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CloudCoCo chairman adds to his nest egg

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

Trakm8 Holdings PLC -

Cloudcoco Group PLC (LON:CLCO) shares advanced 7.5% to 1.075p after the company chairman topped up his holding.

Fairly hot on the heels of the information technology and communications services provider’s interims on Tuesday, Simon Duckworth splurged £6,000 on 600,000 shares at a penny a pop.

The purchase takes the non-executive chairman’s stake in the company to 7.5mln shares, equivalent to around 1.51% of the company’s current voting rights.

12.30pm: Essentra wanted after second-quarter performance steadily improves

Essentra PLC (LON:ESNT) jumped 10% to 323p on the back of a trading update that revealed a steady recovery from the shock impact of the coronavirus pandemic.

The supplier of specialist plastic, fibre, foam and packaging products anticipates some continued disruption to its trading in the coming months despite seeing some recovery as the coronavirus pandemic lockdown eases.

The FTSE 250 company expects like-for-like revenue to be down 9% in the six months to June 30, 2020, with the second quarter dropping by 10%.

11.30am: CMC raises full-year guidance

CMC Markets PLC (LON:CMCX) shares were bid up 19% to 334.5p after the online trading platform operator said it raised full-year guidance.

The company did not give a specific figure for net operating income for the first quarter (three months to the end of June) but did note that it was higher than the £102.3mln reported for the first six months of the previous fiscal year, with trading activity around double the level seen in the corresponding quarter of 2019.

Sticking with the theme of comparing this year’s first quarter with last year’s first half, CMC said client income retention was materially higher than the 82% reported in the first half of fiscal 2020 while stockbroking net trading revenue also continues to benefit from the market conditions.

10.30am: Volga Gas's output slides in June

Volga Gas PLC (LON:VGAS) shares eased 3.9% to 25p after the oil and gas producer’s production report for June.

The average production in June was 3,248 barrels of oil equivalent per day, which was 4% lower than the previous month.

The decline was attributed to the gas plant working at lower capacity for seven days due to planned maintenance on Gazprom's facilities.

9.30am: TrakM8 drags its delayed food retailer deal over the line

TrakM8 Holdings PLC (LON:TRAK), up 26% at 21.5p, topped the early risers in London on Friday morning after winning a new contract.

The telematics and data insight provider had said back in April that a possible contract with a major food retailer in the UK had been delayed because of the mad rush to supply British shoppers with toilet roll, hand sanitisers, pasta and so on but the company has now got the contract over the line.

The contract is initially for two years and uses Trakm8's algorithm to optimise home deliveries. There will be some initial customer-funded engineering integration activity in advance of the product going live later in the year.

Catenae Innovation PLC (LON:CTEA) climbed 17% to 8.03p after it unveiled two significant developments – one commercial, the other technological.

The blockchain specialist has agreed on a deal with a newly-incorporated firm called Afrik-ID, set up by Botswana’s former US ambassador David Newman. Afrik-ID will pilot test over the next four months Catenae’s Onsite ID and Cov-ID technologies in the country “to ascertain their commercial viability”.

Catenae also revealed it has completed work on its Onsite ID product having slowed progress to develop, pilot and launch the Cov-ID coronavirus passport app.

Proactive news headlines:

Catenae Innovation PLC (LON:CTEA) has unveiled two significant developments – one commercial, the other technological. The former first: the blockchain specialist has agreed on a deal with a newly-incorporated firm called Afrik-ID, set up by Botswana’s former US ambassador David Newman. Afrik-ID will pilot test over the next four months Catenae’s Onsite ID and Cov-ID technologies in the country “to ascertain their commercial viability”. In a separate announcement, Catenae said it had completed work on its Onsite ID product having slowed progress to develop, pilot and launch the Cov-ID coronavirus passport app.

SigmaRoc PLC (LON:SRC) said its Belgian subsidiary, Carrières du Hainaut (CDH) has signed an agreement with the Walloon government to co-fund infrastructure works in the context of its quarry extension project at the town of Soignies. The construction materials group said CDH will fund €700,000 of the estimated €3mln project, which is expected to commence later this year and consist of the displacement of two sections of public road currently separating 116 hectares of CDH's 351 hectares of permitted land and minerals from its main quarry site. SigmaRoc said once these works are finalised CDH will begin installing a new crushing and screening plant, enabling it to move forward with extracting construction aggregates and high-grade limestone at the extension area.

Power Metal Resources PLC (LON:POW) has said the pitting and mapping exploration programme at its Kisinka copper-cobalt project has confirmed copper anomalous areas. The programme on the 70%-owned project, located in the southern part of the Katangan copper belt in the Democratic Republic of the Congo, was carried out over 40 days. In all, 211 samples including 11 field duplicates were collected and after sample preparation at the Preparation Laboratory of the University of Lubumbashi, one batch was subjected to x-ray fluorescence (XRF) testing by an XRF Niton analyser, where a correlation with an R2 coefficient of 0.8835 for cobalt and 0.9661 for copper was obtained, indicating good precision.

Trident Resources PLC (LON:TRR) has said that, further to its announcement of June 2, 2020, the company's change of name has been effected by Companies House and that its name is now Trident Royalties PLC. The company will start trading under its new name, with the same TIDM of TRR with effect from 08.00am on  Monday, July 6, 2020. Shareholders should note that their shareholdings remain unaffected by the change of name and existing share certificates should be retained as they remain valid for all purposes and new share certificates will not be issued.

Adamas Finance Asia Limited (LON:ADAM), the pan-Asian diversified investment vehicle, announced that further to its announcement on June 3, 2020, the company's portfolio company, Future Metal Holdings Limited (FMHL), is now expecting to complete its mining licence renewal in the third quarter of 2020. It noted that while the licence renewal process is underway, the quarry has continued to operate. The renewal process was originally scheduled to be completed in the second quarter of 2020 and the local management team has submitted all the required documents for the renewal process. The reason for the minor delay in obtaining the llcence is primarily due to the addition of a new filing requirement as part of the renewal application by the local Ministry of Natural Resources in late 2Q 2020. The local management team has since completed this required filing. The company said it is confident that FMHL will obtain the renewal in Q3 2020 as its application is entering the final review phase by the Ministry. 

Mosman Oil and Gas Limited (LON:MSMN) the oil exploration, development and production company, has provided an update on the sale of the Welch Project in Texas to US-based Eagle Natural Resources LLC for US$300,000 (circa A$460,000). The purchaser has previously paid a non-refundable deposit totalling US$60,000 (circa A$85,000). The purchaser has again sought and Mosman has granted an additional 14-day extension to the settlement on the basis that the non-refundable deposit is increased to US$90,000 (circa A$130,000) and this increased deposit has now been received. Full settlement of the balance of US$210,000 (circa A$300,000) is now expected to occur on July 17, 2020, Mosman said.

Impax Environmental Markets PLC (LON:IEM) has noted that 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. To read the note in full investors can visit: http://www.trustintelligence.co.uk/investor

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