News of a contract win can be a share price catalyst for a small cap, and so it has proved with Imaginatik Plc (LON:IMTK).
Shares were up 8.3% at 1.76p after the £3m collaboration software company won a new contract for its full service innovation offering with a large US-based investment management company.
The initial contract is for a three year term and is valued at roughly US$0.5mln.
This contract will see the unnamed company use Imaginatik's enterprise innovation software platform and consultancy services, including innovation strategy advisory work and innovation capability building.
That's a lot of innovation.
Matt Cooper, the non-executive chairman, used the term again in his comment on the contract win.
“Our unique ability to provide consultancy services and also deliver innovation programmes through our software platform remains a powerful differentiator in the market and we are pleased to see this resonating with our target market," Cooper said.
Results from early stage growth companies do not often get investors excited, as they usually just remind shareholders that jam is expected tomorrow, not today.
That being said, ImmuPharma PLC's (LON:IMM) interims were warmly received, as they outlined the progress the company has made on its lead drug Lupuzor, a treatment for the auto-immune disease lupus.
The figures followed hot on the heels of yesterday's news that the company has started preparations for a new drug application of its lupus treatment Lupuzor with its Phase III trial now over half way through.
Investors tuck into Hotel Chocolat
Investors tucked into Hotel Chocolat Group PLC (LON:HOTC) after the “chocolatier” saw profits virtually double in the year just ended.
Pre-tax profits soared to £11.2mln form £5.6mln the year before on revenue that rose 12% to £105.2mln.
The group declared a maiden dividend of 1.6p per share.
“The Hotel Chocolat brand has continued to strengthen and we have made excellent progress with our three strategic priorities of investing further in our British chocolate manufacturing operations, growing our store estate and developing our digital offering,” said chief executive Angus Thirlwell.
Phew - what a relief. Hotel Chocolat truffle making capacity rose 70% in the last year. Investors can rest easy - no wonder shares are up.
— Harriet Russell (@IC_HRussell) September 27, 2017
The shares were up 5% at 296.75p.
Carillion PLC (LON:CLLN) surged 20% to 55.58p after business daily City AM suggested a Middle East construction firm is lining up a bid.
“The upward move in the share price today, pales in comparison to the plunge the share price took in July when it issued a profit warning and the departure of its CEO,” noted David Madden.
“The troubled construction company may welcome the takeover approach as it is struggling with high debts, but some shareholders might feel they are being targeted near the all-time low,” he opined.
Intelligent Energy Holding emerges from the dog-house
It's been a tough few days for Intelligent Energy Holding PLC (LON:IEH) since its trading update last Friday, which sent the shares tanking.
The stock rallied 7.3% today to 1.85p, possibly as a result of a stock overhang disappearing; there was a stock market announcement today that indicated the stake held by Vidacaos Nominees had fallen from 9% to less than 3%.
Also going well was Kibo Mining PLC (LON:KIBO), up 7.7% at 5.25p after it issued £1.55mln in convertible loan notes, and welcomed a new high net work investor to the shareholder register.
Louis Coetzee, chief executive officer of Kibo Mining, said: "All parties involved in the uptake of the convertible loan notes understand the potential of the company and have agreed to subscribe, importantly, at a price not less than £0.05 per share.”
Cyber-security firms under attack from market makers
ECSC Group PLC (LON:ECSC) shed a quarter of its value as it said full-year revenue and earnings would be below expectations.
The provider of cyber-security services, which listed in December last year, said it was reviewing the cost base in view of slower-than-expected revenue growth.
The news follows on from June's trading update in which the company warned the market was experiencing delays in converting its sales pipeline.
Half-year figures showed the company in the red, to the tune of £1.58mln after sales & marketing costs rose to £1.3mln from £486,000 the year before and administrative expenses ballooned to £1.29mln from £480,000.
ECSC's star has waned quickly in the second half of the year. The shares floated at 167p and had risen to 595p by the middle of May, but are now below their flotation price, trading at 134.45p.
Completing a bad morning for cyber-security companies, half-year results from Defenx PLC (LON:DFX) got a poor reception.
The shares lost a fifth of their value after it announced an operating loss (before transaction costs) of €1.31mln (1H16: €296,000), reflecting the front-loading of full year marketing contributions into the first half of the year to drive sales that are seasonally weighted into the second half of the year.
“As we have previously indicated, our business is heavily seasonal with costs weighted towards the first half of the year and revenues towards the second half. As we invest in new product developments and move into the corporate market in collaboration with BV-Tech there may be an adverse effect on revenues and profits in the short term as we build for the future,” warned Andrea Stecconi, Defenx's chief executive officer.
Synairgen lifted by plans to target its interferon beta drug at the COPD market
Synairgen PLC (LON:SNG) is to develop its inhaled interferon beta drug SNG001 as a potential treatment for chronic obstructive pulmonary disease (COPD).
The news sent the shares surging 13% to 12.125p.
The decision was made after a review of data indicated it can boost the lungs’ antiviral capabilities.
READ SynairGen to target COPD with inhaled interferon beta treatment
A short trial is being planned this winter to test the COPD treatment potential, the company said.
Banks have not been getting a lot of love these past few years but PCF Group PLC (LON:PCF) bucked the trend this morning.
The shares advanced 13% after the company raised expectations for full-year results.
With less than a month of the current financial year left to run, the group said trading this year had been strong, with the launch of PCF Bank in July going better than expected.
PCF Bank commenced retail deposit taking operations on 27 July and its success has exceeded expectations. To date, roughly £51mln of retail deposits have been received.
READ PCF Group's results to be ahead of expectations
Proactive news headlines:
Canadian Overseas Petroleum Limited (LON:COPL) (CVE:XOP) told investors it is making “encouraging progress” towards a funding deal for its oil field appraisal and development project offshore Nigeria. The AIM-quoted oiler said it is confident that it will drill an appraisal well in late 2017 or early 2018 as targeted.
Greka Drilling Limited (LON:GDL) has revealed what it described as a “well-balanced” trading performance in its half yearly results. The drill contractor reported a 38% increase in first half revenue, up to US$3.6mln in the six months to 30 June, from US$2.6mln in the same period of last year, as it completed 12 wells in the half versus 10 in the comparative period.
Landore Resources Ltd (LON:LND) struck a confident tone in its half yearly results statement as it looked to further exploration potential around its BAM East gold project, in eastern Canada. The explorer highlighted the rapid delineation of BAM East in the 12 month period following the discovery and its highly successful summer drilling programme, saying that the findings bode well for the possibility of finding and delineating similar open pit gold deposits.
Stratex International PLC (LON:STI) announced that it has received notification from privately-owned investment company Peter Gyllenhammar AB, confirming that it has a stake of over 3% in the firm, which is currently engaged in a battle with some shareholders over its reverse takeover plans.
Oracle Power PLC (LON:ORCP) said it has agreed in principle a Memorandum of Understanding with two Chinese State-owned enterprises for the full development and funding of its flagship Thar project in the south-eastern Sindh Province of Pakistan.
Kibo Mining PLC (LON:KIBO) said today it has issued £1.55mln in convertible loan notes to a new, unnamed high net worth investor, directors and management of the company, and Sanderson Capital Partners Limited. The Tanzania focused mineral exploration and development company said the subscription raises £500,000 of new capital, and also satisfies £260,000 of awards in lieu of the company's Management Incentive Scheme. It is also in settlement of new terms agreed covering £790,000 of the discounted debt sale facility currently in place between Sanderson and the company.
Tanzania-focused gold mine developer Katoro Gold PLC (LON:KAT) remains well ahead of schedule in its development of the Imweru project.
FairFX Group PLC (LON:FFX) opened sharply higher after the firm announced a maiden half-year profit.
Drug development company Ergomed PLC (LON:ERGO) has signed its first commercialisation deal for its haemostat products PeproStat and ReadyFlow. The deal is with Boryung Pharm, one of the largest pharmaceutical companies in South Korea.
Specialist bank PCF Group PLC (LON:PCF) said results for the current financial year should be ahead of market expectations.
PowerHouse Energy PLC (LON:PHE), a specialist in turning waste into synthesis gas, has told investors it accomplished a “tremendous amount” in the first half of the year.
Vehicle tracking technology firm Quartix Holdings PLC (LON:QTX) is to bring in Daniel Mendis as its chief financial officer to replace the outgoing David Bridge. Mendis, who has been head of finance at Associated British Foods PLC’s (LON:ABF) AB Agri division for almost four years, will join on 1 January 2018.
The boss of KEFI Minerals PLC (LON:KEFI) has hailed the “transformational” first half of the year as the gold explorer moves towards the development of its Tulu Kapi gold project in Ethiopia.
ImmuPharma PLC (LON:IMM) said the six months ended June has been a period of immense progress for the company and its lead drug Lupuzor, for the aut-immune disease lupus. Lupuzor is currently undergoing a Phase III clinical trial involving 200 patients in the US, Europe and Mauritius – with 26% of the group having completed the 12 month course of treatment and everybody having passed the six-month milestone.
InnovaDerma PLC (LON:IDP) has announced a series of commercial deals for its Skinny Tan products, including one targeting the premium health and beauty segment. Upmarket department stores chain Fenwick will take the bronzing and sculpting range in selected outlets.
Hummingbird Resources PLC’s (LON:HUM) interim results chart a busy and productive period for the mine developer ahead of its maiden gold pour at the end of this year. The Yanfolila project in Mali is currently under construction. It is fully funded to production and is on schedule and on budget, the firm said.
Synairgen PLC (LON:SNG) will develop its inhaled interferon beta drug SNG001 as a potential treatment for COPD after a review of data indicated it can boost the lungs’ antiviral capabilities. A short trial is being planned this winter to test the COPD potential.
Harvest Minerals Limited (LON:HMI) has applied to have its KPfértil fertiliser registered as a remineraliser with the Brazilian Ministry of Agriculture, Livestock and Supply (MAPA). The application is expected to be approved by the end of the year with sales of KPfértil to grow rapidly following certification and in time for the next buying season, said Harvest.
Chaarat Gold Holdings Ltd (LON:CGH) wants to speed up the timeline at its Tulkubash mine in the Kyrgyz Republic following an improvement in the backdrop for miners in the country.