Idox PLC (LON:IDOX), the document management specialist, plunged 21% to 27p after its auditor uncovered an issue relating to its 2017 acquisiton of 6PM.
The item in question is preventing the delay of the results in relation to 2019 but does not have any impact on them or its future prospects.
In the meantime, the company said it believes it is well-placed to weather the coronavirus storm because of its high recurring revenue base, the high proportion of staff that work from home, and the limited exposure to the geographies currently most affected by the virus.
12.45pm: Time Out knocked out
Time Out Group PLC (LON:TMO) is not the best name to trade currently and the media group’s shares were down 21% at 64p today.
The magazine and events company announced the closure of five markets across the US and Portugal in response to local government guidelines over the coronavirus outbreak.
It added it cannot estimate the hit on full-year results given the uncertainty of the current situation.
11.30am: Cineworld slumps again as US box-office takings dive
Cineworld Group PLC (LON:CINE), which has been knocked for six by the coronavirus outbreak, shed another 37% at 27.99p this morning after a director resigned.
Helen Weir has served notice to quit as a non-executive director but it is unlikely that her departure is the reason for the latest share price slump; more likely is the expectation that the US box office is set to record its lowest weekend takings in more than two decades.
Comscore put weekend takings at US$55.3mln, which was the lowest level since 1998. Another 25 US cinemas closed their doors on Saturday, raising the number to around 109.
10.30am: Dialight in the dark
Dialight PLC (LON:DIA), which makes light-emitting diode (LED) lighting fixtures, fell 13% to 188.93p after its full-year results statement warned of challenging conditions.
"From a financial perspective 2019 was disappointing, in large part due to the significant costs (£10.2mln) associated with exiting from our outsource manufacturer, as previously highlighted,” conceded the group’s chief executive, Fariyal Khanbabi, as the company dived into the red with a £12.5mln loss (2018: profit of £7.4mln).
“Most of our end markets are likely to remain challenging short-term, exacerbated by the possible impacts of the COVID-19 virus,” he warned.
9.30am: Inspiration Healthcare and Novacyt boosted by big coronavirus-related orders
Inspiration Healthcare Group PLC (LON:IHC) shares, up 32% to 84.50p, were the top performers in early trade on Monday, bucking the massive coronavirus-induced market sell-off, after the medical technology bagged a big order.
The company said the UK National Health Service has made an order for the immediate supply of ventilators totalling £1.25mln. This is the single largest order Inspiration Healthcare has ever received and is directly in response to the preparations being made by the Department of Health and Social Care to deal with the coronavirus situation in the UK.
The order will be satisfied in the coming weeks and is for ventilators that are typically for use on adults in transport.
Sticking with the coronavirus theme, Novacyt SA (LON:NCYT) climbed11% higher to 125p after an update on the coronavirus diagnostic test developed by Primerdesign, its molecular diagnostics division.
Following the completion of Public Health England's formal evaluation of Primerdesign's COVID-19 test, as announced on 12 March 2020, the government agency has commenced ordering the test. Orders are initially for eight hospitals to provide stocks in those locations for four weeks of planned testing.
The total value of the initial purchase is about £1mln, which is the single largest order the company has received to date for its COVID-19 test.
Proactive news headlines:
Bidstack Group PLC (LON:BIDS) has inked an exclusive deal with video game developer Codemasters Group Holdings PLC (LON:CDM) to deliver in-game advertising for an upcoming 2020 title. The AIM-listed firm said that through the integration of its SDK product, brands and advertisers will be able to deliver contextually relevant ads in real-time to natural spaces within the game.
Westminster Group PLC (LON:WSG) said the supply of fever screening and associated equipment will represent a material element of its business this year. So far this year it has dealt with more than 500 enquiries from all over the world for fever detection and associated equipment, resulting in sales of roughly US$720,000; last year, it had no enquiries about its fever detection capabilities.
Ceres Power Holdings PLC (LON:CWR) expects full-year revenue growth to roughly match the 33% year-on-year increase achieved in the first half of its financial year. The fuel cell and electrochemical technology company that has the backing of Bosch, the German engineering and technology giant, saw total revenue and other operating income rise to £11.04mln in the six months to the end of December 2019, up from £8.27mln in the same period of 2018.
EQTEC PLC (LON:EQT) has signed a collaboration framework agreement with the German engineering, procurement and construction company, ewerGy. The five-year agreement covers the key terms of the proposed cooperation for the development of a portfolio of projects in Greece and the Balkan region. The parties have identified 11 potential projects in the pipeline; two are under development, with the remaining projects under due diligence.
Open Orphan PLC (LON:ORPH) has noted that the results of a successful phase IIb trial of a potential flu vaccine being developed by a joint venture have been written up in a peer-reviewed article carried by a scientific journal. The data from FLU-v 004 challenge study underlined its ability to reduce mild-to-moderate symptoms of the illness. FLU-v has been developed by Imutex, 49%-owned by Open Orphan unit hVIVO, as the first 'universal', broad-spectrum influenza vaccine.
Jersey Oil & Gas PLC (LON:JOG) will lead a technical and commercial evaluation of Greater Buchan Area (GBA) of the North Sea, the oil field developer said on Monday. In a statement, the AIM-listed firm said it will assess whether a collaboration between the companies holding licences in the vicinity would result in a decrease in cost and an increase in value.
W Resources PLC (LON:WRES) has noted that the Extremadura region in Spain, where its La Parrilla tungsten mine operates, is one of the areas least affected by coronavirus in-country. In an operations update, the group noted that region's low population density and the large distances between big cities has helped to reduce the speed of transmission. The confinement measures implemented in Spain since Sunday 15 March are strict and W Resources said its operations are in full compliance with all such measures.
Quadrise Fuels International PLC (LON:QFI) said its MSAR pilot trial has been delayed after the client began restricting site access for external contractors as a precaution due to the coronavirus outbreak. The AIM-listed company said no revised trial schedule has yet been indicated and further announcements in relation to the situation in Morocco will be made “in due course”.
G3 Exploration Ltd (LON:G3E) said restructuring at the group reached a new phase after joint provisional liquidators filed a second report on 13 March. The liquidators have been tasked to preserve and protect G3’s assets and identify any opportunities which may exist to restructure or refinance the company. "I am happy to report no employee has been infected by the coronavirus to date and we expect to gradually assume increased work duties by month-end,” chairman Randeep Grewal also revealed in a corporate update.
Vast Resources PLC (LON:VAST) has spent the weekend responding to the declaration of a state of emergency in Romania, where it operates the Baita Plai polymetallic mine. The company said it is putting in place all the necessary precautions to adhere to the government guidelines whilst ensuring it maintains the implementation programme to bring Baita Plai into production with minimal disruption in order to meet the timeframe stated in the previous announcement made on 11 March 2020.
Gfinity PLC (LON:GFIN) has conducted a strategic review into its operations and updated on its performance amid the ongoing coronavirus outbreak. The group added that challenging market conditions had been exacerbated by the “unprecedented impact” of the coronavirus, with two major events that the company had designed for clients, due to take place in July, having now been suspended as a result of the outbreak.
Sirius Minerals PLC (LON:SXX) saw trading in its shares suspended as at 7:30am on Monday 16 March 2020. The suspension comes ahead of the implementation of the acquisition of the company by Anglo American (LON:AAL), which is due on 17 March, and on which date the shares will be cancelled.
Futura Medical PLC (LON:FUM) said it will announce its audited results for the year ended 31 December 2019 on Wednesday, 1 April 2020. It added that James Barder, its chief executive officer, Angela Hildreth, finance director/chief operating officer, and Ken James, executive director and head of R&D, will host a webcast for analysts on the day of the results, which will be made available within the investor centre section of the company's website. In light of growing concerns regarding COVID-19, the company has decided to cancel its scheduled investor seminar, to be held on 26 March 2020.
Applied Graphene Materials PLC (LON:AGM), the producer of speciality graphene materials, said it will be announcing its interim results for the period ended 31 January 2020 on 25 March 2020.