Gold bullion on american dollar banknotes close up

Telecom services provider Toople PLC (LON:TOOP) shot up 16% to 0.0925p after it said it has squeezed out more synergies than anticipated from its acquisition of DMSL.

“Our initial guidance was that the acquisition of DMSL would deliver £50,000 a month of synergy and cost savings as a combined group, we are therefore delighted with the results of the integration and other initiatives delivering over £130,000 per month,” said Andy Hollingworth, the chief executive of Tooplpe.

The company also announced that its financial controller, Paul White, will take over as chief financial officer. Kevin Lawrence, who has been doing the job part-time on an interim basis, will become a non-executive director and chair the audit and remuneration committees.

11.30am: Jersey buoys share price with cash surprise

Jersey Oil and Gas PLC (LON:JOG) shares rose by a sixth to 119.5p after it highlighted a strong cash position and significant progress towards the development of the Greater Buchan Area (GBA) project.

The North Sea oil junior told investors it had £8.9mln of cash at the end of June, some £1mln above budget thanks to disciplined cost management.

At the same time, it noted that a preferred development concept has now been selected for GBA.

10.30am: Appreciate’s sales growth no longer hampered by lockdown restrictions

2-4-6-8! Who do we appreciate?

Appreciate Group PLC (LON:APP) came the response from the market, with the share price of the gift card and hampers provider rising 18% to 28.4p after it revealed ahead of its annual general meeting today that trading has continued to improve.

Billings in September have been 10% higher year-on-year, after August saw billings run 18% lower than in August 2019.

9.30am: Hunters Property signals return to dividend payments

Hunters Property PLC (LON:HUNT) was the top riser in London on Tuesday morning after it signalled its intention to reinstate dividends.

The sales and lettings agency’s shares surged 23% to 53.5p on the publication of its interim results, in which it revealed it has made a good start to the second half of the year after a strong first-half performance despite the restrictions imposed in the fight against the spread of the coronavirus (COVID-19).

Underlying earnings (EBITDA) rose 30% to £1.44mln in the first half of the year from £1.11mln in the corresponding period of 2019, despite network income sliding to £17.1mln from £19.2mln.

On the subject of COVID-19, Novacyt SA (LON:NCYT) leapt 19% to 557.5p after it launched a new COVID-19 antibody test.

The international specialist in clinical diagnostics has launched a CE-Mark approved serology (antibody) 96-well plate ELISA (enzyme-linked immunosorbent assay) test for the detection of IgG antibodies to SARS-CoV-2 derived from plasma and serum samples.

The new antibody test complements Novacyt’s existing COVID-19 product portfolio, in particular, the company’s polymerase chain reaction (PCR) test for COVID-19, to provide clinicians with the diagnostic tools to detect and differentiate between active and prior SARS-CoV-2 infections in patients.

Proactive news headlines

Synairgen PLC (LON:SNG) has inked an agreement that will make available to patients an experimental drug that has shown early promise tackling the worst symptoms of the COVID-19.

Ariana Resources PLC (LON:AAU) plans to pay a special dividend to shareholders once its mooted joint venture deal with Turkish conglomerate Özaltin goes through.

Westminster Group PLC (LON:WSG) said its technology division has been awarded a contract to replace and maintain security screening equipment at the Palace of Westminster, also known as the Houses of Parliament.

IXICO PLC (LON:IXI), the brain imaging analytics specialist, has received a £2mln extension to a contract from a ‘top-20’ pharma client to provide additional imaging services for a pivotal Huntington’s disease (HD) study. 

CentralNic Group PLC (LON:CNIC) said the conditions of its acquisition of Zeropark and Voluum, collectively known as Codewise, have been satisfied or waived, and as such the deal is now unconditional and shall become effective at the end of October.

Ncondezi Energy Limited (LON:NCCL) said it has submitted a historical cost audit report to China Machinery Engineering Corporation (CMEC) for its Ncondezi integrated 300 megawatt (MW) power project in Tete, Mozambique. In a separate announcement covering its results for the six months ended June 30, Ncondezi reported a loss for the period of US$1.21mln, narrowed from US$1.26mln in the previous year, while it ended the first half with cash of US$592,000.

Echo Energy PLC (LON:ECHO) has completed an assessment of the Monte Aymond gas project, part of the Santa Cruz Sur assets, which is now seen as an exciting commercial project. 

Power Metal Resources PLC (LON:POW) has initiated exploration at the Kalahari Copper Belt joint venture with Kavango Resources PLC (LON:KAV). 

Greencoat UK Wind PLC (LON:UKW) has raised gross proceeds of £400mln cash from a share issue to reduce gearing and progress projects in its pipeline.

ImmuPharma PLC (LON:IMM) has increased its stake in Incanthera PLC (AQSE:INC) as the developer of an innovative sun cream raised £350,000 in a share subscription.

Shares in Iofina PLC (LON:IOF) surged on the back of interims that revealed record revenue and underlying earnings (EBITDA) for the iodine extractor. Revenue in the six months to the end of June rose 8% to US$15.74mln from US$14.53mln in the corresponding period of 2019 while EBITDA jumped 50% to US$2.95mln from US$1.97mln.

Pelatro PLC (LON:PTRO) has unveiled an expanded contract with one of its current customers, a large telco firm, and said it has had a good start to the second half.

Zanaga Iron Ore Company Ltd (LON:ZIOC) said the recent rise in the price of iron ore has made its project in the Republic of Congo even more attractive. Work is running within the 2020 budget forecast, it added, while cash reserves at 28 September were US$0.5mln.

Jersey Oil and Gas PLC (LON:JOG) highlighted a strong cash position and significant progress towards the development of the Greater Buchan Area (GBA) project as it reported on the first half of 2020.

Chariot Oil & Gas Limited (LON:CHAR) acting chief executive Adonis Pouroulis highlighted an exciting phase in its evolution, as the company released its interim results.

Powerhouse Energy Group PLC (LON:PHE) has highlighted a “transformative” six months in the first half of its current years as it achieved first commercial revenues from engineering services on its Protos project.

Next Fifteen Communications Group PLC (LON:NFC) is confident of modestly exceeding market expectations for the year after a solid first half.

Ironridge Resources returned a loss before tax of A$6.4mln during the year to 30 June 2020. At the year end, the company had A$7.3mln in the bank, enough to carry it through significant work programmes on its gold and lithium assets in West Africa, especially since it’s also running a drill-for-equity programme with GeoDrill.

AfriTin Mining Ltd (LON:ATM) generated revenue of just over £1mln during the six months to June 2020, as operations at its Uis mine in Namibia continued to gain momentum after the recent start-up. The loss before tax was also just over £1mln.

Crop protection, animal health specialist Eden Research PLC (LON:EDEN) is confident it can capitalise on the market opportunity for biopesticides following its fundraising in March, while the first half of 2020 saw the company make progress with its new insecticide products and pursue other key opportunities in its pipeline.

Alien Metals Ltd (LON:UFO) turned in an operating loss of US$400,000 in the six months to June. As at 30 June 2020, the company had US$700,000 in the bank. 

Advanced Oncotherapy PLC (LON:AVO) is appointing a new independent director with a 35-year track record of “commercialising disruptive med-tech”.