The following stocks are the leading risers and fallers on AIM on Monday.
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AIM - WINNERS
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Aquis Exchange PLC, more than double at 705 pence, 12-month range 309p-705p. The exchange, which is focused primarily on growth companies, has greed to be taken over by Swiss exchange operator Six Group. The 727 pence per share cash bid from Zurich-based Six Exchange AG, values Aquis at £225 million on a fully diluted basis. The price for Aquis represents a 120% premium to Friday’s closing price on AIM of 330p. Early Monday, shares in Aquis leapt 113% to 702.20p each. As well as being Switzerland’s principal stock exchange, Six Exchange provides trading other securities such as Swiss government bonds and derivatives. It also provides financial market information and technology products. Aquis said it recognised the European exchange market remains highly competitive and requires ongoing investment in technology and distribution. It said it agreed to the Six offer after extensive talks and ‘several unsolicited proposals’ from Six. ‘Aquis will be better placed to deliver on its strategy of developing innovative capital market solutions from a position of further scale,’ it said in a statement.
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Nostra Terra Oil & Gas Co PLC, up 27% at 0.0475p, 12-month range 0.0285p-0.19p. Texas-focused exploration company, says its phase 1 workover programme is complete and oil production currently averages 120 barrels per day net, ‘up significantly due to the contribution from the first phase of the planned workover program at Pine Mills’. Production at the Pine Mills field has increased by 60% or 30 bopd on average, and is currently averaging 80 bopd gross. Says it has restarted an enhanced oil recovery project in the northern end of Pine Mills, and the new Fouke area development adds 200,000 barrels of oil reserves. Adds that field operating costs are down 25% due to changes made to field operations at Pine Mills and combined with recent production increases the lifting costs per unit are down by over 50%. Field netbacks and profitability have ‘significantly increased’, and it is cash flow positive at both the operating and corporate level.
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AIM - LOSERS
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Woodbois Ltd, down 22% at 0.23p, 12-month range 0.23p-0.98p. Temporary suspension in trading was lifted Monday morning. Woodbois also announces the appointment of Allenby Capital Ltd as its nominated advisor, effective immediately. The Guernsey-based timber technology firm moreover confirms receipt of £484,400 before expenses from its placing announced on October 18, which will ‘be used to ramp up production to 50 containers per month’. Hires Paul Shackleton and Clive Roberts as new independent non-executive directors due to their ‘wealth of capital markets and regulatory experience that will assist the board to deliver shareholder value’, and has hired Emmanuel Henriquet as director general of Woodbois Gabon SA. Adds that ‘ongoing restructuring efforts are progressing as planned. We have now achieved further cost reductions and have optimised our workforce for our planned near-term activity’.
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