Gfinity PLC (LON:GFIN) has been selected to host the F1 Esports Virtual Grand Prix, a series created to enable fans to watch Formula 1 races virtually. The esports firm said it will oversee the delivery of the tournament, tournament operations and broadcast production for the series, which will be played every weekend in place of the F1 Grand Prix, which has been postponed due to the coronavirus outbreak.
e-therapeutics PLC (LON:ETX) said it is gauging interest in its rapid screening technology as the pharma industry works to find an effective vaccine against coronavirus (COVID-19). Its “in silico”, or computer simulation platform has successfully found active compounds capable of protecting human cells in influenza. The firm, therefore, believes the same strategies could be used to identify combinations of compounds with “useful activity” against Sars-CoV-2, the virus which causes Covid-19.
Amryt Pharma PLC (LON:AMYT) chief, Dr Joe Wiley, said the business is well capitalised and resilient as he provided an update against the backdrop of the COVID-19 outbreak. Pro forma revenues of the newly enlarged group were up 13.1% at US$154.1mln in the year just gone as it reported that a strong end to 2019 carried on into 2020. As at December 31, the firm had US$65mln in cash. Amryt’s debt profile, meanwhile, offers “significant flexibility”, the firm said with no facility set to mature before September 2024.
Directa Plus PLC (LON:DCTA) has pointed out that its Italian operations are exempt from the restrictions recently imposed by the Italian government. The producer and supplier of graphene nanoplatelets-based products for use in consumer and industrial markets is classified as a chemical company in Italy and so is in a protected industry deemed to be providing essential goods and services.
Tekcapital PLC (LON:TEK) soared on Monday as it believes its portfolio firm Belluscura could benefit from a new US policy. The US Food and Drug Administration has issued new guidance to help expand the availability of ventilators as well as other respiratory devices during this pandemic. According to intellectual property firm Tekcapital, the new rules are “potentially relevant” to Belluscura, which develops oxygen-based treatment platforms.
Personal Group Holdings PLC (LON:PGH) has said publication of its preliminary results for the year to 31 December 2019 will be delayed until it receives further advice on timing, following the request of the Financial Conduct Authority (FCA), and the Financial Reporting Council (FRC), for all listed companies to observe a moratorium on publication for at least two weeks The AIM-listed leading provider of employee services in the UK, however, confirmed that its 2019 results are expected to be slightly ahead of market expectations, following sign-off by its auditors when permitted It also said that, with regard to current trading, the group had a strong start to the year with its recently refined strategy showing positive signs.
Alliance Pharma PLC (LON:APH) expects trading this year will be weighted toward the second half and be dependent upon the speed of Asia’s recover from the coronavirus pandemic. In a brief update, accompanying confirmation of a delay to publication of its full-year results, the drugs group said demand in the Asia Pacific region, including China, will be lower in the first half of 2020 but is expected to pick up thereafter.
Vast Resources PLC (LON:VAST) told investors that it continues to expect the start of production from the Baita Plai polymetallic mine in Romania. In a project update, it said: “The company can confirm as matters stand that the previously announced shipping updates made on 16, 18 and 20 March 2020 remain on track and also that the company still maintains the Baita Plai target for the commencement of production announced on 10 March 2020.”
MetalNRG PLC (LON:MNRG) hailed an “eventful year” as it delivered its full-year results for 2019, having listed on the standard segment of the LSE’s main market in July. However, it noted, one of the main events had occurred after the results period, when the natural resource investor supported the listing on the LSE of Cobra Resources PLC (LON:COBR), which through a reverse takeover acquired Lady Alice Mines Pty Ltd, the owner of the Prince Alfred copper mine in Australia.
Skinny Tonic has announced three of its diet mixers are the top sellers in its section on Amazon.com Inc (NASDAQ:AMZN). Skinny Mediterranean, Skinny Indian and Skinny Aromatic are the most popular tonic products based on sales, according to the online retailer.
EQTEC PLC (LON:EQT) has told investors it is working to protect cash resources amid the coronavirus (Covid-19) pandemic, by proactively managing capital expenditure and working capital levels. In a statement, the green-energy company said, specifically, it aims to identify opportunities for savings that will not impact on the long-term success of the company.
Location Sciences Group PLC (LON:LSAI) has said it is “on track to deliver value” in 2020 in an update addressing the impact of the coronavirus (COVID-19) pandemic. The location verification provider said a “large part” of its revenues are repeatable licence deals, while forecasts are weighted towards the second half, taking into account seasonal spikes in advertising.
NQ Minerals PLC (NEX:NQMI) has engaged experienced Tasmanian mining specialist consultants to assist it to prepare a mine re-opening due diligence study to assess the opportunities available at the Beaconsfield gold mine. “In these challenging times, I’m pleased to advise that all of NQ’s operations in Tasmania continue as normal,” said David Lenigas, NQ’s chairman.
AFC Energy PLC (LON:AFC) has raised £1.4mln of new capital to boost financial liquidity so that the business is protected in the event of a prolonged coronavirus (Covid-19) pandemic. An existing institutional shareholder is the sole participant and it is subscribing for 14mln new shares, priced at 0.1p each. The price is marked at an 18.7% discount to Friday’s closing price in London. AFC last week unveiled several measures designed to help mitigate the impact of the coronavirus outbreak.
Bacanora Lithium PLC (LON:BCN) is continuing to make progress on all its workstreams, in spite of the coronavirus crisis. A particular focus remains on the completion of the project engineering work. The timetable for this engineering work has, however, been impacted by delays in Asia and North America due to the ongoing government restrictions. Whilst some weeks of engineering have been lost, completion of engineering and equipment selection is now scheduled for the third quarter of 2020.
Metal Tiger PLC (LON: MTR) has participated in an A$4mln fundraising undertaken by Southern Gold (ASX:SAU). Southern Gold had planned to raise A$10mln, but revised the amount down due to the uncertain market conditions created by the coronavirus. Metal Tiger has participated in the revised fundraise through a subscription for 22mln shares at a total cost of A$2.2 million. Following completion of the revised Fundraise, Metal Tiger will hold a 17.1% interest in Southern Gold.
Europa Metals Ltd (LON:EUZ) was fortunate to complete its first 2020 field season prior to the outbreak of the coronavirus, according to executive director Laurence Read. The European focused lead-zinc and silver developer is thus free to continue with metallurgical and flow sheet work as planned, with all employees apart from a skeleton staff now working from home.
Chesnara PLC (LON:CSN), the life assurance group, confirmed that it will report its results for the year ended 31 December 2019 on Tuesday 31 March 2020. It added, in light of government guidance regarding the Coronavirus pandemic, and in the interest of the health and safety of its staff and business partners, the presentation for analysts will now be held by telephone at 9.30am on 31 March 2020.
FastForward Innovations Ltd (LON:FFWD), the AIM-quoted company focusing on making investments in fast-growing and industry-leading businesses, provide an update after the market close on Friday in respect of investee company, Entertainment Direct Asia Ltd. (EDA), which trades as Yooya, in which the company holds a 12.5% interest which was valued at £1,586,000 in the Interim financial statements dated 30th September 2019. The company said it has been notified that an offer has been made to all shareholders in EDA for a share for share exchange with a newly formed Asia focused social commerce platform company. It added that, whilst it is the stated intention of the acquirer to raise funds at a significant premium to the acquisition price based on the improved value of the combined entities, the implied valuation of EDA in the share for share exchange would see a significant impairment to the value of the company’s investment in EDA. The impact on the longer-term carrying value will depend on the final terms of any fundraising by the acquirer and the resulting success of the business, the group said. Fastforward chairman, Lorne Abony said: “It has become clear over the last few months that the original concept for Yooya could not be monetized to generate acceptable returns for shareholders. While it is disappointing that we expect to suffer a significant unrealised loss in the event the Acquisition concludes, I believe that Yooya may become a major constituent in a group uniquely positioned to create the trusted platform for consumers across China, and subsequently more widely across Asia.”
SDX Energy PLC (LON:SDX), the MENA-focused oil and gas company, said that as a result of the announcement made by the Financial Conduct Authority on 21 March 2020 requesting that, as a result of COVID-19 uncertainties, all listed companies should observe a moratorium on the publication of preliminary financial statements for at least two weeks, it has been forced to delay today’s planned publication of its preliminary financial statements and its audited financial and operating results for the year ended 31 December 2019. The company said it is in dialogue with AIM and other regulatory authorities on this matter and will endeavour to seek permission to release its preliminary financial statements and its audited financial and operating results for the year ended 31 December 2019 as soon as possible.
S&U PLC (LON:SUS), the specialist motor finance and property bridging lender, also announced that the publication of the company’s Full Year Results for the period ended 31 January 2020 will be delayed beyond 24 March 2020, the date S&U previously stated it had expected to announce them. The group said the decision was made following a request by the Financial Conduct Authority (the FCA) to all public companies that, in the light of the ongoing COVID-19 developments, they delay making preliminary announcements that were due the week commencing 23 March 2020.
OptiBiotix Health PLC (LON:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announced that it will be changing its accounting reference date and financial year-end from 30 November to 31 December to align financial reporting with similar companies on other international exchanges. The change reflects the growing globalisation of OptiBiotix’s products and will facilitate research analyst coverage with comparator microbiome-based companies on international exchanges like NASDAQ where end of calendar year financial reporting is more common. Stephen O’Hara, CEO of OptiBiotix commented: “Despite the current general market volatility the board remain focused on creating a profitable and sustainable global business and building shareholder value. As we grow the presence of our ingredient … brands in global markets we need to facilitate research analyst coverage with comparator microbiome-based companies on international exchanges. Moving our end of year forward one month supports this aim. As interest in the microbiome and OptBiotix’s products grows improving international research coverage of OptiBiotix creates market interest and with it the opportunity to explore the possibility of a dual listing, particularly in those markets where there is potential for greater liquidity and valuation.”