11th Mar 2022 11:15
(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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DeepVerge PLC, up 6.9% at 15.50 pence, 12-month range 12.50p-36.25p. Production orders for its Modern Water division in the first quarter grew to GBP5 million and stated that it is transitioning its business model. Deepverge says orders received this quarter reflect year-on-year growth of 39% compared to orders worth GBP3.6 million a year before. These new orders for the Modern Water division also represent the biggest first-quarter production order in the history of the division. The equipment is expected to be delivered this year. The company stated that it will still deliver units as it transitions to monitoring. This includes units for a Chinese State government department and multiple units on its Yangtze River project, which are capital equipment sales.
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Mkango Resources Ltd, up 12% at 26.49 pence, 12-month range 19.00p-37.50p. Secures financing from European Raw Materials Alliance for the development of a rare earth separation plant in Poland. This plant will be supplied with rare earth carbonate from Mkango's Songwe Hill deposit of rare earth elements in Malawi. Mkango says the project will aid the creation of a secure supply chain option for neodymium, praseodymium, dysprosium, and terbium for the EU.
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AIM - LOSERS
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Hutchmed (China) Ltd, down 9.5% at USD26.30, 12-month range USD26.30-USD77.60. Sinks to 12-month low as its depositary shares may be delisted from New York's Nasdaq exchange in early 2024 unless the Holding Foreign Companies Accountable Act is amended to exclude Hutchmed. The act is part of regulatory focus in the US on access to audit and other information. It requires the US Securities & Exchange Commission to prohibit the securities of any company from being traded on any of the US securities exchanges if the auditor of the company's financial statements is not subject to inspection by the US Public Co Accounting Oversight Board for three consecutive years. Another way for Hutchmed to be excluded from the act is if the PCAOB is able to conduct a full inspection of the company's auditor during the required timeframe.
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Omega Diagnostics Group PLC, down 11% at 3.68 pence, 12-month range 3.68p-98.50p. Says its Visitect Covid-19 antigen test has not been approved by the UK Health Security Agency for professional use. As a result, the product will not be available for sale in the UK. The company continues to work with external study centres to ensure the deadline for submission of self-test CE Mark data is met on March 31. Omega says it believes the self-test market to be "more relevant in terms of opportunity".
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By Paul McGowan; [email protected]
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Related Shares:
DVRG.LMkango ResourcesHutchmedODX.L