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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Robinson PLC, up 20% at 120.10 pence, 12-month range 86.00p-130.00p. The plastic and paperboard packaging manufacturer says it is in ‘advanced discussions’ over the appointment of a new chief executive officer, after a ‘thorough search process with a leading recruitment agency’. In August last year, it reported that Helene Roberts would resign as CEO in September, with senior independent non-executive director Sara Halton taking over on an interim basis while the company searched for a new CEO. Meanwhile, in a trading update, Robinson says the momentum that it experienced in the second half of 2023 has continued into 2024. Sales volumes in the first four months of 2024 are up 12% from a year earlier. With the effect of sales price and foreign exchange movements, total revenue is up 8%. Looking ahead, the company expects 2024 revenue to be ahead of 2023 and current market expectations. Full-year operating profit before amortisation of intangible assets and any exceptional items is expected to be in the region of £3.0 million, up from £2.2 million in 2023 and ahead of current market expectations.
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AIM - LOSERS
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Metals Exploration PLC, down 5.0% at 4.99p, 12-month range 1.50p-6.00p. The AIM-listed, Philippines-focused gold producer says two of its lenders dispute a lower interest rate of 7%, as opposed to 15%, should apply to the company’s debt facilities. It says Runruno and D&A claim several events of default have occurred under the debt facilities. Metals Explorations notes the claims would result in $2.0 million being owed to both lenders, although it disputes these allegations.
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Thor Energy PLC, down 3.8% at 1.01p, 12-month range 1.00p-3.02p. The US and Australia-focused mineral exploration company says its shares have halted trading on the Australian Securities Exchange. This is to facilitate a limited capital raising to accelerate its exploration activities, particularly over its ‘priority’ uranium assets. Thor Energy says the capital raised will complement its existing working capital and support ongoing exploration efforts. The trading halt will remain in place until the earlier of Monday next week or a further announcement on the capital raise.
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