(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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Argos Resources Ltd, up 28% at 2.50 pence, 12-month range 0.68p-3.50p. Falkland Islands government extends the second term of the company's PL001 licence from May 1 to December 31 with no additional work commitments.
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Quadrise Fuels International PLC, up 12% at 2.19p, 12-month range 1.52p-6.35p. Signs phased commercial development agreement with Utah-headquartered Valkor Technologies LLC to commercialise Quadrise's MSAR and bioMSAR technology at Valkor's projects. Valkor will deliver a crude oil sample from a heavy oil asset in Utah to Quadrise. Quadrise will then perform analysis and testing on the sample to confirm that it is suitable to produce MSAR and bioMSAR. Quadrise intends to grant Valkor exclusive terms over the deployment of QFI technology in Utah.
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Poolbeg Pharma PLC, up 7.0% at 6.37p, 12-month range 5.10p-12.90p. Notes "number" of new investors expressing interest in acquiring up to GBP1.6 million of company's shares which are currently locked-up and held in trust by Croft Nominees Ltd as a result of the distribution in specie from Open Orphan PLC in June last year. New investors have committed to buy up to GBP1.6 million of the distribution in specie shares on or around April 26 at 5.9p per share. "There is strong demand from these new investors in acquiring shares in the company, with the largest individual investor being an experienced life science investor. This is a clear vote of confidence in the company's prospects as it enters an extremely exciting phase of its development with its first human challenge clinical trial due to commence in June 2022 with multiple value inflection points expected in 2022 and beyond," company explains.
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AIM - LOSERS
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Mothercare PLC, down 3.2% at 10.50 pence, 12-month range 10.10p-19.35p. Will not be making first instalment of the deficit repayment contributions due for its pension schemes due to reduced cash generation as a result of suspending its Russian business. "The Trustees have responded and the discussions have commenced with the provision of forecasts and information to the Trustees and their advisors," company says. In better news, sees earnings for financial 2022 ahead of the current market expectations, although business has been hit by the pandemic. For year ended March 26, guides for net worldwide sales of GBP385 million. Adjusted Ebitda to be between GBP11.5 million and GBP12 million. Looking ahead, has completely excluded Russia from its forecasts given the uncertainty around the reopening of the stores in the country. Guides for GBP6 million hit from Russia war.
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By Paul McGowan; paulmcgowan@alliancenews.com
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Poolbeg Pharma (POLB)
Mothercare (MTC)