The terms of the 2021 are much the same as the 2018 loan notes that are due for redemption, save that the interest rate has increased to 12% from 10%.
The Prospex board believes the high uptake of rollover reflects the progress made across its European gas and power portfolio.
2.25pm: i3 Energy brings new gas well on stream
i3 Energy PLC (LON:I3E) rose by 13% to 10.65p after it announced it has brought the A-52-G horizontal gas well located on the Noel acreage in Northeast British Columbia on-stream.
Following completion of construction and tie-in operations, production from the well has averaged 650 barrels of oil equivalent per day since start-up on a quarter-inch downhole choke, exceeding initial expectations by 30%.
Reserves additions associated with this location will be booked in i3’s 2021 year-end reserves update, and the company is currently evaluating potential offsetting development locations.
1.30pm: Nanoco declines as it calls for delay to patent trial
The group filed a patent infringement lawsuit against various Samsung entities in the US in April. It has asked for the court trial to be delayed until after the inter pares reviews called for by The Patent Trial and Appeal Board (PTAB) have been published.
By going to trial after the inter pares reviews, Nanoco will be able to bring to court those claims already confirmed as valid by the PTAB, Nanoco said.
12.35pm: Origo’s writes down the value of its Celadon investment
The company’s net asset value at the end of 2020 was US$2.3mln, down from US$$3.6mln a year earlier.
The primary reasons for the decline in net asset value are a write-down of the company’s investment in Celadon Mining and the company’s running costs.
11.40am: Burberry boss to get his coat
He is to leave the fashion designer at the end of 2021 to join competitor Salvatore Ferragamo.
He will hold the role of general manager and chief executive at the Milan-listed luxury group.
10.45am: Bion hit by Malaysian COVID restrictions
Bion PLC (LON:BION) fell out of bed with a bump on Monday morning, with the shares plummeting 52% to 1.5p after a gloomy trading update.
The Malaysian environmental engineering and renewable energy company has seen its business hit hard by the lockdown restrictions introduced to limit the spread of COVID-19 in Malaysia.
Just how badly hit is not yet accurately known as the company’s auditors have been unable to enter the firm’s premises to access and work on the accounts.
10.00am: Guild Esports celebrates Fortnite win
The company said it won its third major trophy after its pro-player, Tai Starcic (TaySon), achieved first place in the Fortnite Champion Series (FNCS) All-Star Showdown on June 26.
The company, which fields professional players in video game competitions under the Guild banner, said the prize money amounted to US$150,000.
9.05am: Cambridge Cognition bags another at-home cognitive testing contract
The company, which develops and markets digital solutions to assess brain health, has been selected as the cognitive assessment partner for a large at-home study.
Cambridge said this is the second, large, at-home cognitive testing contract the company has secured in two months. The previous one was announced in April and had a value of GBP500,000.
Management said underlying earnings for the year to the end of June are going to be better than management had anticipated, which bodes well for the size of the final dividend.
The group said its locksmith division has benefited from the increased need for manned guarding services for empty premises and its PROception service, which integrates the provision of front of house services with security services for individual buildings or larger complexes.