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AIM WINNERS & LOSERS: Lok'n Store up on takeover offer from Shurgard

Thu, 11th Apr 2024 09:27

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

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AIM - WINNERS

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Lok'n Store Group PLC, up 17% at 1,125.10 pence, 12-month range 621.90p-1,135.00p. Brussels-based Shurgard, the largest developer, owner and operator of self-storage facilities in Europe, says it has agreed to buy the self storage provider for GBP378 million. Under the agreement, Lok'n Store shareholders will receive 1,110 pence in cash per share. This represents a 6% premium to the closing price of 958p on Wednesday. Chair Andrew Jacobs says: "Lok'nStore's board believes the offer represents significant value for Lok'nStore's shareholders, recognising the quality of Lok'nStore's real estate portfolio and operational strength. Over the years Lok'nStore has built a unique portfolio of purpose-built self-storage assets. We believe that integrating Lok'nStore's assets and operations into Shurgard is highly complementary considering Lok'nStore's asset locations and positioning in its markets."

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Revolution Bars Group PLC, up 24% at 1.45p, 12-month range 1.00p-8.30p. Revolution Bars shares rise after being restored to trading on AIM on Thursday after publishing results. On Wednesday, Revolutioin published its interim results for the 26 weeks that ended December 30. It reported a pretax profit of GBP3.1 million, swinging from a pretax loss of GBP91,000 the year prior. Sales climbed to GBP82.3 million from GBP76.0 million. "Despite a strong festive trading period, the macroeconomic trading environment continued to provide a challenging trading environment," Revolution Bars said. The Manchester-based bar group, which operates the brands Revolution and Revolucion de Cuba, also said it plans to raise GBP10.5 million via a firm placing and subscription at 1 pence per share and GBP2.0 million via a placing & open offer at the same price.

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AIM - LOSERS

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Mkango Resources Ltd, down 9.6% at 6.10p, 12-month range 5.18p-13.17p. The exploration and development company closes GBP750,000 private placement of 15.0 million new shares priced at 5p each. The proceeds will be used to purchase long-lead-time equipment in Germany and acquire additional equipment for its Tyseley Energy Park recycling facility in Birmingham, UK. Mkango adds that discussions are ongoing with potential strategic investors, project finance providers, grant funding bodies and other sources to finance recycling scale-up opportunities and further technology roll-out.

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By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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