Glantus (LON: GLAN) is recommending a 33.42p/share bid from Basware Oy, which values the software company at £17.8m. This compares with the May 2021 placing price of 102p/share, which indicates the extremely poor performance of Glantus since it floated. Initial investors will get less than one-third of their money back. The share price jumped 57.5% to 31.5p.
Global Petroleum (LON: GBP) has received approval from the Namibian authorities for the next phase of Walvis Basin PEL 94. This will enable the processing of 3D seismic data. The renewal period lasts until September 2025. The share price moved up 10.3% to 0.16p.
Shareholders in Premier African Minerals (LON: PREM) have agreed a revised offtake and prepayment agreement with Canamax Technologies. A further announcement relating to the agreement will be made shortly. The company is drawing down the £2m facility provided by its chief executive George Roach. The share price improved 9.82% to 0.615p.
Non-exec director Mark Blandford has acquired 350,000 shares in Gaming Realms (LON: GMR) at an average share price of 35.17p, taking his stake to 4.3%. The market price rose 8.24% to 36.8p.
At the end of last week, former ITM Power (LON: ITM) chief executive Dr Graham Cooley took a 3.13% stake in energy as a service company eEnergy Group (LON: EAAS). The share price improved 5.6% to 6.6p.
Sara Halton will become interim chief executive of Robinson (LON: RBN) in September. The buy out of the packaging company’s pension scheme has led to a surplus and £3.3m will be returned to Robinson. A conditional land sale will bring in £1.1m net, double book value, in the next 18 months. Interim figures will be published on 17 August. The share price improved 5.56% to 95p.
FALLERS
Harvest Minerals (LON: HMI) has been hit by weaker fertiliser demand, which has continued in July. So far this year, 36,000t has been supplied. On top of this there are advanced sales of 33,000t that were not recognised in 2022. The second half should be the busiest for the Brazil-based company, but fertiliser orders are still being delayed because of low crop prices. The 2023 invoiced sales target has been cut from 120,000t to 70,000t. The share price slumped 30.8% to 2.25p.
Serinus Energy (LON: SENX) reports that lower oil and gas prices mean that interim revenues slumped from $29.3m to $8.9m. There was a $400,000 cash inflow. Net cash was $2.5m at the end of June 2023. A full year loss is forecast. The share price declined 16.2% to 3.1p.
Waste heat recovery technology developer Inspirit Energy Holdings (LON: INSP) says that its Inspirit Charger unit for automotive and marine uses can enhance performance of some commercial engines by up to 30%. However, external manufacturing errors have been identified in one component. This is delaying progress. The share price dipped 12.8% to 0.0205p.
Fusion Antibodies (LON: FAB) is on track to realise annual savings of £2.2m. Some directors will have a portion of their remuneration paid in shares rather than cash. The share price fell 3.57% to 6.75p.