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Proactive news snapshot: Instem, Harvest Minerals, MySQUAR …

A glance at some of the day's highlights from the Proactive Investors newswire

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Instem Plc (LON:INS) will see a rise in revenue after one of its clients, one of the world’s largest chemical products companies, chose to adopt Instem’s Software-as-a-Service (SaaS) delivery model.

Harvest Minerals Ltd (LON:HMI) has signed a major sales order with Agrocerrado Produtos Agricolas e Assistencia Tecnica LTDA, a fertiliser distributor in Brazil, and said additional discussions regarding sales are on-going.

MySQUAR Ltd (LON:MYSQ), the Myanmar-language social media, entertainment and payments platform, is to raise £2.11mln through the issue of unsecured convertible bonds to fund a potential acquisition.

Sound Energy PLC (LON:SOU) told investors that the completion date for the sale of its Italian assets to Saffron Energy has moved to April 9. Saffron (which is due to be renamed Coro Energy) is due to hold a shareholder general meeting on March 29 in order to secure approval for the proposed transaction and other changes including its £13.4mln equity funding.

Allergy Therapeutics plc (LON:AGY) made further market share gains as it headed into a ‘pivotal’ twelve months. Interim revenues at the hay fever vaccine specialist rose by 4% to £42.2mln despite the pollen season being described as ‘abnormally weak’.

Over the top TV software specialist Mirada Plc (LON:MIRA) has arranged a new loan facility with major shareholder Ernesto Tinajero. The facility, for US$3mln, is repayable in a year’s time and charges interest of 15% on funds drawn.

In its full year results AFC Energy plc (LON:AFC) chief executive Adam Bond told investors that the fuel cell company completed its three-year plan as promised. “The funding put in place early in 2017 allowed us to enhance the 10kW fuel cell system design to support scaling-up of this modular design basis, complete technical milestones to deliver the longevity and reliability required for power plant application and develop the strategic partnerships to underpin the future commercial manufacturing and supply of fuel cells,” Bond said.

Jubilee Metals Group PLC (LON:JLP) turned a profit before non-cash operating expenses and interest in the second half of 2017.

Horizonte Minerals Plc (LON:HZM, TSE:HZM) has issued its first quarter interim update which provides commentary around the mine developer’s recent progress, including its successful funding and latest acquisition. It raised £9.2mln in January, leaving the company fully funded for two years – a period in which it plans to deliver work programmes at the flagship Araguaia project and the newly acquired Vermelho project.

Wolf Minerals Ltd. (LON:WLFE) latest interim results statement reveals a narrowed loss, thanks in part to higher revenues generated by its tungsten mine in Devon. Revenue improved to £23.12mln for the period, up from £10.93 in the same period in 2016, though cost of sales rose also to £42.72mln from £39.27mln.

Summit Therapeutics PLC (NASDAQ:SMMT, LON:SUMM) has opened enrolment in a planned additional group in its Phase 2 open-label clinical trial called PhaseOut DMD. Enrolment is open to patients who participated in Phase 1 clinical trials of ezutromid but who did not meet the entry criteria for the main PhaseOut DMD cohorts.

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