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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Samuel Heath & Sons PLC, up 15% at 680.00 pence, 12-month range 350.00p-680.00p. The Birmingham-based hardware and bathroom appliances manufacturer's pretax profit surges to GBP2.0 million in the year to March 31, from GBP620,000. Revenue grows 22% to GBP14.0 million from GBP11.5 million. Customers have resumed projects which were out on hold during lockdowns, Samuel Heath says.
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AIM - LOSERS
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Morses Club PLC, down 42% at 4.89p, 12-month range 4.50p-88.00p. The home collected credit provider turns to a scheme of arrangement to deal with customer redress claims for unaffordable lending. The company has "adequate liquidity for the immediate future" though its future could be jeopardised without a scheme, due to the amount of redress claims.
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Corcel PLC, down 28% at 0.36p, 12-month range 0.36p-2.20p. Shares in the mining and mineral resource development company fall as it announces plans for a GBP600,000 fundraise, including a placing and a broker option, and the implementation of cost saving measures. The fundraise includes a placing of GBP336,000 at a price of GBP0.004 per share, with warrants exercisable at GBP0.005 per share. It also includes a broker option to allow existing shareholders to participate in the fundraise on the same terms, up to a further GBP300,000. If received in full, 159 million new shares will be issued. Corcel adds that in light of challenging macroeconomic conditions and declining equity markets, it plans to implement cost saving measures. This includes a 50% reduction in all director remuneration for a period of three months as well as similar changes across the business. Corcel currently has a market capitalisation of GBP1.6 million.
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By Eric Cunha; ericcunha@alliancenews.com
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