Marr has a 5.58% stake in the company, having notified the energy company of ownership of 275.8mln shares.
2.30pm: ClearStar bags contract with facilities management company
Worth at least US$400,000 a year, it is the firm’s first in the facilities management field.
The unnamed customer has over 120,000 locations under management in a range of industries.
1.30pm: Serabi Gold confident it made a good impression at public hearing
Shares in Serabi Gold PLC(LON:RB,TSX:SBI) rose 9.3% to 88.5p after the long-awaited public hearing for its Coringa Project finally took place.
The company believes that the various government bodies in Brazil formed a positive view of the company and its proposals for progressing the Coringa Project.
The gold exploration and mining company also announced that the newly installed ore sorter at the Palito Complex is now well underway.
12.45pm: MTI Wireless Edge all right on the eastern front
The order, from a Russian customer, is for delivery this year by the company’s MTI Summit subsidiary.
“Since the acquisition of Summit by MTI in 2013, this division has traded under the MTI Summit brand and has been growing very satisfactorily. Customers are increasingly recognising our ability to source radio frequency and microwave components and to be an active partner in helping to solve design challenges by offering suitable components for a particular solution,” said Moni Borovitz, MTI’s chief executive officer.
11/45am: UP Global Sourcing hit by Chinese manufacturing delays
“The extension of the Chinese New Year holiday by nine days to today (Monday 10 February) in the group’s main manufacturing areas is expected to cause production delays,” it revealed.
Nevertheless, the board expects results for the year to the end of July will be in line with market expectations.
10.45am: Watchstone ready to proceed with capital repayment to shareholders
The technology company focused on the insurance industry finally completed the sale of its Healthcare Services business on Friday, giving it roughly £90mln in cash, which is about 195p per share.
Watchstone will now proceed with plans for a further court-approved capital repayment to shareholders; the current plan is to return at least £50mln (representing at least 110p per share) before the end of June 2020.
9.55am: NMC Health hops off its sick bed
The embattled Middle East hospitals owner says it has received two “highly preliminary” bid approaches from Kohlberg Kravis Roberts and GK Investment.
Both potential suitors have until 5pm on 9 March to make a firm offer, according to London takeover rules.
9.00am: Audioboom Group soars as it puts itself in play; Brave Bison snap(chat)s to it
The company has retained Raine Advisors as its financial adviser to examine strategic options for the company, such as strategic partnerships, financial investment, business combinations and potentially the sale of the company.
The company said it has not yet received any bid approaches.
The show, which is called Slick and is focused on male grooming (the beard, hair and skincare kind), has attracted more than 40mln unique viewers in less than two months, Brave Bison said.
Traditionally, the company has focused on Facebook and YouTube but recently has been branching out to use Snapchat, a multimedia messaging app that is particularly popular with “da yoof”.
Proactive news headlines
Intellectual property specialist Tekcapital PLC (LON:TEK) said one of its portfolio companies is working on a technology that could be used to treat coronavirus victims. Belluscura and its research partner Separation Design Group have filed a patent on an oxygen enrichment system for people suffering acute respiratory distress, which occurs in those worst affected by the illness.
MTI Wireless Edge Ltd (LON:MWE) has won a contract worth around US$1.5mnn for the supply of radio frequency components.
Sustainable polymers specialist Itaconix PLC (LON:ITX) has unveiled a new line of functional additives derived from itaconic acid that can be used across a number of product areas, including paints and biodegradable plastics.
Xpediator PLC (LON:XPD) said profits were in line with expectations as turnover rose by nearly 20% in 2019 as the freight management specialist enjoyed the benefits of acquisitions and organic growth.
Shanta Gold Ltd (LON:SHG) is to purchase 100% of the shares of Acacia Exploration (Kenya) Ltd, the local Kenya subsidiary of Barrick Gold (NYSE:GOLD)(TSE:ABX). The primary asset is a 100% participating interest in the West Kenya project which has a resource currently pegged at just under 1.2mln ounces.
Rose Petroleum PLC (LON:ROSE) has received regulatory approval in Utah to extend its lease over the Paradox project, securing some 11,300 acres in the core project area for two more years. In the Rocky Mountain region, which is now Rose’s main focus, the company said it has achieved key milestones in the process of acquiring the McCoy lease – a 317 acre area in Colorado’s Denver-Julesburg Basin.
Bahamas Petroleum Company PLC (LON:BPC) said an extension has been made to the deadline for qualified Bahamian investors to invest in a Bahamian incorporated mutual fund that will invest in the company. Leno Corporate Services Limited, which is managing the fund, has extended the initial subscription period by three days to 5pm EST on Wednesday 12 February.
Ormonde Mining plc (LON:ORM) said it has identified two new non-executive director nominees to replace Michael Donoghue and John Carroll, assuming completion of the proposed disposal of the company’s 30% interest in the Barruecopardo Tungsten mine. The proposed disposal is up for a shareholder vote at a general meeting on Thursday 13 February.