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Triad shares lose a few digits

A look at some of the major movers in London on Thursday

Modern Water PLC -

Triad Group PLC (LON:TRD) shares were chopped 11.11% lower to 28p on Thursday afternoon trading after the technology consultancy group revealed it had swung to a loss in the past year. 

The AIM-listed group reported a loss before tax of £0.6mln for the 12 months to March 31, compared to a £1.0mln profit a year earlier, as revenue dropped 15% to £19.4mln.

Despite the connections between the company’s name and Hong Kong gangsters, it recently won an extension to its ongoing contracts with the UK Ministry of Justice, with Triad consultants “playing a part in delivering one of the biggest programmes of change experienced within the justice system”.

2pm: Actual Experience surges after Verizon highlights working-from-home uses

Actual Experience PLC (LON:ACT) shares ascended 30% to 48p after the analytics software company was mentioned in despatches by one of its major customers, Verizon.

A white paper published by Verizon and Boston Consulting Group highlighted how the US telecoms and digital media giant has been using a tool from Actual Experience to measure digital productivity of people who are working from home.  

With the working-from-home boom during the coronavirus lockdown driving demand for digital tools such as Zoom, Microsoft Teams and many others, the Bath-based company said its software “can analyse the human experience of thousands of home offices simultaneously, swiftly providing actionable information to recover lost productivity, and providing an ongoing analytics capacity to manage human experience”.

12.50pm: Petards derailed by eyeTrain delay

Petards Group PLC (LON:PEG) tumbled 16% to 6.95p after full-year results from the surveillance systems specialist disappointed.

The company slipped into the red in 2019 with a loss before tax of £1.46mln versus a profit in 2018 of £570,000.

The lowlights were a major customer re-scheduling eyeTrain system deliveries in the last quarter into 2020, and much lower than forecast profitability on two other rail projects.

12.30pm: Carnival sinks as it posts a whopping loss

Carnival PLC (LON:CCL) shares were the biggest fallers on the FTSE 100, down 7.3% at 1,168p, after the cruise ships operator posted a whopping loss.

For the three months ended May 31, the firm reported a net loss of US$4.4bn, which included a US$2bn impairment charge, while revenues plunged to just US$0.7bn compared to US$4.8bn in the prior year.

The firm said most of its cruise operations were paused during the quarter, adding that it was “unable to definitively predict when it will return to normal operations”, adding that it also expected to report a net loss for the second half of the year.

10.30am: Contango Holdings off to a flying start after reverse takeover

Contango Holdings PLC (LON:CGO) shares were trading 20% higher at 4.5p after the former cash shell started its new life as a mining company.

The company recently completed a reverse takeover through the acquisition of a 70% stake in the Lubu Coalfield Project in Zimbabwe.

"The remaining months of 2020 are set to be punctuated with high impact news flow as we look to deliver first production and revenues from Lubu by the end of Q4,” predicted Carl Esprey, the executive director of Contango.

9.30am: Modern Water unveils plans to launch online offering

Modern Water PLC (LON:MWG) was 6.8% firmer at 2.13p in early deals on Thursday after it unveiled plans to bring its business and a suite of water monitoring solutions online.

The water crisis monitoring specialist has launched a fully integrated e-commerce solution with a back-office and logistics platform, allowing clients and partners access to pricing, quotes, and equipment specifications.

The platform has a built-in knowledge centre where 30 years of water contamination monitoring domain expertise is available to all users. Dedicated account areas for clients and partners also provide dashboards showing the live and near-time state of water monitoring sites including up to date information on consumables.

Novacyt SA (LON:NCYT) shares jumped 8.3% to 260p after it announced the launch of three products to support coronavirus (COVID-19) testing.

The specialist in clinical diagnostics said the three products comprise two RNA extractions kits for use before running a polymerase chain reaction test for COVID-19 and a high-throughput test for COVID-19.

“We believe there will be significant demand for our new extraction kits, particularly at this time when automated RNA extraction reagents are in short supply. In addition, our high-throughput test, for use in large volume clinical laboratories, should enable more efficient workflow which is critical to achieve optimal testing volumes. We look forward to continuing to work with our customers to support their testing requirements through new and innovative solutions,” said Graham Mullis, the chief executive officer of Novacyt.

Proactive news headlines:

Corero Network Security PLC (LON:CNS) has announced five new customer wins for its SmartWall DDoS protection products over the last two months totalling over US$1.5mln. The new customers consist of a major US telecoms and internet service provider, a European based communication and cloud solutions provider, a major provider of hosting services across Canada, a wholesale telecoms operator which operates across Latin America and a UK-based provider of internet, mobile and telephony services to UK island and overseas territory jurisdictions. Corero said the deployment of its solutions will enable all of the new clients to provide DDoS protected services to their end customers.

Block Energy PLC (LON:BLOE) chief executive Paul Haywood said the company remains “enthusiastically active on many fronts” as the firm updated on developments at the West Rustavi field in Georgia. The group noted that key equipment is arriving at the West Rustavi field and a new contractor is being brought on board to help advance projects. Block pointed out, however, that production remains shut-in due to the coronavirus pandemic although the Republic of Georgia is presently at the beginning of a phased approach to restart businesses following lockdown.

Jubilee Metals Group PLC (LON:JLP) said it has secured the rights to around 150mln tonnes of copper-containing tailings to be refined at its Sable refinery in Zambia. The metals processing firm said the magnitude of the resource offered a “long term sustainable earnings profile” for its Zambian business, adding that the project holds the potential to produce copper concentrates in excess of the Sable refinery’s capacity of 14,000 tonnes per annum of copper cathode. Jubilee said it is aiming to increase the capacity of the refinery to over 25,000 tonnes of copper per year over time.

Synairgen PLC (LON:SNG) said a trial of its treatment for people with coronavirus (COVID-19) is being expanded nationally with participants receiving the inhaled drug in their homes. Meanwhile, results from the study of 100 patients successfully treated with the SNG001 treatment in hospital are set to be released next month. The roll-out of the trial beyond Southampton will be supervised via daily video calls with a doctor or nurse.

Panther Metals PLC (LON:PALM) has completed an open-file desktop review of its wholly-owned Marrakai Gold Project in the Northern Territory, Australia. Panther said the geological review, completed while the tenement was out of bounds because of the coronavirus (COVID-19) pandemic travel restrictions, highlights the potential for further gold mineralisation within the Marrakai project, with the eastern and western portions of the tenement remaining completely untested. The project is located within the Palaeoproterozoic Pine Creek Orogen, which hosts more than 250 gold occurrences and several operating mines.

Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLSA) has outlined a busy schedule for 2020 after making significant clinical and pre-clinical progress with assets spanning cancers, autoimmune and inflammatory diseases. The update was provided alongside full-year results for the 12 months to December 31, 2019. In the outlook statement, the company said preclinical studies are ongoing for its new technology to treat coronavirus (COVID-19) infections. Its approach consists of the direct delivery of anti-IL-6 receptor monoclonal antibodies into the lungs using a handheld inhaler or nebuliser. Additionally, Tiziana said it hopes to commence a trial investigating the direct delivery of an anti-IL-6 mAb to the lungs using a portable inhaler.

Polarean Imaging PLC (LON:POLX) has hailed a “year of great accomplishment” in 2019 as the company achieved a “major milestone” with a successful readout for its pivotal Phase III clinical trials in January. Posting its results for the year ended December 31, 2019, the medical imaging specialist noted that it had raised £2.1mln in a share placing in July as well as confirming the third tranche of US$1mln from a US$3mln small business innovation research grant. The company said it ended the year with net cash of US$2mln. Post-period, Polarean said it had received positive top-line results from its clinical trials using hyperpolarised Xenon gas, with both trials meeting their primary endpoint.

88 Energy Ltd (LON:88E) (ASX:88E) has declared its takeover bid for XCD Energy unconditional and said the offer won’t be increased. Earlier this week, 88 Energy reported that it had received acceptances representing 37.58% of XCD’s shares and it now confirms it has passed 59.27%. The company also noted that XCD shareholders which accepted the offer before it became unconditional will receive accelerated payment, before June 26, whilst subsequent acceptances will be paid within seven days of their acceptance being processed.

Quadrise Fuels International PLC (LON:QFI) has told investors it has now agreed in principle to the deployment of its MSAR alternative marine fuel trial equipment for a project managed by Valkor in Utah. Valkor is a partner with AIM-quoted TomCo Energy PLC (LON:TOM) for the enhancement of an oil sands plant in Utah which will be retooled for a production trial. The project will incorporate Quadrise’s MSAR technology which can be used to treat heavy oil products to create a low-cost alternative fuel. Quadrise said it has agreed to the MSAR deployment during Phase 1 of the project for a price of US$150,000 and it agrees to work in good faith with Valkor to finalise the process design and trial agreement.

Meanwhile, in a separate statement, TomCo said trading in its shares are suspended on AIM and noted that it is in talks with its broker regarding the status of the share placing it announced yesterday.

Ceres Power Holdings PLC (LON:CWR) said it has appointed two non-executive directors to its board representing two of its partners, Bosch and Weichai. Uwe Glock is the chairman of the board of management of Bosch Thermotechnik and joins the board of Ceres following the signing of the AIM-listed company’s relationship agreement with Robert Bosch in January 2020. Qinggui Hao is the investment director of Shandong Heavy Industry Group. He replaces Haoran Hu, who has served on the Ceres board as the Weichai-nominated non-executive director since December 2018.

Diversified Gas & Oil PLC (LON:DGOC), the US-based owner and operator of natural gas, natural gas liquids and oil wells and midstream assets has announced that shareholders who have elected to receive the final 2019 dividend of 3.50 cents per share in sterling will receive an equivalent payment of 2.74p per share, based on the June 9, 2020, exchange rate of GBP0.7842=US$1.00.

BB Healthcare Trust PLC (LON:BBH) said the investment companies team at Kepler Trust Intelligence has produced a new piece of investment bank quality research about the trust, designed to provide a clear and comprehensive reference for long term investors. This note is free to read for UK investors an can be read in full via: http://www.trustintelligence.co.uk/investor

Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company announced that the company's joint broker SI Capital Limited has published a broker note on its Victoria Goldfields joint venture which may be viewed through the following link: https://www.powermetalresources.com/sicapital

Filta Group Holdings PLC (LON:FLTA), a provider of fryer management and other services to commercial kitchens, has announced that its annual general (AGM) will be held on July 14, 2020, commencing at 11.00am, at The Locks, Hillmorton, Rugby, Warwickshire, CV21 4PP. Due to the current coronavirus (COVID-19) restrictions on non-essential gatherings, shareholders are advised not to attend the meeting and to submit their votes in advance by proxy. Copies of the Notice of Annual General Meeting and the group’s Annual Report are available on the company's website: www.FiltaPlc.com

LoopUp Group PLC (LON:LOOP) has announced that, due to the coronavirus (COVID-19) pandemic, and in compliance with UK government guidelines, the company will now hold its annual general meeting (AGM) with the minimum quorum of two director-shareholders present at LoopUp's offices at 10.00am on June 24, 2020, to conduct the business of the meeting in line with social distance guidelines and no other shareholders will be permitted to physically attend the meeting. The company requests that shareholders submit their votes in advance, by proxy, by post, and said the results of the votes on the proposed resolutions will be announced in the normal way as soon as practicable after the conclusion of the AGM. To ensure that shareholders still have the opportunity to engage directly with the board, the group said it will hold a special virtual shareholder event during July 2020, following the planned update of the company's trading for the first half of the year through to 30 June 2020. Further details of this virtual shareholder event will be announced by RNS in due course.

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