Shares rose 10.7% to 1.7p in morning trading.
Crabb previously served as chief executive of software firm Cambridge Online Systems, helping to turn the company from a loss-making business to one with top-quartile financial results.
“We recognise that a small, multi-disciplinary team has its limitations, which resulted in some operational delays over the past 12 months, so I am delighted that Feedback has attracted a highly experienced executive to complement the strong technical and regulatory expertise within the company,” said Feedback chairman Alastair Riddell.
Origin Enterprises PLC (LON:OGN) shares dipped as the agricultural group announced the resignation of chief financial officer Imelda Hurley.
Hurley will leave the group on April 30 to pursue other business, academic and personal interests, Origin said.
Origin has kicked off the search for a new CFO.
Shares are down 3.4% to 5.7p.
1.00pm: Kibo Mining gains, Hargreaves Services declines
The MoU constitutes the precursor to the finalisation of a power purchase agreement, under which Kibo’s Mbeya project will supply power to TANESCO.
The PPA is expected to be completed as soon as the end of the first quarter of 2018.
"This is a seminal moment for Kibo as a signed MOU signals the official engagement by TANESCO and the Ministry in the formal implementation of the MCPP and moves us to just one step away from finalizing the PPA,” said Kibo chief executive Louis Coetzee.
Shares climbed 10% to 5.8p.
The group posted an operating loss of £2.7mln in the six months to the end of November 2017, compared to a £0.1mln profit the same period a year earlier.
Exception charges of £2.8mln related to the completion of three legacy contracts inherited from CA Blackwell.
Excluding the exceptional items, Hargreaves reported an underlying operating profit of £2.3mln, up from £2.1mln in 2016.
Revenue fell to £150mln from £170mln, in part due to the inclusion of legacy asset sales in the year-ago period.
Shares decreased 3.8% to 346p.
11.00am: Plus500 shares higher after 2017 earnings jump
Online trading platform provider Plus500 Ltd (LON:PLUS) reported a 72% jump in full year earnings, sending its shares higher.
The company, which suppliers to retail customers trading so-called ‘contracts for difference’, said underlying earnings (EBITDA) rose to US$249.2mln in the year through December 2017, from US$151mln a year earlier.
Revenue increased 33% to US$437.2mln from US$327.9mln, driven by growth in new and active customers.
The group declared a special dividend of US$0.6350 per share and a final dividend of US$0.8129 per share, bringing its total payout to US$199.6mln, up from US$101.7mln the prior year.
For fiscal year 2018, the company expects revenue to be "significantly ahead of market expectations".
Shares rose 5.5% to 1,246p.
IT equipment distributor Northamber PLC (LON:NAR) narrowed its loss for the first half as it focuses on more specialised, technical and higher margin products.
Shares increased 5.6% to 28p.
The loss before tax fell to £201,000 from £539,000 a year ago as turnover rose 9.1% to £31.6mln.
The company said it continued to reduce exposure to the “evaporating net margins on many of the older established technology products, albeit with a reduction in revenues”.
9.40am: Union Jack Oil rallies as it expects 'high impact' projects
The company also expects a new planning application to be made for the stalled Wressle oil field development project. New documents are due to be submitted to the authorities in April.
The group said results from the workover of wells currently underway at the recently acquired Fiskerton Airfield are expected while it plans to start talks with the operator to progress potential development plans at the Dukes Wood and Kirklington oil facilities.
Shares rose 15% to 0.11p each.
Water Intelligence shares gained 11% to 200p after reporting an increase in full year profits and revenues.
The environmental services and technology company, focused on detecting, finding and remediating water leaks, said adjusted pre-tax profit rose 21% to US$1.7mln and revenue grew 45% to US$17.7mln in the year to December 31, 2017.
The group said it was confidence in the year ahead as the expected US economic growth will support its leak detection business in the country while tax cuts will benefit earnings.
The company said the net proceeds will be used for extra working capital and to fund ongoing diamond exploration in South Africa and Botswana.
Shares fell 10% to 1.05p.
The group has started to search for a successor and said it will make an announcement in due course.
Proactive news headlines:
Union Jack Oil PLC (LON:UJO) highlighted “high impact” drilling planned for the Biscathorpe and Holmwood projects as the onshore British oiler updated investors on upcoming work programmes anticipated for 2018. It also expects a new planning application to be made for the stalled Wressle oil field development project. The new documents are due to be submitted to the authorities in April, UJO noted.
Hurricane Energy PLC (LON:HUR) has confirmed that another box has been ticked off its field development checklist, with the successful completion of buoy 'dry' trial fit testing at dry dock in Dubai. The Aoka Mizu FPSO (floating production storage and offloading) vessel is being upgraded at Dubai Drydocks World ahead of its deployment as the key piece of equipment in the planned Lancaster field early production system.
Sirius Minerals PLC (LON:SXX) has awarded the contract for drilling the shafts at its polyhalite project in Yorkshire to Polish firm DMC after ending discussions with Scarborough-based AMC UK. AMC UK had received a ‘notice of award’ in July last year for the contract, with expectations for a finalised agreement to be signed soon after.
Midatech Pharma Plc (LON:MTPH, NASDAQ:MTP) said trading last year was in line with forecasts with the focus in 2018 turning to three key clinical trials. A first in-human study of Q-Octreotide, for the treatment carcinoid cancer and the hormonal disorder acromegaly, is expected to complete late this year or early next.
BB Healthcare Trust PLC (LON:BBH) comfortably outperformed its benchmark during what it described as a volatile year for the sector. Chairman, Professor Justin Stebbing, said he hoped 2018 would be driven more by stock fundamentals than the politics now wrangling in the US over the Affordable Care Act had ceased.
Iofina plc (LON:IOF), specialists in the exploration and production of iodine, has announced the completion of construction and commencement of production at its IO#7 IOsorb® plant. In a statement, the AIM listed firm said that the site has undergone hydrostatic testing and evaluations of its systems and is currently processing iodine rich brine water. Big Pic in September.
Greatland Gold plc (LON:GGP) shares moved on the front foot as the company updated on plans to start a drill programme, at the Havieron licence, in April. The explorer expects to encounter a potentially large mineralised system, based on results detailed aeromagnetic and ground gravity data.
88 Energy Ltd (LON:88E) has kicked off its new 3D seismic exploration programme in Alaska. The programme will cover a 460 square kilometre area, and the aim is to ‘firm up’ potential exploration well sites for the broader Project Icewine venture.
Kibo Mining PLC (LON:KIBO) has signed a Memorandum of Understanding with the Tanzania Electric Supply Company, known as TANESCO, in regard to a Power Purchase Agreement for power that will be produced from Kibo’s 300MW Mbeya coal-to-power project. The MOU constitutes the precursor to the finalisation of the PPA with TANESCO.
NQ Minerals Plc (NEX:NQMI) told investors that it has raised £130,000 in new working capital through an issue of new shares. The company, in a stock market statement, revealed that 1.35mln new shares have been issued – with 1mln shares priced at 10p and 352,941 shares priced at 8.5p. A further 4mln new shares are being issued at the equivalent of 7.875p as part of a deal to extend an existing lending facility.
Plexus Holdings PLC (LON:POS) has sold two POS-GRIP rental wellhead sets to Russian partner Gusar for about £1.4mln. The kits will be rented out for gas exploration within the Russian Federation under the agreement signed in 2016 between Gusar and Konar, two independent Russian oil and gas equipment manufacturers.
Tekcapital PLC (LON:TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from university technology, announced that Belluscura PLC has concluded a private placement to raise approximately US$1.33mln through Dowgate Capital Stockbrokers and converted loans equal to approximately US$268,000 to equity under the same terms as the Private Placement. The private placement was priced at 18 US cents (13p) per share, giving Belluscura a post-money valuation of approximately US$3.7mln. Tekcapital holds around 39% of Belluscura’s issued share capital.
Feedback plc (LON:FDBK) announced today that it has appointed David Crabb as chief executive officer (CEO) of the medical imaging company with immediate effect. The group said Crabb, most recently CEO of software company Cambridge Online Systems, has previously held director-level roles in medium-sized technology and outsourced solutions companies with revenues of between £50mln to over £1bn, with responsibilities including business optimisation, sales and marketing, and workforce leadership.
Chaarat Gold Holdings Ltd (LON:CGH), the gold exploration company operating in the Kyrgyz Republic, has appointed Peter Carter as its new chief operating officer. Carter will lead the Bishkek team and his primary responsibilities will include preparing the company for operational readiness, building the local team, installing international safety standard and establishing suitable environmental management plans.