(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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Hurricane Energy PLC, up 20% at 3.36 pence, 12-month range 0.59p-6.81p. The Surrey, England-based oil and gas company says its chair and four non-executive directors have resigned on Wednesday, after a court rejected the company's restructuring plan. Says its chair, Steven McTiernan, and non-executive directors - John van der Welle, Sandy Shaw, Beverley Smith and David Jenkins - all resigned with immediate effect. Hurricane said Alan Wright and David Craik have now been appointed as non-executive directors, with Wright assuming the position of interim chair. Hurricane notes Crystal Amber Fund, which owns a 15% stake, now has withdrawn its requisition notice, and the additional general meeting, scheduled for next Monday, has been cancelled.
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Immotion Group PLC, up 18% at 6.00p,12-month range 1.60p-6.90p. The Manchester, England-based entertainment company says it made a small earnings before interest, tax, depreciation, and amortisation profit in May followed by a substantial Ebitda profit in June. This has been driven by further growth in the revenue of its Location Based Entertainment sites, it notes. "With the busy summer months ahead of us, and further installs in the pipeline, we expect the third quarter to be a period of very strong trading," it adds.
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AIM - LOSERS
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Catenae Innovation PLC, down 30% at 0.96p, 12-month range 0.91p-8.50p. The digital media & technology provider says short-notice changes to the UK government's pandemic strategy meant that "commercial traction was impeded". For six months to March 31, posts revenue of GBP12,908 from GBP4,521 prior year and pretax loss widens to GBP587,000 from GBP356,000.
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Tricorn Group PLC, down 21% at 6.50p, 12-month range 5.00p-9.00p. The tube-manipulation specialist says it is considering funding options, as borrowing facilities alone will not be enough to provide it with necessary cash to return to profitable cash generation. Tricorn's pretax loss in 18 months to September 30 widens to GBP7.7 million from GBP950,000 profit in financial 2019.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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