(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Futura Medical PLC, up 31% at 58.92 pence, 12-month range 11.1p-84p. The pharmaceutical company receives its MDR EU Quality Management Certificate for MED3000, a treatment for erectile dysfunction. "The CE mark approval of MED3000 from the EU Notified Body paves the way for approval in many countries around the world, including in the Middle East, Africa, the Far East and Latin American regions which allow 'fast-track' review based on recognition of the EU CE mark," company notes.
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Genedrive PLC, up 24% 90.00p, 12-month range 38.33p-302.6p. The molecular diagnostics firm says the Genedrive 96 SARS-CoV-2 Kit has been formally approved by the Indian Council of Medical Research. Kit achieves 100% sensitivity and 100% specificity in the performance evaluation conducted by the ICMR. "The company will now commence commercial activities in India through its existing distributor Divoc Health and will also be seeking additional routes to the market," it says.
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AIM - LOSERS
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Hurricane Energy PLC, down 52% at 1.1p, 12-month range 1p-12.7p. The UK-based oil & gas company enters into a lock-up agreement with an ad hoc group of bondholders supporting a transaction that will "materially deleverage" company's balance sheet, enhance liquidity position and extend its debt maturity profile. Company will execute a debt for equity conversion and a revised business strategy. "This has been a difficult period for Hurricane and its stakeholders. Following the significant downgrade to Lancaster Field reserves and future production profiles, coupled with oil price volatility, current financial projections show we will not be in a position to repay our convertible bonds at maturity from Lancaster Field cash flows," says Chief Executive Antony Maris, adding: "We acknowledge that this proposed course of action entails significant dilution for our existing shareholders, but it marks an important and necessary step in the company's efforts to secure a viable capital structure."
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FireAngel Safety Technology Group PLC, down 12% at 19.7p, 12-month range 10p-30p. The home safety products maker plans open offer of shares to raise up to GBP6.9 million on basis of 10 open offer share for every 33 existing ones at an issue price of 18p, with this price representing discount of 20% to Thursday's closing price of 22.4p. In separate release, reports fall in 2020 revenue to GBP39.9 million from GBP45.5 million in 2019, but pretax loss narrows to GBP9.3 million from GBP11.0 million. "There is now a clearer path out of the Covid-19 related restrictions, and while some uncertainty remains, the board is targeting improved performance and sales growth in 2021 versus 2020," FireAngel says.
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By Lucy Heming; lucyheming@alliancenews.com
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