The following stocks are the leading risers and fallers on AIM in London on Friday.
----------
AIM - WINNERS
----------
Smoove PLC, up 3.7% at 39.00 pence, 12-month range 27.00p-37.00p. The housing market software provider says discussions with Pexa Group Ltd regarding a possible cash takeover offer for Smoove have advanced ‘constructively’, and a formal due diligence process has begun. The deadline by which Pexa is required to announce its intention to make a formal offer for Smoove has been extended to August 11. Smoove had confirmed talks of a potential takeover offer by Pexa back in April 24. Sydney-listed Pexa operates Pexa Exchange, a digital property settlements platform in Australia. Smoove reiterates there can be no certainty of an offer, nor the terms of any offer.
----------
AIM - LOSERS
----------
Zoo Digital Group PLC, down 29% at 74.00p, 12-month range 65.00p-219.89p. The provider of cloud-based localisation and digital distribution services says first-quarter revenue is lower than expected due to a ‘well-publicised hiatus in the normal flow of orders across the industry’. Zoo says this stems from cost-saving measures by its major streaming company clients. It added the Writers Guild of America strike, which is in its third month, has hurt levels of localisation and media services work on new titles. ‘Despite the short term industry-wide uncertainly alluded to above, Zoo expects to be in an even stronger position with several customers following a rationalisation of their supplier bases with Zoo selected as one of a smaller number of vendors,’ the company says. It expects revenue growth to return in the second half of its year.
----------
Versarien PLC, down 33% at 1.2p, 12-month range 0.9p-23p. The engineering materials company places 65.0 million new shares at an issue price of 1.0p each, raising £650,000. The issue price is a 44% discount to Thursday’s closing price of 1.79p. Will use the net proceeds for working capital purposes and as bridge financing ahead of anticipated asset sales. The company repeats that it is pursuing a disposal of assets, including its mature businesses and the intellectual property and plant acquired from Hanwha Aerospace in 2020.
----------
Copyright 2023 Alliance News Ltd. All Rights Reserved.
