B.P Marsh & Partners PLC (LON:BPM) shares dropped after saying it expects to see a drop in the valuation of a company it owns a controlling stake in.
National IFA firm LEBC, which is 59.3% owned by B.P Marsh, has agreed to give up its defined benefit pension transfer permissions following a review by the Financial Conduct Authority.
BP Marsh said the "current situation will reduce LEBC's valuation".
Shares declined 17.7% to 218p.
Edenville Energy Plc (LON:EDL) shares surged 42% to 0.075p after saying it has received the second cash payment from its funding agreement with Lind Partners.
A payment of US$50,647 was made on Friday, leaving a balance of US$934,087 outstanding.
The company will use some of the proceeds to develop its Rukwa coal project in southwest Tanzania.
2.00pm: MySale shares slip as it launches open offer to raise £2.1mln
Shares in online retailer MySale PLC (LON:MYSL) slid 10% to 2.6p after launching an open offer to raise £2.1mln.
The open offer includes the issue of more than 102.8mln at 2p each.
Last month the company said it was looking to raise at least £10mln through a heavily discounted placing of shares to help manage its short-term funding requirements and repay and restructure existing bank facilities.
It plans to sell down nearly all of its “own-buy” stock, thus removing the requirement to have working capital tied up maintaining stock levels.
Cabot Energy PLC (LON:CAB) shares jumped 39% to 4.8p after saying it has entered into a term-sheet with a private energy lender for a C$5mln loan.
The loan will be used to fund a winter work programme which will comprise four new horizontal development wells to
Additionally, Cabot has signed a share subscription agreement with High Power Petroleum LLC (H2P), an existing significant shareholder in the company, which will see some US$300,000 of new capital raised to support a summer work programme.
Further funds could be raised via an open offer to qualifying existing shareholders, including H2P which can purchase up to US$700,000 of additional new shares.
11.50am: Distil shares jump as it launches rum and coke drink with Franklin and Sons
Distil PLC (LON:DIS) shares jumped after announcing it would soon launch a pre-mixed rum and coke drink in collaboration with Franklin and Sons.
The 250mln can will combine Distil’s RedLeg Spiced Rum with Franklin’s 1886 Cola, vanilla, ginger and a twist of lime.
Distil said the product “raises the bar” in the pre-mixed spirit and mixer cans category. It added that rum is currently worth £367mln in the UK off trade with spiced rum growing at just under 13% in value each year.
Shares rose 21% to 1.0p.
Amiad Water Systems Ltd (LON: AFS) shares gushed higher after confirming reports that it is in talks with major shareholder FIMI Opportunity Funds about a potential investment in the water treatment and filtration firm.
FIMI is considering investment in Amiad through the placing of new ordinary shares.
“The discussions have not yet materialised into a signed agreement and any placing will remain subject to a number of pre-conditions, including the approval processes of the company,” Amiad said.
“There is no guarantee that the discussions will lead to an investment in the company.”
Shares grew 14% to 250p.
9.40am: AB Dynamics shares gain as it buys US firm Dynamic Research
AB Dynamics PLC (LON:ABDP) shares moved higher after buying US engineering products supplier, Dynamic Research Inc., for up to US$12.7mln.
The company, which makes advanced testing systems and measurement products for the automative sector, said the deal would expand its international footprint and complement its existing business.
The acquisition was completed on a cash free, debt free basis.
Shares rose 1.3% to 2,785p in morning trading.
Ashley House PLC (LON:ASH) shares increased 3.2% to 4.75p after one of its long-awaited extra care facilities reached financial close following months of legal delays.
The 54-apartment building in Romsey was built by Morgan Ashley – the company’s joint venture with Morgan Sindall.
The financial close comes after lengthy legal delays, which have also affected two of the joint venture’s other schemes.
Anglo Pacific Group PLC (LON:APF) gained 2.4% to 192p after saying it is acquiring a 1.525% net smelter return royalty or NSR over all copper produced at the Mantos Blancos copper mine in Chile, owned by Mantos Copper.
The consideration is US$50.25mln in cash.
Going the other way, shares in Maintel Holdings plc (LON:MAI) dropped 3.4% to 425p as it announced the departure of chief executive Eddie Buxton by the end of December by “mutual agreement”.
The communications and managed services provider revealed the news alongside a swing to pre-tax profit of £1.5mln for the first half of the year from a loss of £0.3mln a year ago despite a 3% decrease in revenue to £64.5mln.
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CentralNic Group PLC (LON:CNIC) reported a tripling of underlying revenue and earnings and said it is confident that full-year results will be around the top end of current market forecasts.
Seeing Machines Limited (LON:SEE) has been awarded an expanded program for its FOVIO driver monitoring system (DMS) with an existing customer, a European original equipment manufacturer.
BlueRock Diamonds PLC (LON:BRD) shares sparkled on Monday after the miner reported that revenues and production had more than doubled in its first half.
One of Ashley House PLC’s (LON:ASH) long-awaited extra care facilities has reached financial close after months of legal delays. The 54-apartment building in Romsey was built by Morgan Ashley – the company’s joint venture with Morgan Sindall.
Seeing Machines Limited (LON:SEE) has been awarded an expanded program for its FOVIO driver monitoring system with an existing customer, a European original equipment manufacturer.
Hurricane Energy Plc (LON:HUR) says the Lancaster field’s early production system has been operating “above guidance”. Between first oil on 4 June and 17 August, production averaged 14,400 barrels of oil per day.
Tekcapital PLC’s (LON:TEK) portfolio firm, Salarius, has received a registered trademark for a range of low sodium snacks as more companies began testing its MicroSalt product.
Kavango Resources PLC (LON:KAV) has signed a memorandum of understanding with LVR GeoExplorers Ltd to farm into two prospecting licences in the Botswana section of the Kalahari copper belt.
Motif Bio PLC (LON:MTFB) said it will pay interest only on its loan from Hercules Capital after the latter pushed out the latest amortisation date a month to October 1 to support Motif’s cash management efforts.
Faron Pharmaceuticals Oy (LON:FARN) said recent data from its Clevegen phase I/II study will be the subject of a poster presentation at a world-leading cancer conference.
C4X Discovery Holdings plc (LON:C4XD) will work with a renowned industry veteran who will create and lead its drug discovery network.
Mosman Oil And Gas Ltd (LON:MSMN) told investors that it had identified several potential oil pay zones in the Stanley-3 well.
Metal Tiger Plc (LON:MTR), the natural resource investor, has closed its initial investment of A$500,280 into Australian group Cobre Pty Ltd, representing around a 15% stake.
Kodal Minerals PLC (LON:KOD) closed out the year to end March 2019 with cash of £1.4mln, according to the company’s latest set of financial results.
Coinsilium Group Limited (LON:COIN) has hailed progress from Indorse, a company in which it holds a 10% stake, following an agreement where India’s largest media house invested up to US$6.5mln in the firm.
Europa Metals Ltd (LON:EUZ) has completed a new drillhole at the Toral lead-zinc-silver project in Spain.
Cabot Energy Plc (LON:CAB) has updated on its financing arrangements as it enters into a term-sheet for a C$5mln loan. The non-binding term sheet with a private energy lender is expected to be at asset level and would be non-recourse to Cabot.
Sure Ventures PLC (LON:SURE) has increased invested another €2.5mln as a number of companies in the portfolio approach the next round of funding.
Location Sciences Group PLC (LON:LSAI) has appointed digital advertising veteran Michael Iantosca to its advisory panel to advise the company on its US growth strategy.