5th Nov 2024 10:38
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.
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AIM - WINNERS
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Aferian PLC, up 69% at 5.5 pence, 12-month range 2.5p-12.5p. The business-to-business video streaming company expects to report second-half revenue, for the year ending November 30, that's around 20% than the USD12.2 million it reported for the first half. Also expects positive adjusted Ebitda of about USD2 million, thanks to revenue growth "plus cost reduction actions taken earlier in the year". Still anticipates net debt reduction by the end of the year, "as cost savings and working capital initiatives implemented in the first half generate improvements in free cash flow". CEO Mark Carlisle hails "the strong performance...with increased sales orders and new business wins across the group". Says Aferian is "well-positioned to close the year on a positive note and drive sustained growth into the future".
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Bigblu Broadband PLC, up 24% at 31.5 pence, 12-month range 25.5p-45p. Confirms, in response to "the Australian media speculation", that it is in discussions with Melbourne-based alternative investment manager Salter Brothers regarding a potential transaction involving its subsidiary SkyMesh. The London-based broadband service provider says the potential deal "is in line with the Board's stated strategy to assess all options to realise value and maximise returns for shareholders from its operating assets". SkyMesh, which provides internet connectivity services to customers in regional and rural Australia, is headquartered in Brisbane.
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AIM - LOSERS
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Synergia Energy Ltd, down 22% at 0.0525p, 12-month range 0.0525p-0.175p. The gas production and carbon capture firm has completed an equity issue of 2.02 billion new shares at 0.05p each, pursuant to a GBP632,500 capital raise through a placing; converting GBP295,740 of loans into shares; and equity settlement of GBP82,350 in fees owed to advisers. Says capital raise "will act as a bridge to the expected increased cashflow from the Cambay [production sharing contract], and the targeted farm out of the [ Medway Hub Camelot] [carbon capture & storage] project". Selan Exploration Ltd, to which Synergia farmed out a 50% interest in the PSC for India's Cambay gas field, has commenced a USD20 million work programme. At the UK-based CCS project, "solid progress is being achieved" on site characterisation and assessment.
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By Emma Curzon, Alliance News reporter
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