Proactive news snapshot: SigmaRoc, Summit Therapeutics, Immotion Group …

A glance at some of the day's highlights from the Proactive Investors newswire

Your daily round-up from the world of Proactive

SigmaRoc PLC (LON:SRC) has expanded its portfolio in South Wales with the acquisition of a 40% stake in quarry owner GD Harries (GDH).

Summit Therapeutics PLC (NASDAQ:SMMT) (LON:SUMM) has trumpeted the early success of a pre-clinical antibiotic that may help overcome drug resistance to a potentially deadly infection. It presented data at a leading healthcare conference that showed its treatment, DDS-04, had successfully tackled bacteria called Enterobacteriaceae in animals with urinary tract infections.

Virtual reality (VR) specialist Immotion Group PLC (LON:IMM) is to install aquatic immersive experiences at two major aquariums in the US. The AIM-quoted company will install a range of VR cinematic motion pods on a revenue-share basis at Odysea Aquarium, in Scottsdale, Arizona, and The Maritime Aquarium, in Norwalk, Connecticut.

Savannah Resources PLC (LON:SAV) is to take 100% control of its flagship asset, the Mina do Barroso Lithium project in Portugal. The 25% that Savannah doesn’t already own is to be acquired from minority shareholders in an all-share transaction valued at approximately US$11.9mln.

Jersey Oil and Gas PLC (LON:JOG) chief executive Andrew Benitz told investors there’s “still plenty to play for” at the Verbier project, as the rig moves off following an unsuccessful appraisal well. The well failed to upgrade Verbier’s resource base, the discovery is now believed to host closer to 25mln barrels rather than 130mln, and the company today confirmed it was drilled under budget.

Securing approval in the US for iclaprim remains the top priority for Motif Bio PLC (LON:MTFB), the company said in its full-year results statement but stressed it is only part of a broader plan for iclaprim's long term success.

ECR Minerals PLC (LON:ECR) told investors that it has kicked off processing and interpretation of airborne and ground geophysics data for the Windidda gold project, in Western Australia. This work is an important precursor to the determination of high profile drill targets, the company highlighted.

Regency Mines PLC (LON:RGM) has raised £240,000 via a placing undertaken by its broker, First Equity Limited, with the monies to be used to provide funding during the current strategic review of its operations. The AIM-listed group said 399,999,998 new ordinary shares were placed at £0.0006 each.

Crossword Cybersecurity Plc (LON:CCS) shares were lifted in mid-morning on Monday after the firm looked to “significant commercial growth” in its new fiscal year after it delivered its first set of final results since listing on AIM in December.

Telit Communications PLC (LON:TCM), a global enabler of the Internet of Things (IoT), confirmed that the short-term vendor loan granted to TUS has today been repaid in full. The vendor loan was granted to TUS on 27 February 2019 as part of the agreement to sell Telit Automotive Solutions NV to TUS for a total consideration of US$105mln.

Kalahari Metals Limited, in which Metal Tiger PLC (LON:MTR) holds a 50% stake, has received notification that the environmental management plan for its Okavango copper project has been reviewed and approved by the Botswana Department of Environmental Affairs.

Baker Steel Resources Trust Ltd (LON:BSRT) has completed on its agreement to invest into Azarga Metals Corp (CVE:AZR) The deal was previously announced on 14 February.

Rambler Metals and Mining PLC (LON:RMM) said, under its recent fundraising, it received valid acceptances in respect of 37,490,043 open offer shares giving it total proceeds of £524,860.58. The company added that, to date, it has raised total gross proceeds from the subscription and open offer of approximately £9mln via the issuance of 637,271,940 shares.

LoopUp Group PLC (LON:LOOP), the premium remote meetings company, has appointed Keith Taylor as an independent non-executive director, with immediate effect, and said he will become a member of the audit, remuneration and nominations committees. The group noted that Taylor has nearly 30 years' experience in senior roles across the finance industry, having worked for Barclays for over 20 years, most recently as a managing director within the Corporate & Investment Banking division.

88 Energy Limited (LON:88R) (ASX:88E) is pleased to confirm that the Company's latest corporate presentation, which was presented at its AGM held earlier today, is now available on the company website. www.88energy.com.


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