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RA International wins big Somalian contract

A look at the day's major movers, including Symphony Environmental, Angus Energy, Octagonal, Premier Technical Services and Andrews Sykes

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Earlier this week, chairman John Gunn purchased 1.7mln shares in Octagonal

RA International Group PLC (LON:RAI) has been awarded a new contract by the United Nations Support Office in Somalia (UNSOS).

The provider of services to remote locations in Africa and the Middle East is to run a vehicle and equipment fleet operation and first line maintenance services to UNSOS in up to 10 locations in Somalia. Under a previous agreement, RA International provided these services to UNSOS in one location.

The contract will run for up to five years with work set to start in June. The total five-year value of the contract is US$ 9.8 million.

Shares in RA were up 11.8%.

12.30pm: EU decision is sweet music to the ears of Symphony

Biodegradable plastics group Symphony Environmental International PLC (LON:SYM) says the European Commission has dropped plans for restrictions on the type of product it makes.

In 2017, the commission instructed the European Chemical Agency (ECHA) to prepare a case for restrictions on the basis oxo-biodegradable technology might result in microplastics being produced.

Symphony, which produces an oxo-biodegradable plastic branded as d2W, reported today the ECHA has now been instructed by the European Commission to close the restriction process.

The shares shot up 46% today, making them the day’s best performers.

11.30am: Angus takes the low road after Brockham update

Angus Energy PLC (LON:ANGS) shares wrre on the slippery slope after the company issued an update on its operations at Brockham in Surrey.

The company said the rig at Brockham has now been demobilised.

Having set the plug and function tested the downhole pump, Angus believes it has successfully isolated the water zone without bringing hydrocarbons to surface.

“We will now analyse the results with our partners before proceeding to the next stage which would involve bringing on site full well testing equipment and commencing flow tests,” Angus said.

Angus’s shares were down 3.8% at 3.83p.

10.30am: Octagonal shares slip after director ups [sic] his stake

Chris Rollason, a non-executive director of a subsidiary of Octagonal Plc (LON:OCT) has purchased 200,000 Octagonal shares at a price of 1.59p per share.

Rollason's total shareholding in the company is now 350,000 shares, representing 0.06% of the financial services company's issued share capital.

Why this should’ve prompted a 6.3% fall in the share price to 1.5p iss set to remain one of life’s mysteries.

9.30am: Two unglamorous stocks make the early running

Premier Technical Services Group PLC (LON:PTSG) said that its strong start to 2019 continued in the second quarter of the calendar year.

The firm, which provides lightning protection, cleaning and training solutions, said sales remain robust as contract renewal rates remain high and a number of significant three to five year contracts and framework agreements have been signed across all disciplines.

Meanwhile, the recently acquired Guardian and Trinity businesses are performing ahead of management’s expectations.

The shares were up 8% at 74.5p.

Full-year results from pumping, heating and cooling specialist Andrews Sykes Group PLC (LON:ASY) seemed to catch the market on the hop – in a good way.

Revenue in 2019 rose to £78.6mln from £71.3mln, feeding through to an increase in profit before tax to £21.0mln from £17.3mln in 2017.

At the end of 2018, the group had net funds of £23.4 million compared with £20.3 million at the end of 2017, despite shareholder related cash outflows of £10.5 million on ordinary dividends and share buybacks during the year.

The shares were up 6%.

Proactive news headlines:

Biodegradable plastics group Symphony Environmental International PLC (LON:SYM) says the European Commission has dropped plans for restrictions on the type of product it makes.

Oncimmune Holdings PLC (LON:ONC) said it has begun a large-scale study in China to assess the potential of its screening device in patients with early-stage lung cancer.

Advanced Oncotherapy PLC (LON:AVO) has secured more than £12mln additional funding to support ongoing work on a next-generation proton beam system.

Resources company Tharisa PLC (LON:THS) said production volumes and recoveries of both chrome concentrates and platinum group metals (PGMs) are on an upward trend.

StatPro Group PLC (LON:SOG) has signed a three-year deal with an EU investment manager carrying a minimum price tag of €1.2mln (£1.04mln). The firm, which provides cloud-based portfolio and analytics services to asset managers, said the customer already used its flagship Revolution Delta service but the deal added a new module to cover new EU money market regulations and provide risk reporting to regulators. 

Scancell Holdings PLC (LON:SCLP) has added six “world-leading” cancer specialists to its clinical advisory board as the drug developer prepares for its Modi-1 cancer treatment to enter the clinic early next year.

Bluejay Mining PLC (LON:JAY) has submitted the social and environmental impact report for its Dundas project in Greenland.

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