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Proactive news headlines: Applied Graphene Materials, Seeing Machines, San Leon Energy, OKYO Pharma …

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

Applied Graphene Materials PLC (LON:AGM) said it has signed an exclusive agreement with Ohio-based Maroon Group to distribute its graphene coatings in the US and Canada. The agreement also gives it a direct route into the coatings and polymers sectors in North America, Applied Graphene added. Maroon Group has distributed specialty chemicals and ingredients across both countries since it was formed in 1977.

Seeing Machines Ltd (LON:SEE) saw its revenue, profit and cash all come in ahead of target for the year to end-June, 2020, and it is looking forward to the launch of two new vehicles featuring its technology in the coming months. Annual revenue is expected to be A$39.7mln, versus guidance of A$36.6mln and up around 24% on the previous year in spite of the challenges of the coronavirus pandemic on its core markets, while total income is expected to be A$42.6mln, up 30% on the previous period, the provider of driver monitoring systems said in a trading statement.

San Leon Energy PLC (LON:SLE) has revealed that it is investing US$15mln in Energy Link Infrastructure (Malta) Ltd, the company which owns the Alternative Crude Oil Evacuation System project. The ACOES is being constructed to provide a dedicated oil export route from the OML 18 asset, comprising a new pipeline from OML 18 and a floating storage and offloading vessel. Once commissioned, the system is expected to reduce the downtime and allocated pipeline losses currently associated with the Nembe Creek Trunk Line to below 10%.

OKYO Pharma LTD (LON:OKYO), the life sciences and biotechnology company, focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain, announced that its CEO, Kunwar Shailubhai shared insight into the company’s development pipeline and upcoming milestones during an investor webinar, hosted by RedChip Companies, on Sunday, August 2, 2020. The investor webinar can be viewed at https://youtu.be/l8onUtOvSqQ.

NQ Minerals PLC (AQSE:NQMI) (OTCQB:NQMLF) (OTCQB:NQMIY) said it has appointed international legal firm Hill Dickinson in London to prepare the necessary prospectus and documentation to have its shares traded on a tier-1 stock exchange. "Now that the company's annual accounts have been published, showing solid year on year revenue growth, the board of the company has determined that the company has reached a size and stage of development that it is appropriate to consider what other platforms and exchanges exist to position the company to take maximum advantage of the company's maturing operating status,” said executive chairman David Lenigas in a statement.

Crossword Cybersecurity PLC (LON:CCS) has said it is cautiously optimistic of hitting full-year targets after a first half that saw revenues rise 43% year-on-year. The cyber-security company acknowledged there is a lot of uncertainty over the outlook for the rest of the year, particularly with the probable ending of employee furlough schemes, but said full-year results should be in line with market expectations if it can get a few major product bids over the line in the next few months and continue to convert its healthy prospects pipeline into sales. For the first six months of 2020, the company expects to report revenues of £674,000, up 18% on the first half of 2019.

United Oil & Gas PLC (LON:UOG), the high growth oil and gas company with a portfolio of production, development and exploration and appraisal assets announced that it has received approval from the Jamaican Government to take forward the Walton Morant Licence, Jamaica, on a 100% operated basis.

ADM Energy PLC (LON:ADME) has qualified to participate in the Nigerian government’s first oilfield licence bid round since 2003. The AIM-quoted company is participating in the 2020 marginal field bid round as the exclusive technical partner of local oil and gas service management company, OilBank International.

Union Jack Oil PLC (LON:UJO) said the Oil and Gas Authority has given the green light to its acquisition of a 12.5% additional stake in the onshore licences that host the Wressle operation in Lincolnshire. It takes UJO’s holding to 40%, providing 200 barrels of additional daily output if Wressle comes on stream at an initial rate of 500 barrels a day. Break-even at US$17.62 a barrel, Wressle will be a significant money-spinner with oil trading at around US$40 a barrel.

Europa Oil & Gas Holdings PLC  (LON:EOG) has welcomed the commencement of site works at the Wressle onshore oil field in Lincolnshire, which will usher in first production on schedule in the second half of the year. Operator Egdon Resources Plc (LON:EDG) is currently overseeing the construction, which includes the installation of items such as a high-density polyethelene impermeable membrane, a French drain system and a surface water interceptor. Europa holds a 30% interest in the licences that host the operation, alongside Egdon (30%) and Union Jack Oil & Gas (40%).

Ncondezi Energy Ltd (LON:NCCL) has submitted the Transmission Integration Study for the integrated 300MW coal-fired power project and coal mine that it plans to build in Tete, Mozambique to Electricidad de Moçambique  The study evaluated a number of transmission connection options for the project, taking into account current and planned changes to the network since the completion of the last study with EDM. "It's a fantastic step forward that we have submitted the final draft of the Transmission Integration Study to EDM for review,” said Ncondezi chief executive Hanno Pengilly in a statement.

Greatland Gold PLC (LON:GGP), the AIM-listed precious and base metals exploration and development company, confirmed that a Mining Lease application for the Havieron gold-copper deposit has been lodged with the Western Australian Deparment of Mines, Industry Regulation and Safety. The Mining Lease application covers the 12 block area within the Havieron licence (E45/4701) that is subject to the Farm-in Agreement between Greatland and Newcrest dated March 12, 2019

ADM Energy PLC (LON:ADME) has qualified to participate in the Nigerian government’s first oilfield licence bid round since 2003. The AIM-quoted company is participating in the 2020 marginal field bid round as the exclusive technical partner of local oil and gas service management company, OilBank International.

Bushveld Minerals Limited (LON:BMN), the integrated primary vanadium producer and energy storage provider, has revealed that its 84%-owned Enerox Holdings Ltd has acquired a further 65.1% of the share capital of Enerox GmbH. The investment is in line with the company's strategy of establishing a vanadium redux flow battery investment platform to lead investments in VRFB original equipment manufacturers with attractive upside potential. The Enerox battery product is one of the most widely deployed over the past 10 years, offering a unique value proposition in the industry.

Tiziana Life Sciences PLC (LON:TILS, NASDAQ:TLSA) said it plans to raise a gross US$57.25mln from US investors to fund work on three separate drug programmes. Just over 11mln new American depositary shares are being issued at US$5.20 each as part of the fundraiser, organised by ThinkEquity. The proceeds will be used “advance the clinical development” of Foralumab, its promising fully-human anti-CD3 monoclonal antibody.

Blue Star Capital PLC (LON:BLU) said it has raised £550,000 via a share placing. In a statement, the technology investor said part of the proceeds will be deployed to maintain its 13% stake in Dynasty eSports, which, separately, is about to embark on a £1.5mln (US$2mln) funding round. Cash will also be set aside “additional working capital”. The new shares, issued at 0.15p, come with a warrant attached, exercisable at 0.25p.

AfriTin Mining Limited (LON:ATM), the tin miner, has raised £3.05mln through a placing and subscription at 2.1p. Existing shareholders have applied for the majority of the shares, said AfriTin, and the money will complete debottlenecking capital projects for the Stage I plant at the Uis tin mine, feasibility studies for the Phase 1 expansion and working capital.

Metal Tiger PLC (LON:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, has noted that Southern Gold Ltd (ASX:SAU), in which Metal Tiger owns an approximate 17.1% equity interest, has published an update with regard to its Gubong and Kochang joint venture projects with Bluebird Merchant Ventures PLC (LON:BMV). Southern Gold said it is seeking to realise value from its 50% equity interests in the Gubong and Kochang projects in the Republic of Korea by offering them to joint venture partner Bluebird Merchant Ventures Ltd (LON:BMV).

Argentex Group PLC (LON:AGFX), a provider of foreign exchange services, saw a significant increase in underlying earnings in its first year as a listed company. Profit before tax in the year to the end of March 2020, shot up to £10.2mln from £2.1mln the previous year on revenue that rose to £29.0mln from £21.9mln the year before as foreign exchange passing through the Argentex system topped £12bn – up 32.3% year-on-year. Argentex revealed 380 new corporate clients traded during the period, lifting the number of active corporate clients to 1,212, up 12% on the previous year.

Zoetic International PLC (LSE: ZOE), the London-listed vertically integrated CBD and natural resources company, has provided further update on the sale of DTU and its Kansas nitrogen assets to Path Investments PLC as previously announced on May 27, 2020, and July 8, 2020. The group said the transaction has not yet completed due to matters beyond the company's and Path's control, but its board remains hopeful that matters will be concluded shortly.  The company and Path have agreed an extension to allow the transaction to complete., it added, and the delay has no material impact on the financial performance of the company.

Condor Gold PLC (LON:CNR) (TSX:COG) said that, following the receipt of a notice for the exercise of warrants, it has issued 17,902 new ordinary shares with a nominal value of 20p each in the capital of the company at a subscription price of 40p per share and, as a result, it has received gross proceeds of £7,161.

Verona Pharma PLC (LON:VRP) (NASDAQ:VRNA), a clinical-stage biopharmaceutical company focused on respiratory diseases, has announced that David Zaccardelli, its chief executive officer and president, and Mark Hahn, its chief financial officer, will present a company overview at the following virtual investor conferences in August: BTIG Virtual Biotechnology Conference on Monday, August 10, 2020, at 2.30pm ET; Wedbush PacGrow Healthcare Virtual Conference on Wednesday, August 12, 2020, at 11.30am ET; and the 40th Annual Canaccord Genuity Growth Conference on Thursday, August 13, 2020, at 4.30pm ET. A live webcast of each event will be available on the Events and Presentations link on the Investors page of the company’s website - www.veronapharma.com - and an audio replay will be available there for 30 days.

INTOSOL Holdings PLC (LON:INTO) said it has requested a suspension of the listing of its common shares on the Standard Market of the London Stock Exchange from 7.30am on Monday, August 3, 2020. The company noted that the suspension has been requested because it is unable to meet the filing deadline of its audited financial statements year ending January 31, 2020, due to the current outbreak of the novel strain of coronavirus (COVID-19) which has had a material impact on completing in a timely way the audited financial statements, The group said it expects to file the financial statements within the net 10 working days and will then seek recommencement to trading subject to regulatory approval.

Rose Petroleum PLC (LON:ROSE) said that, following the announcement of July 29, 2020, the company's change of name to Zephyr Energy PLC has now become effective. Accordingly, from tomorrow, trading on AIM the company's shares will continue under the new name and the code ZPHR, although the company's ISIN and SEDOL will not change. Shareholders should note that their shareholdings will be unaffected by the change of name and existing share certificates should be retained as they will remain valid for all purposes and no new share certificates will be issued.  In order to reflect the new name, the company's website address will be changed to www.zephyrplc.com from tomorrow. 

Cello Health PLC (LON:CLL) said that its recommended all-cash acquisition by a newly incorporated company wholly-owned by Value Demonstration UK Holdings Limited, a company backed by Arsenal Capital Partners V LP and Arsenal Capital Partners V-B LP, via a Court-sanctioned scheme of arrangement was on Monday approved by holders of Scheme Shares at the Court Meeting, and by Cello Shareholders via a Special Resolution at a general meeting of the company.

Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company has announced that it will be participating in a Shares Investor Evening Webinar in which Paul Johnson, its chief executive officer, will be delivering a presentation and answering questions about the company. The webinar is scheduled for 6pm on Wednesday August 5, 2020, and investors wishing to view this may do so through the following registration link: https://www.sharesmagazine.co.uk/events/event/shares-investor-evening--webinar-050820

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