The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Tavistock Investments PLC, up 9.0% at 3.87 pence, 12-month range 2.00p-6.00p. The financial advice and investment management provider says it has ‘a substantial level of funding’ to refocus its activities following two disposals. The sale of Tavistock Partners Ltd and Tavistock Estate Planning Services Ltd to Saltus Partnership Holdings LLP have been completed. It will net £22 million by early December. The disposals are worth £37.8 million in total, about double Tavistock’s own £19.9 million market value as of Thursday’s close, Tavistock notes. The firm also announces a deal to acquire Alpha Beta Partners, a ‘well-regarded asset management business based in London and Bath’. ABP has around £3 billion of assets under management. Tavistock will pay an initial £6.0 million with a maximum potential consideration capped at £18 million and is payable in cash. On its future, Tavistock says: ‘The company has retained both its profitable, employed adviser business, Tavistock Private Client, and its profitable protection business, Tavistock Protect. The board intends that the provision of investment management services to the clients of third-party advice businesses, and directly to the public on a non-advised basis, will become a substantial part of its service proposition. Hence the addition of ABP to the group is particularly fitting, as it will form the cornerstone of the company’s strategic focus on asset management.’
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RTC Group PLC, up 7.7% at 105.00p, 12-month range 50.04p-129.00p. The recruitment company says trading in June has been ‘in line with the positive expectations about our short, medium, and long-term prospects’. It expects to announce results for 2024 on March 24. Chair & Chief Executive Officer Andy Pendlebury says: ‘Economic conditions across the UK remain challenging, driving both fierce competition and revenue concerns, as evidenced by a number of earning downgrades across the sector. Despite this, we continue to drive growth through our focus on strong sector positioning, our people development, our systems enhancement, and our attention to excellent service and quality which continues to provide valuable differentiation for us with our clients. Whilst the recent budget will no doubt intensify both cost pressures and competition across all sectors of the economy during 2025, we remain confident in our ability to capture further value for our shareholders as the government’s commitment to investment in large scale infrastructure projects begins to unfold.’
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AIM - LOSERS
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Webis Holdings PLC, down 79% at 0.086p, 12-month range 0.076p-2.00p. Shares sink to this new 12-month low on Friday as the holding company of firms in the gaming and technology sectors proposes cancelling its AIM listing. Managing Director Ed Comins says: ‘The board believes that the cancellation will reduce costs and protect shareholder value as the group seeks to grow its business in North America and deliver on strategic goals.’ Webis says that despite its ‘best efforts’, trading has not improved as hoped. It expects a loss of $1.1 million for the year ending May. Webis explains: ‘Whilst the company continues to believe WatchandWager has a unique position in the USA as one of the top five licensed operators in our sector the board’s previously indicated strategy of seeking potential buyers, or commercial partners, for the business, or certain of its assets, have not materialised.’ The cancellation needs the backing of 75% of voters at a general meeting on December 18.
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