RBG Holdings PLC (LON:RBGP) shares rose 8.2% to 66p after it said it has continued to trade well in recent weeks.

The litigation-focused law firm, better known as Rosenblatt, said case value and volumes remained significantly ahead year-on-year in September.

The board is holding fire at present on whether it will pay an interim dividend in respect of the current financial year.

12.45pm: Watches of Switzerland ticking over nicely

Watches of Switzerland Group PLC (LON:WOSG), up 23% at 410.5p, was the top riser on the FTSE 250 after it raised full-year expectations.

In a trading update, the retailer said its revenue is expected to come in at £880mln-£910mln, up from a £840mln-£860mln estimate previously, while its underlying margin is estimated to be 1,0%-1.5% as opposed to flat.

In the 13 weeks to October 25, 2020, Watches of Switzerland said its revenue jumped by 20% to £202mln, with its UK performance driven by strong domestic sales offsetting lower tourist and airport business, and regional stores outperforming London sites.

11.50am: Rockfire Resources hitting the heights at Plateau

Rockfire Resources PLC (LON:ROCK) shot up by just a third to 1.175p after its latest update from the drilling programme at the Plateau gold deposit.

Results from the second drill hole of a series of six holes indicated the largest gold intersection so far at the Plateau deposit in North Queensland, with mineralisation over the entire sampled interval of 341.3 metres @ 0.2 grams per tonne gold.

“The very long intervals of gold mineralisation, the abundance of sulphides, higher-grade gold intervals and the very strong alteration continue to encourage our team and indicate potential for a high-grade gold source still to be discovered,2 said David Price, the chief executive officer of Rockfire.

11.00am: Xperdiator acquisition gets the thumbs-up

Xpediator PLC (LON:XPD) shares rose 15% to 26.5p as the market gace the thumbs up to an earnings-enhancing acquisition.

The acquisition of Yorkshire based groupage freight firm Nidd Transport cost Xpediator £4.6mln.

The London-listed UK and Europe-focused freight management company described the deal for Nidd, a specialist in daily express delivery to the continent by road, as complementary and said it brings immediate cross-selling opportunities.

10.15am: Zenith Energy shares suspended

Zenith Energy Limited (LON:ZEN) shares tumbled 24% to 0.325p before the company requested its stock exchange listing be temporarily suspended.

The suspension of trading in the shares has been requested as the company has yet to publish its audited financial statements for the year to March 31, 2020. The company expects the results to be published in or around the week beginning October 19.

The company said it is in the process of engaging a “Big 4” accounting firm to perform a purchase price allocation exercise in respect of its acquisition of Anglo African Oil & Gas Congo SAU.

9.30am: Volga Gas surges after announcing potentially significant oil discovery

Volga Gas PLC (LON:VGAS), up 27% at 30.5p, was the top performer in early trade on Tuesday after it announced the potentially significant discovery of a new oil field.

The oil and gas exploration and production group operating in the Volga Region of Russia said drilling on the Novo Kurilovskiy prospect identified a total of 60 metres of oil-bearing pay.

Since the potential pay thickness is in excess of the calculated depth of the structural closure from seismic mapping, this indicates a potential stratigraphic element to the prospect, with implications of significant upside in terms of gross oil in place, Volga said.

Staying in the sector, Premier Oil PLC (LON:PMO) climbed 10% higher to 16.75p after it unveiled plans for a merger with private equity-backed North Sea peer Chrysaor.

Existing shareholders will retain around 5.45% of the new company after the reverse takeover. The new company is expected to generate over US$3bn of annual revenue and, significantly, Premier Oil’s debts will be refinanced alongside the reverse takeover transaction.

The merger should ensure the survival of the heavily indebted oil product, which is good news for Rockhopper Exploration PLC (LON:RKH), its partner in the Sea Lion field off the coast of the Falkland Islands.

Shares in Rockhopper leapt 28% to 6.22p in the first hour of trading.

 

Proactive news headlines:

Xpediator PLC (LON:XPD) has announced the acquisition of Yorkshire based groupage freight firm Nidd Transport for £4.6mln. The London-listed UK and Europe-focused freight management company described the deal for Nidd, a specialist in daily express delivery to the continent by road, as complementary and said it brings immediate cross-selling opportunities. Xpediator said the deal will be immediately earnings enhancing. Nidd generated some £11mln of revenue in the year ended April 30, for £400,000 profit after tax.

Oncimmune Holdings PLC (LON:ONC) has been awarded funding to help develop a “comprehensive diagnostic tool” for coronavirus (COVID-19). The financial backing comes from the UK Research and Innovation Ideas to Address COVID-19 programme. It will support a collaboration between Oncimmune and Medicines Discovery Catapult (MDC) to deliver a project called IMPACTT, which stands for Immunity Profiling of Patients with COVID-19 for Therapy and Triage.

Inspiration Healthcare Group PLC (LON:IHC) has declared its maiden interim dividend after a positive first-half performance. The global medical device company, which has played its part in sourcing ventilators in the UK for use on coronavirus (COVID-19) sufferers, saw revenue in the six months to the end of July 2020 rise by 77% to £14.2mln, up from £8.1mln the year before. Revenue from the sourcing of ventilators in the period totalled £2.9mln; excluding this revenue and sales contributed by the recent acquisition of ventilator maker SLE, revenue was up 25% on a like-for-like basis.

Caledonia Mining Corporation PLC (LON:CMCL) (TSE:CAL) said it has signed an agreement with the Government of the Republic of Zimbabwe under the terms of which Caledonia will evaluate mining rights, properties and projects in the gold sector that are controlled by the government. The evaluation is with a view of assessing the potential to advance development on these properties or projects, the group added. Caledonia believes Zimbabwe is a highly prospective region for gold discoveries. The company said it has also assessed and continues to assess investment opportunities in the Zimbabwe gold sector that are privately-owned. 

Sureserve Group PLC (LON:SUR) has confirmed it is mulling a return to the dividend list after trading in the last month of its financial year remained in line with management targets.  The year to September 30, 2020, showed “resilient growth in revenue, earnings and cash flow”, the corporate compliance and energy services group said in a post-close season trading update. With net cash of £3mln in the bank at the year-end, ongoing recurring cash flows and an order book of £375mln, the group said its board has the confidence to invest in the business and is considering reinstating its sustainable dividend policy.

Live Company Group PLC (LON:LVCG) has announced it is building a new ‘supertour’ BRICKLIVE Tutankhamun. The tour, which is based around the King Tutankhamun ‘Treasures of the Golden Pharaoh’, will be launched in summer 2021 and will tour the globe to coincide with the 100th anniversary of the discovery of King Tutankhamun’s tomb in November 1922. The entertainment firm said it has also signed a new contract with Inverary Castle in Scotland for Bricklive Fantasy Kingdom which will open next week and run until the end of October.

Galantas Gold Corporation (LON:GAL) (CVE:GAL) said it has re-started concentrate processing operations at the Omagh gold mine in Northern Ireland. The re-start follows a coronavirus-related shutdown which began in May. Underground mining remains suspended. In the period from May 26, 2020, to September 30, 2020, approximately 147 tonnes of concentrate was despatched, containing an estimated 551.5 troy ounces of gold.

Supermarket Income REIT PLC (LON:SUPR) has decided to increase the target amount for its recent share placing to up to £200mln from approximately £150mln. The trust said its board had based this increase on a strong level of support from investors; its confidence in executing on the pipeline; and an increase in further appropriate investment opportunities since the marketing roadshow began. The placing shares will be issued at 104p, a 6.3% discount to the closing price on September 16, 2020.

OptiBiotix Health PLC (LON:OPTI) has seen the deals keep flowing. The group’s latest deal is with a company called United Italian Trading Corporation (UITC), which has landed the exclusive rights to distribute the cholesterol-lowering product line, CholBiomeX3, in Singapore. UITC, whose customers include hospitals, clinics, doctors’ surgeries, and pharmacies, has agreed to order 5,000 boxes for delivery by the end of the year and increasing annual minimum order quantities to retain its exclusivity.

Sativa Wellness Group Inc (LON:SWEL) has told investors its Goodbody Wellness CBD plus vitamin D products are now listed by UK retailer and distribution firm The Health Store. The full premium range of Goodbody Wellness products are listed with the retailer, the European CBD specialist added. The Health Store is Britain’s longest-running health food retailer and supplies more than 800 stores in UK and Ireland along with a further 130 overseas stores across 30 countries.

Blue Star Capital PLC (LON:BLU) said Dynasty eSports, in which it has a 13% stake, is making “rapid progress”. The comment came as the AIM-listed investment company updated investors on the activities of Dynasty, a pioneer in the online eSports portal management (EPM) market. In the third quarter, Dynasty signed three separate software-as-a-service (SaaS) agreements to provide its white-labelled platform to two eSports franchise operators and to the largest telecoms carrier in the Middle East.

Strategic Minerals PLC (LON:SML) (OTCMKTS:SMCDY) said it has received a positive updated mining scoping study and financial assessment from mining consultant Wardell Armstrong International in relation to the Redmoor tungsten and tin project in Cornwall. The study shows the internal rate of return (IRR) at 29% and the net present value (NPV) at US$128mln. The indicative production rate proposed in the study was set at 600,000 tonnes per annum, with a potential mine life of 10-plus years based on 7.2mln tonnes of feed.

Solo Oil PLC (LON:SOLO) told investors it has completed the second closing under its investment facility with US-based energy investor Prolific Basins LLC. In June, Solo signed-up to a funding facility with Prolific for up to US$5mln and this latest draw-down is for US$500,000. GP Jersey, a family office and Solo shareholder, has the right to match Prolific’s investment and has chosen to do so – resulting in a total US$1mln capital boost for the AIM-quoted firm.

Vast Resources PLC (LON:VAST), the AIM-listed mining company, said that Atlas Special Opportunities LLC has given notice to the company that it elects to convert bonds of US$500,000 in accordance with the terms of the Bond Issuance Deed as announced on October 24, 2019. The company said it can confirm it has satisfied the exercise of conversion rights by making payment of the cash alternative amount of US$555,555. It added that following the previous announcement made on September 10, 2020, regarding progress on asset-backed debt financing linked to the Baita Plai Polymetallic Mine in Romania, the company can also confirm that its ongoing progress with the relevant international banking institution is not effected by this conversion by Atlas.

Curtis Banks Group PLC (LON:CBP), one of the UK’s leading SIPP providers, has announced that the pre-conditions to the acquisition of Talbot and Muir Limited, including receipt of approval from the Financial Conduct Authority, have been satisfied, accordingly, completion of the acquisition will occur on October 30, 2020. Will Self, CEO of Curtis Banks, commented: “I am delighted that the acquisition of Talbot and Muir will complete at the end of the month.  Our two businesses are highly compatible in terms of the culture, service offering and distribution routes and this combination reinforces our position as a leading SIPP provider in the UK whilst also being immediately earnings enhancing for the Group as a whole. I very much welcome the Talbot and Muir team into the Curtis Banks Group and I look forward to working with them to drive the future growth of the business.”

Alien Metals Limited (LON:UFO), a minerals exploration and development company, said that, following the receipt of warrant exercise notices, it has issued 6,250,000 ordinary shares of no par value in the capital of the company at an issue price of 0.15p per share and 10,555,556 ordinary shares of no par value in the capital of the company at an issue price of 0.3p per share.

Sensyne Health PLC (LON:SENS), the UK Clinical AI company, has announced that its annual general meeting will be held virtually on October 30, 2020, at 2.00pm GMT. As a result of current public health advice and “Stay at Home” guidance, the Company wishes to notify its shareholders that physical attendance in person at the AGM will not be possible.

Applied Graphene Materials PLC (LON:AGM), the producer of specialty graphene materials, said it will be announcing its preliminary results for the period ended July 31, 2020, on October 14, 2020.