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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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Deltic Energy PLC, up 18% at 3.20 pence, 12-month range 1.91p-4.38p. The North Sea-focused natural resources investor announces a "significant" gas discovery at Pensacola on licence P2252 in the southern North Sea. "Pensacola could represent one of the largest natural gas discoveries in the southern North Sea in over a decade," the firm says. Its first exploration well points to an estimated ultimate recovery of 302 billion cubic feet.
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Pennant International Group PLC, up 14% at 32.4p, 12-month range 29p-41p. The training technology and product support provider swings to positive earnings before interest, tax, depreciation and amortisation in 2022. Expects around GBP500,000 in Ebitda, compared to negative Ebitda of GBP800,000 in 2021. Enters 2023 "with a real sense of momentum", after re-aligning cost base, improving gross margins, and recording a "healthy" contracted order book in 2022. However, the firm expects revenue to fall to GBP13.7 million in 2022, from GBP16.0 million in 2021.
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AIM - LOSERS
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Sosandar PLC, down 14% at 22.73p, 12-month range 13p-31.69p. The online-focused clothing retailer announces a proposed share placing to raise a minimum of GBP4 million. It will place no fewer than 18.2 million shares at 22 pence each, which is a 17% discount to its closing price of 26.4p on Tuesday. Says there will also be a retail offer for around GBP500,000. The firm will use the funds to invest in stock to further its omni-channel strategy. This increase the provision of its in-store product range with partners such as J Sainsbury PLC.
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Renalytix PLC, down 11% at 109p, 12-month range 44p-427.27p. The kidney health-focused diagnostics company announces a private placement of USD20.3 million in ordinary shares and American depositary shares. The placing price was USD2.17 per ADS, representing two ordinary shares at a price of 90p each. This represents a 27% discount to its closing price of 122.5p on Tuesday. Will use the net proceeds for sales and marketing, clinical product development, as well as corporate support and financing costs.
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By Elizabeth Winter, Alliance News senior markets reporter
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