Avation PLC (LON:AVAP) has begun a strategic review which may include the possibility of the company selling itself. The aircraft leasing firm said the strategic review will consider multiple options to “maximise value for shareholders” including merger and acquisition activity, sales within the firm’s aircraft portfolio, as well as the sale of the entire company.
Open Orphan PLC (LON:ORPH) has landed a three-year contract with a ‘tier-one’ German pharmaceuticals company, building on an existing relationship. No financial details were given, though the group said the new deal guaranteed “significant annual revenue” with work expected to get underway this month. Open Orphan unit Venn Life Sciences will provide the new customer pharmacokinetic services that allow the researchers to decide dosing and assess for drug side-effects. Open Orphan also announced that at the company’s General Meeting held earlier Monday in relation to the proposed merger with hVIVO and proposed placing, all of the resolutions put to the meeting were duly passed.
Echo Energy PLC (LON:ECHO) told investors that it has carried out perforation and started stimulation operations for the Campo La Mata x-1 well, at the Tapi Aike project. The mechanical stimulation of the Campo La Mata x-1 well’s deeper secondary target, in the Anita formation, will now begin shortly, the company said. It noted that it will subsequently move on to the shallower primary target, the ‘Magalllanes 20’, which will be perforated and undergo mechanical stimulation. This work is expected to take two weeks.
Tremor International Ltd (LON:TRMR), the video advertising technology company, is to acquire Unruly, News Corp‘s programmatic video marketplace. In return for transferring ownership of Unruly to Tremor, News Corp (NASDAQ:NWS) will receive a 6.91% stake in the AIM-listed firm. Tremor has also entered into a global partnership with News Corp that will equip Tremor with the exclusive right to sell out-stream video on more than 50 News Corp titles in the UK, US and Australia.
Seeing Machines Ltd (LON:SEE) says it has optimised its FOVIO driver monitoring system (DMS) to specially address new European requirements on driver drowsiness and distraction detection due to come into force in 2022. The AIM-listed firm said the new FOVIO variant will be optimised for basic systems that are compliant with the Euro new car assessment program (NCAP), a performance review to evaluate the safety of new vehicles, with the capacity to support more advanced DMS requirements if needed. In a separate announcement, the firm also unveiled plans to showcase its FOVIO DMS technology at the CES 2020 consumer technology show in Las Vegas between 7-10 January.
Bahamas Petroleum Company PLC (LON:BPC) has opened its new Bahamian mutual fund to investors. The company set up the fund last month in order to give qualifying Bahamian investors a route to invest in the company and its upcoming hydrocarbon exploration activities in the waters off the islands. The fund is open to qualifying investors between 6 January until 7 February 2020.
NQ Minerals PLC (LON:NQMI) (OTCMKTS:NQMLF) has delivered another record-breaking set of production results from its Hellyer mine in Tasmania, Australia. During 2019 the company returned steadily increasing production of lead concentrate, such that, in the first quarter, production was running at 4,712 tonnes, while by the end of the year production had hit 8,160 tonnes. Total lead concentrate production for the year rang in at 24,980 tonnes.
Shefa Gems Ltd (LON:SEFA) said its chief financial officer, David Ben David is investing US$50,000 (£38,290) in the company via a convertible loan made out on the same terms as a previous loan of US$200,000 announced in November 2019. This loan is in addition to another previous loan made by David in March.
Genel Energy PLC (LON:GENL) has announced that the TT-34 well at the Taq field will commence production “around the middle of January”. In a statement, the oiler said the well is nearing completion, with a maximum combined flow rate of over 3,900 barrels of oil per day (bopd), while it will have an initial output of between 1,500 and 2,000 bopd once it comes on stream.
Nu-Oil and Gas PLC (LON:NUOG) has raised £420,000 in a share placing to enable the company’s entry into new contracts. Nu-Oil, in a statement, said that the injection of capital will allow it to engage consultants and third-party due diligence providers as it moves towards a ‘reverse takeover’ transaction. It issued 800mln new shares to investors at a price of 0.0525p
Zenith Energy Ltd (LON:ZEN, CVE:ZEE) has agreed to advance £250,000 to Anglo African Oil & Gas PLC (LON:AAOG) in the form of a secured loan. The purpose of the loan is to give Anglo African (AAOG) additional working capital to tide it over until Zenith buys AAOG’s 80% interest in the latter’s subsidiary company that owns a 56% stake in the Tilapia field in the Republic of Congo. The acquisition of the stake is, it should be noted, conditional on AAOG shareholders approving the sale; there is potentially another option on the table in the form of a proposal from Jub Capital, the investment manager focused on smaller companies, to pump money into AAOG although AAOG’s management has expressed scepticism over Jub’s proposition.
Bango PLC (LON:BGO), the mobile commerce company, announces that Ray Anderson, its chief executive officer has purchased 15,000 shares at a price of 112p each. Following this purchase, the group said, Anderson’s total holding in Bango is 6,608,725 shares representing approximately 9.35% of the total issued share capital.
OPG Power Ventures PLC (LON:OPG) as confirmed that, under the payment of a scrip dividend of 0.6p per share in respect for full-year 2019, shareholders will receive one new ordinary share for every 30.25 existing ordinary shares, based upon the scrip price of 18.15p per share. As a result, a total of 12,823,311 scrip shares will be issued today to shareholders on the register as at 13 December 2019.