Newmark Security PLC (LON:NWT) was in demand on Monday after the security systems provider revealed its Grosvenor Technology subsidiary has entered into a new ongoing supply agreement with WorkForce Software.
WorkForce, a Grosvenor customer for more than three years, is a leading US-based global provider of cloud-based workforce management solutions headquartered in the US.
UK-based Grosvenor, will supply WorkForce Software globally with its IT51 Linux-based workforce management terminals through sale and leasing arrangements.
In addition, Grosvenor Technology will provide WorkForce Software with a range of remote support tools on an 'as a service' basis.
Newmark boss Marie-Claire Dwek said the deal was a “significant” one for Grosvenor. Shares jumped 27.1% to 0.89p.
Sula heads lower as founder steps down
Sula Iron and Gold PLC (LON:SULA) shares dropped 6.7% to 0.084pon Monday after the metals explorer’s founder and chief operating officer stepped down from the board with immediate effect.
Nick Warrell will remain chief executive of Blue Horizon, Sula’s Sierra Leone operating subsidiary, until the end of the month to ensure an orderly handover.
"As the founder of Sula and Blue Horizon, the company and its stakeholders would like to thank Nick for all his hard work and dedication over the last 6 years and wish him well for the future."
12.30pm...BlueStar surges as its SatoshiPay investee company chooses preferred cryptocurrency ledger
Blue Star Capital PLC (LON:BLU) surged higher on Monday after the tech investor confirmed its SatoshiPay affiliate company has agreed to partner with the Stellar Development Foundation as the underlying cryptocurrency ledger for its settlement system.
AIM-listed Blue Star owns around 31% of SatoshiPay’s share capital.
Since its initial product launch back in 2015, Satoshi has relied on Bitcoin to settle ‘nano payments’ but as the network has become more popular “it became clear that Bitcoin's original vision of a peer to peer electronic cash system was no longer viable for everyday transactions”.
Having carried out “extensive testing” on a range of cryptocurrencies, Satoshi concluded that Stellar’s Lumen would be the preferred default ledger.
"We are thrilled to be working with Stellar's technology to deliver our updated product to market in what we believe is the fastest way possible,” said Satoshi’s boss Meinhard Benn.
“We expect the generous 50mln Lumen which Stellar is giving to be a significant help in growing our user and client base."
Fishing Republic dives after sudden sharp drop-off in trading
Fishing Republic PLC (LON:FISH) has launched a strategic review alongside a wholesale board shake-up after a sharp downturn in trading from October sparked a big profit warning.
Steve Gross has stepped down as chief executive while Zoe Gross, operations director and Paul Hagerty, IT Director, are also departing the board.
Chris Griffin, formerly e-commerce director at SuperGroup has been appointed acting chief executive and will undertake the review of the sport fishing retailer.
Like-for-like store sales fell by 13% in October compared to growth of 16% in the nine months up to the end of September. Online business has also been affected.
The company – which sells fishing tackle, rods and clothing – said it would likely slump to a loss this year as it blamed an intense price war and rising competition for the drop-off in performance. Shares tumbled 40% to 22.7p.
9.15am ... Hemogenyx soars on Oxford University tie-up rumours
Shares in Hemogenyx PLC (LON:HEMO) soared early on Monday after a weekend report suggested the cancer-focused biotech will unveil a tie-up with Oxford University later this week.
The company, which only listed on the LSE last month, said it “noted” the article in the Daily Mail about a potential collaboration with the world-renowned university, adding that a further announcement will be made “in due course”.
Hemogenyx is developing antibodies to treat blood cancers such as leukaemia and lymphoma which it hopes will eliminate the need for chemotherapy and radiotherapy, both of which can have significant side effects.
Shares jumped 14.3% to 3p shortly after the opening bell.
Ultra Electronics blames MoD for profit warning
Going the other way is Ultra Electronics Holdings PLC (LON:ULE), which plunged 19.1% to £12.35 as it said revenues and profits would both miss expectations this year.
The firm, which makes equipment for soldiers, said full-year revenue will fall to £770m while underlying operating profits will dip to £120mln, largely because of the Ministry of Defence "pausing, cancelling or delaying numerous programmes".
In a separate announcement this morning, Ultra confirmed that after a "period of reflection" by its non-executives, chief executive Rakesh Sharma was stepping down.
Proactive news headlines
Caledonia Mining Corporation PLC (LON:CMCL) generated revenues of US$18mln during the third quarter of 2017 from operations at the Blanket gold mine in Zimbabwe. Pre-tax profits rang in at US$6.2mln, as costs fell and production rose.
Richland Resources Limited (LON:RLD) booked sales of US$388,000 during October, as sapphire prices continued to be depressed. However, the company now says it notes signs of recovery in the market. Its next major sale is planned for December.
Scotgold Resources Limited (LON:SGZ) is raising £2.65mln via a rights issue fully underwritten by largest shareholder Nat Le Roux. Shareholders will be offered two shares at 25p for every three held, plus a warrant exercisable at 40p for every five shares held. The money raised will be used to press ahead with the next stage of development work at the Cononish gold mine in Scotland.
Mobile payments group Bango PLC (LON:BGO) has extended its carrier billing availability for Amazon customers in Japan. Earlier this year, the company launched direct carrier billing (DCB) for Amazon shoppers, but now Prime members can pay for their subscriptions using the service as well.
Newmark Security PLC’s (LON:NWT) Grosvenor Technology subsidiary has entered into new ongoing supply agreements with WorkForce Software to provide its IT51 Linux-based workforce management terminal.
AIM-listed biopharma Amryt Pharma PLC (LON:AMYT) has signed an exclusive distribution agreement with Saudi Arabian firm Faisal Musaed El Seif Saudi Pharmaceutical Company which covers its Lojuxta and AP101 drugs.
Fertility specialist Concepta PLC (LON:CPT) said it had conditionally raised £2mln in an over-subscribed share placing and announced the formal sign-off on a £600,000 Chinese deal. The stock was sold at 7p – a modest discount to Friday’s close – and the proceeds will be used to fund its expansion in the People’s Republic, though some of the cash will be invested in new product development.
Horizonte Minerals PLC (LON:HZM) ended its latest quarter with cash of £4mln as two more major steps at its Araguaia nickel project development in Brazil were completed. Last week, the mine plan for the 28-year operation was submitted after approval of the final exploration reports.
Eco Atlantic Oil & Gas Ltd (LON:ECO) revealed it has raised £8.46mln of new capital and added Africa Oil Corp to its shareholder register. Africa Oil Corp, an explorer that’s seen significant recent success with new discoveries, has subscribed for a 19.77% stake in the company, taking 29.2mln new Eco shares priced at 29p.
Chaarat Gold Holdings Ltd (LON:CGH) said it has appointed Gordon Wylie and Dorian Nicol as non-executive directors to the board with immediate effect. The new directors bring more than 40 years mining experience to the board and will assist the management team, led by chief executive Robert Benbow, in the development of the Chaarat Gold Project.
Highlands Natural Resources PLC (LON:HNR) has revealed flow test results from the recently drilled Wildhorse and Powell wells at the East Denver project, with the two tests yielding a total rate of 637 barrels of oil equivalent per day. The measurements were taken for the 24-hour period ended 12pm on November 10, and the company highlighted that oil and gas production volumes and fluid percentages have been rising steadily.
Canadian Overseas Petroleum Limited (LON:COPL) continues to work towards an appraisal drilling programme at the OPL 226 project offshore Nigeria where work is slated for early 2018. The company said in a third quarter update that it is working with investment banks to source funds for the proposed programme and it has held talks with potential contractors and suppliers for the anticipated programme.
Nick Warrell, the chief operating officer of Sula Iron & Gold PLC (LON:SULA), has stepped down from the board with immediate effect.
PhotonStar LED Group PLC (LON:PSL), the British designer and manufacturer of smart LED lighting solutions, has awarded a total of 4,350,000 options to acquire ordinary shares of 1 pence each in the company to its employees and an adviser who provides professional services to the group.
SDX Energy Inc (LON:SDX, TSE:SDX) has announced its latest new discovery, with the KSR-15 well at the Sebou project, onshore Morocco, unearthing gas across four intervals. KSR-15 was drilled to a depth of 1,774 metres and encountered total net conventional gas pay of some 17.2 metres.