Hurricane Energy PLC (LSE:HUR) perked up 13% to 4.5p on the completion of US$28.5mln of its convertible bonds.
The bonds are due for redemption next year. Cancelling them early will save the company US$2.8mln in debt repayment and interest charges.
Following the cancellation of all purchased bonds, the company will have further reduced its aggregate principal amount of the bonds outstanding to US$108.5mln.
2.10pm: Bidstack the top riser after breakthrough deal with AAA publisher
Bidstack Group PLC (AIM:BIDS, OTC:FTBGF) shares were comfortably the performers on Friday after the company landed a deal with a AAA video games publisher.
The shares more than doubled to 3.8p after the in-game advertising technology firm said the multi-year and multiple advertising format deal will give the company the ability to place advertising across the publisher's mobile portfolio.
The deal also gives Bidstack exclusivity to one of the world's largest sporting franchises, although it did not say which one.
1.15pm: Genel to seek redress from KRG
Genel Energy PLC (LSE:GENL, OTC:GEGYY) shares tumbled 4.9% to 125p after news of its production sharing contracts (PSCs) in Kurdistan.
The oil producer said it has now received formal notices from the Kurdistan Regional Government (KRG) “purporting to terminate the PSCs”. The KRG has also stated that, pending resolution of the dispute as to whether such notices are effective to terminate the PSCs, it will not perform those obligations under the PSCs that would enable Genel to progress the development of the Bina Bawi and Miran fields.
The board of Genel has concluded that it is left with no practical alternative but to accept that the PSCs are terminated as a consequence of the KRG's repudiatory breach and to claim compensation from the KRG. Genel's claims are substantial and will be brought in a London seated international arbitration to be commenced in accordance with the disputes process set out in the PSCs.
12.30pm: OMG! The government wants its money back
Omega Diagnostics Group PLC (AIM:ODX) shares have plummeted 29% to 22.8p on Friday morning after the company said the UK Department of Health and Social Care have requested its repay £2.5mln.
The repayment has been requested as a contract that would have seen Omega progress to manufacturing tests using equipment provided by the government failed to move to the second phase.
Omega, which saw its shares rise more than 600% at one point last year as it adapted its testing capabilities to provide coronavirus tests, said it has taken legal advice and do not believe that its "is required to repay the pre-production payment and will respond in writing as requested".
The contract fell through "due to the lack of confirmation from the DHSC regarding which test they required", Omega said.
"Acting in good faith we used these pre-production payments, along with our own funds, to upgrade our manufacturing facilities to be able to integrate the Government-furnished equipment [as well as]... bringing on the additional staff required to be able to supply the DHSC using our UK-based volume manufacturing services," the AIM-listed company said.
11.20am: Uncomfortable Experience
Actual Experience PLC (AIM:ACT) saw its shares tumble 41% to 33p after it a year-end trading update revealed a loss before tax on slightly lower revenues and it said efforts to reduce its sales cycle "are being hampered by the pandemic and the resultant elongation of procurement processes".
But on the plus side, the analytics-as-a-service company said it was its first full year operating its professional services 'land and expand' model, which has seen "good progress, faster customer engagement and quicker software deployment", with the launch of a direct sales function and enhanced engagement with channel partners.
It expressed encouragement about "good momentum in our targeting of a growing range of direct and channel partner sales opportunities", including global blue-chip customers and with a total addressable market of growing from 4mln to more than 12mln since January.
The shares are down over three quarters over the past 12 months.
10.02am: Victorian Plumbing directors dip into the market
Following the announcement of full-year results yesterday, Victorian Plumbing Group PLC (AIM:VIC) directors are now free to buy shares and indeed have been doing so.
Product director Neil Radcliffe weighed in with a purchase of 529,267 shares at 94p a throw. The shares currently trade at 97p, up 5.5p (6.0%), so Radcliffe is already in profit.
Yesterday, Philip Bowcock, the company’s chairman, bought 53,000 shares at 92p each.
9.05am: Pathfinder Mins soars as it prepares for dispute over Mozambique mining concession
Pathfinder Minerals (AIM:PFP) PLC shot up 41% to 0.775p after an update on its dispute concerning mining concession 4623C in Mozambique.
The company has significantly advanced its preparation to refer the dispute to the International Centre for Settlement of Investment Disputes (ICSID) under the Mozambique - United Kingdom Bilateral Investment Treaty of 2004.
This preparatory work includes the development of a detailed budget and timeline for claimant costs, the identification of the company's litigation team, and independent professional analysis of valuations for differing successful outcomes at an ICSID tribunal, Pathfinder said.
Open Orphan PLC (AIM:ORPH, OTC:OPORF) said its subsidiary hVIVO signed a contract worth US$13.4mln (£10.13mln) with a US biotechnology company to test its novel antiviral candidate using the hVIVO Influenza Human Challenge Study Model.
The news sent the shares 11% higher to 20.5p.
The study is expected to start in the second half of 2022 and will be conducted at hVIVO's state-of-the-art quarantine facilities in London, the company said in a statement.