(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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Mercantile Ports & Logistics Ltd, up 33% at 0.72 pence, 12-month range 0.2p-0.95p. Restructures debt facility with lenders that "both takes into account the significant progress made with business at its Karanja port and logistics facility while also recognising the acute disruption in India caused by the Covid-19 pandemic". Debt interest rate lowered to 9.5% per year from 13.5% previously, and there will be a moratorium on interest rate payments until February 2022 in recognition of the severity of the pandemic in India. "The restructured debt facility is testament to the growing strength of MPL's business. The opportunities now available to MPL are significant and it is very pleasing to note that our consortium of banks endorse our business," says Chair Jeremy Allen.
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Zephyr Energy PLC, up 9.4% at 4.93p, 12-month range 0.41p-5.11p. Says S-Bar wells have been placed into production ahead of anticipated schedule and the Feehan wells are expected to be placed into production within the next month. Zephyr completed the acquisition of non-operated working interests in the wells in March. Wells located in the Williston Basin, North Dakota, US. "We have a great deal of activity going on across our project portfolio and I'm delighted with how everything is progressing. We are particularly gratified that Whiting, the operator of five of our Williston wells, worked to accelerate the completion and production dates on the four DUC wells," Says Chief Executive Colin Harrington.
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AIM - LOSERS
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Best of the Best PLC, down 20% at 2,100p, 12-month range 1,088.84p-3,570p. Reports surge in pretax profit for financial year ended April 30, to GBP14.1 million from GBP4.2 million, though notes it has seen "somewhat of a reduction in customer engagement" since easing of lockdown restrictions on April 12. "We are closely monitoring this, but with our flexible model, growth strategy and plans for the year ahead, we expect customer engagement to return to normal levels before too long," the London-based car and lifestyle competition company says.
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N Brown Group PLC, down 9.8% at 57.1p, 12-month range 32p-81.6p. Says Allianz Insurance PLC seeking to increase scope of its original claim in relation to a further customer redress exercise yet to be undertaken. Allianz estimates the value of this additional element of the claim, should it be successful, to be up to GBP36 million.
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Renold PLC, down 8.3% at 22.93p, 12-month range 7.75p-29.9p. Says auditors have requested additional time to complete audit process and, as a result, Renold will not publish results for the year ended March 17 on Thursday as previously advised. "The board confirms that trading for the year ended 31 March 2021 was in line with its previous expectations and that expectations for the current year are unchanged," it adds.
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By Lucy Heming;Â lucyheming@alliancenews.com
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Renold (RNO)
Brown Group (BWNG)
Mercantile Ports & Logistics (MPL)
Zephyr Energy (ZPHR)