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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Woodbois Ltd, up 7.6% at 0.78 pence, 12-month range 0.22p-1.30p. The maker of sustainable timber products says it will exit Mozambique, as it believes its operations there ‘have not and cannot contribute meaningfully’ to profit. It will sell its operations in the southern African nation to a ‘local purchaser’, after striking a letter of intent. ‘A comprehensive sale agreement is expected to be entered into in the coming weeks,’ it adds. Woodbois also notes ‘heightened geopolitical risks’ are a cause for concern in the region, particularly in the northern Cabo Delgado province, which is grappling with a surge of violence from fighters part of the Islamic State group. Woodbois says some of its concessions are located in Cabo Delgado. ‘The ban on exports of local wood, have further contributed to this strategic decision,’ it adds.
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AIM - LOSERS
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Cap-XX Ltd, down 82% at 0.073p, 12-month range 0.060p-2.90p. The manufacturer of supercapacitors for portable electronic devices warns its ‘working capital position has continued to deteriorate’. Revenue and cash receipts over the first eight weeks of the year have been weaker than expected. It is exploring raising additional financing but believes some sort of debt and sale/leaseback structures will not be possible. It is considering equity financing but cautions that this process is taking longer than expected. It is now in a ‘highly constrained financial position’ and additional financing is needed by the end of this month.
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Ixico PLC, down 14% at 7.27p, 12-month range 6.35p-25.00p. The neuroscience focused advanced analytics company says its financial first half has been marred by ‘longer contracting cycles and postponements of certain new contracts to later in the year’ or the next one. Ixico’s financial year ends on September 30. Ixico says delays to some project start dates are likely to mean revenue for financial 2024 totals £5.2 million to £5.9 million. Revenue in the prior year amounted to £6.7 million. Chief Executive Giulio Cerroni adds: ‘Whilst anticipating a challenging first half year of trading, we had expected higher levels of new contract bookings, especially from biotech sponsors, which have not yet materialised, primarily due to client-led delays.’
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