The following stocks are the leading risers and fallers on AIM on Thursday.
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AIM - WINNERS
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Ethernity Networks Ltd, up 19% at 0.080 pence, 12-month range 0.065p-1.40p. The supplier of data processing semiconductor technology for networking appliances says work as part of a $1.1 million pact with a US-based aerospace system products provider has been well-received so far. ‘The company obtained US government approval for the project in September 2024, and over the course of six months, the company has successfully completed all scheduled deliveries focused on porting Ethernity’s existing silicon tuned software onto the customer’s platform, and has invoiced $890,000 to date. Additionally, the company is pleased to have received the highest performance ratings across all aspects of the contract so far, including technical support, adherence to scheduled deliveries, and overall management,’ Ethernity adds. It expects the deal to be extended by an additional $290,000.
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ImmuPharma PLC, up 8.1% at 3.62 pence, 12-month range 0.85p-7.40p. The drug discovery company says research findings show its P140 autoimmune technology platform is ‘a safe and effective treatment for patients suffering from systemic lupus erythematosus’. Lupus is an autoimmune disease where a sufferer’s own body attacks its tissues and organs. ‘Unlike the most advanced therapies currently available for the treatment of autoimmune diseases, these findings indicate that P140 does not reduce or block the body’s ability to mount a specific immune response,’ ImmuPharma says.
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AIM - LOSERS
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Hornby PLC, down 28% at 13.68p, 12-month range 6.40p-40.00p. The model railway maker announces a plan to exit AIM and register as a private limited company. ‘Over recent years, Hornby has committed to implementing significant structural change and driving operational transformation for the benefit of all stakeholders in Hornby, not least its loyal shareholder base. This commitment has been evidenced by the board’s strategic actions including acquisitions, divestments and operational restructuring,’ Hornby says. The company believes that its process of ‘structural change’ will be best delivered away from the public market. ‘At the same time, the board is conscious of the limited liquidity of the company’s shares on AIM balanced against the regulatory burden and cost of maintaining the public quotation. Therefore, following an ongoing and in-depth evaluation, the board has concluded that it is in the best interests of the company and its shareholders to seek shareholder approval for the cancellation and re-registration,’ it adds. It will seek backing for the move at an April 1 general meeting. Castelnau Group Ltd, with a 55% stake in Hornby, has backed the move. ‘For Hornby shareholders that want to continue to own Hornby shares as a private company they can do so with no further action, but in order to support Hornby shareholders who wish to continue to invest in the business but would like to do so via a listed vehicle, Castelnau has agreed with the Hornby board to offer a share-for-share exchange facility,’ Castelnau says. For those not using the Castelnau exchange facility, a matched bargain trading facility will be established with JP Jenkins. Castelnau shares were flat.
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