Proactive Investors - Run By Investors For Investors

Breakfast News - Directa Plus, Symphony Environmental, Salt Lake Potash and others

Breakfast News -  Directa Plus, Symphony Environmental, Salt Lake Potash and others

Main Market Premium Listing

Gore Street Energy Storage Fund—Seeking to raise £100m for the purposes of investment in a diversified portfolio of utility scale energy storage projects.  Due 12 April.

Odyssean Investment Trust—Raising £100m at £1. Due 1 May. The Company will primarily invest in smaller company equities quoted on markets operated by the London Stock Exchange.

Report in the press that AMC is seeking to spin off Cinema Chain ODEON

  
  
 
 
Breakfast buffet

Directa Plus (DCTA.L) 50p £22.1m

The “producer and supplier of graphene-based products for use in consumer and industrial markets, is pleased to announce the successful completion of industrial field testing of Grafysorber® at an oil treatment plant of OMV Petrom, a leading Romanian integrated oil and gas company and one of the largest in Southern Europe. The tests demonstrated that the deployment of Grafysorber® improved the quality of water used for the injection process (further details provided below). The parties will now work together on the second phase of trials to expand the tests to treat a further contaminant.” “The purpose of the field tests was to trial the ability of Directa Plus' Grafysorber®, which was used in a dedicated treatment facility on a site of OMV Petrom, to remove petroleum hydrocarbons from produced water so that it could be used as injection water. The field tests demonstrated positive results in the industrial decontamination of produced water. In particular, Grafysorber® was successful in significantly reducing the concentration of total petroleum hydrocarbons (TPH) in the produced water to less than 0.5ppm.”

One Media IP Group (OMIP.L) 8.25p £7.21m

“Further to the announcement of 18 December 2017, One Media iP Group plc (AIM: OMIP), a digital media content provider that exploits intellectual property rights around music, video and copyright technology, is pleased to announce the appointment of Lord Michael Grade as Non-Executive Director and Ivan Dunleavy as Non-Executive Chairman of the Group.

The appointments are part of the Group’s stated ambition to capitalise on the growth of the music sector and to pursue further acquisitions in keeping with its original buy and build strategy.

As stated previously, the music industry is being led by growth in the streaming services provided by sites such as Apple Music, Spotify and Amazon, and the advent of devices like the Amazon Echo (Alexa) or Google Home has led to consumers continuing to change their music buying habits and embrace streaming services. The Group believes that this technology-led evolution will ensure that the industry will reap the benefits and enjoy sustained long-term growth.”

 

Symphony Environmental (LON:SYM) 23.5p £35.75m

“Bob Wigley, a Non-Executive Director of Symphony Environmental Technologies plc (AIM: SYM), a global specialist in products and technologies that "make plastic smarter" addressing the 2018 Economic and Social Council (ECOSOC) Partnership Forum held at the United Nations HQ in New York on 4 April 2018 said that 11 countries, most recently Saudi Arabia have now adopted oxo-biodegradable plastic technology which will help solve the world's plastic pollution problems. Mr Wigley's remarks included:   "Recently, some governments have moved on from encouraging the recycling and reuse of plastics to reducing the amount of plastic used in the first place, but we all know that it is going to take a very long time to persuade citizens not to use plastic to the extent that they do today.

There is another option, which is removing plastic from the environment. The problem is that more than half of waste plastic ends up in the environment and we are not doing anything about it. That in turn causes the problem in the oceans as well as problems for politicians, because litter is lying around and citizens, understandably get cross about it. “

Cora Gold (LON:CORA) 13.75p £7.56m

Cora Gold Limited, the West African focused gold exploration company, is pleased to announce that it has completed the first reconnaissance drill programme at the highly prospective Tekeledougou Gold Project in southern Mali.

·     17 reconnaissance reverse circulation drill holes for 2,007m completed at Tekeledougou

·     Two prospects (Kouroudian and Woyani) drilled to vertical depths of 110m to 125m

·     Large footprints uncovered via artisanal workings extending up to 600m in length

·     Broad zones (40m to 50m true widths) of intense quartz observed in drilling with deep weathering profile

Both prospects within approximately 8km of Hummingbird Resources plc's ("Hummingbird") Yanfolila Gold Mine, (Hummingbird is a 33.85% shareholder in Cora)

Initial assay results from Tekeledougou expected late Q2 2018

Immedia (LON:IME) 28p £4.08m

“In March 2017 Immedia, a supplier of multi-media content and digital solutions for leading brands and global businesses, announced that it was undertaking a significant trial of its live broadcast services with a third party on behalf of a major UK high street financial institution.

Today, the Company is delighted to announce that subsequently it has signed a substantial equipment installation contract with a designated contractor on behalf of the same major UK financial institution.  This installation work, in more than 450 branches, is to be undertaken in the current financial year.

There is also a contract in place with this financial institution relating to the production and delivery by the Company of live radio services for an extended trial period.

At this stage, until the service contract is competed in full, the Company is restricted from disclosing any further information. “

We could see no forecasts.

TP Group (LON:TPG) 5.5p £40.6m

“The specialist services and engineering group, is pleased to announce that it has been awarded a contract by the Ministry of Defence (MoD) worth up to £1.2 million over 12 months to provide specialist support to the Land Environment Tactical Communication and Information Systems (LE TacCIS) Program, with the potential for the contract to reach £2.3 million over 2 years.

This contract award follows the previous work that TP Group has undertaken with Army HQ on this programme, first announced in October 2016. This contract is for the supply of skills in Systems Engineering, Project and Programme Management and other specialist activities to support the delivery of this £3.2 billion MoD programme.”

FYDec18E rev £35.9m and £3.4m EBITDA,

Nostra Terra Oil and Gas (LON:NTOG) 3.63p £4.9m

Report on production at its Twin Well and provide a permitting update for its assets in the Permian Basin in Mitchell County, Texas. Average production at the Twin Well for the last 30 days was 58 barrels of oil per day ("bopd").

The Twin Well was drilled to a total depth of 3,200 feet, encountering more than 113 feet of gross oil pay in aggregate across multiple prospective zones, with oil currently being produced from the Clear Fork Formation. Nostra Terra owns a 53.25% Working Interest in the 120 acre lease which has two additional drill ready locations, one of which is now permitted.

The Company has now received approval for the two additional permits, where the Company owns a 73% Working Interest. Accordingly, Nostra Terra now has permits to drill three new wells. All three wells will target the Clear Fork formation and share similar economic profiles to the recently drilled Twin Well. In addition, Nostra Terra continues to assess additional locations to permit, beyond the three awarded, for future drilling.

As previously announced, Nostra Terra expects to commence drilling operations at the first of the three new wells in early May 2018.

Salt Lake Potash (LON:SO4) 32.3 p £56.5m

“The Company has today executed a Memorandum of Understanding (MOU) with Mitsubishi Australia Limited and Mitsubishi Corporation (Mitsubishi) for the first formal Offtake Agreement for the Goldfields Salt Lakes Project (GSLP).

The formal Offtake Agreement will provide Mitsubishi with sales and offtake rights for up to 50% of the Sulphate of Potash (SOP) production from a Demonstration Plant at the GSLP, for distribution into Asia and Oceania and potentially other markets.

Salt Lake Potash is completing studies for construction of a Demonstration Plant producing up to 50,000tpa of high quality SOP, and plans to distribute production through a small number of global distribution partnerships.

The MOU is non-binding and sets out the key terms for a subsequent formal Offtake Agreement as the Demonstration Plant is developed. “

 

Location Sciences (LON:LSAI) 0.02p £3.09m

The “mobile location and data intelligence expert,  announced the completion of its first programme of work under the Google Location Services Provider, or "LSP" certification, for Wren Kitchens. Location Sciences is one of only three certified Google LSPs, and the only one outside of the US.

The Google LSP programme ensures that providers offer location hardware, software and services that have been verified by Google engineers to be compatible with its location platforms. The project saw the installation of proximity network infrastructure to connect consumer footfall at the Wren Kitchens showrooms with online activity, and provide an ongoing LSP service across the Wren estate.

Location Sciences is also pleased to announce it has completed the supply of location data services to the Consumer Data Research Centre ("CDRC"). The CDRC was established by the UK Economic and Social Research Council to supply data to world-class researchers from the University of Leeds, University College London, University of Liverpool and the University of Oxford.

Frontier IP (LON:FIPP) 80.5p £30.8m

Frontier IP, which specialises in commercialising intellectual property, has agreed to provide extra development and engineering support to portfolio company Fieldwork Robotics in return for an increased stake in Fieldwork from 21 per cent to 27.5%

The move will enable Fieldwork to accelerate development of its agricultural robots following interest from the industry.

Fieldwork, a spin-out company from the University of Plymouth, has been incorporated to develop and commercialise the work of Dr Martin Stoelen, Lecturer in Robotics, and his team. The technology consists of a soft, adaptable robot arm and highly sensitive grippers able to handle delicate items.

Frontier IP's increased support will allow Fieldwork to develop a proof-of-principle, field-test ready prototype robot for harvesting vegetables, such as cauliflower. Frontier IP's technology team will help plan the project and work on design, software and electronics.

The project demonstrates the flexibility of the Fieldwork system, where the grippers and tools at the end of the arms can be changed for different applications. Work is well advanced on a soft-fruit picking robot, which has attracted considerable interest from leading producers.

This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.

The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.

Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.

This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute “independent investment research” for the purposes of the Financial Conduct Authority rules. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, directors, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.

In the UK, this document is directed at and is for distribution only to persons who (i) fall within Article 19(5) (persons who have professional experience in matters relating to investments) or Article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the Financial Conduct Authority) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as “relevant persons”). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by persons who would be classified as Retail Clients (as defined by the rules of the Financial Conduct Authority).

Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of UK or US securities law, or the law of any such other jurisdictions.

Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, directors, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.

Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior consent of Hybridan LLP.

Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use