Angola-focused oil and gas company Corcel (LON: CRCL) has gained approvals to collect data for KON 11, KON 12 and KON 16 blocks in Angola. The survey will be done in the third quarter. There will be a financial update on 14 June. The share price rose 23.8% to 0.13p.
Norway-based First Seagull AS has acquired a 7.88% stake in Aferian (LON: AFRN). The share price is one-quarter higher at 4.5p.
Mathematical drug modelling company Physiomics (LON: PYC) has been awarded a contract by a UK biotech company. This will use the company’s virtual tumour technology. The project is valued at £162,000 and should be completed over five months. This will provide information for the reactivation of former oil and gas fields. The share price increased 7.69% to 1.4p.
Hostels operator Safestay (LON: SSTY) has acquired a property in Brighton from the University of East Sussex for £2.275m. This will be converted into a 220 bed premium hostel. It is 600 metres from the sea front and will cost £1m to convert. Shore Capital has been appointed nominated adviser and broker. Safestay reported full year revenues 18% higher at £22.5m. EBITDA rose 15% to £6.8m. NAV was 50p/share. The share price is 7.5% ahead at 21.5p.
FALLERS
Mohammmed Ashraf has been appointed chief executive of Kibo Energy (LON: KIBO) and James Parsons is joining the board to oversee a restructuring. The company will become a broader based energy company that includes oil and gas. There will be a review of existing interests. Stefania Barbaglio and Clive Roberts are also joining the board. The renewable energy company has raised £500,000 at 0.015p/share. The main assets are 83.2 million shares in MAST Energy Development (LON: MED) plus £849,000 owed by that company, 134.4 million shares in Katoro Gold (LON: KAT) and a portfolio of waste to energy projects. The receivable from MAST Energy Developments will be used to reduce the debt owed to RiverFort Global Opportunities from £767,000 to £400,000, which be structured as a two-year loan with a 10% annual interest rate. The Johannesburg Stock Exchange listing may be dropped. The share price slumped 46.7% to 0.016p.
Antimicrobial treatment developer Ondine Biomedical (LON: OBI) doubled 2023 revenues to $1.2m. Funding for the US phase 3 clinical trial for Steriwave is being explored and up to $22m is required to generate the data required. Ondine Biomedical raised $6.1m at 7p/share earlier this year. There are hospitals already using Steriwave to reduce the number of infections. The share price is 12.1% lower at 7.25p.
WIIT has decided not to make an offer for Redcentric (LON: RCN). The share price fell back 3.26% to 141p.
