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Proactive news snapshot: OptiBiotix Health, Kromek Group, Union Jack Oil …

Published: 15:30 01 May 2018 BST

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OptiBiotix Health plc (LON:OPTI) saw its shares jump on Tuesday after the life science firm noted media interest generated by a potential commercial partner, Seed Health. In a statement, the AIM-listed firm - which is developing compounds to tackle obesity, high cholesterol, diabetes and skin care - pointed out that Seed purchased its LP-LD product for use in a multi-strain product intended for launch in the US in May 2018.

Kromek Group PLC (LON:KMK) said it expects to report revenue growth in its full-year results as new and previous contracts boosted earnings. In a trading update ahead of its results, the AIM-listed provider of radiation detection equipment said it expected its underlying earnings (EBITDA) to break even, in line with market expectations, as it saw a growth in sales through executing both previously-signed agreements as well as new high-value contract wins during the year.

Union Jack Oil PLC (LON:UJO) financial results for 2017 reflect a year of “considerable progress”, that’s according to executive chairman David Bramhill. The onshore UK oiler has continued to grow its portfolio, both during and after the reporting period, and, Bramhill described himself as “enthusiastic” about the future.

Galileo Resources PLC (LON:GLR) said negotiations with a major fertiliser and phosphate producer (MPP) “are continuing positively” as it seeks to secure a 15 year supply agreement for phosphate from its Glenover project.

WideCells Group PLC (LON:WDC) said publication of its annual financial statements for the year ended 31 December 2017 has been delayed pending completion of the audit process and will be later than the required publication date of Monday 30 April 2018. In a statement, the healthcare services company focused on providing stem cell services noted that it has been in discussion with its financial advisers with a view to a fundraising, in the absence of which the group is at risk of not being able to continue trading as a going concern.

SkinBioTherapeutics PLC said it has finalised plans for human study of cosmetic application of its SkinBiotix treatment while announcing progress with the manufacturing scale-up of the product. The former first: the assessment of 120 female volunteers with dry skin will take place in the third quarter with testing being carried out by clinical research firm Alba Science. This study is double the original size.

E-therapeutics PLC (LON:ETX) and C4X Discovery Holdings plc (LON:C4X) are to pool their knowledge to try to find a treatment for Parkinson’s Disease.

InnovaDerma (LON:IDP), the UK developer of life sciences, beauty and personal care products, said it has now launched Prolong - the world's only FDA-cleared medical device for premature ejaculation in the United States and Australia. The Skinny Tan group said the launch is being supported by a highly creative marketing campaign, including a website smilingdick.com.

ATTRAQT Group plc (LON:ATQT) has announced the appointment of Luke McKeever as its chief executive officer, with interim executive chairman Nick Habgood to revert back to his former non-executive role. The AIM-listed online merchandising, onsite search and eCommerce personalisation provider said McKeever will join the Group on 21 May 2018 and will take over the reins from Hapgood following a short handover period.

Symphony Environmental Technologies plc (LON:SYM) said it has signed a collaboration and strategic investment agreement with French company Eranova SAS. The AIM-listed biodegradable plastics maker said Eranova has developed a technology which extracts starch from algae for use with other materials. The starch can be combined with other polymers to produce compostable and biodegradable resin.

Fertility aid manufacturer Concepta PLC (LON:CPT) believes it has sorted the supply side problems in China that hit its numbers in 2017.

Harry Potter publisher Bloomsbury Publishing PLC (LON:BMY) has strengthened its presence in the academic book market with the acquisition of IBT Tauris.

Motif Bio Plc (LON:MTFB, NASDAQ:MTFB) said the results of its REVIVE-2 phase III clinical trial of its lead drug iclaprim have been published in the peer-reviewed journal Antimicrobial Agents and Chemotherapy. The next-generation antibiotic was used to treat acute bacterial skin and skin structure infections (ABSSSI) and was found to be as effective (the term is non-inferior) to the current standard of care, a drug called vancomycin.

Flying Brands Ltd (LON:FBDU) is on track for US regulatory clearance for its StoneChecker software by the end of this quarter. Recent acquisition Imaging Biometrics has been managing the process for both FDA and European CE clearance, which came through in December.

HemoGenyx Pharmaceuticals PLC (LON:HEMO) chief executive Dr Vladislav Sandler described 2017 as a “significant year” after the company listed on the market and inked a collaboration with Oxford University. But perhaps the most exciting development occurred after the period-end as the company was able to show that its CDX antibodies can attack and eliminate acute myelogenous leukaemia.

Nasstar Plc (LON:NASA) saw narrowed losses and improved margins in its full-year results as its “Nasstar 10-19” strategy began to bear fruit. The AIM-listed IT services provider reported a reduced loss before tax of £1.2mln from £1.8mln the year before on revenues of £24.5mln, up from £18.7mln previously.

Chaarat Gold Holdings Ltd (LON:CGH) has outlined in more detail the terms of its potential acquisition of the Kumtor mine in Kyrgyzstan. Chaarat will offer US$400mln in cash, to be funded by debt and equity as well as organising for the return of US$400mln in shares to the current owner of Kumtor, Centerra Gold (TSE:CG). That US$800mln valuation represents a 30% premium on the value placed by Centerra on Kumtor, according to Chaarat's reading of Centerra's financial statements. Separately, Chaarat has also started drilling at its Tulkubash project, and has already intersected mineralisation.

The recent A$5.7mln fundraising undertaken by Metminco Ltd (LON:MNC) will go in pary towards exploration on the Tesorito prospect on the Quicnhia project in Colombia. The company has also initiated discussions with Anglogold Ashanti in relation to a farm-in or joint venture deal at Chuscal, also part of the Quincha project.  Meanwhile, Metminco has also made advances in the permitting process for the Miraflores gold project. A plan of work was submitted in January.

Rambler Metals and Mining PLC (CVE:RAB) (LON:RMM) generated revenues of US$28.3mln in the year to December 2017, up from the US$28mln booked in the corresponding period a year ago. Fourth quarter sales rose to US$8.4mln, up from US$7.3mln in the third quarter and US$5.4mln in the corresponding quarter in 2016. Big Pic in April.

W Resources PLC (LON:WRES) told investors that it has kicked off a new drill programme at the São Martinho gold project in Portugal. The company will now carry out five weeks of reverse circulation drilling, comprising fifteen holes or 2,000 metres.

Vast Resources PLC (LON:VAST) has signed a Memorandum of Understanding with Botswana Diamonds PLC (LON:BOD) to investigated diamond opportunities together in Zimbabwe. Under the terms of the MoU the two companies have agreed to exchange information derived from past exploration on areas prospective for diamonds in Zimbabwe and to form a special purpose jointly owned company.

Premier African Minerals Ltd (LON:PREM) has accepted the general offer made by Arc Minerals Ltd (LON:ARCM) to all shareholders of CASA Mining Limited. Premier has thereby converted its entire interest in Casa into new Arc Minerals shares.  Premier will end up with a 1.9% stake in Arc.

Cabot Energy PLC (LON:CAB) has told investors that non-executive chairman John Murphy intends to step down, once a successor has been found. Murphy has held the position since September 2013.

Primary Health Properties PLC (LON:PHP), one of the UK's leading investors in modern primary healthcare facilities, has announced the appointment of Peter Cole as an independent non-executive director of the company. Cole is the chief investment officer of Hammerson PLC (LON:HMSO), the FTSE listed owner, manager and developer of retail destinations in the UK, Ireland and continental Europe.

Kibo Mining PLC (LON:KBO) has issued 8,370,716 new ordinary shares at a price of 5p each to Sanderson Capital Partners Limited as a partial settlement on the balance of funds drawn down under the forward payment facility between the two firms announced on 21 December 2016, reflecting a repayment amount of US $568,712. The multi-asset Africa-focused energy and resource company also announced that Mashale Phumaphi, who was appointed a non-executive director of the company on the 3rd April 2018 under the terms of Kibo's acquisition of an 85% interest in the Mabesekwa Coal Independent Power Project, has decided to step down from the Kibo board due to an expanding workload as CEO of Shumba Energy Ltd. The group said Shumba has informed the company that it will promptly nominate a substitute board representative.

Arrinera Automotive Holding Ltd has become the second ICO placing to be carried out through i-dealcorp’s i-DX platform. Businesses undertaking ICOs or token sales are now flocking to i-Dx, said Luca Tenuta, i-Deal Corp’s chief executive, in addition to companies trying to raise money.

Curzon Energy Plc (LON:CZN) has seen its pre-tax losses narrow in its first set of full-year results since IPO as it focused attention toward its Coos Bay acquisition in the new financial year. The oil and gas producer reported a pre-tax loss of US$1.8mln, down from US$3.5mln the year before, in line with expectations and including acquisition and transaction costs for the Coos Bay project.

88 Energy Limited (LON:88E) (ASX:88E)  said it has conditionally placed 460,811,112 ordinary shares at a price of A$0.037 each (equivalent to £0.02) to raise gross proceeds of A$17mln, with the placing “significantly oversubscribed”. The placing, announced on Monday, was conducted in the UK through a bookbuilding process, managed by Cenkos Securities PLC in the UK and Hartleys Limited in Australia.

Maistro PLC (LON:MAIS) said it has been notified that, on 30 April 2018, its chairman, David Rowe, Chairman, purchased 250,000 ordinary shares in the company at a price of 3.85p each. Following this transaction, the group added, Rowe's total shareholding in the company is 12,080,429 ordinary shares, representing 6.82% of the total voting share capital.

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