(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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Ariana Resources PLC, up 11% at 2.8p, 12-month range 2.45p-4.63p. The mineral exploration and development company with gold mining interests in Europe updates on Venus Minerals Ltd's plans to float in London. Ariana says its stake in Venus will increase to 58% after the conversion of an existing loan of GBP500,000 and an additional loan of GBP200,000. Says Venus portfolio has several drill-ready targets, including the Margi Prospect and Troulli Prospect at the Mariner project in eastern Cyprus.
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AIM - LOSERS
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In The Style Group PLC, down 77% at 1.6p, 12-month range 1.3p-98p. The digital fashion brand completes its strategic review, and conditionally agrees to sell its only operating subsidiary, In The Style Fashion Ltd, for GBP1.2 million cash. The offer for its subsidiary came from Baaj Capital, a UK-based private family office. The company will now change its name to Itsum PLC, and become a cash shell. The firm also wants to cancel its shares on AIM after the completion of the sale. Shareholders will be able to vote on all this at a general meeting to be called by the company.
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Calnex Solutions PLC, down 34% at 112.16p, 12-month range 112p-197p. The test and measurement solutions provider for the global telecommunications sector warns some of its customers are taking a "cautious approach" to investment decisions, due to the macroenvironment. Says telecoms sector is slowing, with demand softening. Believes financial performance in financial 2024 will be behind financial 2023, with revenue to be weighted towards the second half. More positively, says results in the year to March 31 will be in line with market expectations, with double-digit growth in profit and revenue.
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By Elizabeth Winter, Alliance News senior markets reporter
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Calnex Solutio. (CLX)
Ariana (AAU)