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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Eqtec PLC, up 24% at 0.40 pence, 12-month range 0.26p-1.55p. The Irish gasification company says development of its Italia Market Development Centre in Gallina has overcome ‘a number of unexpected delays’ as key components are delivered on time and service providers are available to support commissioning of equipment. Says the project has raised €1.5 million via shareholder loans and equity from Eqtec and Quainstone Ltd.
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Altitude Group PLC, up 13% at 25.4p, 12-month range 20.50p-36.4p. The promotional products firm gives a positive trading update for the year ending March 31 next year. It says trading will be ‘materially ahead’ of market expectations and anticipates ‘record’ year-end results. Altitude cites market consensus as revenue of £13.9 million and adjusted earnings before interest, tax, depreciation and amortisation of £1.2 million. The expected outperformance is down to ‘strong underlying business performance’, as Altitude expands its Services and Merchanting programmes.
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AIM - LOSERS
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Osirium Technologies PLC, down 37% at 2.53p, 12-month range 2.25p-21p. The cybersecurity firm raises £1.5 million in a placing of 63.8 million shares and subscription issue of 12.8 million shares at issue price of 2p per share. The issue price is half that of its closing price of 4p on Monday. It will use the net proceeds as working capital.
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Clean Power Hydrogen PLC, down 21% at 32p, 12-month range 26p-78p. The green hydrogen technology firm identifies an issue with the design and operation of the cryostat unit within its membrane-free electrolyser 30 test unit. If the issue is confirmed, it will require a retrofit solution to be implemented on the first two units. This will cause a delay in delivering the units to customers. Delivery was initially scheduled for October. Consequently, Octopus Hydrogen has cancelled its order with the firm, and CPH2 has reimbursed Octopus’s deposit.
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