Bagir shares surge as company commences search for a new chairperson
Laws is sticking around on the board until the end of May to support the transition to a new chairperson.
The board has commenced a formal recruitment process to replace Laws.
12.30pm: Frenkel Topping slides as bid talks are terminated
Harwood Capital had expressed an interest in late January in making an offer for Frenkel but has decided not to pull the trigger.
Independent financial advice dispenser Frenkel Topping confirmed bid talks have been terminated but said it had made a robust start to the new financial year.
11.30am: Indivior under the weather after profits warning
The drugs giant reported a 39% decline in profits for 2019 and said it is likely to fall into losses this year as its key opioid dependency treatment continues to lose ground to generic competition and it invests in marketing new treatments.
For 2020, assuming Suboxones market share is eroded in line with industry expectations, net revenue is expected to fall by up to a third to US$525-585mln, of which Sublocade is expected to contribute US$150-200mln and Perseris US$15-25mln.
10.30am: MXC Capital plunges after announcing plans to delist
Technology-focused investment company MXC Capital Limited (LON:MXCP) plunged 24% to 52p after management signalled the companys intent to delist from AIM.
The company said it had not raised fresh capital on AIM for more than four years and has no intention of doing so in the foreseeable future. The company reckons it could save around £300,000 a year going private.
The plan is to delist in the middle of March.
9.30am: Filta Group confident of a much-improved performance this year
The provider of fryer management and other services to commercial kitchens said it expects to report adjusted underlying earnings (EBITDA) for 2019 of around £3.2mln on turnover of around £25mln.
Strong interest from franchisees in North America along with a strong performance in the final quarter of 2019 has given the board confidence that Filta will deliver a much-improved performance this year.
Having made an underlying loss of £1.2mln in the previous year, the group expects to post underlying earnings of around £1.4mln in the year to the end of January 2020.
"After a strong first half in FY20, the team succeeded in delivering an even better second-half performance,” said Matt Sassone, the chief executive officer of LiDCO.
Proactive news headlines:
Clear Leisure PLC (LON:CLP) said the Turin Court has rubber-stamped an earlier “fast track” ruling that confirms the company's controlling stake in Sipiem SpA. The court ruled that Sipiems minority shareholder had, in 2015, illegally tried to remove control of the company from Clear Leisure.
Amur Minerals Corporation (LON:AMC) has appointed an experienced senior banker, Adam Habib as an advisor to its board on transactions and corporate development. The AIM-listed firm said Habib will have the responsibility for advancing funding activities and establishment of strategic partnerships allowing for the continued development of the Kun-Manie nickel/copper sulphide project in Russia.
i3 Energy PLC (LON:i3E) has issued a corporate update confirming “good progress” with its North Sea farm-out efforts and also its intention to establish a secondary stock market listing. “The company is making good progress in its farm-out process to fund a 2020 appraisal drilling program on its assets in Blocks 13/23c in the UK North Sea,” i3E said.
Futura Medical PLC (LON:FUM) said it has held “positive initial discussions” with EU regulators as it confirmed it will seek to have its erectile dysfunction (ED) gel approved as a medical device rather than a drug. The company has previously stated this approach should provide a simpler route to sign-off and also “represents a wider overall commercial opportunity”.
accesso Technology Group PLC (LON:ACSO) has hailed “powerful business results” for 2019 after securing several noteworthy customer renewals and 43 new or expanded ticketing contracts over the year. The e-ticketing specialist said it had reached renewal agreements with several clients including theme park owner Palace Entertainment and the Washington State Fair while also securing new customers such as ITV Broadcasting, the Mount Washington Cog Railway and The New York Botanical Garden.
Providence Resources PLC (LON:PVR) has confirmed it is unwinding the Chinese partnership at the Barryroe field and it is undertaking a new farm-out process. The main focus is to advance the appraisal of the Barryroe field, to answer key uncertainties about the reservoir and bring the project closer to development. Presently, Providence has sufficient working capital to last until late March or early April, and, new funding options are now being explored.
Angling Direct PLC (LON:ANG) has opened its 35th UK store in Warrington, Cheshire. The fishing tackle and equipment seller said the 4,500 square foot store, located at the Cockhedge shopping park, was “ideally situated within a highly populated and enthusiastic angling community and is surrounded by lakes and other river venues such as the River Mersey and Weaver”.