15.58pm...ProPhotonix shares light up
ProPhotonix Limited shares have jumped 26.67% after saying its RGB IR LED line light was recognised at the annual Vision Systems Design Innovators Awards programme.
The designer and manufacturer of LED illumination systems and laser diode modules said RGB IR was designed specifically for an original equipment manufacturing (OEM) customer for an optical sorting application.
"This innovative multispectral line light features custom designed optics, collimating the light beams in both axes over a working distance up to 500mm, so that it requires no reconfiguration of the system resulting in minimal changeover time for the end-user and less servicing costs for the OEM," ProPhotonix said in a statement.
15.06pm...Juridica Investments on the back foot
Juridica Investments is under the cosh after reported a drop in net asset value (NAV) and another full year loss.
NAV per share fell to US$0.2541 at the end of 2016 from US$1.1432 the prior year, which Jurdica said reflected the payment of dividends of US$0.5461 per ordinary share and a total comprehensive loss of US$37.8mlnor $US0.3430 per ordinary share.
The total loss compared to a loss of US$49.2mln the prior year and was partly due to a net unrealised loss of US$20.3mln generated from the change in valuation of the company's investments and a net realised loss of US$10.4mln in the writeoff of three investments.
14.35pm... Altyn slumps as it estimates drop in 2016 production
Shares in Altyn plc (LON:ALTN) have plunged more than 12% after the gold mining and development company said it has experienced overall low levels of production in 2016.
The company expects gold production of 10,970 ounces (oz) in 2016, compared to 15,535 oz in 2015, while silver output is forecast to fall to 16,520 oz from 26,608 oz.
The cash cost of 2016 production is estimated to be in the region of US$900 per oz - US$1050 per oz, compared to US$837 per oz the previous year.
On a positve note, the company said it achieved growth in underground mining in the second half thanks to the acquisition of new equipment, which will improve production capacity in 2017.
1.30pm...WS Atkins receives takeover bid
Contractor WS Atkins PLC (LON:ATK) has received an indicative offer worth 2,080p from Canadian group SNC-Lavalin.
Atkins’ board said the offer was in the region where it could be accepted with some tweaks to the terms and conditions.
The two companies are in discussions about these other terms and conditions.
Shares rose 29% to 1.983p.
Internet domains provider Minds + Machines Group Limited (LON:MMX) was a strong performer as it reported orders for more than 200,000 new registrations in its .vip top-level domain.
The new registration orders should generate a minimum of US$1.3mln in income and potentially much more when the renewals come round.
It is expected that the registrations will show on industry sites that track new generic top level domain (gTLD) registrations over the next ten days and will take total registrations in .vip to in excess of 800,000.
Shares rose 5% to 9.44p.
10.00am...InnovaDerma's Skinny Tan races to number one in Superdrug
Skinny tan distributor InnovaDerma PLC(LON:IDP) reports revenue growth has significantly accelerated in the second half of its current trading year.
January and March achieved its highest-ever monthly revenues, which has made the quarter a record as well.
InnovaDerma said its Direct to Consumer (DTC) digital channel is performing exceptionally well compared to the same period in the previous year.
WATCH: Zak Mir on InnovaDerma ...
Skinny Tan's performance in Superdrug has also been 'outstanding' and the product has already become the chemist chain’s No1 selling brand in 2017 in money terms following a big increase in its allocated shelf space from February.
Graphics chip technology firm Imagination Technologies Group PLC (LON:IMG) has been dealt a body blow by its biggest customer, Apple Inc (NASDAQ:AAPL).
The iPhone and iPad maker has served notice to Imagination that it expects to stop using the UK company’s intellectual property (IP) in new Apple products in 15 months to two years’ time.
Shares crashed 61% to 104.7p, but analysts suggest a takeover may now be on the cards.
In a curious twist, Apple itself made an approach to the chip designer a year ago.
Asian Growth Properties Ltd ( LON:AGP) climbed 78% to 108.5p as it agreed the sale of its properties outside of China for around US$914mln.
A special dividend of HK$10.65 (£1.06) will then be paid to Asian Growth’s shareholders.
Majority shareholder SEA has conditionally agreed to buy the assets and then to distribute its stake in the company to its shareholders.
Proactive news headlines
Cloud-based portfolio analytics services provider StatPro Group PLC (LON:SOG) has bagged a three-year contract extension worth C$6.0mln (£3.6mln).
Avacta Group Plc described as “excellent” results from the latest study of its Affimer technology, which it said is now at an “inflection point” as a therapeutic platform. Researchers looked at immunogenicity - assessing whether Affimer provoked an unwanted immune response – and compared with Avastin, an antibody used to treat cancer.
Collagen Solutions PLC (LON:COS) has taken another step into the US$4bn wound healing product market after signing a development and manufacturing agreement with Smart Matrix.
The two will work together to develop and manufacture an advanced wound care scaffold which encourages the growth of skin cells and blood vessels in deep wounds where the deepest layer of skin is lost.
Bushveld Minerals Limited (LON:BMN) will complete its acquisition of a 78.8% stake in Strategic Minerals Corporation from Evraz Corp on Friday after receiving clearance from South African authorities. The company’s wholly-owned Bushveld Vametco Limited will pay a total US$14.8mln for the shareholding in Strategic Minerals.
ANGLE PLC’s (LON:AGL) breakthrough cancer diagnostic is better than the existing technology in harvesting head and neck cancer cells, according to work carried out in Greece. The results of the study by the University of Athens and Attikon University Hospital will presented at the American Association for Cancer Research conference later. ANGLE calls them “highly encouraging”.
Hydrogen fuel cell developer AFC Energy (LON:AFC) has revealed that tests with conducted by its Italian partner gives confidence that commercial life expectancy of its fuel cell stack may exceed its initial target of twelve months.
Research specialist Ergomed Plc (LON:ERGO) said a partner company successfully concluded a phase IIa clinical study, paving the way for a commercial collaboration on the next trial. Denmark-based Asarina Pharma is pioneering a treatment called Sepranolone for a severe and disabling form of premenstrual syndrome, which affects 5% of women with periods.
Minerals explorer and developer Bezant Resources plc (LON:BZT) has told investors it is targeting first production at its Choco alluvial gold-platinum project this quarter. Mine development, plant acquisition and commissioning are also scheduled to be carried out over the coming 12 weeks or so at the Western Colombian project.
LGO Energy PLC (LON:LGO) confirmed a £2.5mln funding, and revealed it has started drilling its next new at the Goudron field in Trinidad.
Providence Resources PLC (LON:PVR) flagged an 'imminent' new 3D seismic programme on the Dunquin South exploration prospect offshore Ireland. The project is being led by majors ENI and Repsol.
Lekoil Ltd (LON:LEK) has dealt General Electric's oil and gas arm into the Ogo oil field development, meanwhile, negotiations continue with other potential partners ahead of new appraisal drilling in either late 2017 or early 2018.
Iofina plc (LON:IOF), which extracts iodine from brine water, said a cut in supply to one of its plants, IO#3, will only have a marginal impact on overall production from its facilities. It sources the raw material from the onshore oil and gas producers in the US. One of its partners said volumes of salt water would be reduced.