logo-loader

Grafenia shares wanted after it issues shares at a premium

Last updated: 01:51 26 Mar 2019 AEDT, First published: 20:23 25 Mar 2019 AEDT

Photocopier

Stock market minnows do not usually see their share price rise after raising funds but print specialist Grafenia Plc (LON:GRA) managed it on Monday.

The shares rose 1.25p to 12.5p after it issued shares at 13.5p a pop – well above the 11.25p at which they closed on Friday.

Non-executive director Conrad Bona was happy to pay over the odds for 222,222 subscription Shares, taking his stake in the company up to 1.1mln shares, equivalent to 1.28% of the issued share capital of Grafenia.

German companies Langfrist and Value Focus, both of which already owned more than 10% of Grafenia prior to the share issue, also subscribed for shares.

Langfrist and Value Focus bought 3.15mln and 2.96mln shares respectively. 

1.00pm: Quixant dims after cautious outlook statement​

Quixant PLC (LON:QXT) shares tumbled after a record set of final results was overshadowed by a more cautious outlook on the year ahead.

The company, which makes computers and monitors for slot and other gaming machines, said 2018 was another year of record revenue and profits, despite softer than expected demand from several of its key customers.

“Market conditions have normalised during 2019, although some of our key customers have indicated to us that their demand for our gaming platforms will be more second-half weighted than previous years, and we consequently anticipate our performance to mirror this trend,” revealed Jon Jayal, the chief executive officer of Quixant.

Shares in Quixant were off 25p at 307.5p.

READ Quixant posts record figures in 2018 but shares tumble on cautious outlook

11.45am: Confidence in full-year outcome at Aeorema cuts no ices with investors

Live events agency Aeorema Communications PLC (LON:AEO) staged a bit of a song and dance about being confident of meeting full-year expectations, to little avail.

The shares slumped 15% to 26p on the back of interim results that showed a half-year loss before tax of £141,478 versus a loss in the corresponding period of 2017 of £250,167.

The first half loss was anticipated due to recruitment costs and increased salaries; this investment is already producing results and creates a structure for growth, declared Michael Hale, the non-executive chairman.

11.00am: SpanceandPeople slashes divi ... but at least it is still paying one

SpaceandPeople PLC (LON:SAL), which describes itself as a retail, promotional and brand experience specialist, gave its shareholders a terrible experience on Monday morning.

The shares tanked, shedding 2.5p at 12p, following the release of the company's results for 2018, which contained news of a reduction in the full-year dividend by two-thirds after the company fell into the red.

The company, which provides retail displays and kiosks, had a number of reasons/excuses (delete as applicable) for its poor performance in 2018: the “Beast from the East” (weather too bad); unseasonably good weather in the second and third quarters (weather too good); the World Cup (England too good – relatively speaking); a loss of venues due to ownership changes (trading too bad).

10.15am: RedT Energy enjoys a day in the sun after signing a partnership deal with Statkraft

RedT Energy PLC (LON:RED) shot up after it signed heads of terms to partner with Statkraft, Europe's largest generator of renewable energy.

The AIM-listed energy storage solutions company will work with Statkraft to provide a fully financed 'solar plus storage' solution to UK commercial and industrial customers.

By combining redT's energy storage infrastructure with a long term corporate power purchase agreement for the solar and storage, provided by Statkraft, customers can benefit from energy savings based on maximising the use of low cost solar power and reducing exposure to volatile energy prices, RedT claimed.

The shares in the company formerly known as Camco were trading at 1.7p, up 39% on the day.

9.30am: IFG Group taken out in £206mln offer; Pantheon springs higher after favourable well result

The board of financial services company IFG Group PLC (LON:IFP) has recommended a private equity bid worth 193p a share.

The shares shot up to 188p from 132.5p overnight on the news.

The offer from Epiris Funds was described as “a compelling opportunity” - i.e. too good to turn down – by IFG’s chief executive officer, Kathryn Purves.

Also flying high in early deals was Pantheon Resources Plc (LON:PANR), the AIM-listed oil and gas exploration company, after a successful flow test of the Alkaid well located on the Alaska North Slope.

The shares climbed 22% to 21p after the company said a six-foot interval was perforated and flow tested at 80 – 100 barrels of light oil (40 degree API) per day.

"This is an excellent result which exceeded our expectations,” said Jay Cheatham.

Proactive News Headlines:

Sound Energy PLC (LON:SOU) has given investors additional technical insights with the release of information from pressure build-up analysis in the TE-7 well, onshore Morocco. The trend observed in the well pressure data over time indicates that higher than previously estimated volumes of gas will be accessible from the well.

After a tough start to 2018, digital services company Be Heard Group PLC (LON:BHRD) has now enjoyed nine consecutive months of profitability.

Kavango Resources PLC (LON:KAV) has intersected over 200 metres of intense alteration with significant anomalous base metal values at its Ditau prospect, in the first hole of an ongoing diamond drilling programme.

Kibo Energy PLC (LON:KIBO) has sent a letter to shareholders in which chief executive, Louis Coetzee, detailed the progress the company has made.

Excluding exceptional items, trading and risk management software provider Brady Plc (LON:BRY) moved back into profit in 2018. The fintech firm, which underwent a restructuring and management overhaul last year, posted adjusted underlying earnings (EBITDA) of £2.6mln, compared to a loss in 2017 of £307,000.

Oil rig contractor Ades International Holding PLC (LON:ADES) posted revenues 30% higher in 2018 as new rigs contributed for the first time and utilisation rates rose. Underlying profits rose by 26% to US$101mln, helped by a rise in the number of rigs under operation to 28 from 12 in 2017.

NetScientific PLC (LON:NSCI) has sold its stakes in portfolio companies Vortex Biosciences Inc and Wanda Inc to investment firm EMV Capital Ltd for £150,000.

Tekcapital PLC’s (LON:TEK) portfolio company Lucyd has filed 13 design patents for a new line of its Lucyd Loud Bluetooth-enabled speaker glasses.

Asiamet Resources Ltd (LON:ARS) has boosted the resource at its Beutong copper project in Indonesia to a total of over 500mln tonnes of ore. Asiamet holds an 80% interest in Beutong through its local operating subsidiary PT Emas Mineral Murni.

Exploration results at the Brits vanadium project, which lies adjacent to the Vametco mine currently being operated by Bushveld Minerals Limited (LON:BMN), have indicated that an eastward expansion of mineralisation is likely. A maiden resource is expected in the second quarter of this year.

Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, has delivered a new ATR 72-600 aircraft to the South Asian airline US-Bangla Airlines, the operating lease of which is at market rates. Avation's Executive Chairman, Jeff Chatfield said: "We are pleased to increase our diverse customer base by adding another new airline and jurisdiction, and we are equally pleased to be delivering from our order book another new ATR 72-600 into service, the world's most popular regional turboprop aircraft."

Danakali Ltd (ASX:DNK) (LON:DNK) has appointed highly experienced potash industry executive Niels Wage as chief executive officer following a thorough global search.

Caledonia Mining Corporation PLC (LON:CMCL) (TSX:CAL) announced that following the maturing of a long term incentive plan award on 23 March, 2019, a total of 53,087 securities were issued to its chief financial officer, Mark Learmonth, and a new long term incentive plan award was made to him. As a result, the group said, Learmonth now holds 149,775 depositary interests which represents an interest in approximately 1.39% of the share capital of the company.

Golden Saint Tech Limited (LON:GST), an integrated information and communication technology infrastructure solutions provider, announced that one of its non-executive directors, Malcolm Groat, has been appointed as a non-executive director of InfraStrata PLC (LON:INFA).

Touchstone Exploration Inc. (LPN:TXP) (TSX:TXP), an oil and gas exploration and production company active in the Republic of Trinidad and Tobago, said it will be holding a live online investor presentation and Q&A session for investors on Wednesday 27 March 2019 at 7pm. The group said the webcast will be recorded and made available on ValueTheMarkets.com after the event.

Salt Lake Potash Limited (LON:SO4) (ASX:SO4) said a new corporate presentation is now available to view on the company's website

Ariana Resources PLC (LON:AAU), the exploration and development company with gold mining operations in Turkey, said it will be participating in the UK Investor Show. The event will take place on Saturday 30 March 2019 at the Queen Elizabeth II Conference Centre Westminster, London, SW1P 3EE.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

9 hours, 42 minutes ago