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Proactive news headlines: Haydale Graphene, Catenae Innovation, Ariana Resources, IronRidge Resources …

A glance at some of the day's highlights from the Proactive Investors newswire

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Your daily round-up from the world of Proactive

Haydale Graphene Industries PLC (LON:HAYD) has announced a new collaboration with IRPC to develop organic conducting-based printing smart fabric for medical use, including face masks, using Haydale’s technology. The AIM-listed firm said it has been developing a functionalised graphene-coated fabric during the coronavirus (COVID-19) pandemic, and tests carried out by the Thailand Textile Institute showed antibacterial finishes over 99.3% on the textile material after ten washes.

Catenae Innovation PLC (LON:CTEA) has said its breakthrough app that records a person’s coronavirus status is now ready for launch well ahead of schedule. It also revealed it is in discussions that could lead to “local and international sales opportunities”. The announcement followed some graphic design refinements to the Cov-ID digital passport system, which has raced through the development, prototyping and pilot launch phases to get to this stage in three months.

Ariana Resources PLC (LON:AAU) said that Özaltin Holding A.S., through its subsidiary, Özaltin Insaat, Ticaret and Sanayi A.S., has formally committed to proceeding with its acquisition of 53% of both the Salinbas Project and the Zenit Madencilik San. ve Tic. A.S. joint venture which is currently owned by Ariana in a 50:50 partnership with Proccea Construction Co. The AIM-listed exploration and development company operating in Europe announced on November 25, 2019, that it intends to partially dispose various interests held in Turkey to Özaltin, including jointly with Proccea, 53% of Zenit for US$50mln - to be split equally by Ariana and Proccea -, as well as an initial 17% of the Salinbas Project for US$mln. 

IronRidge Resources Limited (LON:IRR) said it has completed the acquisition of CAPRI Metals SARL, giving it full ownership of a “highly prospective gold exploration portfolio” in Côte d'Ivoire. The Africa-focused mineral explorer said the acquisition completes its purchase of the Vavoua portfolio, which comprises three licenses and grants IronRidge exclusive rights to a tenure package adjacent to the 2.15mln ounce Abujar deposit.

Eurasia Mining PLC (LON:EUA) said it is putting itself up for sale and has appointed UBS to run the formal sales process. The Russia-focused miner said in recent months it has received “a number of inbound expressions of interest from multiple parties” looking to acquire either all or a stake in its assets. However, the company said there could be “no certainty that an offer will be made” and that further announcements will be made in due course. In a separate announcement, the company reported its results for the year ended December 31, 2019, where it posted a pre-tax loss of £796,268, narrowed from a £3.24mln loss in the prior year while sales fell to £1.1mln from £2.6mln.

Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLSA), a US and UK biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology, has said that plans to effect the demerger of StemPrintER from the group are continuing to be progressed and it is now expected that a circular will now be sent to shareholders shortly after its annual general meeting to be held on July 16, 2020.

Oncimmune Holdings PLC (LON:ONC) said its Brazilian distributor has received the regulatory all-clear for its lung cancer detection technology, paving the way for sales of the device in the country. Marketing authorisation for the EarlyCDT Lung blood test is effective immediately, providing partner Valentech International commercial access to one of the world’s largest healthcare markets. Brazil has a high unmet need for a diagnostic that could help cut the mortality rate for the disease. Figures for 2018 showed 34,000 people were diagnosed with lung cancer and there were 32,000 deaths that year.

OptiBiotix Health PLC (LON:OPTI) has signed a distribution deal covering Australia, New Zealand, Indonesia, and Thailand for its cholesterol and blood pressure reducing dietary supplements, CholBiome and CholBiome X3. Leading this latest leg of the international expansion will be Actial Farmaceutica, an Italian business with operations in Asia focused on probiotics and gut health. Since launching its CholBiome products containing the company’s LP LDL formulation two years ago, the company has signed around 30 agreements in 50 countries.

Eden Research PLC (LON:EDEN) announced that it has moved office and opened up a new laboratory facility at Milton Park, a science cluster in Oxfordshire. The producer of sustainable biopesticides said the new facility will allow it to do more in-house, including formulation, microbiological screening, plant and seed evaluations and analytical work. It also features high-tech plant growth chambers, to undertake relatively rapid, small scale tests on different plant species.

Zanaga Iron Ore Company Ltd’s (LON:ZIOC) chairman has hailed “a rise in global investment into large scale iron ore projects”, which he said provides a strong investment case for the company’s project in the Republic of Congo (ROC). In a statement accompanying the company’s final results, Zanaga's non-executive chairman, Clifford Elphick also said iron ire prices had been resilient and premiums for “high quality iron ore products” had been maintained, further bolstering the company’s investment case.

Benchmark Holdings PLC (LON:BMK) has secured the sale of its subsidiary FishVet, a provider of veterinary and diagnostic services, for between £14.4mln-£14.7mln in cash. The aquaculture genetics, health and nutrition firm said it has sold FishVet to Pharmaq, part of Zoetis Inc (NYSE:ZTS), the world’s largest producer of medicine and vaccinations for pets and livestock.

H&T GROUP PLC (LON:HAT) has announced the appointment of Chris Gillespie as an executive director. Gillespie will join the company in September having previously been managing director for the consumer credit division of Provident Financial PLC since August 2017. Prior to that he held senior positions with Madison CF UK Ltd (118118 Money), Amigo Loans Ltd and Albemarle & Bond Holdings PLC.

Chesnara PLC (LON:CSN) has announced the appointment of Eamonn Flanagan as independent non-executive director with immediate effect. It noted that Flanagan has extensive operational experience in financial services in roles with Royal Insurance and Charterhouse/ING Barings and also brings executive and markets experience from Shore Capital Markets where he was a director and co-founder. The group also announced that David Brand will step down from its board with immediate effect as, after securing regulatory approval, he takes up the role as chairman of the company's UK business Countrywide Assured PLC. Chesnara chairman Luke Savage commented: “David, with his wealth of experience and knowledge of the Group, will be sorely missed at the Chesnara plc Board table, but I am very pleased that he will Chair our UK business whilst also continuing to Chair our Swedish business Movestic Livförsäkring AB. I am also delighted to announce the appointment, of Eamonn who will bring valuable experience, insight and skills which will be of significant benefit to the Group.'

Inspired Energy PLC (LON:INSE), the leading consultant for energy procurement, utility cost optimisation and legislative compliance in the UK and Ireland, has announced the appointment of Sarah Flannigan, as an independent non-executive director with effect from July 28, 2020. It noted that she is a technology strategy consultant, who brings a wealth of industry experience having more recently held the position of CIO at EDF Energy where her responsibilities included defining and delivery of a new technology transformation strategy.. Commenting on the appointment, Inspired Energy’s non-executive chairman, Mike Fletcher said "We are delighted to welcome Sarah to the Inspired Energy Board.  Her significant experience in the energy sector and technology transformation will be valuable to the Board at a time when we are looking to revolutionise our sector with a full digitisation programme for our valued customers."

Curzon Energy PLC (LON:CZN) said negotiations over a potential reverse takeover by Sun Seven Stars Investment Group (SSSIG) are continuing. The oil and gas firm said a period of exclusivity between itself and SSSIG has been extended from its original end date of June 30, 2020, although formal terms covering the extension of the exclusivity period and the nature of additional financial support to be provided by SSSIG to the company have yet to be finalised. Curzon said the coronavirus pandemic and lockdowns in the UK and US had caused delays and disruptions to the overall due diligence process, however, both parties remained “positive” regarding a potential transaction.

Tally has started a funding round ahead of a planned return to the public markets next year, having launched a rebuilt physical gold-backed banking platform last month. The fintech group, which offers services via a physical debit card and a banking app, said it is looking to raise up to £3mln for marketing and ongoing technology development, incorporating a crowdfunding campaign. But having restructured its tech development team in March and redesigned and built the platform from scratch in April and May, this has pushed back the start of the pre-IPO funding round and it is now expected it will be completed by the end of September.

Canadian Overseas Petroleum Limited (LON:COPL) has announced that its interim chief financial officer Ryan Gaffney, who took over the role on June 6, will become permanent on July 2. "Ryan has a background in investment banking where he spent 13 years with Canaccord in their London and Toronto offices. He will be a great addition to the company's management team as the company moves forward with its business plan”, COPL president and chief executive Arthur Millholland said in a statement. The group also said it expects around 438.5mln placing shares to be admitted to the standard segment of the LSE’s main market on Thursday following completion of a £1.2mln financing that the company said will cover its working capital costs and allow it to continue focusing on its OPL 226 project in Nigeria.

Mineral and Financial Investments Limited (LON:MAFL) said it has agreed on a resolution to the earn-in option agreement at Lagoa Salgada with Ascendant Resources.  M&FI, through a Swiss subsidiary, currently owns 75% of Redcorp Empreedimentos Mineiros, whose main asset is the 23Mt Lagoa Salgada polymetallic project in Portugal. The option currently is that Ascendant must fulfil its work obligations, totalling US$9.0mln, and pay M&FI US$2.5mln over the next 2 years to reach 50% ownership.

Aminex PLC (LON:AEX) said the longstop completion date for its Ruvuma farm-out agreement has been extended to July 14, 2020. The junior said partner ARA Petroleum and itself continue to work closely with the Tanzania authorities to obtain government approval and complete the farm-out as soon as possible. ARA has agreed not to demand repayment of a US$2mln loan that falls due on July 1, 2020, or to charge interest on a US$3mln funding arrangement, Aminex added.

Enteq Upstream PLC (LON:NTQ), an oil drill technology specialist, increased revenues by 7% in the year to March 31, 2020, despite the industry's problems in the US shale area. Sales in the twelve months year rose to US$10.9mln (2019: US$10.2mln) with underlying profits 24% higher at US$3.1mln. Growth outside of the US, especially in China and Saudi Arabia, helped offset the weak US market, said the company, with non-US revenue now accounting for 30% of the total.

Tower Resources PLC (LON:TRP), the AIM-listed oil and gas company with its focus on Africa has announced a further extension of its loan facility of US$750,000 with Pegasus Petroleum Ltd. The group said the facility will now be due for repayment on or before August 15, 2020, and the terms of the extension include the issue of 4.5mln of five-year warrants with a strike price of 0.35p, a premium of 11.1% to the closing share price on June 30, 2020. Tower noted that the reason for the extension is the delay to the completion of the farm-out to OilLR, revealed on Tuesday.

AFC Energy PLC (LON:AFC) has received a significant show of shareholder support for its hydrogen-based fuel cell technology after a funding round that raised £31.6mln was heavily oversubscribed, it said. Of the proceeds, £30mln came from a placing, £1.5mln from a retail offer through the PrimaryBid platform, and £100,000 from a subscription. All the share sales were priced at 16p a share. AFC said the money would give it the capacity and flexibility to ramp up the manufacture of its H-Power fuel cell systems to meet expected demand over the next two years.

Pembridge Resources PLC (LON:PERE) has revealed that the amendment to the shareholders agreement to restructure interests between the investors in Minto Explorations Ltd. has now been finalised and executed.  The group said the final agreement, signed on June 30, 2020, remains as described on April 6, 2020, and provides Minto with US$3mln of cash investment to support its current cash requirements. This also assists Pembridge's liquidity in the current unprecedented market conditions by relieving the company of significant future financial obligations amounting to US$6.4mln and up to US$22.1mln. As a result of the new investment into Minto by the other shareholders, Pembridge's economic interest in Minto will be reduced to 11% from 33%.

G3 Exploration Limited (LON:G3E), announced that, further to its update on June 15, 2020, the Grand Court of the Cayman Islands has confirmed that the four-month extension of the provisional liquidation (granted on 12 June 2020) constitutes the final adjournment of the winding-up petition hearing. The group said that any further hearing on this matter could be re-listed for the first available hearing date from October 12, 2020, onwards. In addition, following a hearing for further directions held on June 23, 2020, G3 continued, the Court has directed, inter alia, that the joint provisional liquidators (JPLs) are to be fully involved in and lead the refinancing of the company's debt; and that the JPLs are to provide written updates to the bondholders and the directors of relevant subsidiaries of the company fortnightly with respect to any material development with respect to the progress of the refinancing. It added that the JPLs and the company intend to utilise the four-month period to pursue the proposed refinancing, and will concurrently continue to assist the receivers in respect of the asset sale process.  

Mosman Oil and Gas Limited (LON:MSMN) the oil exploration, development and production company, advises that it has today executed an agreement with Blackstone to resolve all outstanding matters between the two parties. In accordance with the settlement agreement, Blackstone has paid Mosman an amount of USD 107,500 (AUD C 155,000) John W Barr, Chairman, said: "Mosman is pleased to resolve this matter. The business plan continues to be increasing production with a focus on operations in East Texas."

ECSC Group PLC (LON:ECSC), a leading provider of cyber security services, including Artificial Intelligence-based managed services, said it has been informed that Ian Mann, the group's chief executive officer, bought a total of 29,827 ordinary shares in the company on Wednesday, July 1, with 15,025 purchased at a price of 66.5p each and 14,802 purchased at a price of 67.5p each. It said that following this, Mann now holds a total beneficial interest in 2,278,517 ordinary shares, equivalent to approximately 22.77% of the company's issued share capital.

Redx Pharma PLC (LON:REDX), the drug discovery and development Group focused on cancer and fibrosis, said it has been notified that Iain Ross, the group's non-executive chairman, on Tuesday, June 30 acquired 215,870 ordinary shares in the company at the following prices: 86,881 at 17.25p each; 53,989 at 18.50p each; 35,000 at 19.75p each; and 40,000 at 22.50p each. Following these purchases, Ross will hold 215,870 ordinary shares in the company, representing 0.11% of the issued share capital. The company also announced that non-executive director, Peter Presland acquired 118,849 Redx ordinary shares at a price of 25p each also on Tuesday, June 30. Presland purchased the shares through his self-invested personal pension (SIPP), and following this he will hold 118,849 ordinary shares in the company, representing 0.06% of the issued share capital.

Asiamet PLC (LON:ARS) said that at its annual general meeting held on Tuesday all resolutions proposed to shareholders in the Notice of Meeting as announced on May 28, 2020, were duly passed. It noted that a presentation and Q&A recording with Asiamet's executive chairman, Tony Manini will be made available to shareholders and will be posted to the company website this week.

Bezant Resources PLC (LON:BZT), the AIM-quoted mineral exploration and development company, announced that, as a result of the impact of coronavirus (COVID-19) pandemic in the countries where the company operates, it has applied for and been granted to delay the publication of its audited accounts for the year ended December 31, 2019, by three months that is by September 30 2020. The company has agreed an audit completion timetable with its auditors which will enable it to meet this extended deadline. Bezant also said it will call a procedural annual general meeting to be held on or around Monday, August 4, 2020, at which shareholders will not be permitted to attend in person, and it is currently intended that the AGM will be held with only the appointed chair of the meeting and two other nominated shareholders.

Instem PLC (LON:INS) announced that a general meeting will be held at 2 Diamond Way, Stone Business Park, Stone, Staffordshire, ST15 0SD at 11am on July 16, 2020. In light of the coronavirus (COVID-19) pandemic, shareholders and their proxies will not be allowed to attend the meeting in person, as to do so would be inconsistent with current government guidelines, and the business will be restricted to the purposes set out in the formal notice of general meeting. There will be no additional presentations or opportunities for the board of directors to answer questions, it added.

Feedback PLC (LON:FDBK), the specialist medical imaging technology company, which announced on June 15, 2020, that it had conditionally raised £5.05mln through a placing and open offer at an issue price of 1p per share, said that valid applications were received in respect of, in aggregate, 21,981,769 open offer Shares, raising gross proceeds of £219,817.69. Therefore, the total amount raised under the placing and open offer was approximately £5.27mln. Feedback also announced that, at its general meeting held on Wednesday to approve the fundraising, all resolutions were duly passed.

i3 Energy PLC (LON:i3E), an independent oil and gas company with assets and operations in the UK, noted that at its annual general meeting (AGM) held on June 30, 2020, all resolutions were duly passed. It added that shareholder questions that were submitted to the Board in advance of the AGM care of Camarco have been answered and posted to i3's website at: https://i3.energy/investor-relations/shareholder-faqs/

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