(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Sareum Holdings PLC, up 17% at 3.04 pence, 12-month range 1.20p-3.38p. The specialist drug development company says it has raised GBP900,000 through a subscription by a "high net worth individual" for 32.1 million new shares at a price of 2.8p per share. Says net proceeds from the Subscription will be used to progress the company's SDC-1801 TYK2/JAK1 inhibitor drug development programmes as well as for working capital purposes.
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Springfield Properties PLC, up 14% at 170.30p, 12-month range 105.00p-172.00p. The housebuilder says sales activity in the first half of the year has been sustained throughout the year and is continuing to experience high demand across the business. As a result, expects annual revenue and profit to be ahead of market expectations, reflecting significant year-on-year revenue growth.
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M&C Saatchi PLC, up 13% at 144.50p, 12-month range 68.00p-183.79p. The advertising agency says it has seen "stronger than anticipated" trading for year's first four months. As such, it expects annual results to be ahead of expectations.
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i3 Energy PLC, up 12% at 8.38p, 12-month range 4.65p-11.00p. The UK and Canada-focused oil & gas company swings to pretax profit in 2020 of GBP10.6 million from GBP10.9 million loss in 2019. It posts revenue of GBP13.0 million, up from nothing the year before.
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AIM - LOSERS
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Sound Energy PLC, down 15% at 1.48p, 12-month range 1.02p-4.72p. The Moroccan-focused upstream gas company says it has received a notification from Morocco's tax authority related to an audit. Sound says its subsidiary Sound Energy Morocco East has received notification by the Moroccan General Tax Administration of a reassessment in respect of Moroccan taxes related to 2016 to 2018. Sound Energy "entirely refutes" the position of the Moroccan tax authority, saying it is speaking to the government to seek a satisfactory conclusion to the matter. Says local tax committee hearing is on Thursday, but the process can take 12 months.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Sound Energy (SOU)
Springfield Pr. (SPR)
Sareum (SAR)
I3 Energy (I3E)
M&C Saatchi (SAA)