(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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Aptamer Group PLC, more than doubles to 25.03 pence, 12-month range 8.00p-100.00p. The biotechnology firm reports success in the development of Optimer binders to enable a lateral flow test for the early diagnosis of Alzheimer's disease. "We are pleased to be able to support the team at Neuro-Bio with the development of Optimer binders to enable their revolutionary diagnostic for Alzheimer's disease. Optimer binders have proven performance in lateral flow test formats and our success in delivering functional Optimer binders to Neuro-Bio's biomarker facilitates further diagnostic development," says Interim Chief Executive Rob Quinn. Last month, Arron Tolley left as chief executive with immediate effect, with Quinn - who had been chief financial officer - taking over as interim CEO.
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Barkby Group PLC, up 40% to 5.24 pence, 12-month range 3.20p-12.00p. The investment firm says its subsidiary, Cambridge Sleep Sciences, has signed a new partnership and license agreement with Bowers & Wilkins, part of the consumer audio division of medical technology firm Masimo. The agreement enables SleepEngine technology, developed by CSS, to be delivered through Bowers & Wilkins Audio's products. Masimo Consumer Audio will be responsible for marketing and distributing SleepEngine. CSS and Bowers & Wilkins will share the revenue generated from the new service.
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AIM - LOSERS
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GCM Resources PLC, down 29% at 3.00 pence, 12-month range 2.45p-7.88p. The Bangladesh-focused resource exploration and development company raises GBP500,000 through a placing, and says it will need to carry out an additional fundraise before the end of the year. The firm places 20.0 million shares at 2.5 pence each. This represents a 41% discount to the closing price of 4.25p on Tuesday. GCM says the net proceeds of the placing are for "general working capital purposes." Looking ahead, GCM says it will need to carry out an additional fundraise before the end of 2023 to fund its working capital into 2024.
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San Leon Energy PLC, down 30% at 15.69 pence, 12-month range 15.56p-57.78p. The Nigeria-focused oil and gas producer updates on its proposed refinancing and its current financial situation. Says it is continuing discussions relating to an alternative USD50 million loan facility to be used for conditional investments in Energy Link Infrastructure (Malta) Ltd and to support the company's working capital requirements. Notes that the proposed refinancing has not progressed as fast as expected. Adds that though the discussions are at a "very advanced stage" it has not yet been able to access the funding from such an alternative loan facility. Consequently, San Leon has received "very limited" cash inflows. The company currently has approximately USD10.5 million of unpaid creditors, including directors, employees, professional advisers and tax authorities. Reassures that it is confident that following the proposed refinancing being successfully concluded, all creditors will be settled in full shortly afterwards.
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By Heather Rydings, Alliance News senior economics reporter
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Aptamer Group (APTA)
GCM Resources (GCM)
San Leon (SLE)