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

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AIM - WINNERS

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Prospex Energy PLC, up 8.5% at 5.97 pence, 12-month range 5.00-21.00p. The European gas and power project-focused investment company receives notices to convert GBP453,562 in four convertible loan notes in exchange for the issue of 10.7 million shares. The convertible loan notes were issued in July of last year and are convertible at 4.25p each. Chief Executive Mark Routh says: "The conversion of these loan notes is very helpful for Prospex as it reduces the remaining debt in the company and improves our cash position."

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Pelatro PLC, up 7.1% at 0.75 pence, 12-month range 0.44-24.50p. The London-based marketing software provider lowers its full-year revenue expectations after experiencing delays. Revenue for 2023 is now expected to be around USD7 million. Although this is a 30% increase from the USD5.4 million generated in 2022, it falls short of the previously forecasted annual revenue of USD8 million. Pelatro expects an adjusted pretax loss of USD1 million in 2023. Including all exceptional items, pretax loss last year was USD13.7 million. "Despite a disappointing 2022, I look forward with cautious optimism to 2023 as the efforts put in to date, particularly our diversification into non-telco customers, begin to pay off," says Chair Harry Berry. "Our new business pipeline is at its highest ever level and I am confident that this will produce results in the coming months and years."

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AIM - LOSERS

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Crimson Tide PLC, down 17% at 1.82 pence, 12-month range 1.70-3.44p. The Kent, England-based software developer reports that the development and marketing of Beepro has been paused as it focuses on mpro5, a business-to-business app. Consequently, Crimson Tide removes Beepro figures from its forecasts "for the time being". Despite the setback, the company reports revenue of GBP3.0 million in the first half of 2023, up 31% from GBP2.3 million in 2022. Its pretax loss narrows to GBP471,000 from GBP860,000, in line with expectations. Chair Barrie Whipp says the period "has demonstrated very good progress" and that Crimson Tide expects around 20% revenue growth in the second half.

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Getech Group PLC, down 16% at 7.80 pence, 12-month range 7.10-19.00p. The subsurface resources locator widens its pretax loss in the first half of 2023 amid one-off charges and reduced revenue. Pretax loss widens to GBP2.9 million, from GBP1.2 million a year ago. It records exceptional costs of GBP700,000, relating to restructuring and goodwill impairment from its acquisition of H2 Green Ltd, a wholly-owned subsidiary that designs and develops green hydrogen hubs in the UK. Revenue declines 30% to GBP1.9 million from GBP2.7 million the year prior due to lower sales of both oil and gas. Getech does not declare a dividend for the first half, unchanged from 2022.

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By Heather Rydings, Alliance News senior economics reporter

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