BTG PLC (LON:BTG) shares fell 8.9% to 603.0p as the healthcare company swung to lower sales and slower than expected market development of PneumRx Coils, a treatment for severe emphysema.
The company said for the year ended March 31, pre-tax loss was £70.6mln, compared to £31.6mln a year ago, while revenue was £620.5 compared to £570.5mln.
Meanwhile, Mycelx Technologies (LON:MYX) shares jumped 20.45 to 132.50p as the clean water technology company reported narrowed loss and growth in revenue in 2017, and said its revenue growth exceeded its expectations.
The company said its pre-tax loss narrowed to US$831,000 from US$3.1mln a year ago, while revenue rose to Us413.7mln from US47.9mln.
And Baron Oil (LON:BOIL) shares rose 9% to 0.54p as the company announced it has entered into a letter of intent (LOI) for the provision of a jack-up rig to drill the Colter and Wick wells with UK based drilling contractor Ensco U.K Ltd.
“Within the LOI the parties have agreed, subject to approvals and consents, headline terms for a suitable unit to conduct drilling operations in a third or fourth quarter of 2018, " the company said.
1.30pm: GAN shares rise as it welcomes legalization of US Internet Sports Betting
GAN PLC (LON:GAN) shares jumped 14.7% as the company welcomed the decision of the Supreme Court of the United States to overturn the previous Federal US prohibition on sports betting.
The company confirmed it is preparing to launch internet sports betting in both New Jersey and Pennsylvania for its clients in the second quarter.
Northgate Plc (LON:NTG) shares jumped 10.7% to 416.2p after the commercial vehicle hire firm highlighted a return to growth in the UK market.
In a trading update for the three months ended April 30, the company said it performed in line with management's expectations.
It said that in the UK vehicle on hire (VOH) volumes had increase by 3.2% year-on-year to 40,900 – which was ahead of guidance which was previously given as ‘broadly flat’.
Shares in Lookers PLC (LON:LOOK) rose 9% to 108.2p on Tuesday as the car dealership reported a solid start to 2018 despite falling demand for new cars.
The widespread introduction of car leasing deals a few years ago prompted a sharp rise in the number of new cars being sold in the UK.
But the figures have tapered off over the past year or so, driven by “subdued consumer confidence” as well as concerns over the environmental impact of some diesel cars.
11am: Velocys PLC shares fall as a leak has been detected inside one of the plant's two Fischer-Tropsch reactors
Velocys PLC (LON:VLS) shares fell 20.3% to 13.40p as the renewable fuels company announced that it has been informed by ENVIA Energy that a leak has been detected that is believed to have originated inside one of the plant’s two Fischer-Tropsch reactors.
The company said until the issue has been remedied, the aim will be to operate the Oklahoma City plant using one reactor. It is unlikely that the plant will become cash flow positive on the second quarter of 2018 as previously expected.
The People's Operator (LON:TPOP) shares collapsed 47% to 0.02p on Tuesday after the virtual network operator told investors that its new subscriber additions will not achieve anticipated levels needed for its current marketing plan.
An alternative strategy will now be needed, the company explained.
It also noted that, based on the current share price, there is “little likelihood” that existing share warrants will be exercised and, as a result, the company now expects that it will require additional capital.
Sprue Aegis PLC (LON:SPRP) shares fell 26.4% to 97.5p as the company warned that its dispute with Newell Brands’ BRK had cost £3.8mln to settle while current trading is well below expectations.
The home safety products group said revenues in 2017 fell to £54.3mln (£57.1mln) while pre-tax profits dropped to £545,000 from £1.57mln.
Meanwhile revenues in 2018 are 20% below the first four months a year ago due to lower sales in Germany, with additional disruption from a new manufacturing plant in Poland.
9.20am: Serabi Gold shares jump as it reports increase in revenue
Serabi Gold PLC (LON:SRB) shares jumped 8.7% to 3.75p in early morning trading as the miner reported increased revenues and profits for the three months to 31 March 2018.
The AIM-listed firm said its revenue grew to US$13.8mln, up from US$13.2mln a year earlier, while gross profit from operations was US$2.3mln, up from US$1.3mln.
The company said it expects gold production for 2018 to exceed that for 2017 and be up to 40,000 ounces.
Lakehouse PLC (LON:LAKE) shares rose 5% to 41.5p as the company announced the award of a contract through the Welsh Government Warm Homes programme, worth up to £55mln over an initial three-year term, with the potential for a two-year extension.
The housing services company said the programme is an area-based scheme which will target improvements to over 6,000 homes in areas throughout Wales where households are more likely to be living in severe fuel poverty.
And easyJet PLC (LON:EZJ) shares gained 2.9% to 1,733.50p as the discount airline reported some of its ‘best results ever in the winter trading period’, with revenues for its first half topping £2bn.
The FTSE 100 firm also reported a narrowed seasonal pre-tax loss of £68mln, up from a £236mln loss last year, while revenues climbed to £2.18bn, up from £1.83bn previously.
Proactive news headlines:
Tech recruiter Harvey Nash PLC (LON:HVN) has acquired eMenka, a Belgium-based Microsoft specialist. Based near Antwerp, eMenka focuses on placing Microsoft specialists both in full-time employee and independent contractor roles.
Symphony Environmental Technologies PLC (LON:SYM) has upped its marketing expenditure ahead of an expected increase in orders for 2018. The AIM-listed plastics manufacturer reported in a trading update that revenues had increased 17% in the first four months of the year when compared to the same period a year ago.
Genedrive PLC (LON:GDR) is set to pocket up to £1.9mln in cash through the sale of its contract research and pharmacogenomics divisions.
Frontier IP Group PLC (LON:FIPP) has announced that Palintest Ltd, a subsidiary of FTSE 100 group Halma PLC (LON:HLMA), is launching Siren BW, a water testing kit developed by a portfolio company Molendotech Ltd, a spin out from the University of Plymouth. The AIM-listed intellectual property firm said it is the first commercial application for Molendotech’s novel test able to identify the concentration of faecal bacteria in water.
APQ Global PLC (LON:APQ), an investment company focused on emerging markets, has set up an innovative new network aimed at harnessing the potential of up and coming businesses in its spheres of interest. "The partner companies represent an additional growth opportunity for APQ Global, which has the right of first refusal to participate in any of their future capital raises," it said.
Mobile app distribution platform AppScatter Group PLC (LON:APPS) has launched a scanning service to highlight security weaknesses and to comply with GDPR regulations. The service enables appScatter platform users to address any potential security issues during their app maintenance programme. Existing and new customers can use the service for an additional subscription fee.
Higher commodity prices helped royalty company Anglo Pacific Group PLC (LON:APF) get off to a solid start in 2018. Royalty income from the Kestrel coal mine and other projects totalled £7.9mln in the opening three months of the year, in line with the £8.2mln generated in the same period of 2017, which was a record year for the company.
United Oil & Gas PLC (LON:UOG) today highlighted that partner Corallian Energy now has an agreement for a rig for the upcoming Colter well, off England’s south coast. A letter of intent has been signed with Ensco UK which, subject to approvals, sees drilling taking place during the third and/or fourth quarters of this year.
Union Jack Oil PLC (LON:UJO) has acquired a stake in two potential UK shale projects, with a minimal upfront investment. The company and its investment partner Humber Oil & Gas Limited have agreed to each acquire 16.25% in the PEDL201 licence, in the ‘Widmerpool Gulf’, as well as 12.5% stake in the PEDL181 asset in the Humber basin.
Falcon Oil & Gas Ltd’s (LON:FOG) partner at the Beetaloo basin shale gas project in Australia’s Northern Territory has identified four additional potential plays. At an oil and gas conference in Adelaide, Origin Energy said initial indications are that each of them is a “material multi-TCF” [trillion cubic feet] play.
“For us, this is a big game-changer,” says Nick von Schirnding of Arc Minerals Ltd (LON:ARCM). Arc has just moved to acquire an additional 35% of Zamsort Ltd, a company that controls the Kalaba copper-cobalt project in Zambia. Combined with a convertible loan note for 5% more, that takes Arc’s total holding to 54%, and it could go higher if further purchases took place.
KEFI Minerals PLC (LON:KEFI) has been in communication with all Ethiopian government offices dealing with the Tulu Kapi Gold Project in the Federal and Oromia Regional Governments to welcome new appointments of state ministers.
Base Resources Limited (LON:BSE) has appointed partners to deliver the pre-feasibility study (PFS) for its Toliara mineral sands project in the south-west of Madagascar. The AIM-listed miner said it had appointed Mineral Technologies and Lycopodium, which had strategically aligned to bring their project delivery skills to support the delivery of the PFS, having previously undertaken studies and projects in mineral sands, including previous work on the Toliara project.