The armed forces contractor has been sliding after the British government ordered a probe into the proposed GBP2.6bn deal.
Ultra was told it would be prevented from passing on details of the “goods or services it provides to HM Government or HM Armed Forces”, while the Competition and Markets Authority (CMA) examined the deal.
2.10pm: Symphony Environmental Technologies higher after Canada’s approval of bread packaging coating
Symphony Environmental Technologies PLC (AIM:SYM, FRA:XP7) rose 6% to 28.05p in the early afternoon after Health Canada approved its d2p antimicrobial food contact technology for use in bread packaging.
Recently, the innovation received sign-off from America’s regulatory body, the Food & Drug Administration.
Canada gave the official thumbs-up for it to be used in polyolefin and polyester multi-layer films used for wrapping.
12.30pm: TP Group slips after Science Group withdraws takeover offer
Science Group, which dipped 1% to 426.16p, said it was because “TP Group have been unwilling to provide access to due diligence information unless certain conditions were agreed which are unacceptable to Science Group”.
“TP Group have declined to even define the content and extent of such due diligence information if it were to be provided, nor have they responded to other pre-conditions within the Science Group indicative offer,” the engineer said.
Last month, TP Group said that both takeover offers received at the time were undervaluing the business.
As of Friday, Science Group holds 24.1% of TP Group and said it will keep it as a “strategic investment” while adopting “an active engagement strategy in relation to its investment”.
11.25am: Armadale Capital climbs after receiving mining licence in Tanzania
The AIM-listed investor now has exclusive development and mining rights over the graphite resources, which it said is a major de-risking milestone for shareholders.
“Receipt of the 10-year Mining Licence for the Mahenge Liandu graphite project is one of the final and most important de-risking milestones for the Company and allows us to push forward towards construction of our planned initial Stage 1 60,000 tonne per annum capacity for the project,” said chairman Nick Johansen.
10.10am: Alba Mineral Resources edges higher on spin-out flotation details
The miner spun out GreenRoc earlier this summer.
The newly formed entity expects to raise GBP5mln in its IPO, for a market capitalisation of GBP11mln. Admission will be in mid-September.
The board has recommended a final dividend of 12.1p, taking the total payout for the year to 16.9p, unchanged from the year before.
Shares have been volatile recently due to weakness in the emerging markets, which the investor focuses on.
8.45am: Falcon Oil & Gas surges after positive test results at Beetaloo well
Falcon Oil & Gas Ltd (AIM:FOG, TSX-V:FO). surged 15% to 5.625p after sharing the results of the production log test at the Amungee NW-1H well, in the Beetaloo Sub-basin, Northern Territory, Australia.
The results suggest a normalised gas flow rate equivalent of between 5.2-5.8mln standard cubic feet per day per 1,000 metres of horizontal section.
“A recent report by an industry analyst suggests that gas flows greater than 3mln standard cubic feet per day from a 1,000-metre horizontal well are required to demonstrate the commerciality of the Beetaloo,” said chief executive Philip O’Quigley.
“Not only does this test result significantly exceed these parameters and significantly increase our assessment of the Velkerri dry gas play, but it also puts the Beetaloo on a par with other shale gas basins in North America.”
Elsewhere, discoverIE Group PLC was up by a tenth to 1,128p after splashing out GBP77mln on acquisitions in the US and UK to strengthen and broaden its presence in the customised electronic components sector.
It will help fund the deals through a GBP55mln placing at 1,028p that closed last night.
Originally, the firm intended to raise GBP45mln but such was the demand from investors it increased the size of the offer.