Edenville Energy PLC (LON:EDL) has received a letter from Tanesco saying Edenville's request for qualification for coal-fired power generation projects in Tanzania had been refused.
No reason was been provided by Tanesco for this decision and Edenville is currently engaged in discussions with the Tanzania Electric Supply Company (Tanesco) to seek clarification as to the reasons behind this decision and to seek a way forward.
Shares in Edenville slumped to 0.08p from 0.111p overnight.
2.15pm: Sabien Technology halves after saying sales conversion rate needs to see sustained improvement to reach break-even
Shares in Sabien Technology Group Plc (LON:SNT) halved following the release of the company's interims, continuing a long period of woe for shareholders.
The boiler technology group saw sales in the six months to the end of December slide to £342,000 from £462,000 in the same period the year before while sales orders received dipped to £132,000 from £225,000.
On the plus side, the loss before tax narrowed to £207,000 from £233,000.
1.30pm: Spirits running high at Stock Spirits
A trading statement issued ahead of the company's annual general meeting (AGM) probably meant the AGM of Stock Spirits Group PLC (LON:STCK) went well.
Mind you, a smattering of the group's spirits and liqueurs would surely have lifted spirits as well.
The company, which is focused mainly on central and eastern Europe plus Italy, said trading since October had been solid.
Central and eastern European group Stock Spirits reports a “solid” performance for the start of 2019 and will “continue to assess a range of other opportunities” following its recent acquisition of Distillerie Franciacorta https://t.co/Uhgk2VkGbj pic.twitter.com/YJSLOGgjWZ
— The Spirits Business (@spiritsbusiness) February 14, 2019
Shares in Stock Spirits were up 4.2% at 234.5p.
12.15pm: SimiGon flying high
SimiGon Limited (LON:SIM), a provider of simulation training solutions, was flying high on Thursday after a trading update.
The company expects to show an increase of around 15% in revenue for 2018 from 2017's level and a narrowing of the net loss to around US$740,000 from US$890,000 in 2017.
Ass previously announced, the main part of the loss is a non-cash provision of US$450,000 related to a delay in payment from a particular customer in the civilian training market.
Shares in SimiGon were up 6.1% at 13p.
What??? A Virtual Reality #VR F-16 Maintenance Trainer! SimiGon offers our #maintenancetrainers in VR or without VR. pic.twitter.com/ptdzYZfzAu
— SimiGon Group (@SimiGonGroup) January 23, 2019
11.30am: UKOG running up that Horse Hill
UK Oil & Gas PLC's (LON:UKOG) shares were wanted after the company again increased its stake in the Horse Hill oil project.
It is acquiring a 6% interest in the Horse Hill Developments Limited (HHDL) vehicle, which in turn holds 65% of the Horse Hill project, from Doriemus.
Shares in UKOG were up 3.3% at 1.55p.
READ UK Oil & Gas increases stake in Horse Hill project with Doriemus deal
Entered into a binding heads of terms with Doriemus PLC to acquire a further 6% shareholding in the Company’s subsidiary, Horse Hill Developments Limited. UKOG will hold a 77.9% direct interest and majority 50.635% interest in HHDL. https://t.co/jfpqcT7S5t
— UKOG (@UKOGlistedonAIM) February 14, 2019
10.45am: Hurwitz's departure sparks boost for Tungsten share price
Richard Hurwitz, the chief executive officer (CEO) of Tungsten Corporation PLC (LON:TUNG), has quit with immediate effect.
The shares were up 10.5% at 24.3p following the announcement.
The search is on for a new CEO at the invoice processing outfit; in the meantime, the chairman, Tony Bromovsky, has taken on executive duties while chief financial officer David Williams will oversee the day-to-day operations of the company.
10.00am: WANdisco regains its groove
WANdisco PLC (LON:WAND) has done its time as a stock market star and supenova stock but it was back on the rise today.
The stock shot up 100p (20%) to 600p after the software replication specialist said it had received advanced technology partner status with Amazon Web Services (AWS) in the AWS Partner Network.
It also revealed that existing shareholders had subscribed for shares at 546p a pop, raising around US$17.5mln for the company. The newly issued shares represent around 5.9% of the issued share capital of WANdisco.
9.15am: Restaurant Group's boss cashes in his chips
Andy McCue, the chief executive officer of The Restaurant Group PLC (LON:RTN) has had his chips.
He notified the Frankie & Benny's restaurant chain operator of his decision to quit the role due to extenuating circumstances.
The struggling restaurateur's shares were down 11.2% at 129.6p.
Also on the slide were shares of Titon Holdings PLC (LON:TON), the window fittings firm.
The stock lost almost a third of its value after it issued a profit warning. It seems that in the company's key South Korean market, customers are moving towards mechanical rather than Titon's natural ventilation units in order to deal with higher levels of air pollution.
Titon has been busy redesigning its existing natural ventilation products to adapt to changing consumer demand.
“We have already commenced the design of new products and both in the UK and South Korea we will be committing substantial research and development resources to these new products, which we expect to introduce to the market in late 2019,” said Keith Ritchie, the executive chairman of Titon.
Proactive news headlines:
Strategic Minerals PLC (LON:SML) highlighted the world class potential of the Redmoor project as it revealed a new mineral resource estimate. It was estimated that Redmoor contains some 137,000 tonnes of inferred tin resources, up from 45,000 tonnes.
Medical imaging specialist Feedback PLC (LON:FDBK) has appointed Dr Tom Oakley as the chief executive of its Feedback Medical operating subsidiary.
Redx Pharma Plc (LON:REDX) said that, further to its announcement of 19 November 2018, James Mead assumed his new role as chief financial officer on 1 February 2019 The company also announced that on 13 February 2019, options over 1,200,000 ordinary shares in the company, were granted to Mead.
SkinBioTherapeutics PLC (LON:SBTX) said Dr Cath O'Neill will be “transitioning” from her role as chief executive this year with the life sciences company looking for a “commercially experienced individual” to succeed her.
Cabot Energy PLC (LON:CAB) told investors that it will use a new moratorium on Italian exploration activities as an opportunity to evaluate its future strategy in the country. Italy earlier this week introduced a pause of up to 18 months on all work on oil and gas exploration permits or applications to allow a review as part of the ‘Plan for Sustainable Energy Transition of Suitable Areas’ (PTESAI) bill.
Global healthcare and life sciences company Arix Bioscience PLC (LON:ARIX) said Harpoon Therapeutics, one of its portfolio companies, has completed its flotation on NASDAQ. Harpoon, a clinical-stage immunotherapy company developing a novel class of T cell engagers, completed an initial public offering (IPO) of 5.4mln shares at US$14 a shot, raising US$75.6mln.
Motif Bio Plc (LON:MTFB) (NASDAQ:MFTB) said it has requested a meeting with the Food & Drug Administration after the US watchdog said it wouldn’t be giving the regulatory green light to the company’s antibiotic, iclaprim. In what’s called a complete response letter, the FDA indicated additional data would be required “to further evaluate the risk for liver toxicity” before granting approval.
Fund manager Tavistock Investments PLC (LON:TAVI) reiterated its commitment to pay a maiden dividend this fiscal year despite trading being below expectations. The company said that funds under management (FUM) and earnings are still expected to grow significantly in the year to the end of March, albeit not as rapidly as management had hoped.
Africa-focused property investor GRIT Real Estate Income Group Limited (LON:GR1T) expects to meet its income targets though property conditions in its markets aren’t easy. "Given the strength of the Group’s existing portfolio, the Company expects to continue to deliver annual rental growth as well as possible capital value increases through yield compression," said Bronwen Corbett, chief executive.
IronRidge Resources Limited (LON:IRR) said it had secured access rights for a “highly prospective” gold license application to the Zaranou project in Côte d'Ivoire. Big Pic in December.
Futura Medical PLC (LON:FUM) said it will host its first European Key Opinion Leader (KOL) Advisory Panel meeting ahead of the 21st Congress of the ESSM on 14-16 February 2019, at Cultural and Congress Centre Cankarjev Dom, Ljubljana, Slovenia. This meeting follows the successful US KOL Advisory Panel meeting at the Sexual Medicine Society of North America (SMSNA) in November 2018.
DP Poland Plc (LON:DPP) announced that it has conditionally raised additional gross proceeds of approximately £0.5mln via the Broker Option in its fundraising announced on 7 February. The group said an additional 8,333,333 new ordinary shares were placed by Peel Hunt at a price of 6p each, with significant demand via the Broker Option and the book over-subscribed.
Galantas Gold Corporation (LON:GAL) (TSX:GAL) said it has awarded 3,200,000 incentive stock options to directors, officers, consultants and key employees. The group said the exercise price for the options, which expire on February 13, 2024, is C$0.09 per share.