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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Deltic Energy PLC, up 18% at 3.20 pence, 12-month range 1.91p-4.38p. The North Sea-focused natural resources investor announces a ‘significant’ gas discovery at Pensacola on licence P2252 in the southern North Sea. ‘Pensacola could represent one of the largest natural gas discoveries in the southern North Sea in over a decade,’ the firm says. Its first exploration well points to an estimated ultimate recovery of 302 billion cubic feet.
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Pennant International Group PLC, up 14% at 32.4p, 12-month range 29p-41p. The training technology and product support provider swings to positive earnings before interest, tax, depreciation and amortisation in 2022. Expects around £500,000 in Ebitda, compared to negative Ebitda of £800,000 in 2021. Enters 2023 ‘with a real sense of momentum’, after re-aligning cost base, improving gross margins, and recording a ‘healthy’ contracted order book in 2022. However, the firm expects revenue to fall to £13.7 million in 2022, from £16.0 million in 2021.
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AIM - LOSERS
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Sosandar PLC, down 14% at 22.73p, 12-month range 13p-31.69p. The online-focused clothing retailer announces a proposed share placing to raise a minimum of £4 million. It will place no fewer than 18.2 million shares at 22 pence each, which is a 17% discount to its closing price of 26.4p on Tuesday. Says there will also be a retail offer for around £500,000. The firm will use the funds to invest in stock to further its omni-channel strategy. This increase the provision of its in-store product range with partners such as J Sainsbury PLC.
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Renalytix PLC, down 11% at 109p, 12-month range 44p-427.27p. The kidney health-focused diagnostics company announces a private placement of $20.3 million in ordinary shares and American depositary shares. The placing price was $2.17 per ADS, representing two ordinary shares at a price of 90p each. This represents a 27% discount to its closing price of 122.5p on Tuesday. Will use the net proceeds for sales and marketing, clinical product development, as well as corporate support and financing costs.
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