Powerhouse Energy (LON: PHE) has signed a five-year framework agreement with Australia-based National Hydrogen, which is planning to develop a network of plastic to hydrogen centres. A Powerhouse Energy subsidiary will provide engineering project work as well as helping to develop the projects. Revenues will come from licence fees and royalties for providing the technology. Powerhouse Energy will not have to make any contribution to capital investment. The share price jumped 29.9% to 0.435p.
Safety and compliance services provider Marlowe (LON: MRL) is selling part of its governance, risk and compliance software and service business to Inflexion for an enterprise value of £430m. That will pay off debt and enable £150m plus to be paid to shareholders. That could leave £60m of cash in the business. This could fund acquisitions in the remaining business areas of testing, inspection and certification, and occupational health. Marlowe chief executive Alex Dacre is leaving with the disposal. The share price increased 23.3% to 524p.
Primorus Investments (LON: PRIM) says investee company Payapps has been acquired by Autodesk Inc and it has received £4.8m for its stake. The sale does not include the facilities management business, which was spun out and will be sold separately. The board is considering returning some cash to shareholders. The share price is 26.8% higher at 5.25p, which is the highest it has been for three years.
Optimer binders supplier Aptamer Group (LON: APTA) has entered into the second phase of the development of an Alzheimer’s test with Neuro-Bio. An additional Optimer binder will be developed for the proposed lateral flow test. The share price rose by one-fifth to 0.75p.
FALLERS
Clean water technology developer MyCelx Technologies Corporation (LON: MYX) says revenues were slightly lower than expected at $10.9m due to project timings. There was cash of $383,000 at the end of 2023 and since then the Saudi Arabian business has been sold with initial net consideration of $2.75m with potential deferred consideration of $4m. Revenues are expected to be between $9m and $10m in 2024 – excluding Saudi Arabia. The share price slipped 12% to 47.5p.
Oil and gas company 88 Energy (LON: 88E) has received a 20% working interest in PEL93 in Namibia after government approval. This is the first of three stages of a farm-in agreement. This licence is in the Owambo Basin in Namibia and includes blocks 1717 and 1817. Sesimic acquisition is planned for the middle of 2024. The share price fell 9.86% to 0.32p.
Coatings company Hardide (LON: HDD) has raised £880,000 at 4.5p/share – a one-third increase in the shares in issue – and plans to raise £250,000 of debt finance. This should provide enough cash until near to the end of 2024. The share price fell 9.52% to a new low of 4.75p.
Sylvania Platinum (LON: SLP) produced 38,400 ounces of platinum group metals in the first half and is maintaining guidance of 74,000-75,000 ounces in the year to June 2024. However, the platinum group metals Rand basket price has been declining and interim revenues fell from $79.9m to $40.8m, although Sylvania Platinum remained profitable. The Thaba joint venture should start production in 2025. The interim dividend is 1p/share. There is $107m in the bank. The share price declined 6.6% to 49.5p.
Ex-dividends
Alumasc (LON: ALU) is paying an interim dividend of 3.45p/share and the share price is 0.5p lower at 181.5p.
FRP Advisory (LON: FRP) is paying a dividend of 0.9p/share and the share price declined 1.5p to 124.5p.
Gateley (LON: GTLY) is paying an interim dividend of 3.3p/share and the share price fell 2p to 133.5p.
Hercules Site Services (LON: HSS) is paying a final dividend of 1.12p/share and the share price slipped 0.5p to 34.5p.
Samuel Heath (LON: HSM) is paying an interim dividend of 4.5p/share and the share price is unchanged at 325p.
Jarvis Securities (LON: JIM) is paying a dividend of 1.75p/share and the share price declined 2.5p to 71p.
Northern Bear (LON: NTBR) is paying a final dividend of 2p/share and the share price is 1p lower at 62p.
Titon (LON: TON) is paying a final dividend of 0.5p/share and the share price is unchanged at 80p.
Van Elle (LON: VANL) is paying an interim dividend of 0.4p/share and the share price is unchanged at 38.5p.