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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Kibo Energy PLC, more than double at 0.024 pence, 12-month range 0.010p-0.070p. Mast Energy Developments, which Kibo holds a 55% stake in, says the first generator set at its 9-megawatt Pyebridge flexible power plant in Derbyshire to start commercial operations and revenue generation around end of this month, in line with the expected timeline. The second phase work programme to refurbish this first genset is progressing well, Mast says. Back in April, it had said the phase two work would be performed in separate consecutive tranches and was expected to take around six to eight weeks per genset.
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Trident Royalties PLC, up 20% at 48.00p, 12-month range 29.60p-50.00p. Trident Royalties agrees a £144 million takeover approach from industry peer, Deterra Global Holdings Pty Ltd. The cash bid values each share in Trident, the diversified mining royalty company, at 49 pence each. Shares in Trident rose 20% to 47.90p each in London on Thursday morning. The offer represents a 23% premium to Trident’s closing share price of 40p on Wednesday. Deterra Royalties Ltd, which owns Deterra Global, is based in Perth, Australia and listed on the ASX exchange with a market capitalisation of around A$2.4 billion, £1.3 billion. Deterra says Trident’s Thacker Pass lithium asset aligns squarely with its target investment criteria. Trident’s other assets, including its La Preciosa Silver royalty and Mimbula copper royalty, will assist Deterra in its diversification efforts, the firm added.
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AIM - LOSERS
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R&Q Insurance Holdings Ltd, down 83% at 0.31p, 12-month range 0.31p-61.00p. The non-life speciality insurance company updates investors on sale of Accredited. In October, R&Q entered an agreement to sell 100% of the equity interest in Randall & Quilter America Holding Inc, the holding company of its program management business, Accredited. On Thursday, says it has seen adverse reserve development and a degree of ‘general stress’ on its businesses. These will have an impact on the company’s stability as a business. It says: ‘The board is currently exploring and evaluating all options that may be available to the company, including alternative transactions (including the alternative proposal) and potential sources of liquidity, whilst continuing to work to complete the original sale.’
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