The AIM-quoted firm is looking to raise £7mln through a share placing at 70p each – a hefty discount to Friday’s closing price of 86p.
Xpediator said the new addition would add 40,000 square kilometres of warehousing space, as well as various operational synergies and cross-sell opportunities. It expects the acquisition to be earnings enhancing in the first full year of ownership.
Last year, ISL, which is based in the Port of Southampton, generated revenues of £21.7mln and turned a pre-tax profit of £1.8mln.
Shares fell 6.9% to 80.1p, closer to the sale price.
Bellzone Mining leaps into life as Guinean government ratifies Kalia mining convention
The convention sets out the steps Bellzone will take to develop the ferronickel mine and was originally agreed between the two parties towards the end of 2017.
With the convention now formally ratified, the company said it plans to report definitive feasibility study results by the end of 2018.
Should the data come back positive, the plan is to develop the mine and production facility within six months of the feasibility study by the Ministry of Mines and Geology and achieve commercial production within a further six months.
It has been a difficult ride for the company, which has seen more than 99% of its value wiped away since the nickel price boom of the mid-noughties.
Shares jumped 52.3% to 0.84p early on Monday afternoon, although they had nudged past a penny just before midday.
BHP Billiton jumps on reports BP interested in US onshore shale assets
BP is the front-runner in the auction for the assets after submitting an offer worth over US$10bn, Reuters reported, citing sources.
The companies could reach a deal in coming weeks, though it is possible negotiations could end unsuccessfully, the sources said.
For BP, a deal would allow the group to take advantage of the recent recovery in energy prices and to expand its US onshore business, which began operating in 2015.
Shares are up 1.1% to 1,683p, making it one of the top risers on the FTSE 100.
UKOG planning a more hands-on role as it changes trading status
The company had been down as an ‘investing company’ but it is now referred to as an ‘operating company’.
Although largely symbolic, investors will be hoping the change is reflective of the progress being made at Horse Hill, where a new round of testing is underway to see just how much oil is underfoot.
There are a few benefits though: UKOG said it will be able to conduct its business with fewer restrictions. Shares flowed 16% higher to 2.2p.
Legendary Investments swings to profit
In a trading update ahead of its full-year results, Legendary said the value of its investments jumped almost 50% to £6.2mln (2017: £4.3mln) while it recorded a profit of £0.7mln (2017: loss of £0.3mln).
Boss Zafar Karim said he was “delighted” at the progress. Shares rose 18% to 0.1p.
N4 Pharma’s ED drug disappoints
The company, which takes old drugs and tries to improve them, said it hasn’t received all of the results just yet, but “it is clear” from the initial data that the erectile dysfunction treatment had missed its primary endpoints. Shares fell 53% to 10.9p.
Proactive news headlines
Echo Energy PLC (LON:ECHO) this morning told investors that the fourth and final well in the current Argentina drilling campaign has encountered a ‘notable gas column’. The well, referred to as CSo-2001(d), is located within the Fracción D project area. It was drilled down to a depth of 1,511 metres and it encountered the targeted Upper Jurassic Tobifera formation, with observations of extensive gas and light hydrocarbon shows.
Metal Tiger PLC (LON:MTR) has logged significant visible copper sulphides in core from the latest diamond drill hole testing the A4 Dome on the company’s Botswana joint venture with MOD Resources (ASX:MOD). The mineralisation was intersected in veins over a 67 metre downhole interval from 232 metres to 299 metres downhole depth.
Sirius Minerals PLC (LON:SXX) has unveiled a deal that will allow it to access port and ship loading services at the existing Redcar Bulk Terminal. It means the company’s Yorkshire fertiliser mine development project will now see reduced construction risk and lower capital requirements, and, significantly, it is expected to be beneficial for the project’s Stage 2 financing.
Kibo Mining PLC (LON:KIBO) and Sanderson Capital Partners Limited have settled the outstanding balance of £1.1mln on the forward payment facility provided by Sanderson on 20 December 2016. Accordingly, Sanderson will be issued 21,239,375 new ordinary Kibo shares at a price of 5.25p each, a 13% premium to the closing price of 4.65p on Friday 6 July 2018.
The English Patient by Michael Ondaatje, and published by the Bloomsbury Publishing PLC (LON:BMY) has won the prestigious Golden Man Booker Prize. The Golden Man Booker Prize is a special one-off award to commemorate the Man Booker Prize's 50th anniversary and was awarded to the book deemed to be the best work of fiction from the last five decades of the prize.
Southend Airport owner Stobart PLC (LON:STOB) is looking at ways to diversify its shareholder base after seeing off a boardroom rebellion. Chairman Iain Ferguson who narrowly his kept his job at Friday’s AGM, said talks have already started with potential investors.
Amryt Pharma PLC’s (LON:AMYT) Lojuxta Homozygous Familial Hypercholesterolaemia (HoFH) treatment is to be made available to NHS patients in England. HoFH is a rare life-threatening disorder that causes abnormally high levels of low density lipoprotein (LDL) cholesterol.
Dr Jeremy Lea is the new chief operating officer (COO) of WideCells Group PLC (LON:WDC), replacing Lopes Gill, who is stepping down for personal reasons. Dr Lea will be responsible for leading the group's next phase of growth as it builds revenues and drives the global uptake of its innovative portfolio of stem cell services, including: CellPlan, the world's first stem cell healthcare insurance plan; WideCells, which is focused on stem cell storage services, and Wideacademy, the group's education and training division.
Greka Drilling Ltd.(LON:GKD) shares resumed trading on London’s AIM market this morning following the publication of its 2017 financial results after the market’s close on Friday. The results themselves revealed annual revenue of US$11.6mln, up from US$7.2mln in the preceding year. Losses before tax narrowed significantly to US$1.4mln, from US$9.6mln in 2016.
Berkeley Energia Ltd (LON:BKY) has announced that the capital cost review initiated by the company has identified a number of opportunities to reduce the initial capital expenditure at the Salamanca mine, required to bring it into production. The company said potential savings of up to €9mln arise from optimisation of plant capacities, outsourcing of peripheral infrastructure and reducing initial throughput for production from the Retortillo deposit.
Tharisa PLC (LON:THS) produced a record 39,500 ounces of platinum group metals during the three months to June 2018, up 3.4% on the previous quarter. Production of chrome concentrate also hit a record, at 376,300 tonnes, up 2.6% on the quarter.
Erris Resources PLC (LON:ERIS), the European-focused mineral exploration company with a portfolio of zinc and base metals projects in Ireland and gold projects in Sweden, announced that its CEO, Merlin Marr-Johnson, will be presenting at an evening investor event hosted by Turner Pope Investments Ltd. The event will be held on Monday 16 July in Central London and will start at 5.30pm.
Arc Minerals Limited (LON:ARCM) announced that its executive chairman Nick von Schirnding will be presenting at the Mining Report Zambian Mining Investment Conference on 10 July 2018 at the Le Meridien Hotel, Piccadilly, London.