CSF Group plc (LON:CSFG) shares rose after saying the interim stage for the conditional disposal of CSF CX Sdn Bhd has taken place.
The company, which develops, constructs, fits and maintains data centres in Malaysia, said its wholly-owned subsidiary, CSF International Limited, has completed the transfer of its shareholdings in CSF CX to Bridge Data Centres Malaysia Holdings Sdn Bhd, a unit of BDC AssetCo Pte Ltd, for RM2.00.
Completion of the disposal remains conditional upon a number of outstanding conditions being satisfied including the receipt of various regulatory consents and certain restructuring activities being undertaken in CSF CX following the share transfer.
Shares gained 14.29% to 2.0p.
Stratex International shares were also sitting higher as chief executive Marcus Engelbrecht left the miner after dissident shareholders voted down a proposed merger with Crusader Resources.
Shareholders voted on a resolution for the removal of Engelbrecht along with the a resolution to ditch the merger with Crusader.
Shares resumed trading, having been suspended before the vote, rising 8.51% to 1.28p.
1.00pm: Sportech shares slip on concerns about VAT claim
Shares in pool betting operator and technology supplier Sportech plc (LON:SPO) dropped after warning that a Supreme Court ruling against retailer Littlewoods Limited over a claim for compound interest on the repayment of overpaid VAT could have implications for its own claim.
In 2009, the company submitted a claim to the High Court to receive compound interest rather than simple interest on overpaid VAT. It also submitted appeals to the tax tribunal.
The compound interest claim and Tribunal appeals have been on hold pending the Supreme Court’s ruling in the precedent case on Littlewoods.
"Whilst this Supreme Court ruling is disappointing from the perspective of our own compound interest claim, it does not affect the operational progress at the company, our growth opportunities or our ongoing strategic review,” said chairman Richard McGuire.
Shares fell 7.14% to 97.50p.
UniVision Engineering Ltd (LON:UVEL) shares shot up 27.27% to 1.75p as it said further worked has been confirmed under its contract with MTR Corporation.
Under the contract, which was announced in May this year, UniVision was to replace the closed circuit television systems for 84 mass transit railway stations and 69 Light Rail stops in Hong Kong.
UniVision has now secured additional works for the integration with the Station CCTV System in the Hung Hom to Admiralty Section of the Shatin to Central Link project. It is part of the optional works as allowed under the Contract.
11.30am: LPA rallies on record second quarter output
LPA Group PLC (LON:SPA) gained as the LED lighting and electro-mechanical system manufacturer said it achieved record second half output and expects to sustain the strong performance in the new financial year.
Margins improved in the second half after being depressed on an unfavourable product mix in the first six months of the year. LPA said the margins “responded well” to higher volumes and manufacturing efficiencies have “improved significantly”.
The new lighting facility in Yorkshire and the electro-mechanical facility in Saffron Walden, both delivered record levels of output.
“Expectations for the year just closed anticipated significant progress and the Board believes it has delivered on this,” the company said.
Shares increased 13.85% to 148p.
Challenger Acquisitions PLC (LON:CHAL) shares fell 9.52% to 0.95p as the leisure and entertainment company said it has received £250,000 from its £10mln convertible note facility due 8 June, 2019.
The company said a total of £600,000 has now been received from the facility and it will use the proceeds for working capital purposes and lend support in its review of projects to complement its US$3mln equity interest in the New York Wheel – a 630-foot tall Ferris wheel under construction in Staten Island.
10.00am: Nighthawk Energy shares soar on farm-out option agreement
Nighthawk Energy PLC (LON:HAWK) shares surged 100% to 0.50p after saying it has entered a farm-out option agreement with a US oil and gas explorer for the Monarch area.
Under the deal, Nighthawk’s partner has the option to buy a 80% stake of the project at Monarch for US$160,000.
It will be able to drill and test a well at Monarch at its own cost.
"This farmout option agreement creates opportunity for development of existing exploration acreage, providing for the potential of additional revenue and reserves,” said Chuck Wilson, Nighthawk chief operating officer.
One Media PLC (LON:OMIP) was on the front foot after the digital media content provider said it is on track to meet year-end forecasts.
The company said it continues to trade in line with both the directors' and market expectations. It also retains a strong cash position, is debt free and profitable.
Shares jumped 28.57% to 4.50p.
Richland Resources Ltd (LON:RLD) shares edged down more than 14% to 0.60p after the gemstones firm missed its quarterly production target.
Third quarter production came to 1.06mln carats, compared to the company’s expectation of 1.2mln.
The group blamed the shortfall in production on the “significant rehabilitation of mine disturbance” conducted during the period in preparation for the upcoming wet season.
Sapphire prices also remained depressed due to the continued influx of illegally mined sapphires from an environmentally protected region in Madagascar.
As a result, Richland decided to carry a majority of stock into fourth quarter sales, resulting in just US$245,000 of sapphire sales in third quarter.
Active Energy Group PLC (LON:AEG) said it has completed a £1.75mln oversubscribed placing through the issue of more than 84 million shares.
The renewable energy and forestry management company said it would use the proceeds to support the commercial roll out of its CoalSwitch(TM) biomass fuel product, and for working capital.
Shares declined 12.96% to 2.35p
Other Proactive news headlines:
Mining company investor Cadence Minerals PLC (LON:KDNC) is to restructure its balance sheet to free up capital for new lithium assets. Cadence added it is already at an advanced stage of reviewing several early stage lithium projects, which can be developed and produce cashflow faster than a typical lithium carbonate deposit.
Thor Mining PLC (LON:THR) chairman Mick Billing said high-cost exploration is no longer a key activity for the company as he set out plans to fast-track its key tungsten and copper projects. Part of the programme for the coming months is a review of the open-cut ore reserve at Molyhil, its tungsten and molybdenum deposit in Australia’s Northern Territory.
Challenger Acquisitions Limited (LON:CHAL) said it has received £250,000 from the previously announced £1mln unsecured convertible note facility due on 8 June 2019. The group said in total £600,000 has now been received from this facility, with the funds received to be used for general working capital purposes and to support the company in its review of projects to complement its US$3mln equity interest in the New York Wheel Project.
OptiBiotix Health PLC (LON:OPTI) has signed a profit sharing agreement with a division of Premier Foods, which will manufacture and distribute the breakthrough weight-loss product, SlimBiome. The deal is with Knighton Foods, a supplier of powdered products to supermarkets and High Street coffee houses.
Bango PLC (LON: BGO) has expanded its presence and business development activity in South Korea, increase payment opportunities for digital, physical and Internet of Things (IoT) services across the region. The AIM-listed mobile payments company announced that, to lead these opportunities, it has appointed Alex Oh as Country Manager, South Korea, whose 25-year career includes technical leadership at Samsung, Dilithium Networks and Comverse and most recently in the field of media streaming devices.
Corero Network Security PLC (LON:CNS) is clearly doing something right after one of its early customers renewed its contract for the third consecutive year. The renewal with the unnamed digital enterprise client is worth over US$200,000 and will see Corero continue to supply its SmartWall Threat Defense System.
Renewable energy specialist Active Energy Group PLC (LON:AEG) has raised £1.75mln as it looks to accelerate the international commercial roll out of its CoalSwitch biomass
Banking software specialist Lombard Risk Management PLC (LON:LRM) said challenger bank has signed up to take its AgileREPORTER service for 10 years.
Greencoat UK Wind PLC (LON:UKW) has acquired an 80% stake in five wind farms in the Peterborough area for £98mln. The stake has been acquired from EDF Energy Renewables. The wind farms have, in total, 47 Senvion 2.05 megawatt MM82 turbines.
Echo Energy PLC (LON:ECHO) has unveiled the details of its latest transaction which sees it acquiring a 50% stake in onshore Argentina. The company is taking stakes in four licences (Fracción C, Fracción D, Laguna de los Capones and Tapi) spanning some 11,153 square kilometres within the prolific Santa Cruz province.
Oracle Power PLC (LON:ORCP) has provided details on its deal with state-backed Chinese groups to advance its coal assets in Pakistan. A formal deal with Sichuan Provincial Investment Group Co. Limited (SCIG) and PowerChina International Group (PowerChina) is now expected to be signed in November, the company told investors.
Stratex International PLC (LON:STI) has suspended it shares ahead of a shareholders meeting to determine whether to go ahead with a merger with Aussie-listed Crusader Resources (ASX:CAS). The AIM-listed gold miner is facing opposition from a number of dissident shareholders, two of whom have proposed an alternative plan to merge with the company's African joint venture partner Thani Stratex.