The newly issued shares represent around 14% of Forterra’s issued share capital prior to the issue of the new shares.
The bricks maker said revenue in the first five months of this year was 39% lower than in the corresponding period of 2019, with April’ revenues down 86% year-on-year and May’s down 62%.
Daily dispatches of brick and block products recovered to about 65% of corresponding 2019 levels in June, with run-rates improving through the month. The group is currently manufacturing at 14 of its 18 facilities.
2.00pm: Reabold dips after Romanian update
Mud filtrate build-up around the well bore has potentially occurred, Reabold revealed. Following further diagnostic work, acidisation of the well may be implemented to enhance flow, it added.
The testing will continue over the coming weeks including down hole pressure measurement, fluid sampling and future stimulation or further testing programmes.
12.50pm: Mosman tumbles as it places shares at a discount
Mosman Oil and Gas Limited (LON:MSNMN) shares were trading 39% lower at 0.085p after the company placed shares at 0.08p.
The company has raised GBP400,000 from the placing with potentially more to come as the new shares each came attached with a warrant to subscribe for one new share at 0.15p.
The net proceeds raised from the Placing will be used towards the drilling of the Falcon well at the Champion Project in Texas.
11.40am: DS Smith dives as divi is deferred again
In its results statement covering the full-year to April 30, 2020, the group said it is expecting lower volumes to industrial customers and additional operating costs as a result of the fall-out from the pandemic.
The FTSE 100-listed company posted full-year revenues of GBP6.04bn, down from GBP6.17bn the year before, with the pandemic lopping an estimated GBP15mln off revenues in the final two months of the financial year. Reported profit before tax eased to GBP437mln from GBP455mln the previous year, while adjusted profit before tax rose to GBP368mln from GBP350mln.
10.50am: Catenae Innovation surges as substantial stakeholders top up again
Having revealed yesterday that they had a 5.45% stake in Catenae, the couple have lifted that stake to 6.9%.
Yesterday, Catenae said its Cov-ID app is now market ready, well ahead of schedule.
10.00am: Verditek shares off to a bright start after a slew of new orders
The AIM-listed cleantech company has successfully secured its first order for the marine market, selling panels in Thailand to be used on yachts.
In the UK, Verditek has secured its first order in the agricultural sector, with Verditek solar panels to be installed on the roofs of barns in the near future while in Pakistan it has won another order in the oil & gas sector.
Omega said its CE-marked Mologic ELISA1 antibody test has been approved for testing of the coronavirus (COVID-19) in India.
Approval for sale in India remains conditional on the submission of supporting technical data and the company is confident that this submission will be successful.
Proactive news headlines:
NQ Minerals PLC (LON:NQMI) (OTCQB:NQMLF) (OTCQB:NQMIY) said last month’s plant upgrade at the Hellyer Gold Mine in Tasmania has resulted in a 44% increase in production. The enhancements, done six months ahead of expectation, have resulted in hourly production of 150 tonnes, which equates to an annualised rate of 1.3mln tonnes. As chairman David Lenigas pointed out, the changes should boost the company’s finances.
IronRidge Resources Limited (LON:IRR) said it has defined a drill-ready target at the Zaranou gold license in Cote d’Ivoire from recently secured historical data, while the company has also enlarged a second phase drilling programme over the Ehuasso and Ebilassokro targets. The AIM-listed company said the historical data had confirmed the new target, called Yakasse, as a “significant soil anomaly” that warranted follow-up drilling which is planned to begin either on completion of the current drill programme or after the wet season.
Primary Health Properties PLC (LON:PHP), one of the UK’s leading investors in modern primary healthcare facilities, has announced that, further to its announcement of May 11, 2020, regarding of the acquisition of a portfolio of medical centres, it has today completed on the acquisition of the last of the conditional purchases referred to in that announcement, for a price of GBP3.6mln. This completes the purchase of the entire portfolio of 22 properties, it added.
Pan African Resources plc (LON:PAF) advised shareholders that it has established a sponsored Level -1 ADR programme today on the over-the-counter market in the United States (US) with the Bank of New York Mellon (BNY Mellon) being the appointed Depository. Each depository receipt in the ADR programme represents twenty (20) ordinary shares in Pan African Resources and trades under the symbol ‘PAFRY’. Pan African Resources CEO Cobus Loots commented: “Pan African has a strong shareholder base in South Africa and in the United Kingdom. By establishing the ADR programme, the Company will make investing in its shares even more accessible to international investors, particularly the US investor market. Furthermore, Pan African joins a number of its peers which have successfully implemented an ADR programme.”
Oracle Power PLC (LON:ORCP) said it has received notices of exercise in respect of certain pre-existing warrants to subscribe for, in aggregate, 2,000,000 new ordinary shares of 0.1p each in the capital of the company at a price of 0.25p per share. It said the exercise of these warrants amounts to an aggregate cash subscription of GBP5,000.
Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) has received a major boost to its finances with a A$10 million strategic investment from Equatorial Resources Ltd (ASX:EQX) as part of a A$15 million placement of convertible notes to corporate and institutional investors. Equatorial has subscribed for A$10 million of unsecured convertible notes in the company following a detailed review by Equatorial focused on investigating opportunities related to Salt Lake’s current financing requirements and operational progress. Salt Lake Potash is in the final stages of completing a significant project financing that will support the development of its Lake Way Sulphate of Potash (SOP) Project in the Goldfields region of Western Australia.
Block Energy PLC (LON:BLOE), the exploration and production company focused on Georgia, has announced that, on July 1, 2020, it issued to directors/PDMRs, employees and a consultant nil-cost options over a total of 1,059,839 ordinary shares of 0.25p each. The options were issued in lieu of payment of cash for 40% of salaries, directors’ fees and consultancy fees for the month of June 2020, in accordance the cash conservation announced on April 7, 2020.
Gore Street Energy Storage Fund PLC (LON:GSF), London’s first listed energy storage fund supporting the transition to low carbon power, has announced an extension to the expected timetable announced on June 19. The company said it has been encouraged by the strong interest received from a wide range of investors to participate in the current fundraising, and in order to facilitate orders from some significant additional investors, the latest time for receipt of placing commitments has been extended by two business days to 3.00pm on Monday July 6, 2020. The new ordinary shares will still be eligible for the dividend announced on June 19, 2020, in respect of the period from January 1 to March 31, 2020. It added that the timetable for retail investors to participate via the PrimaryBid platform remains open until 3.00pm today.
Stobart Group Limited (LON:STOB) has confirmed its annual general meeting (AGM) will take place at 11.00am on Thursday, July 30, 2020, at the company’s London office: 15 Stratford Place, London W1C 1BE. Due to coronavirus (COVID-19), the AGM will be functional and shareholders will not be able to attend in person but can attend electronically, details for which are set out in the Notice of AGM. Shareholders are encouraged to exercise their right to vote and, accordingly, it is strongly recommended that shareholders vote by way of proxy, the group said.
Hardman & Co Research has issued a research note on Advanced Oncotherapy PLC (LON:AVO) entitled ‘End-goal fast approaching’. It says: “A recent equity issue, new loan facilities and some commercial announcements earlier in 2020 highlight the increasing confidence that is building in AVO’s ability to achieve its goal to deliver LIGHT in the near future.” The full report can be seen via the following link: https://www.hardmanandco.com/research/corporate-research/funded-through-to-clinical-events/