Politics

ADM Energy climbs on appointment of UK Government Minister to board

ADM Energy PLC (LON:ADME) climbed 17% to 5.12p after appointing a former UK Government Minister for Africa, Sir Henry Bellingham, as a non-executive director of the oil and gas investor.

Over his 40-year Parliamentary career, Bellingham held a number of other senior positions including Foreign Office Minister for the UN, Caribbean, Overseas Territories and Conflict Issues as well as chairman of the Westminster Foundation for Democracy.

“The addition of Sir Henry, with his high-ranking contacts and expertise in Africa, will be a great asset to ADM as we push forward our strategy to expand our investment portfolio across Nigeria and West Africa,” commented Peter Francis, ADMs non-executive chairman.

2.50pm: Dignity climbs despite swinging to half-year loss

Dignity PLC (LON:DTY) climbed by a third to 316.5p in the afternoon despite swinging to an interim loss before tax of £13mln against last years £58mln profit.

The funeral operator saw revenue advancing 9% to £169mln in the six months to June 26, with deaths rising 18% to 368,000 due to the pandemic.

The average income per funeral was materially lower due to restrictions in client choices.

1.20pm: Network International tumbles on discounted placing

Network International Holdings PLC (LON:NETW) tumbled 11% to 402.6p in the early afternoon after raising £205mln by placing 50mln shares at an 8.9% discount to Tuesday closing price.

The proceeds will be mostly used to fund the acquisition of DPO Group which totals US$288mln.

The FTSE 250-listed payment solutions firm said the shares amount to 10% of its existing issued ordinary share capital.

11.15am: Immotion Group soars as aquariums start to reopen

Immotion Group PLC (LON:IMMO) soared 42% to 2.7p after announcing it has seen encouraging levels of revenue coming from some of its recently reopened partner sites.

The out-of-home virtual reality entertainment specialist said a number of its sites were showing “very high levels of utilisation” following their reopening, with two new installations at the Oklahoma Aquarium and Mystic Aquarium operating at almost full capacity.

The AIM-listed firm added booking and revenue have been very encouraging at its own ImmotionVR centres in the UK while its largest installation to date, the Ocean Explorer Immersive Theatre at Shark Reef Aquarium, Mandalay Bay Resort & Casino in Las Vegas, is expected to open within the next seven days.

10.05am: Microsaic Systems tanks after putting itself for sale

Microsaic Systems PLC (LON:MSYS) tanked 31% to 0.38p in mid-morning after mulling over a potential sale following a strategic review.

The developer of substantially differentiated point of need mass spectrometry instruments was hit by the coronavirus crisis and struggled to find support to raise equity.

The AIM-listed company is considering a full or partial sale as well as strategic investment by a business partner or other market participant.

Meanwhile, Rockfire Resources PLC (LON:ROCK) slipped 10% to 1.74p after completing a share placing to continue funding its Plateau Gold Deposit in Australia.

The miner raised £1mln by placing 64mln shares at 1.625p each, a 15% discount to Tuesdays closing price.

They represent 7.91% of the explorers issued share capital.

8.45am: Cora Gold shines on with new discovery in Mali

Cora Gold Limited (LON:CORA) was an early riser on Wednesday, advancing 10% to 12.61p after revealing the discovery of a new 1,500-metre gold zone adjacent to its flagship Sanankoro Gold Project in Mali.

The AIM-listed miner said the zone adds to the new 1.5-kilometre gold zone identified in another permit on the border of the project. Results include 6 metres at 1.48 grams per tonnes gold and 11 metres at 1.28 grams per tonne gold.

Elsewhere in the resources sector, Sunrise Resources PLC (LON:SRES) shot up 22% to 0.21p on the back of news it has been granted a mine permit for the CS perlite-pozzolan project in Nevada, US.

It means the project can move into the trial mining stage, along with advancing detailed engineering work, financial modelling and mine finance evaluation.

Sunrise chairman Patrick Cheetham described it as “a major value-adding milestone” for the company which puts the project on the map as just one of few permitted deposits of perlite and high-quality natural pozzolan in the United States.

Proactive news headlines:

Immotion Group PLC (LON:IMMO) has said it is seeing “encouraging levels of revenue being generated” from a number of its recently reopened partner sites. The out-of-home virtual reality (VR) entertainment specialist said a number of its sites were showing “very high levels of utilisation” following their reopening, with two new installations completed post lockdown, at the Oklahoma Aquarium and Mystic Aquarium, operating at almost full capacity. Immotion also said it has seen “brisk trade” at its own ImmotionVR centres in the UK, with booking and revenues “very encouraging”.

Sunrise Resources PLC (LON:SRES) told investors it has received a mine permit for the CS perlite-pozzolan project in Nevada, USA. It means the project can move into the trial mining stage, along with advancing detailed engineering work, financial modelling and mine finance evaluation. Chairman Patrick Cheetham described it as “a major value-adding milestone” for the company which puts the project on the map as just one of few permitted deposits of perlite and high-quality natural pozzolan in the United States.

LoopUp Group PLC (LON:LOOP) said it has extended its flagship solution, LoopUp, to include global cloud voice services via direct route integration with Microsoft Teams alongside its premium remote meetings capability. The conference call and remote meeting specialist said the new capability will allow users to make and receive voice calls directly from their Teams interface on any device irrespective of location. The extension also officially launches a new scope of LoopUp, which has to date been available on a limited geographic basis.

Oracle Power PLC (LON:ORCP) has inked an agreement with the private office of Sheikh Ahmed Dalmook Al Maktoum which will see them potentially partner and collaborate to explore potential mining opportunities in Africa. Sheikh Ahmed Dalmook Al Maktoum – a prominent Emirati – via the HH Private Office vehicle, currently develops and owns various projects across the natural resources sector in Africa. Dubai-based HH Private Office is also Oracles largest shareholder, with a 15.1% stake, and is notably supportive of the groups plans at the Thar Block VI project in Pakistan.

Directa Plus PLC (LON:DCTA) announced that it has signed a technical and commercial agreement with Italdesign S.p.A, a global leader in automotive design and engineering. The leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, said the partnership between has been signed for an initial nine years to explore, test, and build automotive components that are enhanced by the properties of the company's proprietary graphene technology. Applications could include car interiors, paints, and mechanical components.

Remote Monitored Systems PLC (LON:RMS) said its security and risk management subsidiary, Cloudveil, has formed a strategic partnership with integrated security solutions firm Axis Security Services Limited. The AIM-listed firm said the partnership will be launched with the delivery of a range of specialist consultancy services at “one of Axiss more prestigious accounts”, with Cloudveil to provide its management information platform, IRIS, at the City of London headquarters of a well-renowned professional services firm.

Primary Health Properties PLC (LON:PHP) has said it is seeing strong demand for extra space created at all levels by the coronavirus pandemic. The company, which operates 490 facilities such as GP and dentists surgeries and pharmacies in the UK and Ireland, provided the update alongside its interim results. They showed a business in rude health with an occupancy rate the envy of the sector at 99.5% and only 2.3% of its rent due to expire in the next three years. The group posted adjusted earnings of £36mln for the six months ended June 30, up 29%. Net rental income was £64.8mln, ahead by a fifth on the same period last year.

Plexus Holdings Plc (LON:POS) told investors it has received a new order for its POS-GRIP surface production wellhead system, with Centrica PLC (LON:CNA) backed Spirit Energy taking the equipment for a new gas well in the UK North Sea. Spirit will receive the 5,000psi leak proof metal-to-metal sealing surface production wellhead and associated spares and equipment for the new gas well. It is slated for delivery in February 2021 It is the second order received from Spirit and notably, it is the companys first new business win since the coronavirus (COVID-19) pandemic struck.

Integumen PLC (LON:SKIN) announced that it has secured a £3mln three year loan facility with Riverfort Global Opportunities PCC Limited and YA II PN, Ltd that requires no loan repayments until calendar year 2021. Initial drawdown of £1.5mln provides the company with working capital to allow it to achieve the board's 2020/2021 objectiveRead More – Source

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