Payment solutions and platform provider Mobilityone Limited (LON:MBO) surged higher this afternoon after it launched a ‘Tap ‘n Pay’ platform for Bangladeshi bank Meghna.
The new platform will give the “unbanked” Bangladeshi population access to basic banking services, MobilityOne said.
As the name suggests, the platform allows for customers to make contactless payments using their cards.
Dato' Hussain A Rahman, MobilityOne chief executive, said: "We are proud for MobilityOne to be part of the Digital Bangladesh revolution and I am confident that MobilityOne's technology will be able to bring the Bangladesh government's vision closer to fruition.
“The mobile financial services platform launched by Meghna has succeeded in extending banking services to the greater mass of population with very little cost in areas without the presence of bank branches."
Shares jumped 28.7% to 5.15p in late afternoon trading on Friday.
Spoons froths higher
On the FTSE 250, British pub chain JD Wetherspoon PLC (LON:JDW) frothed 12% higher to £11.68 after a strong set of full-year results.
Like-for-like sales in the 12 months ended 30 July increased by 4% which was at the top end of guidance, while margins also increased throughout the year to 7.7% (2016: 6.9%).
That helped pre-tax profits break through the £100mln barrier to £102.8mln – a 25% or so increase on the £80.6mln posted last year.
On top of that, Spoons confirmed it had made a hot start to the current year, with sales 6% ahead in the opening six weeks or so.
1pm: Avon Rubber shares stretch higher as it delivers confident outlook
Avon Rubber PLC (LON:AVON) shares stretched higher after saying it expects 2017 full year adjusted pre-tax profit to be in line with market forecasts and that the business is “well positioned” to deliver further growth next year.
The maker of rubber-based products for the manufacturing sector said trading in the second half of the year met its expectations with its Avon Protection and Milkrite|InterPuls businesses both contributing to revenue and profit growth.
“The strong order pipeline in both businesses provides good visibility going into financial year 2018 and the business is well positioned to deliver further growth and take advantage of additional opportunities, including from our expanding product base, to build a stronger business for the future,” said chief executive Paul McDonald.
Shares gained 1.96% to 968.15p.
10.50am: Echo Energy gains, Character Group falls
Echo Energy PLC (LON:ECHO) rallied after telling investors it hired a contractor for the reprocessing of 3D seismic for the Huayco and Rio Salado blocks, onshore Bolivia.
The contract was awarded to DMT Petrologic which has extensive experience in the reprocessing of vintage data in similar thrust belt areas.
The first reprocessed tranche is expected to be ready by the end of November, with all the work due to be completed in the first quarter of 2018.
Shares rose 7.14% to 11.25p.
The Character Group PLC (LON:CCT) was under the cosh after saying it has terminated the employment of chief financial officer and company secretary, Mark Dowding.
The maker of Peppa Pig soft toys said the senior executive team has lost confidence in Dowding but insisted that the decision to oust him “does not reflect any circumstances relating to the trading of the group or its finances”.
In April the company reported a 25.3% drop in pre-tax profit to £6.5mln and a 5.7% fall in revenue to £61.5mln, blaming “challenging market conditions” and tough comparatives due to strong growth in the same period a year ago.
Shares fell 4.24% to 497p.
09.55am: Gym Group shares flex higher
The Gym Group PLC (LON:GYM) shares strengthened after saying it has bought 18 gyms from Lifestyle Fitness for £20.5mln in cash.
The company has entered into a binding sale and purchase agreement with Competition Line Limited, the owner of the sites, and the deal is expected to be completed on 29 September.
The 18 sites are located mainly in the Midlands and North of England. Ten of the sites will be converted into The Gym Group brand while the other eight will continue to operate as Lifestyle Fitness and will be considered for conversion in due course.
Shares jumped 7.63% to 217.15p in morning trading.
Tungsten Corporation PLC (LON:TUNG) shares climbed 1.90% to 60.25p after reporting growth in first quarter revenue in line with expectations.
The provider of e-invoicing services revenue in the three months to 31 July rose 12% on the same period a year earlier as three new buyers were added to its network, including a multi-year global rollout of e-invoicing services for Carlsberg Group.
The underlying earnings (EBITDA) loss narrowed 36% on the back of stronger revenue and cost control.
DX (Group) PLC (LON:DX.) shares declined 7.96% to 7.05p after saying profits will be hit by an incorrect application of accounting policies relating to lease incentives on one of its sites.
Underlying profits for the year to 30 June 2017 will be affected by a £1.8mln non-cash impact.
“Under the correct accounting treatment, the £1.8mln lease incentive will be credited back over the remaining c.10 year term of the lease,” the group said.
CyanConnode Holdings PLC (LON:CYAN) was on the back foot after announcing a proposed £8.6mln fundraising.
The narrowband radio mesh networks company has proposed a placing and subscription of up to 30,852,488 ordinary shares at a price of 28p each.
Proceeds of the fundraising will be used to support investment sand working capital, the company said.
Shares dropped 10.91% to 0.147p.
Proactive news headlines:
Echo Energy PLC (LON:ECHO) told investors that it has hired a contractor for the reprocessing of 3D seismic for the Huayco and Rio Salado blocks, onshore Bolivia. The contract was awarded to DMT Petrologic which, according to Echo, has extensive experience in the reprocessing of vintage data in similar thrust belt areas.
Mosman Oil And Gas Ltd (LON:MSMN) confirmed it has now completed the deal for the Welch Permian basin project marking its second acquisition in the last quarter. It added that other potential acquisitions are under review, but, the immediate focus is on its new projects.
Asiamet Resources Limited (LON:ARS) expects to complete a feasibility study for its Beruang Kanan Main zone (BKM) early next year, with a development decision thereafter. In the six months to end June, Asiamet posted a net loss of $2.014mln against a loss of $808,000 a year earlier - the increase mainly relating to ongoing feasibility work at BKM and exploration and advancing the mining license at the Beutong project to production from exploration.
Premier African Minerals Limited (LON:PREM) has increased the estimate of the amount of tungsten in the underground section of its RHA project in Zimbabwe. The company said in a statement that measured resources rise 32% to 0.029m tonnes with a 52% increase in grade to 5.45kg WO3 (tungsten trioxide) per tonne.
SDX Energy Inc (LON:SDX, CVE:SDX) has confirmed the completion of its US$10mln equity placing which aims to fund an acceleration of new drilling plans in Egypt and Morocco. New shares were issued at 43.75p, which was the mid-market price immediately before the placing was announced earlier this month.
Green Dragon Gas Ltd (LON:GDG) is poised to add 6.36Bcf (billion cubic feet) to its output per year after it received approval for the Greka Chengzhuang Block (GCZ). The green light from the state means the firm can begin what's called the overall development plan (ODP) on the acreage.
APQ Global Limited (LON:APQ), the emerging markets growth investor announced that, as at the close of business on 31 August 2017, its unaudited book value per was 96.49p per ordinary share.
Rosslyn Data Technologies PLC (LON: RDT) has granted a total of 13,866,670 options to subscribe for new ordinary shares to various employees and directors of the company. The cloud-based enterprise data analytics platform group said the options are split into three equal tranches and each tranche shall vest evenly over a 3 year period. It added that the options are exercisable at 5.625p and will expire on 1 September 2027.