Economic and Market News for 2 September 2019

Hurricane Energy said output levels from its Lancaster early production system in the UK were above its expectations. The company said it had achieve an average production rate of around 14,400...

Europa Metals said it had completed the drilling of a new test hole at the Toral-lead-zinc-silver project in northern Spain. An entire core sampled from the 'daughter hole' had been sent for...

Computer vision technology company Seeing Machines said it had been selected by an equipment supplier to provide its driver monitoring platform to an existing European client. The technology would...

Passenger transport market software provider 21st Century Technology said it had won a contract for East Sussex County Council. The agreement, for the supply, installation and support of real-time...

Finland-focused Karelian Diamonds said it had received a request for an extraordinary general meeting from several investors attempting to roll its board, just weeks after their previous attempt...

Botswana Diamonds said it had identified what it believed to be kimberlite pipes, buried at shallow depth, at its Thorny River project in South Africa. The targets, identified by geophysical work,...

Gold miner Altyn booked a first-half loss after equipment breakdowns hurt production volumes. Pre-tax losses for the six months through June amounted to $603k, compared to a profit of $603k...

Water treatment and filtration company Amiad Water Systems said it was in talks about a potential share placing to current shareholder FIMI Opportunity Funds. 'The discussions have not yet...

Edenville Energy, which is developing the Rukwa coal project in Tanzania, said it had made a second cash payment under a funding agreement with Lind Partners. The $51k payment was made on Friday...

President Energy said it did not expect the introduction of currency controls in Argentina to have any adverse material effect on its business. The government on Sunday revealed controls aimed at...

Metal Tiger said it had agreed to acquire shares in Western Australia-focused miner Cobre for around A$0.5m. The purchases would representing about 15% of Cobre's enlarged issued share capital....

Packaging company Smurfit Kappa said it would offer €500m of euro-denominated senior notes due in 2027. The funds would be used, along with cash holdings, to redeem in full senior floating-rate...

Economic infrastructure debt investor Sequoia Economic Infrastructure Income Fund said it planned to launch a share issue, to cut debt and increase headroom for acquisitions. The company said it...

Alcoholic drinks maker Distil said it had launched ready-to-drink RedLeg Spiced Rum and 1886 Cola in collaboration with Franklin & Sons, the premium soft drink, tonic and mixer brand....

Faron Pharmaceuticals said that an abstract highlighting recent data from its phase 3 study of cancer drug, Clevegen, had been selected for a poster discussion presentation at the European Society...

The UK manufacturing purchasing managers' index fell to a seven-year low of 47.4 in August, according to IHS Markit. The market had bee expecting the reading to stay steady a 48.0. 'The high...

C4X Discovery said Robin Carr, a renowned industry veteran who has worked at GSK and Astex, would head up and form a drug discovery advisory network in an effort to bolster the company's drug...

AB Dynamics said it had completed the acquisition of California-based Dynamic Research Incorporated for a total of up to $24.7m. Dynamic Research Incorporated, DRI, was a leading supplier of...

Resources and energy sector focused Pires Investments said it was planning to enter the technology sector, initially with a £1.1m investment in venture capital fund Sure Valley Ventures. Pires...

Tekcapital said that 11 companies were now testing a low-sodium salt developed by portfolio company Salarius, for possible incorporation into their snack products. Salarius had also received a...

Ashley House said the 54-apartment extra care facility Morgan Ashley scheme with a gross development value of £13.5m at Romsey had reached financial close. The scheme was one of the three...

Oil and gas company Cabot Energy said it had entered into a non-binding agreement for an asset-level loan facility of up to C$5.0m with a private energy lender to fund a winter work programme...

Nigeria and London-listed Seplat Petroleum Development Company said it had been made aware of media reports indicating a Nigerian court had ruled against parties, including its chairman A. B. C....

Emmerson said it had completed its drill programme at Khemisset potash project in Northern Morocco under budget and on schedule, paving the way for the release of updated mineral resource estimate....

Destiny Pharma, a clinical stage biotechnology company, said that data from its collaboration with Cardiff University exploring the use of the company's drugs to tackle 'superbugs' would be...

Caspian Sunrise said it would raise capital through the placing of shares at a discount to purchase drilling equipment, including four rigs, for a total of $7m. The company said it would issue of...

Teleradiology services Medica confirmed that Stuart Quin had become its new chief executive. His appointment came amid the resignation of John Graham, whose departure was announced in May....

Homewares manufacturer Portmeirion said chief executive Lawrence Bryan had retired. Bryan would stay on the board as a non-executive director. He had been replaced by group financing director...

Content producer Zinc Media Group said former chief executive David Galan had stood down from its board as a non-executive director. The company also announced that it had appointed Andrew Garard...

Cyber security company Shearwater Group launched a proposed share capital reorganisation. The move would reduce the number of issued ordinary shares in the company by a factor of 100. It was...

US Solar Fund said it had closed the acquisition and financing of all of the cash equity interests in the 128 megawatt Milford solar project in Utah. Construction was expected to begin immediately...

Matomy Media said the trustee of its bondholders would convene a meeting, at the request of a few bondholders, to be held this Thursday. On the agenda was a resolution of a contingent demand of an...

Cash shell Tau Capital booked a first-half loss a it continued to search for a potential reverse takeover candidate. Net losses for the six months through June amounted to $0.20m, compared to...

AstraZeneca said its type-2 diabetes drug on top of standard care showed a reduction in both the incidence of cardiovascular death and the worsening of heart failure in patients with and without...

St Peter Port Capital said it was planning to terminate its discretionary investment management agreement with St Peter Port Investment Management and become a self-managed fund. The company said...

Antibiotics developer Motif Bio said lender Hercules Capital had agreed to push back the company's next amortisation date to 1 October, from 1 September. The change would mean that the September...

AstraZeneca announced 'positive' results from its trial which showed that its cardiovascular drug, when combinbed with Aspirin, reduced the relative risk of heart attack or stroke by 10% compared...

Tectonic Gold said it had agreed to sell its 2.5% royalty interest in the Graphmada graphite mine in Madagascar to SilverStream for up to around A$0.55m. The purchase would be settled in cash and...

Online retailer MySale said it had launched an open offer to raise up to around £2.1m. New shares in the company would be issued at 2p each, with qualifying shareholders able to subscribe for two...

Tunisia and Romania focused oil company Serinus Energy said that chief financial officer Tracy Heck had resigned for personal reasons. She would remain with the company until 31 October to assist...

Woodford Patient Capital Trust said that it had appointed Jane Tufnell as an independent non-executive director, with immediate effect. The investment company also announced that Steven Harris...