(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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Quadrise Fuels International PLC, up 27% at 1.56 pence, 12-month range 1.1p-2.85p. The residual oil technology licensor updates on its Moroccan material transfer & cooperation agreement. The company confirms the MSAR fuel for the forthcoming trial has been cleared at Moroccan customs, and is now on its way to the client's facility. It is now finalising the trial schedule with its client, and expects fuel trials to begin before the end of the current quarter.
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Sigma Roc PLC, up 8.5% at 57.5p, 12-month range 36p-86.88p. The quarried materials company raises around GBP30 million via placing and subscription of shares at issue price of 54 pence per share. Proceeds will fund identified strategic acquisitions and organic growth investment projects. Potential acquisition targets include 10 companies for a total GBP39 million and a further "four organic growth and carbon footprint reduction projects" for a total GBP8 million. Issue price was at a 1.8% premium to the 53p closing price on Wednesday.
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Star Phoenix PLC, up 81% at 2.35 pence, 12-month range 0.3p-2.6p. Shares in the oil and gas company focused on Trinidad and Indonesia continue to surge, after the company was restored to trading on AIM on Wednesday. This had followed the publishing of its delayed annual results for its year to June, which it released on Tuesday. Its shares had been suspended since January. In its financial year, pretax loss narrows to USD1.2 million from USD1.9 million from a year earlier. Posts no revenue, unchanged from a year earlier.
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AIM - LOSERS
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Invinity Energy Systems PLC, down 14% at 32p, 12-month range 19.64p-104.5p. The utility-grade energy storage manufacturer raises GBP21.5 million in a placing and subscription of new shares. Issue price of 32p represents a 14% discount to closing price of 37p on Wednesday. The proceeds from the proposed placing are expected to provide it with sufficient working capital to the end of June 2024.
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Tribal Group PLC, down 9.1% at 47.9p, 12-month range 37p-96p. The educational software provider says discussions with customer for Singapore contract have "not progressed satisfactorily" and the parties remain in a "significant disagreement" over the details of the contract. No longer expects solution in the near-term. In December, Tribal said the delay on implementing the Singapore contract had substantially increased ongoing costs and led to lower recognisable revenue.
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By Elizabeth Winter, Alliance News senior markets reporter
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