(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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Osirium Technologies PLC, up sharply from 2.5p on Monday at 5.56 pence, 12-month range 2.56p-12p. The cloud-based cybersecurity company says bookings for the nine months to September 30 were up to GBP2.5 million, compared to GBP1.6 million a year before. "We have maintained our focus on attracting new customers alongside expanding with existing customers, as evidenced by our significant, multi-year contract renewals with customers in the financial services and IT sectors previously announced in Q3," says Chief Executive Officer David Guyatt.
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Quantum Blockchain Technologies PLC, up 12% at 1.55p, 12-month range 1.32p-4.07p. The cryptocurrency researcher and investor says a court in Venice issues its final judgement against the previous management and internal audit committee of 'Sipiem in Liquidazione Srl' with regards to the QBT's claim against Sipiem. QBT's wholly-owned subsidiary Clear Leisure 2017 holds the claim. The court rules in favour of CL17 and orders the defendants to pay CL17 EUR6.2 million in damages, and EUR85,499 in legal expenses. The defendants have the right to appeal, QBT notes. "The company will now start the process of collecting the award payment from the defendants. However, considering the size of the award payment and that only one of the two insurers involved in the litigation was held responsible for damages...it is worth noting that there is currently no certainty on the exact amount of the award payment that will eventually be collected by the company and the timing of receipt of any such funds," QBT says.
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AIM - LOSERS
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Westminster Group PLC, down 26% at 1.4p, 12-month rang 0.93p-4.99p. The provider of security services for sensitive places such as ports, airports and commercial buildings says it expects revenue to be around a third lower than market expectations for 2022 and loss before tax to be around half that of 2021. In 2021, Westminster's pretax loss was GBP1.9 million. This is mostly due to "slippage" from a "multi-million pound" technology project for the Middle East & North Africa region. "Whilst we still expect to be awarded the contract this year, we are now running short on time to deliver and recognise revenues in 2022, and accordingly, depending on when the order arrives, some of this revenue is now likely to slip into 2023," Westminster says.
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Bowleven PLC, down 41% at 1.78p, 12-month range 2.5p-6.5p. The Africa-focused oil and gas firm warns of a "significant risk" that its current cash and liquid financial reserves may be fully utilised during 2023. "As was alluded to during our 2021 review, the board will continue to consider its options and engage with various prospective providers of capital, on terms that it deems to be beneficial for existing shareholders," it says. Bowleven says it is most likely that additional equity or debt financing will need to be raised next year. Also reports a widened pretax loss of USD2.5 million in the year to June 30, from USD1.98 million a year before. No revenue is recorded in either year.
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By Elizabeth Winter; elizabethwinter@alliancenews.com
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Osirium Tech (OSI)
Quantum Block (QBT)
Westminster Group (WSG)
Bowleven (BLVN)