TechMARK movers: Innovation up on contract win

Property and insurance software group Innovation rallied on news that it has won a contract with a large UK retail bank for both a policy processing software licence and conversion services.The total value of the contract is estimated to be a minimum of £3.7m. The group said the software licence element of £2m will be recognised in September 2009, underpinning current year expectations, with the remaining services revenue recognised during 2010 and 2011.'We are further cheered by the fact that a major player in the UK retail banking sector, one of the world's most competitive, has signed a multi-year year services contract,' said chief executive Hassan Sadiq.Scar-reduction specialist Renovo is leading the fallers. The group announced it may cut its headcount by just over one third after it said it is no longer in bid talks.The executive directors of Renovo, which received a bid approach in April, have agreed to accept no pay increase this year and to defer any 2009 cash bonus award under the current plan to the time of reporting of the first Juvista EU PhIII trial (on schedule for H1 2011) and additionally to make the payment of this bonus contingent on a positive outcome of that trial.The board will be further reduced in size and Dr David Ebsworth and Dr Art Rosenthal have resigned as Non Executive Directors effective from the next Annual General Meeting.FTSE TechMARK - RisersInnovation Group (TIG) 12.75p +13.33%Antisoma (ASM) 33.50p +11.67%AEA Technology (AAT) 33.50p +6.35%KCOM Group (KCOM) 32.75p +5.65%Intec Telecom (ITL) 92.75p +5.10%Trafficmaster (TFC) 38.75p +3.33%Biocompatibles International (BII) 192.00p +3.23%Psion (PON) 115.00p +2.91%Sinclair Pharma (SPH) 38.00p +2.70%Kewill (KWL) 100.00p +2.56%FTSE TechMARK - FallersRenovo Group (RNVO) 25.50p -8.11%ProStrakan (PSK) 123.75p -4.81%Parity Group (PTY) 17.25p -2.82%Alterian (ALN) 161.00p -2.42%Vislink (VLK) 27.25p -1.80%Xaar (XAR) 97.00p -1.52%Anite Group (AIE) 35.00p -1.41%Filtronic (FTC) 37.25p -1.32%Kofax (KFX) 142.50p -1.21%Axis-Shield (ASD) 420.00p -1.18% Team Internet