Trafalgar Property Group PLC (LON:TRAF) jumped 4.8% in late-afternoon trading as the firm announced the sale of its land at Barnett Wood Lane in Ashtead Surrey.
The company said it has sold the land for £687,500 and that the funds will be used as general working capital and for schemes that are either in the planning system or being worked on.
Trafalgar added that it had secured planning permission for its site in Epsom Surrey, which is currently under offer and undergoing due diligence.
Elsewhere, fashion firm Boohoo Group PLC (LON:BOO) climbed 8.7% to 423.3p as it reported strong sales growth during the coronavirus pandemic and announced the acquisition of the online businesses of Oasis and Warehouse from the businesses’ administrators for £5.25mln in cash.
The two retail chains, which collapsed in April, previously generated online sales of £47mln, and for the AIM-listed group this follows its similar acquisitions of Karen Millen and Coast last year.
1.00pm: MediaZest soars as it secures two new projects
Shares in MediaZest PLC (LON:MDZ) soared 37.3% to 0.04p in lunchtime trading after the audiovisual specialist unveiled two new project wins.
The firm said the two projects, which were for the corporate and retail sectors respectively, were awarded by an existing client and a new client and are expected to generate a minimum of £125,000 in revenue, with additional revenues expected from both. The projects are expected to complete in August.
Elsewhere, customer engagement software specialist Pelatro PLC (LON:PTRO) jumped 15.6% to 52p after the group said it was “confident of delivering a performance in line with expectations for 2020” following an increase in its revenue visibility for the year.
In a trading update to be delivered at the company’s AGM on Wednesday, the company said its activities had been “minimally impacted” by the coronavirus pandemic and that demand for its solutions had “not flagged”.
In the fallers, Stagecoach Group PLC (LON:SGC) slipped 2.4% to 68.1p after the rail operator alongside its partners Virgin Trains and French group SNCF lost a court case they brought against the UK government after being disqualified from the franchise bidding process.
The three firms launched the action after they were barred from bidding for the East Midlands, South Eastern and West Coast Mainline franchises last year. Stagecoach alleged the Department for Transport exceeded its statutory duties when it awarded the East Midlands franchises to Dutch group Abellio.
However, following the loss the company said it was disappointed by the High Court ruling but accepted it and would move on.
11.00am: Ethernity tumbles as Israeli grant application is denied
Ethernity Networks Ltd (LON:ENET) shares tumbled 24.3% to 22.7p in late-morning trading after the ethernet specialist said its application for a grant from the Innovation Authority in Israel had been declined.
As a result, the company said it had taken “prompt action” institute cash conservation measures, including a reduction in research and development (R&D) resources, and that it will also be reviewing its product developments to focus resources and solutions on its key markets and customers.
Meanwhile, Domino’s Pizza Group PLC (LON:DOM) slumped 8.4% to 310.6p after it said its first half earnings will be “slightly lower” year-on-year despite a rise in sales during the UK lockdown as the benefits from more pizza deliveries was offset by the added expense of pandemic protection measures for its customers and employees.
From March 23, 2020, to June 14, 2020, when the UK’s lockdown measures came into effect, LFL sales jumped by 5.1% compared to 2.3% for the period from December 31, 2019, to March 22, 2020, before the lockdown measures came into effect.
The picture was less positive in the Republic of Ireland, a smaller part of the group, which saw LFL sales decline by 5.9% from December 31, 2019, to June 14, 2020, with a 9.2% decline in the lockdown period.
In the risers, outsourcing firm Serco Group PLC (LON:SRP) jumped 17.8% to 156.5p after it reinstated its full-year guidance following a strong performance in its first half.
The new guidance predicts an underlying trading profit for the year of around £145mln compared to previous expectations of between £135mln-£150mln, while revenues are expected to be around £3.7bn compared to £3.4bn-£3.5bn previously.
9.00am: Evgen Pharma surges as drug candidate selected for coronavirus trial
Evgen Pharma PLC (LON:EVG) saw its shares surge 20.9% to 11p in early deals on Wednesday after revealing that its lead drug candidate, SFX-01, has been selected for evaluation in a randomised Phase II/III trial that will investigate whether the treatment can reduce the severity or prevent the onset of acute respiratory distress syndrome (ARDS) associated with coronavirus.
The study will recruit up to 300 patients with confirmed or suspected coronavirus from hospitals across the UK and is expected to begin enrolment in July with results expected in 2021.
Elsewhere, digital music solutions firm 7digital Group PLC (LON:7DIG) climbed 9.5% to 0.2p as the company secured a multi-service contract renewal with Universal Music France, a division of Universal Music Group, to support its streaming service through French MVNO La Poste Mobile, the country’s most popular mobile virtual network operators.
7digital’s music-platform-as-a-service will also continue to support Digster, a subsidiary of Universal Music France, to offer curated playlist services bundled with Telco offerings in Europe and to emerging markets in Africa and the Middle East such as the Ivory Coast and Cameroon.
Proactive news headlines:
Pelatro PLC (LON:PTRO) has said it is “confident of delivering a performance in line with expectations for 2020” after the customer engagement software specialist reported an increase in its revenue visibility for the year. In a trading update to be delivered at the company’s AGM on Wednesday, the company said its activities had been “minimally impacted” by the coronavirus pandemic and that demand for its solutions had “not flagged. As a result, Pelatro said its revenue visibility for 2020 had increased to US$5mln with annual recurring revenue (ARR) rising to US$4.7mln.
ReNeuron Group PLC (LON:RENE) has received regulatory approvals in the US and UK to expand its phase IIa stem cell studies in people with the degenerative eye disease retinitis pigmentosa. In the same announcement, investors were told the company would focus its in-house activities on the retinal disease programme, while also developing its exosome-based technology. This, ReNeuron chief executive Olav Hellebø said in the statement, provided the company “with significant near-term opportunities to deliver value-enhancing data and commercial partnerships”.
Panther Metals PLC (LON:PALM) has launched a high-resolution airborne electromagnetic (AEM) and magnetics geophysics survey on the Big Bear gold project in Ontario, Canada. It is using contractor Prospectair Geosurveys which is flying the high-resolution AEM and Magnetics surveys. The programme will comprise some 678 line kilometres. It will use a system designed to provide increased resolution of near-surface targets, popular with Canadian gold and base metal explorers. Panther noted that preliminary data will be expected within 3 days of the survey completion, and data modelling and interpretation reports will be due in July.
Frontier IP PLC (LON:FIPP) said a joint project between it and the University of Cambridge to tackle gum disease has received a £52,891 grant from the National Biofilms Innovation Centre (NBIC). The proof-of-concept award will support an eight-month project to explore the potential of origami-like DNA nanostructures to disrupt the dental plaque biofilms formed by P.gingivalis, the bacterium responsible for gum disease. Built around the work of Dr Ioanna Mela, the investigation will also attempt to identify at least one DNA nanostructure to take forward into commercial development in partnership with industry.
Chariot Oil & Gas PLC (LON:CHAR) has highlighted its continuing work to advance the Anchois gas field, offshore Morocco, to define the project and unlock debt financing. Posting its full-year 2019 results, the company confirmed that completion of pre-FEED work for the gas field is the key strategic focus for the group through the remainder of 2020. It is working to progress concept testing, selection and definition, along with engineering modelling and design. Meanwhile, commercially, it is aiming to secure heads of terms agreement with potential offtake partners.
TomCo Energy PLC (LON:TOM) has raised £1.5mln of new capital from a share placing, with the funds earmarked for the Greenfield Energy joint venture in Utah. The group sold 375mln new shares at a price of 0.4p each, with the number of new shares representing 136% of its current share capital. The placing was arranged by broker Turner Pope Investments and investors will additionally receive one share warrant for every two placing shares they purchase – exercisable at 0.8p over the next two years. TomCo has established the Greenfield Energy LLC joint venture vehicle with engineering partner Valkor LLC to pursue the development of an oil sands plant.
Tekcapital PLC (LON:TEK) the UK intellectual property investment group focused on creating marketplace value from university technology, has said its portfolio company Belluscura PLC is making good progress with its 510K premarket submission to the US Food & Drug Administration (FDA) though it has been impacted by coronavirus (COVID-19) associated external supply chain issues which has increased the scarcity of certain key components, increased lead times, and reduced capacity at part manufacturers and testing facilities. The group said Belluscura is in the process of completing the final surety tests and anticipates it will receive 510K clearance in the second half of 2020. Belluscura is focused on developing novel oxygen-based treatment platforms that can be adapted and applied in a wide range of markets beyond those traditionally applicable to a single product or product line.
Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) has released a virtual site presentation which showcases progress on the process plant site, Lake Way Village, trench network and various construction works at the Lake Way Sulphate of Potash (SOP) Project in Western Australia’s northern Goldfields region. To view the presentation, visit this link: https://www.investi.com.au/api/announcements/so4/d31c6791-c39.pdf
ADM Energy PLC (LON:ADME), an AIM-listed oil and gas investing company has announced the appointment of Hybridan as lead broker of the company with immediate effect.
Advanced Oncotherapy PLC (LON:AVO), the developer of next-generation proton therapy systems for cancer treatment, said it has been informed that Seamus Mulligan has a total beneficial interest in it of 30,405,721 ordinary shares of 25p each, representing 9.92% of the company’s issued share capital. The group noted that Mulligan’s interest is held as to 22,500,000 ordinary shares by Nerano Capital Limited (a 100% subsidiary of Nerano Pharma Limited) and 7,905,721 ordinary shares by Barrymore Investments Limited.
OptiBiotix Health PLC (LON:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes, said it will hold its annual general meeting (AGM) at 11am on Thursday, July 9, 2020. Following the UK government’s guidelines imposing mandatory social distancing measures, including restrictions on gatherings of people, the company added that the 2020 AGM will be convened with the minimum quorum of shareholders present in order to conduct the business of the meeting and shareholders wishing to vote on matters of business are urged to do so via the completion of a proxy form. The final poll vote on each resolution will be published after the AGM on the company’s website. As shareholders will not be able to attend this year’s AGM, the company said it will allow shareholders to send questions in advance via its website – http://optibiotix.com/contact – before 11am on Tuesday, July 7, 2020, and the company will aim to post responses on the their website on the day of the AGM.