(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Power Metal Resources PLC, up 11% at 0.075 pence, 12-month range 0.5p-1.5p. The North America, Africa, and Australia-focused metals explorer signs a memorandum of understanding with Saudi Arabia's Ministry of Industry & Mineral Resources. The MoU will explore possible joint efforts to identify and realise high value-added investment opportunities to exploit the kingdom's natural resources. "This MoU is indicative of our commitment to exploration in the kingdom, and it paves the way for us to explore exciting opportunities in one of the world's most resource-rich countries," CEO Sean Wade says.
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Premier Miton Group PLC, up 9.8% at 65.89p, 12-month range 48.1p-137.98p. The asset management firm says assets under management at December 31, the end of its first quarter, totalled GBP10.1 billion, up 3.1% from GBP9.8 billion at September 30. Net fund outflows for the quarter totalled approximately GBP200 million, including from sale of the Premier Miton Worldwide Opportunities Fund, with mandate transfer and fund disposal totalling around GBP100 million. Company also reports continued "relatively strong" investment performance with 75% of funds in first or second quartile of their sectors since launch or fund manager tenure.
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AIM - LOSERS
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UK Oil & Gas PLC, down 23% at 0.019 pence, 12-month range 0.019p-0.13p. The UK and Turkey-focused oil and gas exploration and production company raises GBP750,000 through the placing of around 3.8 million new shares at a price of 0.020p - a 20% discount to Thursday closing price of 0.025p. The company says it undertook the fundraise in response to the government's December announcement that it would be accelerating the first hydrogen storage allocation round, now brought forward to the third quarter of 2024 from the second half of 2025.
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By Elizabeth Winter, Alliance News deputy news editor
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Premier Miton (PMI)
Power Metal (POW)
Uk Oil & Gas (UKOG)