Synairgen Share News (SNG)

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

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AIM - WINNERS

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Solid State PLC, up 14% at 200.00 pence, 12-month range 100.00p-308.00p. The electronics supplier for industry and defence announces it has received a USD25 million order for communications equipment "under a prominent defence order programme". It will be delivered in the next financial year, which concludes in March 2026. "This order was previously expected to be received and delivered in FY24/25, however as announced in November 2024, it was put on hold following the change in the UK government and pending the outcome of the strategic defence review. Whilst the defence review is expected to report in the spring, this order has been approved by exception," Solid State says. "Given recent geo-political developments, and in light of this order, the company intends to increase investment in the group's production capabilities in both the USA and the UK to accelerate medium term organic growth opportunities within the defence & security sector."

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AIM - LOSERS

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Synairgen PLC, down 34% at 1.32p, 12-month range 1.22p-10.00p. The respiratory biotech company plans to exit the AIM market after failing to secure the funds it pursued. Synairgen had looked to raise at least GBP2.9 million, in addition to a GBP18 million subscription from TFG Asset Management UK LLP. It explained that while GBP2.2 million worth of commitments were received, it did not meet its minimum target, so it is cancelling its AIM admission as a result. "The board believes that the cancellation is in the best interests of the company and its shareholders as a whole," it says.

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Facilities by ADF PLC, down 27% at 20.44p, 12-month range 18.40p-58.00p. Shares hit this 12-month low on Tuesday, as it warns on earnings. "Whilst at this early stage in the year revenue and profitability for FY25 are expected to be materially below current market expectations," it cautions. It puts market expectations for adjusted earnings before interest, tax, depreciation and amortisation at GBP15.8 million and forecasts for revenue at GBP56.8 million. The provider of production facilities for the film and television industry expects to report 2024 revenue of GBP35.2 million, with a GBP2.6 million boost from its Autotrak Portable Roadways acquisition done in September. The wider business achieves revenue that was "broadly flat" from GBP34.8 million in 2023. This was due to project delays following the Writers Guild of America and Screen Actors Guild - American Federation of Television & Radio Artists strikes from May to November 2023.

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By Eric Cunha, Alliance News news editor

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