PowerHouse Energy Group PLC (LON:PHE) saw its shares lifted 7.7% to 0.48p in late-afternoon trading after it debunked speculation about the closure of Thronton Science Park where its Research and Demonstration Unit is based.
The AIM-listed hydrogen production technology company said speculation regarding the closure of the science Park was inaccurate and that a decision by the Cheshire West and Chester Council planning committee regarding planning permission at the site did no relate to its facilities and there was no foreseeable disruption to its operations.
Meanwhile, shares in Chariot Oil and Gas Limited (LON:CHAR) rose 4.3% to 8.5p after it told investors it is well-funded for what it expects to be an “exciting” year for the junior explorer.
AIM-quoted Chariot revealed earlier this week that the drilling of the Prospect S well at its Central Blocks licence offshore Namibia is slated to begin in the fourth quarter of the year and for which it is fully-funded, having raised US$16.5mln earlier in the year.
Elsewhere, Harvey Nash Group plc (LON:HVN) shares jumped 6.6% to 113p as the global technology recruitment and outsourcing group said it is tracking ahead of budget in its new financial year.
Gross profit growth in the quarter ended April 30 was up 7% year-on-year with the UK & Ireland, which accounts for 44% of gross profit, up 20% on the corresponding period of 2017, despite uncertainty in relation to the ongoing Brexit negotiations.
1.00pm: Prairie Mining jumps as it continues cooperation discussions with JSW
Prairie Mining Limited (LON:PDZ) saw its shares jump 16% to 29p in lunchtime trading after it confirmed ongoing talks regarding possible co-operation with Polish coal miner Jastrzębska Spółka Węglowa SA (JSW).
The miner said commercial discussions were at a preliminary stage and that there can be no certainty as to whether any transaction would be agreed.
Meanwhile, Oxford BioMedica PLC (LON:OXB) shares jumped 19.4% to 865p after it entered into an exclusive worldwide license agreement for its OXB-102 treatment for Parkinson’s Disease.
The FTSE SmallCap gene and cell therapy group said that under the agreement with US pharma company Axovant Sciences Ltd (NASDAQ:AXON) it would receive a US$30mln upfront payment including US$5mln as pre-payment for manufacturing activities related to OXB-102, now renamed AXO-Lenti-PD.
In the fallers, worries over cash generation and tighter regulation of plastic products sent shares in RPC Group PLC (LON:RPC) tumbling 11.5% to 684.8p.
Revenue and headline profit both rose by 36% to £3.75bn and £317mln in the year to March, but a raft of acquisitions drove the improvement with organic revenue up by a more sedate 2.8%.
Debt at the March year end was £1.14bn, while net cash flow was less than forecast at £229mln as the company upped its working capital and investment plans to accommodate the recent acquisitions.
11.00am: Autins Group shares plunge on profit and revenue warnings
Shares in Autins Group PLC (LON:AUTG) plunged 36.5% to 52p in late-morning trading after it reduced its expectations for the second half of its financial year.
The AIM-listed auto parts maker had previously said its current financial year would be weighted in the second half, however it now believed that the second half would be similar to the first as current visibility suggested lower supply levels would be required from some "major" UK customers.
As a result, Autins expected "solid" year-on-year growth but revenue for its current year would miss market expectations while profitability will be "significantly" below market expectations.
Meanwhile, Applegreen PLC (LON:APGN) saw its shares dip 1.6% to 536p after severe weather and high fuel prices squeeze its margins in the first part of 2018, although it added that trading had continued to improve on the prior year.
In a statement to be read at its annual general meeting later today, chairman Daniel Kitchen said severe weather in March had affected business across all markets for the AIM 100 forecourt retailer, particularly Ireland, while international fuel price rises impacted its margins.
In the risers, Metal Tiger PLC (LON:MTR) shares gained 1.9% to 2.6p after news it had signed a binding investment agreement to acquire up to 50% of Botswanan focused explorer Kalahari Metals Limited (KML) for a total consideration of US$1.6mln.
The AIM-listed company said it has exercised the first option under the agreement and is to be issued 18% of the enlarged share capital of KML for a total consideration of US$600,000. And the company will also appoint two non-executive directors to the board of KML.
9.00am: Empyrean Energy shares rise as it reports 31% uplift in prospective resources
Empyrean Energy PLC (LON:EME) shares were lifted 4% to 10.2p in early morning trading after it reported a 31% rise in best case gross prospective resources at its Block 29/11 offshore China.
The AIM-listed oil & gas development company said based on the results of the comprehensive processing and interpretation of final 3D seismic data, the prospective (un-risked) resources of the three major high graded prospects had been revised higher than previously reported, with gross 'Best' case prospective resources now estimated at 774mln barrels of oil on an un-risked basis.
Meanwhile, shares in FTSE 250 retailer WH Smith Plc (LON:SMWH) jumped 5.8% to 2,092p after its travel business helped to more than offset the continued fall in sales at its high street stores.
WH Smith has been shifting its focus away from the UK high street, where a host of retailers have struggled to grow sales as shoppers shift to online.
It has been gradually lowering its investment in this part of its business, adopting instead what it calls a “profit-focused strategy”. The strategy has served to push up gross margins and deliver cost savings.
Elsewhere in the FTSE 250, Serco Group PLC (LON:SRP) saw its shares jump 1.9% to 98.3p after it secured a contract from the US Department of Health and Human Services to help determine healthcare eligibility of citizens on Federal Health Insurance Exchanges.
The outsourcer said the contract with the department’s Center for Medicare & Medicaid Services (CMS) had a one-year base period and four one-year option periods, with an estimated value of around US$900mln if all option years are exercised.
In the fallers, shares in ITE Group PLC (LON:ITE) dropped 3.6% to 136p as it launched a deep discount rights issue to fund the acquisition of Ascential Events in a move to lessen its dependence on Russia.
ITE flagged the purchase last month and shareholders will be offered rights shares on a 7-4 basis at 56.2p, raising a net £265mln.
The remainder of Ascential's £300mln purchase cost will be met by debt.
Proactive news headlines:
Harvey Nash Group plc (LON:HVN), the global technology recruitment and outsourcing group, said it is tracking ahead of budget in its new financial year.
Instem Plc (LON:INS) said a Fortune 500 medical products and pharma company has adopted its Samarind Regulatory Management System. The deal is worth an initial US$750,000, with 80% of that sum being recognised this year, and brings with it recurring annual revenues of US$169,000.
Sound Energy PLC’s (LON:SOU) new drilling plans for the Tendrara-Lakbir permit have been given the environmental greenlight from the Moroccan authorities. The company, in a statement, told investors that it has secured approval for its Environmental Impact Assessment for the TE-9 and TE-10 wells.
Echo Energy Plc (LON:ECHO) told investors it has now completed the ELA-1 well, at the Laguna Los Capones project area, in the Fracción C licence area onshore Argentina. The well, drilled to a depth of 1,829 metres, encountered gas shows across a 40 metre section in the deeper Tobifera volcaniclastic target and some oil staining was also observed. Big Pic in April.
Chariot Oil and Gas Limited (LON:CHAR) has told investors it is well-funded for what it expects to be an “exciting” year for the junior explorer. AIM-quoted Chariot revealed earlier this week that the drilling of the Prospect S well at its Central Blocks licence offshore Namibia is slated to begin in the fourth quarter of the year and for which it is fully-funded having raised US$16.5mln earlier in the year.
Rose Petroleum PLC (LON:ROSE) described its past financial year as a period of “substantial progress’ as it works towards drilling its first well in Utah’s Paradox basin. The explorer’s maiden well programme is due to take place before the end of 2018.
Metal Tiger PLC (LON:MTR) has signed a binding investment agreement to acquire up to 50% of Botswanan focused explorer Kalahari Metals Limited (KML) for a total consideration of US$1.6mln.
European Metals Holdings Limited (LON:EMH) said it has begun the beneficiation process and magnetic separation of a 15 tonne bulk sample of ore from its Cinovec Lithium/Tin project in the Czech Republic.
StatPro Group PLC (LON:SOG), the portfolio analytics provider, has announced a strategic partnership with Broadridge Financial Solutions Inc (NYSE:BR).
Cadence Minerals Plc (LON:KDNC (OTC:KDNCY) reported that its investee company Macarthur Minerals Limited (TSX-V:MMS) has completed a heliborne SkyTEM electromagnetic survey programme targeting gold and copper at its Hillside Gold Project in the Pilbara region of Western Australia, to define high priority targets from conductors such as clusters of massive sulphide-hosted base metal deposits at depth. Cadence has a 15.2% equity interest in Macarthur.
NetScientific PLC (LON:NSCI) has announced that its portfolio company Vortex Biosciences has appointed Bob Englert as new chief executive officer. The healthcare IP commercialisation group said Bob Englert, who is currently chief technology officer, takes up the position with immediate effect, replacing Gene Walther, who has resigned to pursue other interests.
Berkeley Energia Limited (LON:BKY) shares have made their debut on the main board of the London Stock Exchange today. The uranium miner has also received confirmation from Spanish authorities that its shares will be admitted to the Madrid, Valencia, Bilbao and Barcelona stock exchanges in the near future.
Bluejay Mining PLC (LON:JAY) has announced the appointment of Garth Palmer as non-executive director with immediate effect. The group noted that Palmer, who has served as the company secretary to Bluejay for the last six years, is a Chartered Accountant with more than 15 years' experience and is also a director of AIM listed SigmaRoc PLC (LON:SRC). Bluejay also announced that Greg Kuenzel has stepped down as a non-executive director from today to focus on his other business interests.
Papua Mining PLC (LON:PML) has announced the appointment of Gordon Hart as a non-executive cirector of the company, effective immediately. The group said Hart has over 35 years of experience in the equity capital and financial advisory markets, spending the last 12 years as managing director of Venture Group Equities Pty. Ltd.
Eckoh PLC (LON:ECK), the global provider of secure payment products and customer contact solutions, has appointed Canaccord Genuity Limited as its joint corporate broker with immediate effect, to act alongside N+1 Singer, who remain the company's nominated adviser and joint corporate broker, and Berenberg who remain its joint corporate broker.