Cancer treatment consultancy company Physiomics PLC (LON:PYC) moved up 11% to 3p after it was awarded a further contract by existing biotech client, CellCentric.

The value of the contract has not been disclosed but is expected to complete in the first half of 2020.

The project will involve pharmacokinetic and pharmacodynamic modelling and build on the work completed over the course of 2019 in support of the clinical development of CellCentric’s lead asset CCS1477.

2.00pm: Malvern International tops the movers after sale of Malaysian business

Malvern International PLC (LON:MLVN) saw its shares top the market gainers on Monday, leaping nearly 77% higher to 1.15p after the global learning and skills development partner, announced the sale of its Malaysian business, to AAA Management Science Academy PLT for a total cash consideration of MYR 400,000 (about £75,000).

The group said the cash consideration will be payable over a 13 month period and will be used towards the repayment of an existing bank loan in Malaysia, with the proposed transaction expected to complete on 31 December 2019.

Sam Malafeh, the chief executive officer of Malvern, said: “We are pleased to have agreed the sale of the Malaysian business, which will now allow us to focus on growing our core operations in the UK and Singapore.”

12.30am: Carclo motors after it completes exit from Wipac business

Carclo PLC (LON:CAR), the manufacturer of injection moulded plastic parts, hardened 39% to 14.6p after it completed its exit from the Wipac business.

The business has been put into administration and most of its assets have been bought by a subsidiary of Wuhu Technology for £10.5mln.

The net proceeds from the sale will be applied by the administrators to reduce the outstanding liabilities owed to the creditors of Wipac Limited. About £3.5mln of the net proceeds will be paid by the administrator to the Carclo‘s pension scheme and roughly £5.0mln will be used to reduce the outstanding drawn balance of the group’s revolving credit facility.

11.30am: IXICO reveals £2.4mln expansion of study programmes

IXICO PLC (LON:IXI) stormed 15% higher to 81p after revealing a £2.4mln expansion of study programmes with two large pharma client contracts.

The data analytics company that deliver insights in neuroscience said it has agreed around a £1.8mln extension to a Phase III study in Huntington’s Disease (HD), previously announced in September 2018.

In addition, it continued, it has been awarded around a £0.6mln extension to a study programme in Progressive Supranuclear Palsy (PSP), previously announced in October 2019.

10.30am: PowerHouse lower on share-dilution fears

IXICO reveals £2.4mln expansion of study programmes

IXICO PLC (LON:IXI) stormed 15% higher to 81p after revealing a £2.4mln expansion of study programmes with two large pharma client contracts.

The data analytics company that deliver insights in neuroscience said it has agreed around a £1.8mln extension to a Phase III study in Huntington’s Disease (HD), previously announced in September 2018.

In addition, it continued, it has been awarded around a £0.6mln extension to a study programme in Progressive Supranuclear Palsy (PSP), previously announced in October 2019.

 

 

PowerHouse Energy Group PLC (LON:PHE) slipped 4% to 0.47p after the waste-to-energy company said it is in talks to acquire its development partner, Waste2Tricity (W2T).

The acquisition would be in the form of a non-cash transaction using PowerHouse shares to acquire the whole of the issued share capital of W2T, at a ratio of 60% PowerHouse to 40% W2T.

The directors of PowerHouse believe that the enlarged company would be better understood by its customers and investors.

9.30am: OnTheMarket OnTheSlide after it reveals plans to buy stake in rival

Shares in Rightmove wannabe OnTheMarket PLC (LON:OTMP) fell 4.0% to 73p after it placed shares at 70p each, raising £3.4mln.

The property listings website also announced it is to take a 20% stake in Glanty, the owner and developer of ‘teclet’, an automated portal for the lettings industry that is designed to reduce overheads and maximise efficiencies for lettings agents.

The 20% stake will cost OnTheMarket £797,000, spread over 10 months.

The fizz went out of Nichols PLC (LON:NICL) – the shares were down 16% at 1,435p – after it flagged new soft drink taxes in the Middle East.

The company’s flagship product, Vimto, is a popular drink in the Muslim community during Ramadan and the concern is that sales of the drink will be hit by a recently implemented excise tax of 50% to be levied on the retail price of non-carbonated sweetened drinks in Saudi Arabia and the United Arab Emirates (UAE).

The Ramadan trading period accounts for roughly 80% of annual in-country revenues, Nichols revealed.

Proactive news headlines:

Futura Medical PLC (LON:FUM) late on Friday unveiled plans to raise up to £3.25mln with backing from private and professional investors. A £1.5mln tranche is being undertaken via the financial platform Primary bid at 8p a share, a 26% discount to the close last Thursday. Lombard Odier, meanwhile, will pay £1.75mln for 21.875mln Futura shares.

Regency Mines PLC (LON:RGM) the battery metals and energy storage company has announced a partnership deal with ion Ventures Ltd, an investor in and developer of energy storage and flexibility assets.  In a statement, Regency – which is strategically focused around battery metals – said the parties have executed a memorandum of understanding (MOU) to partner on Regency’s existing pipeline of projects, with a view to identifying and prioritising the most commercially attractive projects, securing funding and then moving quickly to first cash flow.

Augmented and virtual reality investor Sure Ventures PLC (LON:SURE) has notched up its first realised gain with the sale of 3D artificial intelligence platform Artomatix. The investment was held by 25.9% owned associate Suir Valley Ventures (SVV) with the sale price a cash multiple of approximately five times its initial investment. Sure Ventures will book a profit of €1.6mln from the sale.

Eden Research plc (LON:EDEN) has signed its second exclusive distribution contract in a week for grape fungicide Mevalone. Italian group Sipcam will market, distribute and sell the product in Portugal and the Benelux region.

IXICO PLC (LON:IXI), the data analytics company delivering insights in neuroscience, has got a pre-Christmas boost, revealing a  £2.4mln expansion of study programmes with two large pharma client contracts. In a brief statement, the AIM-listed firm said it has agreed around a £1.8mln extension to a Phase III study in Huntington’s Disease (HD), previously announced in September 2018. In addition, it continued, it has been awarded around a £0.6mln extension to a study programme in Progressive Supranuclear Palsy (PSP), previously announced in October 2019.

Zoetic International PLC (LON:ZOE) said its interim results revealed the CBD specialist’s ‘seed to shelf’ strategy was working, with the company’s chief executive upbeat on the prospects for next year. “Shareholders have come to know me for my conservative approach and I am not one for grand predictions but I remain confident that our multi-channel sales approach can bring success to our company,” said Nick Tulloch in comments accompanying its first-half update.

Just in time for a bit of last-minute Christmas shopping for the devoted angler, Angling Direct PLC (LON:ANG) has opened a new store. It is located in Swinton, Greater Manchester and brings the total number of Angling Direct stores across the UK to 34, ten of which have been opened this year.

Minds + Machines Group Limited (LON:MMX), the top-level domain registry company, has revealed that it has continued to trade well in the fourth quarter as it announced the completed renegotiation of an onerous legacy contract. In a brief statement, the group said that further to its announcement of 18 July 2019, all existing and future liabilities, estimated at US$7.9mln, arising from that contract have been settled through a single one-off payment of US$5.1mln.

U.S. Oil & Gas PLC (USOIL) told investors that it is presently preparing applications for permits to drill three new wells. The company said it hopes to drill a well in the first quarter of 2020, subject to regulatory approvals, and subsequent drilling would depend upon the outcome of the first well

Vast Resources PLC (LON:VAST) has told investors it has kicked off a new drill programme at the Baita Plai polymetallic mine in Romania. Findings from the programme will be used to further define the grades and resource, the company said. It will support existing efforts to confirm a JORC compliant resource statement for the project. Operations are advancing at Baita Plai where the cold commissioning of new mine operations also started last week.

Alba Mineral Resources PLC (LON:ALBA) has updated on the Horse Hill oil project where the new horizontal well has completed its initial flow testing period, showing positive rates but also a requirement for certain interventions. Fellow Horse Hill stakeholder UK Oil & Gas PLC (LON:UKOG) highlighted that the new horizontal well initially flowed at some 1,087 barrels of fluid per day during ‘clean-up’ with oil cuts of up to 60%.

Kazera Global PLC (LON:KZG) is looking forward to commencing phase 2 of its drilling programme at the Namibia Tantalite Investment (NTI) Mine. In its final results statement covering the year to the end of June, the Namibia-focused company said Phase 2 exploration step-out drilling should be completed in the first half of 2020 and is expected to identify further mineral resources.