Challenger Acquisitions Limited (LON:CHAL) set investors’ tongues wagging after it called a shareholder conference call for next Wednesday afternoon.
It has set up calls at short notice in the past but usually gives a rough outline of what will be discussed, such as an update on the big wheel project in New York or the sale of an asset.
This time around it said chief executive Mark Gustafson would answer questions from investors and also explain “the rationale for the AGM location”.
For the past couple of years, Challenger has held its AGM in Guernsey, but this time around it is going to Zurich in Switzerland.
Investors, curious as to what might be said next Wednesday, piled into the stock, sending it 25% higher to 0.32p.
Minds + Machines climbs as it launches new domain names in China
Minds + Machines Group Limited (LON:MMX) shares rose on Friday after it received approval to launch a new batch of generic top-level domains (gTLDs) in China.
The Chinese Ministry of Industry and Information Technology (MIIT) has given the green light for the future release of the .fashion, .fit, .yoga and .luxe gTLDs.
Three of the newly approved domains (the bit of an internet address after the final dot) are based around lifestyle and come soon after the recent launch of .购物 (.shopping), which the directors revealed is performing well.
MMX believes there will be benefits to the group by introducing these three extensions, already released in the west, into the region over the next 12 months.
The .luxe will be introduced into China in the fourth quarter of this year as part of a broader global launch of this new top-level domain. Shares are up 8.4% to 7.6p I nearly afternoon trading.
Creo Medical up as it raises £48.5mln
Creo Medical Group PLC was a lunchtime riser, up nearly 11% to 142.5p after the AIM-listed firm raised a total of £48.5mln through three share placings, showing strong investor demand.
The trio of placings amounted to the issue of 38.8mln shares at a placing price of 125p each with the fundraising to be used to attract partners for possible mergers and acquisitions.
Last Monday, the company, which is bringing advanced energy to the emerging field of surgical endoscopy said it was considering a placing of between £15mln and £20mln but that it was considering a higher figure.
Elsewhere, RhythmOne PLC (LON:RTHM) gained 13.7% at 199p after the mobile advertising specialist said it saw a sharp rise in volumes and prices per impression in its latest quarter.
The AIM-listed group said ad requests processed through its platform rose by 26% to 9.59bn, while the price of impressions rose to US$4.32 from US$3.36.
10.40am: Tristel in-line trading update fails to excite
Tristel PLC (LON:TSTL) was best avoided in mid-morning trade, with the infection prevention products manufacturer’s shares shedding 7% at 297.5p after its latest trading update only met expectations.
In a note to clients, analysts at finnCap said: “The company’s trading statement for the year ending 30 June indicates revenues in line with our forecasts (£22.2m, +9.5%) and adjusted pre-tax profit of at least £4.4m (+8%).
“Year-end cash, however, was £0.6m higher than forecast at £6.7m, an increase of £1.6m after paying out £1.8m in dividends. International markets continue to drive growth, up 19% and accounting for 51%.”
The City broker said it will wait to update forecasts and reassess its target price until Tristel’s preliminary results on 15 October.
Also among the minority fallers, Bellzone Mining PLC (LON:BZM) shares fell another 7% to 0.625p after a 225 drop on Thursday following the AIM-listed firm’s move to knock out a £1mln placing at 0.6p a share.
The fund-raising took advantage of a recent share price surge by Bellzone after formal approval on Monday for its Kalia ferronickel project was ratified by the Guinean government.
And AfriTin Mining Ltd (LON:ATM) shed 4.5% at 3.2p as the Namibia-based tin group reveals continuing full-year losses although it also said it is on track to produce its first concentrate from the Uis mine by the end of the year.
The group said work is underway to upgrade the pilot plant to 65 tonnes per month of tin concentrate.
9.25am: Trio of oil minnows provided some excitement
A trio of oil minnows provided some excitement following corporate news in early morning trading on Friday the 13th.
Regal Petroleum PLC (LON:RPT) saw its shares gain 7.7% at 20.4p after the firm announced positive results from the workover of the SV-12 well at its Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields in Ukraine.
Regal said short-term initial flow testing established good gas and condensate flow, and the well is being hooked-up to the gas processing facility.
It added that after completion of the hook-up, production testing will be conducted to optimise the operating parameters of the well.
Meanwhile, Columbus Energy Resources PLC (LON:CERP) gained 8.6% at 5.05p on news it has expanded its footprint in southern Trinidad with the acquisition of Steeldrum for £4.4mln in shares.
Steeldrum is producing at a rate of 200-250 barrels oil daily currently and has reserves of 5.6mln barrels at the Innis-Trinity and South Erin fields and 1.1mln within the Cory Moruga development project. Columbus will also get access to two rigs, which can be used to explore its other assets in Trinidad’s South-West Peninsula.
And Solo Oil PLC (LON:SOLO) jumped 20% higher to 2.7p as the explorer issued a positive operational and corporate update, which included news its executive chairman, Neil Ritson is to retire before the end of 2018 as part of a board restructuring designed to ready the company for the future.
Ritson, who has been a director of the oil and gas investor since 2010, has offered to stay on as chief executive pending the appointment of a new non-executive chairman and thereafter as a technical advisor, as and when required.
Other Proactive news headlines:
Telit Communications PLC (LON:TCM), the Internet of Things (IoT) enabler, has agreed to sell its automotive division to TUS International for US$105mln in cash.
W Resources PLC has revealed that initial assays results from the reverse circulation (RC) drilling campaign at its São Martinho gold project in Portugal has shown thick gold intersections and high grades. The AIM-listed firm said highlights from the first seven holes of the 15-hole campaign are a 25 metre intersection of gold at 0.85 grams per tonne.
Minds + Machines Group Limited (LON:MMX) has received approval to launch a new batch of generic top-level domains in China: .fashion, .fit, .yoga and .luxe.
Next Fifteen Communications Group PLC (LON:NFC) has snapped up digital marketing business Technical Associates Group in a deal worth up to £3.6mln.
genedrive PLC (LON:GDR), the rapid diagnostics specialist, said it is applying for an additional £2mln of grant funding as it updated on current trading. The awards will be used to progress work on the company's Hepatitis-c and tuberculosis products.
Namibia-based tin group AfriTin Mining Ltd (LON:ATM) is on track to produce its first concentrate from the Uis mine by the end of the year. Work is underway to upgrade the pilot plant to 65 tonnes per month of tin concentrate.
Lionsgold (LON:LION) has announced the appointment of Michael Anthony Corcoran as its interim chairman and non-executive director with immediate effect. The AIM-listed gold company, said concurrently with Michael joining the board, David Price, its non-executive chairman, has stepped down from the board to focus on his role as CEO of a separate company.
Providence Resources PLC (LON:PVR), the Ireland-based oil & gas exploration company, confirmed that, having received approval from the Minister of State at the Department of Communications, Climate Action and Environment, the farm-out comprising the assignment of equity (35%) and transfer of operatorship of FEL 2/14 to TOTAL E&P Ireland BV has now completed.