The move comes after Johnston exhausted all options to restructure or refinance its hefty debts. The main market traded company, which has a market cap of less than £5mln, had been exploring ways to refinance its £220mln bond debts when they mature next June.
Also falling was Chariot Oil & Gas Ltd. (LON:CHAR), plunging 58% to 3.35p as the AIM-listed O&G explorer released disappointing results from a well in offshore Namibia.
Chariot said its Prospect P exploration well didn’t encounter hydrocarbon accumulation. The well encountered its targeted stacked reservoirs within pre-drill prognosis, but they were found to be water-bearing.
Gulf Marble is Fox’s partner at the Prilep Alpha Quarry in Macedonia. AIM-listed Fox will pay €1.8mln through issuing an unsecured convertible loan note. The note is repayable on October 1, 2020, and has an interest rate of Libor plus 1.5% a year.
The FTSE 250-listed company said in the 13 weeks to September 28 that like-for-like shop revenues rose 1.3% year-on-year, and total group revenue edged up 0.1% to £248.2mln from the year before.
The FTSE All-Share component said product revenue, excluding the stores that have closed, fell 3.1% to £304.5mln, with offline revenue down 22.4% and online revenue up 3.8%.
At the same time, FFI Holdings PLC (LON:FFI) slumped 15% to 48.37p following the resignation of the film services company’s chief financial officer.
The AIM-listed company, which provides financing services to film and television producers, said Timothy Trankina stepped down with immediate effect, and that it has promoted its financial controller to the CFO role.
The FTSE 250 component said it foresees its APAC division posting a pre-tax loss of between £12mln to £15mln in the full year to 31 December 2018, compared with its previous forecast for a “small profit.” The warning comes in the face of deteriorating ASEAN market conditions, notably in Malaysia, and changes in two business units. Keller said it will conduct a strategic review of the affected business units.
The FTSE 250-listed company said first-quarter net fee income, a measure of recruiters’ gross profit, rose 9% on a like-for-like (LFL) basis, which was 2 percentage points below analysts' expectations.
The AIM-quoted company said its association with the payment gateway will enable it to generate revenue from customers on networks with no billing connection and users with low or zero balance prepaid wallets. India could become a US$1trn market for transactions by 2025, based on the country’s current growth trajectory, said Mobile Streams.
Proactive news headlines
Film services group FFI Holdings PLC (LON:FFI) has promoted its financial controller, Billy Cheung, to the position of chief financial officer following the resignation of Timothy Trankina.
Customised electronics maker discoverIE Group PLC (LON:DSCV) remains on track to meet market expectations this year after enjoying a “strong” second quarter.
Avacta Group PLC’s (LON:AVCT) chief technology officer, Dr Matt Johnson, will present new data for the firm’s Affirmer range of research tools and diagnostics reagents at the Biomarkers and Precision Medicine Congress (BPMC) in San Diego on 12 October.
Base Resources Limited (LON:BSE) said Pacific Road Capital has notified the company that its voting power in ordinary shares has decreased from 22.1% to 20.8%. This is due to dilution following completion of the retail component of the company’s capital raise in January 2018 and the issue of shares upon vesting of performance rights pursuant to the Base Resources Long Term Incentive Plan announced on October 4.
Azerbaijan-based gold, silver and copper miner Anglo Asian Mining PLC (LON:AAZ) expects production to be at the upper end of guidance following another strong quarter.
Africa-focused mining contractor Capital Drilling Limited (LON:CAPD) saw another uptick in activity in its latest quarter as exploration picked up.
Touchstone Exploration Inc (LON:TXP, CVE:TXP) has achieved a key production milestone, with its Trinidad assets breaching a targeted rate of 2,000 barrels per day.
Chariot Oil & Gas Ltd (LON:CHAR) revealed that the Prospect S exploration well, offshore Namibia, did not encounter a hydrocarbon accumulation.
Diversified Gas & Oil PLC (LON:DGOC) has announced its latest US acquisition, with a $183mln deal for Core Appalachia Holding Co LLC.
Learning Technologies Group PLC (LON:LTG) on Thursday said Harry Hill, its non-executive deputy chairman, will leave the board of the e-learning group.
The majority of shareholders in Chagala Group Limited (LON:CGLO) have backed a takeover offer from Kazakhstan-based firm Realty Invest Holding LLP (RIH), and the offer period for acceptance has been closed.