The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Belluscura PLC, up 8.1% at 20.00 pence, 12-month range 15.20p-52.00p. Belluscura says takeover offer for TMT Acquisition PLC has become wholly unconditional. TMT Acquisition is a London-based company that buys businesses in the technology, media and telecom sector. The London-headquartered medical device developer now owns 25 million TMT Acquisition shares, representing 91% of its total. This comes after Belluscura announced in October that it had agreed to buy TMT Acquisition in an all-share deal, valuing it at £5.8 million. Under the terms of the offer, it was agreed that TMT shareholders would receive three Belluscura shares in exchange for every four held in TMT. In January, Belluscura said it had revised terms of an all-share offer for the whole of the issued share capital of TMT Acquisition, agreeing to increase the number of new Belluscura shares to be offered in exchange for TMT acquisition shares. TMT considered the revised terms fair and reasonable, and recommended shareholders accept. Under the increased terms, it was agreed, TMT shareholders will receive one new Belluscura share in exchange for every TMT Acquisition share, which were quoted at 17.00p on Friday.
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AIM - LOSERS
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Bens Creek Group PLC, down 24% at 6.28p, 12-month range 4.61p-22.98p. Bens Creek owns and operates metallurgical coal mines across the US, including the 10,000-acre Bens Creek mining project in West Virginia. It says that operational challenges over the recent period had impacted the company’s cash flow, forcing it to update funding arrangements with its largest shareholder. The company also announces that Chief Executive Officer Adam Wilson will be stepping down, having served in the role since the company floated in 2021. Wilson will continue in his role until a replacement CEO has been found, and Bens Creek says the search for a successor is underway.
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Kinovo PLC, down 9.8% at 55.95, 12-month 33.60p-70.00p. The property services provider offering safety compliance and sustainability solutions says it has inked new contracts in East Anglia and now expects to deliver higher full-year revenue and earnings, in line with expectations. The firm says it continues to make progress in East Anglia, having opened a new office in December, as well as signing eight contracts with new clients through its Eastern Procurement Asset Improvement framework. Six of these are for a term of between one and three years, it says, amounting to a total expected value of approximately £4.2 million. Looking ahead, Kinovo expects revenue for the full-year ending March 31 will be £65 million, up 3.7% from £62.7 million the year before. Adjusted earnings before interest, tax, depreciation and amortisation will be ‘significantly ahead’ of the £5.5 million contracted last year, at no less than £6.2 million.
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