Management Consulting Group PLC (LON:MMC) plunged 21% to 0.34p after shareholders voted in favour of the proposed delisting of the shares.

The proposed delisting was approved by the Financial Conduct Authority at the beginning of the month but there was still a chance that shareholders would veto it at today’s annual general meeting.

In the end, just 0.15% of the votes cast voted against the delisting.

1.00pm: Gfinity eyes new revenue streams

Gfinity PLC (LON:GFIN) rose 10% to 1.85p after it launched a new digital media group as well as new ecommerce and rewards programmes.

The esports firm said Gfinity Digital Media (GDM) will focus on three revenue streams: website takeovers and programmatic advertising; a non-exclusive relationship with global affiliate marketing network AWIN and analytics platform Trackonomics to drive eCommerce revenue; and content creation and community build product for partners.

The company said it had appointed Talal Musa, who is responsible for its web and social channels, as head of GDM with immediate effect to oversee the development of Gfinity’s owned websites as well as delivering on the “significant revenue opportunities”.

11.30am: Beowulf hopes Swedish parliament can bring an end to the saga

Beowulf Mining PLC (LON:BEM) ventured 10% higher to 4.25p after it emerged the Swedish parliament will discuss its epic quest for mining rights in Sweden.

Last week a written question was put to Ibrahim Baylan, the minister for Business, Industry and Innovation, by Lars Hjälmered, a Moderate Party Member in the Swedish Parliament.

Hjälmered wants to know when the minister and the Swedish government intend to decide on any mining activity in Kallak and Laver; Beowulf’s stalled iron ore project is in the Kallak region.

10.00am: Bahamas Petroleum lifted by rig contract news

Bahamas Petroleum Company PLC (LON:BPC) surged 22% to 1.65p after it inked a rig contract for its hotly anticipated Perseverance-1 exploration well.

The contract commits Stena Drilling to provide a state of the art, sixth-generation drilling rig and associated equipment and services. The well was delayed recently as a result of the coronavirus (COVID-19) pandemic.

The contract sets a ‘firm window’ of drilling operations between December 15, 2020, and February 1, 2021, consistent with the project’s licence obligations which were extended amid force majeure.

9.00am: Panoply bags contract with philanthropic organisation

The Panoply Holdings PLC (LON:TPX) saw its shares go through the roof in early trade in Tuesday, rising 21% to 57.5p after a contract win.

The group said its FutureGov arm has signed a “significant digital transformation contract” with a large, global philanthropic organisation, worth US$5.2mln over 14 months.

The company, which focuses on helping organisations operate more effectively in the digital age, also said it expects to report a strong performance for the first quarter, with continued profitability and strong cash generation.

Modern Water PLC (LON:MWG) continued its recent good run with a rise of 7.2% to 2.23p after announcing new orders from China worth around £410,000.

The company, whose shares were trading as low as 0.45p in mid-March, said it had secured the sale of its largest single order for 20 Microtrace PDV portable trace metal detection units and seven sets of related consumables in China.

Following a directive from the Sichuan Department of Ecology and Environment Office, the new PDV units will be used to improve the province’s emergency response to environmental emergencies and overcome a shortfall to provide comprehensive analysis on water quality.

Proactive news headlines:

Bahamas Petroleum Company PLC (LON:BPC) said it has inked a rig contract for its hotly anticipated Perseverance-1 exploration well which is slated to start potentially as early as the fourth quarter. The contract sets a ‘firm window’ of drilling operations between December 15, 2020, and February 1, 2021, consistent with the project’s licence obligations which were extended amid force majeure. Significantly, the contract sees the estimated costs reduced by around 15% from previously estimated levels, reflecting changes in the global operating environment.

Gfinity PLC (LON:GFIN) said it has launched a new digital media group within the company as well as new eCommerce and rewards programmes to diversify its revenue streams. The esports firm said Gfinity Digital Media (GDM) will focus on three revenue streams; website takeovers and programmatic advertising delivered in partnership with advertising platforms Venatus and Bidstack Group PLC (LON:BIDS), a non-exclusive relationship with global affiliate marketing network AWIN and analytics platform Trackonomics to drive eCommerce revenue, and content creation and community build product for partners, most recently a deal with YaLLa Esports in the Middle East region.

Synairgen PLC (LON:SNG) has confirmed the launch of the clinical trial in a home setting of its inhaled interferon-beta-1a on people with coronavirus (COVID-19). An expansion of the original hospital-based SG016 study, an extra 120 people will receive Synairgen’s SNG001 medication at their homes. The idea is to treat sufferers earlier in the illness – within three days of developing symptoms.

Westminster Group PLC (LON: WSG) revealed it has been contracted to provide a range of fever screening and safety equipment to a global investment manager. The deployment covers the fund manager’s worldwide offices, the security and technology group added, and is part of a ‘Return to Work’ programme following the coronavirus (COVID-19) outbreak. Worth around US$665,000, the contract covers the provision of a range of fever screening systems and sanitisation stations to 85 offices in 37 countries and should be completed with the next few weeks, Westminster said in a statement.

Xpediator PLC (LON:XPD) said its operational performance in 2020 has “held up relatively well” despite disruption caused by the coronavirus (COVID-19) pandemic. In a trading update ahead of its annual general meeting on Tuesday, the freight management specialist said it had “traded resiliently” during the year to date, and while activity levels were “slightly lower” as good demand in some sectors was offset by weakness in others, the impact on the company margins had been “less affected” as a result of cost reduction measures taken at the start of the pandemic. The company said while it was too early to provide definitive guidance for the full year, it believed that business was “performing well in extraordinary circumstances”.

InnovaDerma PLC (LON:IDP) said the focus on its direct to consumer operation was bearing fruit after the coronavirus lockdown hit the bricks and mortar sales of its health and beauty lines. Online accounted for 60% of the company’s total revenues last financial year, so the group said that doubling down has enabled the business to perform “resiliently in a difficult market and significantly offset the weak in-store retail environment”. InnovaDerma said it expects full-year turnover to be at least in line with last year’s figure of £12.9mln.

Frontier IP Group PLC (LON:FIPP) noted that its portfolio company Exscientia Limited, a world leader in AI-driven drug discovery, has raised $60mln through a Series C financing round. The specialist in commercialising intellectual property said the new capital will be used to expand Exscientia’s existing portfolio and pipeline and to accelerate international expansion, including in the USA.

Directa Plus PLC (LON:DCTA) revealed it has been granted an Italian patent for its Planar Thermal Circuit invention. The patent covers the use of the G+ graphene circuit applied onto fabrics of any type. The fabric once treated is able to absorb body heat and move it from the hottest to the coldest point of the circuit, providing a significantly increased sense of comfort to the wearer or user. The graphene nanoplatelets-based products developer said the patent covers the main features of the circuit that make it effective.

FastForward Innovations Ltd (LON:FFWD) has said its portfolio firm, EMMAC Life Sciences will manufacture a product for a coronavirus (COVID-19) clinical trial as part of a consortium led by the University of Valencia. EMMAC, in which FastForward holds a 2.3% stake, said the trail will use the T12 molecule to prevent the disease progressing to Adult Respiratory Distress Syndrome (ARDS), believed to be the leading cause of death in coronavirus patients. In a separate announcement, FastForward said one of its other portfolio firms, Portage Biotech Inc (CSE:PBT.U) (OTCMKTS:PTGEF) will conduct a non-brokered private placement of post-consolidation shares to raise up to US$10mln at a price of US$10 per share, a 10% discount to the 20-day weighted moving average of the common shares price on the CSE. Portage said the proceeds will be used to further development of its immune-oncology portfolio towards clinical testing, as well as forming one to two new companies and enabling the firm to pursue an additional listing of its shares on a “senior stock exchange”.

Bluebird Merchant Ventures PLC (LON:BMV), the Korea-focused gold group, said due diligence has been completed by its prospective lender and finance terms should be confirmed shortly. In March, the AIM-listed junior entered into a legally binding agreement with the South Korean lender over a US$5mln loan to be repaid from future gold production. The financing, if successful, is expected to be received by the end of July, though Bluebird added that while it is optimistic there is still no guarantee it will receive the funding. If it does, Bluebird expects initial mining to commence in six months and gold production three months later.

Vast Resources PLC (LON:VAST) has updated on the Baita Plai polymetallic mine, in Romania, where progress is being made as incoming equipment deliveries continue. The company, in a statement, noted that the second shipment of equipment arrived at the mine this weekend. It included forty-two one cubic metre underground wagons and railway cutting & bending equipment. Vast said the latest arrival means it now has all essential equipment to achieve first production from the mine.

Kavango Resources PLC (LON:KAV) is putting the emphasis on desktop research while travel restrictions apply in Botswana during the coronavirus (COVID-19) outbreak. The company, which is targeting the discovery of mineral deposits in Botswana, said the country had “dealt admirably” with COVID-19 and is already easing travel restrictions. Even so, the company’s plans to conduct exploration work in the field have been affected but its geologists will be poring over the data gathered during 2019 from drilling and surveying as well as data from third parties to identify future drilling targets at the Kalahari Suture Zone (KSZ) project.

88 Energy Ltd (LON:88E), in a brief stock market statement, told investors it has now started to dispatch its ‘bidders statement’ to XCD Energy shareholders as the takeover process for the ASX-listed Alaska peer continues to progress.

Shield Therapeutics PLC (LON:STX) has announced the appointment of Hans Peter Hasler as the company’s non-executive chairman with effect from its annual general meeting (AGM) to be held on June 18, 2020. The commercial-stage, pharmaceutical company, with a focus on addressing iron deficiency with its lead product Feraccru/Accrufer (ferric maltol) announced on May 21 that its current chairman, James Karis would not seek re-election and would be stepping down at the AGM. Haslar has prior executive experience including as chief

Symphony Environmental Technologies PLC (LON:SYM) has said it is seeing increased interest in its d2p anti-microbial technologies and products in the post-coronavirus (COVID-19) world. The biodegradable plastic specialist revealed in its full-year 2019 results statement that it received new orders in May this year for d2p-treated gloves totalling more than £500,000. As previously announced, the group saw revenues in total rise by 53% in the first quarter of 2020 to £2.45mln, up from £1.60mln the year before.

Providence Resources PLC (LON:PVR), the Irish based resource development company has provided an update on the second tranche of the proposed investment in the group by SpotOn Energy Limited. As announced on April 6, 2020, SpotOn Energy invested £0.3mln into Providence as part of a recent $3.3mln fundraising and committed to invest a further £0.2mln within six weeks of that announcement. However, the company said in a statement on Friday that SpotOn Energy has experienced some delays in closing out the necessary arrangements with its consortium because of current working and travel restrictions and has informed Providence that it will be necessary to delay the second tranche of its investment by approximately one week. The company added that it will provide an update to the market upon receipt of the funds.

Emmerson Plc (LON:EML), the Moroccan focused potash development company, announced that Align Research Limited has completed a comprehensive initiation equity research note on the company. To download the full note please visit the following link: