Accident-prone recruitment firm Staffline Group PLC (LON:STAF) shed 6.8% at 152.8p after its auditor resigned.
The recruitment firm’s shares were previously suspended at the end of January after it delayed the publication of its final results amid concerns over its invoicing and payroll practices.
The company is putting the auditor gig out to tender after the accounting blunder; the existing auditor, PricewaterhouseCoopers said it would not be applying for a renewal of its role.
2.45pm: Eco (Atlantic) Oil & Gas share price soars on major oil discovery offshore Guyana
Eco (Atlantic) Oil & Gas Ltd (LON:ECO, CVE:EOG) soared 73% to 117.5p after announcing a major new oil discovery in the Orinduik block offshore Guyana.
The explorer said the Jethro-1 well had encountered a high-quality oil-bearing sandstone reservoir with 55 metres (180.5 feet) of net pay.
It is a significant and transformational discovery for Eco not least because it proves that the very large and prolific oil system present in Exxon’s next-door discoveries continue into the Orinduik area.
1.40pm: Mortice's share buyback fails to provide a share price lift
The market was not very impressed with the latest share repurchase by Mortice Limited (LON:MORT), the security and facilities management company.
The shares were off 2p at 10p after the company revealed it had purchased 2.8mln shares at 12p each for cancellation.
The company said 5.32mln shares still remain available for repurchase under the company's share buyback programme.
12.35pm: Thomas Cook in talks with creditors for a cash top-up
Running out of money on holiday is a nightmare. Running out of money when you are a holidays operator is too, as shareholders in Thomas Cook Group PLC (LON:TC) are discovering.
The shares plunged 16% to 8.1p after tour operator revealed it is in talks with creditors over the injection of an extra £150mln that will support the travel company through the coming “low cash” winter period.
11.30am: ADM Energy's shares plunge after selling shares at a hefty discount
ADM Energy PLC (LON:ADME) shares plunged by a sixth to 16.25p after it announced the results of its recent share offer.
The company, formerly known as MX Oil, raised roughly £500,000 by issuing 3.12mln shares at 16p a pop.
The funds raised will be used for general working capital purposes, to allow the company to appraise further investment opportunities and to provide funds for investment.
10.30am: M&C Saatchi warns of (what it hopes will be) one-off charges
Advertising agency M&C Saatchi Plc (LON:SAA) is to take a one-off exceptional charge of £6.4mln in its results for 2019.
The charge follows an internal accounting review of the company's UK subsidiaries, and includes £4.9mln of “specific issues identified in the review”.
The shares fell 23% to 260p as the company said that to make sure it had identified all of the issues it would be appointing independent advisors to poke around in the accounts; it is also setting aside an extra £1.5mln just in case the independent review finds any more skeletons in the closet.
Ad shop M&C Saatchi tumbles 20% after disclosing accounting issue https://t.co/E7OFbx1DaH
— fastFT (@fastFT) August 12, 2019
9.30am: Ironveld hitches its skirt to potential investors
Ironveld PLC (LON:IRON) shares hardened 0.33p to 1.07p as the company confirmed it is engaged in takeover talks with several parties.
Ironveld is currently in the process of providing those parties with further information on the company's assets and access to the company's site, management and advisers.
Ironveld said it is encouraged by the level of interest it has received to date.
Cambridge Cognition Holdings PLC (LON:COG) is to expand into the Chinese market with its Cambridge Neuropsychological Test Automated Battery computerised assessments.
The shares rose 1.6% to 63p on the news.
Cambridge Cognition said the expansion would strengthen its global position, following up on the major opportunity in India announced earlier this year.
Proactive news headlines
Circassia Pharmaceuticals PLC (LON:CIR) has hired one of Pfizer’s top executives to become its first chief operating officer. Jonathan Emms, who has held several senior positions at both Pfizer and GlaxoSmithKline PLC (LON:GSK), will join the respiratory drug specialist next month.
Thor Mining PLC (LON:THR)(ASX:THR) has received further assay results from the second metallurgical bulk sample drill hole at the company's wholly-owned Molyhil tungsten molybdenum deposit in the Northern Territory of Australia.
Quadrise Fuels International PLC (LON:QFI) has signed an agreement with a European oil refiner to develop a potential project for its MSAR synthetic fuel oil.
Bluejay Mining PLC (LON:JAY) has received an export permit from the government of Greenland for the shipment of the 40,000 tonnes of run of mine bulk sample material from the Dundas ilmenite project to be processed at the company's pilot processing plant in Quebec, Canada.
Benchmark Holdings PLC (LON:BMK) is hopeful that a string of prospective licensing deals for its non-core animal vaccines will help to offset “challenging” conditions in the shrimp and seabass/ bream markets.
Angling Direct PLC (LON:ANG) sales continued to rise in the first half of its current year, while the fishing tackle retailer also unveiled a new store in Leeds as part of its expansion plans.
OptiBiotix Health PLC (LON:OPTI) continues to see commercial traction for its functional food technology. In the latest of a series of similar deals, the company said it had signed an exclusive manufacturing, supply and distribution agreement with Brisbane-based dairy supplier Maxum Foods for its SlimBiome weight management product.
Shanta Gold Ltd (LON:SHG) has booked revenues of US$53.6mln during the first half 2019 on the production of 42,230 ounces of gold from its New Luika mine in Tanzania.
Eco Atlantic Oil & Gas Ltd (LON:ECO, CVE:EOG) has announced a major new oil discovery in the Orinduik block offshore Guyana.
The investment firm Tekcapital PLC (LON:TEK) said one of its portfolio companies has filed for an additional patent to protect its low-sodium salt.
Kodal Minerals PLC (LON:KOD) says it is seeking clarification over the status of £200,000 expected from stockbroker SVS Securities. The money was part of a £575,000 funding in July and due to be transferred today, but SVS went into administration last week.
Amphion Innovations PLC (LON:AMP) has sold 100,000 shares in lung scanning device maker Polarean Imaging PLC (LON:POLX) to reduce its outstanding debts. Following the sale, Amphion holds a 15.97% stake in Polarean.
Katoro Gold Plc (LON:KAT) has appointed SI Capital Ltd as a broker with immediate effect as it looks to advance its projects in Tanzania. “As mentioned recently, we are actively looking to increase the current combined JORC compliant gold resource at Imweru while continuing to develop Haneti in tandem with AIM-listed Power Metal Resources plc, who are farming into this highly prospective project,” said chief executive Louis Coetzee. “ I am bullish about the commodity basket that Katoro offers and I look forward to updating the market on further news as we advance the portfolio up the value chain."
Oracle Power PLC (LON:ORCP) has raised £500,000 through a share placing to pay off debt. The placing will be issued with one warrant for each share. Brandon Hill Capital Limited has agreed to take a 22.53% stake in the firm as part of the placing.
Mosman Oil & Gas Ltd (LON:MSMN) said drilling at the Stanley 3 well in Texas has been completed on time and on budget after reaching a target depth of 5,100 feet.