The water treatment firm said it had raised £341,000 from the open offer, less than half of the £900,000 target as investors took up just 38% of the offered shares.
Elsewhere, shares in carpets and flooring retailer Victoria PLC (LON:VCP) plunged 23.4% to 462.5p after it said it expects its margins to come in below market expectations following a drive to cut prices to win market share, hammering its shares.
The AIM-listed company said its overall margin would be down by between 1%-1.5% percentage points compared to consensus market forecasts.
In the risers, Lok'nStore Group PLC (LON:LOK) shares jumped 8.2% to 405p after annual profits rose by more than a third on the back of increased occupancy rates at its stores, giving its shares a boost.
The self-storage group on Monday reported a 34% rise in pretax profit to £5.3mln in the year to the end of July on revenues 6.6% higher at £17.8mln.
1.00pm: EQTEC surges as directors purchase new shares
The company issued around 2mln new shares to four of its directors, including chief executive Ian Price and finance director Gerry Madden.
In the blue-chips, Shire PLC (LON:SHP) was up 3% at 4,536p after Takeda Pharmaceuticals Co Ltd proposed selling one of its drugs in development to ease competition concerns and gain regulatory approval in Europe for the merger of the two companies.
Takeda said it had proposed to European Union regulators divesting Shire's pipeline compound SHP647 along with some associated rights due to worries about an overlap in inflammatory bowel disease treatments and its own drug Entyvio.
In the fallers, budget airline Ryanair (LON:RYA) slipped 1.2% to 12.1p after investors called for its chairman to step down and for the company to start planning for a successor to its long-serving chief executive as pressure grows for it to freshen up its leadership.
The Local Authority Pension Fund Forum (LAPFF) wants Ryanair to start planning for a successor to Michael O’Leary, who has been chief executive since 1994, and for its chairman of more than 20 years, David Bonderman, to be replaced after the Irish airline's recent operational and reputation struggles, according to UK media reports.
11.00am: N4 Pharma jumps following positive results for Nuvec delivery system
The vaccine and cancer-focused pharma company said the results of the study had demonstrated that Nuvec had a clear adjuvant effect to help deliver a level of immune response for both the mRNA and pDNA antigens compared to other delivery systems.
Nuvec delivers DNA directly into cells in a bid to encourage the production of anti-cancer antigens.
Elsewhere, ANGLE PLC (LON:AGL, OTCQX:ANPCY) shares rose 8.8% to 43p as its device for detecting the early signs of cancer had shown promise harvesting fetal cells.
Parsortix appeared to score well against existing methods of non-invasive prenatal testing (NIPT).
Specifically, it was able to harvest intact cells, which could then be assessed for abnormalities such Down’s Syndrome.
Meanwhile, energy storage and clean fuel company ITM Power PLC (LON:ITM) surged 7.9% to 24p, after saying it expects another year of “significant financial progress” as the move towards alternative fuels for vehicles gathers pace.
The AIM-quoted firm’s pipeline has grown by almost £4mln to £34.3mln since August’s full-year results, with £27.6mln of that under contract.
9.00am: URU Metals Limited rises as prospecting rights renewed at Zebediela project
Shares in miner URU Metals Limited (LON:URU) jumped 8.3% to 0.3p in early morning trading after the firm said its prospecting rights at the Zebediela Nickel project in South Africa had been renewed for a further two years.
The company said the renewal period would commence upon signature of the renewed licenses, which was expected to occur in November.
The healthcare firm said the products, which allow women to self-test their fertility levels, would be launched through its new eCommerce platform to service initial demand.
The UK market, which comprised 44% of the group’s first-half sales, had seen “further softening” recently with retailers cutting back on stock levels and Christmas orders, meaning sales were lower than previously anticipated.
Warpaint added that a 60% jump in US sales as of 30 September and a 14% year-on-year increase in non-UK EU sales would not be enough to offset the decline in its core market.
In other dismal earnings news, Gama Aviation PLC (LON:GMAA) dropped 22.7% to 117.5p after it warned its annual profits would come in around US$3mln below its expectations after it was hit by subdued recent trading across its divisions.
The aircraft maintenance and management group said that the “substantial growth” it had predicted at its interim results had not materialised and that trading in certain divisions has not improved sufficiently to deliver the full year expectations.
Proactive news headlines:
Concepta’s PLC (LON:CPT) myLotus product range has received CE-Mark certification, enabling its sale in the UK market. The healthcare firm said the products, which allow women to self-test their fertility levels, would be launched through its new eCommerce platform to service initial demand.
ANGLE PLC (LON:AGL, OTCQX:ANPCY) said its device for detecting the early signs of cancer had shown promise harvesting fetal cells. Parsortix appeared to score well against existing methods of non-invasive prenatal testing (NIPT).
Energy storage and clean fuel company ITM Power (LON:ITM) expects another year of “significant financial progress” as the move towards alternative fuels for vehicles gathers pace. The AIM-quoted firm’s pipeline has grown by almost £4mln to £34.3mln since August’s full-year results, with £27.6mln of that under contract.
I3 Energy PLC (LON:I3E) is to submit an enlarged field development plan (FDP) to the UK Oil & Gas Authority for two North Sea blocks. Based on the company’s mapping and analysis, the previous mid-case stock tank oil-initially-in-place (STOIIP) estimate of 237mln barrels pertaining to the company’s wholly-owned UK North Sea blocks 13/23d and 13/23c has been revised to 314mln barrels.
Horizonte Minerals PLC (LON:HZM) has revealed the results of a feasibility study at the Araguaia nickel project in Brazil's Pará State. The study shows that over a 28-year mine life, Araguaia will generate US$1.6bn in cash flows, with the potential to go even beyond that.
The new chief financial officer of Tissue Regenix Group PLC (LON:TRX) has joined regenerative medical devices company a month earlier than expected. Gareth Jones’ appointment was first unveiled back in July and he was originally scheduled to take up his new role at the end of November.
Redx Pharma PLC (LON:REDX) has confirmed its chief executive, Lisa Anson, has been elected to senior industry role. From the start of 2019, she will serve as a director of the UK BioIndustry Association for a three-year term.
Berkeley Energia Ltd. (LON:BKY) has been advised by the Nuclear Safety Council in Spain that it was not the source of the widely circulated media reports that the government was intending to deny the permits for the Salamanca mine.
88 Energy Limited (LON:88E) raised AS$3.64mln via its recent rights issue. In all, the company received acceptances in respect of 202.3mln shares via the core element of the rights issue, while a further 593.59mln shares were snapped up by shareholders who took advantage of the “shortfall shares” offer, which enabled them, essentially, to acquire more shares over and above the basic right issue offer. The company also issued a report today that summarised activities in the third quarter of 2019. Highlights included the large upgrade to the portfolio at Project Icewine, the execution of definitive agreements for farm-in to the Western Blocks and solid progress in the process of 3D seismic data on the Yukon acreage.
Solo Oil PLC (LON:SOLO), the natural resources investment company focused on acquiring and developing a diverse global non-operated portfolio of strategic oil and gas assets, has announced the appointment of Strand Hanson Limited as its nominated & financial adviser with immediate effect.
Ariana Resources PLC (LON:ARS), the exploration and development company operating in Turkey, has released a corporate video following a site visit for analysts, investors and journalists to the company's Kiziltepe Mine in western Turkey, announced on 3 October 2018. The corporate video is now available on the company's website.
IronRidge Resources Limited (LON:IRR) has said it is attending The inaugural African Focus Day at IMARC 2018 today, supported by the Australian African Chamber of Commerce, from 9am to 5:30pm (AEDT time) at Room 219, Level 2, Melbourne Convention Centre, Melbourne Australia.
The group said the presentation can be viewed on the Investor Relations section of the company's website or via the following clicking link:http://www.rns-pdf.londonstockexchange.com/rns/5000F_1-2018-10-29.pdf
Touchstone Exploration Inc. (LON:TXP) (TSX:TXP), the oil and gas exploration and production company active in the Republic of Trinidad and Tobago, will be holding a live online investor presentation and Q&A session for investors on Wednesday 31 October at 7pm. To join the session, the company said investors should use the following link: https://vtm.clickmeeting.com/touchstone-exploration