Former Avacta boss Dr Alastair Smith has become a non-executive director of gene delivery technology developer N4 Pharma (LON: N4P). He has been awarded five million options exercisable at 0.75p each. David Templeton has stepped down from the board. The share price jumped 28.6% to 0.675p.
Mkango Resources (LON: MKA) has signed a non-binding agreement to reverse its upstream and midstream businesses into Nasdaq shell Crown PropTech Acquisitions, where it will be the majority owner. The acquirer will own the Songwe Hill rare earths project in Malawi and a separation plant in Poland. Mkango Resources will retain the recycling business. The Mkango Resources share price increased 18.3% to 11p.
Physiomics (LON: PYC) says the PREDICT-ONC software observational trial has received regulatory approval. The software is used predict dosing of GCSF, a drug used to counteract the toxic effect of chemotherapy on white blood cells. Completion is expected by the end of 2025. The share price rose 12.9% to 0.875p.
Identity management software provider Intercede Group (LON: IGP) has won new contracts and secured renewals that have sparked an upgrade in forecasts. The 2024-25 pre-tax profit forecast has been raised from £3.7m to £3.9m. The share price improved 9.59% to 200p.
A strong Black Friday and Christmas trading period for Hornby (LON: HRN) means that revenues and profit have improved in the third quarter to December 2024. Gross profit is 10% higher in the nine months to December 2024. Net debt was slightly lower at £18.2m. The share price is 5.88% higher at 27p.
FALLERS
Legal services provider RBG Holdings (LON: RBGP) has terminated the consultancy agreement of Ian Rosenblatt due to breaches of contract and offensive behaviour. He has restrictive covenants lasting until July 2028 but he set up a company known as AWH Acquisition Corp, which is regulated as a firm of solicitors and changed its name to Rosenblatt Law. Domain names have been registered. He is a director along with former RBG Holdings director Tania MacLeod. Ian Rosenblatt has requisitioned a general meeting to remove Jon Divers as chief executive of RBG Holdings. The share price is one-third lower at 1.75p.
Floorcoverings supplier Victoria (LON: VCP) still expects second half trading to be stronger than the first half through a combination of management actions and slightly higher demand. Annualised cost savings should be £32m by the end of March 2025 with a total of more than £80m anticipated by 2027. Consensus 2024-25 operating profit remains £31m, rising to £74m next year. Joe Scribbins has been appointed to the board to replace Blake Ressel as the representative of Koch Equity Development. The share price slipped 9.93% to 101.6p.
Gemfields (LON: GEM) says that the Zambian government has reinstated the 15% export duty on precious gemstones on top of the existing 6% mining royalty, which makes the tax rates much higher than other gemstone producing countries. The share price fell 3.57% to 6.75p.