Infrastructure group Hill & Smith Holdings PLC (LSE:HILS) is higher after completing two deals.
It is buying National Signal, a US-based signal manufacturer, for US$25.3mln with a further US$4mln payable depending on the target's financial performance in the three years following the purchase.
It has also paid £3.7mln for Widnes Galvanising, the UK-based company which plates steel with zinc to protect against corrosion.
The market likes the deals, and its shares are up 4.43% at 1014p.
2.24pm: Netcall better as profits more than double
Netcall PLC (AIM:NET), a provider of intelligent automation and customer engagement software, is in demand after profits more than doubled and it gave an upbeat outlook statement.
The company said full year revenues rose 12% to £30.5mln and profits jumped from £1mln to £2.3mln, helped by growing demand for its cloud-based services.
It said cloud services were now the group's largest revenue stream, comprising around 90% of its new product bookings.
It said trading momentum, particularly for cloud solutions, had continued at the start of the new financial year
Chief executive Henrik Bang said: " Netcall has a significant and growing market opportunity as organisations increasingly implement digital strategies and business models. The market relevance and potential of our solutions are illustrated by the increasing growth rates and was further demonstrated by the important $19mln global contract win announced in June 2022 which resulted in a material upgrade to the company's 2023 expectations...
"The group's trading momentum, which has continued at the start of the new financial year, coupled with a growing order book and higher recurring revenues provide the board with confidence in the group's continued success."
Its shares have climbed 4.26% to 82.88p.
12.33pm: Serinus Energy drops sharply after disappointing drilling result in Romania
Serinus Energy PLC (AIM:SENX) is on the slide after a disappointing drilling result.
The company said that Moftinu Nord-1 exploration well in Romania would be suspended after drilling.
Its said: "Well logging and gas show readings determined that these zones had indications of residual gas, but they do not contain sufficient gas resources to justify proceeding with the testing and completion program for the well."
The cost of drilling the Moftinu Nord-1 well was US$867,000.
Meanwhile in Tunisia, the state-owned drilling company La Compagnie Tunisienne de Forage has confirmed the availability of its CTF-04 rig to perform the workover and installation of artificial lift for the W-1 well in Sabria. The company had previously defaulted on the rig contract, said Serinus.
This rig is expected to be mobilized to the well site and commence work in the fourth quarter of 2022.
Serinus said: " A third-party engineering study contracted by the company estimates that the W-1 well will have mean gross initial production rate of 796 barrels of oil equivalent per day, with the company's net share being 358 barrels."
Serinus shares are donw 26.09% or 3p at 8.5p.
10.41am: First Class Metals lifted by positive assay results in Canada
A day after unveiling a potential acquisition in Canada, exploration company First Class Metals PLC (LSE:FCM) has issued a positve update from a joint venture in the country.
It said preliminary assay results from a sulphide discovery at the Pickle Lake project with Palladium One showed an exceptionally high grade of nickel and copper.
These results come from the first of twelve holes drilled.
Chief executive Marc J Sale said: "'The reporting of the initial results from FCM's West Pickle Lake prospect joint venture add additional evidence that a new district scale nickel (copper) sulphide discovery is emerging on our North Hemlo property.
"Furthermore, as indicated by Palladium One the prospectivity remains open to the west, ground held 100% by FCM.
"Given only the results of the first of twelve holes have been reported and the visual estimation of other drill holes, particularly hole TK-22-70 are equally encouraging FCM anticipates continued support for the potential of the project."
Its shares are up 9.69% or 1.26p to 14.26p on the news.
9.02am: genedrive seeks US approval for genetic variant test
Molecular diagnostics company genedrive PLC (AIM:GDR) is seeking regulatory approval in the US for one of its key products.
It has begun submissions to the U.S. Food and Drug Administration for its MT-RNR1 ID kit, the world's first rapid point-of-care test to screen infants in an urgent care setting for a genetic variant that will cause life-long hearing loss when carriers of the variant are given certain antibiotics.
Those that carry the variant can then be given alternative treatments following detection of the variant by the test.
The company has submitted via the FDA's pre-submission process because there is no exact comparable test in the market already.
Chief executive David Budd said: "The US is a particularly attractive market for this unique test given the potential to save hundreds of individuals from life-long deafness and reduce litigation costs relating to the unwanted side effects from antibiotic use on those carrying the gene variant. Either an FDA 510(k) clearance or the granting of a De Novo request is required to allow us to market this test in the US. Ultimately, we feel that the US market is potentially the most attractive market given its size, birth rates, use of diagnostic testing and reimbursement structure."
Its shares are up 12.27% to 12.25p on the news.
8.39am: Omega Diagnostics boosted by positive trial report
Omega Diagnostics Group PLC (AIM:ODX) is on the rise after a positive report from the World Health Organisation.
The company sold its CD4 Business to Accubio Limited in August, and will receive additional payments depending on successful trials. It expects to receive up to an additional £4mln, contingent on the successful outcome of a clinical study in Kenya, required in order to maintain the test's WHO pre-qualification status
Now it says WHO has issued a draft performance evaluation report for the Visitect CD4 advanced disease rapid test. This is an important milestone towards completing pre-qualification and releasing the deferred funds to the company.
Omega now has until 3 November 2022 to review and comment on the draft report and the results submitted.
Chief executive Jag Grewal said: "We are extremely pleased to receive this draft report, detailing that the test has shown high diagnostic accuracy. Whilst we have no visibility of the WHO pre-qualification requirements, it is encouraging to formally receive these positive results. If the [test] successfully meets all WHO pre-qualification requirements, it will continue to be made available for sale by Accubio and the company will receive the full £4mln of deferred consideration. We look forward to updating shareholders on the outcome in due course."
The news has sent its shares up 17.39% to 2.7p.
Elsewhere Vertu Motors (AIM:VTU) has accelerated 10.75% to 49.9p after the car dealer said full year profits were now expected to be ahead of market forecasts following a strong performance in the key month of September despite continuing supply constraints.
Meanwhile half year revenues rose from £1.9bn to £1.99bn although adjusted pre-tax profits fell from £51.8mln to £28.2mln.
It said government action regarding energy costs and National Insurance rates would benefit the group in the second half.
It added it had a strong pipeline of possible franchise dealership acquisitions in place.