The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Instem PLC, up 40% at 826.83 pence, 12-month range 550.00p-830.00p. Instem says it has agreed to a private equity takeover offer that values the life sciences IT company at just above £200 million. Specialist healthcare industry investor Archimed SAS has offered 833 pence in cash per Instem share, valuing the entire company at £203 million. The prices is a 41% premium to Instem’s close on AIM in London on Tuesday of 590p. Archimed has offices in New York, Singapore and Lyon, France. It has more than €8 billion in assets under management. Instem says the takeover will allow it to take advantage of Archimed’s industry knowledge and network as a healthcare specialist investor.
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Bidstack Group PLC, up 11% at 0.84p, 12-month range 0.70p-4.24p. The in-game advertising firm partners up with Venatus Media Ltd and will provide access to its video game advertising inventory of more than 400 games. Says Venatus will be the ‘sole provider’ of direct sales of Bidstack’s inventory across the US, UK, Germany, Canada, Australia and South Korea. Venatus is a London-based advertising platform. Bidstack Chief Executive Officer James Draper says: ‘We’ve identified an opportunity to create increased value for both businesses, our customers, and partners through a major tie-in that combines Venatus’ video gaming specialist sales heft with Bidstack’s programmatic technology and network of games, we’re delighted to have Venatus alongside us.’
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AIM - LOSERS
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Challenger Energy Group PLC, down 16% at 0.071p, 12-month range 0.065p-0.13p. The Caribbean and America-focused oil and gas company announces £3.3 million convertible loan note funding facility. The company says the facility will support business development, in particular continuing with accelerated technical work programs in Uruguay, for both the AREA OFF-1 block and the newly awarded AREA OFF-3 block; and progress business development opportunities in Trinidad. It notes that £550,000 has has initially been drawn. Chief Executive Officer Eytan Uliel says: ‘In the last year, across the broader Challenger Energy business, we have completed value-enhancing technical work, improved production operations, high-graded our portfolio, secured new assets, and ensured a range of options are available to deliver additional funds into the business.’
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Woodbois Ltd, down 13% to 0.59p, 12-month range 0.22p-4.70p. Notes recent reports of government instability in Gabon. As fully scheduled, Woodbois says production at the facilities in Mouila is currently suspended to allow the workforce to travel to vote in the national elections. ‘The company will be monitoring the situation and will update the market should there be any significant delay in the scheduled recommencement of production or any other material impact on the company’s operations in Gabon,’ the company adds. Woodbois will be providing a full operational update as part of its interim accounts, which are due to be published in September.
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