(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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Yourgene Health PLC, more than doubled to 0.47 pence from 0.20p at Friday's market close, 12-month range 0.12p-8.00p. Shares in the medical diagnostics company rocket as it agrees to a takeover offer from Novacyt SA at 0.522 pence per share in cash. The deal values Yourgene's equity at GBP16.7 million. The companies say the acquisition "strongly aligns" with Novacyt's post-Covid strategy, which included pursuing strategic mergers and acquisitions to support its long-term growth and prioritised the twin objectives of geographic expansion and portfolio development. Shares in Novacyt, a fellow AIM listing, jump 24%.
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Verici Dx PLC, up 11% at 13.0p, 12-month range 4.53p-19p. The Cardiff, Wales-based developer of clinical diagnostics for organ transplants receives successful results from its clinical study of Clarava that demonstrate it as a test capable of informing a clear, actionable response from clinicians. Clarava is the company's pre-transplant prognostic test to allow measurement of a patient's immune response to assess the risk of early kidney graft rejection, which could assist an estimated 65,000 patients. Verici Dx says it is on track to launch Clarava commercially in the US before the end of 2023.
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AIM - LOSERS
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Zanaga Iron Ore Co Ltd, down 22% at 9.75p, 12-month range 1.7p-18.9p. The iron explorer focused on the Republic of the Congo enters into an equity subscription agreement with institutional investor Shard Merchant Capital Ltd. Zanaga will issue up to 36 million shares in up to three tranches of 12 million each. At the current price, the shares will be worth GBP3.7 million in total. Also on Monday, Zanaga reports it swung to a pretax profit in 2022 of USD8.1 million from a loss of USD1.9 million the year before. It generated no revenue, unchanged from a year prior, but reports a USD9.1 million gain on the revaluation of investment.
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Kibo Energy PLC, down 12% at 0.05p, 12-month range 0.05p-0.22p. The energy projects in Africa and UK says all funding activities, including the company's proposed AIM-listed vehicle Ultimate Sustainable Energy, have been placed on hold due to delays as a result of "difficulties" at its extraordinary general meeting. Early last month, Kibo reported that five of a total of eight resolutions failed to reach the minimum threshold of 75% of the vote at an EGM. These include equity securities allotment, amendment of the Memorandum of Association and amendment of the Articles of Association. It said back then that 35% of shareholders voted against these resolutions. On Thursday last week, Kibo said it sought funding to address a liquidity crunch. It said liquidity constraints resulted from the "significant" capital required to develop its projects.
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By Elizabeth Winter, Alliance News senior markets reporter
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Kibo Energy (KIBO)
Zanaga Iron (ZIOC)
Verici Dx (VRCI)