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Proactive news headlines: SDX Energy, Bango, OptiBiotix Health, Futura Medical …

A glance at some of the day's highlights from the Proactive Investors newswire

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Your daily round-up from the world of Proactive

SDX Energy PLC (LON:SDX) told investors it has sold a non-core asset in the Eastern Desert of Egypt in a deal worth US$3mln. The group said it has sold a 50% working interest in the North West Gemsa licence to Gulf Energy, a private Egyptian company. Some US$1.4mln of the proceeds are being immediately used to discharge the company’s remaining liabilities on the licence.

Bango PLC (LON:BGO) said it is expecting “record revenue growth ahead of expectations” in the first half of its current year, while end-user spending in the full year is expected to hit £2bn. In a trading update for the six months ended June 30, 2020, the mobile commerce firm said it expects to report revenue growth of over 50% to £4.8mln year-on-year, while adjusted earnings (EBITDA) for the period are predicted to exceed the £450,000 figure for the whole of 2019.

OptiBiotix Health PLC (LON:OPTI) said its agreement with Draco Ingredients has been extended to include a second product. As well as distributing weight management line SlimBiome in Germany, it is adding to the roster WellBiome, developed to promote gut health. “The introduction of WellBiome gives us the opportunity to extend our product portfolio of functional ingredients with scientifically proven benefits and increase the commercial opportunity,” Andre Wittke, Draco’s general manager said in a statement.

Amur Minerals Corporation (LON:AMC) has confirmed it could make a new investment in a mining project as its shares soared higher. In a stock market statement made in response to its rising share price, Amur said it is considering an investment in the mining sector and that this investment is subject to completion of due diligence and funding.

FastForward Innovations Limited (LON:FFWD) said its portfolio firm, cannabidiol (CBD) specilist Yooma Corp, has agreed a reverse takeover with Globalive Technology Inc. Globalive is aiming to acquire Yooma for an aggregate consideration of around US$25mln, which will be paid in newly issued shares in the company. The transaction is also expected to complete at the same time as the acquisition of CBD ingredient wholesaler Socati Corp to form an enlarged group. In a separate statement, FastForward Innovations also announced that at its extraordinary general meeting held on Tuesday, all resolutions as set out in the notice dated June 26, 2020, were duly passed.

Stobart Group Limited (LON:STOB) announced that its wholly-owned subsidiary Stobart Holdings has solid Stobart Rail, owner of its rail & civils division, to Bavaria Industries Group. The aviation and energy infrastructure group said the initial cash consideration for the disposal was £1,000, while it may receive additional consideration of up to £2.9mln based on the outcome of the conclusion of a single legacy contract.

Futura Medical PLC (LON:FUM) said it has submitted the product dossier for its treatment of erectile dysfunction known as MED3000 for marketing approval in Europe. A further update on MED3000's EU regulatory approval will be made alongside its interim results in September and the target remains a 2021 approval date, the group added. In the US, Futura said that after a second pre-submission meeting with the US Food and Drug Administration (FDA), a pathway to US marketing approval for MED3000 has been established.

AdEPT Technology Group PLC (LON:ADT) said it expects the coronavirus (COVID-19) pandemic will have only a modest impact on its business in the medium to long term. At the onset of the pandemic, the information technology and communication services provider conducted a number of stress tests to see how the company would cope with a sharp fall in activity and in this morning’s full-year results statement it reported that in the main, the impact of the lockdown was nowhere near as bad as it could have been. The company had expected that the inability of sales staff to meet potential customers face-to-face would hit orders hard but revealed that new order volumes have proven to be “significantly more resilient” than it had initially modelled in respect of both recurring services and one-off projects. As for the figures for the year to the end of March 2020, AdEPT's revenue increased by 20% to £61.7mln from £51.3mln the year before.

Frontier IP Group Plc (LON:FIPP) said its portfolio firm AquaInSilico has won a €60,000 EIT RawMaterials grant to develop its software designed to optimise wastewater treatment. The IP investor said the grant from the EU’s European Institute of Innovation and Technology will allow AquaInSilico to build on its collaboration with a leading European environmental, water and waste management group to commercialise its software tools. The group’s technology is designed to remove phosphorus from wastewater in a more environmentally friendly and effective way than existing methods, with the recovered phosphorus then sold for use in fertilisers.

Strategic Minerals PLC (LON:SML) has boosted sales at the Cobre magnetite project in the US, despite the disruption of the coronavirus pandemic. Quarterly sales were up 89% on quarter-end June 2019 and ahead 38% year-on-year. Despite the suspension of mining activities at the adjacent copper mine, operations at Cobre continue to operate under protocols established to ensure contactless sales and have been successful in safeguarding employees and clients to date.

Power Metal Resource PLC (LON:POW) has two key strategic objectives, according to an update document released by the company today. The first is to make one or more major metal discoveries within its gold, base and strategic metal portfolio, and then crystallise the value of such discoveries for shareholders' benefit. The second is to build its working capital and 'balance sheet' toward financial self-sufficiency and to reduce forward reliance on funding from the market to achieve its business objectives.

Circle Property PLC (LON:CRC) said it has collected 91% of rents in the quarter to March 2020 despite the impact of the coronavirus pandemic. In a trading update, the property firm focused on regional offices said current rent collection for the June 2020 quarter currently stands at 77%, but with agreed monthly payments that figure has increased to 91% of rent due. The company also said it is in “constant and constructive dialogue” with its tenants and anticipates its rent collection numbers will “continue to increase”.

Itaconix PLC (LON:ITX) said that that all resolutions were duly passed at its general meeting held on Tuesday in connection with the fundraising the company announced on June 23, 2020. The group also announced that £36,500 had been raised under the US additional subscription meaning that, in aggregate, gross proceeds of approximately £1.8mln were raised by the fundraising  John R. Shaw, CEO of Itaconix, commented: "I appreciate the support of our existing shareholders and welcome new shareholders on our mission to deliver next-generation consumer products based on our bio-based ingredients that are safer, have better performance, and are more sustainable.  As we gain commercial momentum in key markets, completion of the Fundraising opens a new phase in the Company's growth. I look forward to updating the market on our progress."

Trident Royalties PLC (LON:TRR) is to acquire a royalty on the Spring Hill gold project in Northern Territory, Australia, from Thor Mining PLC (LON:THR) (ASX:THR). Trident will pay A$400,000 upfront for the royalty, with further payments due later. The royalty itself is pegged to the gold price, and will run at A$5.70 per ounce of gold produced if the gold price goes below A$1,500 per ounce, and at the much higher A$13.30 if gold is higher.

ADM Energy PLC (LON:ADME) has appointed a pair of oil and gas industry veterans, Darrell McKenna and Dr Satinder Purewal, as advisory members to its technical team. McKenna joins as drilling and surface engineering lead, while Purewal bring his expertise to the role of petroleum and reservoir engineering lead. Already on the technical team is Wilhelmus (Wim) Burgers who is the geologist and geophysical lead.

Regency Mines PLC (LON: RGM) has reported a positive outcome from the Warden’s Hearing in Papua New Guinea in relation to its Mambare nickel project. Regency’s joint venture partner attended the hearing. The Warden's Hearing is an important milestone in the process of applying for a mining licence to conduct a direct shipping ore operation over a portion of the Mambare nickel-cobalt project in Papua New Guinea, and is considered a broad analogue to local community planning approval in the UK. 

[email protected] Capital PLC (LON:SYME) has announced the appointment of Stuart Nelson as Head of Enterprise Risk Management (ERM), a newly created position, with immediate effect. The innovative fintech platform firm, which provides inventory monetisation services to European manufacturing and trading companies, pointed out that Nelson is a highly experienced credit analyst, with experience assessing risk across multiple product types and jurisdictions. It noted that he brings nearly two decades of experience to [email protected] and joins from S&P Global Ratings, where he served as senior director.

Clinigen Group PLC (LON:CLIN) said the 2020 financial year was one of strong organic growth, though the headwinds from the coronavirus lockdown were felt in the final quarter. In a trading update ahead of the pharma and services company’s September prelims, it said revenues are estimated to have grown by around 17% at constant currencies, or 13% on a gross reported basis for the year to June 30, 2020.

Filta Group Holdings PLC (LON:FLTA), a provider of services to commercial kitchens, said it has seen a gradual improvement in activity recently as coronavirus lockdown restrictions ease. Turnover in May was 14% higher than in April while June’s topped May’s by 38%, the group noted in a trading update. The group’s sanitisation and protection service, FiltaShield, which was launched in May in response to increased concerns about hygiene, has created a lot of interest and not just in the food and beverage sector. FiltaShield generated around £50,000 in revenue in the week commencing July 6 and the company is confident the top-line will head north as more outlets reopen here and in the USA. In a later statement, Filta announced that all resolutions put to shareholders at its annual general meeting held on Tuesday were duly passed. 

4D pharma plc (LON:DDDD) confirmed after Monday's close that it had raised gross proceeds of around £7.7mln through a placing and subscription to progress its cancer and coronavirus (COVID-19) developments announced earlier in the day.

Ceres Power Holdings PLC (LON:CWR) shares held by  IP Group Plc (LON:IPO) have been sold to investors via a secondary placing arranged by European investment bank Berenberg. Some 9.1mln Ceres shares were sold at a price of 585p, versus Monday’s closing share price of 630p, to generate gross proceeds of around £53.23mln. The shares sold represent around 5.4% of the company, while IP Group retains a 0.2% shareholding in Ceres.

European Metals Holdings Limited (LON:EMH) has signed up German investment banking boutique, DGWA, for investor relations services to build the Lithium-focused firm's profile in Europe. DGWA (Deutsche Gesellschaft für Wertpapieranalyse GmbH) is based in Frankfurt, Berlin and Vienna and, for EMH, it will assist in the German-speaking financial community where there is significant interest in electric vehicle and energy storage systems.

Anglo Asian Mining PLC (LON:AAZ) said its final dividend in respect of the year ending December 31, 2019, of US$0.045 per ordinary share will be paid on July 30, 2020, to shareholders on the share register on July 3, 2020. The dividend will be converted to pounds sterling using the average of the sterling closing mid-price using the exchange rate published by the Bank of England from the 6 to 10 July, 2020, being £1 = US$1.2591, accordingly, the amount of sterling dividend payable in cash will be: 3.5739p per ordinary share.

Greatland Gold PLC (LON:GGP), the precious and base metals exploration and development company, has announced that the company and executive directors Gervaise Heddle and Callum Baxter have agreed to extend the vesting period for options granted to both executive directors on September 26, 2019, by approximately nine months.

Oracle Power PLC (LON:ORCP) has announced the receipt of the pro-rata contribution from China National Coal Development Company Ltd. (CNCDC) in respect to the $50,000 evaluation fee to the Private Power and Infrastructure Board (PPIB) as part of the application process for a Letter of Intent (LOI) for the development of the Thar Block VI power plant in Pakistan. Under the agreement announced on February 19, 2020, it was envisaged that each member of the consortium, comprising CNCDC, Oracle and Sheikh Ahmed Dalmook Al Maktoum Private Office One Person Company LLC, would contribute its pro-rata share (based on the proposed equity shareholdings set out in the consortium agreement) of the costs associated with the LOI application, being certain fees owed to PPIB. As previously announced, Oracle, on behalf of the consortium, settled the evaluation fee in full in the third week of March 2020. Following the recent payment of £28,263.72 by CNCDC, representing its circa 73% share, each member of the consortium has now paid its proportionate share of the evaluation fee. The company said it believes this payment by CNCDC reinforces its ongoing support for the development of Thar Block VI.

Diversified Gas & Oil PLC (LON:DGOC), the US-based owner and operator of natural gas, natural gas liquids and oil wells as well as midstream assets has said it will release its interim results for the six months ended June 30, 2020, on August 10, 2020. The company added that it will also host a conference call on August 10, 2020, at 11.00am BST to discuss the interim results.

Echo Energy PLC (LON:ECHO), the Latin American focused upstream oil and gas company, has announced that it's annual general meeting (AGM)will be held at the offices of Fieldfisher LLP, Riverbank House, 2 Swan Lane, London, EC4R 3TT on Thursday, August 6, 2020, at 12.00pm. As a result of the coronavirus (COVID-19) pandemic and in accordance with the UK government's current advice to restrict public gatherings, the AGM will be held as a closed meeting and shareholders will not be permitted to attend in person and are strongly encouraged to submit their proxy in advance of the meeting to ensure that their votes are registered.

BlueRock Diamonds PLC, the AIM-listed diamond producer, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, has announced that due to unforeseen circumstances, the shareholder call planned for post the company's annual general meeting (AGM) today, will now take place at 2pm on July 20, 2020. To join the webinar from a computer, please use the following link: https://us02web.zoom.us/j/87159419944. To join the webinar using a mobile telephone please use the following numbers: +44 20 305 12874; Webinar ID: 87159419944# or; +44 20 348 15237; Webinar ID: 87159419944#. To join the webinar using a landline telephone please use the following numbers: +44 203 051 2874 or; +44 203 481 5237 or; +44 203 481 5240 or; +44 203 901 7895 or; +44 131 460 1196; Webinar ID: 871 5941 9944. Shareholders are invited to submit questions via email in advance of the call; please submit questions to [email protected] by 4.30pm on Friday, July 17, 2020. The management team will strive to answer as many questions as possible during the call, however, it should be noted that no material new information regarding the company will be provided during the call. In a later statement, BlueRock Diamonds said that at the AGM held on Tuesday, all resolutions were duly passed.  

Powerhouse Energy Group PLC (LON:PHE), the UK technology company commercialising hydrogen production from waste plastic, announced that at its general meeting held on Tuesday, all resolutions as set out in the Circular and Notice of General Meeting dated June 26, 2020, were passed by shareholders. The resolutions proposed were in connection with the proposed issue of 1,437,440,277 new ordinary shares for the acquisition of the entire issue shared capital of Waste2Tricity Limited and the approval of the waiver of obligations under Rule 9 of the Takeover Code.

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Oracle Power: Shareholder Q&A

Oracle Power's (LON:ORCP) CEO Naheed Memon takes questions from the company's shareholders delivered by Proactive London's Katie Pilbeam. Questions revolve around the previously announced Letter of Intent and project development milestones in respect to Oracle's Thar Block VI. Other...

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