The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Cap-XX Ltd, up 76% at 0.34 pence, 12-month range 0.058p-2.90p. The manufacturer of supercapacitors for portable electronic devices says that it has been signed a settlement agreement with Tesla Inc. ‘Whilst the terms of the settlement agreement are confidential, they do not involve payments to Tesla that the board of CAP-XX considers to be material to the company,’ Cap-XX says. Back in September 2019, Cap-XX alleged that Maxwell Technologies had directly and indirectly infringed on CAP-XX’s patents for several capacitor products. Maxwell, a California-based manufacturer of energy storage and power delivery products, was acquired by Tesla in 2019 for $218 million. However, last year, Tesla filed a counter complaint against Cap-XX in a US District Court, alleging infringement of two patents by Cap-XX.
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Getech Group PLC, 8.4% at 8.95p, 12-month range 4.10p-15.95p. The geo-energy and green hydrogen company says it has made a ‘strong’ start to 2024. Revenue for the first two months of the year are about 40% ahead of the same period in 2023. In 2024 to date, Getech has secured contract wins totalling £900,000, including three new annual software subscription customers as well as the renewal of eight annual licenses for the Globe geoscience platform and software products. Chief Executive Richard Bennett comments: ‘Getech has had a good start to 2024, and I am pleased by the improved financial position of the company. Importantly, prospects for the business continue to build as we retain our long-term clients, as well as attract new brands to our growing subscription base.’
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AIM - LOSERS
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Blue Star Capital PLC, down 20% at 0.026p, 12-month range 0.026p-0.25p. The investment company reports a pretax loss of £6.3 million for the financial year that ended September 30, 2023, widened from £1.3 million in financial 2022. The main factors behind the significant loss were the write down in value of the company’s investments in Dynasty Media & Gaming and Sthaler and losses incurred on the realisation of the company’s quoted investments. Executive Chair Tony Fabrizi says: ‘The last year was one of considerable disappointment for all those connected with Blue Star. The material and unexpected write down in value in our investment in Dynasty has had a significantly detrimental impact on the company’s net asset value and this has obviously impacted sentiment towards the company.’
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