Sirius Minerals PLC (LON:SXX) shareholders, those that have yet to exit in the market, will now endure the long goodbye – as the controversial UK mine firm confirmed the timeline to the completion of its acquisition by Anglo American Plc (LON:AAL). Yesterday it was confirmed that Tuesday’s shareholder meeting greenlighted Anglo’s £400mln takeover. Over 1,300 investors cast their vote, with 80.28% in favour to surpass the required 75% threshold for the deal to go ahead.
Quadrise Fuels International PLC (LON:QFI) shares surged on Thursday after the firm said “significant progress” had been made in preparation for a pilot trial of its MSAR fuel at an industrial client site in Morocco. The AIM-listed company said the fabrication of an MSAR plumbing and heating unit (PHU) had been completed at its research facility in February as planned and was then used to successfully complete burner tip spray testing.
Faron Pharmaceuticals Oy (LON:FARN, First North:FARON) said its MATINS phase I/II clinical trial has identified another partial response to its cancer drug, Clevegen. Remember, early-stage trials of this sort are usually only concerned with assessing safety, side-effects, and dosing. In Part I of the MATINS trial it was discovered the lung metastasis of a melanoma patient shrank by 44% after receiving the Faron drug.
Franchise Brands PLC (LON:FRAN) posted a 29% increase in adjusted underlying earnings (EBITDA) for 2019, driven by accelerating Metro Rod system sales. The multi-brands franchise business increased its adjusted EBITDA to £5.2mln from £4.0mln on the back of a 24%, while revenue rose to £44.0mln from £35.5mln the previous year. Profit before tax climbed to £3.28mln from £2.86mln the year before.
MTI Wireless Edge Ltd (LON:MWE) announced that its wireless irrigation control solutions subsidiary, Mottech Water Solutions Ltd has signed a renewal service agreement valued at approximately US$0.9mln. The AIM-listed technology group, which is focused on comprehensive communication and radio frequency solutions across multiple sectors, said the renewal service agreement is with one of the five largest municipalities in Israel and one of Mottech’s largest service customers.
Zoetic International PLC (LON:ZOE) has delivered an update to investors on the progress of its cannabidiol (CBD) business. The company said that a contract with a US national distributor for smokable products and chew pouches was in final form and would be signed once it concluded successful trials with its contract manufacturing partners.
Stobart Group Ltd (LON:STOB), which holds a 30% stake in Flybe owner Connect Airways, said the collapse of the regional airline will result in a non-cash balance sheet impact of £43.3mln as well as an additional £7mln investment made in 2020. Both will be written down to zero.
Mineral & Financial Investments Ltd (LON:MAFL) expects that its portfolio could benefit from the gold price rally, as it is overweight precious metals. The company noted also that it has taken a position in ProShares UltraPro Short ETF. “The position cost us some performance in Q2, but in February 2020 they have rallied from US$16 to US$23.76, as at the writing of this statement,” the company said, in its interim results.
Futura Medical PLC (LON:FUM) said it is hosting an investor seminar later this month at which it will share the latest internal analysis and literature on its breakthrough erectile dysfunction gel, MED3000. The update follows the company’s phase III clinical trial, called FM57, which revealed the treatment, which uses the company’s DermaSys technology, to be “highly effective” and safe.
Avation PLC (LON:AVAP) has terminated leases for two of its ATR 72-600 aircraft with FlyBe after the airline collapsed into administration overnight. As FlyBe had been sub-leasing the planes to Loganair, Avation said the Scottish carrier will now become its customer and will take over the leases for the two aircraft.
Blue Star Capital PLC (LON:BLU) expects more progress this year from its two key investments with a boost also to come from a recent move into esports. An improvement in the value of 27.9% owned micropayment specialist SatoshiPay help assets rise slightly to £5.1mln in the year to September, even though Blue Star itself posted a loss of £685,000.
Proactive Research also issued an initiation note on Blue Star Capital on Thursday. Analyst Ed Stacey said: “During the remainder of 2020 there are a number of potential catalysts for further valuation uplifts within the portfolio, including anticipated funding rounds for SatoshiPay, Sthaler, and further corporate transactions within the esports portfolio.”
Eden Research plc (LON:EDEN), the AIM-quoted biopesticide products group, said its non-executive chairman, Lykele van der Broek has purchased a total of 571,000 ordinary shares in the company at an average price of 6.65p. Following the transaction, the group said, van der Broek’s interest in the company is 929,500 ordinary shares representing around 0.45% of the issued share capital.
Chaarat Gold Holdings Limited (LON:CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, has announced the appointment of finnCap as its joint corporate broker with immediate effect. The group said finnCap will work together with the company’s existing brokers Numis Securities and SP Angel Corporate Finance.
Iconic Labs PLC’s (LON:ICON) recent acquisition Gay Star News has signed a content and marketing agreement with an unnamed sports and entertainment presenter. It is the third such content and marketing deal GSN has signed in the space of four weeks, with the previous deals involving an airline and wealth manager.
In a separate statement, Iconic Labs PLC said it requested the suspension of the listing of its ordinary shares from 07:30am today because it has come to its attention that, in respect of a number of ordinary shares issued and allotted by the Company during 2019, not all Form 1 submissions had been submitted, as was required and which relate in part to the securities referred to in the prospectus, published on 22 February 2019, and for which the time period to make such submissions has now expired. The company said it intends to address this issue through the approval and publication of a new prospectus and subsequent submission of all required Form 1 submissions. The group said it hopes to be able to publish the new prospectus within two weeks, but will update the market as to progress.