The following stocks are the leading risers and fallers on AIM on Friday.
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AIM - WINNERS
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Tiger Royalties & Investments PLC, up 50% at 0.15 pence, 12-month range 0.1p-0.275p. The natural resources sector-focused investor announces that on Thursday it signed a conditional agreement to acquire the entire issued share capital of Bixby Technology Inc from Toro Consulting Ltd, which is owned by Cykel AI PLC founder Jonathan Bixby, for £325,000. Tiger Royalties also has raised £3.0 million from 3.00 billion shares at 0.1p each. The fundraising comprises a placing of 2.48 billion shares at 0.1p each, and subscriptions for 525.0 million shares at the same price. Says Toro will also subscribe for new shares in Tiger Royalties worth £325,000 in total, at the fundraise price, and will receive one warrant per share. Fundraise participants and therefore new shareholders include Premier Miton Group PLC.
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Ascent Resources PLC, up 21% at 2p, 12-month range 1.47p-3.85p. The oil and gas explorer and producer has acquired a 49% interest in American Helium LLC’s Utah and Colorado upstream acreage, including ‘direct interests in a proportionate share of 119,000 acres of helium-rich oil and gas licenses’, for total consideration of $2.0 million. Says this will consist of $1.8 million in new Ascent shares at 5p each, plus around $250,000 in cash. Also, Ascent intends to conduct a second distribution to shareholders with ring-fenced access to 41% of the net proceeds due from Ascent’s damages claim against the Republic of Slovenia. Announces moreover that it has raised $475,949 through issuing 7.5 million shares at 5p each, more than triple its closing price of 1.65p on Thursday.
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AIM - LOSERS
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Synairgen PLC, down 34% at 2.475p, 12-month range 2.475p-7.55p. Southampton, England-based drug discovery and biotechnology firm says it has conditionally raised £18.0 million through a subscription for 900.0 million new shares at 2p each by TFG Asset Management UK LLP ‘on behalf of the relevant funds’. Adds that it intends to raise up to £6.0 million through subscriptions by ‘certain’ directors for 1.3 million shares, and a placing and open offer for up to 298.8 million shares in total, in both cases also at 2p. Says it must raise a minimum of £2.9 million for the fundraise to proceed, with the maximum proceeds to be capped at £19 million. Says it will use the net proceeds to fund external and internal costs of a phase 2 trial of its investigational formula SNG001 in mechanically ventilated patients with confirmed respiratory viral infections.
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