15th Dec 2021 10:49
(Alliance News) - 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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Oilex Ltd, up 20% at 0.18 pence, 12-month range 0.060p-0.51p. The oil and gas exploration and production company says a previously imposed order to stop output at the Cambay field has been removed, and it now plans to resume gas production "in the near future". This follows a three-year output suspension in the Indian oil field.
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Midwich Group PLC, up 7.2% at 622.00 pence, 12-month range 420.00p-700.00p. The audio visual technology distributor says its trading has been "stronger than expected" as it heads towards the end of 2021. It is performing particularly well in the UK & Ireland and Europe, Middle East & Africa regions. Midwich expects adjusted pretax profit for 2021 to be no less than GBP30 million, more than doubled from GBP14.2 million and "materially ahead of its previous expectations".
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M&C Saatchi PLC, up 6.8% at 160.22 pence, 12-month range 79.20p-191.00p. The London-based advertising agency tips 2021 operating profit to be "materially ahead of expectations" amid a strong final quarter of activity. "The strong performance was largely driven by new assignments from existing clients, and we expect this continued trend to be reflected in the December results," M&C said.
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AIM - LOSERS
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Eckoh PLC, down 7.7% at 56.75p, 12-month range 46.31p-83.00p. The Hertfordshire-based secure payment and customer contact solutions provider unveils an acquisition and fundraise to partly go towards it. Eckoh will buy secure payment solutions provider Syntec Holdings Ltd for GBP31.0 million, GBP24.7 million of which will be in cash. Eckoh says GBP8.0 million of the cash portion will be funded through existing resources, with the remainder paid for through a placing and debt facility. Eckoh will raise GBP13.7 million through a placing of 25.4 million shares at 54 pence each. "The board believes that the acquisition of Syntec is highly complementary to Eckoh's strategy of having a market leading position in customer engagement data and payment security in a global market," Eckoh says.
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By Eric Cunha; [email protected]
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Related Shares:
Midwich GroupEckoh TechnologiesOEX.LM&C Saatchi