OnTheMarket hooks up with rental platform Canopy

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OnTheMarket PLC (LON:OTMP) advanced 6.1% to 87.5p after it announced a commercial partnership with rental platform Canopy.

The partnership will enable OnTheMarket to provide its agent customers with free comprehensive tenant referencing, including employment and landlord references, for all tenancy applications.

Canopy’s RentPassport includes Experian credit history, adverse financial history and provides verification of identity and address along with Know Your Customer, Anti Money Laundering and other information. The Canopy and OnTheMarket rental platform will be live in July 2021.

3.30pm: Synairgen wanted after its inhaled interferon beta shows potential antiviral activity

Synairgen PLC (LON:SNG) rocketed 23% higher to 130.1p after positive news on its coronavirus (COVID-19) treatment.

The company said lab tests of its inhaled interferon beta, which is being developed to treat people with severe effects of COVID, has shown “potent antiviral activity” against two new variants of the SARS-CoV-2.

The lab tests of SNG001 also demonstrated the “broad-spectrum antiviral activity”, which bodes well for its use across a number of respiratory viruses.

2.35pm: 4d pharma lifted by IBS treatment study results

4D pharma PLC (LON:DDDD, NASDAQ:LBPS) climbed 7.2% to 104p after provided a more detailed analysis of its live biotherapeutic, Blautix.

The data, presented as a poster at the medical and scientific conference Digestive Disease Week, builds on the top-line results released last October on the company’s treatment for irritable bowel syndrome.

The poster revealed “strong and statistically significant activity” on the key symptom of bowel habit, which 4D describes as a “potential approvable primary endpoint per regulatory guidelines”.

1.40pm: Cadogan Petroleum leaps as chief executive buys a million shares

Cadogan Petroleum PLC (LON:CAD) has taken over as London’s biggest riser with a 26% gain to 5.5p.

The shares shot up after it was revealed that chief executive officer Fady Khallouf has stuck his hand in his pocket and bought 1mln shares at 4.2p a pop.

The purchase takes Khallouf’s holding up to 4.27%.

12.45pm: Hurricane Energy gains altitude as High Court sanctions bondholder plan meeting

Hurricane Energy PLC (LON:HUR) shares have, to put it mildly, been volatile this year and they were on the move again this morning after the latest update on the highly dilutive financial restructuring.

The shares surged 25% to 1.875p after the company confirmed that the High Court of Justice has given directions for the convening and conduct of the bondholder plan meeting, which will be held on June 11.

The shareholder plan meeting will take place after the bondholder meeting.

READ Hurricane Energy lifts lid on debt deal that will significantly dilute value of existing shareholdings

11.50am: MJ Gleeson continues the run of upbeat updates from housebuilders

MJ Gleeson PLC (LON:GLE), the housebuilder, rose 2.3% to 882.79p after it raised earnings guidance for the year ending June 30.

Strong demand for new homes has led to higher selling prices, which has more than offset recent increases in certain material costs, the builder said.

Demand for high-quality consented land from large and medium-sized housebuilders has also returned to pre-COVID levels, the statement added.

10.55am: Mobile Streams ebbs as it launches new content platform

Mobile Streams Streams PLC (LON:MOS) rolled downhill, declining 7% to 0.26p after it launched a new version of its content platform.

The mobile content and data intelligence company said the new platform features a transformed user interface, increased functionality and an increased price of £150 per month for users requiring additional functionality.

The company said it plans to introduce more higher price points throughout the year.

10.00am: Digitial 9 to raise £100mln

Digital 9 Infrastructure PLC (LON:DGI9) shares subsided to 107p from 113p overnight after the company announced its intention to place shares at 105p each.

The company is looking to raise £100mln from the share issue. Retail investors will be able to buy shares via the PrimaryBid platform.

The net proceeds of the placing will be used to acquire further assets in line with the company’s investment objective.

9.05am: Kanabo places shares at a premium; SIMEC Atlantis higher after Japanese regulatory decision

Kanabo Group PLC (LON:KNB) was 10% higher at 22p after it took a stake in a Greek medical cannabis cultivation company.

Kanabo is paying £750,000 for a stake in Hellenic Dynamics SA ahead of the Greek company’s expected listing in London via a reverse takeover.

The developer of cannabis-derived products raised £1mln to fund the acquisition through the placing of around 4.5mln shares at a price of 22p each, a 10% premium to its closing price last Friday, from new and existing investors.

Elsewhere, SIMEC Atlantis Energy Ltd (LON:SAE) shares rose 16% to 7.15p after the company said its tidal power generation facility in Naru Island, Japan, has passed the Japanese government’s pre-use inspection tests and is now recognised as an official power generation facility.

The turbine tests were undertaken by the Ministry of Economy, Trade and Industry (METI), a key stakeholder in consenting renewable energy projects in Japan, during one of the strongest tides expected this year.

SIMEC also provided an update on its Uskmouth waste-to-energy conversion project in Newport, Wales. The company said it submitted a “Statement of Case” (SOC) to the Planning Inspectorate on 21 May 2021. The SOC is a routine part of a ‘call in’ process and addresses the matters raised in the ‘call in’ decision letter that the company announced in March.

Proactive news headlines

NetScientific PLC (LON:NSCI) said ProAxsis, its wholly-owned respiratory diagnostics business, has built a solid platform for growth.

Norman Broadbent PLC (LON:NBB) has reported positive earnings for 2020 despite the disruption caused by the coronavirus (COVID-19) pandemic as well as an increase in gross margins. 

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) has received binding commitments to raise A$28mln via a share placing that it said will enable final debt drawdown and access to additional funding through a bank guarantee provided by Sequoia and ramp-up of the Lake Way Project in Western Australia.

SIMEC Atlantis Energy Ltd (LON:SAE) announced that its tidal power generation facility in Naru Island, Japan, has passed the Japanese government’s pre-use inspection tests and is now recognised as an official power generation facility. The company also provided an update on its Uskmouth waste-to-energy conversion project in Newport, Wales.

Frontier IP Group PLC (LON:FIPP) said its portfolio group, Pulsiv, has completed a fundraising and appointed electrical engineer Darrel Kingham as its chief executive officer.

Sensyne Health PLC (LON:SENS) has signed a strategic research agreement with the Colorado Center for Personalized Medicine that will enable the ethical application of clinical AI research to improve patient care and accelerate medical research. 

Pembridge Resources PLC (LON:PERE) has announced the 2021 exploration plans for the Minto copper project in Canada, in which it owns a significant stake. Minto is already an established producer, and the plan is to boost the resource base.

Prince William was given a masterclass in electric racing at Knockhill Racing Circuit over the weekend, driving a car powered by hydrogen fuel cell technology produced by AFC Energy PLC (LON:AFC). The test drive at the Extreme E event was organised ahead of COP 26, the international climate change conference, which takes place in Glasgow later this year.

Westmount Energy Limited (LON:WTE) has noted that Hess Corporation has increased its interest in the Kaieteur Block, offshore Guyana, to 20% from 15%.

Deltic Energy PLC (LON:DELT) has noted that Fugro GB North Marine Limited has been hired to conduct a geophysical and geotechnical site survey ahead of the planned drilling of the Pensacola exploration well. The survey programme is slated for July, before drilling which is anticipated in 2022.

Iconic Labs Plc (LON:ICON) announced the appointment of Marija Hrebac as a non-executive director with immediate effect.

ImmuPharma PLC (LON:IMM) said its chief science officer, Dr Robert Zimmer, is to retire and quit the board at the end of June.

Nuformix PLC (LON:NFX) has appointed Dr Alastair Riddell as non-executive chairman. Simultaneously, Dr Karl Keegan, a non-executive director and Dr Joanne Holland, chief scientific officer, have resigned. Dr Riddell has over 30 years’ experience in the pharmaceutical, life science and biotech industries, with 20 years as a board director. 

Panther Metals PLC (LON:PALM) notified that its annual general meeting will be held on 15 June 2021. The meeting will be held online but the company said it will be using a platform that allows shareholder participation and voting on the poll.

Savannah (LON:SAV) announced that its chief executive, David Archer, will present an overview of the company and its current activities at the London South East Natural Resources Webinar on 25 May 2021, currently scheduled for 7pm.

Impax Asset Management Group plc (LON:IPX) announced the appointment of Berenberg as its joint broker with immediate effect. 

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