Eden Research in demand after Australian patent

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

Cerillion Technologies Limited - Cerillion rises with largest ever contract win

Eden Research PLC (LON:EDEN) grew 6% to 7p before close after its Sustaine encapsulation technology was granted a patent in Australia.

The sustainable biopesticides firm said it is the first patent specifically covering the use of Sustaine with third party active ingredients to be granted anywhere in the world.

These microcapsules are naturally-derived, biodegradable micro-spheres produced from yeast extract, an alternative to plastic-based microencapsulation technologies which are used widely in fertilisers, encapsulated plant protection products, seed coatings and biocides.

3.10pm: Good Energy Group slips after swinging to interim loss

Good Energy Group Plc (LON:GOOD) slipped 8% to 173p after swinging to a loss due to the pandemic.

In the six months to June 30, underlying loss before tax was £500,000 against last year’s profit of £2.5mln, for revenue up 6% to £67mln.

The clean energy producer said demand is slowly starting to recover although the economic uncertainty remains, while it continues to invest in long-term growth.

2.10pm: PipeHawk climbs after £1.7mln new contract

PipeHawk PLC (LON:PIP) climbed 44% to 6.83p in the afternoon on the back of a contract to provide a 'state of the art' complete manufacturing facility to Isoclad Limited.

Isoclad is a UK-based independent composite panel manufacturer providing customised panels across the data, storage and modular build fields.

The electronic systems group said the project is worth £1.7mln and is due for completion within the current financial year.

12.15pm: Deepmatter dips on deferred consideration shares issue

Deepmatter Group PLC (LON:DMTR) shed 4% to 1.72p after announcing 42mln deferred consideration shares have been issued to publisher Springer Nature related to the acquisition of software company InfoChem.

The AIM-quoted company focusing on digitising chemistry will have 921mln ordinary shares in issue after the deferred consideration shares are admitted to trading, equalling to as many voting rights.

InfoChem, which makes chemical data-management and synthesis prediction software and tools, was acquired in March 2019.

11.30am: Rurelec jumps after turning to interim profit

Rurelec PLC (LON:RUR) jumped 11% to 1.23p in late morning after swinging to an interim profit thanks to the movement in the exchange rate between sterling and US dollar.

The power generation firm posted a £676mln profit before tax for the six months to June 30 against a £454mln loss the year before.

"The board continues to pursue measures to restore value to the company and its shareholders through prioritisation of receiving cash receipts from the power generation plant in Argentina, selling or developing its assets in Chile and reviewing options for its turbine assets, whilst looking for opportunities to reduce costs throughout the group,” said executive directors Simon Morris and Andy Coveney.

10.20am: Mountfield Group slips on disappointing year

Mountfield Group PLC (LON:MOGP) was the top faller in mid-morning, tumbling 32% to 0.65p after admitting 2019 was a “disappointing year”.

The construction support and property services provider recorded its highest annual turnover, up 23% to £21mln compared to 2018.

However, profit before tax slipped 24% to £840,740 mostly caused by the substantial loss that was incurred on a contract that was completed in 2020.

Elsewhere, Eve Sleep PLC (LON:EVE) dropped 14% to 5.5p after forecasting revenue for the year to December 31 is expected to be at least £22mln, compared to £23mln last year.

However, underlying loss is forecast to be lower than original expectations.

The sleep wellness brand’s revenue slipped by 5% to £12mln, while loss before tax narrowed 81% to £1mln.

8.50am: Cerillion rises with largest-ever contract win

Cerillion PLC (LON:CER) was one of the top risers on Tuesday morning, advancing 14% to 336p on the back of news of its largest-ever contract win.

The AIM-listed firm has been contracted by a major UK provider of enterprise connectivity solutions in a five-year agreement worth £11.2mln.

The software solutions provider will supply and implement its Enterprise BSS/OSS Suite, its pre-integrated end-to-end CRM and billing solution to be delivered immediately.

Similarly, Bidstack Group PLC (LON:BIDS) shot up 22% to 6.18p on the back of an exclusive deal with top tier games studio Ubisoft to deliver native in-game advertising into the Hyper Scape game.

Hyper Scape is Ubisoft’s free-to-play, urban battle royale game, with a game mode style like Fortnite. It was launched in mid-August.

Bidstack will now deliver in-game ads across PC and console, Xbox and Playstation versions of the game.

Proactive news headlines:

Bidstack Group PLC (LON:BIDS) has signed an exclusive deal with top tier games studio Ubisoft to deliver native in-game advertising into the Hyper Scape game. Hyper Scape is Ubisoft’s free-to-play, urban battle royale game, with a game mode style like Fortnite. It was launched in mid-August. Chief executive James Draper noted that Ubisoft has become a close partner of the company. Other Ubisoft games, which aren’t attached to today’s deal, include the Tom Clancy franchise of games titles, Watch Dogs, Just Dance, Assassins Creed, and Far Cry. Bidstack will now deliver in-game ads across PC and console, Xbox and Playstation, versions of the game.

OptiBiotix Health PLC (LON:OPTI) has signed a deal with an unnamed US company for the “large scale manufacture and commercialisation” of a line of its SweetBiotix natural alternatives to sugar. The new partner, whose identity is being kept confidential to protect its launch plans, has been granted an exclusive worldwide licence. In return, it will bear the product manufacturing and marketing costs of the roll-out and all future expenditure for a “number” of products. OptiBiotix said it will receive a “modest six-figure payment” on signing the agreement and at 12 monthly intervals until product launch.

Thor Mining PLC (LON:THR) (ASX:THR) has raised just over £1mln from a fundraising round in which key investors and directors featured heavily. Metal Tiger (LON:MTR), the well-known boutique mining finance house that has supported Thor in the past, came in for £150,000, while Artemis Resources Ltd (ASX:ARV) invested £138,000, subject to shareholder approval. Broker SI Capital also invested, as did company directors Mick Billing and Mark McGeough.

Amryt Pharma PLC (NASDAQ: AMYT, LON:AMYT) looks set to receive orphan designation for its preclinical gene therapy for the rare skin condition dystrophic epidermolysis bullosa, which would provide the company with regulatory and financial incentives. A European Medicines Agency (EMA) committee has delivered what’s called a “positive opinion” on the drug candidate, which is normally followed 30 days later by full ratification. Orphan status is designed to aid the development and sign-off of life-threatening or chronically debilitating conditions affecting no more than five in 10,000 people. Incentives include ten years’ EU exclusivity following approval.

Mkango Resources Ltd (LON:MKA) (CVE:MKA) said it has discovered significant showings of titanium dioxide mineralisation in a soil sampling and auger drilling programme at its 869 square kilometre Mchinji licence in Malawi. “Mkango is focused on developing the Songwe rare earth deposit in Phalombe district in Malawi and is looking forward to completing the feasibility study,” Mkango’s president, Alexander Lemon said in a statement. “We are very pleased to add this new rutile and ilmenite discovery to our portfolio of projects in Malawi. These early-stage results show similarities in terms of saprolite-hosted mineralisation to the recent rutile discoveries made on the adjoining Sovereign Metals Ltd licence to the east, and suggest the potential for discovering high-grade rutile deposits within Mkango's large licence area, in what could potentially be a new province of rutile mineralisation."

Emmerson PLC (LON:EML) has highlighted “excellent progress” at its Khemisset potash project in Morocco at what it said is a “pivotal time” for the company. The group noted that multiple work streams are currently in progress to further de-risk the project and provide confidence in its finance and due diligence processes, including geological work that will prepare for and finalise the scope of general site investigation as well as a further seismic survey and additional drilling to further prove out early mining blocks. Emmerson also said engagement with potential strategic partners, debt providers and anchor investors is “proceeding well”, with multiple opportunities being investigated and due diligence processes now underway.

Bango PLC (LON:BGO) has reported record revenue growth in the first half of its current year and reiterated its expectation that end-user spending will hit £2bn by the end of the year. For the six months ended June 30, 2020, the mobile commerce specialist reported revenues of £4.77mln, up 50% year-on-year, while adjusted underlying earnings (EBITDA) came in at £1.09mln, more than double the entire 2019 EBITDA of £0.45mln. The company also said end-user spend in the first half was £743mln and “remains on track” to reach £2bn in the year.

Location Sciences Group PLC, (LON:LSAI), the mobile advertising verification group, boosted its revenues and cut losses in the first half of 2020 in spite of widespread coronavirus disruption. Mark Slade, the company's chief executive, said he was encouraged by the progress over the half-year in the face of the problems caused by lockdown restrictions. The group won its first client for the Verify Audience platform earlier this month. Revenue over the six months to June 30, 2020, increased by 43% to £650,000 while its underlying losses (EBITDA) dropped to £335,000 from £901,000.

Corero Network Security PLC (LON:CNS) has reported narrower losses and higher revenues in its first half as it said the rise in home working and internet use during the coronavirus (COVID-19) pandemic has emphasised the relevance of its services and boosted order intake in the period. For the six months ended June 30, 2020, the AIM-listed group posted a pre-tax loss of US$1.2mln, narrowed from a US$1.9mln loss in the prior year, while revenues jumped 48% to US$6.2mln. Annualised recurring revenues also surged 54% to US$8.8mln. The company also noted that revenues from its DDoS protection-as-a-service contracts had more than doubled to US$1.2mln from US$0.5mln last year.

Filta Group Holdings PLC (LON:FLTA), the commercial kitchen services specialist, said sales continued to recover in July as restaurants reopened after the coronavirus (COVID-10) pandemic lockdown. Month on month revenues grew 40% in each of June and July, the AIM-listed group said, though it added that it is mindful of the ongoing uncertainty caused by COVID-19 disruption. Revenues in the half-year to June 30, 2020, were £8.3mln (2019: £12.2m) as, after a good first quarter, COVID-19 and social distancing restrictions had a significant impact.

Eden Research PLC (LON:EDEN) has announced that the patent behind its Sustaine encapsulation technology has been granted in Australia, the first patent specifically covering the use of Sustaine with third party active ingredients to be granted anywhere in the world. The AIM-quoted sustainable biopesticides and plastic-free encapsulation technology company noted that the patent is for 'Encapsulation of High Potency Actives' allowing for the combination of Sustaine with a wide range of active ingredients from third parties. Sustaine microcapsules are naturally-derived, biodegradable micro-spheres produced from yeast extract, and are one of the few viable alternatives to plastic-based microencapsulation technologies which are used widely in fertilisers, encapsulated plant protection products (PPPs), seed coatings, and biocides.

Deltic Energy PLC (LON:DELT) has told investors that its recent portfolio expansion, via the UK’s offshore licensing round, was “another major milestone” for the exploration company. The license awards, earlier this month, almost doubled Deltic’s footprint with the addition of six licences. Most of the new acreage is in the south North Sea region, where Deltic added four licences to now hold a total of ten licences. This core area for Deltic now comprises over 2,733 square kilometres of contiguous licences, spanning from the exploration close to the Breagh gas field out to the Cupertino area near the Cygnus gas field. Significantly, Deltic noted that it presently retains 100% of the project interest in these assets and as such has maximum flexibility as it seeks farm-down partnership opportunities.

Strategic Minerals PLC (LON:SML) turned in a pre-tax profit of US$261,000 for the six months to June 30, 2020, with after-tax profits ringing in at US$77,000 versus losses for the corresponding period a year ago of US$1mln. The profits were due to a strong performance from the Cobre magnetite operation in the USA. The group's unrestricted cash and cash equivalents at June 30, 2020, were US$533,000.

Symphony Environmental Technologies PLC (LON:SYM) said it has received notice to exercise warrants representing 5,000,000 new ordinary shares of 1p each in the company by Vincel Investment Holdings Limited. The warrants were granted on July 19, 2020. Following allotment, Vincel will be interested in 20,456,900 Symphony ordinary shares representing approximately 11.6% of the enlarged issued share capital of the company. Vincel is owned by Mrs Shruti Lohia, daughter of Mr S P Lohia, who is the chairman of Indorama Corporation, Singapore. In a statement, Michael Laurier Symphony‘s CEO said: "I am very pleased to see Vincel exercise these warrants as further demonstration of their confidence in Symphony and the value that our technologies can have towards helping to improve health and the environment everywhere."

Oracle Power PLC (LON:ORCP) said it has received a conversion notice from the investors in respect of a further £100,000 of the £1.5mln share subscription announced on July 9, 2020, and, accordingly, has issued to them, in aggregate, 15,684,798 new ordinary shares of 0.1p each in the capital of the company. Following the conversion, £0.9 mln remains outstanding for conversion under the share subscription.

Diversified Gas & Oil PLC (LON:DGOC), the US-based owner and operator of natural gas, natural gas liquids and oil wells and midstream assets has said will pay its first-quarter 2020 dividend of 3.50 US cents per share on September 25, 2020, to those shareholders on the register on September 4, 2020. The company noted that shareholders who have elected to receive their dividends in sterling will receive an equivalent payment of 2.69p per share, based on the September 10, 2020, exchange rate of £0.76867=US$1.00.

Instem PLC (LON:INS), a leading provider of IT solutions to the global life sciences market, said it will announce results for the half-year ended June 30, 2020, on Monday, September 28, 2020. It added that the group’s management will be hosting a presentation via web conference on the day of the results at 11.30am. Analysts wishing to join should register their interest by emailing instem@walbrookpr.com or by telephoning 020 7933 8780.

Itaconix PLC (LON:ITX) (OTCQB:ITXXF) has said it will publish its annual report for the year ended December 31, 2019 on September 30, 2020. The company also said it expects to publish its half-yearly report for the six months ended June 30, 2020, by October 31, 2020, as it utilises the permitted extension of up to one month to complete and announce half-yearly reports, as per the guidance set out in 'Inside AIM' dated June 9, 2020.

S&U PLC (LON:SUS), the motor finance and property bridging specialist, has said it will announce its half-year results for the six months ending July 31, 2020, on Wednesday, September 30, 2020. It said there will be a webinar for equity analysts at 09:30 am on the day of results, hosted by Anthony Coombs, its chairman; Graham Coombs, deputy chairman; Chris Redford, group finance director; and Graham Wheeler, CEO of Advantage Finance. Investors wishing to register should contact Newgate Communications at sandu@newgatecomms.com.

Oriole Resources PLC (LON:ORR), the AIM-quoted exploration company focused on West Africa, has said it will announce its interim results for the 6 months to June 30, 2020, on September 22, 2020. The company also notified shareholders that Tim Livesey, its chief executive officer) and Bob Smeeton, its chief financial officer will give a live presentation following the interim results via the Investor Meet Company platform on September 22, 2020, at 11.30am. Investors can sign up to Investor Meet Company for free and add to meet Oriole Resources PLC via: https://www.investormeetcompany.com/oriole-resources-plc/register-investor

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