WINNERS & LOSERS: Genel and Acceler8 jump on takeover bids
(Alliance News) - The following are the leading risers and fallers among London Main Market small-cap and AIM stocks on Friday.
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Main Market small-cap winners
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Genel Energy PLC, up 21% at 60.50 pence, rejects possible takeover offer by DNO worth GBP202 million
Acceler8 Ventures PLC, up 16% at 115.00p, Court sanctions takeover of Intuitive Investment
First Class Metals PLC, up 16% at 2.60p
Ecofin US Renewables Infrastructure Trust PLC, up 14% at USD0.15
BSF Enterprise PLC, up 11% at 1.00p
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Main Market small-cap losers
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ICFG Ltd, down 17% at 12.50p
Aminex PLC, down 13% at 1.20p
Technology Minerals PLC, down 6.3% at 0.05p
Unicorn Mineral Resources PLC, down 6.3% at 7.50p
Dauch Corp, down 6.1% at 413.00p, JPMorgan cuts broker rating to 'neutral'
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AIM winners
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Mothercare PLC, up 42% at 1.00 pence
Tanfield Group PLC, up 13% at 4.25p
Sunrise Resources PLC, up 9.1% at 0.02p
Devolver Digital Inc, up 8.6% at 6.63p
Helix Exploration PLC, up 7.7% at 27.25p
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AIM losers
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Alien Metals Ltd, down 11% at 0.08p
Futura Medical PLC, down 7.5% at 0.37p
Software Circle PLC, down 6.8% at 15.75p
Proservice Building Services Marketplace PLC, down 5.3% at 2.51p
Active Energy Group PLC, down 5.2% at 0.08p
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Small-cap and AIM movers in focus:
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Genel Energy PLC, up 21% at 60.50 pence, 12-month range 48.20p-83.29p. Surges after DNO says it approaches the company with a possible offer valuing it at around GBP202 million, comprising a 69p-per-share cash bid with a cash-and-share alternative. DNO says Genel rejects the proposal, but DNO remains willing to engage, with a deadline of September 4.
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Acceler8 Ventures PLC, up 16% at 115.00 pence, 12-month range 17.32p-100.22p. Extends gains after Thursday's rise, when a court sanctions its recommended all-share acquisition of Intuitive Investments Group. The scheme is expected to become effective on August 13, with the enlarged group's shares due to begin trading on the Main Market on August 14.
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Gelion PLC, up 5.4% at 19.50 pence, 12-month range 12.25p-27.00p. Signs a funded joint development agreement with Japan's Mitsui Kinzoku, which will pay GBP2 million in milestone-linked payments to validate Gelion's Nano-Encapsulated Sulfur cathode active material in high-energy-density liquid and solid-state sulfur battery cells. The collaboration aims to establish Mitsui Kinzoku as Gelion's partner for scaling production of its NES cathode material and includes an option to negotiate manufacturing and distribution rights in certain Asian territories. Gelion says the agreement provides a pathway to industrial-scale production and strengthens its commercial partnerships with a major global battery materials supplier.
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Talisman Metals PLC, up 4.0% at 6.50 pence, 12-month range 3.45p-13.00p. Reports significant channel sampling results from its Tirzzit copper project in Morocco, with assays returning grades of up to 2.62% copper and 44.47ppm silver. The results extend mineralisation by a further 70 metres, confirm a 300-metre strike length with six of seven channels above cut-off grade, and support plans for a drilling campaign targeting a prospective area spanning at least four kilometres.
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Serica Energy PLC, down 2.5% at 226.10 pence, 12-month range 151.80p-294.00p. Ratio Petroleum increases its recommended all-cash offer for Pharos Energy, trumping Serica's competing bid. Ratio raises its offer to 32.8183p per Pharos share, including a 4.0p special dividend, valuing Pharos at around GBP146.4 million and narrowly exceeding Serica's equivalent offer while arguing it provides greater deal certainty.
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By Eva Castanedo, Alliance News senior economics reporter
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