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Eve Sleep has spring in its step after management clear-out

A look at the day's major movers, including UniVision, Autins, Sigma Capital, PRS REIT, Forbidden Technologies, Staffline and Mothercare
Man in bed
Must have been one hell of a pillow fight in the board room

Abid Ismail, the chief financial officer of Eve Sleep PLC (LON:EVE) is to step down as a director of the company.

Also checking out are Felix Lobkowicz, the chief operating officer, and Kuba Wieczorek, the chief brand officer.

The departure of the chief bean counter normally results in a share price fall for the company concerned but shares in Eve rose to 6.1% to 8.75p as the company reported a 25% increase in revenue to £34.8mln in 2018 from £27.7mln in 2017.

The loss before tax widened slightly to £20.3mln from £19.0mln.

12.45pm: UniVision rises after securing loan from ... er ... UniVision

UniVision Engineering Limited (LON:UVEL), the Hong Kong-based closed-circuit television and surveillance systems specialist, has entered into a HKD3mln loan agreement.

The agreement is with UniVision Holdings Limited, which, as the name suggests, is a major shareholder in UniVision; UniVision Holdings is wholly owned by Stephen Koo, the executive chairman of UniVision, and has a 47.9% stake in the AIM-listed firm.

The cash injection will enable the group to tender once more for new government contracts in Hong Kong.

"I am delighted that this loan to the company has enabled it to resume tendering for new work from the Hong Kong Government Works Branch as it has been able to do in the past," Koo said.

Shares in UniVision were up 9.8% at 2.25p.

11.45am: Top brass at Autins buy shares

Shares in Autins Group PLC (LON:AUTG), a provider of acoustic and thermal insulation solutions for the car industry, rose after the top brass bought shares.

Non-executive chairman Adam Attwood purchased 69,572 shares at 27p a pop and chief executive Gareth Kaminski-Cook bought 30,228 shares at 33p a throw, representing 0.45% of the company's issued ordinary share capital in aggregate.

Shares in Autins were up 15.3% at 34p in the morning session.

11.00am: Sigma Capital dragged down by interims from its client, PRS REIT

Shares in real estate investment trust (REIT), The PRS REIT PLC (LON:PRSR) shifted lower after its interims, dragging Sigma Capital Group PLC (LON:SGM) with it.

Sigma's wholly owned subsidiary, Sigma PRS Management Limited, is the investment advisor to the PRS REIT, sourcing investments, managing its assets and advising the PRS REIT on a day-to-day basis.

Bizarrely, Sigma's share price was more adversely affected by PRS's results than PRS was; Sigma was off 5.8% and PRS was down 1%.

10.15am: Forbidden Technologies' losses widen despite a rise in revenues

Serial loss-maker Forbidden Technologies PLC (LON:FBT) fell 6.5% to 7.25p after it revealed a wider underlying loss for 2018.

The loss before interest, tax, depreciation and amortisation deepened in 2018 to £1.99mln from £1.84mln the year before despite a 15% increase in revenue to £870,310 from £758,835 the previous year.

The video editing technology tiddler said the bog standard loss before tax was £2.6mln, versus a loss the year before of £2.4mln, with much of the discrepancy between that and the underlying loss being down to amortisation of £544,889 (2017: £512,549).

9.30am: Staffline back from suspension with a bang

Trading in the shares of Staffline Group PLC (LON:STAF) resumed after the recruitment firm gave an update following an investigation into various allegations.

Allegations were raised by a third party to the group's auditors in respect of invoicing and payroll practices within the group's recruitment division and Staffline decided it could not publish accurate results until those allegations had been investigated.

The independent legal investigation has delivered its key findings and in general, the board remains confident its policies have been compliant with legal requirements but there was one allegation concerning the group's historical compliance with national minimum wage regulations that are being talked over with the taxman in order to quantify underpayments made to workers over a number of years.

READ G4S profits plunge as it forks out £100mln to settle California lawsuit

Shares in Staffline returned from suspension 210p higher at 883p.

Struggling retailer (forgive the tautology) Mothercare PLC (LON:MTC) perked up after it announced the sale of its Early Learning Centres for a total expected cash consideration and earn-out fees of up to £13.5mln.

The shares rose 6% to 17.8p as the company said it is on track to deliver cost savings of at least £19mln a year as it homes in on its target of being debt free by the end of the year.

Proactive news headlines:

Greatland Gold PLC (LON:GGP) has signed a farm-in agreement with Newcrest Mining LTD (ASX:NCM) for the further advancement of the Havieron project in the Paterson region of Western Australia.

Concepta PLC (LON:CPT) has inked an agreement to supply its myLotus fertility testing kit to high street chemist Boots.

Ariana Resources PLC (LON:AAU) is guiding for gold production from the Kiziltepe mine in Turkey to come in at 25,000 ounces this year.

Pawnbroking group H&T GROUP PLC (LON:HAT) put in a strong fourth quarter performance in 2018, ensuring that full-year results will be in line with expectations.

Sirius Minerals PLC (LON:SXX)has put its long-running debt financing talks on hold as it has received a new alternative funding proposal. In a statement, the UK mine developer said the new proposal contains an alternative senior debt structure which would replace the structure envisaged in the prior negotiations, that began back in 2016.

Bacanora Lithium PLC (LON:BCN) has said it does not know why its shares have moved recently.

Metal Tiger PLC (LON:MTR) shares jumped in early trading Tuesday after it hailed “significant” drilling results from a programme carried out at the T3 copper project in Botswana by investee company MOD Resources, in which it holds a 10.48% stake.

Rockfire Resources PLC (LON:ROCK) has completed initial soil sampling, rock sampling and geological mapping at the Copper Dome porphyry copper project in Central Queensland.

Primary Health Properties PLC (LON:PHP) has contracted to acquire a standing let primary care centre in the Republic of Ireland.

Haydale Graphene Industries PLC (LON:HAYD) has picked up an additional £1.8mln from an open offer to add to the £4mln it raised from a placing and subscription. The composite material and graphene specialist said the take-up of the open offer was 44.6%, including an over-allotment option.

Bluebird Merchant Ventures PLC (LON:BMV) expects to hear in around two weeks whether its application to re-open the Gubong mine in Korea has been approved. The miner expects to be asked for clarification on some issues but is confident it can answer these.

Pre-tax profits for Mineral and Financial Investments Ltd. (LON:MAFL) rang in at £722,000 for the six months to 31 December 2018. That equates to 2p per share.

ClearStar Inc. (LON:CLSU), the technology and service provider to the background check industry, announced that Ken Dawson, its chief information officer has sold an aggregate of 198,000 ordinary shares in the company in two transactions - 10,000 shares sold on 7 March 2019 at a price of 61p each; and 188,000 shares sold on 11 March 2019 at a price of 55p each. The group said, following these transactions, Dawson holds 4,090,000 ordinary shares in the company, representing 11.3% of the issued share capital.

IronRidge Resources Limited (LON:IRR), the African-focused minerals exploration company, said it will be holding a shareholder update meeting and presentation followed by a Q&A session on 2 April 2019, at 6:00 pm (UK local time), at 1 America Square, 17 Crosswall Street, London EC3N 2LB.


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