MobilityOne Ltd () shares were highly mobile in Wednesday afternoon trading, skyrocketing almost 1,200% from 4.5p to above 58p after winning a contract with US money transfer giant MoneyGram Payment Systems.
The AIM-listed, Malaysia-headquartered ecommerce infrastructure specialist’s 50%-owned remittance business, OneTransfer Remittance (OTR), will act as one of MoneyGram’s correspondence remittance companies in Malaysia for an initial five years.
Under the deal, OTR customers will be able to send and receive money via MoneyGram’s global platform which connects to more than 200 countries worldwide, with OTR entitled to a share of the fees generated on money transfer transactions as well as a share of MoneyGram’s foreign exchange profits.
MobilityOne shares have finally topped their 12.5p IPO price, 13 years after coming to AIM.
1.10pm: Melrose wilts
Shares of () wilted 18% to below 100p after the owner of aerospace and automotive engineer decided not to pay a half-year dividend.
The shares fell after the FTSE 100 group warned some job cuts are “inevitable” as its revenues plunged 27% in the first half of the year and it fell into the red in the second quarter.
A small adjusted operating profit is expected for the half-year but the board said it “does not consider it appropriate” to pay an interim dividend in 2020, having also cancelled the final payout for 2019 in May
12.10pm Maestrano update sparks profit-taking
() shares stumbled from their recent 18-month highs despite the artificial intelligence group reporting much reduced losses for the year to end-June.
The company, which provides AI insight for the transportation, infrastructure and banking sectors, said it was encouraged at the continuing strong growth in its core Airsight business.
Underlying profits (EBITDA) fell more than two thirds to £0,84mln and management expressed confidence of continuing growth in the new financial year, though with the stock having risen more than 300% since the start of June, some investors were taking profits, sending the share price down 6% to 7.5p.
11.25am: Altus climbs on Mali hill report
PLC () shares gained altitude after reporting on a “robust” preliminary economic assessment (PEA) for its wholly owned Diba gold project in western Mali.
The PEA envisages a simple low-cost and low-strip ratio open-pit gold mine, using standard heap-leach processing to generate a pre-tax valuation of US$115mln.
“While the preliminary economics are compelling, we believe Diba has considerable growth potential,” said chief executive Steven Poulton, adding that the company now intend to drill test the seven priority targets discovered within 7km of the Diba hill deposit.
The shares more than doubled in early trade on Wednesday and by late morning were still up more than 60% at 50.25p.
10.30am: Tristel’s surgery worries
() shares tumbled 12% to 409p even after the manufacturer of infection prevention products said sales and profits for the year to end-June will be ahead of market expectations.
The AIM-listed outfit, which rose to an all-time high above 530p in May, said demand for disinfecting surgical instruments, traditionally its main source of revenues, had been hit since March by cancelations of procedures during the coronavirus pandemic, while sales of its surface disinfectants had surged.
While enjoying a significantly larger launch of its Cache surface disinfectant product in recent months, the company warned that its key market of the UK “might lag behind our other markets in catching up with the patient throughput that would be required to avoid severe lengthening of waiting times for the diagnostic procedures we are involved in”.
8.45am: Eve Sleep bounds out of bed
() shares got out of the right side of the bed in early trading on Wednesday, rising 28% to 2.2p after an upbeat trading statement.
The mattress maker and ‘sleep wellness’ brand said it had cut underlying first-half losses by around 80% to roughly £1.2mln on sales of £12.2mln.
“May and June trading was ahead of the board’s expectations and this momentum has continued into July, buoyed by a strong homewares market, effective and efficient marketing and eve’s online focused proposition,” Eve Sleep’s new chief executive Cheryl Calverley said.
Elsewhere, logistics group () shares revved up 10% to 188.75p as it guided to higher profits for the current year after enjoying a “steady recovery” in trading since full-year results last month.
Improved levels of demand have been perceived across most of the business, particularly in home delivery operations and e-fulfilment, although volumes in construction and fuel distribution remain down, the group said.
After winning new contracts with Waitrose for home delivery in London and with Morrisons to manage additional distribution, plus cost-cutting measures and signs the economy is recovering “mean that we expect our full-year underlying profit before tax to be significantly ahead of current market forecasts and not less than £30mln”, it added.
Proactive news headlines:
() (),has said it continued to enjoy improved momentum in its first-half with strong demand for its range of specialty polymers. In a trading update for the half-year to June 30, 2020, the leading innovator in sustainable specialty polymers, said unaudited revenues for the first six months of the year were US$1.1mln, representing around 80% growth over the equivalent period in 2019 and about 62% over the second half of 2019. Itaconix said volumes and revenues increased from new and recurring orders in detergent, odour control, and personal care applications.
() has made a three-pronged change to streamline its cultivation strategy. The cannabinoid (CBD) specialist is expanding its seed testing programme via a partnership with GVB Biopharma; it is terminating the lease on its Colorado production facility; and it has struck a European joint-venture to grow high-quality hemp seeds.
() (FSE:P4JC), a natural resources investing company, has announced the appointment of influential German industry investor Dr Stefan Liebing to its board as a non-executive director with immediate effect. Liebing is the chairman of Afrika-Verein der deutschen Wirtschaft e.V., the prestigious German-African Business Association, where, as part of his role, he advises the German Government on investment in Africa. He chaired the G20 Compact with Africa investment summits in 2018 and 2019, held under the patronage of Chancellor Angela Merkel. He is the CEO of Conjuncta GmbH, a boutique investment and project development company. Previously, Liebing was a director of International Gas Business at EnBW Energie Baden-Wuerttemberg AG, one of the largest energy supply companies in Europe, and earlier in his career held various senior positions at .
() has unveiled plans to raise up to £15mln to support the continued initial development of a coronavirus (COVID-19) vaccine as well as clinical trials and partnering discussions for its antibody technology. The immunotherapy developer said it is planning to raise £5mln through a subscription of 90.9mln new shares at a price of 5.5p each, a 19.7% discount to its closing price on Tuesday, to US specialist healthcare investor Redmile Group. Scancell said it will also offer a subscription for convertible loan notes with an aggregate principal amount of £6mln and conversion price of 6.2p per share, with £5mln to be subscribed for by Redmile and £1mln in to be subscribed for by Vulpes, one of its substantial shareholders. The company is also planning to raise £2mln through a placing with new and existing shareholders at 5.5p, of which Vulpes intends to subscribe for 18.18mln shares for £1mln, as well as an open offer of up to £2mln at the same price to qualifying shareholders.
() said it has invested in Toronto-listed Pan Global Resources Inc (CVE:PGZ) via a share subscription. It has invested the equivalent of £146,000, buying 1.38mln units – comprising one share and one half-share warrant – priced at 18 Canadian cents per unit. Pan Global is a Spain-focused base-metals explorer with two projects, Aguilas and Escacena, with the latter being the main focus.
() said its performance in the first half has been “solid in spite of the difficult events affecting the world” as it updated on production from its iodine plants during the coronavirus (COVID-19) pandemic. The AIM-listed chemical products group said it produced 284.4 metric tonnes (MT) of crystalline iodine in the first half of 2020, in line with the 286.7 MT produced a year earlier. With all five plants running as normal, the firm expects iodine production for the second half to be between 340-360 MT, noting that prices had remained “encouragingly” steady at US$35 per kilo or above in the second quarter of 2020 and into the third. Iofina also said that it is continuing to progress a debt refinancing package with a new lender, although the process has been impacted by the pandemic and the new terms are likely to include a term loan as well as a revolving line of credit to meet the company’s debt repayment obligations.
() said there has been increased interest in its assets and their potential treatment for coronavirus (COVID-19), as well as the resultant fibrosis. “These business discussions are confidential and further announcements will be made as and when appropriate,” the drug developer told investors as it reported its preliminary results for the year ended March 31, 2020. The group, a specialist in cocrystal technology, also touched on its strategy review in the few weeks since the resignation of chief executive Dan Gooding. The new approach will focus on licensing agreements and fee-for-service work; the use of its technology to create ‘out-licensing’ opportunities; co-development tie-ups to extend the patent life of generic products.
() has told investors it is looking ahead to a challenging but exciting period with full permitting of the Bougouni Lithium project targeted. Posting full-year results for the period to March 31, 2020, the group said it expects to see Bougouni move into the next stage of development, including final engineering design and financing negotiations for construction. The pre-revenue explorer reported a £629,504 loss for the year ended March 31, down from £712,611 in the preceding year.
() (ASX:BSE) has advised shareholders that Numis Securities has ceased to be a joint broker of the company. It added that Berenberg continues as Base Resources’ broker.
(), a global specialist in technologies to enhance the properties of plastic and some non-plastic products by making them biodegradable, and/or to provide protection against threats to health and safety, announced that it has extended the subscription period of warrants over 5,000,000 ordinary shares of 1p each in the company which were granted on July 19, 2019, to Vincel Investment Holdings Limited to November 25, 2020. All other terms and conditions remain the same. The subscription period of the further 5,000,000 warrants that were also granted on July 19, 2019, but with an exercise price of 25p, remains the same.
() has announced that its 2019 and 2020 annual general meetings (AGMs) will be held at 4.00pm and 5.00pm Hong Kong time respectively on August 14, 2020. The company postponed the 2019 AGM due to the civil unrest in Hong Kong at the end of 2019. Subsequently, the coronavirus (COVID-19) pandemic presented further issues in convening such a meeting earlier. The group said the venue for both the 2019 and 2020 AGM is Infinitus Plaza, IP 12/F 4, 199 Des Voeux Road Central, Sheung Wan, Hong Kong.