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(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday.
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AIM - WINNERS
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Intercede Group PLC, up 3.7% at 143.12 pence, 12-month range 95.00p-216.90p. The cybersecurity software firm announces "continued momentum", as it wins orders worth around USD1.4 million. It has a struck a three-year subscription licence order for the MyID SecureVault for a government end client based in the Asia Pacific region. In addition, it nets two "enhanced professional services order" with existing customers in the US federal space. Finally, it reports a professional services order to an existing US federal agency, "specialising in providing technological capabilities and support to the national banking system".
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AIM - LOSERS
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Savannah Resources PLC, down 3.4% at 4.30p, 12-month range 2.10p-5.00p. Shares fall as political uncertainty in Portugal, where the firm is developing the Barroso lithium mine, returns. The nation's Prime Minister Luis Montenegro lost a vote of confidence on Tuesday, in a development which could see the nation head to its third general election in as many years. Savannah Resources shares have risen some 75% over the past year. It was roughly 12 months ago that Portugal last went to the polls for a legislative election. Savannah Resources last month said it could resume fieldwork for a drilling campaign at Barroso. This was after Savannah announced earlier that month that it was forced to temporarily stop work on land it had been given temporary access due to legal action. A precautionary measure had been filed at the Administrative & Fiscal Court of Mirandela in northeastern Portugal by three local landowners against the Portuguese Ministry for the Environment & Energy.
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Cake Box Holdings PLC, down 2.6% at 185.03p, 12-month range 155.00p-210.00p. The cream cakes maker says it has raised GBP7 million from a placing at 180p per share. Earlier on Wednesday, it announced a GBP22 million acquisition. It will acquire Asian sweets producer Ambala Foods for GBP16 million, and a manufacturing facility located in Welwyn Garden City for another GBP6 million. The placing part funds the deal. "Ambala currently operates 22 stores, with 19 owned stores and three franchised stores and has been family-run since inception," Cake Box says. "Ambala is a well-established brand within UK Asian communities and the acquisition will substantially broaden the group's product range and offering in appropriate stores.
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By Eric Cunha, Alliance News news editor
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