(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Kape Technologies PLC, up 12% at 290.41 pence, 12-month range 205.00p - 444.00p. Receives a takeover offer from majority shareholder Unikmind Holdings Ltd, which values the entire company at USD1.51 billion. Regardless of the outcome of the offer, Unikmind says it intends to call a general meeting to try to pass a resolution to delist Kape from trading on AIM in London "as soon as reasonably practicable following the offer." Unikmind, which owns about 55% of the digital privacy and security company, offers to pay USD3.44 per Kape share, or around 285 pence. Kape urges shareholders to take no action.
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Armadale Capital PLC, up 4.7% at 1.99 pence, 12-month range 1.36p - 4.69p. Makes further progress towards commercial production at its Mahenge Liandu project in Tanzania. The Africa-focused investor says it has collected environmental baseline data at the project and is assessing logistics routes for the product. Adds planning is underway for geotech drilling, due to commence in the dry season. Discussion are ongoing with the government of Tanzania regarding the framework for the 16% ownership. Also notes an "improved investment climate" which it says brings with it "increased potential to attract development funding" in Tanzania.
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AIM - LOSERS
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Mkango Resources Ltd, down 21% at 12.99 pence, 12-month range 9.81p - 29.00p. Raises GBP3.5 million through a placing and subscription of 28.0 million new shares at a price of 12.5 pence each. The placing price represents a 24% discount to Friday's closing price of 16.50 pence per shares. Mkango says it will spend the money on "catalysing near-term milestones for the company's mining and recycling assets". The mineral exploration and development company says this includes finalisation of the mine development agreement for the Songwe Hill rare earths project with the government of Malawi, as well as the development of a new rare earth magnet recycling facility in Germany by HyProMag GmbH.
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Tekmar Group PLC, down 15% at 13.25 pence, 12-month range 5.65p - 54.40p. The subsea cable protection provider says the due diligence process has concluded in regard to a proposal from an unnamed preferred partner, and the exclusivity period has been extended to March 31. The proposal being considered, Tekmar explains, represents a "strategic investment from a global institutional investor in the energy sector, which would provide funding for the company to follow an ambitious plan for growth, both organically and by acquisition". Adds that the proposal by the partner would not result in an offer being made for the entire company but would represent new capital investment. Says the exclusivity period relates only to alternate debt or equity financing proposals and does not prevent an offer being made for the company by a third party under its formal sale process.
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By Heather Rydings, Alliance News senior economics reporter
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Armadale Capital (ACP)
Mkango Res (MKA)
Tekmar Group P. (TGP)