: "Over the past two and a half years we have worked closely with the Acuity team. Since we invested the business has taken greater control of its activities particularly sales and marketing resulting in consistent growth and improvement in the key performance indicators."
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By Sophie Rose, Alliance News reporter
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Northern Bear (NTBR)