Economic and Market News for 28 May 2019

Premier African Minerals said it had been unable to conclude a revised pricing structure for a drilling contract with KME Plant Hire Proprietary for its Zulu lithium project in Zimbabwe. The...

GLI Finance said it had written down the value of its investment in FinTech Ventures to zero. The write-down resulted in a fair value adjustment of £1.9m. 'The board has been made aware that a...

Medical technology company Inspiration Healthcare Group said it had been informed by NPXe that it was no longer looking to IPO in the UK. Instead, the company was pursuing a private offering in...

Integumen said that its virtual laboratory platform Labskin AI had entered into testing agreements with three new clients. They included a 'leading chain drug store' and a European provider of...

Duke Royalty said it had made a follow-on investment of £1.4m into its royalty partner and Irish telecom services provider Welltel. The move represented the first follow-on investment that Duke...

Redhall Group said it decided to appoint administrators and expected to do so within 10 business days. 'Further to the announcement on 24 May 2018, and following discussions with its advisors and...

Jersey Oil & Gas said it had agreed terms with Total in relation to the latter's termination of a 2013 farm-in to a licence. By way of a full and final settlement, Jersey Oil & Gas said it...

Caspian Sunrise said that work had commenced to take a third core sample from a well at its BNG contract area in Kazakhstan. Drilling of the Deep Well A8 commenced in November, with a target depth...

Redcentric said it had appointed Dean Barber as its chief financial officer. Barber had been financial controller at EMIS Group since April 2013. The company also announced that Peter Brotherton...

Flutter Entertainment announced that its change of name from Paddy Power Betfair to Flutter Entertainment came into effect on 27 May. As a result, the company confirmed that as of 28 May, its...

Natural resources company Jangada Mines entered into a binding letter agreement with a ValOre to sell its platinum group metals and nickel project in a cash and shares deal worth £4.1m. The sale...

Vast Resources said it had engaged with SRK Consulting to prepare studies for its prospects in Romania. The work would include scoping Studies, preliminary economic assessments and preliminary...

Pharmaceutical company Diurnal Group raised approximately gross £5.35m through the placing of shares at a discount. The company placed 20,576,924 shares at a price of 26 pence a share,...

Trafalgar Property Group said it had raised £250k through a share placing to fund new and existing development projects and provide general working capital. The shares had been issued at 0.4p...

Telecom services provider Toople said it had raised £662k from a share issue to fund the redemption of an outstanding loan from David Breith. New shares in the company were issued at 0.35p each....

Gaming technology platform Nektan said it had expanded its existing partnership with gambling provider BetVictor. Nektan said it had agreed to to develop exclusive casino content in collaboration...

Clinical stage biotechnology company ValiRx said it was in talks to terminate a share subscription agreement with European High Growth Opportunities and covert it into a a new convertible bond...

Bluejay Mining reached an agreement with Rio Tinto Iron and Titanium Canada to further analyse Ilmenite from the company's wholly owned Dundas Ilmenite project . Dundas, a scalable...

Verditek said it had officially opened its first solar PV module factory in Lainate, Italy. The 1800 square metre facility included a largely automated production line that had undergone a full...

Phoenix Global Resources said it had increased an existing convertible revolving credit facility with the Mercuria Group to $275m. The company said the move provided immediate additional funds of...

Silence Therapeutics said it had entered into a collaboration with Genomics England for the investigation of novel targets involved in human disease. Genomics England had generated a unique...

Pressure Technologies said it was nearing completion of the proposed sale of its wholly-owned subsidiary PT Biogas to Creation Capital Corp. Creation Capital had announced that it has received...

Prospex Oil and Gas said it had been advised by well operator Raffles Energy that all relevant permits were now in place to drill the Bainet West prospect in Romania. The prospect was located on...

Financial services provider and jewellery retailer Ramsdens said it had acquired four stores currently trading as The Money Shop and 12 loan books from Instant Cash Loans for £0.5m. The...

Consumer-focused hospitality group Barkby entered into a new six year leasehold agreement with Arkell's Brewery for The Rose and Crown Inn in Ashbury, near Swindon. The Rose and Crown Inn, a 16th...

Proton Power Systems said it was installing a stack manufacturing robot that would allow it to increase production capacity to 5,000 fuel cell units per annum. The robot, relating to the project...

Mongolia-focused explorer Petro Matad said well site construction had commenced at its block XX prospect in the Asian nation. The well site work had commenced at the Heron 1 location and was...

Tertiary Minerals said it had secured exploration rights and an option to purchase a group of claims in the Pyramid mining district of Nevada. The project was located 25 miles northwest of Reno...

OptiBiotix Health said it had appointed Stephen Prescott as chief executive of its ProBiotix Health subsidiary. ProBiotix was created to develop science-based healthy bacteria called probiotics to...

SDX Energy said it had completed a re-domiciliation transaction under a statutory plan of arrangement pursuant to which SDX UK had become the ultimate parent company of SDX Canada. SDX UK acquired...

Galliford Try rejected £950m share offer from homebuilder Bovis to acquire its housing businesses in exchange for new Bovis Homes shares. 'The Board rejected the Bovis Homes Proposal as it...

Sub-prime lender Provident Financial confirmed that investor M&G had decided not to accept Non-Standard Financial's hostile takeover bid for the company. Provident Financial said shareholders...

Sports Direct International said it had agreed to sell a logistics centre in Shirebrook to Kwasa Logix Sportivo for £120.1m. The company said it would take out a 15-year lease on the property and...

Polymetal International said it had formed a partnership with a company associated with Mineral Exploration Network for early-stage exploration in the Chaunsk region of Chukotka, Russia. Polymetal...