The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Barkby Group PLC, up 77% at 5.86 pence, 12-month range 3.2p-12p. The commercial property development and investment firm says its subsidiary, Cambridge Sleep Sciences, granted a five-year global licence to Sleep Sense International for the manufacture of a smart pillow, which uses CSS’s SleepEnginge platform. The deal is expected to generate £1.3 million in royalty payments over the first year, and £3.0 million in the second year. The subsequent payments will be agreed next November. SleepEngine is an audio technology which ‘helps to retrain the brain to restore healthy natural sleeping patterns’, Barkby explains.
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Croma Security Solutions Group PLC, up 16% at 55p, 12-month range 45.6p-69.88p. The security services provider conditionally agrees to sell its subsidiary Vigilant Security Ltd to M&W Security Ltd for £6.5 million, plus inter-company balances of £1.1 million repayable to Croma. The sale forms part of its strategy to focus on its higher margin locksmiths and security systems businesses. Notes Vigilant is being acquired by two previous directors of the company, who had stepped down last December to prepare a bid. Says consideration is a 92% premium to Croma’s market capitalisation of £7.1 million on Friday. ‘The funds from the sale will accelerate our ability to drive our Locks and Systems business through the roll out of our modern Security Centres,’ says CEO Roberto Fiorentino, who adds the firm has continued to trade well in its second half which ends this month.
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AIM - LOSERS
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FireAngel Safety Technology Group PLC, down 32% at 4.6p, 12-month range 4.6p-14p. The developer and supplier of home safety products updates on a range of topics, including an open offer of shares at a 27% discount to Monday’s closing price. Will offer 120.7 million shares at 5.05p each to raise £6.1 million. Also says former executive chair John Conoley resigned as director from the company with immediate effect on Monday, and will be replaced by former Universe Group PLC CEO Neil Radley as CEO and former Universe executive chair Andrew Blazye as non-executive chair, both from Wednesday. In addition, reports its pretax loss in 2022 widened to £6.1 million from £3.7 million in 2021, while revenue rose 32% to £57.5 million from £43.5 million.
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