logo-loader

LiDCO Group shares fall as it ends third party UK distribution agreement

A look at some of the biggest risers and fallers in London on Tuesday

Blood Pressure monitoring
LiDCO Group said the distribution contract would end on 30 September 2018

LiDCO Group plc (LON:LID) saw its shares drop 7.5% in mid-afternoon trading to 6.1p after announcing the end of its distribution contract with Argon Medical Devices.

The blood-flow monitoring company said the contract, which contributed £1.4mln to LiDCO’s overall sales in the last financial year, would end on 30 September 2018.

Meanwhile, shares in GetBusy Plc (LON:GETB) fell 6.8% to 34p as the software developer reported a wider loss in its full-year results.

The company reported a pre-tax loss of £2.1mln for the year, larger than the £1.9mln loss the year before. Revenue was up 20% to £9.3mln, comprised mainly of recurring subscriptions.

Elsewhere, Sirius Real Estate Limited (LON:SRE) shares dropped 9.6% to 62p as the company said it intends to raise £35mln through a share placing.

The company said the funds would be used to acquire a portfolio of assets, with the issue price to be agreed at the end of the book-build. If all shares are placed, it is expected to represent 6% of the company’s existing share capital.

In other developments, Falcon Media House Limited (LON:FAL) saw shares plummet 33% to 3.7p as it said it was yet to receive a £750,000 payment from a shareholder.

The digital media group said it was working with the shareholder to try and clarify its position but it could not confirm at this time whether the committed funds would be received.

12:25pm: Mincon Group PLC shares jump as it completes acquisition of Driconeq AB

Mincon Group PLC (LON:MCON) shares jumped 9% in lunchtime trading to 113.5p as the company completed its acquisition of Driconeq AB. 

The drilling tool manufacturer said total costs for the transaction were SEK81mln.

Meanwhile, Milestone Group PLC (LON:MSG) saw its shares leap 9% to 0.12p as it said it had raised £250,000 through the issue of shares and a convertible loan note.

The digital media and tech firm said it was issuing 96.7mln shares at a price of 0.15p each to raise £145,000 and is settling an existing creditor balance of £30,000 by issuing 20mln further shares.

It also raised £105,000 via an unsecured convertible loan note, which will convert into 70mln shares, also at a price of 0.15p each.

In other news, EnQuest PLC (LON:ENQ) saw its shares rise 6% to 33p as the company guided for sharp production increases in 2018.

The oil and gas company said it expected production in 2018 of between 50,000-58,000 barrels of oil equivalent per day as it ramps up certain projects.

10:45am: NAHL shares slide after disappointing full-year results

Consumer marketing provider NAHL Group plc (LON:NAH) saw its shares slide 13% to 148.5p in mid-morning trading after a disappointing set of full-year results saw pre-tax profits decline to £12.4mln from £15.8mln the previous year.

The company also cut its final dividend to 10.6p, down from 12.7p the year before.

Meanwhile, Katoro Gold PLC (LON:KAT) saw its shares plunge 19% to 1.05p after suspending all ongoing feasibility work at its Imweru project in Tanzania.

Work will remain suspended until a final decision on the economic viability of the project has been reached, sometime by the end of the second quarter or the early third quarter of 2018.

And shares in banknote security provider De La Rue plc (LON:DLAR) dropped 13% to 521p as the banknote printer snaked a one-line profit warning into news of the resignation of its chief financial officer, Jitesh Sodha.

Sodha resigned with immediate effect but will remain with the company until the end of September to ensure an orderly transition, the company said.

9.30am: Pennant International shares spike as UK contract value increases

Pennant International Group PLC (LON:PEN) shares spiked 16% higher in early morning trading to 96.5p after good news from the Middle East.

The training and support solutions provider has received a potential £10mln order from a Middle East customer and expects to know by the end of June whether this will turn into a firm order.

In the UK, there was more good news on a major contract that had been delayed while the scope of the project was revised. As a result of additional work now required by the customer, the value of the contract has risen by £3.5mln to around £12mln.

Meanwhile, RedT Energy PLC (LON:RED) shares jumped 5.4% to 6.8p as the company said it had been selected as a storage technology partner for a large-scale tidal generation project in the UK.

The project is planned to be fulfilled by RedT’s 3(rd) Generation product, to be delivered in 2018, and aligns with the company’s corporate strategy of expanding into large projects by 2019.

Elsewhere, shares in Amur Minerals Corp (LON:AMC) shot up 23% to 5.7p after the company said it had seen a 50% mineral resource increase at its Kun-Manie project.

The exploration and development company said the global Kun-Manie resource now stood at 155.1mln ore tonnes with a nickel equivalent grade of 1.02%

Other Proactive news headlines:

Strategic Minerals Plc (LON:SML) has doubled the inferred resource at its Redmoor project in the UK to 4.5mln tonnes of ore grading 1% tin equivalent. The strike length is now around a kilometre, and the mineralisation remains open at depth.

Bloomsbury Publishing PLC (LON:BMY) saw its shares jump nearly 10% higher on Tuesday after the book firm said that it expects its revenues to be ‘slightly ahead’ of expectations and profits to be ‘well ahead’ of expectations for the year ended 28 February 2018.

Hurricane Energy PLC (LON:HUR) revealed that it has received key long lead items for the Lancaster field’s early production system. TechnipFMC delivered two horizontal Xmas tree systems as well as the control system for the floating production storage and offloading (FPSO) vessel.

Union Jack Oil PLC (LON:UJO) has confirmed the acquisition of a 10% stake in the Biscathorpe project, in the South Humber basin, onshore UK. The deal, which remains subject to regulatory approval, sees Union Jack increase its stake in the project to 22%.

Medical diagnostics group Genedrive PLC (LON:GDR) saw diagnostics revenue rise 8.3% year-on-year in the second half of calendar 2017. The company’s hepatitis C virus (HCV) ID kit, which was launched in October 2017, is rapidly becoming available in target countries, the group said in its interim results statement.

Aggregated Micro Power Holdings plc (LON:AMPH) revenue this year will be £40mln, a third higher than previously forecast. Recent positive trading during this winter season was cited as the reason for the uplift in sales, with fuel demand likely to have risen steeply with the recent UK cold snaps.

Ceres Power Holdings PLC (LON:CWR) saw revenue and other operating income practically double in the first half and expects this trend to continue for the remainder of the current financial year. In the six months to the end of December, the top line shot up to £3.08mln from £1.55mln in the corresponding period of 2016.

Motif Bio Plc (LON:MTFB, NASDAQ:MTFB) said it wanted to make the strongest possible submission to the US regulator as it confirmed it would take some additional time over the new drug application (NDA) for iclaprim. The next-generation antibiotic has been developed initially to treat acute bacterial skin and skin structure infections and has successfully negotiated two phase III clinical trials.

Drug developer ValiRx Plc (LON:VAL) has been granted a US patent over technology at the heart of its lead cancer compound VAL 201 The protection covers the molecule and a “wide variety of derivatives, modifications and analogues of the compounds and their mode of action”.

Shefa Yamim (ATM) Limited (LON:SEFA) has announced the results from three bulk samples, part of a fourteen bulk sample exploration campaign to determine a resource estimate for heavy minerals in Zone 1 at its Kishon Mid-Reach project.

Katoro Gold PLC (LON:KAT) is reassessing the economic viability of its Imweru gold project in Tanzania in the light of new mining legislation. Katoro will engage with the relevant Tanzanian government departments and also revisit the numbers in the already completed pre-feasibility study. For the time being all feasibility work is suspended. Katoro will also seek to diversify its portfolio.

BlueRock Diamonds PLC (LON:BRD) announced after the close on Monday that it has raised approximately £500,000 via a placing and subscription for 33,333,333 ordinary shares at a price of 1.5p each. The group added that each new placing share will also be accompanied by a warrant to subscribe for a further new share at a price of 3p each. In early morning trading, BlueRock shares were trading at 1.75p, down 5% on Monday's closing price.

Scotgold Resources PLC (LON:SGZ) has amended the terms of a £1mln loan provided by its chairman and major shareholder Nat le Roux. Under the new terms the repayment date is extended to September 2018, and the coupon has been revised down to 0%.

Bacanora Minerals Ltd (LON:BCN) (TSX-V:BCN) announced that, at the annual and special meeting of the lithium company held in Canada on 19 March 2018, all resolutions were duly passed, including the resolution to approve the proposed re-domicile of the company to the UK. As a result, the group said the last day of trading for its shares on Canada’s TSX Venture Exchange is expected to be 23 March 2018, with the new Bacanora Lithium PLC shares expected to be admitted to trading on AIM on 26 March 2018.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Strategic Minerals PLC named herein, including the promotion by the Company of Strategic Minerals PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: KRM22 expands product offerings with deltaconX partnership,...

KRM22 PLC (LON:KRM) CEO Keith Todd stopped by the Proactive New York studio to talk about how the risk management group has signed a new partnership deal, and raised fresh capital. Todd says the company's new partnership with deltaconX simplifies regulatory reporting through its Global Risk...

50 minutes ago

9 min read