Mode Global slides after buying out minority interest in its JGOO subsidiary

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Mode Global Holdings PLC (LON:MODE) sank 14% to 41.5p after it bought out the minority interest in one one of its operating subsidiaries, JGOO.

The transaction includes the purchase of JGOO’s technology and the rights associated to it.

Fintech firm said buying Pure NZ gateway’s 45% interest in JGOO gives it full control of its associated partnerships with Tencent and Alipay.

3.30pm: Sensyne Health higher after University of Oxford uses its app for COVID-19 study

Sensyne Health PLC (LON:SENS) advanced 7% to 137.12p in the late afternoon after announcing the University of Oxford is deploying the company’s app in a new COVID-19 clinical study.

CVm-Health+ will be used in the FACTS evaluation of the feasibility and acceptability of new point-of-care tests for regular asymptomatic COVID-19 testing in the community.

The Sensyne technology, which will be available to iPhone and Android users, will provide access to study information and links to training materials, as well as recording the health status and test result data for students and staff and capture a time-stamped photograph of the test result every time one is carried out.

2.35pm: Ascent Resources tumbles after agreeing contract extension

Ascent Resources PLC (LON:AST) tumbled 16% to 5.1p in the afternoon after agreeing a six month extension to a memorandum of understanding signed with Cuban state-owned oil firm CUPET.

Under the preliminary agreement, the AIM-listed firm is given the exclusive right to negotiate the production sharing contracts for the onshore producing Block 9B and onshore exploration Blocks 9A, 12 and 15.

The extension follows delays in country due to COVID-19 measures implemented in Cuba over the last couple of months, while Havana is expected to re-open and accept international travellers in November.

1.50pm: i3 Energy in demand after completing Toscana Energy assets acquisition 

i3 Energy PLC (LON:i3E) shot up 14% to 4.6p after confirming the closing of its transaction to acquire the Canadian assets of Toscana Energy Income Corporation, which further establishes the group’s production business in North America.

Production from the Toscana assets along with assets acquired from Gain Energy, in September, averaged a combined 9,407 barrels oil equivalent per day for the month of October.

Additionally, the Toscana assets come with C$128mln of accrued tax losses, which the oiler said will support tax-efficient income for several years.

1pm: Pathfinder Minerals slumps as it prepares for legal battle with the government of Mozambique

Pathfinder Minerals PLC (LON:PFP) lost more than a fifth of its value at 0.525p after issuing an update on the licences it used to hold in Mozambique.

Following a strategic review of options available to the company, the board has concluded that the prospects of a negotiated settlement with the former local partners have diminished and that the company should seek recourse against the Government of Mozambique.

It plans to commence legal proceedings under the UK bilateral investment treaty of 2004.

11.50am: Ocado upgrades profits guidance

Ocado Group PLC (LON:OCDO) shares, up 9.5% at 2,492p, were flying off the shelves and not just because of a new round of pre-lockdown panic buying.

The technology company has begun to reach its robotic arms beyond the grocery market with two tech acquisitions, while also lifting guidance for underlying profit (EBITDA) for the year after strong trading at its UK retail business.

Full-year expectations for the FTSE 100 technology group’s EBITDA have now been hiked to “over £60mln” from the previous guidance for at least £40mln.

10.45am: Creo lifted by FDA clearance

Creo Medical Group PLC (LON:CREO) surged 5.4% to 156p after it received clearance in the US for its tissue removal device MicroBlate Fine.

The US Food and Drug Administration (FDA) gave the thumbs-up for the device, which becomes the third Creo device to get clearance from the FDA.

Creo’s MicroBlate tissue ablation technology uses Creo’s very high-frequency microwave energy allowing physicians to precisely ablate diseased tissue in multiple organ types and many different clinical access methods.

9.50am: Purplebricks trading well post-lockdown (not that one; the previous one)

Purplebricks Group PLC (LON:PURP), the online estate agency, climbed 8.4% to 62.2p after it said it was trading well ahead of expectations.

The company said its interim results will be well ahead of forecasts after new instructions surged when the first coronavirus (COVID-19) lockdown ended.

“We have seen strong levels of new instructions during the last five months, despite a slow start arising from the lockdown in May,” the group said in a trading update.

9.00am: Horizon Discovery and LiDCO soar as both agree to takeover bids

Horizon Discovery Group PLC (LON:HZD), up 109% at 186p, was the top riser on Monday morning after succumbing to a takeover bid from PerkinElmer Inc.

The boards of the two companies have agreed on a 185p per share cash offer, valuing Horizon at around £284mln.

PerkinElmer UK has received irrevocable undertakings to accept its offer from shareholders representing 21.1% of Horizon’s shares.

LiDCO Group PLC (LON:LID) soared 70% higher to 11.5p and again the reason was an agreed takeover offer, this time from US medtech firm Masimo.

Masimo is offering 12p a share for the London-listed maker of blood flow monitoring devices, valuing LiDCO at about £31.1mln.

Shareholders representing around 37.7% of the issued share capital of LiDCO have already accepted Masimo’s offer.

Proactive news headlines:

Arkle Resources PLC (LON:ARK) said it has identified new gold targets at its gold projects in Ireland, following soil sampling. A programme for trenching and drilling at the Inishowen gold project in County Donegal is planned to commence shortly. Meanwhile, trenching has commenced on the Mine River gold project located on the Wicklow- Wexford county border.

i3 Energy PLC (LON:i3E) has confirmed the closing of its transaction to acquire the Canadian assets of Toscana Energy Income Corporation, which further establishes the group’s production business in North America. Production from the Toscana assets along with assets acquired from Gain Energy, in September, averaged a combined 9,407 barrels oil equivalent per day for the month of October. Additionally, the company noted that the Toscana assets come with C$128mln of accrued tax losses, which it said will support tax-efficient income for several years.

Sensyne Health PLC (LON:SENS) has said the University of Oxford is deploying the company’s app in a new coronavirus (COVID-19) clinical study. CVm-Health+ will be used in the FACTS evaluation of the feasibility and acceptability of new point-of-care tests for regular asymptomatic COVID-19 testing in the community. The Sensyne technology, which will be available to iPhone and Android users, will provide access to study information and links to training materials.

Seeing Machines Limited (LON:SEE) has reported higher revenues in its final results as well as “good momentum” in the first quarter of its current year following increased demand for its driver monitoring technology products. In its results for the year ended June 30, 2020, the AIM-listed firm reported that revenues were up 25% year-on-year at A$40mln, boosted by a 32% rise in revenues from original equipment manufacturers (OEM) due to a pre-production licence deal with a Tier 1 partner. The company also reported a 30% increase in aftermarket revenues despite a slowdown in installations of its Guardian monitoring systems due to the coronavirus pandemic.

Kromek Group PLC (LON:KMK) has entered into a development agreement, worth up to US$660,000, with a US-based, sector-leading industrial original equipment manufacturer (OEM). The majority of the development programme is scheduled to be delivered during the group’s current financial year and, following final completion, it is expected to make the transition to a multi-year supply contract. The AIM-listed supplier of detection technology focusing on the medical, security screening and nuclear markets, said the OEM will customise one of Kromek’s CZT detector platforms so it can be incorporated into its customer’s systems for identifying contaminations during production processes.

Zaim Credit Systems PLC (LON:ZAIM), said the coronavirus pandemic has accelerated the migration of its business model to online, resulting in a positive impact on margins. In an update on the online operations of its Zaim-Express subsidiary, the Russian fintech group said the online element now represents the largest portion of the group’s business. The shift to a more flexible and scalable online operation represents the successful delivery and execution of the revised strategy, resulting in significant growth from a low online base at the time of the group’s flotation last year.

CentralNic Group PLC (LON:CNIC) said it has completed its acquisition of Zeropark and Voluum, collectively known as Codewise, two companies that provide services to domain name owners so that they can generate recurring income from the monetisation of traffic to their websites. The internet domain name specialist said the total consideration for the purchase is US$36mln and is expected to be more than 20% earnings accretive for the company, adding that the acquisition will enhance its monetisation business and also has the potential to generate revenue synergies through cross-selling with its other businesses.  In a separate announcement, the company said it will publish an interim report for its third quarter on November 30, as required under the terms of its senior secured bond listed on the Oslo Stock Exchange in Norway. The company confirmed that at this time it “continues to trade in line with market expectations” for the year ending December 31, 2020. In a third release, CentralNic added that it has issued additional consideration shares relating to the performance of KeyDrive SA, which it acquired in August 2018.

Eden Research PLC (LON:EDEN) is to partner with family-run farming business M H Poskitt to develop and trial a new bio-fungicide product designed to protect and improve the quality of vegetables. Poskitt’s farm in Yorkshire’s East Riding currently produces roughly 80,000 tonnes of crops per year serving UK retailers and a range of other customers. The AIM-listed biopesticides specialist said the partnership has been established to support a research & development project (R&D) that M H Poskitt has been engaged in, investigating the effect of mugwort plant extract on key plant diseases.

Silence Therapeutics PLC (LON:SLN) (NASDAQ:SLN) has announced that Marie Wikström Lindholm, previously VP Head of Technology Innovation, has been appointed senior vice president, Molecular Design and member of the Silence executive leadership team, with immediate effect.  The company, a leader in the discovery,  development and delivery of novel short interfering ribonucleic acid (siRNA) therapeutics for the treatment of diseases with significant unmet medical need, said Dr Lindholm will continue reporting to Silence’s Head of R&D and chief medical officer, Dr Giles Campion. It noted that Dr Lindholm joined Silence in December 2017 and has been responsible for building and leading a skilled team at Silence focusing on fine-tuning the design of Silence’s proprietary GalNAc-conjugated siRNA technology and exploring siRNA delivery outside the hepatocyte (liver cell).

ADES International Holding PLC (LON:ADES) told investors Monday that it has secured two contracts, one in the Kingdom of Saudi Arabia (KSA) and one in Egypt. In the KSA, the company has successfully extended a rig contract for three additional months to now run until the end of the first quarter of 2021. Earlier this year the same contract was extended by six months. In Egypt, it has a new two-year early production facility contract. It will establish an early production deck floor and topside facilities for the client, along with a jack-up barge charter.

Anglo Asian Mining PLC (LON:AAZ) has updated the mineral resources and reserves at the Gedabek open pit, Gadir underground mine and Ugur open pit mine in Western Azerbaijan. The group said Gedabek now contains resources of 735,000 ounces of gold and 69,100 tonnes of copper, including material in stockpiles, with a reserve of 284,000 ounces of gold and 26,000 tonnes of copper. Gadir now contains resources of 267,000 ounces of gold and 2,183 tonnes of copper, with a reserve of 49,000 ounces of gold and 191 tonnes of copper, it added,

San Leon Energy PLC (LON:SLE) said it has extended the deadline to complete its investment in the Oza oil field in Nigeria by three months. It comes as travel restrictions related to the coronavirus (COVID-19) pandemic have caused certain deal conditions to take longer than expected to finalise. A new deadline is now set as November 21, 2020. In early September the company unveiled its agreement to invest US$7.5mln investment into the Oza field via a loan agreement with Decklar, which is a subsidiary of Asian Mineral Resources (CVE:ASN).

Anglesey Mining PLC (LON:AYM) said it is “very encouraged” by continued strength in commodity prices over recent months and that it is now “actively reviewing” new exploration and development opportunities. In an update for the company’s general meeting on October 30, the company’s chairman John Kearney said the firm is taking “a very positive view on copper” and expects the current price to increase further in the medium term, which in turn should benefit the company as it considered deeper resources at its Parys mountain project in Wales, where copper trends tend to dominate over zinc.

Tiziana Life Sciences PLC (NASDAQ:TLSA, LON:TILS) has begun a clinical study of the nasally administered use of its monoclonal antibody, Foralumab, in the treatment of COVID-19 patients in Brazil. The trial will see the Tiziana drug administered either alone or in combination with dexamethasone, a corticosteroid medication. Clinical data are expected by the end of this year. The company said it is working closely with the collaboration partners, the Harvard Medical School and Santa Casa de Misericórdia de Santos Hospital in Santos, Brazil, to ensure the process is quickly “expedited”.

Trident Royalties PLC (LON:TRR)( FRA:5KV) said it received royalty payments amounting to just over US$480,000 in the third quarter of 2020. During the period the company announced three transactions over a total of six royalties. The royalty from Koolyanobbing amounted to A$652,073, taking the total received for 2020 to just over A$2mln. The total royalty revenue from Koolyanobbing over the first three quarters alone represents more than 30% of the royalty purchase price recovered. The company also received an inaugural payment from the Mimbula copper royalty.

Savannah Resources PLC (LON:SAV) said it has completed the sale of its stakes in the Block 4 and Block 5 copper projects in Oman to Force Commodities Ltd (ASX:4CE). Savannah will receive 50mln new fully paid ordinary shares issued by Force, giving Savannah a 4.9% stake in Force after four million shares are used to settle transaction costs. Savannah will receive preferential payment of A$3.5mln in cash from an existing loan out of cash flow generated from production on Block 5. And it will also get a 1% net smelter royalty on any future metal sales from Force’s portions of Block 4 and Block 5.

AEX Gold Inc. (LON:AEXG) (CVE:AEX), an independent gold company with a portfolio of gold licences in Greenland, has announced an operational update for the development of the Nalunaq property in South Greenland. The company said it continues to make good progress at the fully funded Nalunaq Project, with significant work having been completed on key work streams since the successful AIM Listing and fundraising in July 2020. The project remains on track, with workstreams progressing in line with management expectations, it added.

Stobart Group PLC (LON:STOB), the aviation and energy infrastructure group, has announced the appointment of David Blackwood as senior independent director (SID) with effect from November 1, 2020. Blackwood, who joined the Stobart board as a non-executive director on March 1, 2019, has extensive experience at senior levels of finance, audit and risk and has also acted as SID at Scapa Group and Dignity and is currently non-executive chairman of Connect Group. The Company announced on June 4, 2020, that it would resume the process to recruit two additional non-executive directors and address the appointment of SID. Further to that announcement, it said, Clive Condie was appointed with effect from July 1, 2020. However, as the coronavirus (COVID-19) pandemic has evolved in the last few months the board has decided to pause the recruitment of a second non-executive director. In a statement, David Shearer, Stobart Group’s non-executive chairman said: “I am delighted to announce the appointment of David Blackwood to the important role of Senior Independent Director. David has significant board-level experience and has made an invaluable contribution since his appointment.”

TomCo Energy plc (LON:TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, has announced the appointment of Robert Kirchner and Richard Horsman as non-executive directors of the company with immediate effect. The group also announced that Stephen West, its non-executive chairman, and Alexander Benger, a non-executive director, have both expressed their desire to step down from their roles, given the increasing time commitment required as TomCo seeks to move to the next stage of its development, in order to focus on their other business commitments and have therefore left the board with immediate effect. Following the resignation of West, the company has appointed Malcolm Groat, previously a non-executive director of the company, as its new non-executive chairman.

Sensyne Health PLC (LON:SENS), the UK Clinical AI company, announced that at its virtual Annual General Meeting (AGM) held on Friday all resolutions were duly passed. Commenting at the event, Sir Bruce Keogh, non-executive chairman of Sensyne Health, said: “Sensyne is in a strong position to apply its technology and expertise to help the life sciences and healthcare industries manage the short term challenges associated with coronavirus. Our software suite is being used to conduct clinical trials, monitor personal symptoms and disease progression and deliver remote patient care. In the long term, we are building a business that contributes to and directly connects into an increasingly digitised healthcare future. Most importantly we embody a better way to build technology companies – a way that recognises, respects and addresses the public, professional and institutional sensitivities related to ownership and privacy of highly personal healthcare data.” Full details of the votes received will be posted on the company’s website: www.sensynehealth.com

Alien Metals Limited (LON:UFO), a minerals exploration and development company, announced that, following the receipt of an exercise notice, it has issued 7,342,373 ordinary shares of no par value in the capital of the company at an issue price of 0.25p per share.

Synairgen PLC (LON:SNG), the respiratory drug discovery and development company, announced that it has conditionally raised total gross proceeds of approximately £7mln through the open offer to shareholders which was announced on October 15, 2020, representing the full amount proposed. Accordingly, the company has conditionally raised total gross proceeds of approximately £87mln (before expenses) in aggregate by way of the placing and the open offer.

Europa Metals PLC (LON:EUZ), the European focused lead-zinc and silver developer, has said it will hold its annual general meeting of shareholders at 10.00am UK time on Monday, November 30, 2020, by way of a virtual meeting facility.

Ferro-Alloy Resources Limited (LON:FAR), the vanadium mining and processing company with operations based in Southern Kazakhstan, has announced that at its annual general meeting held on October 30, 2020, all resolutions were duly passed.

ADM Energy PLC (LON:ADME) (FRA:P4JC), a natural resources investing company, has announced the launch of its new corporate website at: www.admenergyplc.com. The group said the website offers improved functionality and access to information on the company, including strategy, operations and all information required by AIM Rule 26.

Scirocco Energy PLC (LON:SCIR), the AIM investing Company targeting attractive production and development opportunities within the European energy market, has announced the launch of its new website: www.SciroccoEnergy.com. The company also said it will be presenting a corporate presentation webinar and Q&A session at 11.00am GMT today which can be accessed via the following link: https://webcasting.buchanan.uk.com/broadcast/5f8eb6b0c4d0076f2b9424e6. The playback of the webcast will be made available on the website following the event.

Base Resources Limited (LON:BSE) (ASX:BSE) has said the latest company presentation, which was made available for the TZMI Virtual Congress 2020 that opened today, is available from the company’s website: www.baseresources.com.au.

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