Data and analytics information provider GlobalData (LON: DATA) has announced a proposed move to the Main Market to enhance its profile and gain access to a broader range of investors. A £50m share buyback has commenced. The company proposes that chairman Murray Legg stay on for another three years to facilitate an orderly succession even though he has already been on the board for nine years. The share price improved 8.89% to 202p.
Cancer treatments developer Faron Pharma (LON: FARN) raised €12m in a placing at €1.72/share. Topline data from the phase II BEXMAB clinical trial for treating the aggressive hematological malignancies of acute myeloid leukemia and myelodysplastic syndrome is expected in April. The money will fund a continuation of the trial and prepare for an FDA meeting. There should be enough cash until the end of 2025. The share price rose 8.33% to 162.5p.
Seascape Energy Asia (LON: SEA) expects the farm-out of a 42.5% participating interest in the Block 2A production sharing contract to new operator Inpex Corporation should complete in the first quarter. That should boost cash balances to £10m. Annual corporate overheads are £3m. Seascape Energy Asia will retain a 10% interest. It is seeking other investment opportunities. The share price increased 7.35% to 36.5p.
Cambridge Nutritional Sciences (LON: CNSL) chair Carolyn Rand bought 100,000 shares at 3.59p each. The share price is 7.25% higher at 3.7p.
FALLERS
RA International (LON: RAI) directors have decided to ask for shareholder permission to leave AIM. The remote services provider to global organisations says that disclosure requirements hamper the business by enabling rivals have a greater insight into its strategy. Also, confidentiality agreements mean that it is difficult to provide investors with the information they want. Liquidity is poor because Soraya Narfeldt and Lars Narfeldt own more than 80% of RA International. Contract mobilisation delays are hampering trading, and a loss is expected for 2024. Costs will be reduced this year and non-core business could be sold for up to $5m. The share price dived 86.9% to 0.85p.
Cosmetics supplier Warpaint London (LON: W7L) says 2024 revenues were £102m and pre-tax profit £24m. These figures are slightly below the forecast. January revenues were 15% higher, which represents a slowdown in growth. Previous growth forecasts were higher. The share price slipped 17.4% to 439.5p.
Digital tech services provider TPXimpact (LON: TPX) says third quarter trading was in line with expectations, but contracts are slow in starting and building up which will hit the fourth quarter. Dowgate has cut 2024-25 revenues from £84m to £76m, which has led to a pre-tax profit downgrade to £2.8m. The UK government comprehensive spending review should be completed in June and spending should return to expected levels after that. The government wants to invest in digitisation and the spending will eventually ramp up. The share price slumped 17.2% to 26.5p.
Jubilee Metals (LON: JLP) says it has secured stable power for the Roan concentrator in Zambia. The plant had shut down in December because of lack of consistent power. This will affect copper production in the year to June 2025, although the company intends to process higher grade material. After a four-to-six week test on the higher grade material Jubilee Metals will issue full year copper production guidance. Zambia copper production guidance is currently 5,900-7,500t. The share price fell 3.89% to 3.95p.
Ex-dividends
Greencoat Renewables (LON: GRP) is paying a dividend of 1.69 eurocents/share and the share price fell 0.9 eurocents to 78.9 eurocents.
Renew Holdings (LON: RNWH) is paying a final dividend of 12.67p/share and the share price declined 2p to 720p.
Victorian Plumbing (LON: VIC) is paying a final dividend of 1.09p/share and the share price rose 0.25p to 105.25p.