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AIM WINNERS & LOSERS: Harland & Wolff up on vessel contract upgrade

20th Oct 2023 10:15

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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AIM - WINNERS

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Harland & Wolff Group Holdings PLC, up 13% at 12.75p, 12-month range 5.56p-29.00p. The London-based fabrication company, which serves the maritime and offshore industries from yards in England, Northern Ireland and Scotland, says it has been awarded a mid-life upgrade contract for the SeaRose floating production storage and offloading vessel by Cenovus Energy Inc. Harland & Wolff says the contract awarded to its Harland & Wolff (Belfast) arm is valued at around GBP61 million, with the vessel expected to arrive in the first quarter of 2024 and will be in the building dock for a period of more than three months. The contract follows the letter of intent announced at the end of July. Cenovus Energy is an oil and natural gas company headquartered in Calgary, Canada.

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Good Energy Group PLC, up 7.8% at 235p, 12-month range 143.50p-244.18p. The Wiltshire, England-based supplier of 100% renewable power and an innovator in energy services says its chief operating officer, Fran Woodward, has been appointed as director, effective immediately. Woodward has been at the company for the last nine years, and has been COO since December 2020. Chair Will Whitehorn comments: "Fran has been a leader in Good Energy for nearly 10 years. With her experience spanning everything from HR to sales to operations and risk management her knowledge of the company is unparalleled. She has played a vital role in helping drive the company's strategy as well as its positive working culture, making her a very welcome addition to the board."

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AIM - LOSERS

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Ethernity Networks Ltd, down 35% at 0.25p, 12-month range 0.25p-0.39p. The Airport City, Israel-based supplier of data processing semiconductor technology for networking appliances receives a settlement notice for USD90,000 from 5G Innovation Leaders Fund LLC pursuant to share subscription agreement announced in late February. It says 5G Innovation is entitled to issue settlement notices under the agreement despite notifying Ethernity of an event of default and despite Ethernity's ongoing temporary suspension of proceedings. A court in the Israeli city of Lod granted the suspension order on Monday last week, and a settlement manager was appointed to review Ethernity's short-term budget. Ethernity has issued and allotted 37.1 million new shares of NIS0.001 each to 5G Innovations at 0.2 pence each. The remaining outstanding balance under the subscription agreement is USD1.2 million, approximately GBP1.0 million.

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By Greg Rosenvinge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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