The shares rose 1.25p to 16.75p after the company announced plans to place shares at 16p each, raising £1.85mln in the process.
The shares with placed with warrants attached that may be exercised at 30p a share any time up until the end of March 2021.
12.30pm: Corero shares rise 13% to 8.85p on contract wins
Corero makes software that protects networks against the threat posed by distributed-denial-of-service (DDoS) attacks, which is where traffic flow on a network grinds to a halt as a result of an overwhelming flood of input/output requests.
The AIM-listed company said that it had gained a new customer, with a US research university signing on for a subscription to its Juniper SmartWall software.
11.00am: Bidstack bounces back from yesterday’s share price plunge
Bidstack Group PLC (LON:BIDS) shares soared by 52% to 11.75p on the back of a two-year trading agreement with a global marketing services group.
The company, which provides technology that inserts adverts into natural advertising spaces within video games, said the unnamed customer had agreed on media expenditure of up to £10mln a year for the next two years.
“This is a huge milestone for us as a business. We have always believed in our technology, our team and our partners and this trade deal is a real show of faith from the advertising industry that we serve. For me, this deal signals the dawn of a new ad category,” declared James Draper, the chief executive officer of Bidstack.
9.30am: Revenue warnings hit the shares of Goodwin and Plant Health Care
The shares slumped 19% to 2,860p after the company revealed there had been an unforeseen decrease in demand for the consumer-orientated jewellery products for which supplies the casting powder, which the company attributed to the USA and China trade war.
Profit before tax in the six months to the end of October eased to £7.41mln from £7.80mln the year before despite an increase in revenue to £70.09mln from £67.55mln.
The bioproducts company’s revenue is expected to clock in at around US$6.5mln, with the shortfall versus market expectations attributed to delays in the delivery of its harpin-based yield stimulant, H2Copla, in Brazil and the postponement of around US$1mln in US sales of its Harpin product for corn seed by its distributor, which is suffering from working capital pressures.
“In 2019, as in 2018, last-minute customer and logistical issues will result in revenue falling short of expectation; however, the delay in sales is principally a matter of phasing,” said Chris Richards, the chief executive officer of Plant Health.
Proactive news headlines
Touchstone Exploration Inc (LON:TXP, TSE:TXP) said gas flow rates from its latest Trinidad onshore well “greatly exceeded” expectations.
Mineral and Financial Investments Limited (LON:MAFL) saw a sharp uplift in its net asset value (NAV) in the year to 30 September, 2019.
Echo Energy PLC (LON:ECHO) has switched its drill rig in Argentina from its Tapi Aike licence to its new prospect at Santa Cruz Sur where drilling of the first well at Camp Limite is scheduled to start next week.
US Oil & Gas PLC (LON:USOP) said it expects to drill East Play in the fourth quarter this year or first quarter next year if drill costings remain as currently indicated.
NQ Minerals PLC (LON:NQMI) has raised £300,000 from a UK institutional investor, which the miner said will allow it to launch an exploration programme to add higher grade resources to its Hellyer mine in Tasmania.
ImmuPharma PLC (LON:IMM) this morning began trading on Euronext Growth Brussels under the ticker ‘ALIMM’, a new listing that does not affect the trading of the shares on AIM nor, said the company, is there any intention to raise additional funds.