(Alliance News) – The following stocks were the top gainers and losers on AIM on Monday.
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AIM – WINNERS
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Aquis Exchange PLC, more than double to 705p, 12-month range 309p-705p. The exchange, which focuses mainly on growing companies, has agreed to be acquired by Swiss stock exchange operator Six Group. The 727 pence per share takeover offer from Zurich-based Six Exchange AG values Aquis at £225 million on a fully diluted basis. The Aquis price represents a 120% premium to Friday’s closing price on AIM, which was 330p. At the start of the day on Monday, shares in Aquis jumped 113% to 702.20 pence each. In addition to being Switzerland’s main stock exchange, Six Exchange provides trading in other securities such as Swiss government bonds and derivatives. It also provides information on financial markets and technology products. Aquis said it recognized that the European stock market remained highly competitive and required continued investment in technology and distribution. It said it accepted Six’s offer after extensive discussions and “several unsolicited proposals” from Six. “Aquis will be better positioned to execute its strategy of developing innovative capital markets solutions from a larger position,” the company said in a statement.
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Nostra Terra Oil & Gas Co PLC, up 27% to 0.0475p, 12-month range 0.0285p-0.19p. The Texas-focused exploration company says Phase 1 of its workover program is complete and oil production currently stands at 120 net barrels per day, “a significant increase due to the contribution from the first phase of the planned reconditioning program at Pine Mills. Production from the Pine Mills field has increased by 60%, or 30 bpd on average, and is currently averaging 80 bpd gross. The company says it has restarted an enhanced oil recovery project at the north end of Pine Mills, and the new development of the Fouke area adds 200,000 barrels of oil reserves. She adds that field operating costs have fallen by 25% due to changes to field operations at Pine Mills and, combined with recent production increases, lifting costs per unit have fallen by more than 50%. The field’s net profits and profitability have “increased significantly” and cash flow is positive at both the operating and corporate level.
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AIM – LOSERS
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Woodbois Ltd, down 22% to 0.23p, 12 month range 0.23p-0.98p. The temporary suspension of trading was lifted Monday morning. Woodbois also announces the appointment of Allenby Capital Ltd as appointed advisor, effective immediately. The Guernsey-based wood technology company further confirms having received GBP484,400 before fees from its placement announced on October 18, which “will be used to increase production to 50 containers per month”. It hires Paul Shackleton and Clive Roberts as new independent non-executive directors due to their “rich financial markets and regulatory experience which will help the board create shareholder value”, and has hired Emmanuel Henriquet as general manager of Woodbois Gabon SA. She adds that “ongoing restructuring efforts are progressing as planned. We have now achieved further cost reductions and optimized our workforce for our planned activities in the near term.”
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By Emma Curzon, journalist at Alliance News
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