Fitbug suspended after 370% rise
Best of the Best earnings soar
Pearson hammered after grim trading update
Powerhouse Energy PLC (LON:PHE) justified its name as tie-up with project development consultant Waste2tricitysent its shares rocketing 38% to 0.829p.
The two companies will work together to develop “multiple” waste-to-energy (WTE) plants in the UK.
Waste2tricity will be paid £20,000 a month in PHE shares for an initial contract period of two years, although 51% of these shares will be held back until a final decision on a commercial project is reached.
“We now have ‘boots on the ground’ in the UK,” said PowerHouse executive chairman Keith Allaun.
Once a project is successfully developed and each party has recovered its costs, any profits from the project will be split equally.
What on earth is going on at Fitbug PLC? (LON:FITB).
Having shot up over 500% at one stage ostensibly on news of a contract for 14,000 of its wellness monitoring devices with a financial services group the shares were suspended at 0.677p (up 370%) at 3.23pm pending an announcement.
Watch this space as they say.
Supercar lottery group Best of the Best plc also made it onto the top risers list as revenues rose 10.9% to £5.52mln in 2016 and profits almost doubled to £920,000.
Enough for about nine supercars more or less. Shares rose 20% to 355p.
12 noon... Urals Energy boosted by production update
An upbeat trading statement had Russia –focused oiler Urals Energy (LON:UEN) ticking higher.
Total production in 2016 was 756,690 barrels against 675,317 barrels in 2015.
Two cargo deliveries will be made from the Kolguev sea terminal this year, most likely in or around June 2017 and during October 2017, Urals added.
A capital restructuring has also been proposed that will clear a reserves deficit and allow Urals to pay dividends in future if the company so desires.
Shares rose 6% to 4.81p.
Another Russia-based company, Eurasia Mining plc (LON:EUA) jumped 13% to 0.65p as its reported its feasibility for the Monchetundra platinum licence was being reviewed by the State Commission on Mineral Reserves or GKZ.
Mr Kipling and Oxo owner Premier Foods PLC (LON:PFD) dropped 16% to 40.2p on a profit warning related to the slide in the pound since Brexit.
9.06am ...Fitbug in good shape as contract news fires up shares
Fitbug PLC (LON:FITB) sprinted out of the blocks as a contract with an unnamed financial services group added 120 % to its share price.
The wellness and fitness monitoring specialist said the contract was with a firm employing 14,000 staff, each of who would get one of its devices.
A one-year corporate wellness programme was also included. Shares rose to 0.373p
One FTSE 100 company that could do with a corporate wellness programme for itself is Pearson PLC (LON:PSON), which slumped after a dismal trading update.
The company has been hit hard by a boom in online education courses in the US.
The dividend is going along with staff bonuses while book publisher Penguin Random House has been put on the block to help shore up the balance sheet.
Shares fell 26% to 595p.
Back among the small caps, Blenheim Natural Resources PLC (LON:BNR) rocketed higher as it raised £750,000 through a placing at 0.35p and took out an option over a lithium project in Mali.
The option is for 30% of the Dieba exploration permit, an area adjacent to an existing operation, Bougouni, run by Birmian Ltd.
Shares rose 32% to 0.55p.