McKay Securities PLC (LON:MCKS) shares jumped 3.4% to 271.00p as the company recommended a 14% increase in the final dividend, after an “exceptionally productive year.”
In a trading update for the quarter to 30 June 2018, the company reported a record year of lettings, with focus on office and industrial property within London and the South East which continues to drive the group’s growth.
Connemara Mining Company PLC (LON:CON) saw its shares rise as it announced the commencement of a new drill programme at the Oldcastle Zinc project located in the counties of Cavan and Meath in Ireland.
The AIM-listed firm said the costs of the drilling programme will be borne by joint venture partner and operator Teck Ireland Ltd, which has the option to increase its interest in the project to 75% from 65%.
Koovs PLC (LON:KOOV) saw its shares rocket 22.5% 22.50p after Future Lifestyle Fashions Limited (FLFL) agreed to purchase up to a 29.9% stake in the company.
The AIM-listed India focused online fashion retailer said it would issue FLFL with 57,876,600 new ordinary shares at a price of 10p per share, a 45.5% discount on its last close price of 18.3p, to raise around £5.78mln
1.10pm: Distil rises as spirits maker reports increase in revenue and volumes
Distil PLC (LON:DIS) shares were up 8% to 2.32p in early afternoon trading as the maker of Blackwoods Gin and Blavod Black Vodka said its revenues increased by 27% in the first quarter, while volumes increased by 21%.
The AIM-listed firm pointed out that, due to Easter falling in April last year but in March this year, sales in this first quarter included Easter sales and promotional activities and, to remove this phasing rebalance it also released unaudited numbers for the six months to 30 June 2018 which showed year-on-year sales increased by 28%, with volumes up 27%.
Shares in Churchill China PLC (LON:CHH) jumped 10.4% higher to 1,082.5p after the company upgraded its trading expectations for the full year.
The AIM-listed pottery manufacturer said in a trading update that it had achieved “better than expected” growth levels in Europe in the first six months of the financial year following investments in market and product development.
As a result, Churchill China said it now anticipated that its performance for the full year would be ahead of its earlier expectations.
And Connect Group PLC (LON:CNCT) shares rose 5.4% to 31.3p as the logistics firm announced that a long-term contract with News UK had been renewed, securing £200mln a year in revenues.
The company, which saw its share price virtually halved three weeks ago after a profit warning, said the long-term contract within the United Kingdom with the newspaper publisher had been extended through to July 2024. News UK’s titles include The Sun, The Times and the Sunday Times.
11.10am: Gresham Technologies falls as it expects interim revenue to be lower
Gresham Technologies plc (LON:GHT) dropped 15.9% to 165.50p in late morning trading as the software services firm said its first-half revenues will be lower due to a delay in new contracts.
In a trading update for the half year to 30 June 2018, the group said its revenue will be down 5% compared to the same period last year. However, the company expects its adjusted underlying earnings (EBITDA) for the full year to be ‘broadly in line with expectations.”
Gresham Technologies also announced that it has acquired cash management and payments software company B2 Group S.a.R.L for up to €8.5mln.
Elsewhere, Topps Tiles Plc (LON:TPT) fell 0.7% to 62.50p as the retailer reported a decline in third-quarter like-for-like (LFL) sales.
The UK’s largest tile specialist said LFL sales in the 13 weeks ending July 1 were down 2.3% year-on-year, having been 2.2% lower in the preceding quarter.
Topps Tiles said the consumer environment remained weak, but it believed it continued to outperform the overall tile market during the quarter.
And shares in Compass Group PLC (LON:CPG) shed1.6% to 1,596p as the contract caterer announced that its finance director Johnny Thomson is to leave the role by the end of December.
The FTSE 100-listed firm - which lost its chief executive Richard Cousins at the start of the year following his death with his family in a seaplane crash in Australia on New Year’s Eve – said the search for Thomson’s successor will be started immediately.
9.30am: Modern Water up as opens brine treatment plant in India
Shares in Modern Water PLC (LON:MWG) were 2.8% higher at 9.10p in early morning trading as the desalination and water quality specialist revealed it has opened the world’s first brine treatment plant in India.
The AIM-listed firm said the plant is based on the company’s all membrane brine concentration process (AMBC) and it treats technically challenging wastewater for Indian chemicals giant Bodal Chemicals.
In a statement, Modern Water said: “This is a crucial part of an energy-efficient treatment process for a highly saline organic-laden effluent stream from dyes manufacturing operations that achieves zero liquid discharge, meaning that all waste water is purified and recycled at the end of the treatment cycle.“
Meanwhile, Sunrise Resources Plc (LON:SRES) rose 10.3% to 0.16p as the company updated investors on developments at the CS Pozzolan-Perlite Project in Nevada, where it is progressing towards establishing production.
The company noted that the permitting and regulatory process is on track, with baseline studies now complete. Environmental consultants have advised that the baseline studies have not identified any obstacles to the proposed mine development, and the final assessment now rest with the regulatory authorities.
And Nektan PLC (LON:NKTN) jumped 20% higher to 24.00p as the gambling product provider reported record results for its fourth quarter as it closed out a strong financial year in 2018.
In a trading update, the AIM-listed firm reported that net gaming revenue (NGR) for its managed gaming solutions division in Europe had risen 36.7% to £5.7mln in the fourth quarter compared to the same period in 2017, while for the full year NGR was up 48.1% on 2017 at £19.4mln.
Other Proactive news headlines:
Eland Oil & Gas PLC (LON:ELA) has provided investors with an update for the Opuama field, in Nigeria’s OML 40 licence area, where new wells are currently being added. The company noted that the Opuama-9 well, which was completed on June 21, continues to be optimised but highlighted that production has been measured at an overall rate of 7,000 barrels of oil per day – which is above the upper end of previous guidance, pitched at 4,000 to 6,000 bopd.
Directa Plus Plc (|LON:DCTA) has received a second big order for technical clothing incorporating its graphene enhancement G+ from Alfredo Grassi. The order is worth €700,000 and will delivered this financial year.
Ceres Power Holdings PLC (LON:CWR) has raised £20mln (gross) through a conditional placing and share subscription at 15.08p per share.
Tekcapital PLC (LON:TEK) has announced that its wholly-owned portfolio company Lucyd Pte Ltd has appointed Ira A. Clement, a licenced optometrist, as a science advisor and that the firm has filed a new patent application.
Biomass boiler specialist Aggregated Micro Power Holdings plc (LON:AMPH) saw profits rise 78% to £1.66mln in the year to the end of March after revenues more than doubled to £40mln from £15.8mln.
Greatland Gold plc (LON:GGP) has announced a new drilling campaign at its Havieron license following “encouraging” results from the final three holes of its first drilling programme.
Vast Resources PLC (LON:VAST) saw record sales at both the Pickstone–Peerless gold mine in Zimbabwe and at Manaila in Romania in the past quarter. Gold production at the 25%-owned Pickstone mine rose 10% to 6,969 ounces with sales up 3% at 6,754oz. Grades were 2.48 g/t (2.78 g/t).
Cradle Arc Plc (LON:CRA) has announced the disposal of assets in Burkina Faso which are deemed to be ‘non-core’ to the business. It is disposing of the company’s subsidiary Société Miniére de Kerboulé SARL (or SMK) holds the wholly owned Arae and Gassel-Manere exploration licences which together comprise the Kerboulé Gold Project.
Connemara Mining Company PLC (LON:CON) has announced the commencement of a new drill programme at the Oldcastle Zinc project located in counties Cavan and Meath, Ireland.
Bushveld Minerals Limited (LON:BMN) is ready to push on with the development of its Imaloto coal power project in Madagascar in the second half of the year. The company’s coal and energy subsidiary, Lemur Holdings, signed a 30-year concession agreement with the Madagascan government last month which gives it the right to build, own, operate and supply an initial 60 megawatts in Imaloto..
Tissue Regenix Group PLC (LON:TRX) has announced the appointment of Gareth Hywel Jones as chief financial officer. The AIM-listed firm said Jones will join the group as CFO, company secretary and as an executive director on board on 30 November 2018.
OptiBiotix Health plc (LON:OPTI) said it has appointed Dr Sofia Kolyda as director of research & development with immediate effect.
Chaarat Gold Holdings Limited (LON:CGH), the AIM quoted company developing the Chaarat Gold Deposit in the Kyrgyz Republic, announced the appointment with immediate effect of Robert Benbow as an executive director. Benbow’s appointment as chief operating officer, and he has worked with Chaarat since September 2016.
Thor Mining PLC (LON:THR) (ASX:THR) said SI Capital today released an initiation of coverage note on the stock with an ‘outperform’ rating.