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Stagecoach and Winkworth trade strongly, Lighthouse lit up on Quilter deal

Here's a look at Wednesday's big share price movers.

oil and gas operations
Investors are impressed with Chariot's new addition offshore Morocco

Shares in transport operator Stagecoach Group plc (LON:SGC) gained over  7% in early deals, and, by midday were up 7.5p or 4.84% at 162.3p, thanks to an upgraded earnings forecast triggered by a better-than-expected performance in its UK rail business.

Estate agent M Winkworth Plc (LON:WINK) advanced 8p or 7.62%, trading at 113p, on the news of a 5% rise in 2018 pre-tax profit as revenue was led higher by a strong performance in the rentals business.

Lighthouse Group plc (LON:LGT) rose 22% to 32.5p after it agreed to be bought by UK wealth manager Quilter in a deal worth £46.2mln.

Brave Bison Group plc (LON:BBSN) shares dropped 20%, to 2p, with the news of management succession - Kate Burns is taking over as chief executive with immediate effect.

Internet of Things investor Tern PLC (LON:TERN) saw its shares fall 15%, to 8.57p, as it raised £1.5mln of new equity with a share placing - priced at 8.5p each.

AIM-oilers Chariot and Jersey Oil & Gas make big moves in early deals

A pair of AIM-quoted offshore oil explorers moved in opposite directions in early deals.

Chariot Oil & Gas Limited (LON:CHAR) saw its shares open Wednesday’s session some 20% higher after it revealed an impressive, low cost asset acquisition in Morocco.

Picking up a 75% interest in the Lixus licence gives Chariot a project with an existing discovery, development potential, follow-on growth potential and also blue-sky exploration for further in the future.

It marks something of a change of tack for the wildcat explorer, and, evidently investors approve of this approach.

At 9:15am, Chariot shares were up 0.41p or 18% at 2.63p.

Unfortunately for Jersey Oil & Gas plc (LON:JOG) shareholders there was less to be happy about, as the Equinor-operated Verbier appraisal well failed to deliver what had been hoped for – a sizeable upgrade to the discovery’s resource base.

Instead, the appraisal did not encounter the targeted reservoir which leaves the partners looking at the lower end of the pre-drill estimate (pitched at 25mln to 130mln barrels).

Jersey says it is still confident that Verbier can be a commercial project, and, it highlighted the possibility of resource upside in other aspects of the project area, but, this resolute positivity did little to soften the immediate blow in the market.

JOG shares were down 120p or 52.56% to 108.4p.

Other Proactive news headlines:

African Battery Metals PLC is to push ahead with its work in Cameroon following a review, with the tenements held seen as highly prospective for elevated grades of nickel and cobalt. Paul Johnson, African Battery Metals’ executive director said "ideally we would like to commence as soon as possible to enable work to be completed prior to the heavy rains expected after June."

AdEPT Technology Group PLC (LON:ADT) has said it will increase its final dividend in its upcoming results for the year ended 31 March 2019 after its revenues and underlying earnings (EBITDA) rose in line with market expectations.

Minds + Machines PLC (LON:MMX) has seen an ‘exceptionally strong’ start to the current year while recurring revenues now account for the majority of income. The registry owns a raft of internet addresses including .law, .luxe and .xxx.

StatPro Group PLC (LON:SOG) has landed a three-year, US$1.2mln contract extension for its cloud-based portfolio analytics product, Revolution. The customer is an unnamed fund administrator, which has won a new client.

Shield Therapeutics PLC (LON:STX) expects to sign more out-licence agreements in the coming months for Feraccru – its flagship iron deficiency treatment. The AIM company struck a deal which gave Dutch pharma group Norgine the right to sell the drug in Europe, Australia and New Zealand towards the end of 2018. Big Pic in December.

After a year of investment, virtual reality firm Immotion Group PLC (LON:IMMO) has told investors it is ready to push on towards break even. The AIM company, which makes immersive VR ‘pods’ and the content that goes with them, ploughed money into opening new ImmotionVR arcades and developing games and experiences in 2018.

KRM22 PLC (LON:KRM) said it plans to raise up to £1.8mln via a share placing and subscription for new stock as it revealed it is in early talks to tap a venture debt provider for up to £10mln to fund potential acquisitions. If the debt deal is agreed, the company would draw down an initial £1-£2.5mln, investors were told.

Sound Energy PLC (LON:SOU) is looking forward to the start of testing at the TE-10, once certain equipment arrives from Tunisia. The company, in a statement after Tuesday’s close, confirmed that TE-10 will undergo testing after a ‘rig-less re-entry’ to the well, following the receipt of coiled tubing which is on the way.

Alba Mineral Resources plc (LON:ALBA) has relayed to investors a timetable for the upcoming work programme at the Brockham oil project, onshore UK. It has a 5% interest in the project led by operator Angus Energy, which provided the company with the schedule. The indicative timetable sees operations starting on or around 12 April.

Kibo Energy PLC (LON:KIBO) has said that, further to its announcement dated 11 December 2018, a final decision regarding the Strategic Development Agreement with SEPCOIII has not been made, with discussions ongoing. The company added that it looks forward to updating the market further in this regard in due course.

Taptica International Ltd. (LON:TAP), a global leader in advertising technologies, announced that following the completion of its merger with RhythmOne, a lunch meeting will be held for private investors at 1.00 pm on Friday, 12 April 2019 at the offices of finnCap, 60 New Broad St, London EC2M 1JJ.

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