(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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Powerhouse Energy Group PLC, up 6.8% at 4.00 pence, 12-month range 2.35-10.35p. The company, which transforms plastics and waste into clean energy, notes PEEL NRE plans to develop a second waste plastic to hydrogen site at the Rothesay Dock. The dock is located on the north bank of the River Clyde, West Dunbartonshire in Scotland. "The 13,500 tonne facility will be the second in the UK to use pioneering DMG technology developed by Powerhouse, after plans for a similar facility at Peel NRE's Protos site in Cheshire were approved in 2019," Powerhouse explains.
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AIM - LOSERS
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Falanx Group Ltd, down 4.8% at 1.00 pence, 12-month range 0.81p-1.76p. The cyber security and strategic intelligence services said its performance in its most recently ended financial year was hurt by delays associated with coronavirus pandemic. Falanx said revenue totalled GBP5.2 million for the year ended March 31, down from GBP5.8 million posted the year before, due to Covid-19 delays in the first half. Despite that, Falanx said it expects to report reduced a loss at an adjusted earnings before interest, tax, depreciation and amortization level for the year due to tight cost control. Going forward, Falanx said trading for the first four months of the current financial year has been encouraging and is in line with management's expectations.
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SDX Energy PLC, down 10% at 13.02 pence, 12-month range 13.02p-19.45p. Hits 12-month low as drilling at the HA-1X exploration well on the Hanut prospect at South Disouq in Egypt showed the Basal Kafr El Sheikh sand had been eroded but noted good quality sands were found at the Qawasim level, however they were not charged with gas. Chief Executive Mark Reid said: "Whilst the result of this well is disappointing, I remain positive about the remaining prospectivity in the area which has not been materially impacted."
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TMT Investments PLC, down 10% at USD9.00, 12-month range USD3.30-USD11.95. The Jersey-based investor in early-stage technology firms said its performance improved over the first half of 2021. Net asset value per share stood at USD7.49 as at June 30, up 23% from USD6.10 reported as of the end of 2020. During the first six months of 2021, the company said it had made USD14.1 million of investments across 13 new and existing portfolio companies. Since the end of June, TMT Investments said it has completed a further seven investments totalling USD8.3 million in new companies, namely Collectly, VertoFX, MetroSpeedy and Academy of Change, and existing companies, Postoplan, Novakid and Backblaze.
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By Paul McGowan; paulmcgowan@alliancenews.com
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Powerhouse Ener (PHE)
SDX Energy (SDX)
Tmt Investments (TMT)