Microbiome specialist OptiBiotix Health plc (LON:OPTI) is to create four separate operating divisions, opening up the possibility of floating off one or more units.
The company believes its Optiscreen, OptiBiotix, SlimBiome and SkinBiotix technology platforms are now reaching a stage of development where it is advantageous to form separate divisions, each containing its own technology platform, intellectual property (IP) portfolio and partner agreements.
Elsewhere, the first full year of trading for Tavistock Investments plc (LON:TAVI) as a financial services group saw the group perform “substantially ahead” of market expectations.
Group revenues in the year to 31 March 2016 totalled £29.85mln, some £10mln ahead of the figure the group’s joint broker WH IRELAND had forecast as recently as April 2016.
Strategic acquisitions and its own contract wins helped serial over-achiever AdEPT Telecom plc (LON:ADT) boost pre-tax profit by nearly 29% in the year to end March, it told investors.
The telecoms specialist posted its 13th consecutive year of increased underlying earnings (EBITDA), which was up 34% to £6.15mln compared to £4.59mln for the 2015 year.
Revenues were lifted 30.8% to £28.9mln compared to £22.1mln.
A bunch of small-cap oilers involved in the Horse Hill development near Gatwick Airport has been given a boost by the Oil and Gas Authority, which has allowed them to retain the whole 55-square mile area for up to another two years.
Licences PEDL137 and PEDL246 have been converted under the latest protocol, which means the consortium can “continue without further relinquishment”, said one of the group’s members, Solo Oil PLC (LON:SOLO).
Southern Africa-focused energy supplier Tlou Energy plc (LON:TLOU) has been selected to develop a 50 megawatt (MW) coal-bed methane (CBM) power plant by the Botswana government.
Tlou originally submitted an application to develop a 10MW power plant at its Lesedi CBM project, and says the upgrade to 50MW shows the government’s support for domestic power sources.
DekelOil Public Limited (LON:DKL) said it now holds 85.75% of the company that owns the Ayenouan palm oil plant in Côte d'Ivoire.
The AIM-listed group increased its stake from 51% in a deal worth around £12.8mln, while it has an option over the remainder of the business at a fixed price of £5.1mln (€6.1mln).
In other news, Empresaria Group plc (LON:EMR), the international specialist staffing group, has acquired an 82.6% interest in Rishworth Aviation Limited and its sister companies.
The firm is paying US$10.0mln, or around £7.5mln, for its majority stake; the rest of the company will be owned by the senior management team at Rishworth, in line with Empresaria’s acquisition policy.
Rishworth Aviation is a profitable and cash generative recruitment group that has its headquarters in New Zealand.
Kibo Mining PLC (LON:KIBO) has reassured investors that although there’s been a short delay in the ongoing process to merge its Tanzanian gold interests with Lake Victoria Gold Ltd, the deal is still on.
The company announced on 2 June that it would be merging its Imweru gold project with Lake Victoria’s contiguous Imwelo gold project, in a deal that was widely seen as positive by markets.
Mariana Resources Limited (LON:MARL) has more attractive drill results from the flagship Hot Maden gold project in Turkey.
Among the highlights were 83.3 metres at 15.9 grams per tonne gold and 1.57% copper, 95.5 metres at 32.1 grams gold and 3.3% copper, and 23 metres at 16.1 grams and 1/1% copper.
And finally, mineral exploration firm China Nonferrous Gold Limited (LON:CNG) has announced that executive director Wang Yubin has resigned from the board for personal reasons.