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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Manx Financial Group PLC, up 27% at 28.55 pence, 12-month range 7.50p - 29.75p. The financial services firm reports a record set of annual results in 2022 despite a ‘negative’ economic environment, with higher interest rates and higher inflation. Pretax profit jumps 71% to £5.2 million in 2022 from £3.0 million in 2021. Net interest income climbs 35% to £24.4 million from £18.0 million. Interest revenue, calculated using the effective interest method, rises to £29.0 million from £21.0 million. Executive Chair Jim Mellon says the year’s financial performance set a record despite continued economic uncertainty. Looking forward, Mellon says the company is well-positioned to support growth in profitability in 2023.
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SpaceandPeople PLC, up 9.2% at 72.60 pence, 12-month range 62.50p - 159.00p. The company reports that trading in the second half of 2022 was strong and has continued into early 2023 in both the UK and Germany despite rail strikes. Revenue for the full-year is in-line with expectations at £5.5 million. Company says it looks forward to increases in revenue and profitability in 2023. SpaceandPeople has a database of internal and external spaces within shopping centres and retail parks for food traders to book in the UK.
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AIM - LOSERS
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Eqtec PLC, down 24% at 0.22 pence, 12-month range 0.21p - 1.25p. The waste-to-energy firm conditionally raises £3.5 million before expenses through a placing via direct subscriptions with institutional and other investors at a price of 0.22 pence per unit. One unit represent one share of €0.001 in the company and one half of one share purchase warrant. The placing price represents a discount of approximately 23% from the closing price of the company’s shares on AIM on Monday. The company also announces the reprofiling of existing loan facilities, including the conversion of existing debt into equity and the settlement of strategic supplier fees in new shares, in each case at the same placing price. The company appoints Global Investment Strategy UK Ltd as its placing agent to raise up to an additional £550,000 via a broker option. The net proceeds from the Placing will be used for progressing Market Development Centres, maintaining business continuity and driving new research & development, Eqtec says.
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Engage XR Holdings PLC, down 10% at 3.50 pence, 12-month range 3.45p - 20.00p. Gives Euronext Dublin notice of its intention to cancel the admission of its shares to trading on the Euronext Growth Market. The last day of trading will be April 18, with cancellation taking effect on April 19. The cancellation will have no effect on the company’s trading on the AIM market of the London Stock Exchange. ‘It is anticipated that maintaining a sole listing on AIM will concentrate liquidity on one trading venue,’ the virtual reality software company explains.
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