(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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Sondrel Holdings PLC, up 48% at 6.80 pence, 12-month range 2.70p-77.00p. The Reading, England-based semiconductor design services firm raises GBP5.6 million from a subscription of 56.3 million new shares at a price of 10 pence each by ROX Equity Partners Ltd. Sondrel also notes its loan agreements with ROX entered into March will be converted into 28.7 million further new shares.
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AIM - LOSERS
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Zytronic PLC, down 14% at 53.75p, 12-month range 50.00p-105.00p. In the six months ended March 31, the Tyne & Wear, England-based touch sensors manufacturer says revenue falls to GBP3.3 million from GBP4.7 million a year earlier, while pretax loss narrows to GBP615,000 from GBP897,000. Chair Chris Potts comments: "The board is cautiously encouraged by the observed improvement in the group order intake during the last several months and the progression of business development activities, which are now firmly re-established with customers and partners showing interest in our innovative product solutions. While it is too early to call this the start of a sequence of recovering quarters, it does give some grounds for optimism while we undertake a formal business and operational review process, to establish an enhanced strategic direction for the group, for the benefit of all stakeholders. A core objective remains the return to positive cash generation and growth over the medium term."
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Pennant International Group PLC, down 6.6% at 28.95p, 12-month range 24.50p-41.00p. The Cheltenham, England-based provider of training technologies and product support for various industries including defence and aerospace says trading in the year to date has been in line with the board's expectations. It notes, however, that it has incurred "exceptional, non-recurring" costs of around GBP300,000 in relation to aborted corporate activity. Pennant International also announces that its Chair Philip Cotton has decided to step down now, rather than retiring at the next annual general meeting as previously announced. This allows Chair Designate Ian Dighe to assume the position with immediate effect. Dighe comments: "The board would like to thank Phil Cotton for his five years of service and we wish him all the best for the future. The process to find a new independent non-executive director with skills that complement the existing board is commencing."
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By Greg Rosenvinge, Alliance News senior reporter
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Sondrel Plc (SND)
Zytronic (ZYT)
Pennant International (PEN)