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WH Ireland claws back some recent losses as shareholders OK fund-raising

Last updated: 11:19 21 Mar 2019 EDT, First published: 05:28 21 Mar 2019 EDT

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Shareholders at stockbroking and wealth management firm Whi Ireland Group PLC (LON:WHI) have green-lighted the firm’s plans to raise £4.95mln.

The shares rose 3.5p to 37.5p after the company announced all resolutions had been passed at today’s meeting.

The shares have been placed at 45p a pop.

1.45pm: Cadence rising after associate company signs big off-take deal

Cadence Minerals Plc (LON:KDNC) was the top riser in London on Thursday after some good news from associate company Macarthur Minerals.

Macarthur has entered into a binding life-of-mine off-take agreement with Glencore International for the sale of iron ore to be produced from the Lake Giles iron project in the Yilgarn region of Western Australia.

Cadence, which has a 10% stake in Macarthur, shot up 164% to 0.29p on the news.

 

12.45pm: FW Thorpe issues gloomy interims

Professional lighting systems company FW Thorpe PLC (LON:TFW) issued a gloomy half-year trading statement that sent the shares 6% lower.

Profit before tax in the six months to the end of December 2018 rose to £8.78mln from £7.88mln the year before, after a slow start to the fiscal year for the group's Thorlux division – the main part of its business - and a £1.9mln boost to profits from the sale of its Thorlux property in Portsmouth.

The group's overall UK revenue was down by £4.0mln at the half-year point, mainly due to the performance of Thorlux.

“Whilst our improved order book gives us confidence that we will have a strong finish to the year, underlying operating profit is still expected to be below the record operating figures of the last financial year,” said Mike Allcock, the chairman of FW Thorpe.

11.45am: IG Group - a bit of trading volatility it won't be pleased about

As a general rule, spread betting firms like a lot of volatility so on one level IG Group Holdings PLC (LON:IGG) should be happy.

The shares shed 7.4% after the company's fiscal third-quarter revenue update.

READ Stricter regulations dent IG Group’s trading revenues once again

Year-to-date, net trading revenue is 15% down year-on-year to £359.0mln, the group warned, as new regulations start to bite.

11.00am: LPA set for happy AGM as project delays start to unwind

Today’s annual general meeting (AGM) of shareholders in LPA Group PLC (LON:LPA) is set to be a happy affair.

The specialist in electronic and electro-mechanical components systems and equipment for the rail aerospace, defence, telecom, and industrial markets said in a statement released ahead of the AGM that order intake in the first five months of the fiscal year was at record levels.

The shares, which had been under a cloud since the company said in January that the current year had got off to a quiet start with delays to some major rail projects, surged 7.3% to 111p.

10.15am: Integrated Diagnostics' record revenues driven by improved pricing and test mix as well

Consumer healthcare company Integrated Diagnostics Holdings PLC (LON:IDHC) was in rude health on Thursday morning after posting strong organic growth in 2018.

The shares were up 6.5% at 4.5p after the company trumpeted record revenues of 1.921mln Egyptian pounds, up from 1.51mln EGP in 2017/

The health-tests specialist’s profit before tax climbed to 717,358 EGP from 558,430 EGP the year before.

9.30am: Wynnstay issues a profit warning

Wynnstay Group PLC (LON:WYNN), the agricultural supplies group, had some rotten news for shareholders this morning.

Market conditions in the second quarter of the company’s fiscal year have significantly weakened and trading is now behind seasonal norms, the company revealed.

As a consequence, results for the first six months of the financial year are therefore expected to be substantially behind those of last year and management has basically said that it would be prudent to anticipate that the full year out-turn will be “substantially below current market expectations”.

The shares lost just over a fifth of their value, as did the shares of Clear Leisure PLC (LON:CLP), the Italy-focused investment company, after a business update, much of which seemed to focus on the company’s legal battles.

Outside of the courts, it looks like the cryptocurrency bubble might have burst, with the group’s jointly owned mining data centre in Serbia being put on care and maintenance.

Proactive news headlines:

ValiRx Plc’s (LON:VAL) boss has said she is “delighted” with the progress being made by two of the junior biotech’s drugs – cancer therapeutic VAL201 and VAL301, a treatment for endometriosis.

LoopUp Group PLC’s (LON:LOOP) shares were performing loop-the-loops in early deals after the company revealed all of its core business metrics remain strong

Kibo Energy PLC (LON:KIBO) shares were boosted in early deals on Thursday after it completed a definitive feasibility study (DFS) at its Benga power plant in Mozambique ahead of schedule.

Sound Energy PLC (LON:SOU) told investors it is financially well positioned for the remainder of 2019, as it reported results for last year. The explorer said that it ended December with £20.5mln of cash.

Sativa Investments PLC (LON:SATI) has completed its 1000th test of cannabinoid and terpenes at its on-site PhytoVista testing laboratory.

Cello Health PLC (LON:CLL) has begun 2019 with good levels of forward bookings and has already landed a good number of new business wins.

A feasibility study for its Toliara project in Madagascar has confirmed it is a world-class project, said minerals sands miner Base Resources Limited (LON:BSE). The net present value of Toliara was estimated at US$671mln in the study, which was better than expected said Peel Hunt.

Aminex PLC (LON:AEX) has updated investors on the ongoing efforts to close the proposed farm-out for the Ruvuma asset, in Tanzania. The company, in a statement, highlighted that the completion is conditional upon the receipt of certain approvals – including joint venture partner approvals, and, regulatory approvals from Tanzania government departments.

Scotgold Resources Ltd (LON:SGX) is on track for first gold production for the Cononish mine in the Trossachs by the end of this year, according to its latest interim report. Losses in the six months to December were US$1.98mln but Scotgold had cash of US$7.16mln, which will take it through to the start of production.

Jubilee Metals Group PLC (LON:JLP) said on Wednesday that its recent acquisition, PlatCro Minerals is contributing to earnings ahead of schedule.

PCG Entertainment Plc (LON:PCGE) has noted recent speculation regarding the possible acquisition of VOX Markets Ltd and Align Research Ltd. The company can confirm that it is advanced discussions with both Align and VOX, and that if the transactions were to proceed, they would constitute a reverse takeover under AIM rules and, as a result, its shares were suspended with effect from 7.30 am today.

Scancell Holdings PLC (LON:SCLP) has announced that its chief scientific officer, Professor Lindy Durrant is to receive the Swedish Society of Oncology's Waldenström award at the Swedish Society of Oncology Annual Meeting on Thursday 21 March 2019 at 13:30 CET in Stockholm. The group said he will give an honorary lecture to fellow society members the theme of which will be on novel approaches to cancer vaccinations, including references to both ImmunoBody and Moditope, Scancell's novel immunotherapies for the treatment of cancer.

Chaarat Gold Holdings Limited (LON:CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, has announced the appointment of Warren Gilman as a non-executive director with immediate effect. The group noted that Gilman founded Queen's Road Central Capital Ltd, where he is chairman and CEO, in 2019 and previously was chairman and CEO of CEF Holdings Ltd, a mining-focused investment company.

Chaarat also announced it has concluded that major shareholder Labro Investments Limited, and its board members Martin Wiwen-Nilsson and Willem De Geer shall no longer be considered to be acting in concert.

The Marketing Group PLC (NASDAQ OMX:TMG), which trades as RYVL, said it has resolved to terminate agreements with Mangold Fondkommission AB regarding its services as certified adviser and liquidity provider to the company, the notice period of both being for six months. The company said it has initiated the process of appointing a new certified adviser, and added that it currently foresees no need for a liquidity provider.

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