The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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DSW Capital PLC, up 18% at 65 pence, 12-month range 47-65p. Announces its ‘significantly earnings-enhancing and transformational’ acquisition of DR Solicitors Ltd for £6.1 million, comprising £4.3 million in cash and 3.2 million shares worth £1.8 million. Says the cash portion of the acquisition is funded by a £3 million three-year revolving credit facility entered on Thursday with OakNorth Bank PLC, as well as from its own cash reserves. The ‘highly scalable, cash generative, and profitable’ DR provides legal services to GPs, consultants and other UK primary care providers. DSW says that the deal materially reduces its reliance on the cyclical SME M&A market from 68% of revenue to around 30%. Adds that it intends to maintain its progressive dividend policy.
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Clean Power Hydrogen PLC, up 16% at 9.75p, 12-month range 7.35p-19.4p. Announces new licence deal and sales contract with Hidrigin, also known as Lisheen H2 Energy Park Ltd. Licence agreement grants Hidrigin the right to manufacture up to 2 GW of MFE220 units in Ireland to connect with its own solar and wind farms across the world. Sales contract sees Hidrigin agree to buy a 1MW MFE220 electrolyser, and Clean Power Hydrogen expects to deliver it next year. Also says it has reached a settlement deal with GHFG Ltd. Company terminated a licence deal with GHFG in June last year, saying the latter had undertaken actions that constituted a repudiatory breach of the licence deal, and that it intended to claim damages. Says on Monday however that all parties ‘have agreed to settle and resolve matters amicably, with no admission of fault’. Adds: ‘Under the terms of the settlement, the company will not claim nor pay any damages and all legal action will be terminated by both parties.’
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AIM - LOSERS
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Feedback PLC, down 44% at 25p, 12-month range 25p-140p. For financial year ended May 31, reports a £3.6 million pretax loss following a £3.4 million loss the year before. Revenue rises 15% to £1.2 million from £1.0 million, while other operating costs rise to £4.8 million from £4.4 million. Also announces proposed fundraise of £5.2 million through a placing and around £70,500 through a subscription, and a retail offer of up to 5.0 million new shares to raise an extra £1.0 million, at 20p per share. It will also conduct a share capital reorganisation, subdividing each share into one 1p new ordinary share and one 49p deferred share. Says this reorganisation will not impact total number of shares in issue. Going forward, Chief Executive Officer Tom Oakley says ‘there has never been a better time to invest in the company’. Comments: ‘The shifted political landscape brings exciting opportunities for healthcare reform and signals an increasing need for solutions such as ours to enable the required structural changes.’
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