(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Touchstar PLC, up 16% at 90.00 pence, 12-month range 55.00p-96.00p. The mobile data supplier says it is track to deliver a performance for 2021 that exceeds market expectations, and expects 2022 to deliver even stronger results. For the year, Touchstar expects posttax profit to triple from the GBP87,000 posted in 2020, as the company continues to develop itself into a Software-as-a-service model. For 2021, recurring revenue accounted for 38% of total revenue, compared to 35% the prior year. Looking ahead, Touchstar said its prospects for 2022 are more positive and certain, with the rate of growth in earnings and revenue set to accelerate.
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Block Energy PLC, up 11% at 1.55p, 12-month range 0.80p-3.80p. The oil and gas company says that good progress had been made with testing at its JKT-01Z well. Block Energy says JKT-01Z's initial production rates were 344 barrels of oil equivalent per day, comprising of 241 barrels of oil per day and 17,500 metres cubed of gas per day. Block Energy notes this will add nearly USD500,000 additional cash revenue per month based on its current production rates and sales prices. Excluding capital expenditure, the company said this additional revenue will make its cashflow positive.
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AIM - LOSERS
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Advance Energy PLC, down 62% at 0.22p, 12-month range 0.17p-5.70p. Shares in upstream oil and gas firm hit 12-month low after it says its Buffalo-10 well in Timor-Leste had only found "residual oil". The Isle of Man-based firm says the well will be plugged and abandoned, and the rig will be demobilised. Advance Energy owns a 51% interest in the project.
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Microlise Group PLC, down 19% to 165.10p, 12-month range 139.90p-254.00p. The transport management software firm says it will deliver 18-month results in line with expectations, but warns supply chain issues will persist in 2022 for longer than expected. Microlise noted "continued operating challenges caused by the pandemic and global microchip shortage", and predicted these will last longer into 2022 than previous estimates.
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TomCo Energy PLC, down 19% at 0.51p, 12-month range 0.38p-0.89p. Shares in energy company with operations in the US fall after discounted share placing. TomCo places 250 million new shares at a price of 0.50p each, a 19% discount to Friday's mid-market trading price. The proceeds will be used to fund its wholly-owned subsidiary, Greenfield Energy LLC's Tar Sands Holdings II site in Utah, it says.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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