logo-loader

FireAngel Safety feeling the heat

Last updated: 15:12 14 Jun 2019 BST, First published: 09:14 14 Jun 2019 BST

Smoke alarm

3.15pm: Alarm bells ringing at FireAngel 

FireAngel Safety Technology Group PLC (LON:FA.) was one of the day’s major fallers, slumping 13% to 40.5p after yesterday’s disclosures about chairman John Conoley’s track record.

The developer of home safety products announced late yesterday afternoon that Conoley was a director of Convergent Communications PLC until 15 April 2003. Within 12 months of Conoley ceasing to act as a divisional director, Convergent entered administration.

Similarly, within 12 months of Conoley ceasing to act as a director of Crosshouse Holdings, Crosshouse entered administration and was dissolved on 15 April 2005.

Conoley became non-executive chairman of FireAngel in January of this year.

1.00pm: Chairman and CEO dive in to buy Shearwater shares

Shearwater Group PLC (LON:SWG) shares climbed 7% to 2.30p after senior management at the data technology firm splashed out on shares.

The company announced that an investment vehicle of chairman David Williams bought 2.5mln shares at 2.18p a share, while VJM Investments, a company closely associated with the chief executive officer, Phil Higgins, bought 2.25mln shares at 2.19p a pop.

Since hitting a 52-week low of 1.375p in April, Shearwater shares have been on the recovery trail but remain at less than half the level they were a year ago.

12.15pm: BlueRock Diamonds sells its largest discovered diamond for US$190,000

BlueRock Diamonds PLC (LON:BRD) sparked in lunchtime trading, rising 17% to 0.12p, after it sold a 24.98 carat diamond for US$190,000 at auction.

"We are delighted with the sale of our largest diamond to date, a 24.98 carat gem quality stone, which showcases the potential of Kareevlei,” said Mike Houston, executive chairman.

Prior to the latest discovery, the largest diamond BlueRock had recovered was 16.28 carats, which sold for US$78,947.

11.30am: Gloves come off in the Frontier Smart-Science Group stand-off as potential new bidder emerges

Frontier Smart Technologies Group Ltd (LON:FST) climbed 13% to 35.54p after it revealed it had received a tentative bid approach.

The company is currently under siege from Science Group PLC (LON:SAG), which is interested in using its 28.3% stake in Frontier as a platform for a full bid.

Frontier said the approach is from a “credible industry player”; the board is urgently seeking to clarify the pricing, conditionality and deliverability of the approach by the rival suitor.

10.45am: MYCELX muddies the waters with a profit warning

MYCELX Technologies Corporation (LON:MYX), the clean water technology company, was the biggest faller in London on Friday after it issued a profit warning.

The company said it had a strong first quarter in 2019 but is facing delays in previously anticipated project bids. A significant number of these have either moved to 2020 or the start date has been delayed to later this year.

As a result, the company has lowered guidance on underlying earnings (EBITDA) to about US$2.5mln.

10.00am: Immotion bounces as it inks deal for free-roaming VR content with MGM-backed studio

Immotion Group PLC (LON:IMMO) climbed 5.7% to 11.2p after it signed a three-year deal with Survios, a virtual reality (VR) studio.

The immersive VR group said Survios, which is backed by media firm MGM, would install its experience, known as Raw Data, into Immotion’s VR Arena, a four-person free-roaming enclosure that allows users to participate in games together.

Raw Data is an interactive science-fiction themed first-person shooter game and is the first consumer VR game to reach US$1mln in monthly sales. The exclusive deal with Immotion will see the game offered as a multi-player VR arena version for the first time in the ‘out of home’ VR market.

9.15am: Biome lifted by bioplastic product update; Cerillion surges after bringing home the bacon with Danish contract win

A bullish revenue forecast for a new heat-stable material developed by Biome Technologies PLC (LON:BIOM) sent the company’s shares surging 8.8% higher to 370p in early trading on Friday.

The company revealed commercial production of the material has commenced in the USA. The material has a range of applications, including the previously announced projects for disposable cutlery and a rigid ring for the coffee pod market.

The board now expects revenues for the Bioplastics division for the second quarter to be about £750,000, up from roughly £600,000 in the preceding quarter and £500,000 in the corresponding quarter of 2018.

Cerillion PLC (LON:CER), the billing, charging and customer relationship management software developer, charged 8.7% higher to 150.5p after securing a major new contract.

The contract, worth an initial £5.1mln, is with the Danish telecom and utility company, SE Group.

Cerillion has demonstrated a strong track record of implementations and has an impressive portfolio of customers,” said Niels Duedahl, the chief executive officer of SE Group.

Proactive news headlines:

Faron Pharmaceuticals Oy (LON:FARN) has found more evidence to support its hypothesis on the mystifying outcome of a trial of its interferon-beta drug Traumakine.

Highlands Natural Resources PLC (LON:HNR) has launched a new cannabidiol (CBD) brand in the US with the first shipment of products due to start next week.

Immotion Group PLC (LON:IMMO) has signed a three-year deal with Survios, a virtual reality (VR) studio backed by media firm MGM, for content to install in its new VR Arena.

Taptica International Ltd (LON:TAP) announced that it has approved a further share buyback programme of ordinary shares for an aggregate purchase price of up to US$10mln. The group said the buyback programme, which forms part of its broader strategy to deliver shareholder value, will be independently managed by its broker, finnCap which will make trading decisions independently and without the influence of the company.

Asiamet Resources Ltd (LON:ARS) brought the market a trio of updates, all from the Beruang Kanan Main (BKM) project. The company revealed that a ‘detailed and comprehensive’ feasibility study has confirmed a robust project based on open pit mining and solvent extraction-electrowinning (SX-EW) copper heap leach processing.

Frontier IP Group PLC’s (LON:FIPP) portfolio firm Exscientia has entered a drug discovery collaboration with Shanghai-based biotech firm GT Apeiron Therapeutics.

Live Company Group Plc (LON:LVCG) saw revenues surge in 2018 as the media group targeted continued expansion of its BRICKLIVE brand in the current year.

Kore Potash PLC (LON:KP2) has secured a US$13mln fundraising to continue development of its Kola project in the Republic of Congo over the coming 12 months.

Bluebird Merchant Ventures Ltd (LON:BMV) said it was “largely debt free” and has cleaned up its balance sheet, as it looks to begin construction to reopen two mines in South Korea.

CentralNic Group PLC (LON:CNIC), the internet platform that derives revenue from the worldwide sales of internet domain names, has said its acquisition of KeyDrive SA on 16 July 2018, has exceeded the performance expectations set for FY2018. As a result, it added, an additional consideration of US$ 6,834,000 is payable to vendor Inter.Services, US$1,025,100 of which has been settled in cash, with the remainder settled by the issue of 7,384,978 additional consideration shares. This will see Inter.Services holding in the company increase to around 19.9% from circa 16.4%.

APQ Global Limited (LON:APQ), the AIM-listed emerging markets growth company announced that as at the close of business on 31 May 2019, its unaudited book value per ordinary share was 89.54 US cents, equivalent to 71.04p.

Shefa Yamim (LON:SEFA), a company focused on advanced exploration and development of multi-gemstone projects in Northern Israel, announced that, further to the passing of the resolution at its Annual General Meeting on 23 May 2019, its change of name to Shefa Gems Ltd has completed with effect from today.

 Bezant Resources PLC (LON:BZT), the copper-gold exploration and development company, announced that it has uploaded two new fly-through videos for its Mankayan copper-gold project in the Philippines to the China-based video platform "Youku" in both Standard Chinese and English.

Impax Environmental Markets PLC (LON:IEM) announced that details of its portfolio as at the month end 28 February 2019 are now available on the company's website.

Polarean Imaging PLC (LON:POLX), the medical-imaging technology company, with a proprietary drug-device combination product for the magnetic resonance imaging (MRI) market, announced that it held an Investor Symposium for investors yesterday, with the presentations now available to view on the company website.

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

21 minutes ago