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Pin to quick picksR&Q Insurance Share News (RQIH)

Share Price Information for R&Q Insurance (RQIH)

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AIM WINNERS & LOSERS: SIMEC shares rise as Naru facility passes tests

Mon, 24th May 2021 10:34

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

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AIM - WINNERS

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SIMEC Atlantis Energy Ltd, up 35% at 8.29 pence, 12-month range 4.5p-33p. The renewable energy producer says that its tidal power generation facility in Naru Island, Japan, has passed the government's pre-use inspection tests. "The site, which features the AR500 tidal turbine, is now recognised as an official power generation facility," company says. Separately, SIMEC says it submitted a 'Statement of Case' for Uskmouth to the planning inspectorate on Friday. "The next step in the 'call in' process is for the planning inspectorate to conduct a review of the environmental statement for the Uskmouth Conversion Project and SAE is looking forward to feedback in due course," it says.

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Wameja Ltd, up 22% at 7.46p, 12-month range 4.2p-7.8p. The software company says that sunset date for scheme of arrangement proposed under deal with Burst Acquisition Co Pty Ltd, a company controlled by Mastercard, has been extended to June 18. "The extension is to provide additional time for the documentation and execution of agreements to resolve the potential indemnity claims as announced on 23 October 2020 and 5 November 2020. Wameja understands from Mastercard that agreement in principle has been reached with all relevant parties to resolve the potential indemnity claims," it says. Back in September 2020, Wameja agreed to a takeover by MasterCard in a deal which valued the fintech company at GBP96.9 million. The two companies currently partner up as part of the HomeSend payment hub programme.

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Cloudcall Group PLC, up 7.3% at 74.00p, 12-month range 64.54p-117p. The provider of unified communications and contact centre software confirms trading for 2021 so far is in line with board expectations. "With both new business sales and upsells now running above pre-pandemic levels, revenue and platform usage is climbing steadily so that monthly recurring revenue, SMS and voice minutes are all at record highs and net renewal rates are back above 100%," says Chief Executive Simon Cleaver.

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AIM - LOSERS

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Randall & Quilter Investment Holdings, down 7.7% at 157.82p, 12-month range 123.2p-194.8p. The firm focused on non-life legacy insurance and program management reports pretax profit of GBP30.2 million for 2020, down from GBP38.1 million the year before. Profit fall primarily due to a mix of Legacy Insurance acquisitions in 2019 that created significant non-cash intangibles. However, does report record pretax operating profit of GBP16.0 million. Declares dividend for year of 4p, up from 3.8p. "The growth in the Legacy Insurance business may require external capital in the near term until our Program Management business creates enough free cash flow to support this need. During this period, while we are in growth mode and remain capital consumptive, we will adopt a progressive cash dividend policy with a payout ratio between 25% and 50% of our pre-tax operating profit, the best proxy for cash earnings," company says.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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