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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Phoenix Global Resources PLC, up 15% at 7.15 pence, 12-month range 3.07p-7.45p. The Argentina-focused upstream oil and gas company proposes delisting from AIM and the Buenos Aires Stock Exchange, providing a ‘cash exit opportunity for shareholders’ in the process. Major shareholder Mercuria Energy Group Ltd, which holds an 84% stake, proposes purchasing shares at 7.5p each under the exit opportunity, a 25% premium to its closing price on June 25, the day before it discussed a potential delisting with Mercuria and a 21% premium to Tuesday’s closing price of 6.20p. Shares set a new 12-month high on Wednesday.
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Osirium Technologies PLC, up 14% at 6.55 pence, 12-month range 4.50p-26.98p. The vendor of cloud-based cybersecurity and IT automation software agrees an extension to a services deal with a ‘global asset manager’. The three-year extension to a privileged access management deal has a total value of £500,000. Osirium says the customer is using the cybersecurity product to protect 4,500 devices.
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AIM - LOSERS
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Zinc Media Group PLC, down 8.6% at 98.25p, 12-month range 56.00p-128.00p. It agrees to buy The Edge Picture Co Ltd, a UK-based brand and corporate film production company, for an initial £1.2 million and also announces a fundraise. The firm raises £5.0 million from a placing of 5.0 million shares at 100p each, a 7.0% discount to its closing price of 107.50p on Tuesday.
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