The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Mothercare PLC, up 44% at 4.90 pence, 12-month range 3.05p-8.50p. The Watford-based company specialising in clothes, prams and other children’s essentials sees shares rise on announcement of new refinancing deal. Inks £30 million joint venture for South Asian region with Reliance Brands Ltd, and a related refinancing with GB Europe Management Services Ltd. Receives gross consideration of £16 million from Reliance for participation in join venture, and secures new reduced debt facilities of £8 million. Additionally, posts pretax profit for the year to March 30 of £2.9 million, up from £2.2 million a year prior. Revenue, however, falls to £56.2 million from £73.1 million the previous year. Cost of sales narrow to £36.6 million from £52.2 million. Notes continuing challenges in the Middle East. Looking ahead, Chair Clive Whiley says: ‘We are now focused upon restoring critical mass alongside delivering our remaining core objectives. This is an exciting prospect for our partners, our colleagues and all our stakeholders alike as we finally leave behind the turmoil of recent years.’
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AIM - LOSERS
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Union Jack Oil PLC, down 7.5% at 10.87p, 12-month range 10.58p-28.00p. Expects planning consent for further development of the Wressle field in Lincolnshire to be quashed, following a legal challenge to application with Europa Oil & Gas Holdings PLC. The Wressle partners said Egdon has been informed that North Lincolnshire Council will not seek to resist a proposed legal challenge against the Wressle planning permission granted in September. The oil companies also have sought legal advice and concluded they are not in the position to defend the claim. The planning permission was to further develop the existing hydrocarbon development site within the PEDL180 and PEDL182 licences on the western margin of the Humber Basin. Plans involved extending the site to accommodate the drilling of two new wells, the construction of gas processing facilities, and an underground gas pipeline to connect Wressle to the local gas distribution network.
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