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Anpario in demand after strong lockdown performance

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

Redx Pharma PLC - Redx Pharma surges after inking new collaboration for cancer therapies

Anpario PLC (LON:ANP) rose 10% to 427.44p after stating it has gained business from competitors who couldn’t keep working during lockdown.

The producer and distributor of natural animal feed additives for animal products hiked the interim dividend by 10% to 2.75p per share.

In the six months to June 30, revenue advanced 13% to £16mln for profit before tax up 6% to £2mln.

2.45pm: QUIZ higher after stores restructuring

QUIZ PLC (LON:QUIZ) added 12% to 8.34p after announcing it will only reopen 60 out of the 75 UK stores it operated before the lockdown.

The three stores in Spain will remain permanently closed, while in the Republic of Ireland four of the seven sites have reopened, with negotiations continuing in relation to two other stores.

In the five months to August 31, 2020, sales slumped by 77% to £13mln, while gross margins were 6% lower than last year due to heavy discounting.

2pm: Kosmos Energy higher on farm-down agreement with Shell 

Kosmos Energy Ltd (LON:KOS) jumped 14% to 102.1p in the early afternoon on the back of an agreement with Royal Dutch Shell PLC (LON:RDSA).

The oilers agreed to farm down interests in a portfolio of frontier exploration assets for approximately US$100mln, plus future contingent payments of up to US$100mln.

Shell will acquire Kosmos’ participating interest in blocks offshore São Tomé & Príncipe, Suriname, Namibia, and South Africa, while Kosmos plans to use some of the proceeds to test two infrastructure-led exploration prospects in the Gulf of Mexico.

12noon: WH Smith slips after non-executive director reshuffle

WH Smith PLC (LON:SMWH) slipped 7% to 1,106p after appointing Nicky Dulieu as a non-executive director (NED) following Suzanne Baxter’s departure.

Baxter step down from the same role after serving on the board for eight years for undisclosed reasons.

Dulieu, who will also be chair of the audit committee, is currently a NED at FTSE 250 housebuilder Redrow, franchised dealership Marshall Motor and brewery Adnams.

10.50am: Wincanton shoots up on profit upgrade

Wincanton Plc (LON:WIN) shot up 10% to 198.5p in late morning after boasting full-year profits are likely to be “materially ahead” of expectations thanks to booming demand for online retail in the pandemic.

The logistics group said revenue in its Digital and eFulfilment arms was “significantly ahead” of pre-COVID-19 levels, with elevated numbers of two-person home deliveries through the summer months.

The performance across the rest of the group, which includes a construction arm that struggled during lockdown, has also been “encouraging”, supported by cost cuts earlier in the year.

10am: Petra Diamonds slips after confirming high court claims

Petra Diamonds Limited (LON:PDL) was among the fallers on Wednesday, shedding 5% to 1.89p after confirming UK-based law firm Leigh Day filed claims in the High Court of England and Wales against Petra and Williamson Diamonds Limited.

Williamson operates the Williamson diamond mine in Tanzania, owned 75% by Petra and 25% by the Government of Tanzania.

“The claims are understood to have been filed on behalf of 32 anonymous individuals in relation to alleged breaches of human rights at the Williamson mine. The claims are understood to allege that Petra and WDL are liable for human rights violations, personal injuries and deaths suffered by these anonymous individuals at and surrounding the mine, arising from the mine's security operations,” the miner said.

Meanwhile, Tullow Oil PLC (LON:TLW) lost 10% to 17.46p after announcing it is minimising exploration spend in the short-term due to a ‘challenging external environment’ and continues to explore options to rebalance its portfolio.

The move comes as the oiler’s interim results revealed US$1.4bn of exploration write-offs and impairments.

Results for the six months ended June 30, 2020, comprised a US$1.3bn loss after-tax, with production in line with expectations at 77,700 barrels of oil per day and US$731mln of revenue, down compared to the US$872mln generated a year ago.

8.40am: Redx Pharma surges after inking new collaboration for cancer therapies

Redx Pharma PLC (LON:REDX) surged 32% higher to 69.5p in early trades on Wednesday after unveiling a collaboration with US company Jazz Pharmaceuticals to discover and develop two targeted cancer therapies.

The AIM-listed firm will receive US$10mln upfront, a further US$10mln in year-two, and US$400mln in milestone payments and tiered royalties.

The UK group sold its pan-RAF inhibitor programme to Nasdaq-listed Jazz last July in a deal worth US$3.5mln upfront and milestones and royalties worth US$203mln.

Sticking to the sector, Amryt Pharma PLC (NASDAQ:AMYT) (LON:AMYT) climbed by 26% to 202p after posting strong results on studies for its gel for a rare and extremely painful skin condition, epidermolysis bullosa.

The phase III trial achieved its main goal, known in the scientific parlance as the primary endpoint, of accelerating the wound healing process.

The next step is a rolling submission programme to the regulatory authorities, with the company applying for speedy approval in both the US and EU.

Proactive news headlines:

Redx Pharma PLC (LON:REDX) has unveiled a collaboration with a US company called Jazz Pharmaceuticals to discover and develop two targeted cancer therapies. Redx will receive US$10mln upfront, a further US$10mln in year-two, and US$400mln in milestone payments and tiered royalties. The UK group sold its pan-RAF inhibitor programme to Nasdaq-listed Jazz last July in a deal worth US$3.5mln upfront and milestones and royalties worth US$203mln.

Amryt Pharma PLC (NASDAQ:AMYT) (LON:AMYT) has hailed as a “significant milestone” the phase III success of FILSUVEZ, a gel for a rare and extremely painful skin condition called epidermolysis bullosa (EB). The study achieved its main goal, known in the scientific parlance as the primary endpoint, of accelerating the wound healing process. The next step is a rolling submission programme to the regulatory authorities, with the company applying for speedy approval in both the US and EU.

Blue Star Capital PLC (LON: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming, noted that its investee company Guild Esports PLC has today announced its intention to seek float on the main market of the London Stock Exchange (LSE) later this year. Guild, in which Blue Star holds 11.7% of the issued share capital, expects to be the first esports franchise to join the LSE main market. It plans to create a leading global franchise by establishing its own esports teams to compete in major esports tournaments and a player training and scouting infrastructure modelled on the talent academies pioneered by Premier League football teams over many years. David Beckham, a founding shareholder, intends to use his global influence and following to support the development of the company's brand and business.

Argo Blockchain PLC (LON:ARB) has reported a surge in earnings and revenues in its first half as the number of Bitcoins mined during the period soared by over 500%. For the six months ended June 30, 2020, the cryptocurrency miner reported underlying earnings (EBITDA) of £3.2mln, 96% higher year-on-year, while revenues jumped by 280% to £11.1mln as the company’s production ramped up. The figures were the result of a 545% increase in Bitcoins mined to 1,669 from 306 a year ago. The firm also said during the period its production base had expanded by 260% to 18,000 crypto mining machines, making it one of the world’s largest publicly-listed miners.

Bango (LON:BGO), the mobile payments specialist, has agreed a partnership with ODK Media, a Korean and Chinese subscription-based video streaming service. The partnership means telecoms companies globally will be able to offer access easily to the content on ODK’s OnDemandKorea.com and OnDemandChina.com with payment through Bango's platform. “Millions of users who live outside of Korea and China to access content in their mother language with ODK Media's subscription bundled with their mobile plan, or as a bolt-on, using the Bango Platform to enable these offers to be delivered,” the company said in a statement.

Synairgen PLC (LON:SNG) noted that it has submitted a patent application for its inhaled interferon beta asset, SNG001. The AIM-listed respiratory drug developer said the application is to use SNG001 to treat virus-induced exacerbations in patients suffering from Chronic Obstructive Pulmonary Disease (COPD) and undergoing treatment with systemic corticosteroids. The application follows the results of interim analysis of Synairgen’s exploratory Phase II clinical trial of SNG001 in COPD patients, released on Tuesday, which revealed that the treatment is well tolerated in the older population studied and that lung antiviral responses were “significantly enhanced”.

IronRidge Resources Limited (LON:IRR) has kicked off its ‘Third Phase’ drill programme at the Zaranou gold project in Côte d'Ivoire. The group said the programme will comprise some 50,000 metres of drilling – with 20,000 metres reverse circulation (RC), and 30,000 metres of aircore (AC) drilling. Two RC rigs will be in operation alongside one AC rig. The RC portion of the programme is slated to complete in the fourth quarter. The group has a stated goal of providing results upon which IronRidge can define a maiden mineral resource estimate.

Directa Plus (LON:DCTA) has published a two-year research study into the benefits of the use of its graphene additive G+ in advanced textiles and fashion. The study, published in the Journal of Applied Polymer Science, was carried out at the Politecnico di Milano by a team led by Professor Luigi De Nardo with the technical support of Fondazione Politecnico di Milano. Directa Plus said the findings confirmed that: G+ graphene nanoplatelets (GNPs) comply with ISO/TS 80004-13:2017 definition; there is a  very high crystalline quality of the GNPs, which is crucial for applications where thermal and electrical conductivity is targeted; and G+ GNPs confer very high in-plane thermal conductivity to functional membranes, endorsing their use for thermal comfort.

Power Metal Resources PLC (LON:POW) told investors it has completed a ‘due diligence’ exploration programme at the Silver Peak project in British Columbia. The company noted that a total of 11 channel samples were taken and have been submitted to a lab, in Vancouver, for expedited assay testing. Additionally, the Power Metal team is reviewing the exploration work undertaken and the initial findings. It expects to update the market again with the results and a decision over its acquisition option, in line with the agreed 30-day option period.

Echo Energy PLC (LON:ECHO) has told investors it is investing in its operations in Argentina to boost performance. The company has acquired compressors, previously on lease at a cost of US$2.2mln over 36 months, which are used to lift pressure in gas transport pipeline. The transactions enable some US$100,000 of operating expenses to be saved per month and gives security for future operations. Echo said it is better able to facilitate anticipated production growth in the future.

Newmark Security PLC (LON:NWT) has said it is “confident that there will be medium to long-term growth” in its core markets as it delivered its full-year results. In an outlook statement, the security systems provider said it is continuing to “build a greater proportion of recurring revenues” in its People and Data Management division, while its physical security solutions business is continuing to benefit from a restructuring last year and an increase in its product range. Newmark also said that its leadership team had “identified new markets and customers” amid increasing crime rates and the continued threat of terrorism which it said will “firmly position” its Safetell business for future.

Inspired Energy PLC (LON:INSE) has resumed dividend payments and is looking for more acquisitions following an uptick in corporate energy usage in recent months after the end of the coronavirus (COVID-19) pandemic lockdown. The consultant, which helps companies reduce their energy bills, said acquisitions helped revenue in the half-year to June 30, 2020, rise by 25% to £20.9mln. Corporate orders also increased to £61.5mln following significant new customer wins .said Inspired. Trading currently remains in line with the board's expectations, said Inspired, which announced an interim dividend of 0.1p and in line with a policy of at least three times earnings cover.

I3 Energy PLC (LON:I3E) chief executive Majid Shafiq has described 2020 as a transformational year for the company. “We are now a substantial production company with a full cycle E&P portfolio containing multiple options to create and return value to our shareholders,” Shafiq said in the firm's interim results statement. “We will continue our efforts in the remainder of 2020 and beyond to grow our production business and build the scale required to efficiently and effectively maximise and sustain value creation." I3 has agreed two acquisitions in Canada to create the production business, and, recently, also advanced its high value-adding project in the North Sea.

MaxCyte, Inc. (LON:MXCT) (LON:MXCL) has announced that former healthcare analyst Amanda L. Murphy has joined the company as its chief financial officer (CFO) from today. The company added that Ron Holtz, who has served as MaxCyte's CFO since 2005, will become senior vice president and chief accounting officer (SVP & CAO). The global cell-based therapies and life sciences company noted that, before joining MaxCyte, Murphy served as a managing director of BTIG. She has specialized in gene therapy, gene editing and cell therapy equity research for both burgeoning private and established public healthcare companies.

Galantas Gold Corporation (LON:GAL) has announced the appointment of Alan Buckley as its chief financial officer (CFO) with effect from September 30, 2020. The group said Buckley’s appointment follows the reducing of work commitments by Leo O'Shaughnessy, the current non-board CFO. Buckley's appointment is similarly non-board. Buckley has held the positions of chief financial officer and general manager at Vedanta Lisheen Holdings Ltd and was chief financial officer for Anglo American Lisheen Mining Ltd.

Integumen PLC (LON:SKIN) said it has received notification from a holder to exercise warrants over 500,000 shares in the share capital of the company at an exercise price of 2p each.  The consideration for the exercise amounts, in aggregate, to a cash value of £10,000.

Tavistock Investment PLC (LON:TSK) has announced the appointment of Allenby Capital as its nominated adviser and broker with immediate effect.

OKYO Pharma Limited (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, has announced that it will hold its annual general meeting (AGM) on September 25, 2020, at 10.00am. As the company expects significant restrictions on personal movement to still be in place due to the coronavirus pandemic, this year's AGM will be an electronic meeting only. All voting at the resolutions at the AGM will be conducted on a poll (a requirement of our recently adopted articles of association) which means that shareholders should submit their proxy (by post or, preferably, online voting) as soon as possible. Where possible, questions which shareholders wish to raise be submitted in advance to [email protected].

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