Sondrel (Holdings) PLC shares were on the rise this Monday following the publication of a corporate update.
The chipmaking small cap confirmed £1.5 million of payments from a tier-one automotive supplier, allowing Sondrel to honour previously deferred payrolls and certain creditor payments.
"We remain encouraged by the positive development of key opportunities in our pipeline and we look forward to providing further updates on new ASIC business opportunities at advanced stages of negotiation in due course,” said Sondrel’s chief executive Graham Curren.
Shares were 11% higher at 5.66p as of 9.30am.