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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Eden Research PLC, up 21% at 4.95 pence, 12-month range 3p-12.16p. The company focused on sustainable biopesticides and plastic-free formulation technology, alongside Corteva Agriscience, announces a temporary regulatory approval in Italy for Ecovelex. The product is approved for use as a bird repellent seed treatment in corn for the 2024 growing season. Adds it has submitted regulatory dossier and application to Austria, which will act as ‘interzonal rapporteur member state’ for the EU. The review and authorisation can take between 18 and 24 months.
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AIM - LOSERS
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CAP-XX Ltd, down 56% at 0.75p, 12-month range 0.55p-4.7p. The Sydney-based supercapacitor and energy management system manufacturer provides an update on its patent infringement action against Maxwell Technologies Inc, now a subsidiary of US electric vehicle maker Tesla Inc. Says US District Court of Delaware affirms CAP-XX patents were invalid, and therefore Maxwell has not infringed them, and is therefore not liable to pay damages nor license fees. ‘Whilst CAP-XX is disappointed with this decision, it is in discussions with its attorneys to agree the appropriate next steps,’ the firm says.
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RBG Holdings PLC, down 32% at 11.15p, 12-month range 10p-71.97p. The legal and professional services firm warns the expected improvement in trading in its Legal Services division has not materialised over the second half, with trading broadly in line with the first. In particular, Memery Crystal has been hit by the lack of activity in commercial real estate and equity capital markets, as transactions forecast for the fourth quarter have been delayed or cancelled. Now expects annual revenue in 2023 to be below market expectations at around £41.9 million, falling year-on-year from £49.8 million. Adjusted earnings before interest, tax, depreciation and amortisation are expected to drop sharply to around £4.0 million from £15.8 million. ‘The board recognises that 2023 has been a year of significant transition and a disappointing one for shareholders. Nonetheless, the board is confident that the business is moving into 2024 on a significantly stronger footing than at the start of this year,’ says Non-Executive Chair Marianne Ismail. Even so, Ismail guides for revenue and profit to be only ‘slightly higher’ in 2024.
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