The share price of Lamprell PLC (LSE:LAM, OTC:LMPRF) cranked 21% to 37.9p after it was tipped the wink about a future contract award.
The company said it has received a limited notice to proceed (LNTP) from the Saudi-based contractor, Bas Global Marine Services (BGMS), in anticipation of the full award in the second quarter of this year.
The full scope of work on this large contract (valued somewhere between US$51mln and US$150mln) relates to the delivery and construction of multiple jack-up lift barges to BGMS.
1.00pm: Ironveld dives after it issues shares to pay the bills
Ironveld PLC (AIM:IRON) dived 11% to 1.05p after it issued 6.88mln shares at 0.7853p a pop.
The shares were issued to settle fees due to certain contractors.
The issue price is the same as for the share issue announced by the company earlier this month.
11.45am: GSTechnologies surges after FCA approves AngraFX acquisition
GSTechnologies Limited shares have rocketed 80% higher to 2.8p after it said the City watchdog has apprroved its acquisition of AngraFX, a low-cost provider of foreign exchange business and payment services.
The Financial Conduct Authority has approved the change of control of Angra Limited, GSTechnologies said, allowing the deal it announced in October to be completed.
Operating under the AngraFX brand name, the target company is an FCA approved authorised payment institution (API).
Tone Goh, chairman of GST, said: "We are very pleased to have received FCA approval for the change of control of Angra. Angra, based in London, will form a cornerstone for the development of our blockchain-enabled neobanking business, providing an established, appropriately regulated, base on which to build our planned UK business."
10.27am: CVS bitten by watchdog
Vets group CVS Group PLC (AIM:CVSG) has seen its shares scamper off the lead this morning, down 7% to 1,743p, after it revealed that the Competition & Markets Authority (CMA) has decided that the company's completed acquisition of Quality Pet Care Ltd "may have resulted in a substantial lessening of competition" in five locations.
The AIM-listed group said it is "naturally disappointed" with the decision, believing it is the first case in which the CMA has assessed local competition in the veterinary sector, "and have good grounds for believing that it would ultimately be overturned should we commit to a phase two investigation".
The eight-practice Quality Pet Care chain was acquired in August 2021 for consideration of £20.4mln.
CVS said it "remains confident in the future growth prospects".
9am: Aeorema puts on good show
Aeorema Communications PLC’s (AIM:AEO) shares put on a show in early trade on Friday, up 12% to 80p after the live events agency said it expected to report its first profitable half-year in a number of years.
Revenues are expected to be at least £4.9mln thanks to a strong performance from the London-based company’s US office, which opened during September 2020, and from the shift into providing virtual online conferences and events.
Chief executive Steve Quah said the performance “far exceeding our expectations for the period” and was “especially positive to see following the transitional period for the company last year, having opened our first office in New York and started to provide consultancy services to our clients”.
Elsewhere, Supply@ME Capital PLC (LSE:SYME) was another early riser, up 10% to 0.1375p on the back of a new partnership for its TradeFlow good monetisation facility with Dubai-based DP World.
Under the partnership, TradeFlow, which allows companies to monetise in-transit and warehoused goods, will be made available under the ‘Cargoes Finance By DP World’ product.
“DP World is a world leader in global supply chain solutions and their innovative CARGOES Finance platform will be a game changer for SMEs, increasing trade opportunities in countries across the world," said SYME chief executive Alessandro Zamboni.