EQTEC higher after signing exclusive deal with land developer
The AIM-listed gasification technology’s chief executive, David Palumbo, said the exclusive collaboration framework agreement with Logik was “a natural next step for EQTEC”.
“This collaboration is also expected to help accelerate the delivery of our projects in the UK, creating local jobs and significantly reducing harmful emissions when compared with alternative waste-to-energy processes,” Palumbo said.
11.00am: MelodyVR drops a semitone after raising funds ahead of Napster name change
MelodyVR Group PLC (LON:MVR) struck a downbeat note, falling 10% to 3.15p after it raised £1.6mln by placing shares at 3.3p a pop.
The placing was conducted via PrimaryBid.com, the platform that allows retail investors to buy newly issued shares.
The company, which said last week that it changing its name to Napster after snapping up the parent of the US file-sharing pioneer for US$26.3mln last summer, is also conducting an issue and subscription for convertible loan notes totalling £6.48mln.
10.00am: Shareholders dig Joules Group’s move into garden products
The company announced it has acquired Garden Trading for up to £12.5mln in cash and shares.
Already a seller on the Friends of Joules digital marketplace, Garden Trading designs its own home, garden and outdoor products available on its website or through over 1,000 stockists across the UK.
9.00am: Nucleus Financial succumbs to bid from bigger rival
The terms value the financial advisor at around £144.6mln.
James Hay, which provides retirement plan solutions to larger financial adviser firms, said the addition of Nucleus to the group, would enable it to serve the entire adviser market.
The licence provides the company with the exclusive right to develop and mine the potash deposit in the Khemisset basin, ahead of the anticipated initiation of construction by the end of 2021.
The grant of the licence follows a successful application process including the submission of a proven, JORC compliant, resource estimate and the confirmed technical and economic viability of the project, which was satisfied by the feasibility study.
Proactive news headlines
Tavistock Investments PLC (LON:TAVI) said it is in “strong position to accelerate growth” and told investors it expects to report underlying earnings (EBITDA) “significantly ahead” of last year for the 12 months ended March 31.
Symphony Environmental Technologies PLC (LON:SYM) has reported revenue increases across all of its main product areas in its 2020 financial year. In a trading update for the year to December 31, the plastics specialist reported that revenues increased by 19% to £9.8mln, with a further £0.7mln not recognised during the year due to a shipment missing the company’s year-end cut-off due to shipment congestion in the Far East.
DiscoverIE Group Plc (LON:DSCV) told investors that trading for the twelve months to March 31 is expected to land at the upper end of market expectations.
Brickability Group PLC (LON:BRCK) said it has “continued its strong recovery” following its interim results to September 30 and that the market for its products “continues to improve”. In a brief trading update, the construction materials group said lockdown measures that have been in place since November have had “little material effect on trading” and it had maintained “rigorous cost control while continuing to make acquisitions and other strategic investments”.
Panthera Resources PLC (LON:PAT) has returned exceptionally high-grade gold in soil anomalies from the recently completed sampling programme at its Bido project in Burkina Faso, West Africa. “The survey results are excellent and confirm that this area has the potential for high-grade mineralisation,” said managing director Mark Bolton.
ImmuPharma PLC (LON:IMM; Euronext Growth Brussels:ALIMM) said the international phase III trial of its lupus drug Lupuzor remains on track to begin in the second half.
Esken Limited (LON:ESKN) said its chief executive officer (CEO) Warwick Brady has accepted an offer to become CEO of Swissport, the aviation services business. Company chairman David Shearer will assume executive duties on an interim basis.
Iconic Labs PLC (LON:ICON) said it has appointed Stephen Birrell as an independent non-executive director (NED). Birrell currently serves as a NED of Ascent Resources PLC (LON:AST) and Ossian Energy Ltd as well as a background in geoscience. The company said Birell will also bring “broad experience of corporate governance, project management, stakeholder relations, joint venture management and business development”.
CentralNic Group PLC (LON:CNIC) completed an oversubscribed €15mln tap issue under its existing senior secured callable bonds listed in Oslo Børs. The tap issue was priced at 104.5% of par value and the total outstanding amount after the tap issue is €105mln.
Avation PLC (LSE:AVAP) has reached an agreement with bondholders for an extension to its 6.5% senior notes. The aircraft leasing firm’s notes had been due to mature in May but have now been extended for more than five years, until October 2026.
Great Western Mining (LON:GWMO) said it has received a notice of exercise of warrants over 31,250,000 new ordinary shares at a price of 0.16p per share, which were granted in conjunction with a placing in November 2019. The company will issue the warrant shares with gross proceeds amounting to £50,000.
Condor Gold PLC (LON:CNR TSX:COG) said its remaining warrants issued in February 2019 have now been exercised. Accordingly, it is issuing 92,083 new ordinary shares at a subscription price of 31p per share. The company has received gross proceeds of £28,546.
Zephyr Energy PLC’s (LON:ZPHR) chief executive officer, Colin Harrington, will be presenting at the Proactive Investors One2One virtual investor forum on Thursday, February 11 at 18:00 GMT followed by a Q&A session. To register for the event please use the following link: https://event.webinarjam.com/register/903/1nnlvtpg4