AIM WINNERS & LOSERS: Horizonte plunges on Araguaia funding blow

Mon, 15th Apr 2024 11:14

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

----------

AIM - WINNERS

----------

KRM22 PLC, up 47% at 27.98 pence, 12-month range 15.00p-45.76p. The technology and software investment company, with a focus on risk management for capital markets, wins a "major customer contract". The deal will see KRM22 provide its Limits Manager trading limits management technology offering to a "major futures commission merchant". The three-year pact is worth over GBP600,000.

----------

Invinity Energy Systems PLC, up 11% at 24.50 pence, 12-month range 21.00p-59.00p. The utility-grade energy storage manufacturer has made "significant" progress towards securing a material investment from multiple strategic partners. Invinity says discussions include a "tier 1 investor". If concluded, the company believes such an investment will "materially enhance" its business in the UK and internationally.

----------

AIM - LOSERS

----------

Horizonte Minerals PLC, down 79% at 0.50p, 12-month range 0.38p-172.00p. The company says it has been unable to secure the funds needed to complete the Araguaia nickel project in Brazil. "Horizonte must now consider alternative options for the company's subsidiaries in the interest of its secured creditors, which may include raising financing at the subsidiary level, a sale of the project whilst in care and maintenance, the liquidation of the assets of the project, or other options available under Brazilian laws. The company does not believe that any of these options are likely to recover any value for the company's shareholders," it warns.

----------

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com