One Media IP Group PLC (LON:OMIP) topped the London market gainers in late afternoon trading, leaping almost 53% higher to 6.5p on news, Michael Grade, the media executive who has chaired both the BBC and ITV, has invested in the music rights holder.
Grade has teamed up with Ivan Dunleavy, former chief executive of Pinewood Studios - which Grade has also chaired - to take a stake in OMIP, spending £375,000 in total via a subscription for 7.5mln One Media IP ordinary shares, giving each a holding of 8.715% in the company.
Both Grade and Dunleavy will also join the One Media IP board as non-executive directors.
Meanwhile, shares in Stanley Gibbons Group PLC (LON:SGI) were up 15% to 4.75p, although the stamp and coin collecting firm, noting the jump in its share price, said it knows of "no reason" for the movement.
In a statement, the company added that it remains in talks with its bank and other parties on its ongoing financing requirements, and said that it remains " in default under its banking facilities and is therefore reliant on the bank's support".
And Savannah Resources Plc (LON:SAV) gained over 6% at 6.5p after it said it has established a maiden resource of 3.2mln tonnes of ore grading 1% lithium oxide at the Reservatorio deposit in Portugal.
The deposit is one of three targets currently being advanced as part of the ongoing exploration and development programme for the Mina do Barroso lithium project.
11.35am: Earthport drops on revenue warning
Earthport plc (LON:EPO) dropped 31% to 10p after the cross-border payments firm said revenue for its current financial year is expected to be 10% to 15% below current market expectations.
The group said the lower revenue is expected due to contract delays and a recent contract change at an existing customer.
The company, however, still expects its underlying earnings (EDITDA) for the year ending June 30, 2018, to be broadly in line with current market forecasts.
Meanwhile, AudioBoom Group PLC (LON:BOOM) saw its shares in shed 16.5% to 2.78p said it still expects to record an adjusted loss for 2017 despite strong growth in revenue, audience and advertising figures.
For the year ended November 30, the podcast platform provider said it anticipates revenue to "exceed" £4.8mln, up from £1.3mln a year earlier, but added that its underlying earnings (EBITDA) is expected to be a £4.5mln, only a slight narrowing from a £4.6mln loss in 2016..
The AIM-listed firm said expectations are for further substantial growth in revenues and much improved EBITDA performance during the coming year.
And Nektan PLC (LON:NKTN) lost 13.7% at 22.00p after the international gaming solutions provider said it had raised gross proceeds of approximately £1.76mln via a placing and a subscription of new shares.
The company placed 5,095,243 new ordinary shares at a price of 21p each, and a further 3,283,496 new ordinary shares were subscribed for at the same price.
10.35am: Croma Security soars after announcing largest ever contract win
Croma Security Solutions Group PLC (LON:CSSG) topped the London market gainers in mid-morning trading, soaring 53% higher to 96.5p after the security firm announced their largest ever contract win.
The contract with a "major" UK local authority for a range of security services lasts for six years and is worth £27.0mln in total.
Croma’s chairman Sebastian Morley said: "This contract award is extremely significant and is the largest that the group has won to date. It is a testament to the unique offering that Croma Vigilant brings to the market.”
Elsewhere, shares in ValiRx PLC (LON:VAL) jumped 22.7% higher to 6.75p after its chief executive Dr Satu Vainikka said the company was entering a “new and exciting phase” after being given the go-ahead by regulators to expand and accelerate its early-stage cancer study.
The Medicines and Healthcare Regulator Agency and Research Ethics Committee is allowing the researchers to substantially raise the dosing of VAL201, a treatment for metastatic prostate cancer and other solid tumours.
And PowerHouse Energy Group PLC (LON:PHE) took on 17.2% at 0.75p after the alternative energy firm said it has identified a site for its first commercial distributed modular gasification (DMG) system.
The company has signed a heads of terms agreement with Peel Environmental for a 25-year lease on a one-acre site conveniently located near the University of Chester’s Thornton Science Park where the PowerHouse G3-UHt research demonstrator is operating.
9.45am: Spreadbetters blighted by regulatory moves
Shares in spreadbetting firms were under pressure in early trading today in London, with IG Group PLC (LON:IGG) dropping 9% to 664.5p, CMC Markets PLC (LON:CMC) shedding 11.6% to 148.25p, and Plus500 Limited (LON:PLUS) plunging 14.3% lower to 793p after the European Union's securities watchdog proposed curbs on core parts of their markets.
The ESMA are suggesting prohibiting the sale and marketing of binary options and restricting the sale and marketing of contracts for difference (CFDs).
Furthermore, the European regulator is suggesting limiting leverage to between 30:1 and 5:1 depending on volatility, and they also suggest a margin close-out rule, protection against negative balances, restrictions on inducement to trade and a standardised risk warning.
In a note to clients, analysts at Numis Securities commented: “A combination of a brief consultation in January and suggesting that they are considering using their intervention powers under article 40 of MiFIR mean that we believe that this is effectively a done deal and the FCA also seems to be endorsing the proposals.”
They added: “While we lack detail the proposals appear more stringent than the previous FCA suggested remedies. This, combined with the likely pan-European impact, mean that our forecasts will almost certainly fall once the detail is known.
The Numis analysts downgraded their rating for IG to ‘hold’ from ‘add’ although they noted that the firm is “by far the best placed to absorb the impact which we expect to be fatal for a number of their competitors.”
They reiterated a ‘sell’ rating on CMC shares.
Proactive news headlines:
ValiRx PLC (LON:VAL) chief executive Dr Satu Vainikka said the company was entering a “new and exciting phase” after being given the go ahead by regulators to expand and accelerate its early-stage cancer study. The Medicines and Healthcare Regulator Agency and Research Ethics Committee are allowing the researchers to substantially raise the dosing of VAL201, a treatment for metastatic prostate cancer and other solid tumours.
PowerHouse Energy Group PLC (LON:PHE) has identified a site for its first commercial distributed modular gasification system, not far from the University of Chester’s Thornton Science Park where the PowerHouse G3-UHt research demonstrator is operating.
Chaarat Gold Holdings Limited (LON:CGH) is raising US$20mln through a combination of equity and loan notes. Commitments have already been secured for US$15mln of the raise. The money will be used to continue development work on the Tulkubash heap leach project in Kyrgyzstan.
Kibo Mining PLC (LON:KIBO) has held high-level talks with the Tanzanian government regarding the future of the Mbeya coal-to-power project. It expects to sign a power purchase agreement with local electricity giant TANESCO shortly.
Vast Resources PLC (LON:VAST) has announced the resignation of Roy Pitchford from his position as chief executive. It comes as the company transitions to focus more on its mining operations in Romania, which it is developing polymetallic open-pits, and Pitchford’s role is now being taken up by Andrew Prelea, who is president of the Romanian subsidiary.
Echo Energy PLC (LON:ECHO) shares are to resume trading on London’s AIM market at 8:00 am this morning, following the release of an admission document regarding the proposed acquisition of assets in Argentina. The acquisition comes with an equity sale, with nearly 48mln new shares being issued to investors at a price of 17.5p. A general meeting of shareholders will now be convened in London on January 3.
Gfinity PLC (AIM:GFIN), a leading international esports entertainment group, has made its first major signing for the Elite Series season three in March.
Aircraft leasing company Avation PLC (LON:AVAP) has acquired and delivered into service a new Boeing 777-300ER commercial passenger aircraft.
Savannah Resources PLC (LON:SAV) has delivered a maiden resource of 3.2mln tonnes of ore grading 1% lithium oxide at its Mina do Barroso deposit in Portugal. Drilling continues, and a maiden resource for a neighbouring deposit is expected early next year.
Shefa Yamim A.T.M Limited (LON:SEFA), a minerals company focused on the exploration for precious stones in Northern Israel, started trading on the London Stock Exchange’s official list today, following a placing and subscription at 110p per ordinary share. In early trading, Shefa Yamim’s shares were holding steady at 110p each.
Active Energy Group PLC (LON:AEG), the international biomass based renewable energy and forestry management business, has announced that its chief executive officer Richard Spinks has increased his holding in the company to 52,105,333 ordinary shares, or 6.013% of the voting share capital following the exercise of options and warrants for the issue of ordinary shares at a price of 1.25p each. The group said the option and the warrant exercise raised £521,666, with the proceeds being utilised, in particular, to capitalise on the commercial activities of Active Energy.
Solo Oil PLC (LON:SOLO), the natural resources investment company today announced the retirement of Fergus Jenkins as executive technical director of the Company. The group said Jenkins is stepping down to pursue other business interests but will remain as a non-executive director of Solo for the next 6 months.
Collagen Solutions PLC (LON:COS), the developer and manufacturer of medical grade collagen and tissue components, has announced the appointment of Chris Brinsmead as a non-executive director of the company. The firm said Brinsmead has worked in the pharmaceutical industry for over 30 years, holding executive leadership roles within ICI and AstraZeneca.
e-therapeutics PLC (LON:ETX), the computer-based drug discovery platform company, announces that it has received notifications from each of its directors that they have purchased, in aggregate, 670,000 shares in the company at a price of 8.9p per share. The purchases took place on 15 December 2017.