(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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Caspian Sunrise PLC, up 52% at 4.41 pence, 12-month range 2.05p-5.90p. The mining royalty company says a workover of Well 142 on the MJF structure in Kazakhstan was successful, adding 1,400 barrels of oil per day to output at the wider BNG asset. "Well 142 was one of the first to be drilled on the MJF structure. It was drilled to a depth of approximately 2,500 meters in 2016 and produced steadily over a number of years with periodic conventional workovers," Caspian adds.
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Newmark Security PLC, up 13% at 40.00 pence, 12-month range 0.67p-50.00p. Shares in the security services provider continue to rise. On Tuesday, it said revenue for the year ended April 30 improved and it expects its loss to narrow in the second half due to a programme of cost management and increased prices to mitigate the hit from higher input and freight costs. In the first half of financial 2022, it generated a pretax loss of GBP879,000.
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Tekmar Group PLC, up 6.9% at 38.50 pence, 12-month range 34.00p-59.00p. The Darlington-based offshore energy industry services provider wins a deal to provide an integrated engineering solution for an offshore wind farm in the US in 2023.
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AIM - LOSERS
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Randall & Quilter Investment Holdings Ltd, down 32% at 94.95p, 12-month range 1.21p-142.00p. The stock tumbles after suitor Brickell PC Insurance Holdings LLC alleges that R&Q is in breach of an implementation agreement. Brickell is exercising its right to cancel the acquisition of R&Q. R&Q does not agree that it has committed any breaches and believes Brickell does not have the right to cancel the deal. R&Q accepted a GBP482 million takeover by Brickell back in April. R&Q now has a market capitalisation of GBP259.2 million.
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By Eric Cunha; ericcunha@alliancenews.com
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Caspian Sunrise (CASP)
Newmark Security (NWT)
Tekmar Group P. (TGP)
R&Q Insurance (RQIH)