(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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CyanConnode Holdings, up 18% at 7.83 pence, 12-month range 1.25p-9.40p. The narrowband radio frequency smart mesh networks provider says revenue for the 12-month period to March 2021, was around 2.5 times the 15-months to March 2020 of GBP2.5 million - exceeding market expectations.
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Universe Group, up 17% to 5.50p, 12-month range 2.80p-6.40p. The retail management, payment and loyalty systems provider inks a five-year extension to a Europe-wide contract with a major international oil and gas firm. The extension is likely to 'further visibility for the group over future revenues'. Universe also announces that it is progressing with a separate project for another existing customer, currently in its pilot stage.
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Synectics, up 8.2% at 146p, 12-month range 86p-159.50p. The provider of security systems says it has been awarded a "multi-million-pound project" by the City of London Corp and the City of London Police as part of their Secure City Programme.
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AIM - LOSERS
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Hurricane Energy, down 24% at 2.75p, 12-month range 2.54p-15.64p. The UK-focused oil & gas firm says there is "no certainty of any future activity" on its West of Shetland assets by ERC Equipoise Ltd, including its flagship Lancaster field, following a new reserves report. Hurricane Energy also says it is continuing to talk with a group of its convertible noteholders over its forward work programme, strategy, financing and balance sheet recapitalisation. Hurricane notes that there was a risk of dilution to existing shareholders from a potential restructuring or partial equitisation of the bonds.
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iGas Energy, down 8.1% at 6.26p-30.82p. The oil and gas company says 2020 was an "exceptionally difficult year". Says 2020 revenue was down 47% to GBP21.6 million from GBP40.9 million, though pretax loss narrows to GBP44.1 million from GBP59.1 million.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Cyanconnode (CYAN)
Synectics (SNX)