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Accsys Technologies surges as it inks venture with US chemicals firm to build wood production plant

A look at Wednesday's major share movers on the London Stock Exchange

7Digital Group PLC - 7digital shoots up on contract with video app Triller

Accsys Technologies PLC (LON:AXS) was a notable riser in late-afternoon, up 7.6% to 93p after the sustainable wooden building products group inked a joint venture agreement with US firm Eastman Chemical Company (NYSE:EMN).

Under the venture deal, Accsys and Eastman will construct an operate an Accoya wood production plant to serve the North American market, with initial design work to be completed in the first quarter of 2021.

Elsewhere, FTSE 100 insurer Admiral Group PLC (LON:ADM) motored 7.4% higher to 2,711p after reinstating its special dividend on top of an increased interim payout as it said there was now a “reduced level of uncertainty in the economic environment compared to earlier in the year”.

The motor insurer's pre-tax profits for the first half of the year jumped by 30% to £286.7mln thanks to a strong level of prior-year reserve releases in the UK and international businesses and profits growth from its Confused.com arm.

12.40pm: Cadence Minerals shines as investee upgrades magnetite resource at Australian project

Cadence Minerals PLC (LON:KDNC) shares were a bright spot in lunchtime trading, rising 9.1% to 11.5p after Macarthur Minerals, in which it holds a 2.2% stake, announced a resource upgrade for magnetite deposits at its Lake Giles iron project in Western Australia.

Cadence chief executive Kiran Morzaria said the updated resource was “an important development for Macarthur as an emerging Australian iron ore producer” and added material value for shareholders.

The measured mineral resource now comprises approximately 53.9mln tonnes and indicated mineral resources of 218.7mln tonnes.

In the fallers, shopping voucher firm Appreciate Group PLC (LON:APP) tumbled 13% to 34.9p after it said it will skip its final dividend to save cash amid coronavirus uncertainty.

The reward company is also planning to stop producing hampers and merchandise, which account for 2% of its billings, so it will only be supplying gift cards.

Demand in the corporate and consumer areas has been 48% below last year since lockdown began, while the Christmas Savings order book remains 10% down on 2019.

10.40am: Angus Energy lifted by agreement with Royal Dutch Shell

Angus Energy PLC (LON:ANGS) jumped 26% to 0.225p in late morning on the back of an off-take agreement with Royal Dutch Shell plc (LON:RDSA).

The AIM-listed firm will supply the entire production from the Saltfleetby Gas Field, located in England, to the giant’s division Shell Energy Europe.

The terms of the agreement are in line with previous assumptions, Angus Energy said.

10am: Glanbia lower after sharp half-year earnings drop

Glanbia PLC (LON:GLB) slid 7% to 9p in mid-morning after posting a sharp drop in earnings as a result of the pandemic.

Half-year revenue rose 2% to €1.8bn but underlying earnings (EBITA) fell 25% to €85mln.

The nutrition group still proposed an interim dividend of €10.68 cent per share, same as last year, in line with its policy.

Meanwhile, Appreciate Group PLC (LON:APP) lost 12% to 35.12p after planning to skip the final dividend to save cash amid coronavirus uncertainty.

The reward company is also planning to stop producing hampers and merchandise, which account for 2% of its billings, so it will only be supplying gift cards.

Demand in the corporate and consumer areas has been 48% below last year since lockdown began, while the Christmas Savings order book remains 10% down on 2019.

8.45am: 7digital shoots up on contract win from video app Triller

7digital Group PLC (LON:7DIG) was the top riser on Wednesday morning, shooting up 31% to 0.77p on the back of a new contract with Triller.

Triller is an artificial intelligence-powered app that allows users to choose their favourite music to create auto-edited, professional-quality videos which can be published on the app or shared via social media channels.

The digital music solutions provider will allow Triller to access its global catalogue of more than 80mln tracks by licensing its API for music sampling and full-length audio streaming.

Elsewhere, Horizonte Minerals PLC (LON:HZM) climbed 28% higher to 4.34p after signing up five international banks tasked to the US$325mln required to get work underway at the group's Araguaia ferro-nickel project in Brazil.

BNP Paribas, ING Capital, Mizuho Bank, Natixis, and Société Générale will act as arrangers for the debt facility, which is expected to be closed by the end of the year with aim of starting construction early 2021.

"The mandating of five international financial institutions, with strong mining and metals track records, for the arrangement of a large senior debt facility is a significant achievement for Horizonte,” said chief executive Jeremy Martin.

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Horizonte Minerals PLC’s (LON:HZM) (TSE:HZM) chief executive Jeremy Martin described as a “major milestone” the agreement struck with five international banks tasked with raising the US$325mln required to get work underway at the group's Araguaia ferro-nickel project in Brazil. BNP Paribas, ING Capital, Mizuho Bank, Natixis, and Société Générale will act as arrangers for the debt facility, which is expected to be closed by the end of the year with aim of starting construction early 2021. "The mandating of five international financial institutions, with strong mining and metals track records, for the arrangement of a large senior debt facility is a significant achievement for Horizonte,” said CEO Martin.

Galileo Resources PLC (LON:GLR) has kicked off a new programme of exploration on the Kalahari Copper Belt licences, in western Botswana. The initial phase of work, at licences PL40/2018 and PL39/2018, aims to define targets for drilling. The programme will include ‘heliborne’ electromagnetics (EM) geophysical surveys as well as reconnaissance soil sampling. "We are pleased to announce the commencement of exploration activities on Kalahari Copper Belt (KCB) tenures PL40/2018 and PL39/2018,” Colin Bird, Galileo's chief executive said in a statement.

Metal Tiger PLC (LON:MTR) told investors that exploration at Southern Gold’s Aphae project, in South Korea, has unearthed high-grade gold intersections. Drilling at Aphae has shown several high to moderate grade gold/silver intersections including broad near-surface gold mineralisation, Metal Tiger highlighted. A follow-up drill program and ground magnetic surveying will target extensions. Metal Tiger owns a 17.1% shareholding in Southern Gold.

Alien Metals Ltd (LON:UFO) has hired North American investment bank IBK Capital Corp to assist with project-level funding and the joint venture process for the Donovan 2 copper-gold project in Mexico. Appointing the Canadian investment house, with significant experience in the mining sector, was described by the company as a prudent step in maximising the value of the project for all parties. The company noted that it has been in talks with several mining companies who have declared an interest in a joint venture partnership for the Donovan project.

ReNeuron Group PLC (LON:RENE), a global leader in the development of cell-based therapeutics, has announced changes to the non-executive membership of its board as indicated in the company's preliminary results statement on July 20, 2020. The company confirmed that it intended to reduce the number of non-executive directors from six to four and that, in recognition of its significant shareholding and ongoing support for the company, it had approved in principle a request from Obotritia Capital KGaA to nominate a non-executive director to the board. John Berriman and Simon Cartmell, having served for nine years and thereby having become non-independent under the QCA code of corporate governance, have expressed their intention not to seek re-election at the forthcoming annual general meeting (AGM) on September 10, 2020, and they and Dr Claudia D'Augusta will retire with effect from the close of that meeting. Dr Tim Corn, an existing non-executive director of the company, will become chairman of the board and Mark Evans, the chairman of Obotritia, will be appointed as a non-independent non-executive director of the company at the AGM.

Premier African Minerals Limited (LON:PREM) announced that D-Beta One EQ, Ltd, YA II PN, Ltd and Riverfort Global Opportunities PCC Limited elected on August 11, 2020, to convert a further US$50,000 of their investment plus accrued interest of US$1,183.56, amounting to US$51,183.56 (£39,165.66) in aggregate, into new ordinary shares in the company. The company has therefore issued 64,470,222 new ordinary shares to the investors at an issue price of 0.06075p per share, being 90% of the lowest daily volume-weighted average price (VWAP) during the five days trading days immediately prior to the repayment

Karelian Diamond Resources PLC (LON:KDR) said it has been informed that Kevin Taylor now holds 3,447,879 ordinary shares of €0.00025 in the company, equal to approximately 8.01% of its issued share capital and voting rights.

Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, announced that on August 11, 2020, it repurchased US$1,609,000 Avation Capital S.A. 6.5% senior notes due 2021 issued under Avation's global medium-term note programme. The notes were acquired through the market at a price equal to 71% of face value and will be cancelled. There are US$343,957,000 Avation Capital S.A. 6.5% senior notes due 2021 outstanding following the transaction, it added.

Oncimmune Holdings PLC (LON:ONC), the leading global immunodiagnostics group, has announced the appointment of N+1 Singer and WG Partners as its joint brokers with immediate effect. Zeus Capital will continue as the company's nominated adviser and joint broker.

MTI Wireless Edge Ltd. (LON:MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors has confirmed that it will announce its financial results for the six month period ended June 30, 2020, on Monday, August 17, 2020. Moni Borovitz, the group’s chief executive officer, will provide a live investor presentation relating to the financial results via the Investor Meet Company platform on Monday, August 17, 2020, at 10.00am UK time. Investors can sign up for free via: https://www.investormeetcompany.com/mti-wireless-edge-ltd/register-investor

SIMEC Atlantis Energy Limited (LON:SAE), the global developer, owner and operator of sustainable energy projects has announced that it's annual general meeting (AGM) will be held on August 28, 2020, at 11.00am. In accordance with current UK government instruction and guidance regarding coronavirus (COVID-19) and the restrictions on social contact, public gathering and non-essential travel, shareholders will not be able to attend the AGM in person. A pre-recorded CEO presentation will be made available to shareholders shortly after the AGM. The submission of questions to the chairman in advance of the meeting, addressing of substantial and relevant question can be made through the company’s website.

Sareum Holdings PLC (LON:SAR), the specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune diseases, said that, further to Tuesday's trading update, Dr Tim Mitchell will deliver a live online presentation to investors via the Investor Meet Company platform at 10.00am on Friday, August 14, 2020. Existing and potential investors wishing to participate in the presentation must register with IMC at: https://www.investormeetcompany.com/sareum-holdings-plc/register-investor. A copy of the presentation will be made available on the company's website following the presentation.

Hardman & Co Research has issued a report on Primary Health Properties PLC (LON:PHP) entitled ‘Strong set of results, confirming ongoing rent rises’. It concluded: “We consider this REIT has significant per share value growth potential, through capital deployment, rent rises and financing cost efficiencies.” The report can be accessed via the following link: https://www.hardmanandco.com/research/corporate-research/strong-set-of-results-confirming-ongoing-rent-rises/

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