Below are some of the main news-driven share price changes at 3.15pm.
RISERS
Ascent Resources PLC (LON:AST), up 24% at 1.15p. Cadogan Petroleum PLC (LON:CAD) has made a bid approach for Ascent. Discussions are still at an early stage and, as usual, there is no guarantee that a bid will ensue.
Nyota Minerals Ltd (LON:NYO), up 9.4% at 0.09p. Mark Lancaster has upped his stake in the gold asset developer above 4% to 4.14%, while Grant Stevens has also moved his stake above 4%, to 4.43%. Stevens is one of three shareholders who signed a letter calling for the removal of Nyota's chief executive, Richard Chase, and executive director, Michael Langoulant.
Mithras Investment Trust PLC (LON:MTH), up 8.9% at 158.5p. The company is preparing for its fifth tender offer to buy back shares, which is expected to be for no less than £9mln. The previous tender offer was made at 156.1p.
FALLERS
CPPGroup PLC (LON:CPP), down 13% at 10.75p. The credit card protection services firm, still recovering from a mis-selling scandal, released its results for 2015 in which it acknowledged the call this week from Schroder Investment Management for a meeting to vote on the removal of the chief executive and current non-executive directors from the board. The board said the requisition came as a surprise.
Redx Pharma PLC (LON:REDX), down 11% at 38.5p. The drug discovery firm has raised £10mln by placing shares at 35p each. Most of the money will be used to develop its pipeline.
YOLO Leisure & Technology PLC (LON:YOLO), down 11% at 1.1p. The investment company had net assets of £1.25mln as at 30 September 2015 and generated a loss before tax of £244,920 in the year to that date.
Main share price risers and fallers in London at 1pm
RISERS
Cathay International (LON:CTI) up 18% to 15p. Lansen Pharmaceutical has agreed to put in US$4.31mln Cathay’s associate Haotian with a possible US$4.15mln to follow later.
Trinity Exploration (LON:TRIN) up 3% to 2.89p. Trinidad based oil groups given lift by reduction in royalty rates while oil remains below US$50 per barrel.
Frontier IP (LON:FIPP) up 2% to 24.06 strong response to placing by university spin-off specialist. Shares were issued at 24p to raise £1.1mln.
FALLERS
Intelligent Energy (LON:IEH) down 79% to 9.6p. “Recent and unexpected developments in the discussions with various parties” mean the energy tech group will not be able to complete a funding by this quarter or possibly at all.
Sareum Holdings (LON:SAR) down 21% to 0.639p. Drug group raises £1.1mln through a placing at 0.7p per share to fund development programmes.
Lakehouse PLC (LON:LAKE) down 9% to 44p. Board urges shareholders reject plans by founder Steve Rawlings and Slater Investments to remove existing non–executives and replace them with their own nominees. General meeting is scheduled for 19 April.
Main share price risers and fallers in London at 9.00am
RISERS
Northcote Energy (LON:NCT) up 26% to 0.06p. Work schedule at Shoats Creek in Louisiana this year will involve three new wells and two re-works at a net cost of US$300,000. The first well, LM#21, is to be drilled in May.
Venn Life Sciences PLC (LON:VENN) up 9% to 20.4p. Venn, which provides drug development, clinical trial management and resourcing services to drug, biotech and medical device clients, expects 2015 revenues to be significantly more than double the previous year's €4.9mln and to top market expectations by at least 15%.
Trading Emissions PLC (LON:TRE) up 27% to 7.01p. Carbon trader is to distribute 5p per share or £12.5mln in total to shareholders after a significant reduction in liabilities.
FALLERS
Progility PLC (LON:PGY) down 23% to 0.75p. Sales rise 23% at specialist recruiter and communications firm and interim loss reduced to £1.4mln, but management says outcome for the year heavily dependent on second half trading.
Active Energy Group PLC (LON:AEG) down 19% to 4.25p. The owner of wood fibre, forestry and coal replacement assets said operating losses had widened marginally in 2015 but it remained upbeat over the longer term potential.
Next PLC (LON:NXT) down 9% to 6,050p. FTSE 100 retailer has warned that trading conditions will remain a challenge in 2016. Sales growth forecast is for between -1.0% to +4.0%, but “at this stage we think it is best to prepare ourselves for what could be a difficult year”.