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AIM WINNERS & LOSERS: Zinnwald Lithium up on GBP19 million fundraise

Thu, 23rd Mar 2023 10:41

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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AIM - WINNERS

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Zinnwald Lithium PLC, up 22% at 10.03 pence, 12-month range 6.50p - 15.00p. The Germany-focused lithium development company completes a fundraise of GBP18.8 million at a placing price of 10.41p per share. AMG, described as a "leading participant in the European lithium industry, has subscribed for 119.0 million to give it a 25% shareholding. Henry Maxey subscribes for 26.3 million shares to maintain his existing 15% shareholding. Mark Tindall subscribes to 8.0 million to increase his shareholding to 4.2%. Tindall and Mazey are described as "significant shareholders" in the firm, according to the company website.

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Sopheon PLC, up 20% at 689.00 pence, 12-month range 475.00p - 719.00p. The software company reports a rise in pretax profit and revenue in 2022, as it maintain its dividend. Pretax profit rises to USD1.3 million from USD1.2 million in 2021. Revenue increases to USD36.8 million from USD34.4 million, in-line with market expectations but ahead on a constant currency basis. Says full-year 2023 revenue visibility stands at GBP28.4 million. At the same time last year, revenue visibility was USD25.1 million. Maintains dividend at 3.25p per share. Chair Andy Michuda notes that the company starts 2023 with a "strong foundation of ARR, a stable of new productions, and a growing sales pipeline." ARR, or annual recurring revenue, is the annual value of all ongoing contracts for SaaS, hosting and maintenance in force at the measurement date including pending renewals but excluding confirmed terminations, Sopheon explains.

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AIM - LOSERS

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Inland Homes PLC, down 21% at 5.76 pence, 12-month range 5.41p - 49.25p. The housebuilder and brownfield developer says it now is in the final stages of commissioning an independent report from a third party that will confirm details of currently questioned transactions, as well as its internal register. As a result, says it will not publish its results before the AIM deadline on March 31, and shares will be suspended on April 3. Restoration will be requested after the publication of the results. Separately, announces it is contemplating a fund raising up to GBP5 million at a price of 10 pence per share.

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Osirium Technologies PLC, down 16% at 2.19 pence, 12-month range 2.00p - 21.00p. The cloud-based cybersecurity and IT automation software vendor says pretax loss widens to GBP3.6 million in 2022 from GBP3.4 million in 2021. Says the loss is due to expenditure levels returning to a more normal level. The main expenditure of the business reflects significant investment in headcount and activity levels in the business's sales, pre-sales, marketing and engineering departments, Osirium says. Revenue increases to GBP1.9 million from GBP1.5 million, in-line with its recently upgraded market expectations. Total bookings jump 86% to GBP3.0 million from GBP1.6 million the year prior. Says its customer base increases by 46% last year, while over 70% of existing customers increase their range of services or number of licences. Looking forward, says it is focused on achieving cashflow breakeven by the second half of 2024 and has now implemented all the cost savings identified at the time of its December's fundraise. Does not recommend a dividend, the same as in 2021.

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By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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