Kibo Energy PLC (LSE:KIBO, JSE:KBO) has seen its shares spark up after positive news from its Mast Energy Developments subsidiary, a specialist in flexible power plants.
Mast, 55% owned by Kibo, said its recently acquired 9MW Pyebridge generation facility had successfully completed installation commissioning checks, and it had concluded a power purchase agreement with StatKraft Markets GmbH.
It said commercialising Pyebridge was “a landmark next step towards the much larger portfolio of 300MW that Mast is aiming to establish in the UK.”
Kibo shares have jumped 12.2% to 0.23p although Mast is down 1.18%.
2.30pm: Aeorema Communications (AIM:AEO) shifts strategy from live events to virtual conferences and consultancy
What do you do if you are a live events company and then COVID-19 wipes out face to face meetings?
In the case of Aeorema Communications (AIM:AEO) the answer was to shift to providing virtual conferences and consultancy services, a move which seems to have paid off.
The company saw full year revenues slip from GBP5.47mln to GBP5.09mln but it cut its losses from GBP197,427 to GBP164,926, and returned to profit in the last three months of the year.
And looking forward it said first half revenues were expected to be greater than any previous interim period on record.
Chairman Mike Hale said: “We were one of the industries that was hardest hit [by the pandemic].
“Clearly, in a COVID-19 world, demand after March 2020 disappeared as event after event was cancelled…[Our executives] took the opportunity early on, in the void that had been created, to …reposition the company into providing virtual online conferences and events in place of our traditional activities of live events. We also made a strategic shift to providing consultancy services and engaging with clients at a higher advisory level on their communications strategies.
“As a consequence.. we are experiencing unprecedented demand for our bespoke services from a wide range of major blue chip clients spread across a diverse range of industries…
“The outlook for the first six months of the new financial year is very strong. We remain on track to report record revenues for the first half of 2022, greater than any prior interim period on record, and are confident of growth in revenues for the full year ending 30 June 2022.”
The company’s shares have climbed 5p or 11.91% to 47p on the news.
12.20pm: Card Factory (LSE:CARD) climbs as director buys shares
A bit of director share buying at Card Factory (LSE:CARD) has been greeted postively by investors.
The greetings card retailer is up 2.26% or 1.22p at 55.22p as non-executive Nathan (Tripp) Lane paid GBP107,000 for 200,000 shares, his first purchase in the business.
Analyst Nick Bubb said: “There has been an interesting Card Factory (LSE:CARD) announcement, flagging that a private equity executive called Nathan (Tripp) Lane, who has been a non-executive director since April 2020, has bought his first shares in the company, picking up 200,000 shares at an average price of 53.5p.”
10.46am: Eagle Eye boosted by deal for Asda’s rewards programme
Investors are eyeing up shares in Eagle Eye Solutions Group PLC (AIM:EYE).
The marketing technology company is working with Asda on the supermarket group’s new loyalty programme.
After a trial of Asda Rewards in September with the grocer’s staff, the programme has been extended to 16 Asda stores across West Yorkshire and the West Midlands.
Here’s the bumpf on the scheme according to Eagle Eye: “Customers using the Asda Rewards app can build up a cash pot each time they purchase a star product or complete an in-app mission when shopping in one of the 16 trial stores. Customers can also earn special rewards for purchasing selected products across a range of brands from Asda’s own label brands to Cadbury’s, Heinz, Pampers, Budweiser, Gillette and many more. Customers can redeem their cash by creating a voucher with the money they have saved in their cash pot and use this in-store.”
Eagle Eye’s AIR platform powers the scheme including the offer and reward management within the app, the membership card, star products, missions and cash pot as well as the creation and redemption of vouchers through its integration with Asda’s point-of-sale systems.
Tim Mason, chief executive of Eagle Eye, said: “We have been working closely with Asda since 2014 and have seen first-hand the digital journey that they are taking customers on. Loyalty programmes such as these help retailers improve their business through data-driven insights generating personalised offers which increase customer satisfaction and improve their marketing effectiveness.”
Eagle Eye is up 5.85% or 31.75p at 574.25p.
9.52am: Rambler rises after positive update on mine production
Rambler Metals and Mining PLC (AIM:RMM, TSX-V:RAB) has risen sharply after a positive production update.
It said saleable copper production from the Ming mine in Newfoundland and Labrador, Canada, had more than doubled from 197 tonnes in June to 521 tonnes in October, and its performance had been improving even before a recent refinancing.
Chief executive Toby Bradbury said: “The recently announced completion of the debt financing package was an important milestone for the company in delivering on its operational recovery plans.
“The company is pleased to provide this update in the context of the turn-around process at Ming mine, against a backdrop in recent months of constrained financial resources and dealing with COVID-19…The operational data presented here shows that, even before closing the financing, we have been steadily improving our operations.”
Rambler’s shares are up 12.87% or 4.38p to 38.38p.
8.56am: CloudCoCo jumps by nearly a quarter after contract win
CloudCoCo PLC (AIM:CLCO) has seen its shares go sky high after unveiled a major contract win.
The IT company is up 23.5% or 0.4p at 2.1p as it unveiled a three year contract worth a total GBP3mln with a new customer in the digital transformation services industry which services clients globally.
It is the largest managed services contract signed by the company since it was formed in April 2018 and involves providing a hosted cloud platform solution.
Chief executive Mark Halpin said: “It has been a busy few months from an M&A perspective, so I’m delighted to be able to follow that activity with a new business win of this magnitude. We look forward to working with our new customer to take their IT infrastructure to the next level.”
In August it paid GBP1.58mln for IT group Systems Assurance Limited.
Elsewhere Getech Group PLC (AIM:GTC) is up 3p or 10.35% to 32p as its H2 Green subsidiary signed a collaboration agreement with Shoreham Port.
The deal grants H2 Green exclusive rights for the development of all port-based hydrogen, ammonia, and new onshore wind and solar power generation capacity at the port in West Sussex.
H2 Green anticipates that development of the Hub will remove 45,000 tonnes of CO2 emissions each year from the Port’s fleet of trucks and HGVs and be a catalyst for the wider region’s transport decarbonisation.
Chief executive Jonathan Copus said: “This is an exciting time for Getech shareholders as more businesses, industries and councils look to develop innovative new green hydrogen hubs, which Getech can support in developing.
“Our project portfolio is rapidly evolving, and Getech’s activities are strongly aligned with the Government’s hydrogen strategy and green job creation initiatives.”