The following stocks are the leading risers and fallers on AIM on Wednesday.
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AIM - WINNERS
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LifeSafe Holdings PLC, up 20% at 8.67 pence, 12-month range 6.50p-18.00p. Signs an exclusive global distribution deal with Hurst Jaws of Life and Vetter, both subsidiaries of Idex Fire & Safety. The agreement is for an initial 18-month term and relates to the exclusive supply of LifeSafe’s industrial fire extinguishing and prevention products into the professional fire sector. Though there is no guaranteed minimum income under the deal, it is estimated to generate between £6 million and £8 million in revenue for LifeSafe over the next three years. LifeSafe also anticipates a purchase order worth around €400,000 from Idex Fire & Safety ‘in the near future’.
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AIM - LOSERS
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Revel Collective, down 27% at 0.17p, 12-month range 0.12p-2.00p. Chief Financial Officer Danielle Davies resigns to take up another opportunity, and will leave the business ‘during the summer’. Until then, Davies will focus on ‘the effective transition of her responsibilities’ and the delivery of the pub and bar operator’s full-year results. An announcement on her replacement will be made ‘in due course’.
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Ariana Resources, down 20% at 1.40 pence, 12-month range 1.35p-3.18p. Raises around £1.1 million via the completion of a placing and subscription for shares at 1.5 pence each. This was around a 14% discount to Tuesday’s market close. The subscription raises £347,000 and the placing raises £700,000 in aggregate. The mineral exploration and development firm with gold mining interest in Africa and Europe is also expecting to receive an additional subscription letter for £77,000. While there is no guarantee that the additional subscription offer will be entered into, ‘the directors are confident that they will be’. The company will make a further announcement ‘in due course’. Net proceeds will be used to provide working capital and to fund the ongoing feasibility study at its Dokwe project.
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