The housing repairs specialist said activity levels in its business are returning to normal while its contract wins rate remains healthy.
The group is progressing well with the planned disposal of its the Scotland Domiciliary Care business and expects to complete the disposal during 2020.
1.30pm: Angling Direct reaps benefit of pent-up demand
The largest specialist fishing tackle and equipment retailer in the UK said it saw strong pent-up sales demand when its stores reopened following closures for the coronavirus (COVID-19) pandemic.
All of the group’s UK stores are now open for business again and saw year-on-year like-for-like (LFL) sales growth of 75% between June 15, 2020, and the end of July.
12.35pm: Faron lifted by Traumakine update
Faron Pharmaceuticals Oy’s (LON:FARN) update on its Traumakine breathed new life into the share price, which was up 8.8% at 495p.
The Finnish clinical-stage biopharmaceutical company has received a guarantee from Finnvera Oyj, the state-owned financing company, for a €2.5mln loan that will be provided by Danske Bank.
Proceeds from the loan will be used to further expand the use of a new cell line that Faron plans to establish using the previously received Business Finland loan of €2.1mln announced in mid-June, which will be used in the future commercial-scale production of Traumakine.
11.40am: Adamas Finance Asia surges as it looks to buy back its “significantly undervalued” shares
The company said it believes its shares are currently “significantly undervalued” and it intends to enter the market to purchase its own shares when opportunities arise to purchase them at or below current levels.
“Current levels” at the time the announcement was made were around 26p.
10.45am: H C Slingsby rockets after bumper sales month in June
H C Slingsby PLC (LON:SLNG) caught the market on the hop with its half-year report, which sent the shares rocketing 68% higher to 210p.
June was a bumper sales month for the commercial and industrial equipment supplier, with revenue up 50% on June of last year.
“Orders remain focussed on a limited number of products. The group has managed to largely fulfil demand for these products to enable customers to continue or re-start their operations in accordance with Government Coronavirus guidance; however, we remain cautious that this increase in demand is short term and economic conditions may deteriorate should our customers suffer from lower levels of activity than they experienced prior to the pandemic when Government stimulus measures are withdrawn,” said Slingsby’s chairman, Dominic Slingsby.
9.30am: Supply@Me Capital kicks on again as CEO Alessandro Zamboni adds to his stake
Supply@Me Capital PLC (LON:SYME) was the London market’s biggest gainer in early trade on Tuesday morning, up 48% to 0.845p as the group’s CEO increased his holding in the company.
In a statement, Supply@Me revealed that Orchestra Group, which is owned by its chief executive officer (CEO) Alessandro Zamboni has acquired 1.63bn shares at 0.6756p per share from Ceresio SIM SpA.
The share purchase increases Orchestra Group’s holding in the fintech company to 23.96% of its share capital, up from 18.98% previously.
Gfinity said the digital media business arm is expected to generate £2mln in revenues for the financial year ending June 30, 2021.
The esports events group said the digital media arm is one of its fastest-growing revenue streams, having delivered close to £200,000 through on-site advertising by the end of July after implementing a partnership with advertising group Venatus in mid-April.
Proactive news headlines:
Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLS) has announced that the US Patent and Trademark Office (USPTO) has granted a patent on use and methods of treatment of Crohn’s disease with Foralumab, its proprietary fully human monoclonal antibody, and all other anti-CD3 monoclonal antibodies (mAb). The biotechnology company, which is focused on innovative therapeutics for oncology, inflammation and infectious diseases, noted that the CD3 (cluster of differentiation 3) is a protein complex on T-cells, which is important for the regulation of the immune system. It said the patent will be published by the USPTO on September 1, 2020, as Patent No.10,759,858.
Supply@Me Capital PLC (LON:SYME) has revealed that Orchestra Group, which is owned by its CEO Alessandro Zamboni has acquired 1,630,000,000 ordinary shares of 0.002p each in the capital of the company at 0.6756p per share from Ceresio SIM SpA. The share purchase increases Orchestra Group’s holding in Supply@Me to 23.96% of its share capital, up from 18.98% previously.
Gfinity PLC (LON:GFIN) has highlighted continued growth in its digital media business, saying the business arm is expected to generate £2mln in revenues for the financial year ending June 30, 2021. The esports events group said the digital media arm was one of its fastest-growing revenue streams, having delivered close to £200,000 through on-site advertising by the end of July after implementing a partnership with advertising group Venatus in mid-April. Gfinity also said the business line has been selected to deliver a “growing number of repeat advertising campaigns for high-profile publishers”, with a “strong pipeline” of direct campaigns already secured and running in August.
OKYO Pharma Ltd (LON:OKYO) said it plans to dual-list its shares on the US Nasdaq market as it raised another £1.4mln and published full-year results overnight. The London-listed company, which is developing novel molecules to treat inflammatory dry eye diseases and chronic pain, issued another round of convertible loan notes (CLNs) on the same terms as those issued last month. This takes its fundraising to £5.4mln since the end of March as it gears up to begin clinical trials for dry eye and exploring additional pain-related peptides in the coming year. OKYO said it now intends to begin the process to obtain a dual listing of its existing shares on Nasdaq, subject to the required regulatory approvals.
Angling Direct PLC (LON:ANG), the largest specialist fishing tackle and equipment retailer in the UK, said it saw strong pent-up sales demand when its stores reopened following closures for the coronavirus (COVID-19) pandemic. All of the group’s UK stores are now open for business again and saw year-on-year like-for-like (LFL) sales growth of 75% between June 15, 2020, and the end of July. Sales across all channels in the same period were up 95% on the corresponding period of 2019, despite all of its bricks and mortar stores being closed between March 24 and June 14. Revenue in the first half of 2020 was up 21% to £32.1mln from £26.5mln in the first half of 2019, with online sales – up 43% to £17.9mln from £12.5mln – driving growth.
MaxCyte Inc (LON:MXCT) has said its CARMA Cell Therapies research arm is expanding the phase I trial of its promising cancer immunotherapy, MCY-M11. Doctors and scientists at Massachusetts General Hospital and Hackensack University Medical Center will join teams at the National Cancer Institute and Washington University at St Louis in helping evaluate the cell therapy. The treatment will be used to combat difficult relapsed or refractory ovarian cancer and malignant peritoneal mesothelioma, which affects the lining of the abdomen.
Faron Pharmaceuticals Oy (LON:FARN) is putting the building blocks in place for commercial production of Traumakine, its investigational intravenous (IV) interferon (IFN) beta-1a prospect for the treatment of acute respiratory distress syndrome (ARDS). The Finnish clinical-stage biopharmaceutical company has received a guarantee from Finnvera Oyj, the state-owned financing company, for a €2.5mln loan that will be provided by Danske Bank. Proceeds from the loan will be used to further expand the use of a new cell line that Faron plans to establish using the previously received Business Finland loan of €2.1mln announced in mid-June, which will be used in the future commercial-scale production of Traumakine. Faron has also selected AGC Biologics as the new manufacturing partner for commercial-scale production of Traumakine.
Aminex PLC (LON:AEX) has appointed Charles Santos as its new non-executive chairman and Tom Mackay as a non-executive director, both with immediate effect. At the same time, Robert Ambrose returns to his prior role as interim chief executive. “Following recent changes, we have taken the opportunity to rebalance the board of directors with the appointment of two independent directors,” Ambrose said in a statement. “Charles and Tom are high-quality independent appointees, bringing a range of skills to the Board of Aminex. We warmly welcome Charles and welcome back Tom to the Board and look forward to working with them both.”
Coinsilium Group Limited (LON:COIN) said its joint venture, IOV Asia has signed a memorandum of understanding (MoU) with Vietnamese firm RedFOX Labs to build a fast scaling internet business on and for the RSK blockchain in Southeast Asia. The blockchain, crypto and decentralised finance venture firm said the MoU is expected to lead to formal commercial and technical agreements whereby RedFOX will migrate its applications to the RSK blockchain and become a hub for RSK blockchain technology expertise in Vietnam under the IOV Asia umbrella. Coinsilium added that the deal will also enable IOV Asia to showcase the attributes and benefits of RSK technology to potential clients in the region.
Enteq Upstream PLC (LON:NTQ) has landed a new US$900,000 order for equipment to be deployed in Saudi Aramco drilling operations. The AIM-quoted oil and gas technology firm received the order via its new strategic partner in the Kingdom of Saudi Arabia, Sawafi Aljazeera Oilfield Products and Services. The order is for Enteq’s recently released XXH product, which is an ultra-high durability version of Enteq’s Measurement While Drilling technology. Enteq noted that the order will be used in the process of Sawafi obtaining full supplier accreditation with Saudi Aramco.
Gaming Realms PLC (LON:GMR) said it has continued to trade ahead of market expectations for the full-year, swinging into positive earnings territory in the first half of its current year. In a trading update, the developer of mobile gambling content said revenues for its first half were at £5mln, up from £3.1mln a year ago, while it also swung to adjusted underlying earnings (EBITDA) of £1.2mln compared to a £100,000 loss in 2019. Gaming Realms attributed the performance to the expansion of its partners internationally and the release of new ‘Slingo’ games which have increased take-up by its customers.
Union Jack Oil PLC (LON:UJO) has updated investors on the West Newton project where drilling operations will begin imminently on the West Newton B-1 well. Following the completion of site preparation work, the programme gets underway with conductor drilling down to 80 metres at which point casing will be set before the main drill rig is erected for the remainder of the programme down to 2,000 metres. The drill programme will be undertaken 24 hours a day for six to ten weeks. Union Jack owns a 16.665% interest in the West Newton project.
World High Life PLC (AQSE:LIFE) (OTCQB:WRHLF) has said its London-based CBD brand Love Hemp has begun construction of a new 13,500-square feet facility that will allow it to increase production by 400%. That means capacity will grow to 43,000 units of cannabidiol oils, capsules and cosmetics per day from the current limit of 8,000. Providing improved storage, production capacity and lead times, the new unit will become operational in phases with full completion expected by next February.
Stobart Group Limited (LON:STOB) has expressed its disappointment at the decision by easyJet PLC (LON:EZJ) to cease flying from London Southend airport but has said it expects the slots will prove attractive to other airlines. The infrastructure and services group, which operates London Southend airport, noted that easyJet currently (until the end of August) flies to 21 destinations from London Southend and expects these leisure-focused routes will be attractive to other airlines. As well as terminating services from London Southend, easyJet has also announced its intention to close its base at London Stansted.
Bidstack Group PLC (LON:BIDS) chief executive James Draper has highlighted the video game advertising group’s continuing progress alongside its latest interim results. The firm, which is driving in-game advertising as a new advertising category, advanced commercial aspects of its business during the first six months of 2020, for example, initiating relationships with major brands – including Audi, Shell, Subway, Unilever, Vodafone, and VW – with small spend pilot campaigns. “The board continues to expect revenues for 2020 to be very significantly second-half weighted and in line with market expectations for the full year,” Draper said in the results statement.
One Media IP Group PLC (LON:OMIP) has raised additional cash in an oversubscribed share placing to fund the acquisition of exclusive rights which will be used to create and expand its digital asset holdings. The digital music rights acquirer, publisher and distributor said it raised £6mln through a placing of around 86.3mln shares to new and existing institutional and other investors at a price of 7p each, a 3.4% discount to its closing price on Monday. One Media said the acquisitions funded by the placing proceeds will focus on a portion of copyrights in performance and writers shares, primarily through the Harmony IP asset release program.
FastForward Innovations Ltd. (LON:FFWD) has noted that investee company, EMMAC Life Sciences has secured a Swiss licence which allows it to import, distribute and export medicinal products, including medical cannabis, for domestic, EU and international markets. EMMAC Life Sciences, Europe’s largest independent cannabis company, said EMMAC SAGL, the group’s pharmaceutical entity in Switzerland, has secured the Good Distribution Practice (GDP) licence for the distribution of medicinal products. AIM-quoted FastForward, which is focusing on making investments in fast-growing and industry-leading businesses, has a 2.3% interest in the issued stock of EMMAC.
Sunrise Resources PLC (LON:SRES) has said that no appeals have been lodged against the mine reclamation permit that was granted for its CS pozzolan-perlite project in Nevada earlier this month. The company added that it has now been advised that the appeals period has closed. The relevant authority, the Nevada Division of Environmental Protection has also said that it is intending to issue a Class II Air Quality Operating Permit for the operation of the mine and mineral processing plant.
NQ Minerals PLC (AQSE:NQMI) (OTCQB:NQMLF) (OTCQB:NQMIY) has returned an average grade of 3.2 grams per tonne of gold from extensive surface stockpiles located at the Beaconsfield gold mine in Tasmania, Australia. Excellent gold grades exist in approximately 80,000 tonnes of surveyed stockpiles in the area called the historic Wetlands area, due east of the Beaconsfield townsite. To date, 105 samples taken from these stockpiles have returned an average gold grade of 3.2 grams per tonnes of gold. Sampling will continue over the entire stockpile sites, to determine the full extent of the contained gold in this area.
Eurasia Mining PLC (LON:EUA) has raised US$10mln via a placing of shares to institutional investors at 22.5p each, with the proceeds to be used to scale up production at the West Kytlim platinum group metals project in Russia. The company also said it has access to the previously announced US$1mln credit line which is provided by way of a loan agreement between Eurasia and Hamomelia Services Limited, a company owned and controlled by Dmitry Suschov, a director of Eurasia. Eurasia continues to produce at West Kytlim, with no adverse impact expected from the coronavirus pandemic.