LPA Group Plc (LON:LPA) shares fell 25.5%, to 119.5p, following interim financial results which showed revenues and profits rise significantly, but, cautioned that the medium term “maybe more challenging.”
An equity fund raising saw Zenith Energy Ltd (LON:ZEN) shares were 14.85% lower, changing hands at 4.06p. The Azerbaijan oil and gas firm raised £2.16mln.
Akers Biosciences Inc (LON:AKR) was down 10.17%, at 26.5p, as the medical test group issued a statement regarding a class action against the company.
11:00am: Dalradian Resources, Greatland Gold and Echo Energy shares soar
Dalradian Resources Inc (LON:DALR) soared 27.75p or 52%, to 81p, after revealing that it had agreed to be taken over by private equity firm Orion Mine Finance in a deal that values the Canadian miner at C$437mln.
Orion, which currently holds a 20.4% stake in Dalradian, will buy the rest of the shares that it does not already own.
Explorer Greatland Gold PLC (LON:GGP) was another major riser, up 59% at 1.13p, as it said that multiple gold nuggets and gold pieces were discovered in bedrock in the maiden field programme at the Black Hills project, in Western Australia.
Trakm8 Holdings PLC (LON:TRAK), up 10.8% to 107p, announced a new international contract award to supply Intelematics Australia with telematics-based services.
9:30am: Echo Energy a stand-out riser in Thursday’s early deals
Echo Energy PLC (LON:ECHO) shares shot up as much as 25% in Thursday’s opening deals and remained sharply higher as it announced what could be a significant new discovery in Argentina.
The Argentina-focused exploration company, in a statement, said that a “significant light oil column” was encountered in its third well in a four-well programme.
Interpretation of well data identified a possible 500-metre section which, if confirmed by further tests, could “significantly open up the play for the area”.
READ: Thursday’s FTSE 100 market report
Echo shares were up 2.3p or 17%, changing hands at 14.62p.
In the main market, Dixons Carphone PLC (LON:DC) was up 3.94p or 2% at 194.69p despite posting a 24% drop in annual pre-tax profit on Thursday and warned that it will take time to turn around the business.
The share price positivity has to be taken in the context of the retailer’s recent profit warning.
“Last month’s profit warning may have removed some of the sting, but these numbers nonetheless make for some fairly grim reading,” said Richard Hunter, head of markets at Interactive Investor.
“All is not lost, however. As the group maintained some of its market leading positions, overall revenue edged up, there was a reduction in net debt and the Nordics region made a strong contribution.”
Defence engineering firm Chemring Group PLC (LON:CHG), up 1% at 219.3p, remains confident of a positive full-year outcome after a surge in profits in the first half of the year.
Other Proactive news headlines:
OptiBiotix Health PLC (LON:OPTI) has signed a license agreement to commercialise food supplements containing its LPLDL strain in the Italian market.
Solo Oil PLC’s (LON:SOLO) part owned Tanzania specialist gas business Helium One has raised US$2mln in a pre-IPO funding round. The capital injection was supported by investors from Australia, Asia and Africa.
App monitoring service AppScatter Group PLC (LON:APPS) has raised just over £3mln at a significant premium to last night’s closing price. The fundraise is unusual because most companies, particularly those on AIM, will generally raise money at a discount.
Highlands Natural Resources PLC (LON:HNR) has reported “significant flow rates” from the Barret 1-14b well at its Kansas nitrogen project.
SDX Energy Inc (LON:SDX, CVE:SDX) has spelt out a number of key details from its largely successful recent operations in Egypt and Morocco, ahead of an event at which it will be presenting to sell-side and industry analysts. Importantly, the growing oil and gas producer highlighted a positive record – three successful wells out of four in Egypt, and, seven successes out of nine wells in Morocco.
Horizonte Minerals PLC (LON:HZM, TSE:HZM) has announced that it has completed the aero survey for the powerline and awarded contracts for Araguaia ferronickel project to the leading Brazilian consultants.
Bluebird Merchant Ventures Ltd (LON:BMW) has announced it has received ‘excellent’ results from vat leach metallurgical test work conducted on an ore sample from Adit 4 at the Gubong mine in South Korea.
Medical devices maker Tissue Regenix Group PLC (LON:TRX) has won an award at an industry conference over in the United States. Group purchasing organisation Premier awarded Tissue the Supplier Horizon award, which recognises suppliers that have been contracted with Premier for less than three years for exceptional local customer service and engagement, value creation through clinical excellence and commitment to lower costs.
Taptica PLC (LON:TAP), a global leader in advertising technologies for performance-based mobile marketing and brand advertising, is hosting a Capital Markets Day in London today. The group said no material price-sensitive information will be disclosed and no new information relating to current trading will be provided.
Silence Therapeutics PLC (LON:SLN) has made two key appointments that will respectively strengthen the board and the business. Dave Lemus, currently chief operating officer and chief financial officer of Proteros Biostructures, has been appointed an independent director.
Alba Mineral Resources PLC (LON:ALBA), the diversified mineral exploration and development company, announced the appointment with immediate effect of Feroz Sultan as Alba's Technical Director - Oil & Gas. This follows the announcement on 9 April that Sultan had joined Alba as a special adviser in relation to the company's oil investments.
Eland Oil & Gas PLC (LON:ELA), the oil & gas production and development company operating in West Africa with an initial focus on Nigeria, has confirmed the appointment of Nicholas Gay as a non-executive director of the company effective from 22 June 2018.