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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Croma Security Solutions Group PLC, up 15% at 64 pence, 12-month range 48.8p-95p. The security services provider announces plans to dispose of its Vigilant guarding division, to refocus on developing its high-margin and cash-generative Locks and Systems businesses. ‘The strategy of combining Locks and Systems with the Vigilant manned guarding division has not generated the opportunities for cross-marketing and cross-sales that had been expected,’ Croma explains. Croma’s executive chair, Sebastien Morley, is part of Vigilant’s management team, which has expressed an interest in acquiring the division. To pursue this, Morley has agreed to step down from the board at the end of the day’s annual general meeting.
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Vela Technologies PLC, up 13% at 0.02p, 12-month range 0.02-3.26p. The early-stage investment firm says it has generated £349,469 in net proceeds from the disposal of 568,653 shares in electronic chip maker EnSilica PLC, between May 24 and December 2. From this, Vela expects a realised gain of £90,984 in the financial year ending March 31. It retains a 1.6% stake in EnSilica. Vela will use the proceeds to make further investments, and as working capital. EnSilica shares were down 0.8% at 75.40p.
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Oxford Metrics PLC, up 9.4% at 99p, 12-month range 73.44p-127p. The software company reports a strong net cash position and increases dividends, despite a weaker annual profit performance. Net cash at September 30 trebled to £67.7 million from £23.0 million a year before, after the sale of Yotta to Causeway Technologies for £52.0 million in May. The firm declares a dividend of 2.5p, up 25% year-on-year. Pretax profit in the financial year that ended September 30 was £2.7 million, down 25% from £3.6 million a year earlier. Revenue was up 4.5% to £28.8 million from £27.6 million.
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AIM - LOSERS
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Versarien PLC, down 34% at 10.62p, 12-month range 10-32.57p. The engineering materials company falls as it raises £1.9 million in a placing of 18.5 million shares at 10p each. This is a discount of 38% to its closing price of 16.0p on Monday. ‘These funds will allow the company to focus on the significant opportunities it is seeing in the construction and leisure sectors. While we will continue to review projects in other sectors, the Board believes these two areas represent the best opportunities for near term commercial success,’ says CEO Neill Ricketts.
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ADVFN PLC, down 20% at 38.17p, 12-month range 33p-88p. The operator of financial information websites for private investors said revenue fell 13% year-on-year to £7.8 million in the year ended June 30, from £9.06 a year before. ADVFN swings to a pretax loss of £1.4 million from a profit of £1.6 million. The loss is down to several non-recurring items incurred during the year, including a settlement of £830,639 to its former chief executive Clement Chambers upon his resignation, as well as legal costs of £106,200 from settlements reached with two other outgoing directors. The firm does not propose a dividend. ‘There are several areas of the company that need to be strengthened and this is uppermost in the board’s thinking,’ says Non-Executive Chair David Gold.
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