Hurricane Energy PLC (LON:HUR) has decided to sideline plans to raise a further US$$5mln of capital via an offer to shareholders.
The UK offshore oiler had intended to give existing shareholders the opportunity to invest at the same price as the investors that bought into the company via its recent US$530mln funding, allowing long term holders to manage the dilution somewhat.
On the subject of fund-raising, Empyrean Energy PLC (LON:EME) has placed 11.76mln shares at 8.5p a throw, raising £1mln before costs.
Sector peer Cabot Energy PLC (LON:CAB) has now kicked off its summer work programme in Canada, where it is targeting an extra 300 barrels of oil production per day from the Rainbow and Virgo areas.
The company, formerly known as Northern Petroleum, told investors that it expects the programme to last for two to three months.
Elsewhere in the resources sector, miner Stratex International plc (LON:STI) hardened as it agreed to dispose of the Posse Iron Ore mine in Brazil for R$8mln or about £1.94mln.
The consideration will be paid over a 17 month period conditional on R$1.0mln (£0.24mln) being paid before 10 August after which payment will be in 15 equal monthly payments.
In the tech sector, Be Heard Group PLC (LON:BHRD) was wanted today as the digital marketing services group said it is confident of hitting full-year targets after its first half revenue soared.
The AIM-listed firm saw its net revenue leap 155% higher to £8.4mln in the first half of 2017 from £3.3mln the year before, thanks in part to a full six months' worth of contributions this time round from acquired MMT and Kameleon, plus a first-time contribution from Freemavens, acquired in February of this year.
Adept Telecom PLC (LON:ADT) advanced on news it is to become the largest supplier of IT systems to London’s schools with the acquisition of Atomwide Limited for £12mln.
Atomwide has a customer base of more than 4,000 schools and over two million users including a long-term relationship with the London Grid for Learning.
Chief commercial officer Laurence Cook is the new chief executive officer of blur Group PLC (LON:BLUR), replacing founder Philip Letts. Cook joined blur in November and has been instrumental in driving customer acquisition in the Enterprise sector, blur's stock market statement said.
Portfolio analytics software provider StatPro Group PLC (LON:SOG) has seen strong organic growth in revenue this year from its flagship Revolution product. The cloud-based StatPro Revolution platform saw organic revenue growth of 16% in the first half of the year, as the group as a whole reported a 2% organic rise in revenue.
Finally, Action Hotels PLC (LON:AHCG) has opened its second Bahrain hotel – in the city’s diplomatic area. Branded ibis Styles, the venue has 95 rooms, including 24 family suites and offers easy access to the international airport and the World Trade Centre.