Falanx Group Limited (LON:FLX) added one-fifth to its value at 1.35p as it confirmed executive directors and some senior directors will be making salary sacrifices.
As sacrifices go, these are not exactly without some form of compensation; in this case, the persons involved will be offered options over 31.4mln (in aggregate) new shares and warrants covering 1.6mln new shares,
To reduce the amount of dilution shareholders might face, this new option pool has been created partly by the waiver of certain share options over 25.7mln shares granted in March and December 2018 to directors and senior managers.
2.30pm: Joules on the rise after reporting strong demand
The extra dosh will help it cope during the disruption caused by the coronavirus pandemic.
The AIM-listed clothier said customer engagement on its online channels is “strong”, and demand is “ahead” of expectations set at the time of entering the lockdown.
1.30pm: HemoGenyx Pharmaceuticals boosted by further patent protection
The European Patent Office has issued a notice of its decision to grant a patent entitled Post-Natal Hemogenic Endothelial Cells and their isolation and use under Patent Number 3068875.
“The issue of the European patent is significant for the company as it extends Hemogenyx’s commercial rights in Europe, thereby further solidifying and protecting Hemogenyx’s position as a leader in the area of cell therapy, and helping to place Hu-PHECs [hematopoietic stem cells ] at the foundation of the development of novel methods of combatting blood cancers and auto-immune diseases,” said Dr Vladislav Sandler, the chief executive officer of Hemogenyx.
12.30pm: Arkle to jump to it
The drill programme is slated to start in August, subject to coronavirus (COVID-19) restrictions.
Arkle chief executive Patrick Cullen highlighted that the company’s partner, Group Eleven believes that Stonepark has the potential to host a ‘Tier 1’ discovery, akin to the Navan zinc deposit.
11.30am: Blue Prism advances after senior personnel acquire shares in fundraising
The company has conditionally raised around £100mln from the share placing.
A number of directors and senior personnel bought some of the newly issued shares, with Jason Kingdon acquiring 90,909 shares (taking his stake to 6.3%); Alastair Bathgate 18,182 shares (5.4%); Charmaine Carmichael 4,545 shares (0.4%) and Chris Batterham 2,250 shares (0.2%).
10.30am: Gfinity surges after hooking up with YaLLa Esports
YaLLa Esports is one of the leading esports teams in the Middle East and North Africa region, an area that currently has been untouched by Gfinity’s RealGaming101 website.
RealGaming101.me will be launched later this month targeting 93mln engaged gamers in the region.
9.30am: Michelmersh Brick to reopen plants; Chesterfield soars on gold prospect in Cyprus
Michelmersh Brick Holdings Plc (LON:MBH) shares advanced 7.9% to 102.5p in early trade on Tuesday as the group announced it would begin an orderly and safe recommencement of production across its plants.
Operations at its plants were suspended on March 30 due to the coronavirus lockdown, since when the company has carried out an extensive health and safety review.
To keep staff as safe as possible, the group said it has realigned its operations “to meet and exceed government guidelines”.
The company’s technical team has just completed an evaluation of Chesterfield’s Cypriot exploration licences in terms of their potential for gold. Based on numerous gold encounters in the area, the team has concluded that that the company’s Troodos West licences cover an unusually gold-enriched VMS (volcanogenic massive sulphide) belt, capable of producing a clean gold-rich copper concentrate.
As such, gold is likely to be a significant revenue metal contained within copper-zinc sulphide resources, Chesterfield said.
Proactive news headlines:
Gfinity PLC (LON:GFIN) has signed a contract with YaLLa Esports, one of the leading esports teams in the Middle East and North Africa (MENA), to expand its RealGaming101 website into the region. The esports media firm said the partnership will see a new Arabic MENA focussed website, RealGaming101.me, launched later this month targeting 93mln engaged gamers in the region.
Equals Group PLC (LON:EQLS), the business-to-business-focused e-banking and payments group, said revenues in the first quarter of 2020 were up 32% year-on-year at £8.3mln. In an update, the company said its business-to-business (B2B) accounted for 67% of the revenues, up from 46% in the same quarter of 2019 and 52% for the whole of 2019. The group said the “robust” first-quarter performance was driven by its international payments operations, where revenue was up 116% year-on-year (YOY) and corporate banking, where revenues were up 30% YOY.
Kromek Group PLC (LON:KMK) announced that it has received a Queen’s Award for Enterprise for its contribution to international trade. The supplier of radiation detectors said it was recognised for its “outstanding” growth in overseas sales, up 52% in the three years to April 30, 2019. “It is an honour to receive this prestigious award following a period of significant international growth for Kromek,” chief executive Arnab Basu said in a statement.
MaxCyte Inc (LON:MXCT) said it “remained highly confident” after a strong year operationally and financially, although it recognised the coronavirus lockdown would have some impact on the business. The company, which earns its commercial income from its cell engineering expertise, saw revenues for the year to December 31, 2019, jump by 30% to US$21.6mln.
Personal Group Holdings PLC (LON:PGH), the provider of employee services in the UK, has confirmed that its underlying earnings were ahead of expectations in 2019. The group had tipped the wink last month about the better-than-expected performance and revealed Tuesday that its adjusted underlying earnings (EBITDA) clocked in at £11.0mln for 2019, down 4% from £11.4mln the year before but a bit better than investment analysts had been forecasting. Profit before tax rose 3% to £10.5mln from £10.2mln the year before on revenue that jumped 28% to £70.9mln from £55.3mln.
Power Metal Resources PLC (LON:POW) has said the ground position at the Alamo gold project has been significantly expanded, following a staking campaign undertaken by its local partner in the USA. The additional claim areas are being registered with the County and Bureau of Land Management and expanded land position will now cover an area potentially containing a proximal bedrock gold source for the 60 ounces of nugget mineralisation already identified near-surface. Power Metal Resources owns an option over the project, and is currently undertaking due diligence.
Franchise Brand PLC’s (LON:FRAN) plumbing businesses, Metro Rod, Metro Plumb and Willow Pumps, have seen “continuing demand” for a majority of their services, which have been designated as ‘essential’ under the UK government’s pandemic rules. In a trading update released after the close on Monday, the franchise business said it expected the B2B division, which includes Metro Rod, Metro Plumb and Willow, to continue to trade profitably during the coronavirus lockdown, adding that in the first quarter of the year, earnings (EBITDA) for the division were 42% higher year-on-year, while growth in Metro Rod system sales accelerated to 19% from 14%. Meanwhile, the company’s B2C division, which includes its brands ChipsAway, Ovenclean and Barking Mad, was 5% ahead of the prior year in the first quarter, although the company said it had “significantly reduced or eliminate” franchise fees as the pandemic impacted customer demand for the franchisee’s products from early March. Franchise Brands also unveiled plans for a share placing to issue up to 19.9% of its current issued share capital, with certain directors and senior management to participate for a minimum of £2mln.
Benchmark Holdings PLC (LON:BMK), the aquaculture genetics, health and nutrition business, has announced that Alex Raeber is stepping down as its chief scientific officer. In a statement, the firm said Raeber will cease to be a director of the company with effect from July 31, 2020. It added that he has decided that as the company is moving from a research & development investment phase into commercial execution, the time is right to move on to pastures new.
Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLSA), the US and UK-listed biotechnology company focused on the discovery and development of novel molecules to treat human disease in oncology and immunology, said it has convened a general meeting to consider proposals to take increased authorities to allot shares; consider the replacement of share option awards and to adopt new articles of association. The meeting will be held on Wednesday, May 6, 2020, at 11.00am and, as the firm expects significant restrictions on personal movement to still be in place due to coronavirus (COVID-19, it will be an electronic meeting only.
Cello Health PLC (LON:CLL), the global healthcare-led advisory group, announced that its annual general meeting (AGM) will be held at 12.30pm on Wednesday, May 20 at the offices of Cello Health Consulting, Cello House, West Street, Farnham GU9 7EQ. The group noted that, further to its announcement on April 9, the board has decided that it is prudent to withdraw the recommendation to pay the final dividend of 2.95p per share, so consequently, the dividend resolution referred to in the notice of AGM will not now be put to the meeting. The company also advised that, if the stay at home measures remain in place, the meeting will be a procedural meeting, and attendance will be limited to a bare quorum comprised of two directors who are shareholders. In the light of these measures, shareholders will not be permitted to attend the AGM and are strongly encouraged to vote by proxy on all of the matters of business by appointing the chairman of the meeting as their proxy by submitting form. It said it has also made arrangements for shareholders holding their shares in certificated form to vote electronically. Copies of the notice of AGM, Accompanying Letter and 2019 Accounts are available to view on the company’s website.
Advanced Oncotherapy PLC (LON:AVO), the developer of next-generation proton therapy systems for cancer treatment, has announced that further to its announcements of April 9, it has convened a general meeting of shareholders to propose resolutions to enable completion of the proposed share subscription. The meeting will be held at 2.00pm on May 11. 2020, and in light of the current British government restrictions placed on public gatherings in response to the coronavirus (COVID-19) outbreak it will not be possible for shareholders to attend in person so they are strongly urged to vote by proxy in advance of the deadline with the circular and form of proxy available on the company’s website.