24th Sep 2024 10:36
(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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Ondine Biomedical Inc, up 27% at 7.125 pence, 12-month range 5.125p-12.5p. Says it has secured CAD5 million in financing, approximately GBP2.8 million, from a Canadian "new third-party private investor" through a private placement. Intends to use proceeds "for general working capital purposes and to support commercial growth". Will issue 22.2 million new common shares at 12.5 pence each, which will represent approximately 7.4% of its enlarged share capital. Expects to close transaction on or before November 8. "Following our recent announcement of our distribution partnership with Molnlycke Health Care, a world-leading MedTech company that specializes in innovative solutions for wound care and surgical procedures, we are pleased to have this additional capital in support of our expected sales growth," comments Chief Executive Officer Carolyn Cross.
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Itim Group PLC, up 19% at 41.5p, 12-month range 18p-46p. Says revenue improves 19% to GBP8.8 million in the first half of 2024, from GBP7.4 million the year before. This was "driven by both new contract wins and higher levels of service revenue". Pretax loss narrows to GBP73,000 from a GBP1.1 million loss. Earnings before interest, tax, depreciation & amortisation total GBP1.2 million, swinging from a GBP197,000 loss. CEO Ali Athar says results "demonstrate measurable progress across key metrics". Company says it expects full-year results ahead of current market expectations; Athar says this is "a consequence of the positive momentum, including new contract wins, in addition to encouraging trading since the beginning of H2".
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AIM - LOSERS
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Corcel PLC, down 21% at 0.1025p, 12-month range 0.1025p-1.355p. Says it has backing from Angola's National Agency for Petroleum, Gas & Biofuels for the assignment of an additional 20% interest in its onshore operated KON-16 block. This will result in its 90% subsidiary Atlas Petroleum Exploration Worldwide Ltd holding a 55% gross equity interest in KON-16. Additionally, says it has raised GBP1.2 million from an issue of 1.22 billion shares at 0.1p each, to "a group of strategic investors". CEO Scott Gilbert says these investors "have deep experience in [the] oil and gas sector, and in Angola in particular" in "a testament to our sound strategy and a foundation for sustainable growth". Firm plans to use proceeds to advance operations in Angola, and to pursue further opportunities in Angola and Brazil.
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Clontarf Energy PLC, down 16% at 0.0485p, 12-month range 0.0155p-0.115p. Raises GBP450,000 from placing of one billion new shares at 0.045p each. Says new shares represent around 12% of its enlarged total share capital. Intends to use the funds to advance expected lithium convocatoria negotiations in Bolivia. Includes "any necessary expenditure for collection, transport and processing of bulk samples, as well as the further development of a pilot-plant to be deployed to a suitable salar, and for general working capital purposes". Chair David Horgan says this will "maximise the chances of early progress".
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By Emma Curzon, Alliance News reporter
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