The delay is mainly due a spot of digging that needs to be done by the board and its auditors.
He company said certain transactions entered into by the group companies have been identified where the status of the counterparties and the nature of the transactions require further review and analysis.
The shares were down 18% at 41p. Shareholders will be hoping this is noth another Ferrexpo in the making.
2.00pm: Bidstack confirms plans to issue fresh equity
Shares in Bidstack Group PLC (LON:BIDS), the native in-game advertising group, slumped after it confirmed it was mulling a fund-raising.
The shares had slumped from last night’s close of 17.25p to 15.5p as rumours swirled in the market, prompting the company to issue its statement, whereupon the shares fell further to 13.2p, down 23% on the day.
The directors of Bidstack said the fundraising had come after it received indications of interest from a number of potential investors.
12.45pm: EU Supply moves into the black
The e-procurement software provider’s full-year results cheered the market big time, prompting the shares to surge 16% to 11.75p.
The company moved into the black with a pre-tax profit of £360,250 compared to a loss in 2017 of £171,996.
The company enjoyed positive cash flow in in the first quarter, which it said “confirms the strengthening working capital position of the company”.
11.30am: ReNeuron’s eyes are smiling
The company said the first group of patients receiving cell therapy for the blindness-causing disease have seen “sustained and further improvement” to their sight.
Shares in ReNeuron were up 21.5% at 325p.
10.30am: Inspirit Energy the hot stock of the morning
Improvements and efficiencies have provided the charger unit with peak electrical output in excess of 6.4kW (kilowatts) of electricity during a running cycle of 2,000 hours against the unit's previous output of 3.0kW, while maintaining 15kW thermal output and a 20% reduction in the size of the appliance to below 800mm.
Shares in Inspirit were the hottest in London, up 75% at 0.0525p.
9.45am: Prospex pumped after resource upgrade at Podere Gallina investment and Selva gas field
Prospex Oil and Gas PLC (LON:PXOG), the investment company, has flagged up a substantial upgrade to the resource estimate for the Podere Gallina Exploration Permit in Italy.
Specifically, the Selva gas field resources in the Po Valley region of Italy have now been estimated at 14.1 billion cubic feet (bcf) of contingent resources (known as “2C” n the trade) and 91.5bcf prospective resources (best estimate).
Previously gross resources for Podere Gallina stood at zero 2C resources and 52.7bcf prospective resources, alongside 13.3bcf of 2P reserves.
Shares in Prospex were up 42% at 0.22p.
Prospex Oil & Gas (@ProspexOG) April 26, 2019
9.15am: Deloitte quits as Ferrexpo's auditor
Deloitte’s decision to give up the auditing gig comes in the wake of the investigation into donations made by Ferrexpo to the Blooming Land Charity, a charitable organisation at the heart of the company’s community and social responsibility programme in Ukraine.
READ Questions swirl around Ferrexpo’s charitable donations, as final results put on hold, and auditors circle
Shares in the company were down 18% at 219.9p.
In a rare step, the auditor of iron ore miner Ferrexpo has resigned, three days after it red flagged some transactions between the company's CEO and a charitable foundation. Ferrexpo shares are down 17% today in London | #commodities #mining https://t.co/E3a9qO2NXk— Javier Blas (@JavierBlas) April 26, 2019
Talking of bean counters, Hastings Group Holdings PLC (LON:HSTG), the car insurance group, has confirmed that new chief financial officer John Worth will be formally appointed as a director of the company on 10 May.
That’s not the reason the shares are down almost 10%, however; that would be due to the first quarter trading update.
The company said if the current market premium and claims dynamics continue through the year the group loss ratio would be expected to move towards the higher end of the 75% to 79% target range.
Proactive news headlines:
ReNeuron Group PLC (LON:RENE) said the first group of patients receiving cell therapy for a blindness-causing disease have seen “sustained and further improvement” to their sight. This was the top-line from the latest data assimilated from a phase IIa study of its human retinal progenitor cell (hRPC) treatment for retinitis pigmentosa.
Drilling operations are now underway at Union Jack Oil PLC’s (LON:UJO) 16% owned West Newton project in East Yorkshire. The West Newton A-2 appraisal well is a follow up to a previously drilled discovery well, which yielded a 189bn cubic feet gas equivalent resource in the Kirkham Abbey Shoal formation.
ANGLE PLC’s (LON:AGL) liquid biopsy system has been deployed in ground-breaking research assessing the role of the body’s own immune suppressor cells in promoting the cancer spread – a process called metastasis.
ECR Minerals PLC (LON:ECR) said the drilling programme recently completed at the Black Cat gold prospect, within the Bailieston gold project area in the state of Victoria, Australia encountered some encouraging grades and provided important geological insights.
United Oil & Gas PLC (LON:UOG) has revealed what it describes as a significant resource upgrade for its Italian gas project. An independent consultant, commissioned by project operator Po Valley, confirms proved and probable gas reserves of 13.3bn cubic feet at the Podere Gallina licence.
Motif Bio PLC (LON:MTFB) (NASDAQ:MTFB) has announced the appointment of Andrew Powell as a non-executive director, with immediate effect. It noted that Powell has served as General Counsel at several biotechnology firms, including CollaGenex Pharmaceuticals, Imclone Systems, Cornerstone Therapeutics, Intermune and, most recently, Medivation.
Eden Research PLC (LON:EDEN) has revealed that its commercial partner, Eastman Chemical Company has received a 120 day "emergency use" authorisation from the Italian Ministry of Agriculture for Eden's nematicide formulation, marketed as Cedroz.
Xpediator PLC (LON:XPD), a leading provider of freight management services across the UK and Europe, noted that further to its announcement of 16 January 2019, the company is no longer in discussions to acquire Intereuropa d.d, a Slovenian logistics company. The group said it continues to have a good pipeline of potential acquisition opportunities particularly in the UK and Europe which are at various stages of consideration and evaluation.
Taptica International Ltd (LON:TAP) has launched Tremor Video Private Marketplace Packages (PMPs) after combining its video advertising capabilities with RhythmOne. The AIM-quoted Taptica, which merged with RhythmOne, formerly known as Blinkx, earlier this year, said advertisers would now be able to show their videos in some of the “most highly sought-after environments in the digital space”. Big Pic in April.
AdEPT Technology Group PLC (LON:ADT), the information technology (IT) and communications service provider, has hit the acquisition trail again, snapping up a Doncaster-based IT services provider that is focused on the education sector.
ValiRx Plc (LON:VAL) has entered into a subscription agreement with European High Growth Opportunities SF as part of a wider financing arrangement to be provided by the investor to the company including a convertible facility. The group said the funds will be used to conclude the current VAL201 trial and for general working capital purposes.
Shares in e-banking and international payments group FairFX Group PLC (LON:FFX) surged as the group said first-quarter revenue growth was ahead of expectations. Group turnover, which represents money passing through the FairFX platform, rose by a third in the first quarter of 2019 to £620.5mln from £467.2mln in the same period of 2018.
Goldplat plc (LON:GDP) revealed that Gerard Kisbey-Green has stepped down as chief executive with immediate effect and it has launched a full review of its senior management requirements. Werner Klingenberg, who has been chief financial officer since June 2017, has been appointed interim chief executive.
Physical uranium stockpiler Yellow Cake PLC (LON:YCA) said the recent pullback in spot prices presented a good buying opportunity as it remained confident in the long-term outlook for the radioactive metal.
Further to its announcement on 16 April 2019, Highlands Natural Resources Ltd (LON:HNR) confirmed that Nick Tulloch will commence his role as finance director on 1 May 2019. It added that Melvyn Davies will step down from the board concurrently but will continue to assist Highlands as a consultant for approximately two months to effect a smooth transition.