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0.365 0.015 (4.29%)

Bid:

0.35

Ask:

0.38

Spread: 0.03 (8.571%)

Market Cap: £5.87m

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AIM WINNERS & LOSERS: Maintel sinks after loss and pausing dividend

Wed, 02nd Jun 2021 11:39

(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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Quantum Blockchain Technologies PLC, up 19% at 1.52 pence, 12-month range 0.18p-4.49p. The investment company enters one-year service agreement with unnamed cryptography expert, whose specialism is cryptocurrency mining blockchain optimisations. Says aim of work is to improve the efficiency of bitcoin mining, targeting a material reduction in energy usage and faster hash processing, which will increase the probability of successful mining. Company intends to apply for patents over any relevant intellectual property generated from the process.

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Active Energy PLC, up 14% at 0.79p, 12-month range 0.38p-1.94p. The biomass based renewable energy company confirms first production of CoalSwitch at Ashland, Maine facility. CoalSwitch is a second generation biomass fuel intended to replace traditional coal.

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AIM - LOSERS

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Maintel Holdings PLC, down 13% at 300.00p, 12-month range 270.00p-437.00p. The communications service provider says that it had paused dividend payments, as it reports a loss and reduced revenue. Maintel swung to a pretax loss of GBP2.2 million for 2020, compared to a profit of GBP1.8 million in 2019. Revenue dropped 13% year-on-year to GBP106.4 million from GBP122.9 million, as a result of project delays related to the pandemic, a reduction in its managed services support base and the loss of a number of legacy contracts in 2019. Given the impact of the pandemic and uncertainty around its potential continuation, the company's board decides to pause dividend payments as part of a wider cost saving programme. This is compared to a payout of 15.1p per share in 2019.

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88 Energy Ltd, down 3.5% at 1.15p, 12-month range 0.24p-4.70p. Shares in the oil and gas company are lower after US President Joe Biden's administration announced Tuesday it was halting petroleum development activity in Alaska's Arctic National Wildlife Refuge, reversing a move by former president Donald Trump to allow drilling. 88 Energy has four projects in the North Slope of Alaska with a combined acreage of around 440,000 net acres.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com