The group said it now had “sufficient and significant capital” to support its growth ambitions, and thus it no longer needed to raise capital from investors.
The firm will now hold a general meeting on 15 October where it will need to gain the support of 75% of shareholder votes to successfully delist from the junior market.
In an outlook statement alongside its third-quarter results, the owner of P&O cruises said it expected adjusted earnings for the full year to be between US$4.23 and US$4.27 per share, down from its June guidance of between US$4.25 and US$4.35, as a result of higher fuel costs.
A prominent riser in the final hours of trading was Craven House Capital PLC (LON:CRV), which jumped 13% to 2.4p after confirming that its Canadian-listed subsidiary, DLC Holdings, had agreed to acquire the Blacktail Mountain Ski Area in Montana for US$3.5mln in an all-share deal.
1.30pm: China Nonferrous Gold hits jackpot as it turns a profit
Investors in junior miner China Nonferrous Gold Limited (LON:CNG) hit the jackpot in early afternoon after news that the firm had turned a profit in its first half sent the shares surging 25.7% to 20.8p.
The Tajikistan-focused gold player reported an operating profit for the six months ended 30 June of US$278,000, swinging from a US$3.36mln loss in the prior year, on the back of sales revenues of US$20.8mln.
The company sold 15,557 ounces of gold ingots in the period from its Pakrut Gold mine in the Central Asian Republic, which it had extracted from 300,300 tons of ore.
Elsewhere, fellow mining firm Vast Resources PLC (LON:VAST) shot up 36.2% to 0.16p after it formed two joint ventures with community interests and the Zimbabwe Consolidated Diamond Company for the Chiadzwa Community Diamond Concession.
The company also said it had resolved historic claims on the site by mutual consent, with the deals allowing the company to progress towards mining the area.
The firm said it now expects adjusted operating profit to be at the bottom of the guidance range of £590mln-£640mln.
Revenue from US higher education courseware, which represents around a quarter of turnover, has fallen roughly 10%.
11.55am: Xaar red all over as it swings to loss, CEO exits
For the six months ended 30 June, the company reported an adjusted pre-tax loss of £15mln, tumbling from a £3.2mln profit in the prior year, while revenues dropped to £22.5mln from £35.3mln.
Xaar was forced to get its red pen out for the numbers after a decision to cease all activities in its Thin Film business resulted in a £39mln impairment charge.
Meanwhile, the group also said its CEO, Doug Edwards, would be exiting the firm on 31 December after five years to explore opportunities in the USA, with the head of its printhead business, John Mills, to take over the role in 2020.
Another notable faller was FTSE 100 tobacco firm Imperial Brands PLC (LON:IMP), which tumbled 10.5% to 1,848p as investor choked on a profit warning issued in the wake of the US vaping scare.
In a pre-close trading update, the Lambert & Butler and Gauloises maker, said full-year earnings are likely to be flat, having previously guided to around 4% growth.
This is because net revenue is now expected to grow around 2%, having most recently pencilled in the upper-end of the 1-4% range.
The warning stemmed from the group’s push for market share gains in Australia and a deteriorating market for vaping in the US, which is dampening down demand for all e-cigarettes, including Imperial’s myblu.
In the risers, brake disk maker Surface Transforms PLC (LON:SCE) saw its shares motor up 6.4% to 25p after it was selected as a tier one supplier of carbon-ceramic discs to a major automotive company.
The company said it had received an order following its selection with sales revenue of £400,000 and expected to deliver the products before the end of 2019.
9.20am: Verditek shines on news of Nigerian solar panel deal
The AIM-listed group said that under the deal it would deliver a minimum of 1 megawatt (MW) of power from its solar panels, which are designed to be lighter and more flexible than traditional models, which would then increase to 3 megawatts (MW) in the second year.
The first 200 kilowatts of power are scheduled to be shipped within the next 16 weeks, with Verditek adding that further orders were also under consideration.
On the main market, breakdown and roadside repair firm the AA PLC (LON:AA.) rose 1.6% to 65.7p as it announced a partnership with ride-hailing firm Uber Technologies Inc (NYSE:UBER) to provide MOTs, repairs and maintenance services for its drivers.
The three-year deal, a first for the AA, will cover Uber’s 65,000 drivers which operate across 40 cities in the UK.
While the contract did not carry a monetary figure, the company said the partnership would provide a “significant opportunity” to grow new revenue streams without incurring substantial capital expenditure.
In the fallers, online estate agent OnTheMarket PLC (LON:OTMP) crumbled 16% to 81.5p after the firm cut its revenue and profit guidance for 2020 and 2021, citing headwinds in the market and “lower than usual” transaction volumes.
The group said the “challenging backdrop” meant it was becoming more difficult to convert estate agents into full-paying contracts for listings on its site and fewer were signing up than had originally been predicted.
Proactive company news
Location Sciences Group PLC (LON:LSAI) is forecasting increased sales into its second half after revenues for the first six months of its financial year rose by over 90%. In a separate announcement, the company unveiled plans to raise between £250,000-£750,000 by issuing 33.3mln new shares to investors.
IronRidge Resources Limited (LON:IRR) said it expects to compile a maiden resource estimate for the Cape Coast lithium portfolio in Ghana sometime in the first quarter of next year.
Erris Resources PLC (LON:ERRIS) wil continue with a ‘disciplined approach’ to expenditure on its projects in Ireland and Scandinavia given the tough backdrop for junior miners at present.