Anglo African Oil & Gas PLC (LON:AAOG) was the biggest riser on New Year’s Eve after receiving a proposal from Jub Capital. Jub has offered to acquire the shares currently held by RiverFort and its associates at a price of 1p per share and return “a substantial part” of the proceeds to the company, while also subscribing for £300,000-worth of new shares at the same price, with these shares having a number of warrants attached exercisable within the next two years at 1.5p.
Redx Pharma PLC (LON:REDX) said it is in discussions about a possible cash offer from an investor group led by Franco-US biotech veteran Sam Waksal. The company said the announcement did not amount to a firm intention to make an offer and there can be no certainty that any offer will be made, with Waksal having until 5pm on 28 January 2020 to make a firm bid or walk away.
Bango PLC (LON:BGO) said underlying earnings were positive this year as end-user spend of its mobile customer billing technology doubled for the fifth year in a row. Revenue in 2019 is expected to have risen 40% to at least £9.3mln, the company said, which was below market expectation primarily due to two contracts being pushed back from December into early 2020.
Power Metal Resources PLC (LON:POW) will take up the offer of a 40% earn-in interest in the Molopo Farms metals complex in Botswana, where airborne surveys have located five key targets for initial drilling. Power Metal has confirmed to its project partner that plans to take up a 40% project interest of Molopo, which is currently 100%-owned by Kalahari Key Mineral Exploration Pty Limited (KKME).
Walls & Futures REIT Plc (NEX:WAFR) said it has completed the redevelopment of its Didcot property as it reported results for the first half of the year. The Didcot property was acquired in early June and, the company said, has been let on a 25-year full repairing and insuring lease, with rents adjusted annually in line with CPI inflation, to one of the UK’s largest and longest established care providers.
Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, announced that it has acquired two new ATR 72-600 aircraft from the manufacturer, Avions de Transport Regional GIE. The group said these aircraft will be configured by the manufacturer and delivered on lease to Braathens Regional Airways AB, with deliveries scheduled for mid-January 2020 and during March 202.
Amphion Innovations PLC (LON:AMP) announced that its shares will be cancelled from trading on AIM at 7:00 am on 2 January 2020 as it is not in a position to publish its audited financial statements for the year ended December 2018 by the date required. The company said it remains highly cash-constrained and unfortunately, despite efforts of the directors the company has not been able to secure additional funding in time in order to provide clarity over its going concern status within this timeframe. It added that those efforts will continue into the new year and the board looks forward to making a positive announcement about the company’s future early in the new year, with future updates to be available on the corporate website. The group said its board is considering a number of possibilities, which include a potential application for the ordinary shares to be admitted to trading on AIM at a later point in time.
The merger between Open Orphan PLC (LON:ORPH) and AIM-listed peer hVIVO PLC (LON:HVO) is going ahead after sufficient shareholder approval has been received. So far, the deal, where hVIVO shareholders will receive 2.47 Open Orphan shares for every hVIVO share they own, has gained acceptance over 86.9% of the hVIVO shares.
Ncondezi Energy Ltd (LON:NCCL) said it remains on track to deliver a formal tariff offer to the Mozambique authorities in “early Q1 2020” after receiving tender bids from engineering and operations partners. The AIM-listed company said it has been given updated engineering, procurement and construction (EPC) and operations and maintenance (O&M) bids for its proposed 300-megawatt power station, with supporting information “on track” for early January.
Amur Minerals Corporation (LON:AMUR), the nickel-copper sulphide exploration and development company focused on the far east of Russia, has said the Permanent Conditions TEO work programme is a priority task for the company going forward, with its completion and submission to the State Committee on Reserves (GKZ) due in December 2020. The study, which is being compiled by OOO Oreol, a lead independent and certified Russian company experienced in the compilation of such studies, will allow Amur to establish a project design for use in the acquisition of the required operational permits and the construction of the Kun-Manie nickel-copper sulphide project.
Iconic Labs PLC (LON:ICON), a multi-divisional new media and technology business, advises that at its Annual General Meeting, held on Monday, all resolutions were duly passed on a poll vote, with the sole exception of resolution 11 (empowering Directors to allot shares for cash without first offering them to existing shareholders on a pro-rata basis), which was a special resolution requiring a 75% vote in favour.