The Minister of Environment and Housing has lifted the ban on the use of thermally treated soil in the Dutch market.
As a result, TGG produced by Renewi’s ATM facility can now be used for industrial purposes at appropriate sites in the Netherlands and abroad.
1.00pm: Lipstick on a pig
The company warned full-year before tax will drop even further than previously announced due to slower sales in the UK and increased investment in US growth.
The owner of the W7 and Technic make-up brands said it now expects to report adjusted profit before tax of between £5.1mln to £5.5mln, while in August it was estimated to be in the range of £6mln to £7mln.
12.05pm: Firestone Diamonds off to disappointing start to new fiscal year
“A disappointing year for the company despite a solid operational performance, which saw revenues decline due to a weak diamond market and a reduction in carats sold,” was the company’s own honest appraisal.
Since the company’s financial year-end (30 September), the market has remained subdued and as a result Firestone realised lower than expected average values for the September and October sales of diamonds of US$63 and US$70 respectively. In terms of resource performance, lower carat recoveries have persisted in a particular area of the open pit, which has resulted in fewer than expected carats being recovered.
11.10am: Jaywing plunges as losses lengthen
The loss before tax in the six months to the end of September was £1.54mln, compared to a loss of £567.000 in the corresponding period of 2018.
The company also announced that Adrian Lingard, its chief operating officer, would be stepping down from the board with immediate effect.
10.15am: Beeks flying high after bagging two significant contracts
Beeks Financial Cloud Group PLC (LON:BEEK) saw its shares surge 16 to 104p on the back of two significant contract wins.
The cloud computing and connectivity provider for financial markets said it has bagged a US$1.mln annualised contract with a global financial markets technology provider and another contract, worth £1.1mln over three years, with a cloud-based payments solutions provider.
“Our selection as preferred vendor for one of the largest technology providers for financial markets globally represents our largest initial customer deployment to date and provides Beeks with a significant growth opportunity,” said Gordon McArthur, the chief executive officer of Beeks.
9.30am: Let there be eLight
The company is proposing to acquire eLight, which is an “energy efficiency as a service” company that provides commercial customers with immediate energy and cost reductions with zero upfront investment, for £6.6mln
Alexander is paying £6.6mln in shares. It has also raised £1.34mln through a placing of shares at 7.5p each; if that seems on the lumpy side, that’s because the company plans to perform a share consolidation of every 75,000 existing share into one consolidated share and then sub-divide each consolidated share into 250 new ordinary shares, which will have the net effect of one new shares replacing 300 old shares, with a concomitant effect on the share price.
Admittedly, this share price hike is after the shares plunged from 2.075p on Tuesday as news of the proposed fundraising leaked out.
The new shares have been placed at a penny a pop, a fraction below last night’s closing price of 1.1p.
Proactive news headlines:
Cadogan Petroleum Plc (LON:CAD) shares rose on Friday following news it has received final approval for a 20-year production licence for the Blazhiv field in Ukraine. The company has already paid the licence fees and has started production. Cadogan drilled a new well, Blazh-10, on the field earlier in the year that flowed at 185 barrels per day (bpd), lifting group production to 400 bpd.
VR Education Holdings PLC (LON:VRE) has extended a commercial agreement for its Apollo 11 virtual reality (VR) experience with the US Space and Rocket Center in Huntsville, Alabama. The tech firm said the agreement with the aerospace museum will now run for another 12 months, over which time the company will continue to take a cut of ticket sales for the experience.
Ncondezi Energy Ltd (LON:NCCL) has said “several areas” have been identified to potentially speed up the development of a proposed 300-megawatt mine Mozambique power station. In a statement, the company said this was one of the major positives to emerge from the inter-ministerial committee for China and Mozambique.
Greencoat UK Wind PLC (LON:UKW) has agreed to acquire two Scottish wind farms on their completion for £104mln. Combined, Windy Rig and Twentyshilling, in Dumfries & Galloway, will produce 81 megawatts of power. The former is expected to come online in the second quarter of 2021 while the latter should be up and running by the third quarter of the same year
Live Company Group PLC (LON:LVCG) has signed an agreement with the Royal Burgers Zoo in the Netherlands for its BRICKLIVE Brickosaurs exhibition. The exhibition, the second at the zoo, will run from mid July 2021 to the end of August.
Immotion Group PLC (LON:IMMO) said it expects a “significant” boost in new installation activity in 2020 that is set to deliver monthly underlying earnings (EBITDA) at break-even in the first quarter. In a trading update, the firm said its full-year underlying EBITDA loss is estimated to be in line with expectations, with revenue to come in at between £3.6mln and £3.8mln.
Regency Mines PLC (LON:RGM) has reported a full-year loss of £2.7mln after its legacy interests in coal and electric car rentals were written-off in the period. Impairments of £1.5mln in the year to June largely comprised its investment in Mining Equity Trust (2018: £1.55mln loss).
Benchmark Holdings PLC (LON:BMK), the aquaculture solutions provider, said it saw an improvement in adjusted underlying earnings from continuing operations during the final quarter of its fiscal year. In a fourth-quarter results statement that reiterated most of the financial information in its trading update of three weeks ago, the company said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) from continuing operations in the three months to the end of September rose to £7.5mln from £7.0mln the year before.
US Oil & Gas PLC has raised US$61,111 through the placing of 152,842 new shares with private investors. The oiler placed the shares at a price of 32p each, the proceeds of which will be used for working capital to fund its drilling operations.
Iofina PLC (LON:IOF), the iodine producer, said construction of its latest production plant, IO#8, remains on track. Work on the Oklahoma plant began in late September of this year and continues to make progress as expected within Iofina Resources’ timeline and budget.
Shanta Gold Limited (LON:SHG), the East Africa-focused gold producer, developer and explorer, announced that its New Luika Gold Mine (NLGM) in South West Tanzania has successfully connected to the state power grid supplied by TANESCO. In a statement, the group said the initial connection represents approximately 10% of NLGM’s power needs and this is anticipated to increase over the next 12-24 months.
Horizonte Minerals PLC (LON:HZM) (TSX:HZM) has announced an update on its Corporate Social Responsibility (CSR) program in the communities surrounding its Araguaia Nickel Project, south of the Carajás Mining District in the Pará State, north-east Brazil. The nickel development company focused in Brazil, which has supported local communities since its initial discovery of the project, said it is running several new social impact projects, tackling issues specific to the region, in partnership with local community organisations.
Hurricane Energy PLC (LON:HURR) has announced the appointment of Beverley Smith as a non-executive director of the company with immediate effect. The group noted that Smith is a chartered geologist and during a successful international career with BG Group, she delivered a portfolio of strategic, commercial, project and people leadership achievements, most recently as Vice President Exploration & Growth for Europe. It added that, following her appointment, half of Hurricane’s board of directors (excluding the chairman) are independent non-executive directors, in compliance with the Financial Reporting Council’s UK Corporate Governance Code 2018.