3.15pm: ANGLE sharply higher after breast cancer trial success
The company said a clinical trial of 400 women with breast cancer met its primary objectives.
The assessment itself revealed its Parsortix technology, which harvests circulating tumour cells that provide the tell-tale signs of cancer. was able to harvest cancer cells from the blood of a significant proportion of metastatic breast cancer patients.
2.30pm: Shareholder revolt in the offing at Karelian
The diamond exploration company said it had consulted with its legal advisors who said the requisition document did not constitute a valid requisition for an extraordinary general meeting but the company acknowledged that the parties behind the move would probably get the paperwork right next time.
If so, shareholders will be asked to vote on the proposed removal of Professor Richard Conroy (chairman), Maureen Jones (managing director) plus three non-executive directors: Seamus FitzPatrick, Dr Sorċa Conroy and Louis Maguire.
It is likely that shareholders will also be asked to vote on the proposed appointment of Alan Osborne, Stephen Grimmer, Martin Doyle and Kevin Taylor as directors.
1.30pm: UniVision surges after upbeat trading and operational update
As a result of the significant increase in work from the MTR Corporation contract, the group had been - until now - temporarily suspended from tendering for additional new government contracts by the Hong Kong Government Works Branch under the management of Electrical and Mechanical Services Department.
The company also reported that momentum seen in the first half of its financial year – i.e. the second half of 2018 – had continued into 2019 and that full-year revenues and profits are expected to be substantially ahead of last year, thanks to a full year’s contribution from the MTR Corporation contract.
12.30pm: Cambria Africa warns of foreign currency hit
The company said that despite achieving record profits of US$1.7mln in the first half of its current fiscal year, it expects earnings in the second half of the year will be affected by a rapid devaluation in the Zimbabwean currency.
The company saw profit before tax rise 30% from the year before to US$1.9mln on virtually unchanged revenue.
11.30am: Bagir sandbagged by delay to cash injection
Bagir Group Ltd (LON: BAGR) shares slumped around 30% as it revealed problems with a strategic investment deal from Chinese firm Shandong Ruyi.
The London-listed tailoring company said it has not yet received US$13.2mln of the previously agreed US$16.5mln and it has agreed an extension to the deadline for the investment.
Shandong Ruyi has requested a new completion date of 18 June, and, in the meantime it asked for talks to discuss some changes to the agreed terms.
10.30am: Nautilus Marine plunges as it proposes to delist from AIM
The loss-making company, which serves the offshore energy extraction industry, has been looking to refocus over the last year or so and offload its marine vessels if it can get an attractive price.
Shareholders will get the chance to vote on the proposed delisting on 24 June but shareholders representing roughly 73.4% of the issued ordinary share capital have already voted in favour of the proposal.
9.30am: Bid fever hits Stride Gaming and Patagonia Gold
After intially confirming only that discussions were taking place, the company swiftly then said in a second statement that it has agreed to the all-cash recommended offer which values each of Stride's ordinary shares at a price of 151p. In response, Stride shares shot 27p higher to 144.50p.
The takeover will be effected by means of a scheme of arrangement, with Hunt offering roughly 10.76 of its shares in exchange for each Patagonia share.
The terms attribute an implied value for the entire issued share capital of Patagonia Gold of around £17.18mln. The current market capitalisation of Patagonia is £14.3mln.
Proactive News Headlines:
NetScientific PLC’s (LON:NSCI) portfolio firm, ProAxsis, has received positive early data from a clinical trial of its NEATstik lung disease test.
Metal Tiger Plc (LON:MTR) shares rose on Friday as its chief executive Michael McNeilly reported on what he described as a “transformational year” for the company. During 2018, the AIM-listed company continued to reshape its portfolio - selling its 30% stake in the T3 copper project to MOD Resources Limited (LON:MOD) (ASX:MOD) and increasing its investment in the Kalahari Copper Belt.
ANGLE PLC (LON:AGL) is on track to gain US regulatory certification for its liquid biopsy system early next year after a clinical trial of 400 women with breast cancer met its primary objectives. The med-tech firm is seeking Food & Drug Administration Class II regulatory clearance for its Parsortix technology that harvests circulating tumour cells, which provide the tell-tale signs of cancer. FDA sign-off is seen as the gold standard for a medical device.
United Oil & Gas PLC (LON:UOG) has appointed David Quirke as the company’s new chief financial officer. Quirke joins the company on 24 June. He was previously with Tullow Oil, leading the oiler’s ‘treasury function’ between 2003 and 2017, and more recently was advising Assala Energy following its acquisition of Shell’s assets in Gabon.
Savannah Resources PLC (LON:SAV) has announced an increase in the mineral resource estimate at its Mina do Barroso lithium project in Portugal. The estimated mineral resources have been increased by around 15% to 27mln tonnes at 1.06% Li₂O for 285,900 tonnes of contained Li₂O.
Electronic ticketing company accesso Technology Group PLC (LON:ACSO) has appointed travel, technology and financial services veteran John Guilfoy as its chief operating officer.
i3 Energy PLC (LON:I3E) says there’s substantial value to be created in the UK North Sea through the development of small and mid-sized fields, in the vicinity of aging but well-maintained infrastructure.
The move from being a mining exploration company to a producer meant NQ Minerals PLC (LON:NQMI) could justifiably categorise 2018 as a transformational year. The Hellyer project in Tasmania now offers significant ongoing cash flow as the company works on its two exploration projects, Ukalunda and Square Post in North Queensland, Australia.
Kodal Minerals PLC (LON:KOD) has reported good progress with the metallurgical, engineering and environmental aspects of the Bougouni lithium project development in Mali. Social and environmental technical reports are being finalised for submission while community meetings have been positive, it said.
Oracle Power Plc (LON:ORCP) revealed on Thursday that it has entered into a loan agreement with Brandon Hill Capital Limited, a substantial shareholder in the company, to provide it with a working capital facility of up to £250,000.
Gold recovery specialist Goldplat plc (LON:GDP) is placing its Kilimapesa mine in south-west Kenya on care and maintenance until external funding for the operation can be secured. In an update, the company said a number creditors of the Kilimapesa business are showing patience, while it is still waiting for the local tax authorities to sanction a VAT repayment in excess of £1mln.
Arc Minerals Ltd. (LON:ARCM) has announced the appointment of Rémy Welschinger as a non-executive director with effect from today. The group noted that Welschinger is the founder and managing director of Limehouse Capital Limited, an investment holding company specialising in natural resources projects, and, up until 2018, he was Head of Commodities Sales in Europe for Deutsche Bank.
Yellow Cake PLC (LON:YCA) has revealed the resignation of James Keating as an independent non-executive director, with effect from 31 May 2019, and announced its intention to appoint Alexandra Nethercott-Parkes to replace him in that role. The firm noted that Nethercott-Parkes has over 15 years' experience in Private, Corporate and Funds administration, and has a wealth of experience in listed and regulated funds, large real estate companies, UK REIT's and capital markets deals.
Live Company Group Plc (LON:LVCG) has confirmed that, further to its share placing and subscription to raise gross proceeds of £2.2mln announced on 11 February 2019, while the placing proceeds of £1.26mln were received in full in February, of the £0.84mln subscription, a sum of £0.20mln is still outstanding from one subscriber. However, the company said it anticipates that the further £0.20mln will be received shortly.
Physiomics Plc (LON:PYC), a provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry, has appointed Strand Hanson as its nominated and financial adviser, with immediate effect. The firm said Hybridan will continue to act as the company's sole broker.
ReNeuron Group PLC (LON:RENE), a UK-based global leader in the development of cell-based therapeutics, said its management team will be participating in 1-on-1 meetings at the Jefferies 2019 Global Healthcare Conference on Tuesday 4 June 2019 in New York City.