Time Out Group PLC (LON:TMO) slumped 19% to 37.5p after it revealed it is reviewing an equity funding proposal that would keep it afloat.
The company said it has informed London & Continental Railways Limited that it no longer intends to proceed with the development of Time Out Market London (Waterloo) due to the impact of the COVID-19 pandemic.
The media and leisure business had previously intended to develop a food court at Waterloo station that would feature 17 of London’s “most acclaimed chefs and restaurateurs, three bars and a space for cultural experiences”.
2.00pm: Crest Nicholson ups guidance after another assist from the government
Crest Nicholson Holdings PLC (LON:CRST) became the latest housebuilder to reveal it is doing very nicely, thank you, sending its shares 6% higher to 397.8p.
In its annual general meeting statement, the company said the UK housing market is set to benefit from the measures recently outlined in the Budget – possibly not the first time it has made that assetion.
The group said it now expects adjusted profit before tax for the year to the end of October to be around £85mln, which is above the current consensus forecast of £74.3mln.
1.00pm: Cambridge Cognition's losses narrow markedly
We’ve featured Oxford BioDynamics (see below) in the Market Movers today so it is only fair to give a shout out to Cambridge Cognition PLC (LON:COG), which is up 10% at 82.5p.
The shares rose on the back of full-year results in which the brain health specialist said its sales order intake in 2020 was up 158% on 2019.
The loss for the year narrowed to £649,000 from £3.1mln the year before.
12.05pm: roller-coaster ride for Accesso continues
Accesso PLC (LON:ACSO) shares have had the proverbial roller-coaster ride but were on the climb today after a cautiously upbeat outlook statement in its full-year results.
The shares rose 7.7% to 560p after the queue-jumping and ticketing software firm said it is cautiously optimistic over 2021 even though most of the theme parks and attractions that use its virtual queueing and ticketing technology remain shut.
January and February revenues were down 19% on the same period a year ago, which Accesso said was a strong performance given that Coronavirus (COVID-19) restrictions are still in place in most regions.
11.10am: Succession plans at MyCelx get the thumbs-up
The market reacted positively to a changing of the guard at MyCelx Technologies Corporation (LON:MYX), sending the shares 5.8% higher to 46p.
The clean water and clean air technology experts said that non-executive chairman Tim Eggar is to quit the role in July to be succeeded by fellow board member Tom Lamb.
“The next chapter of the MYCELX story is set to be a very exciting one, and I leave the company in the safest of hands at both board and senior management levels. I am grateful for the support I have received during my tenure, and look forward to watching MYCELX's continued success,” Eggar said.
10.15am: Oriole rises after funding agreement for the Senala gold project
Oriole Resources PLC (LON:ORR) hardened 12% to 1.01p on funding news for the Senala gold project.
The company has reached an agreement with joint venture partner IAMGOLD Corp (IAMGOLD) over funding the exploration work at the Senala gold project in Senegal.
IAMGOLD will carry forward an underspend of US$172,000 from the third year of exploration work into Year 4 and proposed a spending programme covering the shortfall and meeting the Year 4 commitment of US$1.5mln before 28 February, 2022.
9.20am: Oxford Biodynamics soars as it launches its Coronavirus severity test in US
Oxford Biodynamics PLC (LON:OBD), up 73% at 120p, was the best performer in London after it launched its EpiSwitch COVID-19 Severity Test in the USA.
The company said EpiSwitch “is a highly accurate prognostic test that predicts personalised risk of severe illness due to SARS-CoV-2 virus”.
Requiring only a routine blood draw, the prognostic test is able to identify high-risk individuals who, if exposed to the SARS-CoV-2 virus, are likely to experience the most severe COVID-19 complications and will potentially require hospitalisation and intensive care unit support.
Biome Technologies plc (LON:BIOM), up 34% at 355p, was another stock fast out of the traps this morning on the back of contract news.
The bioplastics and radio frequency technology business has got an anticipated contract win over the line. It has secured a contractual commitment with a second US end-customer to accelerate the commercialisation of its proprietary compostable filtration material.
The contract win will provide a significant portion of the group's expected revenue growth in 2021 and beyond, Biome said.
Proactive news headlines:
Teleradiology specialist Medica Group PLC (LON:MGP) is expanding into the fast-growing clinical trials market with the £15.6mln acquisition of RadMD, a US-based imaging contract research organisation (iCRO).
ADM Energy PLC (LON:ADME) announced it has conditionally agreed to invest in the development of the Barracuda oil field.
Emmerson PLC (LON:EML) has hailed the appointment of James Kelly, the founder of private equity firm Greenstone Resources, as its new non-executive director (NED) who joined the board on March 22.
PowerHouse Energy Group PLC (LON:PHE) has identified 77 sites in the UK as potential locations for facilities using its waste-to-energy DMG technology. In an update to the market on the company’s progress, Powerhouse said the development of the UK pipeline will form the springboard for the international expansion of the Powerhouse business model.
Oriole Resources PLC (LON:ORR) said it reached an agreement with joint venture partner IAMGOLD Corp (IAMGOLD) over the funding of exploration work at the Senala gold project in Senegal. IAMGOLD will carrying forward an underspend of US$172,000 from the third year of exploration work into Year 4.
IQGeo Group Plc (LON:IQG) said it expects to make further progress in profitability and cash flow generation in 2021 as recurring revenues continue to grow.
Mailbox REIT said it will be listing on the wholesale segment of International Property Securities Exchange next month.
Iconic Labs PLC (LON:ICON) said it has appointed Brad Taylor to the board as its new chief executive and that former CEO Sarah Dees has stepped down from the role with immediate effect.
Caerus Mineral Resources PLC (LON:CMRS) has made good progress with analysis in regards to its projects in Cyprus, and is well ahead of schedule with compilation and creation of a substantial database and Geological information System based on records held by the Mines Department of Cyprus and the Geological Survey. With 14 former producing mines on the Caerus licences, there is a sizeable volume of useful historic information to be processed to provide the basis for 3-D modelling and interpretation of the project geology.
LoopUp Group PLC (LON:LOOP) said it has delayed the publication of its results for the year to December 31, 2020, saying that a routine technical review by the group's auditor, Grant Thornton, has not been completed in time for the preliminary release, regarding the amortisation treatment of intangible assets from the acquisition of MeetingZone in 2018. The company said this is a non-cash, technical accounting review and reconfirmed its in line 2020 results which include revenue of £50.2mln compared to £42.5mln in 2019, and earnings (EBITDA) of £15.3mln, up from £6.4mln the year before. The group added that it is working with its auditors to complete the review and will provide clarity on a revised date for our preliminary results as soon as possible.
Panthera Resources PLC (LON:PAT) has noted that the Government of India has passed a new bill (MMDR2021) to amend the Mines and Minerals (Development and Regulation) Act of 2015 (MMDR2015). MMDR2021, which has now been passed by both houses of Parliament, is expected to become law in the second quarter of this calendar year. The company believes that the new MMDR2021 may have an impact on its joint venture partner, Metal Mining India Pvt Ltd, in terms of its right to secure approval for its prospecting licence applications (PLAs) for the Bhukia and Taregaon projects.
H&T Group Plc (LON:HAT) said it delivered a strong financial performance in 2020 despite the impact of the coronavirus (COVID-19) pandemic.
Amryt Pharma PLC (LON:AMYT, NASDAQ:AMYT) said it has received positive feedback from the American drug regulator as it seeks sign-off for its Myalept drug for use in patients with partial lipodystrophy (abnormal distribution of fat).
Ergomed PLC (LON:ERGO), which provides specialised services to the pharmacetuical industry, saw underlying earnings (EBITDA) surge in 2020.
Alliance Pharma PLC (LON:APH) tripled its dividend for 2020, saying the new year has started well as it integrates the substantial acquisition of Biogix and eyes other opportunities to add to its portfolio.
Quadrise Fuels International PLC (LON:QFI) has announced the results of its open offer fund raise which was significantly oversubscribed.
Chariot Oil & Gas Limited (LON:CHAR) has agreed to acquire a renewable and hybrid power developer in a deal worth up to US$2mln, paid mostly in shares.
Tavistock Investments PLC (LON:TAVI) has rejected a takeover offer from AIM-listed Team PLC (LON:TEAM).
Personal Group Holdings PLC (LON:PGH) said it has recently started its strategy to expand into new markets as it “substantially” expanded the pipeline of employees to whom it can sell products.
Alpha Growth PLC (LON:ALGW)(OTCQB: ALPGF) announced it has completed the share purchase acquisition of Bermuda-based holding company Northstar Group and its wholly-owned Providence Life Assurance Company.
Belvoir Group PLC (LON:BLV) said its chief executive Dorian Gonsalves and its chief financial officer Louise George will provide a live presentation to retail investors reporting on the roup's final results for the year ended December 31, 2020 via the Investor Meet Company platform on 12 April 2021 at 4.30pm BST.
KRM22 PLC (LON: KRM) said it has posted to shareholders the Annual Report & Accounts for the year ended December 31, 2020, as well as a notice of the Annual General Meeting to be held on April 28 2021 at 10am.
Applied Graphene Materials PLC (LON:AGM) said it has appointed Allenby Capital Limited as the company's joint broker with immediate effect.