Dev Clever slides after receiving go-ahead to deploy its "first live interactive experience"

A look at the day's major movers, including Vast Resources, Cyanconnode, Trackwise, Mosman, UKOG, 7digital, Scapa and easyHotel

Virtual reality
Every time Dev Clever releases a statement this month its shares seem to fall

Dev Clever Holdings PLC (LON:DEV), a developer of “immersive experiences” said its core virtual reality (VR) multi-user framework has received approval for use across multiple platforms.

The company said it has been given the go-ahead to deploy its “first live interactive experience” across multiple platforms including Google Play, Google Daydream, Oculus Store, Samsung Gear VR and the Apple Appstore.

The market seemed unimpressed; the shares were down 4.1% at 8.25p.

3.00pm: Vast boosted by financing progress

Vast Resources PLC (LON:VAST) was a top riser on Thursday after it updated on financing discussions as well as the restructuring of its business.

The mining firm said it was expecting term sheets (non-binding investment agreements) from financial institutions for loan finance to bring its Baita Plai metal mine in Romania into production.

The shares surged 10.3% to 0.16p.

2.15pm: Cyanconnode rallies after upbeat trading statement

The flagging share price of CyanConnode Holdings PLC (LON:CYAN) received a boost from the release of a trading update.

The narrowband radio network specialist's shares rose 7% to 6.1p – still some way below the 16.58p they reached last October – after it said revenues for 2018 will “significantly exceed” those for 2017.

Trading thus far in 2019 has been good and in line with market expectations.

1.15pm: Trackwise sprints higher

Printed circuit board outfit Trackwise Designs PLC (LON:TWD) said the current financial year has got off to a steady start.

Revenue is in line with expectations, despite some uncertainty engendered by Brexit.

The shares were up 10.3% at 102p after the company posted a profit before tax for 2018 of £68,000, representing a turnaround from the previous year when it made a loss of £13,000.

12.05pm: Mosman boosted by Stanley-2 well update

Mosman Oil And Gas Ltd (LON:MSMN) shares jumped in Thursday's deals after revealing positive results from the Stanley-2 well.

The company told investors that analysis of logs and cores from the well identified multiple potential production zones. It includes several Yegua sands, which are described as a prolific sequence in the region.

Data from two wells drilled at Stanley have been used in a detailed evaluation in order to optimise short-term oil production, whilst maximising long-term reservoir management.

Shares in Mosman were up 25.4% at 0.375p.

11.15am: UKOG stumbles out of the stalls after Horse Hill update

UK Oil & Gas PLC (LON:UKOG), one of the companies backing the Horse Hill development near Gatwick Airport, stumbled in early deals.

The company updated the market on Horse Hill’s Portland reservoir production test. The Portland well has continued to flow at a stable rate of 220 barrels of oil per day (bopd).

“We remain fully on track to drill new horizontals in the second quarter of this year and are even more confident that the new Portland horizontal well can achieve its 720-1,080 bopd target,” said Stephen Sanderson, UKOG chief executive.

UKOG's shares were down 4.1% at 1.175p.

10.30am: 7digital sings "Money (that's what I want)" again

Further indications that a cash injection could be needed soon sent the shares of 7digital Group PLC (LON:7DIG) plummeting.

Shares in the in-store radio service provider lost more than a third of their value after the company notified the market it had received a notice of redemption from a loan note holder due to non-payment of interest.

The redemption notice relates to outstanding loan notes and interest amounting to £325,570.

Earlier this week, shares in 7digital hit the skids after the new management team said it believed the company will require material further equity and/or debt funding, probably by the beginning of June.

9.30am: Scapa and easyHotel surge after trading updates

Shares in Scapa Group plc (LON:SCPA) surged on Thursday as the adhesive-based products supplier avoided issuing a profit warning.

The shares took a tonking in November when the company reported a sharp drop in half-year revenues but climbed 9% this morning to 345p as the company said revenue, trading profit and margins for the year just ended are expected to be in line with market expectations.

READ Scapa Group profit slides as healthcare margins contract, shares dip

"We reached a milestone of £300 million in revenue and delivered a record profit,” trumpeted Heejae Chae, the chief executive of the adhesive tapes, films and foams provider.

Also on the up was easyHotel PLC (LON:EZH), the cheap'n'cheerful hotels operator, after its pre-close trading statement.

The group's owned and franchised hotels significantly outperformed the market in the UK, easyHotel said.

Its franchised hotels had a tough time of its in the six months to the end of March, with revenue per available room (RevPAR) down 3.5% year-on-year but the group's own hotels picked up the slack, with RevPAR up 5.4% year-on-year.

Proactive news headlines:

Rose Petroleum PLC (LON:ROSE) has hired Robert Bensh as its new chairman, not David Sefton as had previously been announced by the company. The company had, at the end of March, announced that Sefton would be appointed along with James Berwick as a new non-executive director following a proposal coming from a group of its shareholders.

Vast Resources PLC (LON:VAST) was a top riser in London on Thursday morning after it updated on financing discussions as well as the restructuring of its business. The mining firm said it was expecting term sheets (non-binding investment agreements) from financial institutions for loan finance to bring its Baita Plai metal mine in Romania into production.

hVIVO PLC (LON:HVO) bosses are confident that the drug development services provider will turn a profit next year as it starts to see the benefits of recent changes. The company, which carries out ‘challenge’ trials on behalf of drugmakers, said its pipeline of opportunities for 2020 is already “looking exceptionally strong”.

Faron Pharmaceuticals Ltd (LON:FARN) is to target more patients with late-stage colorectal cancer as part of the ongoing phase I/II study of its Clevegen immunotherapy drug.

Alba Mineral Resources plc’s (LON:ALBA) investment in the Horse Hill oil project continues to see a boost from ongoing test production and fresh drill programmes promise new potential value catalysts in the coming months. Today, a new update from Horse Hill’s Portland reservoir production test revealed that oil has continued to flow at a stable rate of 220 barrels per day. It is a constrained rate, held below the 362 bopd top rate seen previously, due to prudent reservoir management.

Security software firm Corero Network Security PLC (LON:CNS) has reiterated its commitment to moving into profit at the underlying earnings (EBITDA) level this year.

Rosslyn Data Technologies PLC (LON:RDT) has appointed finance veteran Ash Mehta as its chief financial officer (CFO). Rosslyn said Mehta, who did a stint as finance director of Northbridge Industrial Services between 2007 and 2011, said Mehta has substantial CFO experience in growth companies, both public and private. Big Pic in November.

Aggregated Micro Power Holdings PLC (LON:AMPH) believes it now has a firm grip on its wood fuels business after a difficult year for the division.

Biotech investor Arix Bioscience PLC (LON:ARIX) has agreed to invest another US$5.0mln (£3.8mln) in Autolus Therapeutics PLC (NASDAQ:AUTL).

Tharisa plc (LON:THS) told investors it is ‘on track’ to meet its 2020 production targets thanks to “substantial improvements” in the second quarter mining operations. The company, in a statement, said that in the quarter ended 31 March it saw an improvement in reef tonnes mined and stripping ratio, meanwhile, production drilling activity improved by 9.5%.

BigDish PLC (LON:DISH) is planning to add reviews and reservation sharing features to its app and website as part of technology development targets for the second quarter.

OptiBiotix Health PLC (LON:OPTI) said it has received a licence from the Food Standards and Safety Authority India (FSSAI) for its award-winning weight management product, SlimBiome to be manufactured in India.

Strategic Minerals PLC (LON:SML) has produced its first tonne of copper cement from Leigh Creek in South Australia. The cement contained 70% copper and was processed at the Mountain of Light plant. Drilling at Leigh Creek’s Paltridge North prospect, meanwhile, has been raised by 46% to a JORC compliant 10,800 copper metal tonnes.

Instem PLC (LON:INS) said shareholders including chairman David Gare and non-executive director David Sherwin plan to sell stock in the IT company “to satisfy market demand and broaden the institutional investor base”. A total of 1.6mln shares (the equivalent of 10.2% stake) are being sold at “not less than” 290p a share.

Shefa Yamim (ATM) Ltd (LON:SEFA) is planning to change its name to Shefa Gems Ltd at its annual general meeting next month. The Israeli gem miner added that if the name change was approved at the 23 May meeting its SEFA ticker would remain the same.

Kibo Energy PLC (LON:KIBO), the multi-asset, Africa focused energy company, announced that an updated version of its corporate presentation is now available on the company's website.

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