PHSC (LON: PHSC) has commenced a further share buy back of up to 1.18 million shares for up to £200,000. The share price jumped 32.4% to 24.5p. If the share price held at this level then not all the shares could be acquired.
Abingdon Health (LON: ABDX) is launching the Salistick saliva pregnancy test in 298 Tesco stores. It is already sold in 400 Superdrug stores. Abingdon Health has the UK and Ireland distribution rights to Salistick, which was developed by Salignostics, and is also contract manufacturer. The share price increased 25.7% to 11p.
Verditek (LON: VDTK) has signed a memorandum of understanding with Net Zero Valley and this will form the basis of a 50/50 joint venture agreement that will invest in a 1GW ultra-lightweight solar panel manufacturing plant in Southern Italy. Verditek will source machinery, provide know-how and set up and operate the plant. The share price is one-fifth higher at 1.2p.
Evgen Pharma (LON: EVG) has revealed final data from a Phase 1b healthy volunteer study showing that the enteric coated tablet formation for SFX-01 is safe and well tolerated. Along with partner Stalica, Evgen Pharma will work on a regulatory submission for a Phase 2 trial in autism spectrum disorder, which would trigger a $5m milestone payment. The share price is 10.4% ahead at 2.65p.
FALLERS
Amur Minerals Corporation (LON: AMC) has reminded investors that trading in the shares will be suspended on 7 September if it does not secure a reverse takeover. The share price fell by one-fifth to 0.12p.
The full year figures of Victoria (LON: VCP) have been delayed, but the floorcoverings manufacturer has published a comprehensive set of unaudited figures. EBITDA was at the bottom end of expectations at £196m, up from £162.8m. The inclusion of rug maker Balta reduced margins, but restructuring will improve these. The period was hit by higher polypropylene and gas prices, but these have subsequently eased. There was capital spending on restructuring the business that should pay off this year, although it is not likely to be until the second half. Although net debt is £658.3m, the major capital investment has been made and around £100m of cash could be generated this year. The share price is 7.31% lower at 596p, although it is still nearly 24% ahead so far this year.
MTI Wireless Edge (LON: MWE) had a mixed first with delayed defence contracts offsetting improved contributions from the antennas and Mottech water management divisions. Interim pre-tax profit was flat at $2.1m, but Allenby still expects full year pre-tax profit to improve from $4.32m to $4.79m. One of the delayed contracts has already been completed and the other should be finished this year. The outlook for defence is still positive, while 5G demand from India is difficult to predict. The share price is 3.53% lower at 41p.
Instem (LON: INS) annualised recurring revenues were 27% ahead at £41m. The pharma software company is trading in line with expectations. Interim revenues are expected to be around 10% higher at £29.7m. Cash is £8.4m. The share price dropped 2.82% to 602.5p.