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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Genedrive PLC, up 22% at 9.79 pence, 12-month range 5p-48.86p. The molecular diagnostics company receives initial orders of its MT-RNR1 hearing loss gene screening products from France, Austria, Greece, Saudi Arabia, Turkey and the Netherlands. Says the orders will support its international distribution partners in promoting and evaluating activities. ‘We look forward to the continued expansion of our international sales throughout 2024 as we drive forward with our sales and marketing strategies and deliver value to our shareholders,’ says CEO James Cheek.
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Angus Energy PLC, up 21% at 0.58p, 12-month range 0.45p-2p. The UK-focused onshore oil and gas developer agrees a £20 million debt facility with Trafigura PTE Ltd to refinance all its existing debt, as well as to fund additional capital expenditure projects to raise production at Saltfleetby field. Trafigura expects a closing date in the first month of 2024. Angus adds that its existing hedge contract will be replaced with a fixed price offtake, with Trafigura acting as offtaker. Says the new funds will accelerate work on gas storage feasibility.
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AIM - LOSERS
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Versarien PLC, down 52% at 0.15p, 12-month range 0.15p-10.16p. The advanced materials engineering group’s stock hits an all-time low, as the firm updates the market on various developments. Says asset sales, which are ‘an integral part of its turnaround strategy’, have not progressed as expected, and guides for a weaker performance in the year ended September 30, than the 18-month period prior to that. Says it has sufficient confidence in its business pipeline to launch an equity raise, but notes it is unable to issue subscription shares below its nominal price of 0.1p under UK company law. It will look to secure funding above the nominal value. However, to facilitate ‘flexibility’ in its funding options, the firm proposes a capital reorganisation to sub-divide each share into one new ordinary share of 0.1p nominal value, and one new deferred share of 0.09p. Shareholders will be able to vote on the proposals at a general meeting on January 10.
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