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Sativa Investments shares light up; discoverIE Group shares march higher

Last updated: 15:40 18 Oct 2018 BST, First published: 09:14 18 Oct 2018 BST

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Sativa Investments PLC (LON:SATI) shares soared 15% to 12.38p after the UK medicinal cannabis investment vehicle said it has raised £3.75mln in a share placing and plans to build a cannabis greenhouse.

The company said it placed 62.5mln new ordinary shares at 6p each and proceeds of the equity raise would be used to develop its business. It also signed heads of terms for a £85,000 option to lease a 7.53 acre development site in Wiltshire. 

READ: Sativa takes big step towards becoming the UK's first seed-to-consumer medicinal cannabis business

Meanwhile, shares of discoverIE Group PLC (LON:DSCV) gained 4% to 392.00p after the broker finnCap upgraded its forecasts for the maker of medical and industrial equipment.

The broker said it believes cross-selling opportunities opened up by discoverIE’s acquisition of the Cursor Controls Group are very high. Cursor’s products include custom-designed trackballs and ruggedised keyboards.

READ: DiscoverIE rises again on further reflection on Curson Controls acquisition

UK Oil & Gas PLC (LON:UKOG) popped up 5.3% to 2.00p as the O&G explorer officially declared the Horse Hill Portland oil field “commercially viable”.

The AIM-listed company now envisages Horse Hill field development would comprise three production wells, and, as such, new planning applications appear to be near completion.

READ:  UK Oil & Gas declares Horse Hill’s Portland reservoir “commercially viable”

But in the losing column, Games Workshop Group PLC (LON:GAW) fell 8.6% to 3,042.00p following a downbeat trading statement from the maker of the Warhammer and Warhammer 40k games.

The FTSE 250 company said it “remains aware that there are some uncertainties in the trading periods ahead for the rest of the 2018/19 financial year”. The statement did not give any details regarding what the uncertainties might be. On the plus side, trading in the last couple of months has “continued well” with sales ahead of the same period of last year and profits steady.

READ: Games Workshop keeps shareholders in the dark about "uncertainties" ahead

International Personal Finance PLC (LON:IPF) fell 5.3% to 208.00p after posting a 6% increase in third-quarter credit issued while warning about the impact of Romanian credit limits.

The lender said it expects tighter credit rules in Romania to hurt sales volumes. The National Bank of Romania on Wednesday unveiled limits on debt-to-income for individuals taking loans from banks to reduce indebtedness rates in the country.

READ: IPF warns on impact of Romanian credit limits

Wishbone Gold PLC (LON:WSBN) shares jumped 16% to 0.13p as the metals trading company said it raised £567,000 through a placing to pay off its equity stand-by facility with financier D-Beta.

The AIM-quoted company said shares were placed at 0.1p to raise the cash, with subscribers also receiving a warrant exercisable at the issue price.

But in the red were shares of Applied Graphene Materials PLC (LON:AGM), down 4.2% to 41.21p as orders at the industrial coatings group appeared elusive.

The AIM-quoted graphene product specialist highlighted adoption of its graphene by JBL, Brit Tipp, Airbus and Puraglobe. However, completion of the testing regime at JBL and Airbus that are required to meet customer expectations has taken longer than expected. As a result, the ramp-up in sales is likely to be later than previously anticipated, the company said.

READ: Applied Graphene Materials stuck in the red as orders remain elusive

Meanwhile, shares of Mosman Oil And Gas Limited (LON:MSMN) slumped 10% to 0.45p as the company said operations at the Welch Permian Basin project and the Strawn project in Texas have been impacted by recent significant rainfall.

Several wells had to be temporarily shut-in, said AIM-listed Mosman. While rainfall has caused some disruption, the company is not aware of any damage to production facilities. Separately, Mosman told investors that the Stanley-1 well is nearing an important crossover point where it can be better optimised for oil production.

READ: Mosman eyes Stanley well optimisation for oil, Texas operations suffer heavy weather

Zytronic PLC (LON:ZYT) shares slumped 9.9% to 383.00p in early Thursday dealings after the maker of touch sensors said full-year pre-tax profit was hurt by lower margins and litigation costs.

The AIM-quoted company said full-year pre-tax profit was £4.2mln, or £4.5mln before the litigation costs, which it said was behind market expectations.

Lower margins were a result of new designs and production techniques, Zytronic said. It also said a “spurious patent claim” was settled for £72,000, plus the group’s own cost of £240,000. Trading in the second half of the year showed a 10% improvement in revenues over the first half, totalling £11.7mln, it added.

But ReNeuron Group PLC (LON:RENE) shares moved up 6% to 3.50p as the company said its CTX stem cell line could be used in the fight against cancer.

AIM-listed ReNeuron said the platform is currently being taken through the clinic as a possible treatment for stroke patients, with long-term data suggesting it can improvement motor function and reduce levels of disability.

READ:  ReNeuron’s CTX stem cell platform could be used to fight cancer

Also gaining ground was Modern Water PLC (LON:MWG) as shares rose 4.5% to 0.40p after the water and wastewater treatment technology maker entered into a collaboration agreement with South African contractor WEC Projects Ltd

Modern Water, quoted on AIM, said Johannesburg-based WEC Projects will promote its proprietary All-Membrane Brine Concentration technology throughout Africa.

And on the main market, Domino’s Pizza Group PLC (LON:DOM) shares jumped 3.1% to 267.69p, with the pizza delivery chain reporting a near 6% rise in sales over the summer despite the hot weather.

The FTSE 250-listed firm posted a 5.9% increase in group sales to £303.3mln in the quarter ended September 30. Online sales in its core UK and Ireland business, which accounts for more than 90% of group revenue, grew 11.4%.

READ: Heatwave not a problem for Domino’s as Q3 sales jump 6%

Proactive news headlines:

Wishbone Gold PLC (LON:WSBN) has raised £550,000 through a placing to pay off its equity stand-by facility with financier D-Beta. The agreement was set up in August 2017 and ending the arrangement will see Wishbone pay about £120,000 owed and a final settlement payment of £274,000.

ReNeuron Group PLC (LON:RENE) believes its CTX stem cell line could be used in the fight against cancer.

SDX Energy Inc (LON:SDX, CVE:SDX) has revealed it is out of the running for Egyptian assets being sold by BP. The AIM-quoted company, in a stock market statement, told investors that discussions with BP have been terminated by mutual agreement. No reasons were disclosed for the breakdown in negotiations.

Mosman Oil And Gas Limited (LON:MSMN) updated investors on its operations at the Stanley project, meanwhile, Texas operations have been impacted by significant rainfall.

George Frangeskides, Alba Minerals Resources PLC’s (LON:ALBA) executive chairman, is looking forward to the rapid progression of the Horse Hill oil field into the development phase, and, subsequently into production. Alba owns an 11.765% beneficial interest in the Horse Hill project, via a shareholding in the HHDL vehicle.

Live Company Group PLC’s (LON:LVCG) latest acquisition, Bright Bricks, is to take its life-size LEGO animals on a tour of zoos in Europe and the USA later this month.

Shanta Gold Limited (LON:SHG) produced 19,723 ounces of gold in the third quarter at its New Luika mine in South-Western Tanzania, which was a bit less than expected.

Base Resources Limited (LON:BSE, ASX:BSE) said mined ore tonnes increased by 35% in the third quarter.

Highlands Natural Resources PLC (LON:HNR) told investors that it has filed applications with the Colorado Oil and Gas Conservation Commission (COGCC) for a larger scale development plan for the West Denver shale oil and gas project.

Collagen Solutions PLC (LON:COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, has announced that its chief executive, Jamal Rushdy, will be presenting at Biotech and Money's Inv€$tival Showcase which is being held at the Hilton Waldorf, London, on Tuesday 13 November 2018.

S&U PLC (LON:SUS), the specialist motor finance and bridging lender, today hosted a site visit for investors and analysts at the offices of Advantage, its motor finance business based in Grimsby. The firm said no new material information will be disclosed and a copy of the presentation will be available for download on the S&U website. www.suplc.co.uk

Primary Health Properties PLC (LON:PHP), one of the UK's leading investors in modern primary healthcare facilities, today hosted a capital markets visit for analysts to a selection of its assets in the city and surrounding towns of Dublin, Republic of Ireland.

United Oil & Gas PLC (LON:UOG), the oil and gas exploration and development company, has announced that it will be presenting at the Oil Capital Conference on 24 October 2018 at 10:00am, to be held at The Brewery, 52 Chiswell Street, London, EC1Y 4SD.

The Marketing Group PLC has announced the appointment of Sean Gogarty as a non-executive director of the company with immediate effect. The group said Gogarty has spent the majority of his working life developing brands and running branded businesses.

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