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Steppe Cement drops like a stone

A look at the day's major movers, including Maxcyte, Totally and SIG

Resignation

Shares in Steppe Cement Ltd (LON:STCM) sank like a stone to 27p (down 7.5%) after the company reported a decline in third-quarter revenue.

Third-quarter 2019 revenue of KZT10,560mln was 10% lower than revenue of KZT11,696mln achieved in the corresponding quarter of 2018.

The average price (excluding value-added tax) achieved for delivered cement was KZT18.157 per tonne in the first nine months of 2019, up from KZT16,161 per tonne in the same period of 2019.

11.30am: Upland visits downland as CEO quits

Upland Resources Ltd (LON:UPL) was visiting downland after its chief executive officer, Stephen Staley, resigned, sending the shares 13% lower to 1.65p.

Staley quit with immediate effect for personal reasons. Company director Christopher Pitman will take over as interim chief executive.

Pitman has a significant track record of leading campaigns to open up new emerging petroleum plays both through high impact exploration and with the application of technology to existing petroleum discoveries, according to Upland.

10.30am: Aeorema shares wanted after company reveals the BBC is a customer

Shares in Aeorema Communications PLC (LON:AEO), the live events agency, rose 3.3% to 31p, after it said it is doing some work for the BBC.

The company will be in Cannes this week preparing an event space for BBC Studios ahead of the forthcoming annual MIPCOM symposium which takes place 14 to 17 October 2019.

The company has produced events at Cannes Lions International Festival of Creativity for many years but this is the first time that it has undertaken a project at MIPCOM Cannes.

9.45am: Maximum excitement for Maxcyte

Maximum excitement for Maxcyte Inc’s (LON:MXCT) shareholders, with the shares up 3.4% at 123.5p after the company announced a licensing agreement.

The company’s technology for engineered cell mechanisms is to be used by Nasdaq-listed genome specialist Editas Medicine for diseases such as sickle cell anaemia and blood disorders.

Through the non-exclusive deal, Editas has clinical and commercial rights to MaxCyte's Flow Electroporation and ExPert platforms to develop up to five therapies including four in immuno-oncology.

8.45am: Totally wins after contract news but profit warning sends SIG PLC plunging

Totally PLC (LON:TLY), which provides services to the UK healthcare sector, shot up 4.4% to 9.45p on the back of contract news.

The company announced two contract extensions, worth a total of about £16.6mln, that were awarded to its wholly-owned subsidiary Vocare, which provides urgent care services.

“Such extensions are significant achievements in our business and are a great reflection of the work our staff are doing in delivering quality care to the high standards required by commissioners,” said Wendy Lawrence, the chief executive officer of Totally.

SIG PLC (LON:SHI) has issued its second profit warning in as many months, sending its shares down by more than a fifth.

The FTSE 250 company said the deterioration in UK construction activity has accelerated in some of its key markets in the last few weeks, as had been indicated in recent purchasing managers’ index (PMI) data.

Full-year profits in both the specialist distribution and roofing merchanting businesses are expected to be “significantly lower” compared to previous expectations, the building materials supplier revealed.

Proactive news headlines

Integumen PLC (LON:SKIN), the developer of Labskin technology, has signed multi-year agreements with two top-10 global cosmetic companies for recurring LabskinAI services.

Angling Direct PLC’s (LON:ANG) half-year revenues rose by a fifth as new stores chipped in, customers spent more and online sales grew strongly.

E-Therapeutics PLC (LON:ETX) says multiple proposals for its artificial intelligence-based drug research products have been sent to potential partners and customers.

Argentex Group PLC (LON:AGFX), the recently listed provider of foreign exchange services to institutions, corporates and high net worth private individuals, generated revenues of £9.3mln in just over three months since its AIM flotation.

Maxcyte Inc’s (LON:MXCT) technology for engineered cell mechanisms is to be used by Nasdaq-listed genome specialist Editas Medicine for diseases such as sickle cell anaemia and blood disorders.

Franchise Brands PLC (LON:FRAN) has acquired Willow Pumps to expand its existing drain care and repair business, Metro Rod.

Genedrive PLC (LON:GENE) has received approval from the NHS Health Research Authority to start testing its Antibiotic Induced Hearing (AIHL) test in hospital trials.

Real-time technologies company BATM Advanced Communications Limited (LON:BVC), has souped-up its cyber-security offering to make it compatible with devices using the Arm architecture.

Bezant Resources PLC (LON:BZT) has entered into a conditional transaction agreement to sell an 80% interest in the Mankayan copper project.

Kalahari Metals Ltd, a company in which Metal Tiger Plc (LON:MTR) holds a 59.8% interest, has identified veinlet and disseminated sulphide copper mineralisation in drilling on its licences in Botswana.

Quadrise Fuels International PLC (LON:QFI) chairman Mike Kirk has, in its financial results statement, described “a hugely important year” for the company with significant progress made towards unlocking a broader range of opportunities.

Jersey Oil & Gas Plc (LON:JOG) has hired Rockflow Resources and Petrofac Facilities Management for services on the Greater Buchan Area development project.

i3 Energy Plc (LON:I3E) late in Friday’s session announced that drilling had begun for the Serenity appraisal well in the UK North Sea, the second in a series of three new wells being drilled by i3.

Crossword Cybersecurity PLC (LON:CCS) said its chief executive Tom Ilube and senior adviser Nick Jennings have been included on a list of the 1,000 most influential people in London. 

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