Jersey Oil & Gas (LON: JOG) has secured a second farm out agreement for its Greater Buchan Area project in the UK North Sea. The terms of the agreement with Serica Energy (LON: SQZ) is similar to the one secured with NEO. Serica Energy will earn up to 30% for a mix of cash and capital investment – $6.8m is payable on completion. Jersey Oil & Gas is fully funded until first oil for the Buchan field redevelopment. The share price jumped 23.1% to 242.5p. The Serica Energy share price rose 2.27% to 211.5p.
The family of Steppe Cement (LON: STCM) chief executive Javier del Ser Perez bought 200,000 shares at 22.375p, taking their stake to 8.63%. The share price improved 9.3% to 23.5p.
Maritime AI provider Windward (LON: WNWD) has signed a five-year contract with a European national coastguard that is valued at €3.2m. The cash is expected to be paid upfront, while annual contract value will be increased by $700,000/year. That means that the 2024 forecast revenues are around 90% covered by annualised recurring revenues. The share price rose 9.09% to 72p.
Shares in floorcoverings manufacturer Victoria (LON: VCP) recovered following yesterday’s warning that the second half is likely to be tougher. The share price increased 9.02% to 278p.
FALLERS
United Oil & Gas (LON: UOG) says that the preferred potential partner for the Walton Morant licence in Jamaica has pulled out. Other parties are interested. The licence period expires in January and an extension is being negotiated. Simon Brett has been appointed as non-board finance director. The share price slumped 20.1% to 0.775p.
Neometals (LON: NMT) has completed the A$9m from a placing at 10p/share and wants to raise a further £6.8m from a one-for-eight entitlement offer. The cash will fund the development of the nickel, cobalt, lithium recycling business Primobius, including the delivery of a facility to Mercedes Benz, and potentially to purchase a stake in Canadian licensee Stelco. The share price fell a further 8.33% to 11p.
Plant Health Care (LON: PHC) shares continue to decline after yesterday’s trading statement. Destocking in the agrichemical market means that full year revenues are likely to be flat, which is a relatively good performance when compared with the sector. Revenue expectations for 2024 have been cut by 28% to $16.6m. The share price slipped a further 6.08% to 3.55p.
Trading in SigmaRoc (LON: SRC) shares recommenced after the publication of the readmission document following the purchase of the European lime assets from CRH (LON: CRH). The building materials supplier has raised £200m via a placing at 47.5p/share with a further £1.3m raised from an offer. CRH is taking a 15.4% shareholding. The total consideration for the lime assets is $1.1bn, which is in three phases with the initial acquisition of assets in Germany, Czech Republic and Poland. In 2022, revenues were around $610m and EBITDA was $137m. The SigmaRoc share price declined 5.08% to 47.65p.
Ex-dividends
Cake Box (LON: CBOX) is paying an interim dividend of 2.9p/share and the share price increased 0.5p to 147.5p.
Craneware (LON: CRW) is paying a final dividend of 16p/share and the share price is 10p lower at 1630p.
FRP Advisory (LON: FRP) is paying a dividend of 0.9p/share and the share price fell 1.5p to 121p.
Inspiration Healthcare (LON: IHC) is paying an interim dividend of 0.21p/share and the share price is unchanged at 39.5p.
Lok’nStore (LON: LOK) is paying a final dividend of 13.25p/share and the share price slipped 19p to 739p.
Tatton Asset Management (LON: TAM) is paying an interim dividend of 8p/share and the share price improved 1p to 523p.
Tristel (LON: TSTL) is paying a final dividend of 7.88p/share and the share price fell 5p to 425p.
Young & Co’s Brewery (LON: YNGA) is paying an interim dividend of p/share and the share price slipped 5p to 1090p.
Yu Group (LON: YU.) is paying an interim dividend of 3p/share and the share price declined 20p to 1110p.
