(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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Trinity Exploration & Production PLC, up 4.7% at 131.90 pence, 12-month range 87.50p-180.00p. Gets approval for the field development plan for the Galeota asset development project from the Ministry of Energy & Energy Industries in Trinidad and Tobago. "The comprehensive and relatively quick approval by the MEEI review team, against the background of the pandemic, is extremely helpful and provides a suitably matured development concept which can be reviewed by potential funding partners as part of the farm-down process," company says.
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AIM - LOSERS
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DX Group PLC, down 39% at 18.19 pence, 12-month range 18.19p-37.30p. Hits 12-month low as the Slough, England-based parcel freight, secure courier and logistics company's shares are set be suspended from trading at the start of the new year after it delays the release of its annual results. "The company's Audit & Risk committee has recently raised a corporate governance inquiry relating to an internal investigation commenced during the financial year ended July 3, 2021. The inquiry has yet to be concluded, and the process will delay the completion of the audit, but will be expedited as quickly as possible," the company said. DX does not expect the investigation to be completed before January 2, 2022, which marks the six-month point after its financial year-end. As a result, its shares will be suspended from trading. "The board remains confident that DX is well-placed to continue to increase its market share and make progress over the new financial year," DX said, noting that trading is in line with board expectations. DX was scheduled to hold its annual general meeting on Thursday, but it says it will adjourn the meeting to a date to be set in December.
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Omega Diagnostics Group PLC, down 30% at 28.10 pence, 12-month range 28.23p-99.50p. Pretax loss in six months to September 30 widens to GBP3.4 million from GBP1.8 million year before, as administration costs rises to GBP4.3 million from GBP2.6 million on account of ramp up of work for contract with UK Department of Health & Social Care. Revenue improves to GBP5.7 million from GBP3.2 million. Notes no test were ever manufactured for DHSC contract. "Whilst we still remain confident that we are well-positioned for future growth, we recognise that many investors will be disappointed in the lack of progress with the DHSC, and uncertainty about their future utilisation of our manufacturing capacity. This is a disappointment that we share," company says. Adds: "Phase 2 of the contract, covering manufacturing, has not been activated and therefore no orders have been placed. We now have confirmation that the contract expired at the end of Phase 1, although both parties remain in dialogue and DHSC are still providing us with access to their Government-funded equipment to provide the infrastructure to grow our businesses."
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By Paul McGowan; paulmcgowan@alliancenews.com
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Trinity (TRIN)