(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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Vela Technologies PLC, up 12% at 0.019 pence, 12-month range 0.01p-0.04p. The early stage-focus technology investor says its gross asset value rose 8.3% in the quarter that ended December 31 to GBP6.9 million. Says this mostly reflects a rise in the quoted price of EnSilica PLC during the period. "We have taken the opportunity to crystallise some of this appreciation by selling about one third of our investment in EnSilica. As a result Vela's cash resources have been replenished, thus putting the company in a position where it can take advantage of promising investment opportunities that continue to be shown to us," says Executive Director James Normand. Fellow AIM listing EnSilica was up 1.4% on Friday; the stock is up 72% over the past 12 months.
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Reabold Resources PLC, up 6.6% at 0.23p, 12-month range 0.17p-0.54p. The oil and gas company with projects in the UK, US and Romania receives its share of GBP10 million, around GBP3.2 million, from the sale of its investee company Corallian Energy Ltd to Shell UK Ltd, part of Shell PLC. The balance of the total GBP22 million payment, with GBP9.5 million to be received by Reabold, is expected to be paid during 2023. In November, Reabold said it will use proceeds of the sale to advance the development of its existing assets, such as drilling at a key horizontal well at West Newton near Hull in England. It also said it intends to distribute some of the sale proceeds to shareholders upon receipt of the second tranche of funds from shell. It called a general meeting for February 28 to approve the mechanism to do this.
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AIM - LOSERS
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Itim Group PLC, down 28% at 35.97p, 12-month range 35p-132.75p. The London-based click-and-collect software firm warns its annual earnings before interest, tax, depreciation and amortisation are expected to be GBP200,000, down from GBP2.2 million. This is around GBP200,000 lower than market consensus. "The board adopted a strategy that most [software-as-a-service] businesses use, which is to finance projects ourselves to drive growth by offering to do the transition onto our platform at no cost. Consequently, the group increased its cost base to allow for this," itim explains. More positively, revenue is likely to come in line with market consensus, Itim says, at around GBP14.0 million, rising from GBP13.5 million.
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Scotgold Resources Ltd, down 27% at 42.23p, 12-month change 39p-87p. The Scotland-focused gold explorer and producer raises GBP2.5 million through capital raise and subscriptions from directors. The issue price of 40p was a 34% discount to Thursday's closing price of 61p. The funds will be used to progress is 2023 mine plan and deliver full-phase production of around 2,000 ounces of gold per month.
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By Elizabeth Winter, Alliance News senior markets reporter
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Itim Grou (ITIM)
Vela Technologies (VELA)
Ensilica (ENSI)
Reabold Resources (RBD)
Shell (SHEL)