Gfinity PLC (LON:GFIN) shares surged on Friday as the esports media group said it is putting itself up for sale as part of a strategic review to “continue on its current pathway towards profitability” targeted for the first quarter of the 2021 calendar year. In a progress update, the company said it “remains highly confident” in its prospects and that market trends meant it has the opportunity to “significantly expand its growth projections”. Gfinity added that following “considerable corporate and strategic development” over the year to June 30, 2020, as well as a successful fundraising, the group is on a firm financial footing and “well-positioned to drive significant future revenue growth” across its core business areas of digital media, partnerships and esports solutions for brands.
Alien Metals Ltd (LON:UFO) told investors its technical team has successfully completed follow-up geological mapping and sampling programme at the Hamersley iron ore projects. Detailed mapping was conducted over four of the project’s five priority projects during a site visit. Observations in the field indicate that the BHP 19 and BHP 20 prospects may be part of same larger system, the company noted. Additionally, prospects were seen at the Brockman project area.
Remote Monitored Systems PLC (LON:RMS) has said its Gyrometric business is “well-positioned” to meet the challenges of UK technologies services required to achieve an increase in the country’s offshore wind turbine capacity proposed by prime minister Boris Johnson earlier this week. In an update late on Thursday afternoon, the AIM-listed company said Gyrometric is continuing detailed technical discussions with one of the world’s largest manufacturers of offshore wind turbines about the installation and testing of the company’s technology on a large wind turbine in early in 2021.
Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company said it has been notified that yesterday Value Generation Limited, a company beneficially owned by Paul Johnson, its chief executive officer, purchased on market 500,000 ordinary shares of 0.1 pence each in the company at a price of 1.15p each (£5,750 invested). In addition, yesterday Johnson purchased 500,000 ordinary shares through his Self-Invested Personal Pension (SIPP) at a price of 1.15p per share (a further £5,750 invested). Following the above purchases, the group noted, Johnson has a beneficial interest in a total of 58,000,000 Power Metals ordinary shares, representing approximately 7.09% of the issued share capital of the company. In a subsequent statement, Power Metal added that Johnson had today purchased on market 1,000,000 ordinary shares of 0.1 pence each in the company at a price of 1.301p each through his SIPP (£13,010 invested) taking his beneficial interest to a total of 59,000,000 Power Metal ordinary shares, representing approximately 7.21% of the issued share capital of the company.
MetalNRG PLC (LON:MNRG) said its subsidiary joint venture, BritNRG, has signed a sale and purchase agreement to acquire Sunswept Enterprises, an oil and gas firm with a licence portfolio focused in Lincolnshire, UK. Sunswept’s portfolio includes three producing licences and three exploration permits in the English county. The producing assets are the Whisby field, the Reepham field and the Newton on Trent Field, while the company’s subsidiaries have interests in three UK onshore licences.
Oracle Power PLC (LON:ORCP) has said it believes discussions within the Private Power and Infrastructure Board (PPIB) over its Thar Block VI Project are progressing well. Oracle and its consortium partners made a presentation to the PPIB last month, setting out in detail the implementation plan for Thar as an industrial park, centred around the development of a large mine, along with a mine-mouth power plant, a coal gasification (urea/fertiliser) and coal-to-liquids plant. Oracle said this “critical meeting” represented one of the final steps ahead of the view to finalising the award of the letter of intent (LOI) from the PPIB for power.
Minds + Machines Group Limited (LON:MMX) said it is commencing a formal investigation to determine whether certain revenue has been correctly recognised, with a focus principally on a specific contract with multiple elements that was entered into in 2019. The group said the investigation relates to whether all requirements for the recognition of revenue had been met prior to December 31, 2019, and June 30, 2020, or whether such amounts should have been classified as a refundable deposit against future sales or deferred revenue at those dates.
Kodal Minerals PLC (LON:KOD) has said it welcomes the appointment of the interim government in the Republic of Mali. In a statement released after Thursday’s market close, the group noted that alongside the appointment of the government, sanctions imposed by the Economic Community of West African States (ECOWAS) were lifted. “Kodal welcomes the appointment of the interim government and looks forward to working with the government and progressing the mining licence application for the Bougouni Project and moving into a development phase for the project,” the group said.
DeepVerge plc (LON:DVRG) said the Takeover Panel has extended the deadline for the publication of its formal offer document for Modern Water PLC (LON:MWG). It will be released next week (week commencing October 12). DeepVerge has agreed to pay £21.5mln for Modern Water.
W Resources PLC (LON:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, announced that it has issued 397,689,658 ordinary shares of 0.1p per shares at a deemed price of 0.123p each to three creditors to settle amounts totalling £489,158 relating to technical and professional services related fees.
OptiBiotix Health PLC (LON:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes, announced that Stephen O’Hara, its chief executive, will be presenting at an investor webinar being hosted jointly by Turner Pope Investments (TPI) Ltd and Vox Markets. The event will be held on Thursday, October 15, 2020, at 2pm. No new price-sensitive information will be disclosed as part of the presentation.
Amryt Pharma PLC (NASDAQ:AMYT) (LON:AMYT), a global, commercial-stage biopharmaceutical company dedicated to developing and commercializing novel therapeutics to treat patients suffering from serious and life-threatening rare diseases, has announced that it will host a virtual Analyst and Investor Event on Tuesday, November 3, 2020, from 08.30am EST (1.30pmGMT) – 10.30am EST (3.30pm GMT) to present full data from its pivotal EASE Phase 3 trial of FILSUVEZ® (previously AP101 /Oleogel-S10) for the potential treatment of dystrophic and junctional Epidermolysis Bullosa. The virtual event will take place shortly after Amryt presents EASE top-line trial data at the 29th EADV (European Association of Dermatology and Venereology) Virtual Congress 2020 on October 31. To register for the virtual analyst and investor event click here: https://lifescipartners.zoom.us/webinar/register/6715959628430/WN_nkzMw5ZSQEadC54WaduS9w
Kromek PLC (LON:KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, has said its Annual General Meeting (AGM) will be held at 10.30am on October 31, 2020, at Kromek Group PLC, North East Technology Park (NETPark), Thomas Wright Way, Sedgefield, County Durham TS21 3FD. The group said recognises that the AGM represents an important opportunity to engage with shareholders, and provides a forum for shareholders to ask questions of, and speak directly with the board. However, in light of current social distancing measures, and following the local restrictions imposed by the Government in the North East of England, the AGM this year will be run as a closed meeting and shareholders will not be able to attend. The group will make arrangements to ensure that the AGM is quorate and the format of the AGM will be purely functional. Shareholders are therefore strongly encouraged to submit a proxy vote in advance of the AGM.